Shocking, but revealing quotes from the Fed

In rare moments of candor from Federal Reserve officials:

"The last duty of a central banker is to tell the public the truth."

— Alan Blinder, Vice Chairman of the Federal Reserve, in an interview on The Nightly Business Report on PBS, 1994

Dallas Fed President, Richard Fisher, espoused [in a rare moment of clarity and candor] back on April 16, 2007,

“I have spoken in previous speeches of our “faith-based currency,” a term I use only slightly tongue in cheek. The dollar—like the euro, the yen, the British pound and other currencies—is what economists call a fiat currency. It is backed only by the federal government’s power to raise the revenues needed to meet its obligations and by the rectitude of the U.S. central bank. If the market were to lose faith in either assumption, the dollar would be debased.”

This is an article about Robert Mundell, "Father of the Euro":
http://www.dailymarkets.com/contributor/2008/10/20/china-should-buy-all-imf-gold-father-of-the-euro-robert-mundell/

"China Should Buy All IMF Gold Says “Father of the Euro” Robert Mundell

Robert Mundell, the Nobel Prize-winning economist from Columbia University who is regarded as the inventor of the euro told the annual fall dinner meeting of the Committee for Monetary Research and Education (the CMRE) in New York that China, with its huge dollar surplus, has a great interest in buying gold to hedge its dollar exposure but is unlikely to do anything disruptive to the world economic order.

Mundell proposed that if the International Monetary Fund really does sell its gold, as is occasionally proposed, China should purchase all of it. Since Mundell is officially an adviser to the Chinese government, presumably it already has heard this suggestion from him."