More than 100 Democrats in the U.S. House of Representatives helped Republicans send what would be the country's first major cryptocurrency law to the desk of President Donald Trump.
Technically that is how it has always been in the USA. The major banks were always private and overseen/regulated by the Board of Governors and they all have seats at the Federal Reserve Board, with leaders selected by a sitting US president and Speaker of the House, and which span multiple administrations.
The US Treasury controls money creation by setting Interest Rates to limit the creation of money and by producing or destroying cash.
All this says is that the treasury cannot do something it already wasn’t doing.
Technically that is how it has always been in the USA. The major banks were always private and overseen/regulated by the Board of Governors and they all have seats at the Federal Reserve Board, with leaders selected by a sitting US president and Speaker of the House, and which span multiple administrations.
The US Treasury controls money creation by setting Interest Rates to limit the creation of money and by producing or destroying cash.
All this says is that the treasury cannot do something it already wasn’t doing.