We need to say thanks to the Federal Reserve bankers for their years of service as we bid them adieu. We need to let them know their services have outlasted their usefulness (assuming for the moment they were ever necessary) and set them on their way. We need to let them know we (the American people) will take it from here. Now that a more full understanding of their true nature and intent has been demonstrated, it's time for us to take the reigns of this economy back from the bankers and allow good public policy to drive our country's financial interests.
It won't be easy. For the last one-hundred plus years the Federal Reserve System has affixed the economic community with its indispensability. There is an entrenchment that suggests only private bankers can know what is best for us all. Based upon years of boom and bust cycles, high unemployment, low wages and economic stagnation, however, we now know the economy can be better managed outside of the interests of the banking community.
It's time for us to break the free money addiction of the Fed. It's time to make the Federal Reserve System truly Federal by incorporating best practices into and within the Treasury Department. Good public policy awaits.