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Ron Paul Advises Bitcoin Proponents to ‘Be Vigilant’ of Government ‘There’s Information Collected’

Ron Paul Advises Bitcoin Proponents to 'Be Vigilant' of Government 'There’s Information Collected'

On December 5, the American author and retired
politician, Ron Paul, joined the Stephan Livera Podcast episode 234
and discussed cryptocurrencies and bitcoin at great length. During
the interview, the prominent libertarian said when bitcoin came out
he was still in congress and he thought the most important thing to
do at the time was make it legal. Paul stressed that he advises
cryptocurrency advocates to be vigilant toward the government’s
future intrusive financial meddling.

Making Sure Bitcoin Remains Legal

Ron Paul is one of the
most beloved libertarians alive today and when he speaks a great
number of people listen. Paul is an author of many books that
encourage liberty and he also argues for the circumvention of
unwarranted government entities like the Internal Revenue Service
(IRS) and the Federal Reserve. The former congressman and
presidential candidate has always been a staunch supporter of free
markets, libertarianism, and a proponent of safe-haven assets like
gold.

During the last few years, Paul has
shared his thoughts
about bitcoin and the crypto economy

many times
in the past. Moreover, even though he’s not super
well-versed in the technology, he likes cryptocurrencies for
“philosophic and legalistic reasons.”

Ron Paul Advises Bitcoin Proponents to 'Be Vigilant' of Government 'There’s Information Collected'Ron Paul is a well known
libertarian and former member of Congress. Paul is a fan of free
markets, precious metals, cryptocurrencies, and sound money. He’s
written a number of books including “End the Fed,” and has been
a critic of the U.S. government’s policies which include the tax
system, the Federal Reserve, the war on drugs, the war on terror,
Covid-19 lockdowns, and the military-industrial complex.

On December 5, 2020, Paul appeared on the recent
Stephan Livera Podcast episode 234
and discussed bitcoin and
free markets for over 30 minutes. As usual, Paul was a critic of
the U.S. federal government’s fiscal policies on the show, and he
even questioned the existence of the American tax policy. As far as
bitcoin and cryptocurrencies are concerned, Paul said: “I think
there’s a lot of questions to be answered and I don’t think the
conclusion is there yet.”

“I’ve been impressed with what’s happened in the last few
years because some people predicted [bitcoin] would be this
popular, [and] other people were skeptical,” Paul told Livera
during the podcast. “I think [skepticism] still exists, and my
introduction to [bitcoin] has been mainly for philosophic and
legalistic reasons, because I knew about this when it was becoming
vogue when I was in congress. I thought the most important thing is
to do is whatever we can to make [bitcoin] legal. This is why I
[drafted] a bill that would legalize competing currencies because
if it’s to be used as money, you are competing with the dollar
and there’s some people who don’t like that.”

The former politician further added:

There are tax collectors out there too that want to know
exactly what people are doing with alternative
currencies.

Paul said when he was a politician, he was “mainly interested
to make sure that it was legal.”

“I think it basically is and a lot of people trust it, a lot
of people are buying and selling, but that doesn’t totally
reassure me because I have a skepticism toward the government all
the time,” Paul stressed. “You see I don’t even have total
reassurance that the government won’t come along and want to
confiscate my gold. Governments are pretty ornery, ya know, the
more successful crypto is going to be and bitcoin, I think the more
you have to be aware of what’s going on with the government
becoming more aggressive.”

Ron Paul’s Advice to Crypto Advocates Is to Remain Vigilant

Paul then compared crypto assets to those in the private sector
offering better services in the world of education in comparison to
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. During
his conversation with Livera, Paul continued to criticize 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 about crypto
advocates who support free markets. “My advice is to be vigilant.
There’s information collected, the [crypto] exchanges are not
totally 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 declared.

The former congressman continued:

But immediately what did they do? They made it illegal
to own gold all the way up until 1975.

During the podcast, Paul was very adamant about letting people
make their own financial decisions. He highlighted that he likes
the idea of how “cryptocurrencies have made people think” about
that specifically. The self-professed gold bug and precious metals
fan also added that he likes bitcoin’s supply limitation as
well.

“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.

What do you think about Ron Paul’s recent statements
about the federal government and bitcoin? Let us know what you
think about this subject in the comments section
below.

The post
Ron Paul Advises Bitcoin Proponents to ‘Be Vigilant’ of
Government ‘There’s Information Collected’
appeared first
on Bitcoin News.

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