Yes sorry I just thought you might like to post it under a libertarian ping for discussion.
As far as “auditing the Fed” goes, do you really want the current crop of Congressional Clowns” auditing the Fed?
Do you really want these a-holes to have even more intrusive power into the “central bank” then they have now?
Do you really want Barney the Homosaur & Dodd to decide what our currency is worth?
I don't see how a modern economy could function without a “central bank”, something independent of the vagaries of day-to-day politics. The Fed as I see it now suffers from too much political manipulation not too little!
I can't see how a decentralized system would function, a return to state banks each issuing a currency. Heck even private banks did that in those days. For example and Idaho state dollar might not be the same as a Vermont state dollar. How would these difference be reconciled? It seems to me it would make a mess of interstate commerce.