Cryptocurrency: Biden Nominating RusSocCom Omarova to Currencey Control, CBDC, WarOnCash

[grarpamp]

After filling every position, including the Vice Presidency,
with worthless Woke-Left-Socialist-Marxist-Commies,
Biden (who sold out the US to China to raise Hunter)
appoints yet another, a straight up Russian Socialist Agent...


Biden Nominee For Top Banking Regulator Facing Growing Resistance In Senate

https://www.wsj.com/articles/comptroller-of-the-economy-saule-omarova-joe-biden-nominee-11632937029
https://www.cnbc.com/2021/10/19/biden-pick-to-run-bank-regulator-faces-democratic-resistance-in-senate.html

Unsurprisingly, some influential Senate Democrats are getting cold
feet about the prospect of President Biden nominating Saule Omarova to
lead the OCC. The  Cornell law professor educated in the USSR who has
proposed that the Fed take over most retail banking activities from
the private sector (which a Fedcoin - or ZuckCoin - just might help it
to do) while wholeheartedly supporting the progressives' "Green New
Deal" agenda.

This has, understandably, made many in both Congress, and the industry
she is about to regulate, uncomfortable.

As we have reported, Omarova has previously favorably compared  the
USSR to the US - at least when it comes to the "gender pay gap".

    "Until I came to the US, I couldn’t imagine that things like
gender pay gap still existed in today’s world. Say what you will about
old USSR, there was no gender pay gap there. Market doesn’t always
‘know best,’" Omarova tweeted in 2019, adding (after receiving harsh
criticism) "I never claimed women and men were treated absolutely
equally in every facet of Soviet life. But people’s salaries were set
(by the state) in a gender-blind manner. And all women got very
generous maternity benefits. Both things are still a pipe dream in our
society!"

Additionally, as the Wall Street Journal editorial board notes, "Ms.
Omarova thinks asset prices, pay scales, capital and credit should be
dictated by the federal government. In two papers, she has advocated
expanding the Federal Reserve’s mandate to include the price levels of
“systemically important financial assets” as well as worker wages. As
they like to say at the modern university, from each according to her
ability to each according to her needs."

    In a recent paper “The People’s Ledger,” she proposed that the
Federal Reserve take over consumer bank deposits, “effectively ‘end
banking,’ as we know it,” and become “the ultimate public platform for
generating, modulating, and allocating financial resources in a modern
economy.” She’d also like the U.S. to create a central bank digital
currency—as Venezuela and China are doing—to “redesign our financial
system & turn Fed’s balance sheet into a true ‘People’s Ledger,’” she
tweeted this summer. What could possibly go wrong? -WSJ

Omarova also wants to create a "Public Interest Council" of "highly
paid" academics who would wield subpoena power over regulatory
agencies, including the Fed.

But President Biden has put these concerns aside and said he plans to
nominate Omarova, though he has yet to make it official. Many
speculate her nomination is mostly a sop to the party's progressive
wing, since even Treasury Secretary Janet Yellen opposes her
nomination.

But according to a report published Wednesday by CNBC, Omarova's
nomination is running into resistance in the Senate, including among
key Democratic members of the committee that must approve her
nomination before it goes before the entire Senate.

    Senate Democrats are fractured over whether to support Saule
Omarova, Biden’s indicated choice to lead the Office of the
Comptroller of the Currency, jeopardizing her candidacy.

    Any Democratic defection, or an indication of such, could force
Senate leadership to scrap the nomination before putting Omarova up to
a vote.

According to CNBC's main source (who remains anonymous) is that these
Senators have already shared their misgivings with President Biden.

    Her selection, coupled with her views on how to overhaul the US
banking system, prompted several Senate Democrats or their staff to
complain to the White House and suggest that the president’s choice
will be tough to support on Capitol Hill, according to a person
familiar with the matter.

    This person declined to be named in order to speak openly about
private discussions between the White House and Senate offices.

    Others surrounding the OCC nomination process said a handful of
moderate Democrats harbor reservations about Omarova and her
aspirations to “end banking as we know it,” as she suggested in a
Vanderbilt Law Review article.

    Those people cautioned that skeptical senators likely haven’t made
a final decision yet but are leaning against her candidacy.

But it's not just the whispers of anonymized sources from the Hill
suggesting that the nomination of what would be America's first
formerly Communist chief of the OCC (Saule once earned a "Lenin" award
back in the USSR, which has favorably compared to the US in at least
one notable instance) is in trouble. Sen. Jon Tester of Montana, a
critical red state Democrat and community banking champion, told CNBC
that he's having second thoughts - though he didn't say he opposes the
nomination.

    Sen. Jon Tester of Montana told CNBC on Tuesday that he has
"concerns about Omarova’s candidacy. Tester, known in the Senate as a
champion of community banks, did not indicate whether he opposes her
outright.

    "Some of Ms. Omarova’s past statements about the role of
government in the financial system raise concerns about her ability to
impartially serve at the Office of the Comptroller of the Currency,"
he said. "I’m looking forward to meeting with her to discuss them."

    Tester, a moderate member of the Senate banking committee, would
also vote on whether to recommend Omarova to the broader chamber. A
representative for Sen. Mark Warner, another moderate on the banking
committee, said the Virginia Democrat has not yet made a decision on
whether to support Omarova.

Of course, Senate progressives like Sherrod Brown of Ohio still
full-throatedly back Saule's nomination.

    The office of banking committee Chairman Sen. Sherrod Brown,
D-Ohio, a fierce advocate of Omarova’s, reiterated its support for
Biden’s pick.

    "Senator Brown and the White House continue to push back against
Republicans’ misleading statements against Ms. Omarova’s character and
policy positions," a spokesperson said.

    The White House continues to support Omarova’s nomination, an official said.

In a sign of how little the leadership wants to deal with this right
now, with so many other Democratic priorities being hammered out,
including Biden's entire domestic agenda, when approached by CNBC,
Senate Majority Leader Chuck Schumer refused to even return their
request for comment.

At the very least, the takeaway from all of this is that even if
Omarova's nomination isn't already dead in the water, the Dems won't
have the bandwidth to deal with a high-profile nomination fight until
next year.