the federal reserve (which is a cleverly named private bank) basically usurped the government in 1913.
oh god. oh god. oh god. lmao. I can see why you don't talk politics, because you very clearly ain't know shit.
In no way is the Fed a private bank, at least not in any common use of that phrase. The defining aspect of a private bank (or other private company) is the profit motive, which the Fed absolutely does not have. Among other things. If you want to call it a "private bank" because it functions as a bank exclusively for the Federal Government and depository institutions, sure, but I don't understand why you're all up in arms about that.
In no way did the Fed "basically [usurp] the government." It has very clearly delimited regulatory authorities. To say that the Fed "basically usurped the government" is to say the same of DHS or any other regulatory body.
Also, that video you shared is pretty hyperbolic (as was the study it's based on, but that's academic rhetoric for you.) It assumes that the political views of the elites and of interest groups (like, for example, unions) are independent of the rest of the public, which, while convenient for an academic paper, probably isn't the best assumption to make. There are also a lot of issues with the operationalization of the variables in question, but that comes up in pretty much every Political Science study. Sure, there's a pretty large disparity in political influence, but to say that the opinion of the public doesn't matter at all is going a little far.
tagging /u/riggorous bc she needs to see this shit