The bigger problem is that the people who control the printing of money get to create wealth for themselves out of nothing.
That is so not how money works. In order for the money you print to actually be worth something, you have to back it up financially. Otherwise it's just paper.
You would think that, but you're wrong. There's a movie called "Money Masters" which explains it rather well - essentially, the bank of America is a private company that's been given the rights to printing all of the U.S.'s money... out of thin air. They create wealth out of nothing, and then sell it to the American government and people. It's the same all over the place and it's one of the driving forces of globalization and 3rd world debt, not to mention the so-called economic "cycle".
When the bank of America was created, the government invested $2 million worth of gold into the bank. Then the owners of the bank lent themselves $8 million from the bank, and then invested that money back into the bank. They lent themselves more money than they had gold, using the theory that people won't claim all the gold at the same time. They've continued the trend ever since, only now instead of lending themselves money from the bank out of thin air, they're simply printing the money out of thin air.
