bitcoin question at 52:38.
International Monetary Fund (IMF) Managing Director Christine Lagarde appeared on Q&A, the Australian Broadcasting Corporation’s (ABC) highest rating program, to answer 1 hour of questions from the public. Ms Lagarde is one of the most important figures in the old, centralised, money as debt system we are disrupting.
We got one great question on bitcoin which referenced the lack of trust in the current system, advancements in technology and the growth of alternatives like kickstarter and peer to peer lending that remove the middle men.
In reply Ms Lagarde wheeled out the all too predictable “bitcoin is for money laundering derp” and even said it was suspicious. She let us know there needs to be a hierarchical centralised government at the heart of everything for it to be valid, worthy and safe from evildoers.
She had to make an effort to seem sincere with dramatic pauses and hand gestures as she knows big banks such as HSBC and cash are superior to bitcoin for money laundering. She did admit the current system was not perfect.
The other 57 minutes of the show was the usual type of ABC Q&A questions which boil down to
“Help us government you are the only ones who can fix problems, not us the people or me myself, we can’t do anything without you government. Even though you caused of most of the problems you will be the solution right?”
This is after all the government broadcaster. In this episode about things like quantitative easing, emerging markets, sustainability, economic growth, China, equality, distribution of wealth and gender equity.
The common thread in all the questions was that government intervention was considered the sole potential source of solutions. Ms Lagarde’s answers were predictably statist and narrow with formulaic economic reasoning.
It has been said watching Q&A is not a viewing choice, it’s a civic duty! Past episodes have featured David Hicks questioning John Howard who was Prime Minister when Mr Hicks was held without charge in Guantanamo Bay and Julian Assange questioning Julia Gillard after her government disowned him (both via video).
Q&A is not afraid to ask tough and controversial questions although the host, Tony Jones and producers showed they have the same low knowledge about bitcoin and money as most mainstream media hacks do.
Before I discovered bitcoin I used to love shows like Q&A that challenged politicians to explain their solutions to problems but bitcoin has shown me the government is the source of most of the problems to begin with and we the people have the potential solutions not the government.
Luckily no dogecoin fanatics were able to question Ms Lagarde!