Comment: Not entirely correct...

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Not entirely correct...

The first correction is eliminating the Fed wouldn't "give them power to coin silver and gold etc."

The U.S. Constitution gives Congress that power. They still have it. They control the Mint; and that's why they can make the popular gold/silver U.S. Eagle coins (which Ron Paul worked to bring back).

Next, it is absolutely the responsibility of Congress to control money. The key thing to remember is that the Constitution says the States can make nothing but gold and silver legal tender.

That means Congress is perfectly capable of making something like the dollars we have now, and back them with gold/silver if desired. The States could then make that legal tender. However, Congress could remove that gold backing too, but the States would no longer make the notes legal tender. Instead the value would only come from whatever the free market gave, which probably wouldn't be much without gold backing.

The reason Congress gave over control to the Fed is so nobody can be accountable. Congress is directly accountable to the people, since we can elect or kick people out of office if we're not happy. But with the Fed messing up the money nobody can do anything because they are an independent body.