The banking system has gained a lot of attention this year as it struggles to keep the economy moving. The repo market poses more danger in the US than crypto. Yet, the government has persistently been imposing strict policies and regulations on the crypto industry.
In an interview with NBTV during the recent Litecoinsummit, Paul acknowledged that the government has a huge responsibility. Instead, it has been messing up and causing depressions and recessions.
Dr. Paul sees competition as an important ingredient in the growth of every economy. He thinks decentralized digital assets are healthy competitors to the economy.
Could Bitcoin Save the Day?
Paul acknowledged that there are overwhelming flaws in the current financial system. This has resulted in failure of the banks to protect people’s funds.
According to Brockwell, the interviewer, Paul was one of the first few people who attempted to educate people about monetary policy even before the inception of Bitcoin.
Ron Paul, in the interview, predicted a massive economic crash. Brockwell also added that, this stage of the economy requires people to rather protect their wealth instead of making more.
In his concluding statement, Paul said that people should be aware of what the government is actually doing. This will enable them to prepare and take best decisions should the worst happen.
Could Bitcoin be the savior? – Only time will tell!