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.

By Sean Moran – Activist Post Nov 16, 2021

Biden’s Treasury nominee Omarova was member of a Marxist Facebook group as recently as 2019

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.

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Source: Breitbart via Truth Unmuted

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Martin Harris

I have a lovely partner and 3 very active youngsters. We live in the earthquake ravaged Eastern Suburbs of Christchurch, New Zealand. I began commenting/posting on Uncensored back in early 2012 looking for discussion and answers on the cause and agendas relating to our quakes. I have always maintained an interest in ancient mysteries, UFOs, hidden agendas, geoengineering and secret societies and keep a close eye on current world events. Since 2013 I have been an active member of theCONTrail.com community, being granted admin status and publishing many blogs and discussion threads. At this time I'm now helping out with admin and moderation duties here at Uncensored where my online "life" began.

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