March 26th, 2009
06:04 PM ET
11 years ago

Bachmann bill would prohibit global currency

Bachmann has already been assured that the United States will not adopt another currency.

Bachmann has already been assured that the United States will not adopt another currency.

WASHINGTON (CNN) - Rep. Michele Bachmann has introduced a bill that would prohibit the president from signing on to a global currency, despite congressional testimony from Obama administration officials that they would reject any proposal to replace the dollar.

In hearings earlier this week, the Republican congresswoman called on Fed Chairman Ben Bernanke and Treasury Secretary Timothy Geithner to denounce the idea that the United States might adopt any other currency. Both men did.

Bachmann's bill, introduced Wednesday, proposes a constitutional amendment "to prohibit the President from entering into a treaty or other international agreement that would provide for the United States to adopt as legal tender in the United States a currency issued by an entity other than the United States."

During Tuesday's hearing, Bachmann pointed to recent remarks from Russia and China as part of the basis for her concern - comments suggesting that countries which have used the dollar as their reserve currency might begin to consider other sources. But those decisions, which would be made by foreign governments, would be unaffected by any congressional legislation, and would have no impact on U.S. currency decisions.

Bachmann's bill has been referred to the Judiciary Committee.


Filed under: Michele Bachmann
soundoff (215 Responses)
  1. Jeffrey in Georgia

    A constitutional amendment? Really? Seriously? When I started reading this article, I thought, well, hmmm, I'm against global currency, I like the dollar, maybe I would support a bill, it seems a bit excessive, but maybe there's cause for a bill that states . . .

    And then I got to the constitutional amendment part. Constitutional amendments are NOT to be used for petty crap like this! Constitution amendments should PROTECT rights, not limit things.

    March 26, 2009 06:52 pm at 6:52 pm |
  2. Shirley in California

    We all know what the "B" stands for in her name and its not Bachmann.

    March 26, 2009 06:53 pm at 6:53 pm |
  3. South Carolina

    Praise God fot this woman's integrity regarding the proposal on the constitutional amendment "to prohibit the President from entering into a treaty or other international agreement that would provide for the United States to adopt as legal tender in the United States a currency issued by an entity other than the United States." Copied from the above post. Everything I have suspected about Obama and I am sure many others feel the same is that he is very much against what America stands for and is on his way to causing us to deteriate from within. Why have enemise when we already have this one?

    March 26, 2009 06:53 pm at 6:53 pm |
  4. Scott

    This woman is insane. But she knows how to get attention and we give it to her!

    March 26, 2009 06:54 pm at 6:54 pm |
  5. Anonymous

    Bachmann does not understand what a reserve currency is.

    March 26, 2009 06:55 pm at 6:55 pm |
  6. Dylan from Minneapolis

    And the winner for the most useless piece of legislation goes to...

    March 26, 2009 06:55 pm at 6:55 pm |
  7. jt

    makes palin look like a friggin genius.

    March 26, 2009 06:55 pm at 6:55 pm |
  8. KR

    This repub needs to get a life and when she wants to run the country then run for president. Bet she would never make it.

    March 26, 2009 06:55 pm at 6:55 pm |
  9. Andrew Nelson in Illinois

    Ok, is there anyone else who is sick and tired of the craziness that is Michelle Bachmann? She just blabs one stupid thing after another and does it to get attention.

    March 26, 2009 06:56 pm at 6:56 pm |
  10. KR

    This repub needs to get a life and when she wants to run the country then run for president. Bet she would never make it. I have seen articles on other sites pertaining to her and she is just another repub trying to make Obama fail. She must have been talking to good old Rush.

    March 26, 2009 06:57 pm at 6:57 pm |
  11. MC- Atlanta,GA

    This woman is a whack job. She proved that with her comments about anti-american view crap during the campaign last year.

    March 26, 2009 06:58 pm at 6:58 pm |
  12. Robin in Tampa Fl

    Going to a super currency is hypothetical at this point. I think enacting such a law now based more on emotions and not an facts may end up hurting us *IF* it becomes necessary to goto such a system in the future.

    March 26, 2009 06:59 pm at 6:59 pm |
  13. speak

    That's right, the rest of the world would move forward while we tied our own hands. Thanks Michele.

    March 26, 2009 07:00 pm at 7:00 pm |
  14. Robert

    We have to protect against Obama's excesses before they happen. Otherwise, a Brave New World is not far away. Bravo Michelle.

    March 26, 2009 07:01 pm at 7:01 pm |
  15. Di

    Finally someone remembers we have a CONSTITUTION! Obama needs to be stopped!! If the election was held today, Obama would loss. We the people have been shown his true colors! ENOUGH IS ENOUGH!!!!

    March 26, 2009 07:01 pm at 7:01 pm |
  16. Dave in Stillwater

    Oh...I see our resident nut-case is at it again. We can only hope that last November's backlash sticks around long enough to show her the door – we need an effective voice in Washington...not a laughing-stock.

    March 26, 2009 07:02 pm at 7:02 pm |
  17. David

    What a ridiculous waste of air.

    The real issue is if other countries start dropping the dollar as their reserve currency, the value against other currencies will fall like the stock market did in the last few months. This bill does nothing to stop this from happening. I believe it's real purpose is to distract people from the real danger if other countries drop the dollar. It may make is feel better but has no real benefit.

    March 26, 2009 07:02 pm at 7:02 pm |
  18. Freddie

    Bachmann is a crazy woman. What is wrong with this woman and she should be jailed and removed from the USA. This woman is crazy. The Republican are crazy and CNN should stop covering these idiot.

    March 26, 2009 07:02 pm at 7:02 pm |
  19. Linda K.

    Good. This needs to apply to all future presidents also.

    March 26, 2009 07:03 pm at 7:03 pm |
  20. Steve in St. Louis

    Thanks for nothing, Barb. Now go away, or try to actually accomplish something meaningful.

    March 26, 2009 07:04 pm at 7:04 pm |
  21. Tyler

    At some point a global society needs a global currency.

    There was a time when the colonies all had their own money, but eventually realized the strength in unity under a federal currency.

    It's only a matter of time. I can't wait for it.

    March 26, 2009 07:04 pm at 7:04 pm |
  22. Stephen

    Wow, she really is a lunatic.

    March 26, 2009 07:06 pm at 7:06 pm |
  23. chris

    This girl is off her rocker.

    March 26, 2009 07:07 pm at 7:07 pm |
  24. Joe

    Lady, You are nuts!! Rumor has it Obama is an alien, I'm talking from outer space!! Just a test to see if that another topic she'll take up and run with!

    March 26, 2009 07:08 pm at 7:08 pm |
  25. Ron

    First of all this lady is just a little bit creepy. She looks like a stepford wife. Second, who said anything about a global currency. The GOP have run out of things to blame Obama for, now they are pulling problems out of the air.

    March 26, 2009 07:08 pm at 7:08 pm |
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