Good morning, It’s Friday, September 20th. In today’s news, The Bank of Canada puts CBDC plans on hold, New Liberal adviser Mark Carney seeks billions in taxpayer dollars for his financial firm, Unrest in the Middle East continues with airstrikes, an assassination attempt and ‘declaration of war,’ Alberta considers a per child tax relief system, and much more.
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Bank of Canada Puts CBDC Plans on Hold
After several years of research and public consultations, the Bank of Canada is shelving its plans for a digital Canadian dollar, shifting its focus away from creating a central bank digital currency (CBDC). The project, which began in 2017, was initially driven by the rapid digitalization of payments and declining cash use in Canada. A public consultation in 2022 gauged interest, and a recent staff discussion paper highlighted reasons for developing a digital currency, including maintaining monetary sovereignty and financial stability.
Despite these findings, the Bank of Canada is now less inclined to pursue the digital “Loonie.” In a statement, the central bank said it had conducted significant research into the economic and technological impacts of a digital dollar, but will now prioritize preparing for the ongoing evolution of payment systems globally, focusing on policy research and analysis rather than actively developing a CBDC.
Globally, more than 130 countries are considering their own digital currencies, with only the Bahamas, Jamaica, and Nigeria having fully launched them. Experts like Karl Schamotta, a strategist with Corpay, argue that while cryptocurrency has sparked innovation, the Bank of Canada may have paused the project to preserve the safety and stability of a monetary system that has evolved over centuries.
In the meantime, the central bank will continue to monitor digital payment trends but sees no immediate need for a digital dollar in Canada. More
More Liberal Funny Business: Carney’s Firm Seeks Billions as Trudeau’s New Advisor
Mark Carney, recently appointed by Prime Minister Justin Trudeau as a finance advisor, is facing criticism from Conservatives after reports emerged that Brookfield, the investment firm Carney chairs, is negotiating to manage tens of billions in taxpayer and pension funds. According to a report by The Logic, Brookfield is seeking $10 billion from taxpayers, alongside $36 billion from Canada's largest pension funds, known as the Maple 8, to invest domestically.
The timing of this request has raised concerns, as it comes just days after Carney’s appointment. Conservatives are accusing the Liberals of corruption, arguing that Carney’s position as both Trudeau’s advisor and Brookfield’s chair creates a clear conflict of interest. The Conservative Party statement criticized the government for allowing Carney to influence economic policy while his firm lobbies for billions in public funds.
They also pointed out that Carney made nearly $1 million from Brookfield in 2023, the same year the firm benefited from federal investments in Entropy Inc., a company backed by the Canada Growth Fund, a Crown corporation established by Finance Minister Chrystia Freeland. The Conservatives argue this demonstrates an unethical overlap between Carney's public role and his private financial interests.
Additionally, Carney has not registered as a lobbyist, which the Conservatives claim shields him from further scrutiny. The report also highlights that Brookfield began lobbying the government after Carney’s former colleague from the Bank of Canada, Stephan Poloz, was appointed to lead a task force aimed at directing pension funds toward domestic investments.
Further complicating matters, Carney's close connections are drawing more criticism. The Conservatives referenced a $2.14 billion taxpayer loan to Telesat, whose CEO is reportedly a close friend of Carney. They argue that the Liberals rejected a more cost-effective proposal from Elon Musk's Starlink to provide broadband services for rural Canada, favouring Telesat instead. The Liberals, however, defend the Telesat deal, citing the creation of 2,000 Canadian jobs and arguing that it is preferable to giving money to "foreign billionaires."
Despite the serious allegations, neither Brookfield, Trudeau’s office nor Freeland has responded to requests for comment. The situation has deepened concerns about ethical governance and transparency within the Trudeau government. More
Middle East Unrest: Israeli Airstrikes, ‘Declaration of War,’ Assassination Attempt
Israel Airstrikes Hit Multiple Targets in Lebanon as Fears of Wider War Grow
Israel conducted airstrikes on several targets in southern Lebanon as its conflict with Hezbollah intensified. Hezbollah retaliated by firing projectiles into northern Israel, hitting military and civilian areas. This escalation follows a series of pager and radio explosions that killed several Hezbollah members. Israeli leaders are preparing for the possibility of a wider conflict, moving elite military units to the northern front. Public sentiment is increasingly in favor of a stronger offensive, with 67% of Israelis supporting a harsher response against Hezbollah. More
Hezbollah Leader Says Mass Pager Attacks Are a ‘Declaration of War’
Hezbollah leader Hassan Nasrallah condemned recent attacks on the group's communication devices, which killed at least 37 members and wounded over 3,000. In a televised speech, Nasrallah labeled the attacks a "declaration of war" by Israel, claiming they had crossed all red lines, but vowed that Hezbollah remains steadfast in its support for Palestinians in Gaza. While he acknowledged the damage caused, he emphasized that the group's command and infrastructure remain intact. Nasrallah did not specify how Hezbollah would retaliate but indicated that their fight against Israel would continue. More
Israeli Police Thwarted Iranian Assassination Attempt on Netanyahu
Israeli police, along with the Shin Bet, thwarted an Iranian assassination plot targeting Israeli Prime Minister Benjamin Netanyahu and other top officials. An Israeli citizen, who had previously lived in Turkey, was arrested for collaborating with Iranian officials. The suspect had been tasked with photographing sensitive locations and coordinating efforts to bring money and weapons into Israel. Despite requesting $1 million for the plots, the suspect was given just over $5,000. The plot was reportedly in retaliation for the July death of Hamas leader Ismail Haniyeh. More
Alberta Considers Per Child Tax Relief
Premier Danielle Smith is considering new tax breaks for Albertan parents to boost population growth from within the province. In an interview with Keean Bexte from The Counter Signal, Smith mentioned looking into policies inspired by Hungary's system, where women receive a 25% personal income tax reduction for each child, with full exemption after four children. While Alberta hasn't explored this specific model, Smith said her finance team is considering other family-friendly tax relief options, such as rebates or personal exemptions for each child.
Smith also noted Alberta’s existing benefits for families, including a generous basic personal exemption and spousal exemption for single-income families. More
First People Sentenced Under Hong Kong's 'Repressive' National Security Law
A Hong Kong court sentenced two men under the city's new national security law, including Chu Kai-pong, who received 14 months in prison for wearing a T-shirt with a protest slogan. Chu's shirt, which read "Liberate Hong Kong, revolution of our times," was deemed seditious. Another man, Chung Man-kit, was sentenced to 10 months for writing pro-independence messages on bus seats. Critics argue the law, introduced in March, stifles free expression. Authorities claim it's necessary for maintaining stability. Amnesty International condemned the sentences, calling the law repressive and harmful to freedoms.
US Navy Releases Plan to Counter Chinese Military Threat
The US Navy released its Navigation Plan for America’s Warfighting Navy, outlining strategies to counter the growing threat of China's military by 2027. The plan focuses on readiness for potential conflict with the People's Republic of China and strengthening technological advancements through initiatives like Project 33. The deadline aligns with Chinese President Xi Jinping's goal to prepare the PLA for a possible invasion of Taiwan by 2030. The report highlights China's multifaceted threat, including military, economic, and nuclear expansion, while also acknowledging Russia's ongoing relevance in the region. More
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Dutch Government Seeks Opt-out From EU Asylum Rules
Dutch Asylum and Migration Minister Marjolein Faber, from the far-right Freedom Party (PVV), has requested an EU migration "opt-out" for the Netherlands, aiming to take back control of its asylum policy. However, the European Commission dismissed the possibility of immediate changes, stating EU migration rules still bind the country. While Denmark has secured such an agreement, experts warn that a Dutch opt-out would require unanimous EU member state approval, which is unlikely. Prime Minister Dick Schoof cited an "asylum crisis" as the reason for the country's stricter immigration policies. More
Report: Sexual Assaults, Robberies Surging in Canadian Cities
A new report by the Macdonald Laurier Institute reveals a surge in sexual assaults and robberies across Canada's major cities, highlighting growing safety concerns. Sexual assaults increased in every city studied, with the Greater Toronto Area seeing rates almost double in York Region from 2016 to 2023. Robberies, particularly in Winnipeg, have also spiked, with the city's rate of 305.9 per 100,000 nearly tripling other cities. The report calls for tougher sentencing for violent crimes, noting that recent judicial trends have relaxed mandatory minimums. More
Elon Musk’s X and Starlink Face Nearly $1 Million in Daily Fines for Ban Evasion in Brazil
Elon Musk's social media platform, X (formerly Twitter), faces daily fines of about $920,000 in Brazil for allegedly evading a ban imposed by the country’s supreme court. The country's supreme court has imposed "joint liability" on Starlink alongside X, meaning that Starlink is also being held responsible for helping users access the platform.
The court suspended X for failing to comply with Brazilian laws requiring social media companies to remove what they deemed ‘harmful content’ and have local legal representation. X's recent use of dynamic IP addresses allowed users to bypass the ban temporarily. Musk continues to criticize Brazil's chief justice, Alexandre de Moraes. More
EU Regulators Move to Force Apple to Open Up Operating System to Rival Technologies
The European Union is pushing Apple to open its iPhone and iPad operating systems to rival technologies under the Digital Markets Act (DMA). The EU has launched two proceedings to ensure Apple provides "effective interoperability" with third-party devices like smartwatches and headphones. Apple could face fines of up to 10% of its global revenue if it doesn't comply. Apple expressed concerns about security risks but pledged to work with the EU. The DMA aims to prevent tech giants from dominating digital markets and promote competition. More
BlackRock Warns of US Debt Crisis, Boosting Bitcoin’s Appeal as a Hedge
Bitcoin surged past $62,000 after the Federal Reserve cut interest rates by 0.5%, sparking predictions of a major crypto market rally. BlackRock highlighted growing concerns over the US's $35 trillion debt, driving institutional interest in Bitcoin as a hedge against economic instability. Despite previous skepticism, BlackRock now sees Bitcoin as "digital gold" and a legitimate financial instrument. Analysts expect Bitcoin's price to rise as Wall Street embraces it and the Fed's dovish shift boosts the market. More
Exoplanets Could Be Hiding Their Atmospheres
Most exoplanets discovered orbit red dwarf stars, which make up about 75% of the Milky Way. This means many potentially habitable worlds are likely to orbit these stars, but they face challenges like tidal locking—where one side of the planet always faces the star, causing extreme temperature differences.
However, a thick, water-rich atmosphere could help moderate these temperatures, making such planets potentially habitable. A recent study reveals that detecting atmospheres on tidally locked planets is more complex than previously thought. While astronomers typically measure temperature differences between the day and night sides, thick clouds on the dark side can lead to misleading readings, making a planet appear airless despite having an atmosphere.
These findings suggest that more tidally locked exoplanets could be habitable than initially believed, emphasizing the need for improved observational techniques to understand the potential for life on these distant worlds. More
Starlink's New Satellites Emit 30x More Radio Interference, Drowning Cosmic Signals
SpaceX's second-gen Starlink satellites, while less reflective, are emitting up to 32 times more unintended radio waves than their predecessors, causing significant interference for radio astronomers. A study found that the electromagnetic radiation (UEMR) from these satellites is millions of times stronger than the faintest cosmic sources, disrupting crucial low-frequency radio astronomy. Researchers are urging SpaceX to address the issue, though there are currently no international regulations controlling such emissions, leaving astronomers reliant on the company's goodwill to fix the problem. More
Shohei Ohtani Makes History, Reaches 50-50 With One of the Greatest Games Ever
Shohei Ohtani has made history by becoming the first player to reach the 50-50 club, achieving 50 home runs and 50 stolen bases in a single MLB season. He accomplished this remarkable feat in a single game against the Miami Marlins, where he hit three home runs, stole two bases, and posted an incredible 10 RBIs, contributing to a 20-4 victory for the Los Angeles Dodgers.
Ohtani’s performance not only clinched his first playoff appearance but also solidified his status as a favorite for the MVP award, potentially joining Frank Robinson as the only player to win MVP in both leagues. Remarkably, he achieved this milestone while recovering from major surgery and not pitching this season. More
LIV Golfers Cleared for US Ryder Cup Team and US PGA Championship
LIV Golf players will be allowed to participate in the PGA Championship and the US Ryder Cup team, according to an announcement from the PGA of America. This decision ensures the strongest competition in both events, allowing any LIV player to qualify for the PGA Championship and for the Ryder Cup team based on points or captain's picks. Notably, Brooks Koepka and Bryson DeChambeau, both of whom are affiliated with LIV, have already made significant impacts, with Koepka competing in the 2023 Ryder Cup and DeChambeau currently third on the Ryder Cup points list. More
Theater Owners Plan to Spend $2.2 Billion to Modernize and Upgrade Moviegoing Experience
The eight largest theater chains in the US and Canada announced plans to invest over $2.2 billion to modernize more than 21,000 screens over the next three years. This upgrade will enhance sound, projection, and dining experiences, and in some locations, introduce attractions like pickleball and ziplines. Michael O’Leary, president and CEO of the National Association of Theatre Owners, expressed optimism about theater attendance returning post-pandemic. More
Canadian Military Vet Saved by His Dog Who Jumped on His Chest so Hard During Heart Attack That it Left Paw Prints - In what could have been the final moments of Darren Cropper’s life, a miracle unfolded. He had a massive heart attack. But his one-year-old puppy, Bear, saved his life by jumping on his chest. Later, paramedics would tell Cropper that Bear must have been leaping up and down for hours. And that kept him alive. More
Huge Python grabs Thai Woman in Her Kitchen, Squeezes Her Two Hours Before She Was Freed - A 64-year-old woman in Thailand was attacked by a large python while preparing to do her evening dishes. Despite her attempts to free herself by grabbing its head, the python tightened its grip. After about an hour and a half of calling for help, a neighbor heard her cries and alerted authorities. More
On This Day in 1519 The Spanish expedition led by Portuguese navigator Ferdinand Magellan sets off on the first successful circumnavigation of the globe (Magellan was killed en route).