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In today's video, I discuss President Biden's controversial nominee to the OCC, Saule Omarova, and her views on increasing the power of the Federal Reserve.
In a recent academic publication, Omarova suggests 3 action items:
1) Move all commercial bank accounts to the Fed
2) Allow the Fed to confiscate part of your savings if necessary
3) Empower the Federal Reserve Bank of New York to short individual stocks and stock sectors.
It's already bad enough that the central banks of the world manipulate interest rates and the money supply.
Giving the Fed such extraordinary unchecked power would be a disaster. Any political pressure exerted on the Fed could result in individuals and corporations being punished for their views by bank account seizure or the shorting of their stock.
The rise of central bank digital currencies (CBDCs) is another parallel path being pursued by both the CCP (Chinese Communist Party) and the Federal Reserve in the US.
The whole world is splitting into two tribes:
1) Sheeple: those who are content to go along with total government surveillance and control
2) Freeple: those who want to live free lives, and not have their movement, speech, or money controlled by central planners.
The real fight is between Bitcoin and CBDCs. Altcoins are a huge distraction and waste of time.
If you are spending your days debating the relative merits of DOGE vs SHIB, your descendants are going to be very upset with you.
Not investment advice! Consult a financial advisor.
Cyprus steals from citizens' bank accounts:
https://www.bbc.com/news/world-europe-21814325
Fight over Omarova:
https://www.bloomberg.com/news/articles/2021-10-26/saule-omarova-confirmation-behind-biden-s-pick-for-comptroller-of-the-currency
Saule Omarova:
https://en.wikipedia.org/wiki/Saule_Omarova
Office of the Comptroller of the Currency (OCC):
https://en.wikipedia.org/wiki/Office_of_the_Comptroller_of_the_Currency
Omarova's controversial paper:
https://wallstreetonparade.com/wp-content/uploads/2021/10/SSRN-id3715735.pdf
China loves CBDCs:
https://carnegieendowment.org/2021/10/06/beijing-s-global-ambitions-for-central-bank-digital-currencies-are-growing-clearer-pub-85503
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https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5
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