Saule Omarova, President Joe Biden’s nominee for the office of the Comptroller of the Currency, withdrew her nomination Tuesday after both Democrats and Republicans opposed her controversial views to eliminate community banks and fossil fuel companies.
Senators became increasingly critical of the radical nominee as her controversial vision for the American banking system became apparent.
In her academic work, she has called to eliminate all bank accounts and to transfer all bank deposits to “FedAccounts” at the Federal Reserve, the nation’s central bank. Speaking of FedAccounts, Omarova said, “The Democratic Party over the last couple of administrations, they want the government to essentially take over a lot of financial functions from banks.”
Omarova also called for the creation of a central bank digital currency, or CBDC, that would grant the federal government massive control over Americans’ financial activity. She even complained once that the “massive digitization of finance,” which includes digital currencies such as Bitcoin, wrested control over Americans’ money from the government.
Omarova also came under fire for declaring that she wanted to bankrupt fossil fuel companies in order to facilitate climate change policies: “A lot of the smaller players in that [coal, oil, and natural gas] industry are going to probably go bankrupt in short order – at least we want them to go bankrupt if we want to tackle climate change, right?”
Omarova also inflamed controversy after refusing to pledge not to politicize lending in a manner similar to the Obama administration’s notorious Operation Choke Point.
The fact that the Obama administration even considered putting forth such an essentially communist nominee speaks volumes about its agenda.