Biden Treasury nominee: China is a 'shining example' of 'smart' economic policy

Saule Omarova is coming for your money.

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.

Saule Omarova @STOmarova

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.

CentralBanking.com @CentralBanking_

Chinese payments providers face increased scrutiny from central bank https://t.co/8M3IA0uROa

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.

Saule Omarova @STOmarova

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: papers.ssrn.com/sol3/papers.cf….

Victoria Guida @vtg2

Quarles is deeply skeptical about the Fed issuing a digital currency https://t.co/gL3AYIGeWx

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.

Jewish Deplorable @TrumpJew2

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"

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

Saule Omarova, Biden's pick for Treasury post, wants coal, oil and gas industries 'to go bankrupt' trib.al/hf4kwHh

Given the declining state of the American economy, there remains a fascinating debate over whether the Biden Administration is purposely nuking our economic system.

Is the Biden Administration purposely destroying the American economy?

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.

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