The Bank of Canada has officially announced it is developing a Central Bank Digital Currency (CBDC) and is now asking Canadians to participate in an open consultation process. Make no mistake about it, this would be the final nail in the coffin of financial freedom in Canada. Instead of having your money controlled by private banks like they are now, a CBDC would be held in a government-approved digital wallet.
This follows a global trend towards a digital authoritarian future where governments have ultimate control over the spending power of citizens. Pair this with the ever-expanding powers of a digital id program and Canada is one step closer to adopting a Chinese-style social credit system.
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