[mjburgess]

The supply of money is one of the main means a government has to conduct economic policy. Consider what would have happened during the financial crash if governments hadnt been able to inject massive amounts of it into the economy.

Libertarians assume that if there's no democratic control over the currency, somehow, Reality, will make everything turn out ok. Well we tried that for a very long time, and it was a disaster. Every crisis is much worse if you cannot control the money supply.

In any case, no modern state would ever give this up. Its vital for their being able to deliver policies that people want, and to managing times of crisis.

[Finneyfamily]

It's also vital to undermine the savings of the population, which has been the case in most countries (perhaps less noticeable when there is a working financial system, but in many other countries people don't have access to invest in the market, or don't trust the institutions).