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As the Bank of Canada prepares for a digital Canadian dollar, democratic concerns loom large
(theconversation.com)
this post was submitted on 25 Jun 2023
37 points (97.4% liked)
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Really...? Your stated approach didn't work for some people who simply donated to the freedom convoy did it? Do you know why your approach won't work, because the mainstream media does what the Liberals want. The refusal to give back the power to freeze your bank account which they unjustly took for themselves during the "Emergency" Measures demonstrates a willingness to use peoples money to quell dissent, this CBDC push is just the next logical step. Your hoarding cash argument is an utter fallacy since any amount of cash being hoarded is minuscule compared to the amount being electronically hoarded in offshore accounts by the rich and corporations in tax havens not to mention the tax loopholes. And it is becoming increasingly like China here. I can only hope that if this CBDC comes into play that you and everyone else supporting this get caught up in it and have your cash frozen so that you cannot pay your bills or feed yourselves simply for saying something the government didn't like.
now you have the upper gov level to inquiry, file law suit or Freedom of Information request. Just find out who give the order to cut you off from financial system. make some news and see the distrust destroying their control over night/week. Whoever push to cut you off to make you example off will deal more damage to the entire economical system than damage to you. Itโs not China here.
So I guess you basically defeat your own argument in the first paragraph. Digital money transaction are traceable, up to the point it left that currency system, say bitcoin to USD, and then someone else withdraw that USD as cash, after it become cash then you just know who has it last. All the off shore tricks are using "legal" method to transfer large amount of money or offset the cost to make their balance sheet look like they don't need to pay more tax. They don't ship aircraft full of cash to anywhere. This is why they want to form the tax treaty alliance so every government gets their fair share of tax cuts.
Do you know how hard it is to freeze someone's accounts so they can't function normally? Even the Fed, CRA can't really do that without court due process. You said no one hoard cash in any significant amount, it's only in first world where bank system is very trusted and reliable from abuse, that's why. If you check any in other 3rd world country with flaky government or authoritarian, they hoard cash in USD etc. The moment any government official touches any "dissidents" account without proper process you are asking for trouble for people to lose trust in that whole bank system. They have to announce it ahead of time, pass the act, run the whole deal to then freeze about 200 accounts. (from CBC article.)
And lastly, as with online misinformation campaign, despite a joke on our "very tolerant" gov that ignores proper protest process, those are not normal protests, and if it's allowed to run protest without check, then you are asking foreign influence to just throw money on you until you bent. Or like running some social test on how effective to use money to influence political decision through non-official channel. Can the gov do no wrong, nope, I don't think so. But at least in the west, they are treading a lot more carefully even with the power they have at hand. Similar to bank system, they can only wield it to not break majority trust, and politicians like their power like addicts like their drugs.