Yes this is right, but it is more than that. For example, you can use control of the currency to control the split between labor and capital, or save institutio

Yes this is right, but it is more than that. For example, you can use control of the currency to control the split between labor and capital, or save institutions such as the large banks in a GFC situation (look at the difference in how the owners of the banks faired in 2008 verses 1933).