For as long as the power to create money is in the hands of private interests who do it for profit and control, we can never say that we live in a democracy.
The Constitution specifically grants Congress the power of money creation and administration:
" Art.1, sec. 8. The Congress ... shall have power ... to borrow money on the credit of the United States ...
to coin money, regulate the value thereof, and of foreign coin ... to provide for the punishment of counterfeiting."
Regarding the individual States, the Constitution declared:
"Art.1, sec.10. No State shall coin money nor emit bills of credit, nor make anything but gold and silver coin a tender in payment of debts..."
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