Topic: Saule Omarova

Saule Omarova, Biden's nominee for Comptroller of the Currency, has proposed a "National Investment Authority" (NIA) that would function as a publicly owned version of BlackRock. The plan involves raising capital from institutional investors with a government guarantee of principal return, backed by the Federal Reserve. Critics describe the proposal as a "fifth-grade report" on communism that seeks to circumvent Congressional spending powers.

The ultimate goal of the digital identity push is linked to a "full transition" where private bank accounts are replaced by direct accounts at the Federal Reserve. Saule Omarova suggests this would allow the government to implement "helicopter money" and more easily contract the money supply by taking funds directly from citizen accounts to combat inflation.