Posted on 11/13/2021 11:57:03 AM PST by Silentgypsy
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 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 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.
(Excerpt) Read more at breitbart.com ...
You’ve been spying on us.
You bring up a great point. I couldn’t imagine why they were being so reckless and premature. They’re supposed to be nudging us gently so that we’ll stay in the pot until the water boils.
The Fed managing everyone’s bank account is almost as bad as Congress writing a budget.
Rest assured, Teresa Ghilarducci’s name will surface in this ckuster f**k as well.
What does the runner-up look like
***********************************************************
Teresa Ghilarducci!!
What did you think she was really talking about?
From each according to his means, to each according to his needs.
I thought I was the only person that knew that !!!
I’m not an expert at this level of finance, institutions, and
the dynamics of the Fed’s involvement.
I can only give a first impression from the buzz words she
tosses in. HIGHLY SUSPECT!
What I picked up on was a lot of Leftist jargon that was
making it sound like it would be more equitable for everyone
under her new system.
She managed to get ‘democratization’ in there. I take that
to mean this is social justice warrior adjacent, gobble de
goop nonsense, that will seriously screw with real world
financial sanity.
In her dreams, we don’t have local bank accounts any longer.
The Fed would act as our bank. She managed to get crypto
coin government style in there too.
This is essentially Pandora’s Box. She wants to toss
everything up in the air and tell us later on (alla Nancy
Pelosi) how it works.
Hand-cuff her to her bed post and forged aboud it.
I suspect this is where we are headed. I have no idea how
bad it will be, but if it’s Leftist, and it undoubtedly is,
it could easily be catastrophic.
Thanks. Great minds and all that... Smile...
She was pretty clear in her manifesto:
“issuance of general-purpose CBDC (the “digital dollar”) and concurrent migration of all transaction deposit accounts from private banks to the Federal Reserve. Focusing on the ultimate “end-state” whereby central bank accounts fully replace—rather than uneasily co-exist with—private bank deposits”
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735
She goes very in-depth, including describing “community banking institutions” (“CBIs”) that would operate physical branches and ATMs on the Fed’s behalf and receive a fee for their services, but your money remains in the central bank, as Central Bank Digital Currency. Basically, Branch Outlets of the US Central Bank.
On the video she suggested that private banks would still exist as “lenders,” but then if the fed is really in control why would we need private banks, when you could just go to a government/fed website? Sounds like some kind of double talk, maybe with the more innocent sounding comments for hearings and the media, but when talking to those in power she would tell the truth.
My ATM only allows you to inset your card partway, not entirely into the machine.
If you put it in all the way you might not have a way to get it back. Unless it wanted to eject it.
My point appears to have gone right over your head, my good sir.
Good night!🙂
She (or her handlers) have made several edits to the original paper she wrote in 2020, particularly in October after she was nominated. Much of the language was smoothed out to sound less threatening and less “Soviet”. I think she will give coached answers, like most nominees. Merrick Garland is a good example of testifying one way and acting another.
Wasn't it Pelosi or somebody saying something like “Why do the Republicans have to be so difficult? Just vote ‘yes’ on the bill so we can get things done!?”
And you know she's thinking “Well - if it was just me in control, it would be so much simpler. Instead we have to take votes and stuff.”
Oh, sorry, not clear. He was a child/teen during the Depression! The cash stashed was later on. I only found about it in the late ‘70s. Hmm - Carter years.
But 10k was still a bunch back then.
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