Government needs to be the coiner of money.
The exact trouble with governments that have central banks, like the Fed, is that money creation has been turned over to the private sector, specifically, a very small group that engineered the establishment of “central banks”.
That small group now is loan shark, I mean, lender, to the government, instead of the government creating money that it has every right to.
And now the people find their government beholden to this money-monopoly, allowing their associates to puppetmaster the whole country.
Any government that does not create its own money is forced to borrow when reaches the limits of taxation and finds that it still needs more money. And the lender certainly will do everything he can to make sure the government outspends its taxing capability.
All money has to come from somewhere. If the currency issued by the government is not backed with real wealth (borrowed or taxed) then it becomes worthless, the most striking examples being Weimar Germany and Zimbabwe.
That's awful! What does the loan shark do with their profits?