{"id":245698,"date":"2021-11-17T08:45:06","date_gmt":"2021-11-17T08:45:06","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=245698"},"modified":"2021-11-18T07:05:05","modified_gmt":"2021-11-18T07:05:05","slug":"bidens-banking-nominee-calls-to-eliminate-all-private-bank-accounts","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=245698","title":{"rendered":"Biden\u2019s Banking Nominee Calls to Eliminate All \u201cPrivate Bank Accounts\u201d"},"content":{"rendered":"

Biden\u2019s Treasury nominee Omarova was member of a Marxist Facebook group as recently as 2019<\/a><\/p>\n

By Sean Moran \u2013 Activist Post Nov 16, 2021<\/strong><\/h1>\n

Saule Omarova, President Joe Biden\u2019s 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.<\/p>\n

Omarova spoke at the Law and Political Economy (LPE) Project\u2019s \u201cLaw & Political Economy: Democracy Beyond Neoliberalism\u201d conference in March.<\/p>\n

Omarova discussed one of her papers, \u201cThe People\u2019s Ledger How to Democratize Money and Finance the Economy,\u201d which would\u00a0help<\/a>\u00a0\u201credesign\u201d the financial system and make the economy \u201cmore equitable for everyone.\u201d<\/p>\n

She said it would change the \u201cprivate-public power balance\u201d and democratize finance to a more systemic level.<\/p>\n

During her explanation of her paper, she said that the Federal Reserve, the nation\u2019s central bank, can only use \u201cindirect levers\u201d to \u201cinduce private banks to increase their lending.\u201d<\/p>\n

Her paper calls for eliminating all banks and transferring all bank deposits to \u201cFedAccounts\u201d at the Federal Reserve.<\/p>\n

During her conference speech, she said, \u201cThere will be no more private bank accounts, and all of the deposit accounts will be held directly at the Fed\u201d:<\/p>\n