By CCN: Dr. Ron Paul, former twelve-time US Congressman and three-time presidential hopeful, has stated that money comes from the market, not from Central banks. Ron Paul made the comments during an interview at CoinDesk’s Consensus 2019 in New York City last week.
Paul, who also spoke a meetup called Satoshi Square and a smart contract activist hackathon while in NYC attending Consensus, said that central banks were not the first thing to happen 6,000 years ago at the dawn of civilization.“No matter what system they have, the government comes in to get control because that is where the power is,” he said. Regulations and Banning Crypto “Detail-wise I don’t know what they are doing yesterday, today but I do know that they are watching,” he added. “They are always watching because If you look at monetary history, governments always want and work for monopoly control of the monetary system, whether is gold, silver or peanut. And they’ll not give cryptocurrencies free ride.”
Paul, who has delivered thousands of babies as an OB-GYN, explained that his goal is to provide the environment necessary to come up with an alternative to central banks.“The more monopolized a currency is the worse [off] it is, and this is what has happened, and this is how to expand a government,” he said. “You can’t expand the government without a system like the Federal Reserve.”
This is not the first time he has called to abolish central banks. He called for it after it raised the baseline interest rate a quarter of a percentage point, to a range of 2.25% to 2.5%, in mid-December 2018.Spotted at #Consensus2019. They do love Ron Paul here! Conference winding down at the end of Day 3. pic.twitter.com/lBrbhqipUF — David G Zeiler ⚡️ (@DavidGZeiler) May 15, 2019
According to Ron Paul, who hosted a book signing at Consensus 2019 the Federal Reserve should let the free market discover interest rates. But, he says a big problem is how to rein in and make...