Business
Bank of Canada scraps plan to create a ‘digital dollar’
Bank of Canada Governor Tiff Macklem
From LifeSiteNews
The central bank said it will instead look at evolving the “payment” processes in Canada.
Plans by the Bank of Canada (BOC) to implement a digital “dollar,” also known as a central bank digital currency (CBDC), have been shelved.
Officials from Canada’s central bank said that a digital currency, or electronic “loonie,” will no longer be considered after years of investigating bringing one to market.
“The Bank has undertaken significant research towards understanding the implications of a retail central bank digital currency, including exploring the implications of a digital dollar on the economy and financial system, and the technological approaches to providing a digital form of public money that is secure and accessible,” the bank said, according to the Canadian Broadcasting Corporation.
Instead of using resources to create a digital dollar, the central bank said it will instead look at evolving the “payment” processes in Canada.
Most Canadians do not want a digital dollar, as previously reported by LifeSiteNews. A public survey launched by the BOC to gauge Canadians’ taste for a digital dollar revealed that an overwhelming majority of citizens want to “leave cash alone” and not proceed with a digital iteration of the national currency.
The BOC last August admitted that the creation of a CBDC is not even necessary, as many people rely on cash to pay for things. The bank concluded that the introduction of a digital currency would only be feasible if consumers demanded its release.
The reversal comes after the BOC had already forged ahead and filed a trademark for a digital currency, LifeSiteNews previously reported.
In August, LifeSiteNews also reported that the Conservative Party is looking to gather support for a bill that would outright ban the federal government from ever creating a CBDC, and make it so that cash is kept as the preferred means of settling debts.
Conservative leader Pierre Poilievre promised that if he is elected prime minister he would stop any implementation of a “digital currency” or a compulsory “digital ID” system.
Prominent opponents of CBDCs have been strongly advocating that citizens use cash whenever possible and boycott businesses that do not accept cash payments as a means of slowing down the imposition of CBDCs.
Digital currencies have been touted as the future by some government officials, but, as LifeSiteNews has reported before, many experts warn that such technology would ultimately restrict freedom and be used as a “control tool” against citizens similar to China’s pervasive social credit system.
MxM News
Quick Hit:
The Trump administration is investigating the Biden administration’s policy of mass poultry culling in response to bird flu, which led to the slaughter of 100 million chickens and skyrocketing egg prices. Agriculture Secretary Brooke Rollins announced new efforts to lower costs and explore alternative containment strategies.
Key Details:
- Agriculture Secretary Brooke Rollins unveiled a plan to combat high egg prices, blaming Obama-era overregulation for the crisis.
- The Trump administration is reviewing whether mass culling is necessary and launching pilot programs to test alternative methods.
- Short-term relief efforts include importing eggs, though Rollins emphasized domestic solutions as the priority.
Diving Deeper:
The Trump administration is investigating the Biden administration’s handling of the bird flu crisis, specifically the decision to slaughter over 100 million chickens in an effort to contain the virus. Agriculture Secretary Brooke Rollins announced the inquiry during an appearance on America’s Newsroom, where she also introduced a new plan aimed at stabilizing egg prices.
The mass culling policy, which led to devastating losses for poultry farmers, was implemented during the Biden administration under federal guidelines that mandated widespread slaughter whenever bird flu outbreaks were detected. The move, coupled with supply chain disruptions, sent egg prices soaring in recent years. Rollins criticized the policy as part of a broader pattern of overregulation dating back to the Obama administration.
“When you go back to the long road of overregulation, it really started under President Obama,” Rollins said. “The result has been farmers struggling, higher food prices, and ultimately, policies that aren’t even proving effective.”
Rollins confirmed that the Trump administration is researching whether a shift in policy could mitigate outbreaks without resorting to mass culling. She revealed that pilot programs would be launched in select farms across the country to test alternative containment strategies.
“The avian flu spreads rapidly, and in many cases, the chickens succumb within days. But we are working with farmers who are willing to try new approaches,” she explained.
While the administration pursues long-term solutions, Rollins said they are taking immediate action by increasing egg imports to offset supply shortages. However, she emphasized that relying on foreign eggs is not a sustainable fix.
“This is about getting prices down now, but we are committed to ensuring America’s farmers are in the best position to supply our own food,” Rollins stated.
The Trump administration’s investigation into the Biden-era policies could lead to a shift in how the U.S. handles future avian flu outbreaks. With food prices remaining a top concern for American families, the administration is making it clear that restoring affordability and protecting farmers is a top priority.
From LifeSiteNews
Trump said in his first cabinet meeting that his administration will soon begin placing tariffs on products from the countries of the EU, accusing the European Union of cheating the US.
President Donald Trump blasted the European Union during the first cabinet meeting of his new administration, saying that “The European Union was formed in order to screw the United States. That’s the purpose of it.”
“I love the countries of Europe,” Trump began, “but the European Union was formed to screw the United States.”
“Let’s be honest. The European Union was formed in order to screw the United States,” he reemphasized. “That’s the purpose of it.”
“And they’ve done a good job of it,” he said, before warning: “But now I’m president.”
Trump said that his administration will soon begin placing tariffs on the products of the countries of the EU.
Asked if he expected the EU to retaliate if the U.S. imposes stiff tariffs, Trump said: “They can’t. I mean they can try, but they can’t.”
“We are the pot of gold,” he explained. “We’re the one that everybody wants, and they can retaliate, but it cannot be a successful retaliation, because we just go cold turkey, we don’t buy any more, and if that happens, we win.”
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