Day: November 27, 2021

Ran across this on Breitbart. There’s a link to the paper in the article as well.

The upshot is that another of Biden’s nominees has some questionable theories.

Saule Omarova puts forth in the paper, what looks like a plan to make the Fed, The Bank of the people.

That would certainly make the IRS’s job easier when they have to monitor our bank accounts for all transactions over $600.

Instead of messing about with paperwork and reporting structures from 100s of banks, they’ll just be able to link their computers to the Federal Bank and bingo! Every citizens transactions will be available and taxed real time.

No more worry about filing your taxes either. The IRS would know how much you made, from what sources, and they could just take their percentage of your earnings right off the top. (Pretty much like today…)

I could see an initial run on banks if this nominee is approved. The secondary run on the banks will be if the US government put her theories into practice. There’ll be folks who move their money into offshore banks as well but not everyone has the cash to make that a viable option.

I’d be right there demanding all my money from the bank, my retirement fund, and my small pension too. Then I’d do my best to convert all of it into some kind of durable goods that could be exchanged. The barter system is looking better and better all the time.

Imagine the chaos if something like a centralized Federal Bank suddenly made all your private bank accounts illegal.

It would make your life ever so much easier. Get a ticket, don’t worry it’s automatically pulled from your one single account.

Need to pay your ACA bill? No worries That will be taken out of your account before your mortgage. Oh, and about your mortgage… well the Federal Bank has determined that you’re not actually eligible for that mortgage, so you’ll have to move to lower cost housing.

I could see a situation where we each had only one credit card with percentage rates based on your Government loyalty score. BTW your credit line is decreased the older you are because… well your life isn’t going to be that long, and you’ll need to repay your debt before you die.

I know I’m being somewhat reactionary, but come on folks. When has our government ever not taken advantage of the citizens?

Why the heck is it that all of the administration’s nominees appear to be complete whack-jobs?

At first I could excuse it, because I thought that they were trying to get their feet under them. But now? How is it possible that nominee after nominee has some kind of weird questionable, perhaps anti American philosophy? One or two I could let pass, but now it’s starting to look like a systematic plan to screw everyone over.

The thing is, if only one or two whack-jobs were appointed we could keep an eye on them. But when so many are being exposed in the nomination process, I have to wonder how many have been installed in the halls of government without undergoing some kind of congressional approval process.

I’m not intending to suggest that there isn’t room for change or improvement in our banking systems, or in fact any other systems. I’m saying that when you talk about changing things, perhaps a lighter touch is necessary.

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Update:

Since I wrote this, it appears that 5 Democratic Senators have announced they will not support Saule Omarova’s nomination for the position. That pretty much causes this Biden nominee to crash and burn.

It does beg the question of who Biden will nominate next. Given his history of nominees, I wonder if he’ll choose someone only slightly better, or will he nominate the corpse of Mao Zedong (forgetting the Mao is dead)? I guess only time will tell.