Gary Johnson says auditing the Fed would cause a “worldwide panic,” praises the gold standard

The following is a two-part interview from the Kitco News YouTube channel which was filmed at this past weekend’s Freedom Fest,uploaded on July 18th, 2016 (The descriptions provided before each video are taken from the channel):

The U.S. presidential race is entering its final leg and libertarian candidate Gary Johnson is gaining momentum as polls show frontrunners Hillary Clinton and Donald Trump are losing support from the American public. Gov. Johnson sat with Kitco News on the sidelines of this year’s Freedom Fest and comments on his platform and views on the Federal Reserve. “I do think that the Federal Reserve with its dual mandate should return to a single mandate, which is to control inflation as opposed to a dual mandate of inflation and full employment,” he said. On auditing the Fed, an idea presented by his predecessor Ron Paul, the candidate warned it could have negative consequences. “The reason we’re not auditing the Fed, I think, is because it would cause a worldwide panic of sorts,” he said. “The problem, and I don’t want to say problem because I support auditing the Fed, the issue with auditing the Fed is just the shock I think that it would probably create.”

(Video length: 5 minutes, 22 seconds)

Part 2 (Video length: 6 minutes, 7 seconds):

Libertarian presidential candidate Gary Johnson is gaining momentum in the polls as American voters seek alternatives to the current frontrunners, Hillary Clinton and Donald Trump. “People are hungry to vote for somebody as opposed to the lesser of two evils and wasting your vote,” he told Kitco News at this year’s Freedom Fest. Johnson also commented on gold and the idea of a gold standard, which he says wouldn’t be a bad idea. “I would love to have commodity-based currency so I would support legislation to have competing currency,” he told Daniela Cambone. “Obviously it’s very complicated but I would like to have a segment of my assets in a commodity-based currency.”

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