Re: OT. No Private Bank Accounts

I would rather the Democrats would get some sense and get rid of the babbling old fool they put in for president. This country my not last long enough to get to election day.

A clean slate might not be a bad thing. The US was an interesting experiment but it got us to where we are now.

> >

> >>> >>> 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.
> >>
> >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.
> >
> 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. ;-)

I think I've read enough to know that this woman should not be confirmed. If I understand the jibberish above, she's saying that as part of monetary policy, the fed could debit people's Fedaccount, take their money? From what I can see this Fedaccount idea is just in some bill that hasn't been passed and I agree, it's beyond stupid and unnecessary. You can open a bank account everywhere from local banks to online. She just gave a good reason why you should never have a Fedaccount. This is typical Democrats, fixing problems that don't exist. What they should be fixing are the broken ports and shipping crisis that's a severe threat to the economy right now.l

Those next in line are worse than he is. One of the reasons he chose vp Chuckles.

I've seen a few articles lately about the Democrats being unhappy with the VP. There is probably zero chance of her being asked to resign behind the scenes. Maybe she needs to pursue her art career like Hunter Biden. Harris gets replaced with someone like Senator Sinema from Arizona. Biden resigns. Yeah, I know, pigs will fly first.

With Biden it will most likely remain become/remain a Weekend at Bernie's situation. They will just continue to prop him up and run the show.

They would dredge up a Clinton if that happened.

CNN has started to throw Harris under the bus. Maybe it truly is the Clinton News Network and Harris isn't a Clinton.

It might be wise to decide to spend more time with her family. Terrible accidents happen like in the case of Seth Rich. Of course she has protection. Indira Gandhi though her Sikh bodyguards had her back. They did in a manner of speaking.