Ron Paul Wants Bitcoin Totally Legalized to Compete With Dollar and Let the People Decide – Featured Bitcoin News
Former U.S. Congressman Ron Paul says he wants to legalize dollar competition, including Bitcoin, and let the people decide what money to use, not the government. “Freedom of choice will do it,” he said.
Ron Paul wants to legalize Bitcoin as money to compete with the dollar
Former presidential candidate Ron Paul discussed Bitcoin as an alternative asset rolled into one interview with Michelle Makori of Kitco News on Wednesday. Paul is an American author, doctor, and retired politician. The former Texas Congressman published the Ron Paul Liberty Report in 2015 to provide “provocative opinions and analysis on the hot topics that affect our lives and finances.”
When asked about his views on Bitcoin, Paul said he knows a lot more about precious metals being money than cryptocurrencies. “I’ve been fascinated by it for a long time. But I’m also fascinated by what’s coming, ”he said.
The former congressman added that “people should have as much freedom as possible to make decisions”. Then he describes a bill that he tabled in Congress to “not only examine the Fed, but also abolish legal tender laws”. Explaining that the government will not allow anything nationally to compete with the dollar at this time, he stated:
My goal is to legalize competition and people will sort that out. Freedom of choice will clarify that.
“My concern is that governments have been notoriously keen on being in control of money for centuries. Believe me, you will not give up control of the money, ”he said.
Paul was asked to explain what he meant by legalizing competition. He replied, “Right now, when you buy and sell gold, it is taxed, you can do that. If you’re making a profit from Bitcoin, read stories about people being taxed on it. You can’t tax money, you don’t tax it. If you bought a dollar a year ago and it was down 10%, you can’t take a loss because your dollar lost value. “
Paul will also speak at the Bitcoin 2021 conference on Friday. Commenting on what he wanted to say at the conference, he said, “I will do more to legalize freedom of choice, and the people should make decisions, not the government.”
He acknowledged that some people are very excited about Bitcoin and think that it is the only money that will exist that will replace the dollar. In his opinion, however:
I think the dollar will exist, but it won’t be worth much.
Nonetheless, he noted, “Legal tender laws force you to use legal tender so you cannot even replace dollars with cryptocurrencies. There will be laws against that. But I want to legalize it completely. “
He went on to say, “I think our problem is not gold standard technology or crypto. Our problems are dependence on the state and less concern for personal freedom. What about property rights and contract rights? We have to concentrate on that. “
Do you agree to Dr. Ron Paul regarding Bitcoin too? Let us know in the comment section below.
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