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Thread: Bank of Canada considers eliminating cash to better track individuals

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    Canada Avalon Member Justplain's Avatar
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    Default Bank of Canada considers eliminating cash to better track individuals

    Do we really want to have cash eliminated so that Big Brother can track our every financial transaction? I think not.

    The Bank of Canada is considering launching a digital currency that would help it combat the “direct threat” of cryptocurrencies and collect more information on how people spend their money, The Logic has learned.

    An internal Bank of Canada presentation, prepared for Governor Stephen Poloz and the bank’s board of directors, offers the most detailed public insight yet into the bank’s thinking on a proprietary digital coin. According to the presentation, the currency would be widely available. It would initially coexist with coins and paper money, eventually replacing them completely.

    The presentation, titled “Central Bank Money: The Next Generation” and acquired by The Logic via an access-to-information request, was prepared by Stephen Murchison, an adviser to Poloz tasked with leading the bank’s digital currency research, for a September 2018 board meeting. Murchison presented it as part of a two-year research project on whether or not the bank should issue its own digital money.

    https://business.financialpost.com/t...le-spend-money

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    Administrator Cara's Avatar
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Thanks for this Justplain.

    Quite a few nations around the world are considering or have already launched state digital or crypto currencies.

    These three posts give some details:
    *I have loved the stars too dearly to be fearful of the night*

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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    By all means proceed. News of the day from Australia and this is common all over the world. They can never do this until they get unbreakable software and as a software developer, maintainer and supporter, I can tell you that is a near impossible task. Cash is unbreakable!

    Major Outage Hits CBA Customers Forcing Closure Of Branches

    https://www.theage.com.au/business/b...17-p531nd.html

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    Australia Avalon Member Anchor's Avatar
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    More on Australian Government's position, they are serious about reducing the use of cash: Currency (Restrictions on the Use of Cash) Bill 2019

    https://www.treasury.gov.au/consultation/c2019-t395788
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Many here value privacy, but a lot of younger people who grew up craving attention from absentee parents relish the idea of the government knowing their every move. On Facebook they post what they had for breakfast. They pay for everything with a card. They would probably like the idea of a chip under their skin so they can be remotely monitored and controlled. Like that Star Trek episode where you are reported if you are not "of the body" -- that's their utopia.

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    Canada Avalon Member Justplain's Avatar
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Quote Posted by TomKat (here)
    Many here value privacy, but a lot of younger people who grew up craving attention from absentee parents relish the idea of the government knowing their every move. On Facebook they post what they had for breakfast. They pay for everything with a card. They would probably like the idea of a chip under their skin so they can be remotely monitored and controlled. Like that Star Trek episode where you are reported if you are not "of the body" -- that's their utopia.
    This is very sad, Tomkat! It appears that the millennial generation can be fairly easily duped into supporting egregious tech like this, or the fake science behind gender identity or the fake science behind carbon based climate change ideology. The future of humanity may be on shaky ground.
    Last edited by Justplain; 18th October 2019 at 00:56.

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    Canada Avalon Member Ernie Nemeth's Avatar
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Considering that 30% of Canadians do not have credit, for various reasons usually to do with delinquent payments for utilities or car insurance (trivial payments with massive consequences), electronic money would be a disaster.

    Right now a poor person with no credit can direct thier little cash to areas of survival regardless of obligations that others deem should come first. Many of these persons must decide whether to pay the rent or eat...

    Also, working for cash and not paying taxes on their pittance is the only way the poor have to stretch the little they have. Once cash is gone these unfortunates will be between a rock and a hard place...

    Electronic money can be traced and every cent can be taxed - that is the reason for its implementation.
    Forget about it

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    Canada Avalon Member Ernie Nemeth's Avatar
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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Another thing.

    We no longer hear the true reasons or motivation of the governments of our nations. There used to be more open discussion than today.

    For instance, in the 1980s there was a lot of talk about how to curb the massive black market in Canada, driven primarily by the trades and construction, that represented a full 25% of the nation's economy. In consequent decades such talk disappeared, but the operation went on in secret. Trade unions were attacked, changes in the laws governing the trades became more constrictive, and the insurance industry was instituted into the pockets of many working people. The wages of the working man were forced into attrition primarily by importing workers from other countries in depressed regions of the world, and by the financial forces involved in the free trade fiasco.

    This last was also responsible for creating a new class of consumer who would compete for our goods and force the poor into dangerous territory - the foreign consumer, aka, the financial speculators. This combination froze wages for the most vulnerable and drove prices through the roof for life's necessities.

    This is the new world order in action. Create a massive underclass that exists to serve the ruling class and all reliant on a sprawling class of disposable workers from the ranks of the poor.

    You know...the workers who work just as hard and harder than the rest of us but receive insufficient pay to live a decent life. Just to bang this idea home, these people include: all cocoa farmers, sugar cane workers, Tim Horton's employees, seasonal fruit pickers, day laborers, car wash attendants, and a million other jobs performed by a million faceless human beings.

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    Default Re: Bank of Canada considers eliminating cash to better track individuals

    Dear Ernie Nemeth: Thank you for adding to the list of reasons the poor, marginal and elderly retirees have had their backs forced against a financial wall. It is really all a deliberate plan designed by the NWO plotters to force us into having mind controlling and death dealing chips placed in our bodies where we cannot get them out. They have succeeded in putting smart phones into the hands of DUMB people who are being progressively trained and addicted into their use, the digital financial currency will be forced on people through its access via the smart phones such as the city in China where cash is no longer used. When they have fully integrated this sham on the entire world, then they will introduce the chip in the body. It will then be a simple matter to REMOTELY MURDER THE POPULATION OF EARTH. They will give the excuse that you won't have to carry your smart phone as a source of money any more. By that time the fools dedicated to CONVENIENCE will be dying of radiation poisoning. They won't have to offer you Death by Injection or Poisonous Medicine to Cure you of Life instead of allowing you to use natural medicines which can be paid for by your medical insurance. I am about to kick my Medicare doctor in his unhelpful backside. If they can TRAIN YOUR BEHAVIOR as they are doing in China with use of FACE RECOGNITION, punishing you by not allowing you to use THEIR digital currency, thereby forcing you to starve what is wrong with people that they cannot see they are being lead to the slaughter house or the gas chambers instead of the showers by these NWO MURDERERS. It is laughable that they use the excuse that they are leaving cash to control crime. IT IS THEY WHO ARE THE CRIMINALS AND MURDERERS. YOUR MURDER IS WHAT THIS PLAN IS ALL ABOUT.

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