The Fed is just the agent of Treasury (as Bernanke pointed out in testimony[0]) , and Treasury does what Congress tells it to do. Which leads to the inevitable

The Fed is just the agent of Treasury (as Bernanke pointed out in testimony[0]) , and Treasury does what Congress tells it to do. Which leads to the inevitable conclusion - the US dollar is a simple public monopoly, and therefore monopoly rules apply. [0]: https://www.c-span.org/video/?c4454549/user-clip-bernanke-agent-treasury https://www.c-span.org/video/?c4454549/user-clip-bernanke-ag...