Gold

"The second reason is that when the government inflates the money supply they are really taxing the public in a truly pernicious and largely invisible way. I hate it when the government can tax the public without standing up and saying, "Hey, we're taking the money." It is an abdication of the responsibility to justify government policy to the public."

This is why the Federal Reserve is the circumvention of representation.

It is also an unapportioned direct tax. The Federal Reserve is taxation without representation and a violation of the Constitution.