Y'all would be really sad if we ended the Fed, the US Treasury issued its own fiat, like Greenbacks, and next to nothing actually changed, because actual issuance of broad money takes place not at the Fed, but in the private banking system. Most dollars in the world never even come into the United States.

There's a Eurodollar rabbit hole just waiting for you. Maybe ask Nik Bhatia about it.

The Fed is about as central as Jupiter is. Had it been central we'd never have left the Bretton Woods gold peg.