President of the European Central Bank Christine Lagarde will never allow crypto to flourish on her watch and will do everything in her power to make sure it fails inside Europe.
Lagarde is part of the global establishment of low rates and “transitory” inflation that turned out to be 100% wrong.
But like many of these global bureaucrats that often fail miserably, their reward is to continue the same job since the only person who can fire her is herself.
Lately, Largarde shut down any notion that her fellow colleagues at the ECB should get a raise tied to the 8.5% inflation running through the European economy.
She has zero compassion for the median European worker to say the least.
As bad as US Central Bank Governor Jerome Powell has performed, Lagarde outdoes him by quite a distance.
Europe still has 0% rates and has only just acknowledged that they might have to raise rates this summer.
So it’s no surprise this Davos trotting Bank President who wears a $10,000 scarf to her interviews takes every chance to criticize the existence of crypto.
Largarde’s view is crypto is “worth nothing. It is based on nothing, there is no underlying assets to act as an anchor of safety.”
She added that she’s worried about people speculating on cryptocurrencies with their life savings as they may not be aware of the risks.
This remark is ironic since Lagarde is doing her best to bankrupt the European middle class to the point where they have nothing either.
Her remarks come amid recent turmoil in crypto markets, which have shed over $1 trillion in value over the past six months.
In short, this crypto industry figures to be either an American-dominated industry in the future or nothing at all because the rest of the developed world isn’t in tune with the idea that crypto will be a big part of our lives in the future.
Granted, Lagarde bashing on crypto makes her look like an enforcer right at the moment when many have lost their life savings because of the poor performance of Bitcoin.
The EU elite and Largarde despise crypto because it threatens to undermine their money-printing scam - which they use to steal from savers in order to bankroll their ever-closer union agenda.
This is at the same time the ECB has printed the Euro to oblivion and actively debasing Largarde’s own currency.
Every fiat has gone to zero over time and Lagarde will be looked at in history as one of the accelerators of this concept.
Lagarde’s bashing of crypto is a distraction from her own European Ponzi scheme of all time is: the current fiat financial system. Debt is issued daily to pay off past debt. A cycle they can’t break and count on the general public being too financial-illiterate to catch on too.
Lagarde's financial view is highly negative crypto because crypto performs terribly in hyperinflationary environments and is awful when the people in power want to ban it.
The price of Bitcoin is going to$20,000.
