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I see the richest man in the world advocating for a policy that would help keep him be the richest man in the world. So… not really good arguments for it.
I suggest reading a book entitled: “the creature from Jekyll island”
Really interesting perspective on the founding and history of the Fed.
On a side note: the federal reserve is not federal - it has private shareholders who are undisclosed, and per its charter they receive 6% in dividends per year. And it has no reserves - when the Fed purchases securities it does so from an account with a zero balance.
They can write any sized check and since they are the ones who verify the available funds, they give themselves a pass, and issue new dollars to fund treasury bill purchases.