Ron Paul on Brad Sherman: "Just another thug in Washington."

13 May, 2019
by David Borman
Update
Ron Paul on Brad Sherman: Just another thug in Washington.

As reported by Yahoo Finance, today saw former US Congressman Ron Paul speak at Consensus 2019, and in his talk he had a harsh rebuttal for Congressman Brad Sherman, calling him out for proposing a ban on all cryptocurrencies in the US recently.

Sherman specifically called for a new US law "to outlaw cryptocurrency purchases by Americans, so that we nip this in the bud." His reasoning was simply that the existence of crypto is a threat to the US Dollar, a point that crypto advocates would agree with, but say is a positive.

Now, Paul has responded and claimed that Sherman is essentially "just another thug in Washington." He went on to elaborate:

"They happen to believe they know what is best and they will run the show. They want to be the boss, they’re dictators, and he’s not unusual... He’s very typical in all degrees in all issues, whether it’s a social issue, like a few years ago when they decided the worst thing in the world is smoking marijuana."

Paul went on to support the idea that what drives this behaviour is the fear of what cryptocurrency means to the legacy financial system. He made it quite clear how he feels about the current system in the US:

"The system we have today is not viable, it’s out of control, the amount of debt that’s building up we might end up with the dollar but not the system."

At one point he was asked what type of regulatory system he himself would support if he was ever the president. To this Paul responded:

"I can only speak for myself but I think it’s pretty important is not to come in and the first two to three options on cryptocurrency are ‘one’s better than another and we want to manage it,’ no, you turn it loose … you try to keep the government out of it as much as possible."

In general, he made the case for small government and very hands-off regulation. It is no wonder the crypto world loves him so much. Will this affect the future of regulation in the US? Stick with Chepicap for all updates!

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