Tuesday, June 12, 2018

IMF Chief's support of cryptocurrency belies the fact they know the currency monetary system is doomed to collapse

In the world of banking, Wall Street, and politics, whenever an official suddenly comes out in favor of something it is very likely they have ulterior motives in mind.

Take for example Christine Lagarde.  She of course is the head of the IMF, and a full blown advocate for globalism, central banking, and the continuation of the fiat currency system.  Yet back in April Lagarde suddenly shifted her view on Bitcoin and other decentralized cryptocurrencies to now be advocating that they could perform a very important function in the global financial system.

Despite these ongoing struggles in the financial sector, Christine Lagarde has an optimistic view for cryptocurrencies. More specifically, she previously reported how Bitcoin can enable fast and inexpensive transactions. It is a solution the financial sector has been looking for over the past few decades. However, this currency will not be used globally unless the proper regulation is put in place. 
According to the IMF chief, the crypto assets which survive “can play a role in how people save, invest, and pay their bills”. That in itself is a major nod of approval toward Bitcoin and other similar currencies. Without the confidence and support of authorities and consumers, however, the cryptocurrency will continue to face an uphill battle first and foremost. – News BTC
Now why would she do this when she has been long promoting using the SDR to someday replace the dollar as the global reserve currency?  Perhaps because she realizes that when the dollar dies, confidence in purely fiat forms of money will not be high.  And by adding cryptos to the 'basket' of currencies already in the mix, the IMF could use this deception to con the masses into accepting their global money.
U.S. dollars are used officially or unofficially as a currency in many countries with a history of economic instability, and Lagarde said digital currencies could become a better alternative to paper banknotes. 
However, she added that existing digital currencies had technical problems which would need to be solved. 
Interest in the SDR got a small boost last year from the addition of China’s yuan to the basket used to calculate it, Lagarde said. Digital currencies could potentially join it in future, Lagarde said. - Reuters
Christine Lagarde is the poster child of what we have been saying about how the establishment sees alternative currencies all along... if you can't kill them, then co-opt them. 


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