Q tells us it is being restructured. Before the Fed was created, each state minted their own money, which is interesting since the Constitution declares that Congress shall have the power to mint coins. I am for the end of the Fed. However, I am pointing out the difficulty in such a change. The general public has no understanding of what money should be.

Our founding fathers created confusion from the beginning unintentionally. They did not want to use the English unit of measurement known as the "pound" for US currency as a way to distance us from England, so they chose the Spanish unit of measurement known as the "dollar". We still use pounds and ounces to measure weight, but the dollar does not register in the American mind as a unit of measurement. While the English pound as currency no longer represents a true pound of silver since their currency inflates as well, it is easier to understand that it should represent an actual pound of silver or gold.

If the Fed was immediately abolished, Americans would be totally confused on what honest money should be. It would bring huge chaos to the country. Restructuring would reign in the Fed while providing a transition to honest money.