WOW! New Shackles for Government!Submitted by happygeorge on Fri, 09/21/2012 - 07:52
I was just reading Ron Paul's Liberty Defined book, he says so himself: "The restraints placed on our government in the Constitution by the Founders did not work."
So I propose you read the following article on Bitcoin:
"what power would the Zimbabwe government have if its people had had Bitcoin in their communities - money they could hide and spend via cell phones and email accounts. What cause would there be in Greece to riot at the ECB mandates when the country can abandon the euro in favor of a money that each of them controls unto themselves. And from where would the US get the resources to deficit-finance its wars and welfare programs when it no longer has the ability to print money and pay back debt with debased currency? Like a gold standard, Bitcoin shackles a government and forces it to subsist only on what it can tax openly and legitimately borrow, but unlike a gold standard, Bitcoin doesn't require any official status to become a standard. The market can arrive at the standard sans government approval, again because it works elegantly both for storage and transfer and it cannot be stopped because it exists in decentralized form."
I think, Ron Paul will love to see Bitcoin compete with or without FED approval! Let the competition BEGIN! :)