The Federal Reserve system requires ever greater amounts of currency to be created because interest must be paid on the money created so inflation is guaranteed as the ever increasing amount of interest must also be created!
One of the commentators is confused by the involvement of bankers! Understandably, of course. The Australians used direct creation of credit/fiat during the 1930's to stimulate and reward infrastructure.
Bankers claim special knowledge and ability and sell their involvement to TPTB as a result. TPTB join in the assumption of wealth for as long as they know of the pact. The rentier bankers try to eliminate this knowledge!
The involvement of bankers is completely unnecessary. But the operation of fiat currency causes problems. They also act as a check upon politicians! Unrestricted democracy and vote winning
The point of such a monetary system is to spur on investment and win votes by inflation. But the malinvestment by the rentiers destroys all the temporary advantages. By keeping the rentier class small there is a natural check upon the bust.... But the malinvestments may continue? As measures of inflation neglect the asset bubbles, apart possibly from that of Steve Keen, it often proceeds until a bust is inevitable.
Reliance upon specie, however, can mean continual deflation. Politicians choose to be popular and to "create jobs"!