Would one of you “end the fed” Baws explain to me what would replace it?

Last night I was at my moderate neighbor’s house. And she was all above the fray, per usual gettin all “both sides”

She did start explaining to me that everyone all presidents are a problem because their monetary policy sucks, essentially. I told Her - well - I don’t disagree with you, so what’s the solution? What’s the correct money policy?

I felt my dander go up bc she started blaming regular people bc they just spend too much money and won’t save. I was like WTAF?? This federal reserve full of angels you think should hypothetically exist creates this fricking problem and you think the solution is for them to just not eat? fricking groceries cost 20% more.

My assertion to her once I calmed down was - The problem isn’t the way the Fed is managed but the structure of it. It’s different than the COTUS bc the structure of the institution is designed to make sure that power is controlled by competing powers. The fed has no countervailing power- so they just ultimately do whatever the frick they want.

I distrust any NGO, and I know innately that Fed is the worst of them all. So I asked her (bc I was and still am) honestly ignorant - so we both agree the Fed is fricked up. I think the structure is bad bc people are not angels, and there’s no perfect federal reserve chairman or banker-you think the solution is just finding someone better at the job and people not being able to afford a house?

I then said - well frick it - let’s go full Andrew Jackson and scrap the whole thing. And asked her - what happens then? She had no good answer except that the gold standard would somehow put too much power into gold people or something. That didn’t make much sense to me. And bitcoin is confusing AF.

I did buy a copy of End the Fed but it won’t be here till Tomorrow.

So, in the meantime baws, explain to me like I’m stupid (bc I need this in simple terms): your Austrian economics dreams come true and there’s no more fed. WHAT THE frick HAPPENS?