This story is about cash and an alarming paper by Biden’s nominee Saule Omarova. For fairly some time, we have been all discussing completely different points of the Great Reset and the treacherous plan to make use of the “pleased” language of “public good” and “sustainable improvement” to push by way of an all-encompassing energy seize by the biggest institutional traders and the richest individuals of the world.
The top results of the facility seize could be a fully mechanized society the place the residents’ our bodies and minds are invaded by tech, managed by AI, and finally serve the monetary and emotional pursuits of the self-appointed mad clergymen of the brand new regular. (And sure, they’re mad.)
To our chagrin, the nice resetters need to management our existence utterly. They need to management our diets, our ideas, and our sexuality. They need to management our emotions and relationships. And positive as hell, they need to management our cash. The monetary element of the Nice Reset is on the basis of how they hope to get from right here to their mechanical dystopia.
The Monetary Facet of The Nice Reset
This subject of finance within the mild of this tried reform has been explored by a lot of nice researchers and investigative journalists who’ve spoken and written about it very eloquently through the years. For instance, here’s a great conversation between Whitney Webb and John Titus known as, “COVID-19 and Central Financial institution Digital Slavery.” Each of them have performed pioneering analysis on the subject.
A core skilled on the monetary points of the Nice Reset is Catherine Austin Fitts who was just lately interviewed by Mercola on this very subject. Within the interview, Catherine Austin Fitts identified that the aggressively promoted vaccine passports are linked to the tried monetary restructuring:
“In the event that they get the passports, then I’d argue, as a sensible matter, we lose our potential to cease the Central Financial institution Digital Currencies. So, no matter we do, we have to cease the passports. The passports give them the type of management they want of the digital and monetary transactions that then leads into the CBDCs.” I additionally just lately wrote in regards to the Digital Financial Complex and Ernst Wolf:
“Wolff factors out that at the moment, entities like BlackRock, Vanguard, and State Road Company maintain extra monetary energy than many governments — and therefore, they’ve the flexibility to dictate their will to governments convincingly.
In line with him, the destruction of the normal Western social material and small companies is intentional, and the aim of the destruction is to create sufficient momentum within the type of desperation and impoverishment that when the central banks roll out the brand new monetary system, the residents will see it as an answer to horrible issues — versus a brand new system that any person wished to roll out to start with.”
“Per Wolff, the specified finish results of the monetary reform seems to be like this: Money is out. Banks are we all know them are out. All cash is digital and clear. Central banks generate digital cash at will, as a lot as they need. Each citizen has one and solely checking account, which is an account with a central financial institution.
Cash is programmable, and our spending is just not free-form, i.e. sure chunks of our cash may be assigned for particular functions, or we are able to solely spend it in sure locations, or we could also be allowed to solely purchase sure varieties of meals, and many others. and many others. Taxation’s straightforward. Censorship is straightforward. Fining individuals for dangerous habits is straightforward.”
Very fascinating evaluation titled, “The Great Reset is a Social Carbon Credit Economy!” was printed by Joseph Gonzalez, a sport developer and a fight veteran with a number of information about blockchain and its function within the 4IR mannequin.
“On this system, what you purchase, devour, carry out, and many others., shall be determined by your carbon footprint. You will be given a most allowance of carbon credit in your carbon credit score crypto pockets. Every time you carry out any motion that has a carbon hint, carbon credit shall be deducted out of your carbon crypto account on the blockchain. What you should purchase and do is set by crypto/blockchain sensible contracts, also called programmable cash.”
An Alarming Paper by Biden’s Nominee Saule Omarova
In that context, it’s important that we take note of the placing legal paper printed final month within the Vanderbilt Legislation Overview by Saule Omarova, Biden’s nominee to steer the Workplace of the Comptroller of the Forex (OCC).
What’s OCC? The Office of the Comptroller of the Currency (OCC) is a bureau of the U.S. Division of the Treasury that charters, regulates, and supervises all nationwide banks, federal financial savings associations, and federal branches and businesses of international banks. They’re the “major regulator of banks chartered beneath the Nationwide Financial institution Act and federal financial savings associations chartered beneath the House Homeowners’ Mortgage Act.”
Who’s Saule Omarova? Saule Omarova is a Kazakh-born Cornell College regulation professor who on November 2 was formally nominated to steer OCC by the Biden administration. Previous to 2014, Omarova was an Affiliate Professor on the College of North Carolina Faculty of Legislation.
And before that, “she labored for the company regulation agency, Davis Polk & Wardwell, of their Monetary Establishments Group. In 2006-2007, she served on the U.S. Division of the Treasury as a Particular Advisor for Regulatory Coverage to the Below Secretary for Home Finance.”
The paper is provocatively titled, “The Folks’s Ledger: How one can Democratize Cash and Finance the Economic system.” It begins with the next intro:
“The COVID-19 disaster underscored the urgency of digitizing sovereign cash and making certain common entry to banking companies. It pushed two associated concepts — the issuance of central financial institution digital forex and the supply of retail deposit accounts by central banks — to the forefront of the general public coverage debate.
To this point, nonetheless, the talk has not produced a coherent imaginative and prescient of how democratizing entry to central financial institution cash would — and may — remodel and democratize the whole monetary system.
This lack of a systemic perspective obscures the enormity of the problem and dilutes our potential to sort out it. This Article takes up that problem. It affords a blueprint for a complete restructuring of the central financial institution steadiness sheet as the idea for redesigning the core structure of recent finance.
Specializing in the U.S. Federal Reserve System (“the Fed”), the Article outlines a collection of structural reforms that may radically redefine the function of a central financial institution as the final word public platform for producing, modulating, and allocating monetary sources in a democratic economic system — the Folks’s Ledger.”
Omarova’s occupied with finance is on the novel aspect. She appears to dislike Wall Road — which is truthful — however then she additionally appears to consider that the central banks are our saviors. And whereas I agree together with her evaluation from an earlier interview that banks are “a**holes,” I additionally consider that her proposed resolution to present all of the management to central banks would hand the facility to not the individuals — however to even larger “a**holes,” whereas making a bizarre assumption that they’re serving the individuals.
The “a**holes” theme comes from a documentary known as, “A**holes: A Concept” (see this livestream with Omarova being interviewed at 34:16). What can be very enlightening to the understanding of her paper is a remark by her colleague at Cornell College, Professor Robert Hockett, who talks about “a**gap habits” in finance after which states that central banks could be a “collective agent” to “regulate” it.
I believe one has to have a number of creativeness to think about central banks as protectors of peasants however that’s none the much less the assumption they appear to espouse.
This sort of linguistic juggling — honest or not — is a technique that I’m very acquainted from my former homeland, the united states. And no, I’m not saying that the Nice Reset is “communist,” or that Omarova is — I believe that the entire thing is not about isms in any respect, and Omarova would possibly imply nicely, albeit in a bizarre and harmful method.
What I’m saying although is that my former Soviet homeland has vastly perfected the tactic of masking abusive state practices with the fuzzy language about “the dignity of all employees,” and that I’m alert to it. And identical to the language of “employee dignity” was a lie in my Soviet childhood, it’s an apparent lie within the context of the Nice Reset.
What I think is happening right here on the psychological degree — I’m merely guessing — is a mix of conventional opportunism and a honest, deep, Soviet-rooted ethical want for theoretical “justice.”
Does she sincerely believe within the “sustainable rhetoric” or does she merely say what must be mentioned to maneuver forward within the present insane and considerably Soviet-like atmosphere? I do not know, however I wish to repeat what I mentioned again in January, and stress that it applies to all bankers, together with the central ones:
For all these causes, I discover her current authorized paper utterly horrifying because it just about describes the mom of all conspiracy theories — the conspiracy idea saying that we’re at the moment going by way of a reform whose true goal is to maneuver all our cash to central banks, make it digital, and permit the central banks to freeze individuals’s accounts.
The paper is 69 pages lengthy. It was written about intimately by Wallstreet on Parade, which identified that Omarova’s proposed reform consists of the next:
(1) Transferring all industrial financial institution deposits from industrial banks to so-called FedAccounts on the Federal Reserve;
(2) Permitting the Fed, in “excessive and uncommon circumstances, when the Fed is unable to manage inflation by elevating rates of interest,” to confiscate deposits from these FedAccounts with a purpose to tighten financial coverage;
(3) Permitting probably the most Wall Road-conflicted regional Fed financial institution within the nation, the New York Fed, when there are “rises in market worth at charges suggestive of a bubble pattern,” comparable to with expertise shares as we speak, to “quick these securities, thereby placing downward stress on their costs”;
(4) Remove the Federal Deposit Insurance coverage Company (FDIC) that insures financial institution deposits;
(5) Consolidate all financial institution regulatory features on the OCC – which Omarova has been nominated to move.
And here’s what Omarova’s paper has to say about freezing individuals’s cash in case of an “emergency”:
“If and when the Fed injects financial base into the system, every reserve sub-account could be credited with the suitable “helicoptered” quantity. If and when the Fed seeks to empty cash from the system, the suitable quantity could be transferred from the transaction sub-account to the identical holder’s reserve sub-account, the place it might be successfully escrowed till the Fed ends its tightening insurance policies.
These briefly “reserved” funds would pay a better curiosity than the common curiosity paid by the Consumed cash held in transaction sub-accounts. Importantly, elevating this reserve rate of interest would allow the Fed to incentivize depositors to maneuver extra of their cash from transaction into reserve sub-accounts voluntarily.
Strategic use of this software, due to this fact, could lower the necessity for the necessary “reserving” of individuals’s cash, which might additionally assist to counteract unfavourable perceptions of this coverage.142 In impact, the tightening of the cash provide could be achieved by way of a obligatory however economically engaging funding scheme.”
For a little bit of context, please see this 2018 IBM paper titled, “Programmable Cash: Will Central Banks Take the Lead?” The IBM paper states: “The way forward for programmable cash is dawning. Whereas blockchain adoption remains to be in a formative stage, it affords great potential to revolutionize the worldwide monetary system. No place on earth shall be out of attain.”
For extra context, right here is the top of the Financial institution for Worldwide Settlements and his notorious speech about programmable forex through which he complains that with money, they do not know who’s utilizing the cash and the way — whereas with CBDC, central banks may have “absolute management over the principles and rules that may decide the usage of that expression of central financial institution legal responsibility and in addition … have the expertise to implement that.”
This man sounds and appears like a particular good friend of the peasants. A poster little one for protectors of the working individuals! We will calm down, consider our leaders that the passports are about our well being, and entrusts ourselves to individuals like this… or perhaps not? I wish to end this story with phrases by Catherine Austin Fitts:
“If we’ll get out of this one, we have to simply say no and refuse to enter the field.” There are extra or us than there are of them. No field for the free individuals.
In regards to the Writer
To seek out extra of Tessa Lena’s work, you’ll want to take a look at her bio, Tessa Fights Robots.