Ron Paul, the famous libertarian and economist, recently released a paper titled ‘The Dollar Dilemma’ that explores the relationship between centralized infrastructure of the economy with the world. The paper outlines the disaster that our monetary system has become in today’s date, and suggests that coupling precious metals with cryptocurrencies could be the efficient tool to battle the worsening world economics.
Ron Paul has run for the U.S. presidency several times in the past. Despite the fact, his opinions are revolutionary and seldom ‘system-oriented’ in nature; unlike other political figures of today. Paul has propagated views such as ‘ending the Federal Reserve’, or to put it pragmatically, regular auditing of private banks and tracking their operations across the years.
These libertarian ideas have inspired many to lean towards free-market economics in the true sense of it, by questioning the current ways of our governments.
In his paper, the veteran thinker has also mentioned the ‘Deep State’. He wrote:
“The economy is run by a conglomerate of individuals and special interests, in and out of government, including the ‘Deep State,’ which controls central economic planning.”
Furthermore, he expressed his vision that people should possess the freedom to choose whether they want to use crypto without the pressure from central authorities. He said:
“…free people in the marketplace make the choice whether the use cryptos, absent the dictates of government and central banks.”
According to Paul, the marketplace is well-capable of distinguishing the pros and cons of cryptocurrencies and precious metals and does not need much intervention from the government to pan this out.
“It’s conceivable that cryptocurrencies, using blockchain technology, and a gold standard could exist together, rather than posing an either-or choice — Different currencies may be used for certain transactions for efficiency reasons.”
Paul believes that technical science can be used to advance civilization given that nobody ‘owns’ it.
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