Quote from: pdawg on May 01, 2014, 10:47:06 PM

Full article here:

http://newsbtc.com/2014/05/01/rand-paul-thinks-bitcoin-backed-stocks/

"And actually my theory, if I were setting it up, Id make it exchangeable for stock. And then itd have real value. And Id have it pegged, and Id have a basket of 10 big retailers. Because I read [Marc] Andreessens article a couple months ago. What fascinated me about it was those 2 to 3% margins. If you multiply that out for all of Wal-Mart and they dont have to use Visa anymore, Im guessing the people who have to be worried here are Visa and MasterCard. I think it would work, but I think, because Im sort of a believer in currency having value, if youre 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 its hard for people like me who are a bit tangible. But you could have an average of stocks, Im wondering if thats the next permutation."

doesnt seem like a very good idea since stocks are manipulated paper. then the federal reserve can manipulate the stocks using their ppt to manipulate btc.. maybe with a reset of gold and silver to their real values instead of manipulated values then maybe have something.. i think stocks is not going to be able to compete against any currency backed by gold and silver which is a real tangible asset. maybe that is what he really meant.