Warning: The Age of Digital Currency

A cautionary tale of the Canadian trucker protest on government overreach

The Story of the Frog

The tale of the frog in a pot of cold water is a metaphor for the dangers of complacency and ignorance of gradual change. In this fable, a frog is placed in a pot of cold water, which is then slowly heated. Initially finding the warmth pleasant, the frog becomes complacent, enjoying the gradual increase in temperature. However, as the water becomes hotter, the frog fails to recognize the peril it is in. Accustomed to the gradual change and unaware of the impending danger, it remains in the pot. By the time the water is boiling, it's too late for the frog to escape, and it is tragically cooked. This story serves as a cautionary reminder of the risks of ignoring gradual erosion of privacy and freedom by digital systems.

The fable of the frog is a stark warning about the slow creep to Central Bank Digital Currencies (CBDCs). At first, these digital currencies might seem convenient and beneficial, offering improved financial efficiency. However, just as the frog fails to notice the slowly increasing danger, society is not fully grasping the escalation of threats posed by CBDCs, such as privacy erosion, increased central bank control over your money, and global financial surveillance.

This simple story underscores the importance of vigilance and critical evaluation of gradual changes in our financial systems, especially those changes that might lead to irreversible consequences such as cash being outlawed.

The Transition

The transition from physical cash to digital currency is being pursued for various reasons like reducing the costs of printing and circulating physical money, combating illegal financial activities, and increasing financial inclusion. This terrifying shift from cash to exclusively Central Bank Digital Currency (CBDC) will lead to the elimination of individual freedoms and privacy. This is one of the greatest threats to individualism in the modern age married with the surveillance camera network monitored by AI, having the government know everything you do is closer than you expect. The threat to cash is real.

As more retail locations are going cashless, this unfortunately gets the world ready for when cash itself is outlawed. So, what is the problem with no cash? No one ever thought a western nation would weaponize its financial system until the Canadian government’s crack down of anyone who contributed to gas, coffee, or food to the trucker protest in Ottawa and froze their bank accounts. You have been warned!

Warning: The Trucker Crackdown

In early 2022, the Canadian government, citing public safety concerns and the need to uphold law and order, invoked the Emergencies Act so the government could “legally” break the law. The most draconian measure was freezing the bank accounts of individuals who financially supported the protests, sometimes the contribution to the protest was merely $10.

This resonated far beyond the Canadian border and sparked a global debate on governmental power, privacy, and the threatening landscape of digital currency. This incident not only raised critical questions about the limits of governmental authority in democratic societies but also served as a warning of potential issues adopting Central Bank Digital Currencies. As we all know when CBDC becomes the standard and cash is forbidden, freedom and privacy are over.

CBDCs will provide governments with real-time visibility into all financial transactions of its citizens, leading to an Orwellian scenario where all your expenditures are monitored.

The Canadian Banks Played Along

The banks complied with the “freeze account” order without a fuss and that was shameful. They froze accounts without the usual processes, like court orders or true criminal activity. This move was not only a shock to those directly affected and had their accounts frozen, but also sent ripples of grave concern across the nation and beyond. It highlighted how swiftly and decisively a government could exert control over individual financial resources, even in a democratic and supposedly free society.

Privacy and Leaks: The Broken Chain of Custody

The evidence they had leading to the freezing of people’s bank accounts was illegal in my opinion. It did not follow any chain of custody to prove the authenticity of the data.

Hackers broke into the donation website and then the hackers posted the list of people that had donated online. The government used data from hackers to bring financial ruin to its citizens. Pause to think about that; How valid was this list, did the hackers add or subtract people on the list before making it public?

The government also put pressure on the banks to reveal customers that had donated to the protest via the website. The government got the information from hackers and directly from banks without a court order demonstrates why even using a credit or debit card destroys privacy. They have access to your purchasing history in a second.

The banks were told to freeze the bank accounts of any customers found on the list. It also exposed donors to public backlash and potential harassment because the list was made public by the hackers. The incident served as a stark reminder of how digital trails, once created, are there forever.

The trucker protest incident becomes even more foreboding when viewed through the lens of a future dominated by Central Bank Digital Currencies. CBDCs, by their very nature, offer governments unprecedented visibility, oversight, and control over financial transactions.

Direct Control Over Finances

With CBDCs, a government can exercise direct control over an individual's ability to access and use their own money. The response from the trucker protest showed how quickly funds can be frozen under extraordinary circumstances; with CBDCs, this overreach could be even more streamlined, far-reaching, and immediate. The anonymity provided by cash transactions disappears. Freedom disappears.

Surveillance and Privacy Concerns

One of the most immediate concerns is the potential for increased surveillance. In a system where all transactions are digital and traceable, the government can easily monitor and control the financial activities of its citizens. Every purchase, donation, or transfer can be tracked, creating a detailed profile of your spending habits, your political affiliations, and your personal networks.

Political Implications

The power to control finances can be a potent tool for political suppression. The freezing of accounts during the trucker protests is a case in point. In a CBDC system, the government could theoretically exert pressure on political opponents, dissidents, or any group deemed a threat, by restricting their access to funds or determine what those funds can be used for in the case of programmable digital currencies.

Legal and Ethical Boundaries

The Canadian government's actions during the trucker protests blurred the lines between legal authority and draconian overreach. What control do they have over your money during the next crisis?

Global Surveillance Networks

The adoption of CBDCs by multiple countries could lead to the formation of international surveillance networks collaborating or exerting influence on a global scale.

The possibility of cross-border tracking of financial transactions could extend the reach of your government beyond their borders. Any global financial activity can be easily accessed by your home country.

CBDC Next Step: Programmable Digital Currencies

Believe it or not, CBDC is not the worst of it. The next step is to put rules around how digital currency can be transferred and spent. For example, an employer could pay your salary but put a rule that the money from them cannot be used for ammunition or another example, a government could put a rule that only a certain amount of money can be spent on fuel that generates C02. You might think this is crazy but look how far we have come. So the danger is not only invasion of privacy and freedom but the freedom to spend your money as you see fit.

Conclusion

The Canadian trucker protest and the government's response is a serious warning for the future of digital currencies and government control of your money. This draconian overreach by a western nation should serve as a wake-up call for voters and demand that financial leaders stop the adoption of CBDC.

Freedom Convoy 2022 Video by Homegrown Show with Ben and Nicole

Privacy, individual rights, and democratic freedom is more important than the efficiency of digital currencies for Big Tech and Big Government. CBDC is creating the crack in the bedrock of democratic societies which will cause them to crumble. Centralization of currency control in the hands of the government due to the simplicity of digital oversight will lead to absolute power over the economy and its citizens.

The Digital Age needs to find a way to empower its citizens to have a better life instead of using technology for control and compliance. They track our phones, where we go in our cars, and now they want to monitor where we spend our our money.

As governments morph from nanny states to authoritarian, they use the term “safe and secure” to control the mindless masses. The government thinks they know what is better for you than you do and the implementation of Central Bank Digital Currency is the best weapon they have against those that disagree with their agenda.

What can you do?

• Minimize the use of credit card and debit cards. Those points they give you are the addiction. Stop feeding them your purchasing habits. I buy gas, meat, and ammo with cash!

• Reduce your patronage of places that don’t take cash.

• Use Cash. Use Cash. Use Cash.

• Vote for those that understand freedom is more important then bureaucratic efficiency and control. Make them understand. Send them this article and see what they think.

The rise of CBDC may seem like a tsunami that cannot be stopped but its our duty to educate people in our circle of trust about the ramifications it will cause to their personal lives, this will change the tide. We really can part the waters.