The Fortune prepared an interesting and illustrative list of Bitcoin and crypto mentioning by prominent officials who are currently attending the first post-Covid annual Economic Forum in Davos, Switzerland. Let’s look what they said, according to the popular financial magazine:

International Monetary Fund Managing Director Kristalina Georgieva compared some cryptocurrencies to pyramid schemes.“When somebody promises you a 20% return on something that is not backed by any assets, what would we normally call this? We would call it a pyramid,” she said during a panel discussion on Monday. “In other words, this is a pyramid [scheme] in the digital age.”

Speaking to WEF Founder and Executive Chairman Klaus Schwab for an episode of Radio Davos, European Central Bank President Christine Lagarde said “cryptocurrencies are not currencies at all.” “They are speculative assets, the value of which changes enormously over the course of time, and they present themselves as currencies, which they are not,” she said. “We should call a spade a spade. An asset is an asset, it has to be regulated as such, has to be supervised by the asset regulators and supervisors, but should not claim that it is a currency. It is not.”

In the same vein, François Villeroy de Galhau, governor of the Bank of France, said at Davos on Monday that he does not refer to crypto assets as cryptocurrencies. “They are not reliable currencies, they are not a reliable means of payment,” he said. “In order to be a currency somebody must be responsible for the value — nobody is responsible for the value of cryptos. And it must be accepted universally as a means of exchange — it’s not.”

Meanwhile, Sethaput Suthiwartnarueput, governor of the Bank of Thailand, told an audience at Davos: “it’s fine if you want to invest in [crypto], but we don’t want to see it as a means of payment because it’s not appropriate.”

The character and scale of cryptoasset markets are developing quickly, and “if current trends continue, cryptoassets will pose risks to financial stability,” the European Central Bank warned on Tuesday in its semi-annual financial stability review. “It is therefore key for regulators and supervisors to monitor developments attentively and close regulatory gaps or arbitrage possibilities,” reads research published by the institution. “As this is a global market and therefore a global issue, global coordination of regulatory measures is necessary.”

This is very unfortunate and uncoincidental, that negative remarks are being voiced, again and again, exclusively by representatives of the centralized financial system who have zero interest in laying out real arguments, let alone allow multipolar discussion on the hot topic. Crypros and decentralization wouldn’t have occupied so much space in our lives if global finances were in good order. Many prominent investors keep voicing their concerns tirelessly. So the main question of an honest financier is “what else if not decentralization?” Take as an example formerly beleaguered Russian ruble which instantly recovered more that half of its value as soon as it was virtually unpegged from dollar and euro because of reciprocal sanctions! Not endorsing or blaming current geopolitical events, one question becomes apparent for every unbiassed truthseeker: are world currencies’ valuations so much distorted, that even a temporary dropout of some of them causes such a violent movement? What are real values of the euro, or British pound, of Japanese yen and based on what criteria we must measure them in an absence of a palpable yardstick(-s)? No single government executive is even willing to mention those horrible things, let along discuss them!

However, let’s praise the IMF chief Georgieva for following the matter from the different angle showing that, at least, she is interested to get competently involved if a relevant top-ranked discussion to arise. According to Bloomberg, people shouldn’t completely shun the crypto world after the recent collapse of a popular stablecoin. “I would beg you not to pull out of the importance of this world,” Kristalina Georgieva said at the World Economic Forum on Monday. “It offers us all faster service, much lower costs, and more inclusion, but only if we separate apples from oranges and bananas,” she said, adding that it’s the responsibility of regulators across the globe to secure relevant infrastructure and offer education to protect investors’ interests. Georgieva noted that there are many types of assets with varying levels of associated risk. For instance, there’s a big difference between stablecoins that are backed by cash and other assets and those that rely on algorithms to maintain their value, like the Terra coin, she said. True stablecoins are only viable as long as they effectively and directly maintain a 1-to-1 value to a reserve asset like the US dollar or gold.

“What surprised me was just how fast it completely imploded into nothing,” Jeremy Allaire, CEO and cofounder of Circle Internet Financial, whose USDC stablecoin is pegged to the U.S. dollar, said of Luna’s collapse. “To see something that seemed like an apparent, high growth competitive thing just completely implode to zero in 72 hours, I have never seen anything like that,” he told Reuters. But recent losses have not dented the crypto companies’ plans to show off their products and services.

Tether, one of the world’s largest stablecoins, offered passers-by free slices to celebrate Bitcoin Pizza Day on May. 22, when in 2010 Lazlo Hanyecz paid for two pizzas with 10,000 Bitcoin, worth about $41 at the time.

But the renowned author of the personal finance bestseller ‘Rich Dad, Poor Dad’ Robert Kiyosaki, took to Twitter on May 23 to voice his thoughts on the current global market situation in light of the Davos Forum and IMF warnings that the globe is facing the worst financial crisis since World War II. The outspoken financial guru hinted at a potential World War coming and, in turn, advised to save gold, silver, Bitcoin, food, guns, and bullets. He tweeted:

“May 23, 2022: DAVOS, Switzerland IMF warns world faces greatest financial challenges since WWII. Global disaster has been coming for years. Desperate leaders will do desperate things. World War coming? God have mercy on us. Save gold, silver, Bitcoin, food, guns, and bullets.”

Interestingly, Kiyosaki recently tweeted: “I remain bullish on Bitcoin’s future.”

Furthrmore, another iconic person, an American economist who served as the 71st U.S. Secretary of the Treasury from 1999 to 2001 and as the 8th Director of the National Economic Council from 2009 to 2010 and as president of Harvard University from 2001 to 2006, Lawrence Summers was also very candid and straightforward about odd economic processes and their far-reaching consequences. Early last year, Larry Summers sounded the alarm about President Biden’s $1.9 trillion American Rescue Plan, saying it was the ‘least responsible’ economic policy in 40 years and that it could engender significant and persistent inflation. Turns out Summers, a self-described progressive, was right.

More on what Summers saw that others missed in a second, but first I want to focus on that last political point, because Summers was essentially calling out his own party—which maybe isn’t surprising.

Summers felt compelled to defend himself in a subsequent post piece entitled, “My inflation warnings have spurred questions. Here are my answers.”(Clarida, who resigned from the Fed earlier this year after he “faced scrutiny about trades he made in 2020 as the central bank was poised to rescue financial markets,” for one, now says he saw the danger of inflation as of last summer and is currently calling for strong interest rate hikes.)

Head-to-Head Comparison of EURO and Bitcoin Volatility Indices

All in all, judging by the above chart, in terms of volatility Bitcoin easily defeats any fiat currency in the world – in this particular example, euro. At least, by this important metric it deserves a big respect even from the traditionally skeptical government officials.