Good point. Never thought of it that way. I've just been getting more into economics in the last few months so I'm still figuring stuff out. 

The Fed was created by the 16th Amendment, so a lot more than a presidential executive order would be needed to take it out

The current regulations may not be right, but that doesn't mean that regulations on banks are a bad idea in general. More solidly enforced stability in the banks (especially in terms of liquidity) would have prevented many of the effects of the '09 financial crisis. The credit crunch would still have cost the banks just as much, but they would have been better able to pay it.

Damn, that's rough. Has an amendment ever been removed before?

Only the 18th, which was removed by the 21st, but that was prohibition

Ahh okay so definitely not an easy task. I think it could be made easier considering how desperate the times are, ending the fed could start to get rid of tons of US debt and end inflation/devaluation of the dollar. 

Can anyone prove that? Even if one were to assume the long-term effects would be good, poking at something so fundamental to the modern economy in the short term could likely do irreperable damage that would tear society asunder anyway

Actually, I think people had enough of the fed that they would vote for an amendment to abolish the fed.  I don't see any state voting down an amendment to abolish them.  Almost everyone dislikes the fed right now.

The banking system can't collapse it's as simple as that where is the option??

Can you provide some links to where your getting your information because it seems to me like a lot of Doom mongering with a little bit of financial lingo without alot of proof, not trying to shoot you down here i just want to understand your postition alittle more

You also need a two-thirds majority in both houses of Congress. Would not happen when so many financial institutions benefit massively from the current situation, and both political parties have atleast some element that believes in deficit spending - which the fed can facilitate.

I think public mandate, coupled with a Ron Paul presidency (early on in his term), would allow for a bill conducting an audit to pass, and maybe some light tinkering around the edges. The only kind of constitutional reform that could pass would be one that isn't limiting on the current congress - say a balanced-budget amendment that doesn't come into effect until 2020. Ron Paul could still run a balanced budget earlier, but the constitution wouldn't limit it until 2020.