The fed was established by the networks allied with the British Empire with the clear intent of seizing control over US credit and financial affairs, usurping those constitutionally defined powers on behalf of private financial interests. At this point, the Fed, not the US government has control over these affairs, with no effective opposition from our elected government.
In specific all Fed Open Market operations involved in monetizing the US debt place the US government and our citizens on the line to back currency and credit illegally issued by the Fed, on its authority alone, without any interference by elected government. The Fed thus creates the conditions which debase the US currency through such actions, while effectively dictating levels of austerity to be imposed by the elected government, although the Fed has no real power to dictate such conditionalities.
While the Congress, and occasionally, the Executive have impotently demanded to know what the Fed is doing, and the Fed chairman routinely goes before Congressional committees to explain its actions, the Fed has especially in the most recent period been undeterred by any criticisms, and does what it pleases in imposing a monetary and credit policy.
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