Former US Congressman Ron Paul says Bitcoin should be legalized as a form of money, and that it should be allowed to compete with the Dollar.
In an interview with Kitco News, Ron Paul talked about inflation as well as Bitcoin, noting that the supply of money printing was pretty flat until 2020, when it simply rocketed, something which we at SugarWired have been talking about for some time.
Ron Paul also said he was “suspect of the government” especially when it came to economics in the interview with Michelle Makori on Kitco News.
Watch: Ron Paul says Bitcoin should be legalized
“Right now, if you buy and sell gold, you get it taxed, they can do that. If you make a profit in Bitcoin, you 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 went down 10%, you can’t take a loss because your dollar lost value,”Ron Paul. 2 June 2021
Ron Paul has long called for, and introduced bills to audit the fed (US Federal Reserve) and in the interview he states that he doesn’t expect the Fed to be big fans, as in his own words they want to “control the supply of money”.