Did the Treasury just merge with the Fed? Interview on Nemos News Network

Dr. Elliott is interviewed by John Michael Chambers on the Nemos News Network. Here are bullet points of the eye opening interview.

The Fed (by previous mandate) was only able to but official government securities and were autonomous to the White House.
With the new arrangement—they were just neutered.
TREASURY DEPARTMENT will determine which markets/segments need capital (could be stocks, municipals, specific industries, even corporate debt—doesn’t appear there is a restriction)
TREASURY DEPARTMENT gets to tell the Fed to print money and how much
All the FED does is print that much money
A third party (BLACKROCK) executes the trades that the TREASURY department dictates. This gets everything out of the hands of the FED except for the printing of money.
Still not sure who determines interest rates.

Taking out the fluff, this is basically the framework of how it appears to hav been set up moving forward.

Federal Reserve