Ex-politician Paul: Crypto currencies are a way out of the crisis

With Ron Paul an avowing fan of the Bitcoin speaks to the current difficult market situation. He is not criticizing the FED interest rate policy. At the same time it recommends a fiscal reorientation. Crypto currencies play a central role in its scenario.

Warning of renewed massive global economic crisis

The former politician of the Republican Party has long been known as a critic of US fiscal policy and in particular of the Fed. Just in time for the holidays, Paul warns of a collapse of the financial markets to an extent comparable to the 1929 crisis. In his opinion, things could get even worse. In particular, Ron Paul attests the rising interest rates a considerable contributory cause for the slumps in the market, whereby this was also the case for the crypto prices. The former (not always uncontroversial) politician sees opportunities to halt the development of the crisis in 2018, as he reveals in recent interviews.

Paul calls for the end of the Federal Reserve

The fact that crypto currencies such as Ethereum, Ripple and many others come up for discussion is not necessarily surprising. After initial criticism, Paul is known as a supporter of Bitcoin. For this reason he not only demands the abolition of the FED in the media, after the authority had corrected the interest rates upwards several times.

Precious metal and crypt yields should be tax-free

In particular, Ron Paul publicly advocates that the state should end the taxation of digital currencies as soon as possible. The same applies to precious metals, which in his opinion should also not be subject to capital gains taxes or other burdens. The “crypto lover” hopes that this will lead to a greater influx of normal investors into Bitcoin and other currencies. The concept may well contain problems. Nevertheless the attitude is important for the industry, because straight the US politics shows up indifferent with the topic still.

Prominente proponents could gradually break investor restraint. And especially in times of falling prices, these are important signals – even if Paul is no longer active as a politician. His voice still carries weight with many citizens.