Rand Paul Suggests Backing Bitcoin With Stocks

SonicSpike writes: "In a recent interview, Senator Rand Paul said there's one thing he would change about Bitcoin: it should be backed by something with intrinsic value, like stocks. He said, 'I was looking more at it until that recent thing [sic]. And actually my theory, if I were setting it up, I'd make it exchangeable for stock. And then it'd have real value. And I'd have it pegged, and I'd have a basket of 10 big retailers I think it would work, but I think, because I'm sort of a believer in currency having value, if you're going to create a currency, have it backed up by — you know, Hayek used to talk about a basket of commodities? You could have a basket of stocks, and have some exchangeability, because it's hard for people like me who are a bit tangible. But you could have an average of stocks, I'm wondering if that's the next permutation.'"

Comments

Re:Breaking News: Rand Paul Invents...

[Anonymous Coward]

Yeah. Libertarians are all for transparency, until big gov'ment enforces transparency, and then... MAH FREEDOMS!!1!
You're a bunch of entitled assholes, who've never known injustice or poverty, who 'chose' your parents wisely. You were born on third base, and think you hit a triple.

Occupy was anarchists not libertarians

[globaljustin]

one of the largest groups at those "Occupy" rallies were Libertarians

total bullshit...this is what Libertarians do...they construct fantasies about how they **wish** things went and then act as if its true

there were virtually zero Libertarians at Occupy

stop it...forever...your ideas are total shit & it's obvious you're in a political fantasy world