The KEY element of this proposal is that each Fed district bank is made INDEPENDENT of the DC governing board. This effectively isolates the NY Fed which according to Catherine Austin Fitts (http://www.solari.com) is responsible for about 80% of the current economic mess we're now in. Secondary regional conventions can then decide if the district banks are to be retained. I am opting for a Constitutional Convention to accomplish this because I believe Congress is too compromised by Wall Street $$$ to enact the necessary reform legislation.

http://groups.yahoo.com/group/NationalC ... nvention06

The proposal has merit, except for one thing: How are you going to insure a constitutional convention is any less corrupt than congress? How are you going to keep such a body from being owned and controlled by the current money powers that control everything else?