If you balance the budget, why do you need fiat money?

Since 1960 the supply of gold in the world has at least doubled. Thus there is some dilution.

How do you perceive the role of the FED and what, if anything, would you like change in monetary policy?

There is no role in the FED. It is just an organization to make a dozen or so banks where people don't have to work to earn a living. The fed should be abolished and I guarantee you McDonalds will still be making hamburgers and HPQ will be still making computers. They like to go to meetings and dress well to give the illusion they are doing something of value.

As for monetary policy. The best would be to abolish the fed and resign. Their role is set bond rates below market so the government can make money off of inflation. They set low interest rates to member banks, because the money was created out of nothing. Thus they can charge 0 percent or 10 percent it does not matter, they make money off it.