Ron Paul: the US Dollar is a “ticking time bomb” & is “Bitcoin an Alternative to Fiat currencies”
Home News Ron Paul: the US Dollar is a “ticking time bomb” & Bitcoin “an Alternative to Fiat currencies”
Marcel Knobloch –
The debate over the importance of Bitcoin as a replacement for Fiat currencies has recorded in the last time again, with different personalities expressed their thoughts.
Ron Paul, a former U.S. Congressman, is one of them. The former U.S. presidential candidate and Congressman is a long-time critic of the Central banking system and the Federal Reserve. In the past, the libertarian, American politicians several times for crypto-currencies and suggested that the liberation of crypto could help currencies of the tax to avoid a “by the Fed-created recession.”
In a new Interview, Paul explains how the US Central Bank has a bubble with the US Dollar created that is on the verge of Explosion. Paul explained that he believes that Bitcoin could be a suitable Alternative that can reduce the risks, the national currencies for the world economy. Paul claims in the new Interview with Bitcoin Magazine, that the US Dollar is in a “bubble” and awaits an imminent financial crisis that will make the recession of 2008 in the shadow. Paul says that the end of the US dollar is inevitable, and compares the Fiat currency with a ticking time bomb that is the “self-destruction” ready.
As to the question of what could replace the US Dollar, speculation, Paul, that Bitcoin “could be an Alternative”. The Dollar is inherently inflationary, and loses every Time its value if the US Central Bank is printing more money. Meanwhile, Bitcoin, which was developed in the Wake of the economic crisis of 2008, deflationary and retained earnings is due to each “Halving” of more value.
During the interview, Paul mentioned that he had not understood the technical aspect of a Blockchain in particular: Basically, he was very “intrigued” by the possibilities that Bitcoin offers:
I am interested in what happens when the market collapses, and I am interested to get an environment in which people alternative ideas, which could help to solve the problems we have. I think that is what Bitcoin offers an Alternative. I want a free marketplace.
Paul is the first presidential candidate who was accepted already in 2015 Bitcoin donations through its political Foundation. In the Interview Paul said that he currently owns no Bitcoin, and that all donations are immediately converted into Fiat currencies, to pay the invoices.
Featured Image: Albert H. Teich | Shutterstock