NPR: The president’s pick to become a top banking regulator doesn’t usually attract a lot of interest, but this time is different.
President Biden has nominated Saule Omarova, a law professor at Cornell University, to be the next head of the Office of the Comptroller of the Currency (OCC), which is responsible for regulating the assets held by more than 1,000 banks.
At Omarova’s confirmation hearing on Thursday, many Democrats on the Senate Banking Committee lined up in support of her nomination.
Progressives have applauded her nomination, seeing in Omarova a person who would bring a tougher approach to banks at an agency that has been criticized for being too friendly with the sector. But there was no indication any Republican on the committee will back her. Omarova’s critics say she is a “radical” nominee who wants to nationalize banking.
Omarova has attracted unusually personal criticism. At the hearing, Sen. John Kennedy (R-La.) brought up her childhood in the former Soviet Union, and Republicans cited an academic paper she recently wrote proposing a reinvention of the U.S. financial system (The Wall Street Journal’s conservative editorial board).
“Saule is widely regarded as one of the top financial regulatory scholars in the world,” says Jeremy Kress, an assistant professor of business law at the University of Michigan. “Whether you agree with her, or disagree with her, you can’t have a complete debate about current topics in U.S. banking law and U.S. financial regulation without taking into account what Saule has written on the topic.”
But her research has come under withering attack by some critics.
In one paper, Omarova suggests the federal government could offer a bank account to every American through the Federal Reserve. Read More …
Opinion: Of course they could. In order to pave the road to complete global government control of commerce as prophesied in Revelation 13:16-17, the US dollar, the world’s reserve currency, will first need to be crushed …
The 20th-21st centuries have seen three examples of currency collapse leading to hyperinflation as a result of Socialist/Marxist economic policy:
- Germany 1931-33
- Cuba 1959-1960
- Venezuela 2009-10
In my last interview with our late friend and Bible teacher Dr. Jimmy DeYoung, Sr., he asked me about digital currencies and specifically the advent of China’s digital yuan:
“Me: China’s digital yuan is basically adding another element to its toolbox of surveilling and controlling its 1.4 billion people. It’s no secret that China is already known as the country in the world with the most pervasive surveillance, with over 500,000,000 cameras and the infamous Social Credit Score, but now with the creation of a digital currency the communist government can be confident that hardly any transaction will go unregistered.
Now, once the digital yuan becomes the only form of currency, the Chinese government will be a model for tyrannical governments around the world.”
So the answer as to how the US dollar, the world’s only reserve currency, collapses into obscurity, a few steps will need to take place:
Paper currency must give way to cryptocurrency. Cryptocurrency will give way to central bank digital currency, hyperinflation will overtake western economies, and Saule Omarova’s authoritarian economy, or one still to come, will rise.
Hear my interview with Jimmy, Sr. HERE.
In a subsequent interview with Jimmy, Jr., we discussed events that could give the Fed the excuse to issue a central bank digital currency which would completely control the nation’s money supply, taking full control away from Congress.
Listen to the interview HERE. My segment starts @ 40:00 minutes in.