Maxime Bernier, leader of Canada’s People’s Party, has proposed resetting the present fiat currency system.
Bernier believes the reset is inevitable and must be supported by gold or another commodity in the future. He named China and Russia as two examples of nations that may soon use commodity-based currencies.
“There will be a monetary system supported by commodities. A fiat currency system will eventually fail, although I can’t say when. After that, we need a monetary reset on a global scale, with money based on gold or other commodities, just like we did in the nineteenth century,” added Bernier.
Bernier pointed out that soaring inflation rates are caused by the government’s excessive printing and the growing weight of debt.
CBDC has been proposed as a substitute for fiat money. Many central banks are researching CBDCs.
Bernier has voiced his opposition to the currency because it would provide the government more authority to suppress the population and support totalitarian governments.
“The government will be able to monitor and regulate your every move if they issue a centralised digital money. As a result, we would have much more power over our finances. It’s another another way of life under a totalitarian regime. No, we don’t need that, and no, we don’t want it,” he continued.
He said that the CBDC plan was unnecessary since current payment methods such as debit cards and electronic transfers already fulfilled those needs.
Bernier also said he intended to use his prominent position to dispel myths about CBDC’s purported risks to the general public.