Former Fed President: "We Injected Cocaine And Heroin Into The System To Create A Wealth Effect"

Fisher is looking to avoid the guillotine down the road.

http://www.zerohedge.com/news/2016-03-09/former-fed-president-we-injected-cocaine-and-heroin-system-create-wealth-effect

The Dallas Fed's Richard Fisher shares key forward guidance

http://finance.yahoo.com/news/why-richard-fisher-says-quantitative-170012847.html

At Least They Are Finally Honest

http://www.zerohedge.com/news/2013-02-21/least-they-are-finally-honest

From remarks by the Dick Fisher of the Dallas Fed:

• The Fed has artificially sustained markets

Thank you for the admission, oh FOMC member. And to think just 4 years ago anyone accusing the Fed of using its "invisible hand" and doing everything in its power to solely focus on the stock market was labeled a "conspiracy theory" crackpot. One wonders what other "conspiracy theories" will be admitted by the Fed as fact in another four short years?

Art Cashin On The Only Sane Voice At The Fed

Any preconceptions of Fed omnipotence just circled the drain.  Instead of acting like prudent central bankers, they merely thought and acted like hedge fund managers gone wrong, while the commercial bankers they should have reigned in before the financial crisis were going hog wild.  Fisher appears to have been the only sane Fed governor.

http://www.zerohedge.com/news/2013-01-23/art-cashin-only-sane-voice-fed

The Hypocrite Of The Day Award Goes To...

http://www.zerohedge.com/news/2012-11-15/hypocrite-day-award-goes

While we largely enjoy Dallas Fed's Dick Fisher hawkish, non-conformist thinking at the FOMC, and his willingness to come up with amusing cartoon names to explain the Fed's monetary policy (we are currently on Toy Story, and specifically Buzz "To Infinity and Beyond" Lighyear), we certainly do not miss when even said faux Fed bad cops telegraph hypocrisy so gruesome it shows demonstrates beyond a shadow of a doubt just how fake the facade of the Fed's "contrarians" truly is. To wit:

• FISHER SAYS U.S. LAWMAKERS HAVE BECOME `PARASITIC WASTRELS'

Riddle us this, Dick: just who is it that enables the US Lawmakers to fund trillion dollar deficits year after year at less than prohibitive terms, and more importantly, who is it that since 2009 has monetized virtually all 10 Year and longer gross issuance, thereby allow Congress to be a parasitic wastrel. Would you call that someone a "Wastrel enabler"?
Do you know who that someone is, Dick? Or is the question too complicated for a mere PhD mortal to answer?

Nobody Knows What Is Holding Back The Economy

http://www.forbes.com/sites/robertlenzner/2012/09/19/nobody-knows-what-is-holding-back-the-economy/

Richard Fisher, the CEO of the Dallas Federal Reserve Bank, told a Harvard Club audience in New York tonight that not a single official of the central bank or any of the regional banks or their staffs, has the foggiest idea what is troubling the U.S. economy and what policy, if any, can get the economy “back on course.”

Fisher was the sole member of the Board of Governors to vote against the introduction of QE3, an open-ended promise from Chairman Ben Bernanke to continue buying some $85 billion of bonds and mortgages until economic growth recovers sufficiently to create significantly more jobs for the millions still unemployed.

Fisher made a worrisome point when he reported that he asked CEOs whether they would spend more money on “job-creating expansion” if the cost of borrowing was reduced by 25 basis points or 1/4 of 1%– one of the stated goals of Bernanke’s decision to do QE3. The answer; 9 of every 10 CEOs said No!!!

The outspoken central banker shocked the audience by starkly declaring; “Nobody on the committee, nor on the staffs at the Board of Governors at the 12 banks, really knows what is holding back the economy. Nobody really knows what will work to get the economy back on course.”

I call BS.  I believe some know the destructive consequences of debt monetization, one of extend and pretend.  They just can't speak the truth until they are out of office.

A Gold (And Physical Platinum) Bug At The Fed?

"Do as I do, not as I say."

http://www.zerohedge.com/news/goldbug-fed

Federal Reserve Governor Fisher warns against Federal Reserve

http://www.zerohedge.com/article/federal-reserve-warns-about-dangers-federal-reserve

A not very long time ago, in a galaxy known as the Milky Way, the member of an occult group of sinister individuals warned that should this group ever get to a point where it believed it could fix fiscal problems through printing money, this would present "a paramount risk to the long-term welfare of the U.S. economy." The group is better known as the Federal Reserve and the individual was Dallas Fed president Richard Fisher. The same Richard Fisher, who recently wrote about the FinReg unaddressed concept of how Too Big To Fail will lead to another massive systemic crash, went as far as saying that "even the perception that the Fed is pursuing a cheap-money strategy to accommodate fiscal burdens" would be disastrous, and that "the Federal Reserve will never let this happen. It is not an option. Ever. Period."

With observations such as that "we know from centuries of evidence in countless economies, from ancient Rome to today’s Zimbabwe, that running the printing press to pay off today’s bills leads to much worse problems later on", one may only hope that all those who advocate even more rampant spending and irresponsible money printing to "fix" the economy, will finally see the light. Alas, mired in their own stupidity, they won't. And Fisher's words, so prescient in 2008, yet so ignored, will suffer the same fate today, and the Fed will continue on its way to singlehandedly destroying this once great country.

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."