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> Not sure which is better.

How about neither. The Fed was created in 1913 and can be abolished.

We could also get rid of the Air Force, Space Force, etc.

The only constitutional federal military is the Army and Navy! (Article 1, Section 8)

Or just recognize that it was created because of a long history of severe painful crises, and considered the 'least bad' option compared to JP Morgan having to bail out the US Economy (and hence wielding incredible power). [https://www.crf-usa.org/images/pdf/jpmorgan.pdf]

The devil you know, or the devil you don't.

Nothing like a "long history of severe painful crises" to excuse throwing out the rules...

Distrust of king's standing armies led Constitution to allow army for two years.

https://constitution.congress.gov/browse/essay/artI-S8-C12-1...

"To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years"

Maybe we could amend the Constitution if we want the standing army.

Good luck with that!

For sure. The treasury is the most morally correct decision maker for economic policy in every facet. It really comes down to a question of sovereignty, which should be in the hands of the people through elected officials.

But what are the consequences? Do those consequences make us vulnerable?

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