Bank of Canada to create its own digital currency as 'contingency,' deputy says

In a speech in Montreal, deputy governor Timothy Lane said there isn't a compelling case to issue a central bank-backed digital currency right now.

He added the bank could issue its own cryptocurrency if private digital currencies or those offered by other central banks become widely used in Canada and erode the Bank of Canada's ability to manage monetary policy. "This includes readying ourselves in case a decision is made some day to issue a Bank of Canada digital currency."

"It would become increasingly difficult to control the stability of the purchasing power of the Canadian dollar," Lane said in a question-and-answer session following the speech.

I like my 'paper money'

I hear the train a comin, it's rollin round the bend, it's got our UniversalBasicIncome that (((they))) want us to spend. CitizensDividend WealthTax FuckyouPayMe

I have been speaking to my family for several years now regarding this ideology. Inch by inch it was implemented but more obvious now.All is in the bible. God help us.

Facebook was refused the license for libra.

The sophisticated hackers backed by rogue governments are going to have a field day. Economic collapse is inevitable, inflation uncontrolled. Glade I most likely won’t be around when it happens in a decade or so.

MikeMcDonald89

Soon they will announce they are phasing our cash. Then Trudeau’s China inspired social credit score comes online and boom. Mark of the beast

Allow me to translate. “The Canadian economy is dead and the Canadian peso is back on the menu.”

What could go wrong?

Hey BOC, how's are gold reserves looking?

Bit-loonie How appropriate!!

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