Cain: ‘We’ve got to beat Mitt Romney’s money, not Mitt Romney’

Even so, Cain believes it’s better to admit when he doesn’t know something than to try to act like he does. “I’m going to continue to do that,” Cain said. “I’m not going to try to fake it and we’re not going to put out a spin memo if I flub something. No, I’m going to say, ‘I did not know this piece. Now I do. Ask me the question again.’”

Another criticism of Cain is that he served on the board of the Federal Reserve in the 1990s, and Ron Paul-types have trouble supporting that. Cain, though, told TheDC he’s “not ashamed” of his time with the Federal Reserve. “I am proud of what the Federal Reserve did back in the 1990s for this country and for our monetary system,” Cain said. “But, the things that were done in the ‘90s are totally different than the things that are done today. And, anybody that wants to criticize me for what the Federal Reserve is doing today because that’s the kind of narrow-sighted incorrect view of my experience on the Federal Reserve. I can’t say ‘I’m sorry I served on the Federal Reserve.’ That’s just simply not going to happen.”

Cain said that he wouldn’t oppose an audit of the Federal Reserve but wouldn’t make that a priority by any means. “I never said I would block an audit of the Federal Reserve,” Cain said. “What I have said is, if somebody wants to audit the Federal Reserve, go ahead. Secondly, I don’t think you’re going to find anything. Thirdly, it’s not going to be my issue. You’re not going to have that on Herman Cain’s top 20 things that he’s going to do as president.”

Cain also said that though he’d consider a vice presidential bid if he doesn’t win the nomination, he’s most certainly not gunning for the number two spot now.

“It would depend upon who got the nomination, it would depend upon what role that they saw for me and it would depend upon whether it was the right thing for me,” Cain said. “Now, to be clear, I’m not running for VP. I’m running to get the nomination to become president.”