IMF Managing Director Christine Lagarde discusses bitcoin

bitcoin question at 52:38.

Q&A – An Audience With Christine Lagarde

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.

Bitcoin question

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.

christine-lagarde-imf-bitcoin

Statist overload

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!

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3 Comments

  1. Thomas 3 years ago

    Have we heard the same speech? She didn’t smash bitcoin, she said she was open to technology innovations in banking as long as it follows regulations, which is true. Bitcoin needs official regulation, it can only make it stronger.

    • Author
      James Canning 3 years ago

      Hi, Thomas, Bitcoin does not need government regulation (I assume that is what you mean when you say “official”). In fact government can not regulate bitcoin, they can only regulate how we the people are “allowed” to use it.

      Bitcoin is regulated by code and by math. Both of which I have more faith in than governments. However when governments try to regulate bitcoin that will give permission for existing business to embrace it which will indeed help bitcoin.

  2. Baz 8 months ago

    From someone that is exempt from paying taxes. Tsk.

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