Sort of, but rather than being the guy posting on the internet the fed gets to draw on the GDP of a pretty big country. Second point, 1 dollar is not a stable

Sort of, but rather than being the guy posting on the internet the fed gets to draw on the GDP of a pretty big country. Second point, 1 dollar is not a stable unit of value as viewed by other currencies. This is fine, you're valuing the fed vs currency x's backing resource.