The treasury can print money and not pay ANY interest or have to borrow any principal. You miss the point. Why use the Fed?
Why does the Fed get to create the value. They start with paper and then LOAN the money at face value plus interest.
There doesn't need to be a loan. That's the scam.
The interest is there to allow a private entity to profit from the idea of currency to facilitate trade. Treasury can print, control money supply and interest rates. Banks would still be charged interest to borrow from the treasury. WE would keep the profit from that transaction, not a private company.
Wrong.We don't.
Imagine you are legally allowed to print money.
Instead you borrow it.
And pay interest.
We pay interest plus principal instead of nothing but the cost of paper.
That's the scam.