There's an old Rolling Stones song with the lyrics, " You can't always get what you want, but you get what you need." That stated, I believe it is very applicable to our situation. The REALITY is that the Federal Reserve will continue to exist despite our protestations. That said, what is the next best course of action with respect to the Fed? I believe it is to push for its nationalization. Here's why---with nationalization comes ACCOUNTABILITY and TRANSPARENCY. Presently, the Fed conceals much of its activity from public as well as from government scrutiny. By making it a part of the government, Fed officials would be made subject to ethics laws as well as impeachment. Today, House Banking Chairman expressed concerns over the new proposals by the Treasury Secretary to grant the Fed vast new powers. I plan to contact Frank to urge him to consider Fed nationalization and I believe others should do the same.
Also, wanted to refer you folks to a radio talk host who is an expert on the Fed. See link below: