Saule Omarova, who has said she wants to “end banking as we know it,” will be tapped by the Biden admin to run the Office of the Comptroller of the Currency as soon as this week. She received her undergraduate degree at Moscow State University and immigrated to the US in 1991, two years after graduating in Moscow.
It’s a barely mentioned but critical appointment.
The Hill opinion contributor Kristen Tate writes, it signals a “direction of poor fiscal policy, even bleeding into the nominally non-political Federal Reserve, and the various ways the federal government could gain control of Americans’ banking and spending habits.”
The Feds were supposed to shield us from the government but they actually have become a repository of bad ideas. It is also becoming a rogue fourth branch of government.
WE MIGHT END UP WITH ONE BANK — THE OPAQUE FEDERAL RESERVE
“The Cornell Law School professor is sharply anti-Wall Street – in place of stricter oversight, she also desires private sector banking to be the purview of the Federal Reserve,” Tate writes.
It’s a huge step towards central planning and will possibly transform the banking system making the Reserve our only bank.
Such a massive transformation would be accomplished by replacing consumer deposits into a new digital dollar, held by the Fed. AND, in her own words, “radically reshaping the basic architecture and dynamics of modern finance,” according to Tate.
She wants the government to control the Reserve which would take over private banking. The government would know everything the common man does in relation to banking and they could tax it ad infinitum.
It could ban funds related to cryptocurrency, bar people who disagree with them from access to their money, and they could repeat and magnify errors of the past such as the Community Reinvestment Act, when trillions of dollars were poured into subprime and other risky mortgages to balance racial and economic inequalities.
The socialist/communist organization, The American Prospect, claims the fears are unwarranted. According to them, Wall Street is just worried about their derivative business.
The nominee has already said she wants to move consumer banking to the Federal Reserve from private institutions, as Bloomberg reports.
The Kazakh-American nominee loves regulations too much.
Wall Street supports the Democrats so what’s in it for them? This isn’t. Perhaps she won’t make it through the nomination process.
Her big pluses are she’s Kazakh, a socialist, and a woman, both of which are irrelevant but that’s what Democrats are making important thanks to their dangerous ideology.
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The dollar has to be wiped out in order for equality of results for all.
Those BRICS nations will let traitorgov do massive damage before they pounce.
By then the sheeple will be ready for new management.
If you want to destroy Money then monitor every transaction. People will move to Cash, then Barter and possibly local Digital currencies for transactions. Digital currencies by design are as untraceable as is cash. The only way the Government can regulate Crypto is by conversion into cash. Do away with conversion and it will become very hard to track Crypto which scares the IRS. As Crypto becomes more secure it will take on the Status of precious metals. An interesting concept here in the South is that when the Dollar crashes, bullets will be the currency of choice, since they can help protect your property and bag game.
One of the first things the New Congress in 2023 must do is repeal the 16th Amendment. No Government should have absolute taxing authority. Government should have very limited taxing authority and never be able to confiscate something you own without a very deliberate Court process. Nothing should be taxed twice. Property taxes should be abolished. A property tax just means that you are renting your property from the Government. Government should provide real services and be paid for them. It is not the role of Government in a free society to redistribute wealth. When a government wants to know all your transactions, it will use taxation to control your behavior which they are already doing with tax breaks now. We should make that Un-Consitutional. The People tell Government what to do, the Government should have no power to influence the People’s behavior.