Sen. Rand Paul sees global role for crypto

Axios ^ | Oct 24 | Mike Allen, author of AM

[RandFan]

Sen. Rand Paul (R-Ky.) tells me in an interview for Sunday's "Axios on HBO" that cryptocurrency could eventually replace the dollar as "the reserve currency of the world."

Why it matters: The senator says he's begun to ask that question as more and more people lose confidence in governments, which used to have a monopoly on money.

Context: When Paul ran for president in 2016, he accepted donations in Bitcoin — part of what gave his campaign its youthful appeal.

[philman_36]

as more and more people lose confidence in governments, which used to have a monopoly on money.

Hey, Rand, how many one dollar denomination Federal Reserve Notes does it take to buy a single $1.00 .999 silver coin from the government mint?

Methinks you're making the wrong entity out as the villain here.

[philman_36]

https://catalog.usmint.gov/american-eagle-2021-one-ounce-silver-uncirculated-coin-21EGN.html?cgid=silver-dollars#srule=price-low-to-high&start=1&sz=9
American Eagle 2021 One Ounce Silver Uncirculated Coin
West Point (W)
$67.00

[philman_36]

A one dollar coin of one ounce fine silver from the government mint costs 67 one dollar denomination Federal Reserve Notes!
If you used that coin in a store you would still only be able to buy one dollar worth of Federal Reserve Note goods.

Think about that!

[Kevmo]

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