RATE Group | It’s Time to Abolish Federal Reserve, Embrace Tax-Free Crypto
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It’s Time to Abolish Federal Reserve, Embrace Tax-Free Crypto

21 Dec It’s Time to Abolish Federal Reserve, Embrace Tax-Free Crypto

Posted at 01:10h in Bitcoin News by

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Retired US Congressman Ron Paul — a bitcoin skeptic turned proponent — reiterated his calls to abolish the Federal Reserve shortly after it raised the baseline interest rate a quarter of a percentage point, to a range of 2.25% to 2.5%.

This is the fourth time that the Fed — the central banking system of the United States — raised interest rates in 2018. The move sparked renewed fears of a US recession that could potentially trigger a global recession in 2019.

Ron Paul said the Federal Reserve should let the free market dictate interest rates instead of artificially manipulating them.

Paul: ‘The Fed Distorts the Economy’

“The Fed has NO IDEA what rates should be,” Paul tweeted. “The Fed manipulates prices, distorts the economy, and makes decisions by looking at the ‘data’ of a distorted economy.”

Central planning produces a world of economic delusions. America needs to get back to reality. End The Fed!

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