I'm all for ending the Fed. The only issue I see is that in the short term there would be a deep recession as all of the Fed created bubbles pop. The government would also have to massively shrink as it could not possibly survive as large as it is without the ability to print money (I'm totally in favour of this, just to be clear). It would be like enduring a hangover after a night of binge drinking. The short term pain would be well worth the long term gain, but there will be pain.