Of course they are because they cannot print money without an approval and that might cause folks to wake up. They have hidden that fact forever.
It is easy to understand that fiat lending on its own is a zero sum game in which the borrower actually repays the loan. The problem is in the interest. Just where did that all come from? The only source is to have government print money, spend it and tax less of it back. So that interest must come out of the economic activity produced by the government float.
Inflation helps a lot but we are now in a world in which inflation costs and interest costs are low. It took forty years to bring this about but we are there.
All this leads us back to the problem of the whole idea of a central bank at all. It is my conjecture that a natural community with the rule of twelve and real fiat lending ability is the superior way to operate. This produces insatiable demand for government debt and provides prudent guidance. The whole issue of atop down lending bubble becomes unlikely..