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Biden Nominee Calls to Eliminate All ‘Private Bank Accounts’

Nov 15, 2021

From an article in Breitbart News:

QUOTE: 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. [Emphasis mine—JWB]

Omarova spoke at the Law and Political Economy (LPE) Project’s “Law & Political Economy: Democracy Beyond Neoliberalism” conference in March.


Saule Omarova, born and educated in communist U.S.S.R. province of Khazakstan

… 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”…

Republicans have already moved to oppose Omarova’s nomination. Sen. Steve Daines (R-MT) said Omarova’s support of Communist ideals” disqualifies her for the position. ENDQUOTE 

The full Breitbart News article and (boring) 1:28:09 video of Omarova explaining her paper is here.

Elsewhere, Steve Guest, Special Communications Advisor for Sen. Ted Cruz, tweeted on November 9, 2021, that Omarova had also remarked concerning the oil, coal and gas industries: “We want them to go bankrupt if we want to tackle climate change.”

Category: Current Events