Opposition to the introduction of a digital currency in Canada
Canada has recently seen some disturbing and shocking events linked to the introduction of a digital currency. The Central Bank of Canada (CCB) is currently pushing for the adoption of digital currency, known as Canadian Digital Currency (CDC), in order to move from physical to digital currency. BCC Vice-Governor Carolyn Rogers explains that the objective is to survey Canadians to find out if they would like to see the CDC adopted. Depending on the results of the survey, the decision will be made as to whether or not to implement digital currency.
It’s important to stress that CDC is not intended to completely replace physical money, but rather to coexist with it as part of a transition to a cashless economy. The BCC’s objective is to limit the use of the physical Canadian dollar and the physical US dollar in favor of digital. It is emphasized that the CDC will not be imposed by force and will be integrated into the existing financial assets of individuals.
We don’t want to be controlled
However, many Canadians are opposed to the adoption of CDC. Some citizens fear the surveillance and government control associated with a digital currency. They express their distrust of the potential cancellation of their money by the government, and question the notion of trust placed in this new currency. There have also been calls to question the methodology of the survey proposed by the BCC, claiming that it is propaganda aimed at justifying a decision that has already been taken.
Canadians are reacting on Twitter. Ann Roll, a survey participant, expresses her views on the introduction of a digital currency in Canada. She mentions the various payment methods she uses, such as Visa bank card, PayPal debit card, Apple Wallet, Apple iPhone and Apple Watch. She also specifies that she keeps some cash in her wallet, but doesn’t want any.
Others, like Aleyen Osorio, are firmly opposed to the idea of a digital currency. They point to concerns over government monitoring and cancellation of money, and fear that this gives the government the ability to cancel citizens’ money at its discretion. Some participants also criticize the Canadian president, describing him as arrogant and pretentious. He is also highly regarded by other presidents, who strongly support this economic program.
A Lire: North Korea and the challenges of developing spy satellites: A complex perspective “
Public manipulation
It is necessary here to mention past demonstrations in Canada, where citizens expressed their opposition to the government’s restrictive measures. Reportedly, the government had blocked the money of those present at the demonstrations, and even of those who wished to lend their support by sending money by other means. This raises concerns about the future, where cash transactions may be limited. This was clearly a dictatorial attitude on the part of the Canadian government.
In addition, the U.S. Central Bank page announces a stimulus program with the CBDC, explaining that a sum of money will be deposited in the accounts of all citizens to encourage them to spend in order to stimulate the economy. Except that this money will only be valid for 30 days. We wonder about the consequences of such a system, where money would be perishable and disappear after 30 days if not used. This would lead to a society where transactions would be based on tokens rather than traditional currency.
Another participant, James Dueck, mentions the public consultation on the possible introduction of a CBDC (Central Bank Digital Currency). He declares that this poll is bogus and serves as propaganda to legitimize the decision already taken by the government. He also points out that few Canadians would support a CBDC.
Digital currency gains momentum worldwide
One video also refers to a person named Colin Deacon, a senator in Canada, who supports a “DIA” (Digital ID) system. This system has been tested in Ukraine, where people’s identities are placed on the Internet, including all their personal information, bank accounts, health status, etc. The DIA system is described as a system without physical currency, where individual rights are limited.
This system has also been implemented in China, and has raised concerns about the loss of rights and centralized control. Some criticize political leadership for dictating choices to citizens, deeming them incapable of making informed decisions for themselves.
Canadians have to make their mark politically in this story. Nevertheless, final decisions have yet to be made, and will depend on the results of the survey as well as political and economic considerations.
We conclude by inviting viewers to have their say on the matter and express their concerns about this potential move towards a cashless, controlled society.
Totally inspired by Zack Mwekassa’s video
