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Obviously, I haven't succeeded in defusing the political concerns about the Fed.

The Fed should make a clear commitment to stable money to reduce the swings in interest rates and inflation. Instead, it champions and flaunts unstable money. This encourages momentum trading and the growth of derivatives. Meanwhile, layers of financial regulation make Washington bigger and more powerful but don't fix the underlying problems.

The Fed is the biggest enemy of this economy. In fact, Ben Bernanke, as far as I'm concerned, he's public enemy No. 1. We're never going to have a recovery while this guy's in charge.

Of course I've already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.

Now that I'm a civilian again, I can once more comment on economic and financial issues without my words being put under the microscope by Fed watchers.

The Fed's independence is critical.

I will maintain the position that, long-term, a strong and dependable dollar is in the best interests of the United States while recognizing that, at times over the long-term, that may not be the case.