Why Not End the Federal Reserve?
There is a very good reason not to go with the time-tested cliche uttered by many a follower of Congressman Ron Paul.
the Fed may cause more harm than good. Most “end the Fed” people
assume that we’d go onto sound money (like a fixed gold standard or a
rules-based monetarist regime), but if the President and/or Congress has
the authority to eliminate the Federal
Reserve, they also have the authority to alter American monetary policy
on a whim. If you think that elected officials would do a good job
with monetary policy, remember – they can’t even manage basic things
half the time.
Michael Fisk, source