March 30, 2023

Biden’s Nominee For Top Bank Limiter Earned “Lenin” Award, Praised USSR’s “Equality”, And Would like to “End Banking As We Know It”

Omarova supports several progressive proposals – including the Green New Deal

President Biden’s choose for Comptroller of the Foreign currency is quite the anti-capitalist.

Cornell University law professor Saule Omarova, who proposed ‘ closing banking as we know it, ‘ and that radical change to the system would make the institution ‘ more inclusive, effective and stable, ‘  has come under fire  over her extreme views.

“ Until I came to the US, I couldn’t suppose things like gender pay distance still existed in today’s world. Say what you will about old USSR, there was no gender pay gap there. Market will not always ‘ know greatest, ‘”   Omarova tweeted in 1999, adding (after receiving harsh criticism) “ I never stated women and men were treated certainly equally in every facet of Soviet life. But people’s wages were set (by the particular state) in a gender-blind way. And all women got extremely generous maternity benefits. Each things are still a fantasy in our society! ”

What’s more, Omarova  supports several progressive proposals   – such as the Green New Deal, as well as the creation of a giant bureaucracy she dubbed the  National Investment Authority ,   which would – among other things – organize the long term economic strategy for the United States with upcoming infrastructure developments, according to the  Washington Free Beacon .   It would also manage a “ large and bold” climate agenda.

The authority would have a congressionally approved governing panel and regional offices across the nation. In addition to developing roads, links, and other traditional infrastructure tasks, the authority would fund affordable housing, public transit, and clean energy projects, as well as “ climate alter mitigation solutions, ” Omarova  told Congress   this year. -Free Beacon

As the  Wall Street Journal   editorial board notes, “ Ms. Omarova believes asset prices, pay weighing scales, capital and credit should be dictated by the federal government.   In two documents, she has advocated expanding the particular Federal Reserve’s mandate to incorporate the price levels of “ systemically important financial assets” along with worker wages. As they prefer to say at the modern college, from each according to the girl ability to each according to her needs. ”

In a recent paper “ The Householder’s Ledger, ”   she proposed that the Federal government Reserve take over consumer financial institution deposits, “ effectively ‘ end banking, ‘ as you may know it, ” and turn into “ the ultimate public platform for generating, modulating, plus allocating financial resources in a contemporary economy. ”   She’d also like the Oughout. S. to create a central bank digital currency— as Venezuela and China are doing — to “ redesign our financial system & turn Fed’s balance sheet right into a true ‘ People’s Ledger, ‘” she tweeted this summer. What could possibly go wrong? -WSJ

Omarova also wants to produce a “ Public Interest Council” of “ highly paid” academics  who would wield subpoena power over regulatory agencies, including the Fed .

In her earlier days, Omarova worked well in the Bush administration Treasury Department.

As  The Washington Free Beacon notes , Omarova’s policies have won her accolades from prominent progressive lawmakers and special curiosity groups. Sen. Elizabeth Warren (D., Mass. ) said Omarova’s nomination was “ tremendous news. ” The Sierra Club said Omarova would help the Office of the Comptroller of the Currency combat “ climate chaos” and set up “ guardrails against Wall Street’s risky precious fuel investments. ”

Interestingly,   The Wall Street Journal reports   that  Biden nominated Ms. Omarova within the objections of Treasury Secretary Janet Yellen , to whom the comptroller reports. One theory they recommend for this bizarre nomination is that Mr. Biden is trying to  appease progressives as they plans to reappoint Jerome Powell as Fed leader .

Watch what Jen Psaki actually said these days at a press briefing towards the American people.

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