Credit.....

The number one cause of our problems stems from the fact that we've allowed the monetary/credit system to grow much faster than the economy during the last 30 years :
CREDIT grew at an average rate of 10% per annum, while the economy grew at an average rate of only 3.5% per annum. And most of the growth of the economy actually came from this accelerated credit growth and benefited only the top 1% of the population.
Please consider that CREDIT is not created by the FED but by the commercial banks and the shadow banking system, the FED just being an instrument of this network of debt creators. It's a tool, and a tool controlled by them. Getting rid of the tool and leaving the banking cartel intact won't change a thing : they'll come up with a new tool immediately thereafter. And chances are abolishing the FED without thinking of what's coming next will just accelerate the worldwide centralization of money power in the hands of the IMF/BIS.

I agree that we need a completely new monetary/credit creation system, one that obeys to the strict rule that CREDIT should not grow faster than the economy (IE where CREDIT/GDP remains more or less constant). Instead we have left CREDIT grow from 180% of GDP in the 70s to more than 350% nowadays (excl. unfunded liabilities!), and this has only benefited mainly the very few who own the banking cartel.
Whether this means abolishing the Fed is IMHO secondary. It's like building the house from the roof. WE must first agree on what that monetary/credit system must do for us, the American people. Define the requirements first, then what is the best implementation, and make sure that this is done by people who are not corrupted by the current banking/credit creation cartel, unlike most economists who are hired by them directly or indirectly and follow an economic theory, neoclassical, which was derived in the first place to benefit the banking cartel and not the American people.

But the first difficulty is that this can only be a bottom-up process. It must come from the American people who must demand it from the PTB and overthrow them if they don't respond satisfactorily.