Yes, They Want To Steal Your Money

"Joe Biden's" nominee to head the OCC has written a paper which proposes the following:

(1) Moving all commercial bank deposits from commercial banks to so-called FedAccounts at the Federal Reserve;

(2) Allowing the Fed, in “extreme and rare circumstances, when the Fed is unable to control inflation by raising interest rates,” to confiscate deposits from these FedAccounts in order to tighten monetary policy;

(3) Allowing the most Wall Street-conflicted regional Fed bank in the country, the New York Fed, when there are “rises in market value at rates suggestive of a bubble trend,” such as with technology stocks today, to “short these securities, thereby putting downward pressure on their prices”;

(4) Eliminate the Federal Deposit Insurance Corporation (FDIC) that insures bank deposits;

(5) Consolidate all bank regulatory functions at the OCC – which Omarova has been nominated to head.

Source - https://wallstreetonparade.com/2021/10/bidens-nominee-omarova-has-a-published-plan-to-move-all-bank-deposits-to-the-fed-and-let-the-new-york-fed-short-stocks/

You can find the actual paper here:

https://wallstreetonparade.com/wp-content/uploads/2021/10/SSRN-id3715735.pdf

I can't see how this has ANYTHING to do with "democratizing money". It seems more like a naked power grab destined to consolidate financial power in the hands of a few. The Federal Reserve System is bad enough, but this is truly nutty.

I believe that ultimately such a scheme would find a way to seize EVERYONE'S accounts, perhaps as a prelude to the establishment of a digital currency.

Did we just wake up in Soviet Russia or CCP China, or am I missing something?