When governments move quietly in currency markets, the public rarely sees the hand that steadies the scales — yet the resources spent belong to ordinary citizens. Senator Elizabeth Warren's demand for transparency over the Treasury's July 31 yen intervention, the first U.S.-Japan coordinated currency action in nearly thirty years, is less a partisan skirmish than a perennial question about democratic accountability: who decides when national treasure crosses borders, and on whose behalf? The Exchange Stabilization Fund, powerful precisely because it operates with little congressional oversight