When it comes to the cryptocurrencies, big brother is watching too close for comfort says former congressman and noted libertarian Ron Paul. “There is too much surveillance already on how the currencies are transferred, [how] the reports have to be made by the exchanges to the IRS,” said Paul, now the Chief Ambassador for Goldco. “If it is a really good deal and a good process rest assured the government will be looking at it very carefully…it makes me very nervous.” The former presidential candidate said he wanted to legalize all competing currencies when he was in office and says he is all for it. “If the people want it and want to use it, the government should stay out of it.” As for gold, the noted aficionado, who wanted a return to a gold standard, said the metal is headed in one direction. “There are some economic laws that set a trend and if you have a central bank that prints money out of thin air, in time gold goes up in price. It can only go up.” Not giving a specific price target, Paul said gold’s former highs of $1,900 an ounce are a no-brainer. “It’s just a matter of time…They will not stop printing money, the political pressure is too great so we can expect more monetary inflation,” he said in an interview Thursday.
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