'There’s Information Collected' As Ron Paul Advises Bitcoin Proponents To 'Be Vigilant' Of Government 

The Podcast Of Ron Paul

Discussing cryptocurrencies and bitcoin at great length was on December 5, the American author and retired politician Ron Paul joining the Stephen Livera Podcast episode 234. He thought the most important thing to do at the time made it legal as during the interview, the prominent libertarian said when bitcoin came out he was still in congress. Toward the government’s’ future intrusive financial meddling, Paul stressed that he advises cryptocurrency advocates to be vigilant. 

Making Sure Bitcoin Remains Legal 

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

Paul has shared his thoughts about bitcoin and the crypto economy many times in the past during the last few years. He likes cryptocurrencies for philosophic and legalistic reasons moreover, even though he is not super well-versed in the technology. 

Discussing bitcoin and free markets for over 30 minutes, on December 5, 2020, Paul appeared on the recent Stephan Livera Podcast episode 234. He even questioned the existence of the American tax policy as usual Paul was a critic of the US federal government’s fiscal policies on the show. Paul then said that he thinks there’s a lot of questions to be answered and he doesn’t think the conclusion is there yet as far as bitcoin and cryptocurrencies are concerned. 

During the podcast Paul told Livera that just because some people predicted bitcoin would be this popular and other person were sceptical, he has been impressed with what’s happened in the last few years. He further explains, as he knew about this when it was becoming vogue when he was in congress, he thought scepticism still exists and his introduction to bitcoin has been mainly for philosophic or legalistic reasons. Whatever we can to make bitcoin legal is what he thought is the most important thing. You are competing with the dollar and some people don’t like that as this is why he drafted a bill that would then legalise competing currencies because if it's to be used as money. 

Further adding, the former politician says: 

Wanting to know exactly what people are doing with alternative currencies, there are tax collectors out there too. 

He was mainly interested to make sure that it was legal as Paul said when he was a politician. 

Paul then stressed that it doesn’t reassure him because he has a scepticism toward the government all the time thinking it is basically and a lot of people trust it, a lot of people are buying and selling. Wanting to confiscate his gold, he doesn’t even have total reassurance that the government won’t come along. The more successful crypto is going to be and bitcoin he thinks the more you have to be aware of what’s going on with the government becoming more aggressive as governments are pretty ornery. 

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

In comparison to the government’s school system, Paul then compared crypto assets to those in the private sector offering better services in the world of education. If you are too successful the government is going to want to close you down and he thinks that’s the way it is in finance too, in case you are doing private education outside the government’s education system such as home-schooling or private schooling. Paul continued to criticise the IRS and the Fed’s massive 2020 money creation during his conversation with Livera. 

Paul said about crypto advocates who support free markets, as of now it does look like a lot of people now believe in the marketplace and believing it can work. To be vigilant is his idea. He reads the stories about the IRS checking up on things as there is information collected the crypto exchanges are not anonymous. 

Further continuing, the former congressman was saying: 

What did they do immediately? Up until 1975, they made it illegal to own gold. 

Paul was very adamant about letting people make their own financial decisions during the podcast. About that specifically, he highlighted that he likes the idea of how cryptocurrencies have made people think.

Adding that he likes bitcoin’s supply limitation as well was the self-professed gold bug and precious metals fan also. 

The Conclusion 

Paul then added that there’s a limitation of the creation of new currency as the other thing he likes about it is so far. Saying it will work if fraud is prohibited when he endorses cryptocurrency as well as bitcoin, he always admonishes. That’s why the system always goes badly as governments are used to doing fraud.