Pierre Poilievre Commits To Banning Central Bank Digital Currency (CBDC) in Canada

The National Telegraph over the last few weeks has been pushing hard on the issue of Central Bank Digital Currency (CBDC) in Canada and asking various Conservative Party leadership campaigns about their position on the issue.

We had spoken to Carlton MP Pierre Poilievre and his campaign team several times about the issue and did get confirmation from Poilievre himself that he was against CBDCs and thinking of ways to best place a ban on them at a campaign stop in Calgary. 

Now in further development on Poilievre’s position on CBDCs, this morning he publicly stated in a press release and on social media post that he will be seeking to both audit the printing of currency by the Bank of Canada as well as outright ban the Central Bank implementing a CBDC. 

In his campaign press release Poilievre was quoted saying:

Money-printing deficits have sent more dollars bidding up the price of goods. Inflationary taxes have made it more expensive for businesses to produce those goods. The more Liberals spend, the more things cost. That is JustinFlation. I will end it, by restoring central bank independence, mandating an independent audit of all the money printing, and stopping the risky Central Bank Digital Currency.

His campaign further stated that:

A Pierre Poilievre government will keep the Bank of Canada out of retail banking by banning its proposed Central Bank Digital Currency. The Bank of Canada indicates it is in the “development phase” of its own digital currency and that the final decision will rest with the Minister of Finance.

It is a major step forward to have the front-running Conservative Party leadership candidate not only telling individual journalists that he is against CBDCs but publicly calling for them to be banned.

Central Bank Digital Currency in Canada should be a no-brainer of an issue for Conservatives to run against, as it will be hard for Prime Minister Justin Trudeau to justify why the government needs the ability to track and control the way Canadians spend their money. 

Pierre Poilievre coming out strongly against CBDCs should signal to other Conservatives that this is a major issue they also need to sound off on. In the coming weeks, hopefully, more Conservative leadership candidates will come out and unify against CBDCs and help unify the pary in Parliament against a Liberal Central Bank power grab.