Canada

Justin Trudeau's Crackdown Will Make Bitcoin and Cash More Popular

There’s no freedom if the state can separate us from our money.

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By invoking emergency powers and freezing the assets of Freedom Convoy protesters, Canadian Prime Minister Justin Trudeau makes clear that civil liberties protections mean little when the government can deny you access to your money. That financial weapon has been used in the past not just in autocracies but also in democracies against controversial (to some) businesses and organizations. But by targeting political protesters in a supposedly free country, Canada's government reminds us of the importance of keeping at least some resources beyond the reach of the state.

"This is about following the money," Canada's Deputy Prime Minister Chrystia Freeland threatened on February 14. "This is about stopping the financing of these illegal blockades. We are today serving notice: if your truck is being used in these protests, your corporate accounts will be frozen. The insurance on your vehicle will be suspended." The Canadian government promptly seized assets.

Justice Minister David Lametti added that donors to funds supporting the Freedom Convoy are also targets. The government subsequently backpedaled, but donors have been doxxed and threatened (Americans are likely beyond the reach of all but finger-wagging). Under the Emergencies Act, the Canadian government inflicts financial punishment on its critics without due process.

"It's a Western version of China's social credit system that does not altogether prohibit political dissent but makes it so costly that it becomes impractical to the ordinary citizen," David Sacks, former PayPal COO, writes of Canada's financial measures against protesters. Earlier, Sacks warned that we should expect a wave of firms denying services to those who don't share their ideology. "What I could not have anticipated is that it would occur first in our mild-mannered neighbor to the north, with the Canadian government itself directing the reprisals," he marveled.

Actually, this isn't the first example of governments conscripting private companies against targets that otherwise enjoy legal protection. Credit card companies have been pressured into denying services to suspected sex workers, and the U.S. federal government's Operation Choke Point cut off gun dealers, payday lenders, and sex-oriented businesses from banking without the muss or fuss of proving any illegality.

"The clandestine Operation Choke Point had more in common with a purge of ideological foes than a regulatory enforcement action," Frank Keating, former governor of Oklahoma and previously an FBI agent and U.S. Attorney, wrote in 2018. "It targeted wide swaths of businesses with little regard for whether legal businesses were swept up and harmed."

Since then, New York officials strong-armed insurance companies and banks into shunning the NRA. Cannabis businesses have difficulty opening bank accounts over regulatory fears. And independent ATMs are becoming scarce because the government hates that they dispense cash to just anybody. "A bank that does business with unscrupulous ATM owners could face the wrath of regulators for violating anti-money-laundering rules," The Wall Street Journal reported this week.

But targeting remarkably peaceful political protesters because they annoy officials in an ostensibly liberal democracy is a new step in the direction of a financial police state. And a financial police state is an effective means for officialdom to muzzle opposition without breaking a sweat.

"Without economic freedom you cannot have political freedom," writes economist John H. Cochrane of the Hoover Institution about the fiasco in Canada. "If the government can monitor your transactions, freeze your assets, 'sanction' you, or freeze your ability to transact, to buy or sell anything, it can quickly silence you, stop your political participation, undermine political movements or even aspiring individual politicians."

Understandably, financial assets that aren't so subject to government whim have become more attractive. Many Canadians reportedly withdrew cash from banks, either because they feared their accounts could be frozen, or were frightened by the prospect. Cash is anonymous and its use is immune to state intervention (so long as the government doesn't emulate India by turning bills into toilet paper).

In addition, even former skeptics are now open to crypto such as bitcoin as a haven for assets.

"I still can't believe that this is the protest that would prove every Bitcoin crank a prophet," writes David Heinemeier Hansson, a partner in the tech company Basecamp. "And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies."

But "Bitcoin is far from universally accepted at stores," Andrea O'Sullivan warns at Reason. "The longer-term solution is to encourage more businesses to accept cryptocurrency so there is no need to bridge into government-controlled money at all."

That may well happen. Seeing the writing on the wall, governments promote central bank digital currencies (CBDC) as alternatives to both cash and crypto. But they openly salivate over being able to monitor and restrict its use. "The Bank of England has called on ministers to decide whether a central bank digital currency should be 'programmable', ultimately giving the issuer control over how it is spent by the recipient," The Telegraph reported last year.

Officials argue that controllable CBDCs could cut down on tax evasion and crime. But Canadian officials freezing protesters' bank accounts emphasizes that there are worse things than underground economies. Independent crypto alongside cash could help people retain their financial freedom.

"Perhaps we want to have government able to deny financial services to criminal organizations (but think carefully about this before you agree)," economist Arnold Kling writes. "On the other hand, we do not want government to be able to deny financial services to people who hold dissenting views. The problem is that nowadays, especially with COVID and with cancel culture, we have become accustomed to criminalizing the expression of dissenting views."

Sacks wants to prohibit financial institutions from denying services for political reasons. But that would be enforced by the same regulators who lean on banks and insurance companies to shun sex workers, gun dealers, and payday lenders. They're supposed to transform into neutral arbiters because the law says so. In the real world, regulators will more likely use expanded power to hurt the enemies of whoever is currently in office in the name of curbing some imaginary threat to public order.

A better solution is preserving cash and continuing to develop crypto that protects privacy and bypasses intermediaries. Even the International Monetary Fund concedes that people seek "a defense against attempts by an all-encroaching 'Big Brother' surveillance state to rob people of their anonymity by forcing them to leave an electronic payment trail." But it's not just surveillance. The Canadian government's excesses remind us that there's no freedom if the state can separate us from our money.

NEXT: Brickbat: Bad Medicine

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  1. Is it illegal to say he needs treated like JFK?

    1. No innuendo I swear. No woodchippers involved. Pinky swear.

      1. I heard Ottawa has great libraries and book repositories. Are those like Barnes and noble?

        1. Who are Barnes and Noble?

          1. Well they're probably white supremacists. We know schools have books and are full of white supremacists.

            It's only logical to assume somewhere else with that many books is also full of white supremacists.

          2. didnt they invent the internet ?

            1. Invent? No.... they just gave Amazon the keys to it. Remember when Amazon was just selling books?
              B&N's response, "whatevs ¯\_(ツ)_/¯ internet schminternet"

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    2. Canad-eh tried gun confiscation. Failed.

      nO- Canada!

      So thats an option.

      "There’s no freedom if the state can separate us from our money."

      That sounds rather Capitalist!

      It ceased to be our money with the bastards at the Fed Reserve taking over and with abandoning the gold standard and commodity money.

      FJB

    3. Idolized? No sweetheart you can do that.

      1. Yes, the implied assassination will only bring a groundswell of support to his party (and his memory), while putting the architect of the most tyrannical response in charge of the rest of the government.

        1. Yeah, that makes me buy into the whole global reset cabal conspiracy too. How in both America and Canada did we end up with both second in commands that would be even scarier than the guy in charge.

          I know Freeland and Trudeau both have many trails back to klaus Schwabs wef young world leader program, I've never looked into it for Harris. But she's got her own dark money and grooming trail to follow.

          1. Harris is such a strange case of failing upward that there can't be any kind of nefarious explanation. Seems like a pure case of knowing the right people and checking the right boxes - she's so inept that if there is a global conspiracy involved then it's sure to collapse under the weight of its own stupidity in short order.

            1. Sucking dick isn't failing

              1. Its "Suck - Seed" ing!

            2. I prefer to think of it as a tactical move that is far more effective than anything that Secret Service could devise. Bush Sr, Junior, Obama, and now Biden all managed to pick someone either scarier or more repulsive than they ever hoped to be. And with Pelosi in #3 spot, the cover is thick.

      2. Oooh I triggered a strudel response! Score! It's a badge of honor, just like making hihn and sarcs lists.

        1. No, it’s more like getting a barnacle on your boat hull.

          1. He should stay below the water line?

  2. Stop using the authoritarianism on display in Canada to push your little hobby horses mike crypto. Crypto eventually needs to be pulled off market for most major purchases. For example im unaware of a mortgage company dealing loans in crypto to a seller.

    Crypto is not some magic no trail system. In fact every transaction is tracked. The FBI has already caught very talented hackers trying to launder billions in crypto through micro trades.

    While it was good the various crypto wallet firms pushed back on electronic requests of people in Canada tied to the convoy, it is not a panacea.

    Time and effort would be better placed attacking Canada's government for their abuses. Ottawa mayor said they want to sell all trucks taken under the emergency act. No bail for the woman who started the gofundme for the convoy, a non violent offense. 400 Bank accounts frozen. Police citing protestors who peacefully left after promising if they left they would not be arrested.

    These are all terrible things from a libertarian standpoint but you instead push crypto.

    1. It's possible to attack multiple parts of a problem simultaneously.

      1. I mean I kind of agree with Jesse. I think crypto is kinda dumb, like relying on most things digital. Crypto currencies cannot be a hedge against "the system" while simultaneously relying on "the systems" electrical grid.

        If everything goes to shit its not like power plants will magically be untouched. In fact if war or chaos break out, cyber attacks on electrical infrastructure will be one of the first volleys in that conflict.

        What good are crypto currencies without a functioning electrical or internet grid?

        1. crypto is just national currency in, and data out. And da Gimmement can shut thst down, except if yhey dont want to reveal the extents of their hacking.

          At least at the Laundro- Mat, one gets laundry machine tokens.

          Crypto is the ultimate con game.

          1. Idk Stocks are up there

            1. social security too.

            2. those are maybe actuslly backed by corp paper...

              maybe..

              And highly regulated.

        2. For some odd reason, many of the same people who recognize that FBI, NSA, and CIA are spying on our internet activity think that they can't figure out how to track bitcoin transactions.

          At some point, I hope that these people realize that the 4th Amendment (as well as the rest of the Bill of Rights) doesn't mean shit to the glowies.

          1. Recall the airliner that was shot down near India?
            mh 370 ?

            " no way to track it" my ass.
            My engineer/ radio operators ass...

            No ones militaries want to admit who did it and the extent of their comms capabilities.

        3. What good are crypto currencies without a functioning electrical or internet grid?

          What good is a bank account in that case? Even cash would be largely worthless in a SHTF situation, as its value gets hyperinflated away or simply turns into uncomfortable toilet paper.

          Crypto isn't a hedge against disaster, it's simply a way to undermine the government's monopoly on currency.

          1. That makes sense. But when the govt comes calling like Canada it's going to be up to each individual company/wallet/coin to say yes or no I guess? I don't claim to understand it all, I'm just asking questions.

            It seems like in normal times that might work, but sadly Canada is not normal times. What if the Canadian government cannot get enough crypto companies to comply so they simply turn to cellular and ISPs to block these peoples internet access and cell data? I guess they could all trade crypto at the library or Starbucks or something, but you see where I'm going.

            And I don't think cash is great in this scenario either. Goods, tools, guns, and skills will be most valuable.

            1. "That makes sense. But when the govt comes calling like Canada it's going to be up to each individual company/wallet/coin to say yes or no I guess? "

              No. It is up to the individuals engaging in a transaction. The wallet cannot prevent spending a coin. Hell, if you are willing to take it, I can hand you a piece of paper with the Private Key for a specific address written on it. Nobody can stop that from happening (though there are reasons you don't want to do this).

              There wallet is just a piece of software that facilitates transactions by saving your private keys securely, and handling broadcasts to the chain. There is no central party in bitcoin (and many, but not all, other crypto blockchains) that can control who spends what. The blockchain eco-system is just a bunch of computers agreeing to run the same protocol (or rules for handling transactions). If one of those computers or a large number of them try to break or change those rules, the rest of the computers don't have to agree. This is the beauty of permission-less currency.

              "What if the Canadian government cannot get enough crypto companies to comply so they simply turn to cellular and ISPs to block these peoples internet access and cell data?"

              There are various things you could do, but all of them are far more difficult than restricting people's fiat accounts. Don't let the perfect be the enemy of the good. And besides, the ability to monitor, detect and restrict everyone's internet access comes with costs that are quite high.

              1. I agree with regard to government access, but over the past couple of years, I think what scares far more people off is the volatility. Of course, the same thing holds true with gold and others.

              2. I don't know about that last part. It seems even if the costs are high the Canadian govt sure convinced a lot of banks, lenders, insurance companies, etc to monitor and cancel/suspend the accounts of several thousand people pretty quickly. They could probably contact their cell provider and isp just as quickly.

                Hell I honestly wouldn't be surprised if Canada just cut the power to entire neighborhoods if a few residents in the town donated to the truckers.

                If things go to hell and the full weight of the government is devoted to this task, id assume these things would go even quicker.

            2. What if the Canadian government cannot get enough crypto companies to comply so they simply turn to cellular and ISPs to block these peoples internet access and cell data? I guess they could all trade crypto at the library or Starbucks or something, but you see where I'm going.

              So instead of a small group of government-selected stooges flipping a switch, it becomes a whole agency playing whack-a-mole against the internet. Yeah, it's still possible to stamp out the purchasing power of anyone with a low enough social credit score in a crypto-friendly environment, just like it's still possible for a government to oppress and armed populace, but the decentralization offered by cryptocurrency still helps shift the balance of power from the government back to the people.

              How substantial that shift is, I don't know.

              1. the decentralization offered by cryptocurrency still helps shift the balance of power from the government back to the people.

                Cryptocurrency offers no decentralization. Where my statement isn't conclusively true, the inverse claim makes no sense or is no more provable ("our method for generating IDs indistinguishable from random noise isn't centralized and, even if it were, no one would/could know") and where it is true cryptocurrency is just as, if not more, centralized as any fiat currency system (The Fed requires all transactions above $10K to be reported but blockchain advertises all transactions always being reported regardless of amount as a 'feature') and just uses a different fiat.

                A cryptocurrency *could* be decentralized but that's almost universally not what people are talking about when they say 'cryptocurrency'.

        4. "What good are crypto currencies without a functioning electrical or internet grid?"

          What good is any currency without a functioning X? Depending on the severity of the disaster, any currency is worthless. 3 Weeks into the winter collapse of the power grid, neither bitcoin nor dollar nor gold bar will be worth shit in the center of New York City. Trade will be measured in bullets and canned food.

          1. And toilet paper. Stock up before the Big One hits. Bourbon is a close 2nd.

            1. Coffee might be in there too, but it's got a remarkably short shelf life. [Don't tell that to the Taster's Choice crowd because that tastes as good 20 years from now as it did the day it was bought]

              But if you know the big one is around the corner and can get your hands on it, various medicine is the way to go. With that you can buy anything available, and it's a lot easier to hide and transport than toilet paper or canned food.

          2. Addressed this just above. I agree.

            1. He's being willfully stupid. Mad libs sophistry; What [noun] is any [noun] without a functioning [noun]?

              Sure, currency was in use for millennia before electricity or internet was available to the public and sure it's currently being used in places where electricity and internet aren't available but, once collapsed, the only way back from shooting people and taking their food will be to rebuild the electric and network infrastructure so that we can all exchange BTC again.

              He may as well be saying "Adam Smith was wrong because of electricity."

        5. LOL without electricity we have way bigger problems than your bitcoin being 'worthless'.

      2. It is. However, when people use 'crypto', 'blockchain', 'diffuse', 'decentralized', 'anonymous', and 'pseudonymous' interchangeably in order to hype/sell their pseudonymous, diffuse, blockchain currency as directly interchangeable with an anonymous, decentralized, currency or, worse still, interchangeably with both the above and an eponymous, centralized, credit system, you wind up fighting a losing battle on two (or more) fronts.

    2. No bail for the woman who started the gofundme for the convoy, a non violent offense.

      In a supposedly liberal society, not an offense period. Does Canada not have an ex post facto restriction?

      1. They removed it after the fact.

      2. In an authoritarian structure, the authoritarian is not bound by limits on his authority. He simply grants himself additional authority and calls everyone who doesn't like it a white supremacist or Nazi. He counts on the bobbleheads to agree that he needed this additional authority to protect them from some stuff and some other guys who are by simple definition, the bad guys.

    3. Crypto's appeal is not that it is anonymous (even though it is getting trivial to make your transactions anonymous). Crypto's appeal is that it is permission-less.

      You are correct that some complex financial transactions are currently difficult with Crypto, but that is because many of the most difficult financial transactions are artifacts of the fiat monetary system. Fractional reserve banking drives all sorts of behaviors that are, frankly, not compatible in most crypto markets.

      There is a reason why, today, you can go to third world countries and live almost completely off of bitcoin, without having to transact in fiat currency. Bitcoin's biggest risk is its volatility, but 3rd world countries' fiat was so risky that it outweighed the risk of 10 - 20% swings.

      The whole point of this article is that the more Zoolander and Uncle Joe adopt the tactics of 3rd world dictators, the more they usher in a world like El Salvador or Nigeria, where people would rather trade in permission-less currency than deal with the risk imposed on their fiat.

      Let's just say that you are right and you cannot get large loans in crypto (this is not true today, but it is very different because collateral requirements are much higher). If tomorrow you and every other Deplorable is banned from getting a home loan, then it doesn't matter whether you have fiat or not. Neither system gives you access to loans, so you might as well convert to crypto since it can't be inflated away or arbitrarily seized by your leader.

      1. The whole point of this article is that the more Zoolander and Uncle Joe adopt the tactics of 3rd world dictators, the more they usher in a world like El Salvador or Nigeria, where people would rather trade in permission-less currency than deal with the risk imposed on their fiat.

        That people can't also see that the end result of this shift will eventually be our own Franco, Salazar, or Pinochet, at least in some parts of the countries, is rather frightening. I don't want a junta more sympathetic to my own sensibilities; I want the democratically elected left wing governments currently in power to stop acting like one themselves.

        1. Well this is why they freak the fuck out whenever the "Other Guy" is in charge. Trump's election broke people precisely because lefties felt a crazy person had just inherited the ability to punish enemies with impunity. The leftists innately know just how much power they are continuously shifting to the federal government, which makes their fear that much more potent when they lose control of it.

          1. That outs a serious problem of a President being that much in control instead of a largely figurehead errand boy for Congress.

      2. Crypto's appeal is that it is permission-less.

        No. Crypto's appeal is that stupid people don't understand it and you can get them to sell it to stupider people. It's absolutely not permission-less. The abstract 'supreme triumph' that BTC supposedly represents is the solution to the Byzantine Generals Problem, the ability to determine which Generals have permission to vote on any given (trans)action and which Generals don't. It's permission state is more rigorous and rigorously enforced than cash where nobody has to have any permission or consensus of permission to utilize it in payment, receipt, or both (let alone refunding, charging back, lending, borrowing, etc., etc., etc.).

    4. You’re right. Cryptocurrency isn’t going to so,EV anything. The fact is that Americans are in an escalating Cold War with their government. The democrats are a hostile force that wants to conquer this country. Until they are defeated, things will keep getting worse.

  3. Not seeing how it will make bitcoin more popular, given that freezing accounts also freezes the ability to convert it to real money.

    1. See comment below.

      If you can send people MobileCoin through Signal, they can give you cash for it.

      There are private money changers all over the developing world. They often have shops right outside the airport.

      Individuals who have access to hard currency can act as an exchange.

      1. So... a bank. Your hope is that money changers will take on banking roles and will somehow escape from government control of banking because the Top Men just won't notice? Also, good luck getting past the TSA/traffic cop with your "totally not drug money why don't you just use a bank like a good citizen lmao" cash money.

        1. No you are getting this wrong.

          First of all, why do we need hard currency in a world where hard currency is extremely risky? When governments act to freeze your money merely for being a deplorable, it becomes more risky to convert crypto to fiat. Sure bitcoin might have 20% fluctuations each week, but your bank account can be frozen for failing to use the right pronouns for some Blue Check Twitteratti. That's a 100% loss of funds.

          But the point Ken is making is that you can exchange money with people without use of a bank. You may not have been to the developing world, but the people changing money in the country are not banks. I don't think westerners realize just how many institutions we take for granted.

          1. Youre dumb enough to think they cant stop bitcoin? Its just computer data...

          2. I agree that's how it works in theory and to an extent. But it's a limited and false sense of security. List your top 10 most critical and costly payments you make every month and put a checkmark next to all those that take direct Bitcoin. [Vices don't count.] Chances are that none of them do. Therefore, you have to turn that Bitcoin into fiat before you can survive. That's where they have you.

            Also, if the government truly wants access to your account, the only question is what do they have to do to you for you to hand it over? My bet is that it's not nearly as much as you think. In that respect, false security means you don't take other action and don't understand where the weakness is.

        2. "Your hope is that money changers will take on banking roles and will somehow escape from government control of banking because the Top Men just won't notice?"

          If a protester can find someone with an ATM who is willing to take the MobileCoin that his supporters are sending him, he can turn that MobileCoin into a money order to pay his rent or cash to buy groceries.

          Don't do anything illegal. If you're not sure whether what you're doing might be illegal, seek the advice of a lawyer. I am not a lawyer.

          We're talking about thousands of people getting help from their friends and family through their phones. Black market money changers outside the airport are just one example. Apply the same principle on a wider scale. You've sent a protester some MobileCoin through an encrypted app on his phone. Can he find someone to help him turn it into cash? The answer is yes, and probably pretty easily--his friends and family can facilitate that for him quite easily.

  4. Can we stop talking about crypto and Bitcoin interchangeably? I think it's filling people with a lot of false assumptions and false expectations.

    Bitcoin sucks. It has limited utility, and it does the opposite of privacy. Paper currency is more anonymous than Bitcoin. Bitcoin's utility is as a speculative investment and a widely available way to turn crypto into paper currency. It may someday prove to be resistant to inflation.

    Ethereum has far more utility, and it's engineered to become more useful all the time in ways people are already using it and in ways people haven't even thought of yet. Over long periods of time, Ethereum's value will be a function of how much people use it to solve real world problems, and its adoption as a useful way to solve problems will partly be driven by its lack of anonymity.

    MobileCoin is a peer to peer cryptocurrency that's engineered for anonymity. Monero is also made for anonymity.

    It appears that it might be possible to process MobileCoin through payment processors without the need for an exchange.

    "The Zero Hash deal in particular will allow Americans to buy MobileCoin through payment processors."

    https://www.wired.com/story/signal-mobilecoin-cryptocurrency-payments/

    The sooner average people start differentiating between Bitcoin and other cryptocurrencies, the more they'll start seeing the real world applications, and the sooner they stop believing that Bitcoin transactions are anonymous, the less susceptible they'll become to political manipulation or to support stupid regulation.

    1. "Bitcoin sucks."

      This is a subjective assessment, and you are wrong.

      "and it does the opposite of privacy."

      This is also wrong. With Taproot updates, it is trivial to anonymize your transactions.

      "Ethereum has far more utility, and it's engineered to become more useful all the time in ways people are already using it and in ways people haven't even thought of yet."

      Currency doesn't need to have utility other than meeting the needs of being a currency- durability, portability, divisibility, uniformity, acceptability and stable/limited/predictable supply. That is all the utility it needs.

      I think Ethereum is fine. But the idea that it is a superior currency because people use it for non currency uses (thus pitting utility users in a bidding war against people who just want to store and exchange value) is silly. Ethereum also carries with it many downsides. 20% of the supply is held by the insiders. Another 40%+ is held by the connected purchasers who participated in the ICO. (And by the way, there is a looming sword of Damocles over Ethereum, in that the US can at any time declare this an illegal securities offering, because of how the ICO was structured.) It is also unclear to me why POS is so much better than POW. POS is basically, "Whoever has the most coins gets to mine new coins".

    2. "and the sooner they stop believing that Bitcoin transactions are anonymous,"

      https://blog.wasabiwallet.io/the-privacy-benefits-of-taproot/

      Also wrong.

      Trying to insist that one crypto is better than another is fundamentally no different than arguing whether apple is better than android. It leads people to make these silly conclusory statements in an attempt to make qualitative and subjective attributes seem like objectively quantitative deal breakers. It just makes you look foolish.

      1. Actually, Bitcoin isn't anonymous, by itself, others are, by design, and Ethereum's smart contracts offer functionality that Bitcoin doesn't. I get paid $120 a year or so seeing ads on my browser because of Ethereum, and Bitcoin doesn't do that.

        What does Bitcoin do that others don't do better?

        Because it's widely available, it offers a highly fluid medium to cash out from other currencies. Because it's limited in total size, it may prove to be resistant to inflation over time--someday.

        Cryptocurrencies that do things better than Bitcoin are better than Bitcoin in the way they do those things. It's astounding that this needs to be said.

    3. I think of Ethereum like Betamax and Bitcoin like VHS. Ethereum may be better, but everyone uses Bitcoin. And eventually they will both be replaced by DVD.

      1. They don't use Bitcoin for much of anything but speculation.

        Ethereum is actually in use. If you're getting paid in BAT through your Brave browser, you're actually using Ethereum.

        https://en.wikipedia.org/wiki/Brave_(web_browser)#Basic_Attention_Token

        Ethereum is in demand because it has actual uses.

  5. If Republicans don't repeal the Bank Secrecy Act when they take power then they stand with the likes of Trudeau. Grand talk and half measures won't cut it.

    1. What we need is the Fair Access to Financial Services Rule. One of the first things Francis Biden did on taking office was cancel it.

      https://www.regulations.gov/docket/OCC-2020-0042

  6. No, real estate and other defendable assets will be more popular. I plan to grow tulips instead of Bitcoin.

  7. So... Martial law has turned Canada into a strongman banana republic, and y'all push for crypto?

    Your house is on fire and you want to change the curtains.

    You do not worry about crypto, you kick the fucking tyrant out.

    1. Bingo.

      Trudeau's head belong on a fucking pike, along with everyone else enabling his bullshit, and that's the end of it.

      1. pike inserted axially...

        ( coughRECTUMcough)

  8. Works in theory. In the real world nobody gets paid in cash, and mortgage companies don't accept it or bitcoin.

    1. If you have transactions over 10K in cash, you're reported for having too much cash. And if you structure your transactions to avoid going over 10K, you're reported for structuring.

  9. "The Bank of England has called on ministers to decide whether a central bank digital currency should be 'programmable', ultimately giving the issuer control over how it is spent by the recipient"

    How could any government resist that? Just a matter of time.

  10. The real problem is a centralized banking system (i.e. federal reserve, and others) beholden to unaccountable bureaucrats and politicians.

    The real problem is fiat currency and the notion that the government has the power to control the supply of money in circulation and set interest rates.

    The real problem is acceptance of the notion that the government can justifiably crack your fucking skull and take your money if, for whatever reason, you decide not to relinquish it.

    Cryptocurrencies are fine and well -- until they are outlawed and anybody caught using them gets their skull cracked open. The only way to outrun totalitarianism is to stop it dead in its tracks. And by dead, I mean dead.

    1. That was the un- Civil War problem

      The US Gummit was behind slavery, wrote Booker T Washington in his Autobiography.
      Lincoln using the US Military to attack and murder Citizens was about seizing the Souths banks and money.

      That a run on from the 1850s Crowbar Laws...

  11. This is why have a safe.

    1. and a gun NOT in it.

  12. Wait.... This whole thing is a crypto pump and dump scheme?

    No way!

    1. Mostly it's Putin getting the west to finance his legacy moves of re-building the Soviets piece by piece.

      He gets belligerent, fuel prices go up, and his aggressions become self financing.

      1. With Piss Pants Biden too demented and weak to stop him.

        What did Trump tell Syria?

        " Ill blow you up."

        And he did.

  13. I'm not sure the people who live in Ottawa, whose lives had been disrupted by the truckers for three weeks, would share the opinion of most here that Trudeau is the villain. I think most of them want to know why Trudeau didn't do it two weeks earlier.

    You guys honestly think that a group of tantrum-throwing toddlers, whose views are opposed by the overwhelming majority of Canadians, have the right to bring life to a standstill for an entire city just because they're not getting their way. You are aware that 90% of Canadian truckers have been vaccinated, and the organization of Canadian truckers (the actual name of which is escaping me at the moment) opposed this, right?

    1. Bootlickers like you never seem to learn that the people you denounce as "tantrum-throwing toddlers" today are going to be you tomorrow.

      The end is always the same for you motherfuckers. Always and without exception. Either the people put you down, or the people wearing the boots you lick with such enthusiasm do the job instead.

      Either way, you don't get to walk away from this.

      1. Of course I get to walk away from it; I've been vaccinated. If the truckers don't want to quarantine they can get the damn shot.

        1. Of course I get to walk away from it

          You don't. You never do.

          1. Surely there's been some mistake! I'm a loyal member of the Party!

            1. If only Comrade Stalin knew!

        2. It's not about the shot, it's about the mandates.

    2. Thats a lame copy paste lying Troll comment, Asswad.

      Fail.

    3. LOL some of us watched hours and hours and hours of video. The entire city was not at a standstill. Ironically, today it is with police checkpoints everywhere.

      1. Papers, please.

      2. And it was the most amazingly peaceful and positive protest I've ever seen. There are thousands of hours of video streams online covering pretty much everything that happened. If there was anything violent or nasty, we'd all be hearing about it. The best they have is some non-destructive disrespect (questionable) of some statues and monuments (after which the protesters started guarding the monuments) and the fact that some local residents were annoyed and inconvenienced. That's it. That was the crisis in Ottawa.
        The border blockades I also support, but I'll grant that that's a bit more serious. And they managed to end the biggest one before any emergency powers.

    4. 90% of truckers have been vaccinated, but that's not the same as support for the vaccine mandate. A lot of fully vaccinated truckers joined the protest because the issue isn't the vaccine, it's the government's ability to MANDATE what personal health choices you're making.

      Lots of people attending and supporting the protest were vaccinated. Lots of people who attended and supported were also wearing masks. The issue isn't about the thing itself, it's the government using force. I also hate seat-belt laws, despite the fact that I wear a seatbelt at all times I'm in a car and would continue to do so if the law disappeared. But the thing about seat-belt laws is that they only affect me WHEN I'm in a vehicle, whereas a vaccine is not something I only put on when I'm at work.

      1. When your personal health choices make it harder to control a pandemic that affects everybody, they are no longer your personal health choices.

        If the government were physically forcing everyone to get vaccinated at the point of a gun I would agree with you, but that's not what happened. You don't want to get vaccinated, you don't have to, but you do have to then quarantine for a reasonable amount of time to ensure that you're not spreading the disease. Sorry, I don't find that to be Stalin-level totalitarianism. Make your health choice, but don't expect to be allowed to be Typhoid Mary. Other people have rights too.

        1. If the government were physically forcing everyone to get vaccinated at the point of a gun I would agree with you, but that's not what happened.

          Like fuck it wasn't happening.

        2. Make your health choice, but don't expect to be allowed to be Typhoid Mary.

          This is also disheartening. Being unvaccinated is not dangerous to anyone's health. If you think someone is a carrier and is endangering others, the burden falls on the STATE to prove that person is actively harming others in order cancel their rights. If they're not sick they can't be spreading the virus, and even truckers who might catch COVID aren't super-likely to spread it because they spend a lot of time alone. You can't throw someone in jail on the possibility that they MIGHT, at some future date, cause a car accident. You can't steal someone's assets because they MIGHT use them to buy illegal substances (well the US does it all the time but it's an illegal practice that needs to end). If you are proven to be violating someone else's rights in an affirmative matter, beyond a reasonable doubt, the government can then abrogate your rights.

          This is a naked abuse of power, and the power being exercised is completely arbitrary. There's actually no reason to believe this mandate is going to be particularly effective at combating the virus. It MIGHT, but given that the vaccinated can still catch and trasmit the virus, it's far from definitive. Plus the public health threat is largely ending as Omicron dies down anyway. But now the government has the power to force even more behavior as being, potentially, for some vague public good even if the vector for that public good is entirely speculative, and if you disagree, they will steal all your assets.

          The price of letting the government do this is too damned high.

          1. +1

            Excellent post.

        3. Holy shit you still think you can control this? Where have you been living?

        4. "Sorry, I don't find that to be Stalin-level totalitarianism"

          So what more acceptable of totalitarianism is it then, you bootlicking pathetic fuck?

          1. edit: What more acceptable level of totalitarianism is it then?

            1. Hello reason: make a button that allows us to make edits to our posts within the first 15 minutes after posting or something.

              1. trash it and Disqus.

        5. "at the point of a gun" Ultimately, it is. Think it through.

        6. When your personal health choices make it harder to control a pandemic that affects everybody, they are no longer your personal health choices.

          The public health choices the government has made (lockdowns) are causing suicides, drug overdoses, mental health problems, and more. Your obsession with lockdowns is killing people.

          Learn balance and to make tradeoffs. I realize that's something Liberals are terrible at.

        7. The ‘vaccines’ provably do not stop transmission. So your entire argument falls apart.

          1. Moreover, the vaccines are dangerous, and much more dangerous than the virus for a significant portion of the population.

    5. Less people for a 2 week disruption than the people disrupted for 2 years. What an ignorant comment.

    6. They have a right to participate in civil disobedience and take the consequences. The worst crimes committed were parking violations and excessive noise. Those are things to be dealt with through normal legal processes. The fact that it's difficult to follow proper process sometimes is a good feature of our legal system and Canada's, not something to be tossed because it's inconvenient.
      Protests are annoying and disruptive. That's the whole point. I feel for the people who had to put up with it for weeks. But some people being inconvenienced for a little while is not reason to throw out all of the important legal principles and rights.

      1. Poor people inconvenienced vs blood clots and heart attacks from the vax

        Not much comparision IMO.

        PS a vax that doesnt work or last.

      2. You are forgetting “Mischief”, whatever that is.

        Noun[edit]
        mischief (countable and uncountable, plural mischiefs)

        (uncountable) Conduct that playfully causes petty annoyance.
        Synonyms: delinquency, naughtiness, roguery, scampishness; see also Thesaurus:villainy, Thesaurus:mischief
        Drink led to mischief.
        (countable) A playfully annoying action.
        John's mischief, tying his shoelaces together, irked George at first.
        (collective) A group or a pack of rats. quotations ▼
        (archaic) Harm or injury:
        (uncountable) Harm or trouble caused by an agent or brought about by a particular cause. quotations ▼
        She had mischief in her heart.
        Sooner or later he'll succeed in doing some serious mischief.
        (countable) An injury or an instance of harm or trouble caused by a person or other agent or cause.
        It may end in her doing a great mischief to herself—and perhaps to others too.
        (law) A criminal offence defined in various ways in various jurisdictions, sometimes including causing damage to another's property.
        (archaic, countable) A cause or agent of annoyance, harm or injury, especially a person who causes mischief. quotations ▼
        Synonyms: bad boy, knave, rapscallion, rascal, rogue; see also Thesaurus:villain, Thesaurus:troublemaker
        (euphemistic) The Devil; used as an expletive. quotations ▼
        (Australia) Casual and/or flirtatious sexual acts.

    7. Funny, when the leftists were rioting throughout Canada, Trudeau was ok with it.

  14. Wow, TooSilly takes a bold stand for liberty!

    Or, maybe not.

    What a sad pathetic little putz.

  15. Punking a Telemarketer, hard:

    " final expense burial policy."

    " Can I ask a question?

    " Sure, why not."

    " Im planning to commit suicide next week, would I be covered?"

    CLICK.

    Assholes deserve it..

  16. Some hard-hitting libertarian coverage of the Trucker protest and the meta effects of how the Elites write the narrative on events like these.

    The tyranny of high-status opinion
    How the woke left wrote the script for the Canadian state’s tyrannical assault on the protesting truckers.

    At first glance, it looked like one of the strangest, most incongruous moments of the great trucker uprising of 2022. There were the truckers and their working-class allies, in Ottawa, loudly agitating against Justin Trudeau’s vaccine mandates, when a bunch of hyper-woke, definitely not working-class counter-protesters rocked up to rail against this horn-honking throng. And what did they chant, these painfully PC counter-protesters? ‘Trans rights are human rights’, that’s what. As clear as anything, these supposed leftists, seemingly horrified by the sight of working-class men and women fighting for their rights, engaged in arguably the most striking non-sequitur of the 2020s so far – they brought transgenderism into an issue that has nothing whatsoever to do with transgenderism.

    1. The fourth estate, behaving more like lapdogs than journalists, has assisted the Canadian state’s authoritarianism – for example, by exposing the names of people who made small donations to the truckers’ convoy. One hack at the Salt Lake Tribune who has been emailing (harassing?) donors to the Freedom Convoy had previously been photographed wearing communist paraphernalia on social media. You couldn’t make it up: woke, self-styled ‘communists’ abetting the capitalist state’s suppression of a working-class revolt.. And of course the Trudeau regime has invoked the Emergencies Act for the first time ever in order to empower the state to liquidate this pesky, problematic gathering in Ottawa.

      1. Its more fun and profitable to lick the Communist masters boots than be a foot soldier.

        Those sometimes become victims of collateral damage.

        1. Useful idiots are only useful for so long. And plain idiots are not worth keeping around.

          1. YEAH the plain ones are executed to keep the others in line.

      2. I posted that fat fucks public email last week when he was doing it and sent him an email calling him a fascist piece of shit.

  17. So Putins in Ukraine throwing Biden families corruption out....

    Place your Bets !!!

    Thats why the non response from Groper and. Co.

  18. The issue isn't the type of currency or how you're using money or conducting commerce. The issue is that 55% of elected representatives in a country just legalized government powers to seize assets from anyone in the country. However you conduct your commerce to try to hide from this power is less problematic than the power itself.

    Again, what good is crypto-currency going to do when the government can just repossess your home and your vehicle and any other high-value assets you might use? Even if they can't track crypto they can still find you and seize all your stuff.

    This is absolute tyranny and their fucking Parliament allowed it.

    1. Trying to figure out how the best way to trade cigarettes under the noses of the guards inside the concentration camp is beginning to sound like missing the point.

      1. This is scary as fuck to me because Canada is so milquetoast and easy-going, at least in the consciousness of Americans. We consider our northern neighbors to be excessively polite, as well as generally open-minded, but also adhering to similar principles of freedom.

        They then saw an entirely peaceful protest, where not a single individual was harmed, no threats of violence were issued (at least not coherent ones), and children were welcome because it was like a cultural festival. The response to this was to abolish individual rights on a massive scale with no sunset clause, and they voted to uphold these powers even after the protest ended because they want these entirely peaceful people punished. Their only crime is disagreeing with the people in power. It's raw, naked tyranny of a variety I expect from third-world dictators and it's happening right next door. It actually terrifies me that people I would otherwise consider sane and pleasant are 100% okay with this.

        1. Thats the International coordination part of the program.

          All these ' leaders" are NWO CFR UN

          Its a global plan.

      2. This is what inevitably happens with progressives who try to hide in libertarian garb.

        The is no 'freedom' in any currency. No more than there is 'freedom' in any border. Both being creations of a political state.

        These people are poseurs with absolutely zero understanding of, much less support for the actual concept of liberty.

      3. ^^^ This
        ASSETS WERE SEIZED, the equivalent of murder, it’s kind of a big fucking deal. Canada, and the progressives in the U.S. are the CCP.

  19. lol no he'll follow the lead of those he most admires and ban bitcoin

  20. The party finally realized that teaching reading, writing and math in public schools was a mistake. Obedient working class serfs to the state are illiterate, trans, will not breed because their genitalia will be destroyed and are they are easily replaced. Bernie Sanders and Elizabeth Warren actually campaigned for Newsom, while the public school system has the highest illiteracy rates in the U.S. Can we get back to Critical race theory and pronouns dammit.

    Seizing assets is equivalent to murder. Canada is fucked.

  21. Crackdown?
    What crackdown?
    (Trudeau just ended the state of emergency.)

    1. But not the state of Stupidity.

      TURDeau

  22. I was never a fan of crypto currency but I certainly see the attraction now.

    1. benefit cards, phone cards.

      Anon. Used by the welfare crowd.

  23. Trudeau ended the emergency powers. This guy thinks it was because of the shockwaves sent through the banking system when government admits it can steal your assets with no oversight:

    https://theconservativetreehouse.com/blog/2022/02/23/a-major-backfire-is-the-canadian-financial-and-banking-system-in-serious-trouble-as-a-result-of-their-attack-on-private-bank-accounts/

    1. She looks like a hard meth or crack tweeker. I’ve never seen anything like that on a televised political event

    2. A few trucks in the street is a national emergency?

      Turdeaus a Drama Quern.

      1. I thought he was Trudopey.

        But either works for me.

  24. But worse still, the Senate discovered internal communication within the Trudeau cabinet where they discussed the "political benefits" of deploying the Emergency Act. That's why it was going to fail in the Senate. Justin and Chrystia panicked.

  25. Now let’s move to climate rhetoric, Russia, Ukraine and WW3. Are closing nuclear plants working out for Germany???? I thought progressives in the EU were going to do without heat and energy because climate change

  26. Trudeau has been changed to:

    Turdeau. On the occasion of him outing as a Shithead.

    Please make note in your Sarcasm file.

  27. 16th Amendment accomplished the same shift of power in the US.

  28. The idiot started THREE separate Canadian Bank Runs that's why they're back peddling...I pray the Good Canadians pull all their cash, stocks and cash their bonds.

    1. Like the Wu Flu virus, such events are good tests to know how to jerk the system for their benefit in the future.

  29. rnai is a technique that silences weegy
    RNA interference (RNAi) is a biological process in which RNA molecules silence specific genes, it's first discovered in plants and Caenorhabditis elegans and later in mammalian cells. https://rna.bocsci.com/products-services/sirna.html

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