Lagarde spreading LOVE
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“The day when we have the central bank digital currency out, any digital euro, I will guarantee. So the central bank will be behind it, and I think that’s vastly different from any of those things [cryptocurrencies].”
the fact that she can’t see her “guarantee” as vastly *inferior* to bitcoin’s multiple guarantees really makes me question whether she’s full of it or really that delusional.
And Euro is backed by… your word?
What he should have also asked “How many people here have seen their savings go down due to inflation of our “trusted” national currency?”.
They’re really dying on this hill huh… funny watching “experts” showing off rudimentary understanding of modern economics
Here’s the question no one asks:
“When you say that when you issue a CBDC that it will be backed by you/the government, what does that mean? Is it just that you will continue enforcing merchants to accept it, or do you promise to back the purchasing power of that CBDC against the goods and services we need in order to live?”
…and if so, how the hell do you plan to do that? lol
She has it backwards. The Euro is backed by nothing. Bitcoin is the embodiment of the work it took to calculate the hash. Bitcoin has intrinsic value.
Christine Legarde is a convicted criminal.
All fiat are backed by violence and force to use the fiat. Taxation, foreign trade, forcing currency upon other economies (petrodollar), are used to increase demand of fiat. Even the assets used as collateral (treasuries) are indirect fiat.
The only way to increase the value of your imaginary fiat asset, is to force more demand of the asset onto people. This is why the US government would rather the poor in USA suffer than accept Russian loan repayment in anything other than USD.
Centralizing the currency is essentially a takeover of the economy, where you make interest off the GDP of said economy.
I understand the risk and its worth the risk if this leads to the currency not being manage by this clowns
That guy in the end gives me Europe version of mr. robot vibes
[https://scale.coolshop-cdn.com/product-media.coolshop-cdn.com/AE3YS4/c376cd5ed38f4d4a9b6b4480d184cfe9.jpeg/f/mr-robot-season-1-dvd.jpeg?borderless=1&width=1920](https://scale.coolshop-cdn.com/product-media.coolshop-cdn.com/AE3YS4/c376cd5ed38f4d4a9b6b4480d184cfe9.jpeg/f/mr-robot-season-1-dvd.jpeg?borderless=1&width=1920)
To make Ӿ. That is right.