Wrong. You can have a central authority that issues money and still have a censorship resistant system -- this is what paper cash is, and this is what is possible with the digital cash systems academic cryptographers have been studying since the 1980s.
In other words, you can set things up so that no single authority can fail in a way that would cause the entire system to fail. You can have N authorities such that a minimum of K are needed to keep the system working.