Liberals’ 2022 Budget Contains Allotment For Chinese Style Central Bank Digital Currency (CBDC)

Written By Neil McKenzie-Sutter, Posted on April 9, 2022

It’s squirreled away in a corner of the 2022 Budget for the Canadian government, chapter 9 section 2 features this selection: 

‘Budget 2022 announces the government’s intention to launch a financial sector legislative review focused on the digitalization of money and maintaining financial sector stability and security. The first phase of the review will be directed at digital currencies, including cryptocurrencies and stablecoins.

Budget 2022 also proposes $17.7 million over five years, starting in 2022-23, to the Department of Finance to lead the review.

The review will examine, among other factors: how to adapt the financial sector regulatory framework and toolbox to manage new digitalization risks; how to maintain the security and stability of the financial system in light of these evolving business models and technological capabilities; and the potential need for a central bank digital currency in Canada.’

While revelation isn’t necessarily considering it was announced earlier this year that the Central Bank of Canada would be conducting CBDC research with MIT

For those of you who don’t know, this announcement isn’t positive for Canadian citizens or the Canadian economy. 

The CBDC acronym stands for Central Bank Digital Currency, and it operates exactly how the name sounds, it would be a digital currency completely controlled by the Bank of Canada, and on most levels, the concept is a copy of the Chinese Digital Yuan, which was rolled out last year

Due to the totally controlled nature of CBDCs, it was first pointed out by commentators in the Bitcoiner community that these currencies are like purpose-built to be human rights violation machines, and so we as Canadians should really push back against the rollout of this ‘currency,’ almost at all costs. 

On top of that, the current Trudeau Liberal government absolutely should not be given a tool to control your bank account with the click of a button, considering their recent and repulsive decision to freeze and seize Freedom Convoy protestors’ bank accounts.

For what it’s worth, no matter what the Trudeau Liberals and Bank of Canada say, there is no real market need or desire for a CBDC, really anywhere.

Bitcoin is a fully functioning decentralized currency that is ready for use today, and as with U.S. stablecoins, the world of private enterprise has proven capable of filling a demand for U.S. digital currencies. In the forms of the DAI and UST stablecoins, it’s also possible to create functional decentralized stablecoins. 

In case you were unaware, stablecoins are simply a program made to constantly price-match the U.S. dollar, and potentially a decentralized stablecoin could be created to price-match the Canadian dollar in the same manner.

Given this reality, what purpose or need is there ever for a Bank of Canada-controlled digital currency? There’s absolutely no need for these CBDC products, and so they should be called out for what they are right away: another ugly, power grab by a greedy, authoritarian. 

The other problem is that CBDCs would likely be linked to a social credit system or ESG score to coerce people into “ethical” decision-making with their money. The problem is that Central banks, governments, and international NGOs would be the arbiters of morality here. Likely you would be punished for buying meat, gas-powered cars, donating to conservative causes, and a whole host of other things those at Davos would object to. 

In the final analysis: the Bank of Canada CBDC research program needs to be stopped immediately or else Canada will be literally following down the same path as the Chinese government.

Neil McKenzie-Sutter

14 responses to “Liberals’ 2022 Budget Contains Allotment For Chinese Style Central Bank Digital Currency (CBDC)”

  1. Cindy says:

    Problem with this is, not enough Canadians care to educate themselves on this issue and will ever take a stand against it.

  2. Lisa Grasley says:

    Not good and Canadians need a say !!
    No paper boy money
    No babysitter extra cash
    Freeze your money … steal it



  3. Michel says:

    I will pray and fight to the death to oppose this tyrannical federal government

  4. S. Rosenkrands says:

    The Liberals have in the very short time they have governed, have squandered billions, buried scandals, are trying to end democracy, and have succeeded in dividing this country. They have been trying to find out how much Canadians have in their bank accounts, and if we make or have life savings over their ideas of a certain limit, we will probably lose some benefits even though working a lifetime of contributing to those said benefits. Their idea of fairness is if you make slightly over the level in which one receives the GIS that you have to pay for many of the programs that others get for free. I have been watching Russian and Chinese people being interviewed, very scary, as this government wants complete dominance over the Canadian population, with our speech, money and movement.
    Too bad they have been given a few years more in power, as a great deal more damage will be done.

    S. Rosenkrands

  5. Adrian Maclean says:

    This liberal administration is out to ruin our country and destroy all the freedoms our forefathers fought and sacrificed for . As the Freedom Convoy showed , the majority of Canadians sided with the truckers and were horrified with the brutality of Trudeau and his thugs , the Ottawa Police , the RCMP trample Cavalry of 1000 pound horses and UN mercenaries ( heavily armed and ready to kill ) . Despicable , yes . Disgusting , yes . Acceptable , NO ! TRUDEAU MUST GO . Make it happen , Canada . This country belongs to all Canadians and is not the fiefdom of Trudeau and his phoney cronies .

  6. Helen says:

    Time to take back our country …. Good people need to take the power back …. WE THÉ PEOPLE hold the power , we need to stand UNITED in non-compliance and rally our MP s with this information and a clear message from THE PEOPLE , that we say NO!

    • Peace officer Church says:

      I say along with you, but many other people must be able stand up and stand against this in a good matter of course. And wake up for All Canadians to stand against digtial currency, There is a video
      On Trudeau’s visit to China that is on the internet, how he idolize the Chinese government dictatorship
      And able to like China’s digital currency. As a U.S. citizen for all the Canadian people please please
      Stand up for your freedom against this politcal party and help the conservatives are against this measure
      When the liberty of freedom is silence it is when the oppersition will take and oppress your way of life
      And take it all the way take from who had fought died bled for freedom to have all Canadians to be free from tyranny and communism. Take a stand

  7. Valerie says:

    Trudeau said earlier that this would be a good way to hunt down the unvaxxed.

  8. Monica Kemp says:

    The only way I can see out of this since they have every one of our avenues of action shut down tight in a straight- jacket, is help from "above"… 🙏🏿🙏🏼🙏🏽

  9. Peace officer Church says:

    Valerie: Do not say that like that a nazi German officer hunting Jews down
    Bad as Trudeau is that was not said Fact Check-Canadian Prime Minister did not publish message encouraging the social rejection of unvaccinated people
    By Reuters Fact Check
    Reuters review of Trudeau’s Facebook account (here) revealed no such post. Other official social media accounts (here) and ( for Trudeau also showed no evidence of posts encouraging the ostracism of unvaccinated individuals.

    In an email response to a Reuters inquiry regarding the authenticity of the Facebook post, representatives for the Office of Prime Minister Justin Trudeau said: “this is not our post.”

    • Tina says:

      Sorry man but your Reuters and other fact checkers are getting paid by msm. Don’t believe your fact checkers. I was personally at an event that they fact checked and lied numbers. who was there, what was going on. Picture taken by people I personally know, people I witnessed myself standing in places that your fact checkers denied and created a secondary narrative. It’s everywhere dude.

  10. JoeC says:

    I see many of these statements, and research and agree with most, however there is common grounds with all these statements in which they note that intervention on the people’s part is needed to stop them. This is a trend, however just presenting the problem and outlook and not providing any guidance on how to combat these items is a complete waste of time posting the issue. If people want to do their part YOU (as a poster) NEED to preset possible suggestions on how the people can proceed.

  11. Dave Ritchie says:

    company store script in in a coal mining town pales compared to what is coming ~