A top Biden Administration Treasury nominee wants to model America’s economic system after the Chinese Communist Party’s (CCP) centralized control platform.
Saule Omarova, the Biden Administration’s pick for comptroller of the currency, recently praised the Chinese government’s monetary system for its “shining example” of “smart pro-innovation policy.” Yes, she couched the language in “critics of” format, but it’s clear, given her background and published work, that this is her personal view.
Critics of strict financial/fintech regulation have long pointed to China as a shining example of smart pro-innovation policy. I now agree that China's experience offers some valuable lessons for the US. https://t.co/jSQ1GjDPcm
— Saule Omarova (@STOmarova) January 22, 2021
Omarova is a true radical, according to her published work and biographical background. Educated at Moscow State University when it was under Soviet control, she wrote her dissertation on Karl Marx and communist economics, but the university has reportedly helped bury her thesis from public view. Moreover, Omarova has removed any reference to this work in her Cornell Law School CV.
The Biden Treasury nominee has long advocated for a Central Bank Digital Currency (CBDC) system that allows the federal government to reward what it deems “productive” behavior. The CBDC system, the Western version of China’s Corporate Social Credit System (CSCS), grants the government the ability to digitally and instantly remove the wealth of any non-compliant citizen.
The CBDC debate still misses what's really at stake here. CBDC isn't just about payments; it can be designed as a public platform for allocating credit to productive (vs. speculative) economic enterprise. Here's one way to envision such a systemic shift: https://t.co/k0e4OehG31. https://t.co/Ia7HxuoimN
— Saule Omarova (@STOmarova) June 28, 2021
Omarova influential academic paper, “The People’s Ledger,” (the communist jargon is no coincidence) is her seminal work on the subject matter. It drives home the idea that there must be no separation between the government and its ability to control a country’s monetary system.
Proposal by Biden’s Treasury nominee Saule Omarova:
"There will be no more private bank deposit accounts and all of the deposit accounts will be held directly at the fed" pic.twitter.com/ojQviX74Bz
— Jewish Deplorable (@TrumpJew2) November 12, 2021
In recent weeks, she has exposed her economic extremism for the world to see. Omarova has stated her intent to destroy massive American industries to accommodate the Green-Red eco-radical agenda.
— New York Post (@nypost) November 11, 2021
Given the declining state of the American economy, there remains a fascinating debate over whether the Biden Administration is purposely nuking our economic system.
I remain uncommitted to a full embrace of either position. In my view, it’s probably a combination of the Idiocracy and leftist ideologues at work. I wrote about it in detail on Friday.
Article cross-posted from Jordan’s Substack.
One Sick Day Proves We Need More Voices in Truthful Media
On October 19, I was sick. It crossed my mind that I had finally gotten the ‘rona, but my wife’s cream of chicken soup and a few extra hours of sleep into mid-afternoon had be back up and running after a sleepless night before.
When I finally stumbled over to my computer in the evening, I was met with a deluge of concern from readers. They asked what had happened as only one article had been posted that day. Generally, we post between 10-20 daily between all of the sites, not included curated and aggregated content. Seeing that we’d only posted my super-early morning article before taking the rest of the day off had readers assuming the worst.
We have a wonderful and talented group of writers who volunteer their time for the sites and their readers. Sharing their amazing perspectives has always been a blessing to us because we cannot afford to hire anyone at this time. But having great writers is meaningless if we don’t have great editors, or at least one additional. My wife helps me read and edit stories from time to time, but I’m a one-man show when it comes to getting the stories posted.
Whenever I highlight our desperate need for donations, I note that we do not receive money from Google ads even though most in conservative media are beholden. I often ambiguously note that the money donated will help us grow. Today, I’m highlighting a specific need. We must get an editor to help take some of the load and to expand on our mission of spreading the truth to the world. One sick day proved that.
The great news is that there is no shortage of people who CAN help. I am emailed variations of resumes every week by people who are much smarter than I am. As much as I’d love to hire some of them, we simply cannot. That takes money and as blessed as we’ve been to receive donations and collect ad money (though not from Google or Facebook), we have still fallen short.
Those who have the means, PLEASE consider donating. We have the standard Giving Fuel option and people can donate through PayPal. We are also diving into what we believe is extremely disruptive technology at LetsGo.finance, the world’s first major donation portal for crypto. I’ll be talking a lot more about them in the near future. Those who prefer Bitcoin can send to my address here: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
We can get the voices out there and we’re willing to shine a spotlight on new talent. We just need the resources to make it happen. If you can help, we would be extremely grateful.
Thank you and God bless!
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JD Rucker – EIC