Read the whole post at Economonitor
I must admit that I’ve long been skeptical of [President Andrew] Jackson’s followers, who insist we’d be better off without a central bank. Surely we need someone to set the overnight interest rate, we need check clearing, and we need a lender of last resort. But maybe it’s time to think about an alternative to the Fed.
Time to Abolish the Fed? Maybe Andrew Jackson Was Right, After All
For the record: Some MMT proponents have been recommending for some time that the central bank and treasury functions be formally consolidated under the Department of the Treasury.