The US Constitution disagrees and says there is a governmental role in money, its value, and minting. Its quite specific and mentions nothing about delegating that to a secret group of bankers.
The Federal Reserve Act established the Fed as a concession to ***print*** the nation’s currency that was backed by silver and gold, a printing concession operation in service to the US Government.
It morphed from a concession service into an independent driver of liquidity for its member banks, and those banks grew to be nternational.
Over decades, it has gone off the books into a worldwide franchise.
It is not controlled by the US Government in its foreign operations. It has its own rules and autonomy in operations outside the jurisdiction of the United States.
When it comes to loans to the US Government, it is the government that is constrained by law, not the Fed.
To say or think today that the Fed is merely a concession printing service to the US Government as it was originally established to be in 1913, is to say that the off-book operations of big banks in foreign countries is entirely under the purview and jurisdiction of the House of Representatives, and to say that globalism does not exist other than as a figment of the imaginations of hysterical conspiracy nutcases.
The Fed operates autonomously outside the United States because there is a large currency circulation of US Dollars outside the United States. It sought to monitor and control this foreign supply and in so doing it invited elite privileged persons to operate where no US laws had jurisdiction. Hence, globalism and the US Fed were joined together. The elites thought they could ‘manage’ the world and its conflicts, its instabilities and its problems by nation-building, by employing the US military as unpaid mercenaries in war after war, and in so doing by electronically creating money from nothing to transfer through a network of banks around the world tied to monetary control through Luxembourg.
Trump knows that Corporate Inversion is caused in large part by the Fed’s unaudited, unmonitored foreign operations where it provides digitally created funds to cause American industries to move overseas into facilities that cost them nothing to build and where the labor force works at less that a quarter than American wage levels. This is the great redistribution playing out on the world stage. The Fed is the center of that redistribution.
The current institution is the 3rd such organized. The previous two were taken down by the will of the President of the time.