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Central digital bank currency may be sooner than you think. Cash is no longer king and a few places in Newmarket has already abandoned the traditional values of cash to become cashless.
We are about to abandon the traditional money for a new blockchain digital currency.
Just part of the transition for a near perfect record of every transaction.
https://youtu.be/lTJPO05l91k
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I sure they will still retain some cash or credit card options for us who have no use for cell phones.
You don't stop hunting because you grow old. You grow old because you stop hunting.
- Gun Nut
They will try to it's why it's called cashless and promoting to use even less while promoting businesses to eliminate it.
Will they give us better deal since it's way more cost effective or will it benefit the providers? They want better analysis of data they will have every transaction at the tip of their fingers. That could be good or bad lol. We already know government has tracked us what's stopping them using this data against us.
The bank of Canada said it would be through your phone ,card or other devices maybe the palm of your hand implant if you choose. When the companies switch over after a while it's all they will expect making us take the transition.
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Anyone fill out the consultation?
Like said it was pretty predictable what they were asking. They had a question for the previous answer lol. They wanted to know if you trusted the systems.
Key point it would work offline.
They wanted to know how important that would be .
I think if they can make that work offline then they could also make your debit cards work offline.
It would be linked to your identity.
so for the ones shocked about the uk linking their identity to it is no shocker.
And cash would be still used until the people wean off it .
So that said .
They are already driving the cashless society.
No cash no Canada paper currency excepted. Only plastic cards or digital devices.
Examples are .
Rbc echo Beach cashless
American express budwiser stage cashless
Bmo fields cashless
Roger's center cashless they have an atm to a plastic visa not cash.
Wonderland cashless.
What about service Canada?
Look who deals with millions of people who do not even excepting your Canadian paper cash.
Sorry no cash aloud by the partners who drive the new era .
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Some RBC bank branches already started conversion to cashless
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So the question arises who is driving the cashless system and if they go away with cash is that because the of public interest or their partners within? Seems like the ones driving the agenda are driving the change and they arr all working together.Quote:
Originally Posted by newbiehunter
I want the ability to go to an event in a city and have the choice to use our Canadian currency or plastic. As a Canadian I don't get a say when they take that opportunity away from me or the rest of Canadians.
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The increasing use of digital payments is being driven by retailers, consumers, credit card companies and banks all of whom find non-cash payments more convenient and secure. For example, it's a lot easier for entertainment venues to accept only cards because it means they don't have to collect and account for physical cash after the event is over and they are less vulnerable to theft or employee fraud.
Some of the more conspiratorially minded might distrust digital payments but cash withdrawals and payments are under very tight scrutiny. Withdrawing or depositing over $10,000 in cash triggers a FINTRAC report and expect to be questioned by bank employees if you make a large withdrawal as they may suspect you are being scammed or engaged in illegal activity.
I still carry some cash but rarely use it. The card is more convenient and digital money transfers are significantly easier than writing and mailing a cheque.
Can't go to the dump anymore and pay by cash, debit or credit card only.. What happens to the guys you dealt with that said pay by cash and save 5 %. Retailers will take a hit having to pay a percentage on each and every transaction.
Well dealing with Green P parking for 3 weeks now. Problem you can't prepay your parking at the ramp at Ashbridges Bay(suspect the same at Humber and Bluffers). Sure you can get on your phone at 9:00am and pay on the app but a dinosaur like me with no phone or card is out of luck. Hopefully I can encourage them to switch back to prepay like in previous years.
With a cbdc governments could block your purchasing power on less desirable items such as " "ammunition, drugs and pornography"" ,.
They could also put a expire date it's already being done so we can't say that won't happen. Forced to spend not save .
https://www.infowars.com/posts/wef-d...as-ammunition/
That's what we need a government controlled currency lol.
Again thier words funny how this group is so involved.
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Sibalds did that this spring well sometime in the winter. Took their pay machine away and was forced to pay online for a parking permit.Quote:
Originally Posted by finsfurfeathers
Yep my wife got it for me . Me I would take the fines if nobody or nothing is there to pay or take my money for parking. Some did park without paying or a ticket . Since I don't have credit card and don't pay online I'm crap out of luck I guess. They took my payment methods away. In a way that shouldn't be my problem.
Now you are to pay first online then print out a pass for your window for winter parking.
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cash is an element of freedom
Then you see they are all part of the same organization that's behind the drive of a cashless society. Could just be another coincidence that they all hold the same views while pushing their programs and agendas
The banks, the central banks, the businesses and governments all of them so the say.
The cbdc will be a new currency connected to your identity different from your regular convenient bank card.
We already pay less with cash and use more tap tap for convenience, pay online and pay the bills online. So why a new digital currency . ?
Was reading a pole the other day and it said the majority of Canadians would switch to the digital currency.
Crazy if you ask me.
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Well they don't want that lol. They want compliance and control. With this new system they will know where everything is going at any time. They already said it would creat a "near perfect transaction record" at the government summit last year.Quote:
Originally Posted by 73hunter
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Shall I say anything more didn't I mentioned tokenization? Don't say the warnings never came even real estate is going through tokens and a fractional method. Only 58 tokens for a house . Maybe your car is only worth 0.16% of a token.
A big meeting coming up for the un ,the latest g20 also pushed for the digital framework. That includes the digital identification.
https://www.citigroup.com/global/new...tional-clients
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Sorry about the late response just seen it. This spring when I was up there for whitefish didn't notice the lack of pay machines as I just used the cash option. Put it in the envelope and slipped it into the box, receipt portion goes on the dash.Quote:
Originally Posted by fishfood
It was ripped out for the last portion of last ice . Good to know it was back and working ,haven't even been back there since March.Quote:
Originally Posted by finsfurfeathers
Thinking it might be worth getting a winter season pass ,I'll probably go that route .
Looks like a new lot is getting ready to open in vb they have post in for an arm gate. Maybe a pay by the day who knows.
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Banks looooove service fees. Of course they would push cashless. Service fee on a rewards credit card, service fee for using debit, service fee (%) on any credit card, service fee for the debit machine per purchase and monthly. In many cases the bank provides the debit machine as well. They are making a killing!!!!
$$$$$$$$
And they smart enough to insinuate that if your doing cash your doing something shady. Nope, they just want more profit.
Those services fees are what's going drive the cashless plan. With a cbdc it cuts the middle man saving us money that's how we will adapt to it. It will save you money with transfer fees that I believe will be the drive and get the people to use it.Quote:
Originally Posted by one shot scott
As for banks many will close and or be bought out by a select few. We see it happening.
It's expected that almost half the American banks will be gone on the coming years. Just look at australia they are further ahead and expected to be cashless within the next 3 to 7 years. They put in cash restrictions and will no longer print the 100 dollar bill next year and will stop making a 50 the year after. Also over a thousand bankers gone in Australia as branches close.
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Well the uae has made it first transaction paying china with its own digital currency
https://finance.yahoo.com/news/uae-c...C%20to%20China.
Indias goals were for 1 million dollars a day to be through its digital program.
https://www.reuters.com/business/fin...es-2024-01-04/
Some information about the cbdcs around the world.
130 countries are exploring a cbdc that's 98% of the world's gdp.
64 country are in advance stages of launching a cbdc
19 of the 20 g20 member states are in advance stages.
https://www.atlanticcouncil.org/cbdctracker/
Russia China and many other countries have already it in use.
It's the banks of Canada who claims it's up to the government but they have already pumped 100s millions into the programs. The bank of Canada is also owned by the government meaning our government is 100% behind this.
Yet talking about seems scarce as it's been long tossed into the conspiracy theories. Even our media is largely ignoring it. We don't want to talk about yet it's happening anyways. Time to pipe up and get involved into the conversation before its just shoved in our face.
Talking about the elephant in the room is OK its just an elephant and its just a conversation.
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The bis to tokenize customer assets
Not sure why the people are not more informed to what's going on. Nor did the people of countries vote to bring in a new digital currency.
This is big news when they plan on switching the entire currency system.
A run down of the banks tokenization plan.
https://youtu.be/30nBzhXORwA?si=rdEXoDhh8RMbA80C
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It should be important to discuss the future changes like adults. Programmable money?
Do You welcome it? Any concerns , what about tokenizing your assets? It's skips the middle men saving you very little but even more savings for the big guys who buy up complete neighborhoods lol. When it gets implemented should we put in cash restrictions to push the new currency?
The g7 ministers are committed and committed to helping developing countries introduce a digital currency.
No delusions Badenoch just government documents. Part 14 and 15. Who cares what others say online, what's important is following our government's actions and plans.
https://www.canada.ca/en/department-...ommunique.html
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Open banking is it a coincidence that Russia and China are already using the system.
A coincidence that the developing countries are bringing in the policy we choose to stand against.
It's a coincidence that the fastest growing payment system is digital.
It's a conspiracy that it's a global governance.
It's a coincidence that they are using a crisis to get your biometrics and change the system. It's for your safety.
It's just a coincidence the geopolitical ties are shifting.
It's a coincidence that the brics summit highlights sounded like like the 2030 agenda.
It's a coincidence our g20 president sits on the brics bloc along side Russia and China.
It's a coincidence that India will side with China.
And it's a coincidence that my pension will help pave the way. It's better to invest over their instead on here. It's just a coincidence my cpp is building the developing countries into what they want done.
It's not a coincidence why I feel the way I do towards them.
They will bring it in what ever they want. They have the power to do so they have the influence and money.
It's a coincidence that the top leading companies and thousands of politicians and influencer's all have the same goals they all work on the same goals and they will try their darnedest to make that happen. We see how the media runs we see what they are doing and did to trump well they are doing that with just about everything.
Just because the developed world isn't on board don't mean it ain't happening.
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