Personal Finance

Govt tracking your money...

  • Last Updated:
  • Oct 18th, 2019 12:55 pm
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10 replies
Deal Addict
May 12, 2014
3487 posts
3895 upvotes
Montreal
Would be better if they worked on tools that would allow the citizens to better track what the government is doing.
Deal Expert
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Mar 9, 2007
15620 posts
13285 upvotes
Think of the Childre…
I use cash. Try tracking that!

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Fanatic
Jan 21, 2018
9652 posts
10924 upvotes
Vancouver
F3el96 wrote: Shocking.
The word that comes to mind is "inevitable".

Like human-caused climate change, government erosion of privacy and movement toward total control will continue unchecked as long as people don't care enough to do something about it. As for the consequences, well, just read every SF novel ever. Face Screaming In Fear
Deal Addict
Dec 4, 2016
2011 posts
1030 upvotes
Unfortunately, with the political rhetoric regarding housing in Vancouver, such tracking is almost inevitable. Gotta find all the tax cheats living in million dollar mansions while collecting welfare, right?
Deal Addict
Nov 21, 2014
3580 posts
6290 upvotes
Atlantic
FrancisBacon wrote: Would be better if they worked on tools that would allow the citizens to better track what the government is doing.
No that would be pointless. We all know the government is doing nothing.
Deal Addict
Feb 28, 2014
1020 posts
1206 upvotes
Cheapo-Findo wrote: I use cash. Try tracking that!
The goal of this project should it go forward is to replace cash, and make them no longer legal tender. So the ultimate goal of this is to eventually devalue physical cash in favour of a digital currency. Canada is not the only country considering this.
Deal Addict
May 12, 2014
3487 posts
3895 upvotes
Montreal
EasyCompany251 wrote: No that would be pointless. We all know the government is doing nothing.
Ha, you're an optimist! I would love it if they did nothing. Problem is, from what I see, they often actively do harm while feathering their own nests and excluding themselves from their own rules.
Deal Expert
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Nov 15, 2004
21786 posts
4903 upvotes
Toronto
The government can't even enforce existing money laundering controls required to participate in the global financial system, so why do they think they can pull this off?
Deal Addict
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Jan 2, 2012
4682 posts
3973 upvotes
KINGSTON,ON
There's always going to be a black market, so there will always be an "alternative" payment system.
Obviously bartering isn't going to work if cash disappears, so something will fill the void. If the central governments do switch to digital currency, there would definitely be an increase in an unofficial crypto currency.
I could see a case where certain countries would defy the IMF and become a clearing house for such a thing.

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