Saule Omarova, US Nominee for Comptroller of the Currency

What, Me Worry?

Earlier this month, the White House nominated Saule Omarova to lead the Office of the Comptroller of the Currency (OCC). She is currently awaiting confirmation from the Senate. And we all should be highly concerned.

Although her name is still relatively obscure, she is not new to the realm of the federal government. In 2006, she had a brief stint as a special advisor at the Department of the Treasury for regulatory policy for domestic finance.

Omarova was a practicing attorney in the Financial Institutions Group of Davis Polk and Wardwell, where she specialized in the areas of corporate transactions and financial regulation. She is currently a law professor at Cornell and a senior fellow at the Berggruen Institute — a central planning think tank for social engineers — “working on institutional design for financing sustainable and equitable economic development.

Omarova earned her initial diploma at Moscow University in 1989, and then went on to get her Ph.D. at University of Wisconsin at Madison and her J.D. at Northwestern University School of Law.

A central planner, a lawyer, and a promoter of equity all in one — watch out, Harrison Bergeron!

Saule Omarova as Comptroller will cause you to clench your buttcheeks and perk up in horror.

Soviet Fondness

When challenged on Twitter over her statement of reverence that “there was no gender pay gap in the USSR,” Omarova responded in defense of the Soviet Empire. They may be ruthless poverty-peddlers, but at least they’re “gender-blind,” she says.

Before she came to the US, the Soviet Union was collapsing and poverty was the common theme. But hey, at least there was no gender pay gap in the USSR! You see, if you’re equally poor then you have no one to envy and you will be happy.

When asked by Chris Hayes what brought her to the US, she replied,

“Well, it was actually pure chance in a way. I was an undergraduate student at Moscow State University and there was at the very end of the Gorbachev era an exchange program between Moscow State and University of Wisconsin Madison. I got lucky against all odds, and I came for that one semester in 1991 to Madison, Wisconsin. While I was there in December of 1991, the Soviet Union fell apart. So there I was, a student without anywhere to go back. I was very worried about what was going to happen. So I stayed to do my Ph.D. in political science, but frankly, I'm just ... To this day, I feel guilty for having left the country at such a momentous time, because obviously they couldn't hold it together without me.”

Senator Pat Toomey asked Omarova to turn over a copy of her Moscow University thesis on Marx for review by the committee last month. Toomey’s letter to Omarova stated,

"Therefore, I write today seeking a copy of your thesis, ‘Karl Marx’s Economic Analysis and the Theory of Revolution in [Das] Capital,’ which you wrote as a student at Moscow State University on the V.I. Lenin Personal Academic Scholarship. While it appears that you have deleted any reference to your thesis in the version of your curriculum vitae (CV) that is currently available on the Cornell Law School website, the paper appeared on your CV as recently as April 2017.”

Well, Omarova refused to hand it over. Now that’s not to say that someone’s past views necessarily describe their present views. I mean, Omarova did grow up in the Soviet Empire, so perhaps we should give her a break. After all, many people flirt with Marxism when they’re young only to realize the utter absurdity once they put on their thinking cap.

The National Investment Authority (NIA)

But Omarova doesn’t seem to have found her thinking cap. She is still a central planner through and through, replete with Marxist tendencies. Her current push is to radically centralize the banking industry and create a National Investment Authority (NIA). Be on the lookout for the acronym NIA getting passed around as a talking point by the corporate press. This is how they prime the people for what they have in store for us.

According to the progressive think tank, Data for Progress, the NIA

“… offers a concrete institutional solution to multiple organizational, financial, and operational challenges associated with the long-term climate agenda. The NIA would operate alongside the Treasury and the Federal Reserve and directly allocate both public and private capital to clean infrastructure projects that currently do not get funded in private markets on the necessary scale. It will actively participate in financial markets not only as a lender, guarantor, and market-maker but also as an active asset manager and venture capital investor. By doing so, the NIA will serve as a permanent institutional platform for mobilizing and directing the nation’s financial, technological, and human resources to where they are needed the most in our battle against climate change.

The NIA would be a central planning force to shape the economy in a way in which the “experts” claim the perceived problem of climate change should be solved. The flowery language from Data for Progress doesn’t change the fact that this organization will simply pick winners and losers in the marketplace, no doubt rewarding the politically connected at the expense of the peoplem, all under the facade of environmentalism.

For those that understand the existing destructiveness of the Federal Reserve and how it enriches the uber-wealthy and politically connected at the expense of the rest, just wait till we have the NIA. See Omarova’s paper, Why We Need a National Investment Authority, where she outlines how the NIA would “execute emergency financial relief and corporate bailout measures.”

What, Me Worry?

The position of Comptroller at the OCC may seem to you like an insignificant position with no real power. So, as Alfred E. Neuman would say, “What, me worry?” But, you have to realize that the OCC is the head banking regulator supervising US financial institutions and the position of Comptroller is essentially the CEO of the OCC.

In a paper Omarova wrote a year ago titled, The People’s Ledger: How to Democratize Money and Finance the Economy, she uses crisis as opportunity and pushes for further centralized control:

“The COVID-19 crisis underscored the urgency of digitizing sovereign money and ensuring universal access to banking services. It pushed two related ideas—the issuance of central bank digital currency and the provision of retail deposit accounts by central banks—to the forefront of the public policy debate.”

If that doesn’t sound dangerous to you, then you are not paying attention. She wants a centralized, digital money — one she can control — because she fears the movement towards decentralized digital money. It threatens the whole premise of the Fed’s existence and that of the Controller. She envisions,

“the complete migration of demand deposit accounts to the Fed’s balance sheet.”

That means full centralized control of your bank accounts. And she advocates a,

“restructuring of the Fed’s investment portfolio, which would maximize its capacity to channel credit to productive uses in the nation’s economy.”

Well, who do you think gets to define “productive uses” and decide who can receive the Fed’s credit? Well, none other than Miss Equity herself — Saule Omarova. Earlier this year, she specifically called out the coal, oil, and gas industries and said,

“… we want them to go bankrupt if we want to tackle climate change, right?”

And you remember when Treasury Secretary, Janet Yellen, floated the proposal for the IRS to track all banking transactions above $600? Do you think Omarova will have any qualms about making that a reality?

Clench those butt cheeks, perk up, and pay attention.