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Pierre Poilievre wants to ban central bank digital currency

Thomas Lambert

April 28, 2022

Conservative leadership candidate Pierre Poilievre has added banning Trudeau’s central bank digital currency to his agenda after being elected Prime Minister.

However, according to a news release on Poilievre’s website, his position has less to do with preventing a social credit score in Canada and more with protecting the central bank’s “independence” and preventing mass money printing.

 “Justin Trudeau has threatened the Bank of Canada’s independence with a half-trillion dollars of deficits that required the central bank to print money and cause inflation,” said Poilievre.

“Money-printing deficits have sent more dollars bidding up the price of goods. Inflationary taxes have made it more expensive for businesses to produce those goods. The more Liberals spend, the more things cost. That is JustinFlation. I will end it by restoring central bank independence, mandating an independent audit of all the money printing, and stopping the risky Central Bank Digital Currency.”

Poilievre continues, saying that the Auditor General needs to investigate Trudeau’s mass printing of $400 billion throughout the pandemic, which has led to inflation being “triple the Bank’s 2 per cent target.”

As previously reported by The Counter Signal, Trudeau snuck the possibility for a central bank digital currency into the recent 2022 budget.

Indeed, in Chapter 9.1 (conveniently the last chapter) of the budget, the Liberals outlined their plan to give the Finance Department $17.7 million to conduct a comprehensive review of Canada’s financial sector, including how to crack down on cryptocurrency and potentially establishing a “central bank digital currency in Canada.”

While a central bank digital currency would, as Poilievre alleges, allow the government to print money more easily (they wouldn’t actually print anything), they would also allow for the establishment of a social credit score.

This is the means of implementation in China, where citizens have their access to bank accounts limited or prevented whenever they get out of line.

Regardless of his reasons, Poilievre’s policy position is good news for freedom lovers in the country.

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