[2018-12-22] Ron Paul: Abolish the Federal Reserve, Embrace Bitcoin

[tyz]

Former US congressman, Ron Paul, has been bashing the Federal Reserve again after it raised interest rates a quarter of a point. The renowned Bitcoin fan, called for the Fed’s abolition, saying that the free market should dictate interest rates.
https://bitcoinist.com/ron-paul-abolish-fed-embrace-bitcoin/

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[btyco]

If they embraced bitcoin then there would be no interest rate dictated by the government, bitcoin price movements if distribution impoves would be dictated by the free market. Less whales and more distribution is needed though

[Betwrong]

The Fed has NO IDEA what rates should be. The Fed manipulates prices, distorts the economy, and makes decisions by looking at the “data” of a distorted economy.

It would be so great if manipulations were only performed by the Fed in its realm, and there were no such thing in the crypto market. But apparently this is not the case. It's a well known fact that free market is very vulnerable to manipulation, and, probably, the only difference between people who are into crypto and those who rely on the Fed is that the former don't actually "rely" on anything and are ready to accept what is coming their way.

[bL4nkcode]

It just like a fairytale, these people of fed will not let it happens. Though it would be much better if something like befalls but the only thing for a free market is manipulation and whales like miners.

[Kakmakr]

As a former congressman, Ron Paul has experienced first hand how the US economy are being manipulated to protect the rich elite and to impoverish the middle class. The Federal Reserve cannot print themselves out of the death spiral of the US debt ridden economy and Ron Paul recognize this predicament.

I think 2019 will be the make or break for a lot of the smaller economies and the US economy will be the trigger for their demise. You cannot strengthen an economy by printing toilet paper money. 

[tyz]

As a former congressman, Ron Paul has experienced first hand how the US economy are being manipulated to protect the rich elite and to impoverish the middle class. The Federal Reserve cannot print themselves out of the death spiral of the US debt ridden economy and Ron Paul recognize this predicament.

I think 2019 will be the make or break for a lot of the smaller economies and the US economy will be the trigger for their demise. You cannot strengthen an economy by printing toilet paper money. 

Agree. One just need to look at the #ShutdownStories on Twitter. So many people there which live from paycheck to paycheck. I am not from the States and I'm really surprised how many people get into financial trouble if they can not work for just a few days. The US need to make more and more debt in order to keep everything running otherwise millions of Americans will directly go into poverty and homelessness. And the Fed will give in sooner or later.

[nutildah]

Glad to hear Ron Paul is still alive and kicking, doing his thing. Man helped birth over four thousand babies, lol. He was my favorite politician before Bernie Sanders came along. Funny how these champions of the poor and the underdog that get the youth motivated to come out and vote are these ancient fuddy duddy types. There's no question in my mind that had Bernie Sanders won the democratic nomination he would have also won the presidency.