There is perhaps only one seasoned practitioner of the art remaining, and its skills with the blade set it a league apart from all of the clumsy novices and decrepit old geezers - the Federal Reserve. This lethal organization is currently at war with the natural and creative forces of institutional destruction.
By all accounts from the surface of the battlefield, it is winning. The tradition of the "Samurai Fed" is best represented by the U.S. currency (debt-dollar) and the massive U.S. treasury market. Their value must be defended by the Fed at all costs, or else the wealth of global financiers evaporates and the crucial battle is lost, which, in turn, may cost it the entire war.
The Fed's sharpened steel is now nothing more than a credit-printing press and the executive authority to purchase debt assets from banks in the "open market". Private credit markets have been thoroughly neutralized by the ongoing siege of debt deflation, and national governments must therefore pump increasing amounts of liquidity into these markets to maintain global order. However, there is only so much liquidity to go around, and the funding requirements of national/local governments are only getting exponentially larger.
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