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IPFS News Link • Bitcoin

Ron Paul Warns of Government Crackdown on Bitcoin -- 'The Government Is the Threat'

•, by Kevin Helms

"The government is the threat," he said, noting that "they will crack down because they have the ability to do it."

Ron Paul Warns of Government Threat to Bitcoin

Former presidential candidate Ron Paul shared his view on the government's intervention on bitcoin in an interview last week with Kitco News' Michelle Makori. Paul is an American author, physician, and retired politician. The former congressman from Texas launched The Ron Paul Liberty Report in 2015 to bring "provocative opinion and analysis to the breaking issues affecting our lives and finances," its website describes.

Paul was asked about the "threat of potential gold confiscation or one form or other of government intervention because that concern is rising." Several well-known hedge fund managers, like Bridgewater Associates founder Ray Dalio and "The Big Short" investor Michael Burry, have said that "safe-haven assets are not necessarily going to be safe from government intervention," Makori recalled. "They expect possible tax changes or regulations that will prevent a flight of capital to these assets that could be viewed as an alternative to the dollar, like gold, like bitcoin." She then asked Paul, "Could they be at risk of a government crackdown?"

The former congressman replied:

"Absolutedly … the government is the threat because they will crack down because they have the ability to do it."

He added: "We had a taste of [a free society]. If you don't know where to start, just start with the Constitution, that might give you an idea of what a free society is all about."