Experts warn that the global push for a centralized digital currency, while touted as convenient, could lead to authoritarian control. The Bank of Canada (BoC) earlier paused its research on central bank digital currencies (CBDC), citing a lack of public interest.

“Whether and when a digital dollar will become needed is uncertain,” the BoC said on November 29, 2023. “Ultimately the decision to go ahead with a digital dollar belongs to Canadians through their representatives in Parliament.”

However, the Justice Centre for Constitutional Freedoms says that a CBDC is likely, especially with Mark Carney's quick rise to Liberal party leader, as first reported by the Western Standard.

The former BoC governor advocated for policies championed by the World Economic Forum, including digital currencies and “net-zero” economies. Carney is deeply embedded in these globalist 'think tanks,' having served as a WEF Agenda Coordinator, and on boards for elite corporations, before running to replace Justin Trudeau as Liberal leader and prime minister despite never being elected by the Canadian electorate. 

Though the WEF touts the convenience and “inclusivity” of centralized digital currencies, the Justice Centre warns of significant concerns.

“In a cashless economy, all transactions are digital, and therefore traceable and subject to inescapable financial surveillance and government interference,” warned the Justice Centre report Central Bank Digital Currency, pointing to the 2022 Freedom Convoy as an example. 

The federal government froze $7.8 million in assets belonging to suspected convoy supporters from 267 bank and credit union accounts and 170 bitcoin wallets, through the Emergencies Act. 

“A crucial lesson emerged: Canadians should always have access to cash,” writes Benjamin Klassen, lead author of the report, and education programs coordinator for the Justice Centre.

The report expresses concern that the programmability of a CBDC could enable governments to institute “built-in rules and constraints for users,” thereby dictating how taxpayers lead their lives through surveillance and “tracking features”.

A November 2023 central bank survey revealed that a significant majority (79%) of Canadians were against the implementation of a CBDC, owing to a lack of trust in the central bank’s ability to protect privacy rights. 

“A CBDC could threaten Canadians’ privacy, security, autonomy, financial independence and their access to economic participation,” warned the Justice Centre. “It could usher in a cashless economy, thereby removing access to the intangible but important benefits cash provides,” it said.

The BoC clarified, however, that it would not phase out cash under any circumstances. “Cash isn’t going anywhere,” it said, given that “people still carry some cash, presumably as a precaution.” The typical Canadian carries $70 in their wallet, mainly $5 and $10 bills.

A prior BoC survey mentioned privacy concerns, but did not address the potential for government officials to control how taxpayers spend their earnings.

“CBDCs could be programmed to make it impossible to purchase whatever the programmers choose—from airplane tickets to clothing or medicine—or even erase the digital money from people’s e-wallets with the push of a button,” said Digital Currency.

“Similarly, CBDCs could be programmed to support ‘green’ agendas by limiting what foods or how much gasoline a person could purchase; or promote healthy living by restricting the purchase of junk food and sweetened beverages.”

Carney could theoretically introduce CBDCs using emergency powers, as previously said, to counter the ongoing trade war with the United States and implement his ‘green’ agenda.

As reported by Blacklock’s, Canada’s central bank filed for stake ownership of any “digital dollar” launched in Canada under the Trademarks Act, though further development is reportedly on pause. It has studied digital currencies since 2014.

Bo Li, former deputy governor of the People’s Bank of China, suggested in 2022 that digital ID could be used to control welfare payments, consumption and purchases.

“Once citizens have become accustomed to a CBDC, governments could introduce authoritarian programmable features under the guise of any plausible justification, such as increasing convenience or preventing crime,” warned the Justice Centre.

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