In February 2014 International Monetary Fund (IMF) Managing Director Christine Lagarde appeared on Q&A to answer 1 hour of questions from the public. Q&A is the Australian Broadcasting Corporation’s (ABC) highest-rating program. Ms Lagarde is one of the most important figures in the old, centralized, money-as-debt system we are disrupting.
One great question on crypto 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 middlemen.
In reply, Ms Lagarde wheeled out the all too predictable line that crypto is suspicious and she is concerned about money laundering. She let us know there needs to be a centralized government at the heart of everything for it to be valid, worthy and safe from evildoers.
Ms Lagarde 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 crypto for money laundering. She did admit the current system was not perfect.