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Opinion: Canada’s Emergencies Act underscores the dangers of a cashless society - Stone - 02-20-2022
Opinion - emphasis mine...
Canada’s Emergencies Act underscores the dangers of a cashless society
What we are witnessing is the next move in a worldwide battle over the future of money and who gets to control it.
![[Image: shutterstock_1854011137-810x500-810x500.jpg]](https://www.lifesitenews.com/wp-content/uploads/2021/06/shutterstock_1854011137-810x500-810x500.jpg)
Thu Feb 17, 2022
OTTAWA (LifeSiteNews) — The extraordinarily aggressive financial measures by Canadian Prime Minister Justin Trudeau and finance minister Chrystia Freeland have underlined the dangers of a cashless society. They have demonstrated that any form of digital money can be abused by tyrannical overlords. The best way to get funds to the truckers without being attacked by authorities remains the old-fashioned one: physical notes.
What Freeland has outlined is an unprecedented incursion into financial activity that is designed to lock the people whom the government deems to be undesirable out of the system entirely. The measures “cover all forms of transactions, including digital assets such as cryptocurrencies,” the minister stated. The government, she said, is “following the money,” which includes freezing corporate accounts and suspending insurance on vehicles. Personal financial accounts are to be included in the order.
It confirms what many have been warning about for some time: that one of the core elements of the so-called Great Reset is to enslave populations by surveilling and controlling their transactions. China has already implemented its version of digital tyranny with its Social Credit System, which it will combine with its Central Bank Digital Currency [CBDC]. Now Trudeau and Freeland have drawn back the curtain in Canada to reveal their version of digital despotism.
There have been previous hints that this is part of the Great Reset end game. The general manager of the Bank for International Settlements, Augustin Carstens, said last year: “We don’t know who’s using a $100 bill today, and we don’t know who’s using a 1,000 peso bill today. The key difference with the CBDC is the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability, and also we will have the technology to enforce that.”
What we are witnessing is the next move in a worldwide battle over the future of money and who gets to control it. The debt-based money system – most of the money in Western democracies is created by bank loans with an interest rate – is close to collapse. Global debt is at unsustainable levels; hence the low interest rates to stave off a crisis. Central banks are looking at ways of printing interest free money, known as Quantitative Easing, and also creating Central Bank Digital Currencies. But these are only palliative measures; they do not address the structural problems.
Meanwhile, there has been heavy investment in cryptocurrencies as a means of escaping what is called the corrupt “fiat” system: money determined by government dictate. While the underlying analysis of governmental failing is reasonable, there are some obvious flaws in the argument. For one thing, Bitcoin and other cryptocurrencies are valued in dollars, which is fiat currency. In that sense, it is not an escape at all.
Secondly, they are not currencies; they are digital assets. Large financial institutions are now investing in them to diversify their allocations. In a currency the value of each unit should stay roughly the same; cryptocurrencies are extremely volatile. They also cannot handle the volume of daily transactions.
Freeland’s move has revealed another vulnerability with cryptocurrencies. They are digital, which means they can be monitored and their use attacked. Already 42 countries, including China, have banned or impeded the use of digital currencies by putting restrictions on the ability of banks to deal with them. The Canadian government has gone a step further by threatening to freeze bank accounts if there is even a suspicion that cryptocurrency is being used to support the truckers.
This leaves cash as the only way to escape the bad actors in government. Financial analyst Catherine Austin Fitts, who urges people to use only cash every Friday, argues persuasively that humanity is at a “tipping point between freedom and fascism”. But for authorities to gain full control over the digital monetary system, the circulation of paper currency has to end.
At the moment, fortunately, the use of cash is going in the opposite direction. There were some ridiculous attempts during the pandemic to claim it should be banned because it was allegedly more likely to carry the virus, but in the end cash use in many countries and regions went up – including in Canada. That trend needs to continue.
We live in an era of hyper-transactionalism whereby far more of our daily activities than ever before are subject to monetary exchanges. Most of us are now bound to the globalised monetary system. How it evolves is not just a technical matter; it is about how ultimate power will be exerted.
To stop control being exclusively in the hands of political and bureaucratic overlords, the best way out is to use cash. If the Canadian truckers get support in the form of paper currency, the despots can do nothing about it.