Bitcoin, Cryptocurrency, Don't Miss, Hot News

Bitcoin Proponents must ‘Be Vigilant’ of Government – Ron Paul

Ron Paul discussed cryptocurrencies and bitcoin at great length last December 5 in the Stephan Livera Podcast episode 234. In the interview, he said that when bitcoin came out, he was still in congress, and he thought the most important thing to do was to make it legal.

Paul mentioned that he advises crypto advocates to be vigilant against the government’s future intrusive financial snooping.

Making Sure Bitcoin Continues to be Legal

Ron Paul is one of the most loved libertarians alive today, and whenever he speaks, a significant number of individuals listen. Paul is an author of many books that will inspire liberty, and he also argued for the circumvention of unwarranted government entities like the IRS and Federal Reserve. The former congressman and presidential candidate had always been a staunch supporter of free markets, libertarianism, and a supporter of safe-haven assets like gold.

In the past few years, Paul shared his thoughts about Bitcoin and the crypto economy multiple times in the past. Moreover, although he is not super well-versed in the technology, he liked cryptocurrencies for “philosophic and legalistic reasons.”

Last December 5, 2020, Paul appeared on the recent Stephan Livera Podcast episode 234 and discussed bitcoin and the free markets for 30 minutes. Paul has been a critic of the US Federal Government’s fiscal policies on the show, and he even questioned the presence of the American tax policy. As far as bitcoin and cryptocurrencies are anxious, Paul stated:

“I think there’s a lot of questions to be answered and I don’t think the conclusion is there yet.”

Ron Paul’s Recommends Crypto Advocates to Remain Vigilant

Paul compared crypto assets to those in the private sector, offering better services in education than the government school system.

“If you are doing private education outside the government’s education [system], such as homeschooling or private schooling and if you are too successful, the government is going to want to close you down— I think that’s the way it is in finance too,” Paul explained.

In the conversation with Livera, Paul continued to disapprove of the IRS and the Fed’s massive 2020 money creation.

“As of now it looks like a lot of people believe in the marketplace and believe it can work,” Paul said regarding crypto advocates who back free markets.

“My advice is to be vigilant. There’s information collected, the [crypto] exchanges are not anonymous and I read the stories about the IRS checking up on things. For somebody like myself, I don’t even believe in the IRS, let alone being flexible enough [to say] ‘well as long as they are investigating me even if I follow the rules,’ well… In 1932 in the depth of the depression, people were allowed to own gold, and we were on the gold standard,” Paul stated.

The former congressman continued:

“But immediately what did they do? They made it illegal to own gold up until 1975.”

In the podcast, Paul has been adamant about letting people make their financial decisions. He accentuated that he liked the idea of how cryptocurrencies have made people think” about it significantly. The professed gold bug and precious metal fan also added that he wanted bitcoin’s supply limitation.

“The other thing I like about it is so far, [is] there’s a limitation of the creation of new currency. When I endorse cryptocurrency, I always admonish and say it will work if fraud is prohibited. Governments are used to doing fraud and that’s why the systems always go badly,” Paul added.

Leave a Comment

Leave a Reply