The Bank of Canada Moves Closer to a Central Bank Digital Currency | The Loonie Hour Episode 83

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  • Опубліковано 7 лют 2025
  • The city of Toronto approves mass rezoning for residential development. There's an inventory shortage not just in Canadian housing markets but around the world right now. CPI inflation comes in as expected. Are deposit runs an issue in Canada? The Bank of Canada asks Canadians to weigh in on a central bank digital currency.
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КОМЕНТАРІ • 141

  • @samspade1841
    @samspade1841 Рік тому +20

    Top notch show guys👍 Find my self listening regularly. Rich, loving your input. I did my survey regarding the digital currency. Can’t believe how biased the questions were. I said absolutely not and that I don’t trust the government or central bank. I’m sure they will ignore our views and continue forward with distortions of our concerns. The average person is asleep. Appreciate you guys helping to make people aware. I guess you will be a C11 target now.

    • @diasx12
      @diasx12 Рік тому +3

      Thank you kindly Sam.

  • @stuomsen5094
    @stuomsen5094 Рік тому +6

    Rich is right on the mark about digital currency... listen to what he is saying!

  • @ermon20
    @ermon20 Рік тому +4

    I hate or dislike CBDC as well. Glad most of the cons of CBDC were discussed here. 🎯

  • @dutchgirl7603
    @dutchgirl7603 Рік тому +4

    Thanks for explaining the difference between GIC's and Money Markets, greatly appreciated ... keep up the excellent work! I look forward to your show every week.

  • @evadeanu1
    @evadeanu1 Рік тому +7

    Great show guys. Learned a few (scary) new things again. Keep it up!

  • @ThePettieLife
    @ThePettieLife Рік тому +1

    Thank you Rich!! Refreshing to hear more people speak out about the brutal potentials of CBDCs. I always say that even if you're perfectly happy with the current Government and have "nothing to hide", there will likely be someone in power one day that you don't like that could use this authoritarian power against you. It is always wise to limit Government power over the people and keep them in check. They're here to serve and guide, not rule!

  • @kyIeleblanc
    @kyIeleblanc Рік тому +3

    I just wanted to say excellent show as always guys. This episode of The Loonie Hour might be the best one yet!
    Opt out of the CBDC dystopian future with Bitcoin.
    Bitcoin isn't about making money, it's about replacing money.
    Fix the money, fix the world.

  • @richardpetts9661
    @richardpetts9661 Рік тому +1

    As always, thanks to you guys. Never a dull moment, and a little levity goes a long way. Cheers, Richard

  • @ConnieWalshcan
    @ConnieWalshcan Рік тому +15

    cbdc scares me as well. It will make certain purchases wrong and we will be preventing from buying them

    • @philshyu5248
      @philshyu5248 Рік тому +2

      Buy precious metals while you’re still allowed to!!!

    • @ConnieWalshcan
      @ConnieWalshcan Рік тому

      @@philshyu5248 So true

  • @DiabeticDawg
    @DiabeticDawg Рік тому +10

    Gotta love Rich. The rest of the gang is lovable too 😂🎉

  • @skyes2261
    @skyes2261 Рік тому

    Yes ! I’m glad you went here .. Canadians need to wake up !

  • @matthewodette1406
    @matthewodette1406 Рік тому +7

    CBDC is the line in the sand. I would rather live in the woods and barter.

  • @joelee095
    @joelee095 Рік тому

    The breakdown that rich gave of cbdc is amazing and bang on

  • @nikkian9254
    @nikkian9254 Рік тому +11

    Steve: "theres only been 400 total first time home buyers"
    Rich: "400,000?"
    Steve: "no 400 people" lol

  • @ryancarr808
    @ryancarr808 Рік тому +9

    Canadians Let's Not Let This Happen!!!

  • @Martmi29
    @Martmi29 Рік тому +3

    I just realized Rich looks like that guy from the movie "Honey we shrunk ourselves".

  • @handaferguson
    @handaferguson Рік тому

    Great Job!!! Thank You... :-)

  • @CoconutPatel
    @CoconutPatel Рік тому +13

    F*** digital currency

  • @roseoverdose6451
    @roseoverdose6451 Рік тому +2

    for the guys and the algorithm

  • @stevecatpatrick8056
    @stevecatpatrick8056 Рік тому +2

    The FTHB incentive program works great in the prairies, we've used it as well as many of our friends. If they removed the cap it would be taken up in the more expensive markets too.

  • @hill2750
    @hill2750 Рік тому

    Is there a way to measure the political cost of growth, and ways to protect against the risks there in?

  • @sarahdee3546
    @sarahdee3546 Рік тому +3

    What can we do to stand against digital currency in Canada?

    • @JohnSmith-qj7hd
      @JohnSmith-qj7hd Рік тому

      Vote

    • @clotshotthot5750
      @clotshotthot5750 Рік тому

      ​@@JohnSmith-qj7hdhaha, thanks for the laugh

    • @JohnSmith-qj7hd
      @JohnSmith-qj7hd Рік тому

      @@clotshotthot5750 yeah… it’s why I devote a small portion of my savings to precious metals. Just incase

  • @mikepepper8395
    @mikepepper8395 Рік тому +5

    Central banks want to be able to create money to stimulate the economy without inflating stocks and housing. It would also allow them to slow the economy in the same way. Theoretically reducing boom and bust cycles. It only comes with the low low cost of your freedom.

    • @ryancarr808
      @ryancarr808 Рік тому +2

      Yep, the low low cost of freedom. Well said my guy. If there is any chance we can stop this aggress foul on our human rights, we must. I'll take time off work and picket the heck out of this nonsense. #BITCOIN

    • @donm2067
      @donm2067 Рік тому

      Bitcoin is the beta test to CBDC, get yours PM

  • @mogulrider
    @mogulrider Рік тому +3

    Interested that you all are calling a bottom. The economic fundamentals of our economies are frankly horrific. Profits are crashing, banks are closing, unemployment is now rising, 45% of Cdns with variables say they can last 6-8 months before they are toast. Yet rah rah rasputins cheer Hooray! At some point, like all times before, Irrationality will meet economic fundamentals. It's just time that confuses people.

    • @donm2067
      @donm2067 Рік тому

      They will just change the rules, just like before.

    • @mogulrider
      @mogulrider Рік тому

      @@donm2067 Damage is damage, You can't legislate the damage the FED is doing. You can't legislate a Negative M2 and Aggregates Money supply. These are the outcome of the legislative process. It's the outcome they didn't intend but have. That M1+ and M1++ negative chart is a deadly thing. It hasn't happened in modern times. It takes 6 months or so to show up. That is what people don't see. It's the fall of this year when it will show up in the news

    • @donm2067
      @donm2067 Рік тому

      ​@@mogulrider I hope you're right. It's like gravity doesn't exist these days

    • @mogulrider
      @mogulrider Рік тому

      @@donm2067 never hope, play the game you have in front of you. There are only logical probabilities. people can be stupid for a long time. Its why I have always said 2025-2026. Crashes are a process. Bear markets eat people on both sides. Rate of change matters and the grind kills all if you don't go to other areas. check back in from time to time. I check in to see what range of thinking is. everybody is pumped again. classic rip your face off bounce with a cascading crashing economic system. its a recession people in this space forget what they are because mommy Fed hasn't let debt die. eventually they won't stop it. its the business cycle, nothing more

    • @mogulrider
      @mogulrider Рік тому

      @@donm2067 Go look at any chart of any commodity. The gravity always starts there. commodities have crashed due demand destruction. China won't save the world this time. its at war with the West. It then shows up in business closures, cmbs @ mbs defaults, banks, etc
      remember that housing peaked in late 2006, it didn't show up in chaos until 2008. its just time that is the variable.

  • @darrendowns
    @darrendowns Рік тому

    Approx Minute 39 - the question is whether the interest income earned on a T-Bill in the US would be deductible for US tax purposes - probably a senior moment for the people on the video but . . . this is income . . not expense . . income would be taxable . . this is not a deduction this is an income . straight income.

  • @ctcamara
    @ctcamara Рік тому

    I bought my house with fthb program in Manitoba and all my friends did. It was good for places where the housing market is not crazy expensive.

  • @JohnSmith-qj7hd
    @JohnSmith-qj7hd Рік тому

    How does one increase density on that level. I know Mississauga and pickering have been upgrading sewers and such. Which has taken close to a decade.
    It’s not just cars, parking, roads, sewers, hydro, fresh water, sewage, schools, parks, Rec centers, public transport. Good idea but this is infinitely hard to pull off without drastically decreasing quality of life for people that live in those cities.
    It’s much easier to build out where u don’t have to rip out and redesign existing infrastructure.

  • @johnjeoffreym
    @johnjeoffreym Рік тому

    Good one guys

  • @James-vj5hz
    @James-vj5hz Рік тому +1

    Damn I hope Halifax gets the Schooners. I'll fly out and buy Keith a drink.

  • @philipsdefreville6138
    @philipsdefreville6138 Рік тому

    If you look at what UK is proposing, CBDCs won't pay interest. Also they are suggesting "transaction fees", something I have not seen raised before.

  • @steveshideler1333
    @steveshideler1333 Рік тому

    Empty nest can also become keeping the space so grand kids can come visit etc. need those rooms for the holidays.

  • @AR-pr6mt
    @AR-pr6mt Рік тому

    T-Bills are exempt from (USA) state and local taxes, but subject to Federal...correct me if I am wrong, I am not from the USA

    • @saretsky
      @saretsky  Рік тому +1

      Sounds like you’re right

  • @heatherbarclay3536
    @heatherbarclay3536 Рік тому

    The demand measures have all been very half-hearted and ineffective--by design. Mass rezoning is not the cure-all when speculators are allowed to buy up the land. Look how many new units have been built in Vancouver in the last decade. It has done nothing for affordability. Realtors, speculators and developers love the rezoning of course. Steve talked about the math. They won't build if they can't make a profit, so why should we expect a mass supply coming to us? Will that supply be affordable? We need mass NON-PROFIT housing badly. Also, NZ is still horribly unaffordable.

  • @duncanmacdonald9266
    @duncanmacdonald9266 Рік тому

    Its the rates keeping people in place, I pondered buying a different place a couple months ago but the rates are double what my current rate is.
    It just didn't make sense for me.
    I've got my rate for 3 more years so I'll hang tight and see if rates go down like the bond market is predicting.

  • @robertclayton2925
    @robertclayton2925 Рік тому

    Where folks who have paid off the mortgage with the bank. They should no longer pay property tax. That's when the finance Minister could do some actual accounting.

  • @adrianfranco1028
    @adrianfranco1028 Рік тому +1

    So wouldn't all government spending now be tracked through the cbdc? And to the Penney wow.
    😊

    • @ryancarr808
      @ryancarr808 Рік тому +1

      It could be tracked better with Bitcoin

  • @bojilek5633
    @bojilek5633 Рік тому

    pls elaborate on cbdcs

  • @DigitalDividendDollar
    @DigitalDividendDollar Рік тому

    29:58 you go to a peer to peer lending platform instead of a commercial bank for your loan.

  • @bat2275
    @bat2275 Рік тому +2

    Ask a trucker if he wants a central bank digital currency😂

  • @CANWESTTECH
    @CANWESTTECH Рік тому +1

    The math does not work. Money velocity? Thanks for the great discussions. At least trying to fore-warn ordinary people

  • @James-vj5hz
    @James-vj5hz Рік тому +1

    Great call by the Toronto City council. Zoning deregulation is needed across the country. Land value tax is the next thing that's needed to prevent municipal bankruptcies in the long run.

  • @ivanandreevich8568
    @ivanandreevich8568 Рік тому

    Houston has no zoning laws city wide. Only private ones in developments. One of the most affordable rapidly growing cities around.

  • @Chris-xc1tm
    @Chris-xc1tm Рік тому

    The bank can recollateralize your GIC multiple times and often does on the London exchanges.

  • @amosashurst7463
    @amosashurst7463 Рік тому

    I am skeptical that ending SFD zoning will add much supply - even in the long run. Maybe if the units can be stratified and sold separately but otherwise highest and best isn’t a slam dunk for higher density due to marginal cost being around the same as marginal benefit (ie, profit incentive to increase density may not be enough).
    (Adding a suite to one of my rental properties likely wouldn’t make sense due low rental return compared to cost of adding the suite)

    • @baseline6786
      @baseline6786 Рік тому

      Values will rise and some rental supply will come.

    • @amosashurst7463
      @amosashurst7463 Рік тому

      Certainly not an expert so you could be right
      (Probably for certain locations higher density makes sense if it’s new construction)

  • @ConnieWalshcan
    @ConnieWalshcan Рік тому

    What about the bbbyq that shows more shares in cede in co than has been issued. That is a short selling fraud tell.

  • @suboyi
    @suboyi Рік тому +2

    Rich always hating on the carbon tax

    • @diasx12
      @diasx12 Рік тому

      Yes, it is true. I am not too fond of regressive taxes.

  • @DougLogan-e7q
    @DougLogan-e7q Рік тому

    The bank of canada needs new leadership

  • @somejohndoe3004
    @somejohndoe3004 Рік тому

    Gov. Ron DeSantis (R-FL) signed legislation to ban a central bank digital currency in his state.

  • @billrussell1933
    @billrussell1933 Рік тому +1

    Vancouver looking beautiful

    • @eddiespagetti8395
      @eddiespagetti8395 Рік тому +2

      Beautiful? It's filthy. Nice mountains Yes. Vancouver itself is china really. India to the south ( Surrey ,). Vancouver is not beautiful in any way. You must like concrete and hirise buildings . That's all vancover is. The beautiful areas are OUTSIDE of Vancouver, north van is ok. Vancouver is overrated. China owns 70% of it. Surrounding areas are beautiful. BC is beautiful , vancover Not so beautiful.

    • @billrussell1933
      @billrussell1933 Рік тому +1

      @@eddiespagetti8395 I love concrete buildings you're right! But Vancouver doesn't have enough. I was speaking about the weather more than anything. Toronto is way better for the concrete jungle!

    • @eddiespagetti8395
      @eddiespagetti8395 Рік тому +2

      @@billrussell1933 rain 9 months a year and 3 months of half ass sunshine. Vancouver weather sucks

    • @billrussell1933
      @billrussell1933 Рік тому +1

      ​@@eddiespagetti8395summertime Vancouver gets more sunshine than Toronto. But yeah rain sucks for 9 months

    • @eddiespagetti8395
      @eddiespagetti8395 Рік тому +2

      @@billrussell1933 it's great for rain lovers and dark rain days folks. July and August and September are the best months in lower mainland here. Less rainfall and lots sun. We all got used to the rain here. After 50 years or so you get used to it.

  • @Chris-xc1tm
    @Chris-xc1tm Рік тому

    Imagine getting a mortgage from CMHC like the old days. Tax revenue problems would be over with mortgage interest becoming GoC revenue.

  • @ediroma1999
    @ediroma1999 Рік тому +2

    Not sure why three of you are so surprised about how CBDC will work. It was all obvious when the pandemic has started

  • @goldgoat22
    @goldgoat22 Рік тому

    WHY WON'T ANYONE CARE ABOUT WHERE I'M GOING TO PARK!? I DON'T EVEN LIVE IN THESE NEIGHBOURHOODS!

  • @ediddysmith2500
    @ediddysmith2500 Рік тому

    If central banks puts in CBDC, we know the banks work for WEF ,because Canadians said no to CBDC in the survey.

  • @James-vj5hz
    @James-vj5hz Рік тому

    I would strip cars from inflation stats, because they're definitely luxury spending.

    • @donm2067
      @donm2067 Рік тому +1

      Ah yes, the thing that takes me to work is a luxury

    • @James-vj5hz
      @James-vj5hz Рік тому

      @@donm2067 If you're financing a car, it's discretionary spending. There's no shame in buying what you can afford. You can also take the train if that's an option.

    • @donm2067
      @donm2067 Рік тому +1

      @@James-vj5hz oh believe I buy what I can afford, it's just used cars are freaking expensive

  • @grigorkyokuto7546
    @grigorkyokuto7546 Рік тому

    good job just take another percentage off the birthrates

  • @nikdujmovic5005
    @nikdujmovic5005 Рік тому

    The CBDC is not going to be on a public distributed ledger, it won’t be a true blockchain bcz the governments will be able to choose who uses the cbdc. Some companies have private ledger tech they are offering such as Ripple but the cbdc will be permissioned and closed tech. If you don’t fit the governments idea of a model citizen, you can be cut off. It’s something we need to push back on. The positive thing is that lots of crypto projects are open and permissionless so the government will never win in the end.

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    @floydgautreau5734 Рік тому +27

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      @floydgautreau5734 Рік тому

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      @floydgautreau5734 Рік тому

      @Aaront44 THAT IS HIS USER NAME

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      @kattieshouse6554 Рік тому

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      @jordancudney4173 Рік тому

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      @myraalper7611 Рік тому

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  • @GK-wn6ur
    @GK-wn6ur Рік тому

    So no more single family homes.... so no thought about what this says about the decline in the Canadian standard of living this indicates. Let's make Vancouver the new Jakarta!

  • @monsieurfortuna9952
    @monsieurfortuna9952 Рік тому +1

    Rich is very handsome

    • @AR-pr6mt
      @AR-pr6mt Рік тому +1

      His personality is Handsomer :P

    • @monsieurfortuna9952
      @monsieurfortuna9952 Рік тому +1

      @@AR-pr6mt He is very good looking and has a very nice personality for sure

  • @somejohndoe3004
    @somejohndoe3004 Рік тому +1

    Canadians are going to love CBDCs and will see nothing wrong with them. They will find them more secure because the gvt will say so.

    • @JohnSmith-qj7hd
      @JohnSmith-qj7hd Рік тому

      All hail the entity that says it knows what’s best for me and my family wether I wanted it or not.

  • @monsieurfortuna9952
    @monsieurfortuna9952 Рік тому

    I am waiting for UBI, it will help me so much!!! universal basic income is amazing thing!!!

  • @fillmorehillmore8239
    @fillmorehillmore8239 Рік тому

    Better learn to barter and trade like the criminals do. Use CBDC to get approved goods and then unload them for what you want. Even better, create what others want and get a premium on the tyrannical banned items. Imagine trading gasoline as if its heroin...what a country.

  • @dman9416
    @dman9416 Рік тому

    Your about to see the real bottom in the fall Steve.

  • @JesseKerrFishing
    @JesseKerrFishing Рік тому +1

    🥇

  • @quixomega
    @quixomega Рік тому

    Etobicoke and Scarborough land just become more valuable.

    • @tedhext1756
      @tedhext1756 Рік тому

      The value of the land stays the same. Fiat currency value drops. Humans like Doug Ford can destroy the value with buildings and roads. We're taught everything backwards.

  • @donm2067
    @donm2067 Рік тому

    Guess alot of people never heard Corb Lund "coming down the mountain".

  • @tomaga5856
    @tomaga5856 Рік тому

    Cbdc will allow for communist rationing like we had in eastern europe post ww2. Good luck

  • @dangrather1280
    @dangrather1280 Рік тому

    Government control.

  • @michael2275
    @michael2275 Рік тому +1

    BTC >>> CBDC

  • @Daniel-lm6yf
    @Daniel-lm6yf Рік тому

    I'm a geek?

  • @RevsALot
    @RevsALot Рік тому

    Chinada

  • @GearsDemon
    @GearsDemon Рік тому +1

    11:00 they think the prices will just keep going up. Even if they upgrade/upsize, they hold onto the old property as a rental or even keep it vacant. If you keep rates elevated or raise them more + continue to make real estate investment less appealing (with policy changes) people will sell.