""You just might want to better explore the reasons the Founders did NOT want banks that were NOT controlled by the people.""
so the founders were communists??? that's the first time ive ever heard that.
Of course not, but they in no way shape or form wanted fiat currency. I think the article the below excerpt is from explains why the Fed is unconstitutional very well. IMHO it's called property rights, when the Fed inflates our money they lower it's purchasing power, that's theft in my book. Plus it's the mechanism Congress needed to deficit spend - the reason this pig is so bloated and a circumstance the founders abhored.
http://www.mises.org/mysteryofbanking/mysteryofbanking.pdf
Given this dismal monetary and banking situation, given a 39:1 pyramiding of checkable deposits and currency on top of gold, given a Fed unchecked and out of control, given a world of fiat moneys, how can we possibly return to a sound noninflationary market money? The objectives, after the discussion in this work, should be clear: (a) to return to a gold standard, a commodity standard unhampered by government intervention; (b) to abolish the Federal Reserve System and return to a system of free and competitive banking; (c) to separate the government from money; and (d) either to enforce 100% reserve banking on the commercial banks, or at least to arrive at a system where any bank, at the slightest hint of nonpayment of its demand lia bilities, is forced quickly into bankruptcy and liquidation. While the outlawing of fractional reserve
as fraud would be preferable if it could be enforced, the problems of enforcement, especially where banks can continually innovate in forms of credit, make free banking an attractive alternative. But how to achieve this system, and as rapidly as humanly possible? First, a gold standard must be a true gold standard, that is, the dollar must be redeemable on demand not only in gold bullion, but also in full-bodied gold coin, the metal in which the dollar is defined. There must be no provision for emergency suspensions of redeemability, for in that case everyone will know that the gold standard is phony, and that the Federal government and its central bank remain in charge. The currency will then still be a fiat paper currency with a gold veneer.