Why cant America set prices by law, which would establish the value of the dollar within its borders and then print money and give it to those who qualify. Making deals with some of those who are over seas could be made with the people who import goods into the USA.
Why cant America set prices by law; and then print money and give it to those who qualify
This is the main question
So the Fed along with the US government declares that it will start controlling the prices within the US territory. There will be some simple consequences to this decision,
$1)$ Investors who invest in enterprises and corporations, big and small will run away, literally run away. This will drive the investments at an all time low. Ask yourself, why would anyone invest their hard earned cash in the US if they would not be allowed to enjoy the profits. After all, profits revenues and other benefits are a result of price flexibility.
$2)$ No price means no profit, means no investment means soon many private entities will either stop functioning or just find some other country to move to. If there are no other entities to tax on, whom will the government tax on.
$3)$ If prices remain fixed, then who will the government give its money? Who will even want the money. What good use is the money if an individual cannot buy or sell, in short have any purchasing power.
If it's illegal to raise certain prices when there's a lot of money in circulation, demand exceeds supply and there are shortages. That can be a problem even without adding more money. This has occurred in some natural disasters, when the law has called prices; and rent controls have had these effects too.
Compare to UK WWII rationing, where limited supplies were distributed fairly to prevent starvation. Customers had restricted buying power regardless of funds