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. Leah DiMarco, Texas

    Why are there so many nuts in the republican party?

    March 26, 2009 07:09 pm at 7:09 pm |
  2. Ryan, Philidelphia, Penn

    Oh god, thank you.
    Globalization needs to be taken a notch back...and I definitely don't think this currency thing is a good idea.

    March 26, 2009 07:10 pm at 7:10 pm |
  3. rummrunner

    i applaud rep Bachmann.a global currency would be one more step toward the day when 'no one can buy or sell without THE MARK'.

    March 26, 2009 07:10 pm at 7:10 pm |
  4. tigerakabj

    Just like the idiot down in Florida who wants a bill that checks up on presidential birth certificates, Bachmann has too much time on her hands.

    Her party got skewered today b/c the lied (surprise?) about having an alternate budget and came up empty. They would rather scream and yell from the sidelines about the economy, education, healthcare, but coming up with concret, well-thought out solutions is just too hard.

    The American people as a result will respond accordingly in 2010, just like 2006 and 2008. I know I will.

    March 26, 2009 07:10 pm at 7:10 pm |
  5. Simmy

    ..."despite congressional testimony from Obama administration officials that they would reject any proposal to replace the dollar."

    White House officials have already said that the president does not plan to embrace any proposals to replace the dollar. Ms. Bachman, what is your problem? You miss being racked through the coals by Chris Matthews? No one has mentioned your name in the media lately? Please get a hold of yourself – You are a non-threat. Cease and desist.

    March 26, 2009 07:10 pm at 7:10 pm |
  6. Peter

    Michele Bachmann needs Dr. Phil.

    March 26, 2009 07:11 pm at 7:11 pm |
  7. rar

    We don't need an amendment to the Constitution to prohibit the U.S. from adopting a currency issued by an entity other than the U.S. Congresswoman Bachmann needs to introduce meaningful legislation that addresses real problems. As you recall this is the same Michelle Bachmann that called on Congress to investigate members who are "unAmerican". No administration official has proposed adopting a global currency. Her actions over and over pander to her extreme right wing base of supporters. She should concencrate of fixing real problems instead of wasting her efforts on something no one is even considering. Show some leadership Michelle!!

    March 26, 2009 07:11 pm at 7:11 pm |
  8. Merrill

    Michelle Bachmann is dumber than a block of cheese.

    March 26, 2009 07:14 pm at 7:14 pm |
  9. SamSunny

    So everyone has said they won't go for a global currency, and yet, this person is wasting legislators time on a bill saying the same thing? Why are some people so slow to understand what is important in the moment, and what they do is just get in the way of progress?

    March 26, 2009 07:17 pm at 7:17 pm |
  10. marciab

    this woman needs a muzzle put on her also ann coulter needs one.

    March 26, 2009 07:20 pm at 7:20 pm |
  11. Fan of Common Sense

    If B.O. gets his way, the U.S. will be a fully a fully socialist country ruled entirely by the corrupt U.N. Unless the American people wise up soon, it's only a matter of time.

    March 26, 2009 07:21 pm at 7:21 pm |
  12. Fan of Common Sense

    If B.O. gets his way, the U.S. will be a fully socialist country ruled entirely by the corrupt U.N. Unless the American people wise up soon, it's only a matter of time.

    March 26, 2009 07:22 pm at 7:22 pm |
  13. Megan

    Can someone get this lady back into her padded bird cage please?

    March 26, 2009 07:26 pm at 7:26 pm |
  14. Debra, NY

    Makes me so angry that my great-grandmother fought so hard and suffered so greatly to get women in this country the right to be educated and to vote....only to have women like this dunce get into positions of power...

    I propose a constitutional amendment that prohibits paranoid freakshows from holding public office.

    March 26, 2009 07:26 pm at 7:26 pm |
  15. Bruce from SC

    Question does this have the potential to backfire. .

    I mean, what stops other countries from just saying "screw the dollar", and use other currencies. I mean how much of a say does the US have in that matter, if a large amount of countries chose another currency?(Some one explain this because, i don't understand the whole world/reserve/currency market)

    I would prefer the World Reserve to be a dollar, because its gives us a little bit of an edge, but I mean, if the Chinese get a word of this. Couldn't
    't they just stop buying US debt, since they see the US trying to make the dollar permanent in a sense. I mean i wouldn't want to play chicken with my major banker.

    March 26, 2009 07:29 pm at 7:29 pm |
  16. get rid of campbell brown

    what a complete nut-job. doesn't she have anything better to do than waste congress' time with meaningless legislation? oh, that's right...the republicans aren't doing much else

    March 26, 2009 07:31 pm at 7:31 pm |
  17. Joanna

    Why does she make up these types of things. She is insane. Who the hell is talking about a global currency? Apparently only her and a few other loonies. They can not come up with solutions to real issues so they have create fake issues. Get a life.

    March 26, 2009 07:35 pm at 7:35 pm |
  18. ttofast70@comcast.net

    Igonorant COW

    March 26, 2009 07:37 pm at 7:37 pm |
  19. Tariq

    First: foreign countries have already taken into consideration an American VETO on switching from US Dollar to a Global currency....they were never expecting the US to jump on that band wagon.

    Second: even if foreign countries were waiting on American permission, President Obama has openly ruled out going along with that idea...so no reason to get all worked up with a bill

    Third: Bachman is simply trying to claim credit with a bill that will prevent something Obama was never going to sign on to, and that never had jurisdiction in Global decisions

    March 26, 2009 07:38 pm at 7:38 pm |
  20. Aaron

    This woman really needs to find something useful to do.

    March 26, 2009 07:38 pm at 7:38 pm |
  21. bt

    Stop the New World Order !!

    March 26, 2009 07:40 pm at 7:40 pm |
  22. fred

    Have you ever watched Hypocracy watch on this woman on David schuster show msnbc at 6pm. She comes off talking from both sides of her mouth...

    March 26, 2009 07:41 pm at 7:41 pm |
  23. suzyku

    another rethug loser! anything she says has zero credibility, she's an idiot!

    March 26, 2009 07:42 pm at 7:42 pm |
  24. Frank, Las Vegas

    I;m sorry but this woman is a disgrace to MN and truly an IDIOT.

    March 26, 2009 07:42 pm at 7:42 pm |
  25. VAisforLovers

    What is she yacking about?! Obama has already stated that he would not entertain the idea of global currency... hasn't Bachmann already learned a lesson about opening up her mouth and saying ridiculous things?!

    March 26, 2009 07:43 pm at 7:43 pm |
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