LAS VEGAS – When asked about the role of the Federal Reserve and whether or not to audit the central bank, Libertarian candidate Gary Johnson said it might not be such a good idea.
The reason the Fed is not being audited is because it “would cause a worldwide panic of sorts,” he told Kitco News at the Freedom Fest convention.
However, he continues, “Government should be transparent.” People should be aware of, “how many assets do they hold and in what categories? What percentage of government bonds are they buying? What is the portfolio when it comes to mortgage-backed securities? Are they buying stock? What equities do they hold?”
With regards to his campaign platform, he said that, “Whatever comes out of Congress that’s going to lower taxes, I’m going to support.”
“I’m not getting elected king, I’m not getting elected dictator,” he added, “but if I could wave a magic wand, I would eliminate income tax, corporate tax, I would abolish IRS and replace all of it with a single, national consumption tax.” He wants people to look at the Fair Tax as a template.
He also said that the idea of having a gold standard is not a bad idea.
“I would love to have commodity-based currency so I would support legislation to have competing currency,” he said. “Obviously it’s very complicated but I would like to have a segment of my assets in a commodity-based currency.”
When asked about the smear campaign between presidential candidates Trump and Clinton and if he would feel the need to follow in that path, he maintains that he doesn’t need to go down that road and name-call his opponents. He previously ran for governor and never had to criticize his opponent. On that topic, he concluded, “vote your conscious.”
Full interview below:
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