> the whole purpose of the fed is to ensure that we don't have a systemic, cascading bank failure I thought they set (or manipulate) the price of money via int

> the whole purpose of the fed is to ensure that we don't have a systemic, cascading bank failure I thought they set (or manipulate) the price of money via interest rates. And they help provide liquidity to primary dealers of US Treasury debt which helps govt ignore persistent budget deficits. They also hold USA's gold on their balance sheet and there hasn't been a full audit since ..?