Pro-Soviet Union Controller of Currency Nominee Withdraws Name
Biden’s top pick for Controller of Currency, Säule Omarova, has withdrawn her name from the list of nominees after receiving bipartisan pushback.
The New York Post said, “During her confirmation hearing in the Senate Banking Committee last month, lawmakers pointed to the Soviet born and raised Omarova’s academic papers proposing a shift away from consumer banking, by moving Americans’ finances from private banks to the Federal Reserve.”
Omarova is a Cornell Law School professor who studied at Moscow State University on a Vladimir Lenin scholarship and wrote her thesis on Karl Marx. Lawmakers discovered that Omarova withheld her thesis— titled “Karl Marx’s Economic Analysis and the Theory of Revolution in The Capital”—from her White House application earlier this year.
Omarova once advocated for a Soviet-style centralized banking system and recently argued for a Federal Reserve takeover of consumer bank depositing, which would change banking “as we know it.”
Knowing the role of the Federal Reserve can help Americans understand the importance of protecting consumer banking, preserving free market capitalism, and holding lawmakers accountable for passing legislation that aligns with the U.S. Constitution.
One investment resource describes the Federal Reserve System (FRS) as “the central bank of the United States and arguably the most powerful financial institution in the world. It was founded to provide the country with a safe, flexible, and stable monetary and financial system.”