Ending the Fed but keeping the regulations?

Economics Political Theory
1

Would it still be desirable to end the Federal Reserve system if the states and federal government continued to regulate the banks?

What is wrong with this scenario:

As I see it, the federal reserve is powerful enough to act free of legislation and regulatory oversight. The Fed in that respect is the country’s only bank free of regulation.

But without and strong unregulated Fed, ever stricter banking/usury/insurance laws would squeeze extant banks, leading to bank failures, paving the way for the re-founding of the federal reserve.

Is it only desirable to end the Fed only with constitutional amendments to ensure all banking activities are kept completely deregulated?

2

Actually if they just got rid of legal tender laws everything would be groovy. They can print as much money as they want as long as no one has to use it.

3

So if we elect Robert Mugabe everything will work out? [;)]