Former US Congressman Ron Paul says he wants to legitimize competition for the dollar, including bitcoin, and let the people decide what money to use, not the government. “Freedom of choice will settle this,” he said.
Ron Paul Wants to Legalize Bitcoin as Money to Compete with the Dollar
Former Presidential Candidate Ron Paul Discusses Bitcoin as an Alternative Asset interview With Kitco News’ Michelle Macori Wednesday. Paul is an American author, physician and retired politician. The former Texas Congressman launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis on issues affecting our lives and finances,” its website details.
When asked about his views on bitcoin, Paul said that he knows a lot more about precious metals than cryptocurrencies. “I was fascinated with it for a long time. But I am also thrilled with what is coming,” he said.
The former Congressman said that “people should have as much freedom as possible to have choices.” He then describes a bill introduced in Congress as “not only to audit the Fed but also to get rid of legal tender laws.” He explained that currently, the government would not allow anything to compete with the dollar on a national level, elaborating:
My goal is to legitimize the competition and people will settle it. Freedom of choice will settle this.
“My concern is that governments have been notorious for controlling money for centuries. Trust me, they will not give up control of money,” he insisted.
Paul was asked to elaborate on legalizing the contest. He replied: “Right now, if you buy and sell gold, you are taxed, they can do that. If you make a profit in bitcoin, you read stories of people taxing it. You can’t tax money, you can’t tax it. If you bought a dollar a year ago and it went down 10%, you can’t take a loss because your dollar has lost value. “
Paul will also speak at the Bitcoin 2021 conference on Friday. On what he plans to say at the conference, he said: “I would argue more for the legalization of freedom of choice, and that the people should decide, not the government.”
He acknowledged that some people are very enthusiastic about bitcoin and think that this is the only money that will exist in place of the dollar. However, in his opinion:
I think the dollar is going to be around, but it’s not going to be worth much.
However, he added: “The legal tender laws force you to use fiat, so they won’t even allow you to exchange dollars with cryptocurrencies. There will be laws against it. But, I’m going to legalize it completely. I want.”
He continued: “I think our problem is not the gold standards or the technicalities of crypto. Our problems are less reliance on the government and less concern about individual liberties. What about property rights and contract rights? On this We need to pay attention.”
Do you agree with Dr. Ron Paul on Bitcoin? Let us know in the comments section below.
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