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Biden Nominating Communist to Top Bank Regulator Post

by Anthony Buckley

If you didn’t already know that the Biden administration is trying to push the country further toward communism, his nominee for the nation’s top banking regulator is a clear sign. Biden has nominated Saule Omarova to head up the Office of the Comptroller of the Currency. Omarova is a Soviet-born lawyer whose enthusiasm for how things were done in the Soviet Union is unabashed. And pretty soon she could be put in charge of overseeing the nation’s banking system.

Even worse than her support of the Soviet way of doing things, Omarova wants to make major changes to the US banking system, ending banking as we know it. Among her proposals is for the Federal Reserve to take over all bank deposits in the country and place them on its balance sheet.

Yes, you read that right. Instead of having your money at Wells Fargo, or Bank of America, or at your local bank or credit union, your money would be held by the Federal Reserve System. And that’s just one part of Omarova’s communist-inspired economic ideas, which she tries to sell by calling them similar to FDR’s New Deal policies.

There’s already been pushback by the banking industry against Omarova’s nomination, and there’s a possibility that she might not make it through the confirmation process. But the fact that she was nominated in the first place should be an indicator of Democrats’ ultimate goal. They’re pushing the goalposts further and further leftward.

It also helps push the country further left. After all, if Biden nominates someone who’s basically a communist to start off with, just about anyone would seem moderate in comparison, even someone who might have been rejected at first as a stark raving leftist lunatic.

Let’s hope that our Republican Senators are stronger in standing up to Biden’s leftist nominees than they are in caving on the debt limit. Otherwise the country may never recover from the damage Biden’s nominees could do.

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