Rand Paul Suggests Backing Bitcoin With Stocks 404
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.'"
History (Score:5, Funny)
Those who fail to learn history are doomed to repeat it
Breaking News: Rand Paul Invents... (Score:5, Funny)
...the concept of the "mutual fund".
I can almost smell his clutch burning as he mentally shifts back and forth between "currency must be free of government intervention" and "currency must be backed by gold or silver"...
Re:What the hell? (Score:0, Funny)
he's in a top US political position, was your question rhetorical?
Re:History (Score:5, Funny)
Must be, if he did not see this coming.