Ok - I agree we have exchange rates but they are one of the pretty much free floating and not regulated at least not the value, which is set by the market.
Ok - I can understand the need to regulate the banks - but not to create a central bank or a lender of last resort. The two things are not the same. And the later ends up putting too much power in the hands of a few instead of leaving it for the market or with Congress where it belongs.
To me it’s no different than congress handing law making off to an unelected bureaucratic regulatory agency which is a plan and utter relagation of their powers to the executive branch because they don’t want to be seen voting on things that they secretly want.
A lot of folks here see it that way, and others might argue that we won't have banks w/o a LOLR because it's something the private sector simply can't provide. The state cannot exist w/o some kind of financial system, so no matter what you and I say the state will do what ever it has to do to survive.