“No More Private Bank Deposits” — Biden’s Communist Treasury Nominee Wants All Bank Accounts To Be Controlled By The Fed

(TeaParty.org Exclusive) – The radical left is working towards the New World Order which will involve a one world government, central banking and digital currency.

This is the plan. It’s no secret and if you’re still in denial or just don’t believe that’s the direction we’re heading in, here’s your sign.

Biden’s nominee to be one of the top banking regulators in the US, Saule Omarova, has a plan to centralize banking in the US and give the federal government unlimited control over the economy.

This is just the next step in the plan to make all currency digital and once currency is digital, the government will really be able to control us all.

If Saule Omarova has her way, the US will do away with private banking and the Federal Reserve would serve as the only bank for Americans.

Her goal if she becomes the comptroller of the currency at the Department of Treasury, as outlined in a recent paper, is to abolish private banking and force every American to set up a bank account at the Fed where authorities would be free to inflate the currency by issuing interest on the deposits or crediting the accounts directly.

“Imagine what it would be like instead of just a public option for deposit banking, this would be actually the full transition. In other words, there would be no more private bank deposit accounts and all of the deposit accounts will be held directly at the fed,” Omarova said during recent remarks. “How is it politically feasible for the central bank to take money away from people’s accounts?”

What’s more, the Fed could slash interest rates to counter inflation or, if all else fails, directly take away peoples’ money as needed.

That’s not the end of it, however. As if that doesn’t sound bad enough, her plan gets worse.

Omarova wants the Fed to build a stock portfolio mirroring the broader market and short stocks it perceives as inflated in value or “go long” on those it sees undervalued. Furthermore, the government would be given special voting rights as though it were a major shareholder in every publicly traded company, which would give them the power to appoint and fire executives at will.

We’re talking socialism on steroids here. Just the first part of this demented plan would essentially give the federal government the ability to completely control the economy with almost unlimited discretion. What could possibly go wrong?

The federal government would have complete control of all of our money and they would also be the ones to decide who gets any kind of loans including mortgages, car loans, student loans and all other loan types.

If you are a good, lock-step sycophant for the federal government, you’ll get the loans but if not and your social credit score is too low, no loans for you. As a matter of fact, no money for you at all.

“If you have all of the deposits in the government bank, then all of the loans, or at least a very high percentage of the loans, are going to be there as well,” said Alex Pollock, former head of the Federal Home Loan Bank of Chicago and financial research executive at the Treasury who is currently a senior fellow at the classical liberal Mises Institute.

If all banking is controlled by the Fed, that means the Fed gets to make all decisions affecting the economy and our personal lives.

“If you’re politically correct, well, then you can get a loan; if you’re not, you can’t,” Pollock told The Epoch Times about the implications.

This is an insane plan and one that is necessary if the globalists are to have their way in establishing the New World Order and you can bet it’s all political.

“She wants government to control the allocation of capital in the economy, which is a recipe for politicizing everything,” said David Burton, financial regulation expert at the conservative Heritage Foundation.

Pollock concurred: “It would become purely political.”

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