In filling his cabinet, Trump has thus far tapped a number of both conventional and unexpected picks. But on Monday, after meeting with Goldman COO Gary Cohn, the president-elect had a one-on-one with a wildly outlandish candidate for Treasury Secretary who has flown a bit under the radar.
Though it now appears that Trump will select Steve Mnuchin for the position, it’s worth pointing out that Trump interviewed John Allison, the former CEO of the bank BB&T. Allison was also the CEO of the Cato Institute, a self-identified libertarian think tank. Allison has openly and repeatedly called for the abolition of the Federal Reserve, along with a return to a gold standard.
In a 2014 paper he wrote for the Cato Institute, Allison explained his feelings about the controversial central banking system:
“I would get rid of the Federal Reserve because the volatility in the economy is primarily caused by the Fed,” Allison wrote.
“When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult. Markets do form bubbles, but the Fed makes them worse.”
It wasn’t his first eyebrow-raising policy position, nor was it his last. Allison also wants to get rid of the FDIC bank insurance of $250,000 and he wants capital reserves to raise to 20% of bank assets.
While Trump has announced his intent to appoint Mnuchin, who served as finance chairman for Trump’s presidential campaign, it’s noteworthy Trump would even consider a candidate who has expressed a desire to abolish the Fed. Could Trump be leaning more libertarian? With transhumanist libertarian Istvan Zoltan disclosing to Anti-Media that he’s vying for a position, it’s possible there could be an unprecedented heyday of libertarian thinkers affecting government policy.