(Radio Iowa) – Republican Jim Carlin, a candidate for U.S. Senate, says there need to be major changes in U-S monetary policy. “The Federal Reserve needs to be audited and I think you need to balance the budget or cap the money supply,” Carlin said. “And I think you need to look, you know, as crazy as this sounds, maybe look to return to a gold and silver backed currency.”
From 1879 to 1933, the U-S had the gold standard, which fixed the supply of currency to the amount of gold held by the federal government. Critics say the gold standard prevents governments and central banks from lowering interest rates when there’s an economic crisis. Supporters like Carlin say it will stabilize the value of U.S. currency and promote savings.
“If we’re honest about ourselves and we see where things are trending as it relates to our kids and our grandkids and what their future looks like…one of the big things they’re going to have to deal with is where the government is redefining our economy and making things a lot more expensive in housing and health care and student loans,” Carlin said. “You add the cumulative effect of those things and it makes it a lot hard to realize the American dream.”
Carlin made his comments during a campaign stop in Estherville. He’s running against Congressman Ashley Hinson in the Republican Party’s Primary for U.S. Senate.
