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Why Does Ron Paul Think Bitcoin Does Not Fit The Definition Of Money?

• Lewrockwell.com
 We have a terrible monetary system today. We have a government that purposely counterfeits and debases the currencies and I believe that the alternative would be a competition. That means that anything that wants to substitute for the American dollar should be permitted. There should be no prohibitions; there should not be a monopoly and a cartel running our monetary system because it so often benefits the privileged few. We certainly saw this in the bailing out of the financial system where the wealthy bankers got bailed out it in this recent and severe recession. I am a strong believer in competition. Bitcoin is an introduction to that.

1 Comments in Response to

Comment by Tim Frey
Entered on:

 

Notice that he never answers the question; "Why does he not think it is money?" Totally dodges it. Does express concerns many prople share. Restates that he doesn't think it's money. Doesn't say why. Hmm

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