I see. While I’m a Libertarian, I’d prefer the European system over the back door destruction of our currency to some extent. At least you can SEE taxes, even if they’re onerous. What the Fed has done is basically steal our money by devaluation, increasing their power (without actually increasing wealth). This is unsustainable, of course, but that it’s lasted so long is hard to believe at times.
I prefer the European monetary policy under Trichet where they focus solely on capping inflation, but I much prefer American pre-Obama fiscal policy.