Possibly.

The Fed reminds me of the movie "The Wonderful Wizard of Oz". The wizard behind the curtain only had power as long as people had confidence in his power. The Fed only has power as long as there is confidence in their creation, the US dollar. If confidence is lost in the US dollar, the Fed no longer has any power.

The power in reality is and has always been in the hands of the people. The power in the economy is in the products we make and the services we provide to improve peoples lives. The Fed's power is derived from this power and is only effective as long as people voluntarily use the money of their creation in transactions involving the trade of these goods and services. If they abuse their power long enough and enough people get discouraged by their abuse, their power will go away. Money is not the value. The goods and services are the value. Always has been, always will be. Money just facilitates the transaction of the exchange of these goods and services.

The exchange of goods and services can survive without money (albeit not very well under a barter system). Money can't survive without the goods and services. The Wall Street and banking scheme of moving money around like in a shell game is not the creation of wealth. It is the creation of goods and services in demand by the people that creates wealth. The money moving scheme is just a seigniorage that draws away resources from real wealth creation.

John