The answers dont matter if we dont ask the right question.
Excellent question !
Many people believe what we are seeing is a battle between those that print money ( Federal Reserve , House of Rothschild/Bank of England ) and
those that decide what money is worth ( Governments and Individuals).
There is a very long History behind what constitutes money, who creates it, and who decides what its worth. It really begins with the Knights
Templar who created the system of using IOU's (the modern system of using checks or credit cards) in place of actually carrying gold or silver around
to pay for items and services. The Knights charged a very small fee for this, but became so popular they quickly became the wealthiest group in Europe
and scared the Church and Royal families enough that they were murdered on Friday the 13th of the year 1307, which is why we still think of Friday the
13th as unlucky.
However the system they invented lived on and was copied by various governments and banking systems until the Bank of England created in 1694 truly
became the template for modern Banking. The Bank of England financed wars, exploration, drug cartels, everything under the sun and bacame fabulously
wealthy and powerful.
Skipping ahead to 1913, the USA accepted the Role of the Federal Reserve in place of Central National Bank. Until this point various incanations of
Banking systems and Government issuing dollars came and went, however it was always under the control of the Government.
The Federal reserve is a foreign entity both private and public, a very complex system interlocked with public banks controlled by private banks
controlled by European Banks, mainly the Bank of England.
This system evolved to fractional banking, whereby 100 dollars held as asset by the bank can be leveraged to represent 900 dollars. This leveraging
was mainly responsible for the credit bubble in the roaring 20's and the cause of the great depression when the bubble burst under market
US congress passed the Glass steagal Act in 1934 to prevent banking system from creating and also investing its own credit (regulated investment
banking). in 1999 President Clinton and congress repealed regulations that restricted banks from creating and investing their own credit lines.
This allowed Fed Banks to freely "print" and create credit (money) backed by no asset or value, the banks called these financial derivatives.
There was no market for these derivatives except between banks themselves, packaged and resold to each other. This market created massive amounts of
credit based on nothing more than entries on a bank ledger.
It is estimated the Bank of England has up to $USD 500 Trillion in derivatives on its books at this time. There was over 2 trillion removed from US
financial system in 2007 and 2008 by the federal reserve and sent to Europe, most believe this was interest payments on the derivatives held in
Europe. The Fed has consistantly refused to divulge any information regarding this transfer of wealth.
So the short answer is the Federal system prints money at will, while the american taxpayer is the underwriter and insurer of last resort ( AIG +
banking bailouts ).