- Pierre Poilievre stands again CBDC and strongly supports the Bill C-400
- This bill seeks to prohibit the creation of a CBDC in Canada to protect its privacy and freedom
Pierre Poilievre, Leader of the Conservative Party of Canada, is known for his stance on the inviolability of rights and freedoms and strongly supports Bill C-400.
This bill would prohibit the possibility of creating a central bank digital currency in Canada without jeopardizing its citizens’ financial privacy and freedoms.
What Are the Conservative Party’s Arguments Against the CBDC?
The Conservative Party, represented by Pierre Poilievre, has some solid claims against the creation of the CBDC.
It’s time to put an end to creating a central bank digital currency in Canada.
The main ones are that the CBDC could give the state total control over the economic freedom and privacy of Canadian citizens, which in many ways could be equated with freedom and privacy per se.
Less government control = more freedom & privacy for Canadians.
Also, out of purely economic concerns, the Conservative Party of Canada argues that it could push the central bank to over-issue money, increasing inflation and debt.
According to Pierre Poilievre cryptocurrency is better off staying in the private sector, which will keep it financially autonomous and minimal government influence on the industry.
Conclusions
Plans to create a CBDC have quite a history, and active attempts to do so have been underway for a long time, obvious signs of which we may be seeing right now, as we wrote in a recent report.
However, even at a high level of government, there are clear and consistent opponents who are actively working to protect the private sector and, at the same time, the last hope of citizens for financial freedom and privacy.
