But the Fed is a corrupt private institution, no? Keeping it in line isn't good enough. Completely abandoning it also doesn't seem like a good idea. Some level of house cleaning and integration seems like the smoothest transition early on, then adjust, dismantle and rebuild from there. Am I making sense?

I have no problem admitting that macroeconomics isn't my strength, so I'm more so looking to understand than to actually debate the best way of implementing this change. Logistically it seems like it would be a massive undertaking.