I want to put something like the Fed into the Constitution to get it away from the bankers and the national politicians. The top offices must be elected every 4-6 years, on the off-year, by regions that are allocated by population, with the rest appointed by the authority itself and confirmed by a committee formed from state legislatures. It must be isolated from the effect of treaties, and it may not participate in making them or consent to be bound by them. It would have one purpose, and one purpose only, to control monetary policy for the United States, and that is it.
I want this because it is readily apparent to me that Congress cannot be trusted with managing the money, and the appalling effects that are created when bankers are left to manage it (as it stands now because too many government seats are vacant and have been since 2006) are too much to take. The current situation of congress having delegated its authority, set this thing out with an independent nature and refuses to insist that its mandates be followed, is tyrannical and unaccountable, and is arranged as such, because of the length of terms for each of the policy-making seats, that error replicates itself until it crashes into the dust taking average Jane and Joe along with it. We cannot keep being ruined by hyper partisanship to the point of being unethical in our political system full of people who really do not care one way or the other about average people until elections come around, and then not really.
This amendment would create a 4th branch of government that would govern itself by the consent of the people and the states. It would be immediately accountable for mistakes, bankers couldn’t work us over, we could have enough osculation in leadership that would make it impossible for one entity or another, intent on error, to dominate it for decades, and the best of all, neither congress nor the executive could mess with it.
Seriously, this issue with deflation and debt is far too dangerous of a place to be and it sickens me that our politicians use the Fed as a political weapon, knowing what the stakes are for average working people. It is so bad, as far as I am concerned, that someone should be in jail for doing this to us. Bernanke’s head should be on a pike after he is water boarded into telling us who is the mastermind of the conspiracy to stick it to the Democrats in this way, leaving millions to be financially destroyed – on purpose. I don’t like Democrats, but I cannot and will not ever condone such schemes for the purpose of doing political battle.