>> Biden's nominee for Comptroller of the Currency thinks that's an idea.
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>A source that has publicly admitted that they lie to sell their
>propaganda. Like most of the right wing sites.
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I am wading my way through that 71 page document and Breitbart is not that far out of line. So far this looks like it is a pretty silly idea unless you think the government really should control the entire economy including deciding who can borrow money and at what rate. I guess her communist upbringing is showing but someone needs to remind her how that worked out. It does answer my question about where she was when the Constitution was being taught. She was learning about Marx and Lenin and how they thought the world should be run. The Soviet system imploded in the late 80s.
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Seen some threads plugging heat banks (again). Pandora was mentioned. ...
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gfretwell
OK so here is one reference to the offending policy from that manifesto
"Implementing a contractionary monetary policy by debiting FedAccounts, in turn, presents a different set of ex ante institutional choices aiming to minimize the economic and political fallout from what is likely to be perceived as the government ?taking away? people?s money. This tool is to be reserved only for extreme and rare circumstances, when the Fed is unable to control inflation by raising interest rates and deploying its new asset-side tools, discussed below. It is nevertheless important to have a mechanism in place for draining excess liquidity from these accounts with minimal disruption of productive activity".
"Draining" being the operative word.
She justifies this whole takeover of the banking system by saying some people don't have bank accounts so they needed paper stimulus checks that the government couldn't print fast enough. The Fed could just deposit their stimulus into their Fed account. If these people are so inept that they can't open a $5 saving account at a credit union somewhere, how will they ever manage an account at the Fed? This is trying to engineer a takeover of the total banking system based on people who will never really benefit from it anyway. It is almost as silly as the voter ID complaint based on a handful of people living totally underground. (Nothing official with their name on it) If they did this it would stop the voter ID debate in it's tracks tho. That person would need their government issued ID for their Federal Reserve account so it isn't all bad. ;-)
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Ed Pawlowski
OK, sounds like a good plan. I sometimes have too much money in my account and don't know what to do with it so the government will take it for me. That is a good stress reliever.
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gfretwell
The idiotic claims that Omarova wrote it or just how ridiculous her claims about the merits were? I am really not sure I care what she told her publicists on MSNBC. I am guessing you might think the FED handling personal and business bank accounts is a good idea tho.
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Scott Lurndal
Why don't you watch the interview (the transcript is on line as well) and then come back without the baseless speculation.
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gfretwell
Probably for the same reason I haven't sought out the Trump platform or watch Fox. Listening to partisan hacks does not interest me. No matter what side they are on. I read what this woman wrote and it wasn't a bong induced rambling in college, it was last year. Was she lying then or is she lying now?
There are better candidates for this position.
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