Bitcoin to the Rescue as Ron Paul Says US Fed ‘Fake Economy Has Burst’

The United States Federal Reserve “fake economy has burst,” former presidential candidate Ron Paul has announced as money printing takes its balance sheet to $6.6 trillion.

In a series of tweets on April 24, Paul became the latest critic to launch a scathing on U.S. economic policy present and past.

Paul: swap central planning for sound money

According to the pro-Bitcoin retired politician, neither coronavirus nor a brief uptick in stocks can hide the impact of the Fed’s actions. For him, Keynesian ideas such as market interventions and money printing are “un-American.”

“The Fed’s fake economy has burst. The stock market, even if it rises, cannot hide the damage that has been done. The virus, now known to be less deadly than the seasonal flu, cannot act as a legitimate excuse either,” he wrote.

Another tweet read:

The un-American ideas of government micromanagement and Fed central planning of the economy have failed, and will continue to fail as long as they’re clung to….