The Bank of Canada is researching a digital version of cash. Here’s what that could mean for you

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[–]hfxB0oyA[S] 7 insightful - 4 fun7 insightful - 3 fun8 insightful - 4 fun -  (0 children)

From the article:

For the last few years, the Bank of Canada has been working on the logistics of a potential Central Bank Digital Currency

Funny how this was dismissed as conspiracy theory as little as a year ago.

[–]Questionable 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (3 children)

Cash is already digital. So, this is something different, for some reason. '

[–]HiddenFox 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (1 child)

I got 2 crisp $50 bills in my wallet that disagree with you!

I've noticed in my business an increase in cash in 2023. (Close to 20% up from around 10% in 2022.) We used to be about 25% pre pandemic.

Ever since the government of Canada ruled that a business can pass along the service fees of Debit/Credit Cards and show it on the receipt some people have become more informed and are pushing cash. I've heard this from other business owners too.

[–]Questionable 2 insightful - 3 fun2 insightful - 2 fun3 insightful - 3 fun -  (0 children)

Interesting. But in no way contradicts the fact that most currency is digital, and has been since the 80's.'

[–]Bigs 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

This will be programmed. Meaning they can control what, when, how much, how often, how far, how anything.

Slavery.

[–]IkeConn 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Drug dealers will not like this. I wonder who they will kill first.

[–]Dregan-yea 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

I use cash everywhere and will continue to do so...I recommend every do the same.

[–]wlh0242 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

What it means for you is: The Canadian government having the ability to control your entire life.

Back in the 1800's and early 1900's timber and mining companies issued "Scrip" to their employees, in lieu of the US Dollar. These companies would then setup a company store where they'd have a monopoly and then markup the prices. Expect something similar and more sinister from your government as they'll have no problem with turning your money completely "OFF" based entirely on your political beliefs as demonstrated with the Trucker Protests.

[–]Karce33 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

80% of Canadians don't want it, and they know it

https://www.ctvnews.ca/business/respondents-to-bank-of-canada-questionnaire-largely-oppose-creating-a-digital-loonie-1.6665797