Figmo: I won't argue against the fact that The Fed isn't the greatest thing around. There's plenty there that needs investigating and cleaning up.

HOWEVER - the Fed *did* keep us from the boom/panic cycle that USED to be the American economy.

A lot of people have argued about getting rid of the Fed with a number of reasons ranging from reasonable to far-out-loony. What is missing from EACH AND EVERY ONE of these argumetns is what to replace it with. Go back to the Gold Standard? Impossible - our economy is too big. There is no longer enough gold/silver/platinum/etc in the entire planet to back up just the American economy, never mind the rest of the world. I mean, do you REALLY want the US Dollar to be replaced by the South African Rand (because they produce far more gold than anyone else)?