How do we abolish the Federal Reserve?

The federal reserve appears to have morphed into an uncontrollable monster, which has "broken out of it's proverbial cage" so to speak, and is now galloping uncontrollably toward the final devastation of our economic system. This is all being accomplished through employment of new and unproven ideological theory versus the utilization of tried and proven economic policy. If left unchecked this agency will serve as the protagonist of an economic hypothesis which will end in the inevitable meltdown of our nations economic system. From TARP, and interest rate reductions approaching zero, to QE1 and QE2, we are seeing the Fed's use of an unproven economic philosophy trumping more logical, and empirically verifiable policy!