Cryptocurrencies Can End America’s “Monetary Madness.” “End the Fed!,” Former Congressman Says

Ron Paul is perhaps one of the few American politicians who has taken his critique of the economic system to controversial levels. For the former congressman, the Federal Reserve has been the cause of much of the economic distortions by manipulating the entire U.S. monetary system to satisfy the interests of private bank owners.

Mr. Paul is known for this type of statement. In fact, in 2009 he wrote a book under the title “End The Fed,” in which he explains his vision of his country’s political and economic landscape and how the Fed has been so damaging to the quality of life of the population.

A few days ago, Paul took his criticism to Twitter, saying that “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. He then criticized the methodology used by the government to take economic decisions: “Central planning produces a world of economic delusions. America needs to get back to reality. End The Fed!”

In October, Ron warned that the Fed’s actions are likely to cause a new recession in a short period of time. This catastrophe could mark the beginning of the death process for fiat money just as the previous crisis marked the birth of cryptocurrencies.

Cryptocurrencies Can End America’s “Monetary Madness”

For the politician, crypto can help to escape the American monetary madness. He called on the authorities to exempt transactions in cryptocurrencies and precious metals.

The only way to avoid a crisis is to force Congress to end our monetary madness. The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.

Ron Paul’s ideas, while controversial, are debated because of the way he argues and sustains his words. Paul believes that while the use of fiat money gives politicians too much power, cryptocurrencies are a powerful tool to restore that power to the people.

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