Max Keiser’s Critique of Central Banks
In a pointed social media comment, Max Keiser, a seasoned financial journalist turned cryptocurrency advisor to El Salvador’s President Nayib Bukele, has expressed a stark view on central banks. He suggested that Bitcoin is gradually undermining these institutions. His remarks followed a recent address by Christine Lagarde, the President of the European Central Bank (ECB), in which she discussed the increasing popularity of central bank digital currencies (CBDCs).
Christine Lagarde’s Address
In her speech, Lagarde noted a pronounced drop in cash transactions across the European Union alongside a notable 50% surge in digital payment preferences. She warned that if the ECB does not begin to explore the development of its digital currency, it risks losing its longstanding role as a bedrock for both commercial banks and private monetary systems.
Keiser’s Response
Responding to this, Keiser asserted that Bitcoin is responsible for the crumbling dominion of central banks, which he claims has lasted for 300 years. He stated,
“The 300-year experiment in central banking is over. It failed, thanks to Bitcoin.”
Predictions on the Euro
Moreover, Keiser has shared his views on the euro, predicting a decline in its value towards zero against Bitcoin. Currently, Bitcoin’s price hovers around $117,990, while the euro is valued at €103,143. This price adjustment follows an announcement from Federal Reserve Chairman Jerome Powell about holding interest rates steady, a move that has drawn criticism from U.S. President Donald Trump, highlighting the ongoing tensions in the global financial landscape.
Conclusion
Keiser’s insights reflect a growing skepticism towards traditional banking systems in light of the rapid adoption of cryptocurrencies, which many see as a potential challenge to established financial norms.
