I think that the Federal Reserve is really the best system we have now.
It would be much worse if money were issued by the Treasury. The deficit spending would then be totally out of control.
What alternatives do we seriously have to the Federal Reserve?
You may want to watch the video again more closely. What did the US do prior to 1913? Historically speaking, US government deficit spending has actually been much less when the Treasury issued the currency. And even if the government runs a deficit, the interest is paid to the government, i.e. the people. It can be used to pay national debts, it can be used to build public works, or it can be used to fund current operations allowing taxes to be reduced! Remember, there was no federal income tax prior to 1913. Currently the interest is paid to a tiny secret group of unbelievably wealthy individuals, many of whom are not citizens of the US. They can use it to purchase our property, they can use it to convert into gold, they can bribe politicians, pay assassins, they can do whatever they please with it. The sums involved are astronomical — it is difficult for ordinary folks like us to imagine the power these people have.
And when in doubt, you can just look at the US Constitution. The power to coin money and regulate its value is reserved for the Legislative Branch. But who reads that musty old document anymore?
