UPDATE: Biden’s Banking Nominee Calls to Eliminate All ‘Private Bank Accounts’

Biden’s Banking Nominee Calls to Eliminate All ‘Private Bank Accounts’

Saule Omarova, President Joe Biden’s nominee for the Office of the Comptroller of the Currency (OCC), called during a March 2021 virtual conference to eliminate all private bank accounts and deposits.

Omarova spoke at the Law and Political Economy (LPE) Project’s “Law & Political Economy: Democracy Beyond Neoliberalism” conference in March.

Omarova discussed one of her papers, “The People’s Ledger How to Democratize Money and Finance the Economy,” which would help “redesign” the financial system and make the economy “more equitable for everyone.”

She said it would change the “private-public power balance” and democratize finance to a more systemic level.

During her explanation of her paper, she said that the Federal Reserve, the nation’s central bank, can only use “indirect levers” to “induce private banks to increase their lending.”

Her paper calls for eliminating all banks and transferring all bank deposits to “FedAccounts” at the Federal Reserve.

During her conference speech, she said, “There will be no more private bank accounts, and all of the deposit accounts will be held directly at the Fed”.

Omarova said her proposal would give the Fed more “proactive” monetary policy tools, such as “helicopter money.” She also pondered how the Federal Reserve could “take money” from Americans during an inflationary environment.

Update: Reports coming that this commie will get rejected.

Centrist Dems sink Biden’s nominee for top bank regulator

In phone call on Wednesday, Sens. Jon Tester (D-Mont.) Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio) — the panel’s chairman — of their opposition.

They’re joined in opposing her by Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.).

7 Likes

Batshit fucking crazy

30 Likes

We are royally fucked as a country.

28 Likes

One must master the art of the jew stash in a Democrat controlled government

12 Likes

What a commie piece of shit.

34 Likes

We should know in the next five years. It is going to be one hell of a story.

8 Likes

As if this is a big shocker…

Everything the administration does is a joke.

Biden’s master’s are trolling us good.

11 Likes

image

12 Likes

Expect anything that’s detrimental to America to pass / be supported these people running the country now are completely against it…Libs/Leftists

3 Likes

How can they put that cunt up for a job like that?

6 Likes

Waiting for the pundit to tell everyone that we’re misconstruing this, without telling us how we’re misconstruing this.

5 Likes

Equality and inclusion, bro.

2 Likes

This seems like a good idea, these for profit banks are always screwing us. They are backed by the fed anyways. Just cut out the middle man, Id be much more confortable with the government holding my money.

1 Like

I hope all the worst possible things in life happen to her.

11 Likes

All of the shit we have going through with Covid and we had go through with Homeland Defense post 9-11 is a reaction to fear that they have created. So ask yourself this, what will be the next thing they do to create enough fear to get the people to beg for “security” with their banking and finances?

3 Likes

This is where crypto will come in. Everyone will have a unique ID tied to their crypto wallets. You won’t be able to do anything without your valid crypto ID, which will be tied to your bank account and your , vaccine/social credit passport.

6 Likes

giphy

19 Likes

Why Im stalking up on shiba coin!

1 Like

No problem.

We’ll just bend over and take it up the ass like we always do.

U S A U S A!

2 Likes

Because she has a different political belief than you? Sound like a right wing extremist.