There are dozens of functions the Fed has now that are not specified in the Constitution. Many are not needed, but many are. It is not 1789...
Then the Constitution needs to be amended. This isn't rocket science! I'd be curious how you would word the amendment that specifically gives over States rights to the federal government and allows the federal government to put its nose wherever it pleases. It probably wouldn't be pretty.
A national standard with a minimum bureaucracy can do it. It would not be a bad thing. What we have now does not work, but it does not mean it is invalid as a concept.
You are arguing socialism over the free market and then saying "really it can work!" Where have I heard that before? Since you are on a conservative forum you might ask yourself why conservatives think that socialism is an inferior system.
"The inherent vice of capitalism is the uneven division of blessings, while the inherent virtue of socialism is the equal division of misery."- Sir Winston Churchill
Ok, we’ll do it your way, the little jap kids won’t beat us bad for a long time...