Ron Paul, Author of ‘End the Fed,’ to Lead Fed Panel

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Good, the federal reserve is unconstitutional and should be eliminated. If we're stuck with a central bank it should be audited heavily.

I doubt 10% of the population could explain what the Fed even does.

I doubt 10% of congress could explain what the Fed even does.

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Since Libby is now finally gone I suppose I might get a real answer instead of "OMG STATIST FASCISM BLAH BLAH BLAH" if I ask how regular crashes are going to be avoided without a central bank like the Federal Reserve which is the whole reason it was created.

Did a helluva job preventing the '29 crash, so you have a good point.

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I'd also like an explanation for how currency creation and circulation is going to be managed without the Fed

The federal government managed to print currency before the fed.