CBDCs, Digital IDs, Social Credit Scores
The Conservative Party of Canada has reiterated their opposition to digital IDs after a Canadian Press story suggested the Opposition leader might support them.The issue of digital IDs has been reignited after a Canadian Press story noted the Conservatives, including leader Pierre Poilievre, support a private member’s bill (S-210) that would require age verification for internet users to access porn sites.
The Conservatives support the idea of age verification, but have not suggested how such could be effectively done, leading the Canadian Press to speculate that “Options could include the use of a digital government ID.”
Bank of Canada research says a digital currency could reduce deposits held at commercial banks, thus increasing their costs of doing business. Furthermore, a central bank digital currency (CBDC) could raise the likelihood of bank runs—a risk to financial stability—according to a monetary policy expert.
“The CBDC would directly compete with bank deposits in the market for digital money. As a consequence, there are concerns that a CBDC could substantially crowd out bank deposits, which may undermine financial stability by raising the funding cost and reducing the profitability of the banking sector,” said the BoC in a staff working paper published Feb. 8.
Any article beneath that headline should be short. Just one word in fact: no. The problem is that I keep reading articles here in the Daily Sceptic making the case for the opposite. Take this for example:
If and when there is a catastrophic failure, you will not only then be yourself robust to the consequences; you will also be able to clean up in the aftermath (assuming the result is not complete financial, and societal, collapse, in which case we’re all screwed anyway).
Remember, we are talking here about small change. Well, a digital equivalent of small change, but the means of settling small value transactions denominated in pounds. So, pound notes and penny coins. Complete financial and societal collapse. You see coins are not just coins, as another Daily Sceptic article alerted us to:
The Chinese Communist Party has reportedly linked its radical social credit score system to the state’s central bank digital currency (CBDC).
Citizens have begun raising the alarm over the situation to warn the West about the dangers of “cashless societies.”
One Chinese social media user has gone viral for detailing how his life has been turned upside down by his low social credit score.
Chinese journalist Leo Hu has a low social credit score which places him on a list of “untrustworthy people.”
Because of this low score, he faces a range of penalties that block him from enjoying a normal life.
Perhaps every government gets the spending scandal it deserves.
During the last Conservative government’s time in office, it was the G8 Legacy Fund — $50 million used to spruce up a cabinet minister’s riding, nominally for the purposes of celebrating the hosting of the G8 summit in 2010. The auditor general found that Parliament wasn’t informed and no paper trail existed to explain how the projects were selected.
The resulting controversy was big enough that even a young parliamentary secretary named Pierre Poilievre had to field questions about it.
Given that experience, one might have expected Poilievre to be more guarded in his response to the Liberal government’s ArriveCan troubles. Instead, the Conservative leader is committed to the idea that the ill-fated app — “ArriveScam,” the Conservatives call it — is indicative of a profligate and incompetent government.
“He took $60 million of your dollars and put it into this ArriveScam,” Poilievre told Canadians during a news conference on Monday. “Think of that when you see homeless people who can’t afford a place to live. Justin Trudeau took their money for this ArriveScam app.”
A short film by Kosta Nikas of Screen Light Pictures. (Source)
An unwitting man visits his family in a technocratic nightmare society, where citizens betray each other for personal gain using their smartphone. So terrible that it’s comical.
Duration: 15 mins.
Jack has just come back to his homeland of Australia after over a decade away in paradise. But after being met at the airport by his brother Frank, Jack discovers that the country has radically changed. Citizens report and fine one another for various civil infractions, using their mobile phones to record and upload offenses to a government app.
Jack is in disbelief as he arrives at Frank’s home with his wife Margaret, and he can’t even believe that swearing is fined and alcohol is banned. There are cameras everywhere, and the only safe place in people’s homes is the bathroom. Unable to adapt or accept the changes, Jack attempts to leave the country — a much harder feat to accomplish than he thought.
The controversial scheme could arrive as soon as this Summer.
The Australian government is planning a nationwide digital ID launch, which is tentatively set for this year.
While it could be delayed for logistical reasons, it’s clear that the government is fully intent on pushing a new digital ID agenda in the country.
Having first entered Parliament last year, the Digital ID Bill in Australia finished its final stage at the end of January, garnering input from business and finance groups. The country’s authorities are currently communicating with the individual states.
An announcement from the Department of Finance revealed that the novel system would empower users to select their preferred digital ID provider for the accessibility of both government and private services. Private entities can apply for accreditation to provide digital ID services under the Trusted Digital Identity Framework (TDIF), which is the government’s recognition framework.
Farmers protest climate regulations in Europe, energy bills on the rise and the ongoing threat of regulations on digital banking infrastructure — can a person find financial security in the current economy? Viewers, tune in to ‘Financial Rebellion’ for an inside look at the global monetary power structure and how to break free from the chains of centralized control. This, and more, on CHD.TV!
Bitcoin traders’ enthusiasm for cryptocurrency is fading, says in-house Canada Revenue Agency research. Pollsters blamed “media portrayals” and wild price fluctuations: “Results suggest media portrayals of cryptocurrencies have led to an erosion of consumer confidence.”
Along the coastline of the Atlantic Ocean in southwestern Cameroon lies an oil-rich peninsular called Bakassi, a territory full of history. Once controlled by Nigeria for dozens of years, the disputed area is now under the control of the Cameroonian government. Most of its residents still lack legal ID.
The dispute between Cameroon and Nigeria over Bakassi, which saw bloodshed in some border communities in the 1980s and 1990s, was eventually settled following an October 10, 2002 ruling by the International Court of Justice (ICJ).
This was followed by the subsequent signing of the Green Tree Accord i