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OK, this is a joke, right? Rep. Michele Bachman is introducing legislation to bar the U.S. dollar from being replaced by a foreign currency.
Yesterday, I noted some "confusion" among conservatives about China's proposal that a new international reserve currency be establshed. Several noted conservatives, including Rep. Bachman, Glenn Beck, and Matt Drudge touted China's proposal as a call for a new international currency, replacing native currencies.
I suppose the question to ask is whether Drudge, Bachman, Beck et al. don't understand the difference between a reserve currency and a global currency or whether they do, in fact, understand and just want to confuse and alarm their listeners. (Link)
Well, the question seems answered, at least with respect to Ms. Bachman. She doesn't know the difference. From her website:
In response to suggestions by China, Russia, and other countries around the world calling on the International Monetary Fund to explore a multi-national currency, U.S. Representative Michele Bachmann (MN-6) has introduced a resolution that would bar the dollar from being replaced by any foreign currency.
“Yesterday, during a Financial Services Committee hearing, I asked Secretary Geithner if he would denounce efforts to move towards a global currency and he answered unequivocally that he would," said Bachmann. "And President Obama gave the nation the same assurances. But just a day later, Secretary Geithner has left the option on the table. I want to know which it is. The American people deserve to know."
Asked today about a currency proposal from China at a Council on Foreign Relations event, Secretary Geithner stated he was open to supporting it. Despite attempts to clarify his remarks later in the day, the unguarded initial response calls into question his true intentions.
To clarify; Rep. Bachman asked Sec. Geithner whether he supported a global currency. He replied he didn't. Later, Sec, Geithner was asked whether he supported the Chinese proposal for the establishment of an international reserve currency and he answered that he was "open to the consideration". Two separate questions. Two separate answers.
Michele Bachman represents Minnesota's Sixth Congressional District. My condolences.
Comments
Why should anyone believe anything Tim Geithner says?
Geithner can't remember to pay his taxes, and BTW he also forgot about the deal he made with Chris Doodd to sneak in the AIG bonus's in the
Stimulus Bill that nobody got a chance to read.
Yeah he's realy trust worthy!
Or Maybe he's just a lying sleezy tax cheat!
So if Congresswoman Bachmann doesn't trust his lying words, I don't blame her!
Good job, Michele! I'm glad somebody's looking out for us. Thanks from the backwoods of Orygun.
Bob
Condolences to all of Minnesota because we are represented on a national level by someone like Bachmann. She is not looking out for anyone, just fear-mongering
Thank you Ms. Bachman! Every American Should support this and HR 1207. What Geithner, The FED, OBAMA and Most of our Senate and Congress is doing is not only unconstitutional, but it is treason also.
China called for a "new global reserve currency", so the writer of this page has their facts wrong, and does not understand the situation. Thank you Rep. Bachmann for looking out for America.
This is much better than passing an unconstitutional bill of attainder to use the IRS to punish people.
Happy,
Aw, come on. This is just as stupid as that was.
Jay, when addressing neo-cons you have to speak on a "My pet goat" level: China has proposed a new international currency reserve FOR TRADE AMONG NATIONS. The new currency would not replace any national currencies. Bachmann and those who suffer from similar confussion are idiots.
Nobel-prize winner backs world currency
March 11, 2009
Article from: Agence France-Presse
KAZAKH President Nursultan Nazarbayev has won backing for his plan for a single world currency from an intellectual architect of the euro currency, Nobel-prize winner Professor Robert Mundell...
I say we use Mexican pesos.
Bachmann's resolution is born of the mixed messages coming from the Obama camp. Obama says he opposes a new global reserve currency, and Geithner said he's open to it (then changed his mind). Being wary of slippery slopes, Bachmann just wants to ensure that no attempt is made to change our domestic currency. It would also be a huge mistake to endorse a new global reserve currency (dropping the dollar) for international trade, and Geithner was an fool to even say he was open to it. It caused the dollar to drop.
All i can say is thank god for people like her Beck Drudge and THE GREAT ALEX JONES we need to protect this country from the Billderberg group and there minions like obama
Tom P.,
Obama was never asked if he favored or opposed a new global reserve currency. He was asked if he favored a new global currency. He replied no.
Geithner was asked (by Rep. Bachman) whether he supported a new global currency. He replied no. He was later asked if he supported a new global reserve currency. He replied he was open to it.
There were no mixed messages.
Jeremiah,
So?
Seriously, I doubt that Obama even understood the question. Geithner too.
In any case, it can't hurt to ensure through a resolution that the dollar stays our national currency AND though we can't legislate it, do all we can to keep it as the global reserve currency. And it would greatly help if Obama and Congress would stop spending like drunken sailors and looking to expand gov't, when we should be tightening our belts and focusing on providing a better business climate with less taxes on the employers and consumers.
I ran with the proposal at the link below. Blog toe in water exploring. I searched out a story this am on Backman and u'all came up. I didn't understand there was a trade currency only slant to the idea. Probably blame sound-bite reporting. The MSM did a number on her last night for opening the dialog wideopen. I will remind the MN Rep & u'all it wasn't long ago the Amero had a foot in the door (imo). That's a Mexico America Canada common currency. With the persistent free trade negotiations with Columbia I wouldn't doubt they were to be in to. This latest collapse of the monetary system has the resemblance to the Euro on the way back burner .. right now this new idea is floating around this crapper :-)
"You comment cannot contain links" OK it at The Big Picture / tab Digital Media / chinese-holdings-of-us-assets
It frightens me that the Republicans #1 don't have any clear and defined, i.e. detailed, plans to constructively debate Obama's very detailed and reasoned plans. Just stating "no" to everything Obama proposes, and coming up with a alternative budget that only has 1 detail in it: massive tax cuts for the wealthy, is not a sign of intelligence.
#2 This debate about our currency is scary. Why does Michele, et al not understand what China, et al are proposing? They are not proposing the elimination of the U.S. currency. They want to protect themselves from having to deal with another financial mess that the U.S. created and had a disastrous domino effect across the world. The reserve fund would do this.
I would have more respect for Republicans if they would admit that the U.S. got the world into this mess. We need radical ideas to get us out of it. Ignorance and fear baiting like Michele does is frightening.
First it was the 19 page republican "budget" with no numbers, and now Bachman is trying to start an armed revolt because of some lie she made up.
And republican nutjobs are eating this up. Amazing.
Just look at some of the fools on here. Calling Obama a socialist/marxist anything they can think of to get people to read the story. Makes for good headlines. Why is it these same people do not consider the rich paying 15% in taxes and the middle class paying 30% in taxes. That is socialism by definition. Every tax is socialized and redistributed. Dems redistribute to the poor/middle class, Republicans redistribute to the rich.
The washington post did a story on this and explained it all very well. But even some crafting ones can spin it.
Plain and simple. Tim has said no to ditching the dollar. Yet, Bill, Sean, and Rush still find a way to spin. Do people realize that Lee Harvey Oswald killed John F. Kennedy cause he thought John was a communist? Just remember if something like that would happen, all hell will break lose. And Michelle would be wise to find a hole and hide in it.
endthefed: You seem to be the average Ron Paul tool. What would happen if the fed was destroyed? Would it be like a magic pixie stick and fix all the financial woes we have? Go back to the gold standard? When there isn't even enough gold in the world to account for the U.S. GDP.........
O and Ron Paul had some of the biggest earmarks in a recent bill. His district takes in more money then they put into taxes. Does that make him a socialist as well? You realize that Ron Paul doesn't support capitalism, he supports anarcho-capitalism. A prime example of the only country in the world that still uses it is....... Somolia......
It's all to funny. Watching Libertarians and Republicans bitch and complain about the size of government. Why is it the government always gets even bigger with republican control? Reagan increased the size of government more then Clinton. Reagan increased the debt 2 trillion and created 16 million jobs. Clinton increased the debt 1.5 trillion and created 22 million jobs. 8 Trillion of our debt is from republican presidents. And the best part. People still think the republicans are fiscally responsible. They have never been, and never will be.
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