Congress must execute the right to coin

Here is all the Constitution says about the money power of the government. From Article I, Section 8, there is “Congress shall have Power…to coin Money, regulate the Value thereof, and of foreign Coin.”

Karl Smith claims different:

Defend Fed Independence. You Might Need It Someday.

Federal Reserve independence is on trial in Washington again. President Donald Trump’s top economic adviser, Larry Kudlow, broke with decades of economic orthodoxy on Tuesday when he agreed with the prominent supply-sider Arthur Laffer that Fed independence is undemocratic and that monetary policy should be handled by the Treasury Department or Congress. You've reached your free article limit. Save 90% on unlimited access. View Offers Sign in Bloomberg Anywhere clients

Karl Smith seems confused.  Our monetary system derives from the Congressional right to coin.  Congress has no choice in the matter, they are elected, they do what folks want. And, without any doubt, I can prove that AOC has no plan to pay interest on the Reagan bailout of that Bush kid in Texas in the 80s.  She is not going to do it, not will any of her generation agree to cover those interest costs.  Never in the annals of history has the new generation agreed to cover the losses of the previous generation.