DAVE RUBIN: Right, so what happened then to the Republican Party that should be for small government and should really be for states’ rights? The things that I think you’re saying you’re for, what happened to them that they got mucked up in these issues that really they should be (unclear)?
GARY JOHNSON: I don’t know. But they certainly have gotten mucked up, in my opinion. And with regard to Republicans, look, they’ve always hung their hat on being fiscally conservative. Well, where did that go? I mean, they wanna cut spending in social areas but they wanna increase spending when it comes to the military. They are, they’re growing government just like Democrats.
RUBIN: So is that, is that dangerous thing more than anything else? The one guy who is talking about making government smaller in this entire election cycle was Rand Paul. He didn’t even get out of the Iowa caucus.
JOHNSON: I agree, and I think that Rand Paul, really, if he wasn’t a social conservative, I think there would’ve been a lot more appeal. I happen to agree with half of everything Rand Paul has to say, but when it comes to those social issues, that’s where we part ways.
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JOHNSON: I’m in the camp that believes that there will be a monetary collapse, and it will be because of inflation and it’ll be a bond market collapse because nobody will be holding on to bonds because inflation will be rising at such a rate that bonds won’t be anything that you wanna hold on to.
RUBIN: Because basically the government is just gonna spend and spend and spend and it’s backed by…
JOHNSON: It’s back by nothing and people then recognize it. And like I say, when you get to hyperinflation, which in my opinion, at some point will be the conclusion to all of this. You’re not gonna hold on to a bond when it may be devaluing at a rate of many percentage points a day. You just not gonna hold on to it. That’s a bond market collapse.
RUBIN: Right. So it’s part of the problem then what you just explained to me, that that’s sort of lofty stuff to be talking about…
JOHNSON: It is, it is, but , but it is out there also. And how do you, how do you make it as simple as possible? A monetary collapse is when the dollars that you have don’t but a thing. So let’s just try and define it in reality. You’re not going to be able to buy anything at the grocery store because there will be nothing on the shelves. People will have recognized that you have to take all the money that you have and buy everything that you possibly can, because it’s not gonna be worth anything tomorrow. That’s a monetary collapse that has, that is something that has repeated itself in countries time and time again over the history of, uh, mankind. And we’re not immune from that.
RUBIN: So this is sort of, so that’s sort of like what happened in Greece like a year ago and everyone rushes to the banks and the banks don’t let people-
JOHNSON: It happened in Russia. It happened in Zimbabwe. Um, like I said, at some point in my opinion, is going to be the outcome of all this.
GLENN THRUSH: You're obviously critical of TARP. Would you have repeated Glass-Steagall? Do you think that there needs to be re-imposition of those sorts of regulations?
GARY JOHNSON: Yeah, and just count on me to, as president of the United States, count on me, and this is what I did as governor. You know, we did an analysis of every single bill, and at the end of the day was the bill going to make things better? Was the average citizen's life going to be improved by the legislation or, at the end of the day, was it just going to add time and money and really not accomplish anything?
Well, for the most part, time and money got added, and at the end of the day I stood up and said, "I don't think this is going to make a difference in any of our lives”. Sounds good. Looks good. It's a problem that we have. But government solving it with this piece of legislation?