General Discussion

If the money supply were controlled by a government bureaucracy, they would likely be too slow to react to changes in the economic situation.

And then if a criminal like Trump came into power, he could simply just start putting money into his own accounts. He is doing that anyway, but at least not by having the fiat currency handed to him.

So there is an argument for the independence of the Fed. But that argument fails without transparency and accountability. This is why people like Ron Paul and Bernie Sanders have been right on the money (so to speak) when they demand the Fed must operate transparently, including passing regular public audits.

This ought to be the minimum requirement for having an independent organization control the money. But as I have mentioned above, the Fed no longer controls the money supply in a meaningful way. The cryptocurrencies are, de facto, part of our money supply. And the insane bubble stocks are behaving, more than any time in our history, like currency. The mag-7 stocks have $23 TRILLION of stock in circulation, compared to only $2.4 trillion of US currency in circulation.