The Office of Financial Research (OFR) is the independent bureau within the United States Department of the Treasury which was formed in response to the financial crisis of 2007-08 — and the subsequent Great Recession that ensued. The OFR’s responsible for collecting financial data and making recommendations to the Treasury’s Financial Stability Oversight Council (FSOC) based on that data, who then “responds to emerging risks to the stability of the United States’ financial system.”
This is the same department, who for the last 2 years, oversaw one of the largest transfers of wealth in the history of the world — and they approved every bit of it. Their influence in the global economy cannot be overstated, which is why the OFR’s recent white paper is particularly troublesome.
On July 11, 2022, the OFR published a working paper advocating for a Central Bank Digital Currency. In their abstract, the authors claim that a CBDC will counter against bank runs by “monitoring the flow of funds into CBDC” which “allows policymakers to identify and resolve weak banks sooner, which also decreases depositors’ incentive to run.”
The mission of the VIRGINIA CHRISTIAN ALLIANCE is to promote moral, social and scientific issues we face today from a Biblical point of view. In addition we will refute and oppose, not with hate, but with facts and humor, the secular cultural abuses that have overridden laws and standards of conduct of the past. We will encourage Christians to participate in these efforts through conferences, development of position papers, booklets and tracts, radio/TV spots, newspaper ads and articles and letters-to-the editor, web sites, newsletters and providing speakers for church and civic meetings.
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