When Your Parents Are Right (But You Don't Listen)

ECB President Christine Lagarde just revealed something hilarious at a town hall: her son in his 30s ignored her crypto warnings and lost about 60% of his investment last year.

"He ignored me royally," Lagarde said. "He lost almost all the money."

Here's the plot twist—Lagarde has been one of crypto's biggest critics, repeatedly calling Bitcoin "worth nothing" and saying central banks should stay far away from crypto's volatility. Her son apparently decided he knew better.

The irony? He eventually agreed she was right, but only after taking the L.

Lagarde isn't alone in this. Bitcoin critic Peter Schiff watched his own son Spencer become a Bitcoin bull (at least for a while). "The younger generation always thinks they know something their father didn't know," Schiff said.

The lesson here: sometimes the financial hawks in charge actually know what they're talking about. Even if you don't want to hear it.