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

Bachmann bill would prohibit global currency

[cnn-photo-caption image= caption="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. Don

    This woman is a real hypocrate. I hope the sooner the people know that the better!

    March 26, 2009 10:23 pm at 10:23 pm |
  2. LaRon

    Can't say I'm surprised. She's an idiot.

    March 26, 2009 10:28 pm at 10:28 pm |
  3. Robert

    Bachman is disgusting, grandstanding, and sounds like an airheaded Joe McCarthy sometimes. I know my family in Northern MN did not vote for her. What idiots did? Really...

    March 26, 2009 10:29 pm at 10:29 pm |
  4. Chipster

    Since the President has no plans to enter into a treaty or International agreement to adopt any currency than the U.S. currency, I'm not certain why Bachmann is wasting time on this. However, if it keeps her busy for a while, maybe it will prevent her from creating problems here. If she feels the need to be involved in foreign legislation, perhaps she needs to relocate her office in at least one of those nations.

    March 26, 2009 10:30 pm at 10:30 pm |
  5. Campaign for liberty

    Thank you Michele Bachmann, this bill sounds like it abolishes the Federal Reserve!

    March 26, 2009 10:32 pm at 10:32 pm |
  6. Linda from Minnesota

    She is a fringe lunatic from Minnesota. No one should pay any attention to her.

    March 26, 2009 10:33 pm at 10:33 pm |
  7. Mississippi Mike

    At least someone in Washington thinks we should remain a sovereign nation. A global currency may seem like a good idea on the surface but it would hand our monetary policy over to an entity we don't control and if you haven't noticed, the rest of the world hates us.

    March 26, 2009 10:38 pm at 10:38 pm |
  8. Joe the Troll

    I guess it worked to get her name in the news, anyway.

    March 26, 2009 10:42 pm at 10:42 pm |
  9. JB56

    Jeez, I thought this woman's brain exploded on November 5th. Maybe it did and she didn't notice.

    March 26, 2009 10:50 pm at 10:50 pm |
  10. Kathy in Minnesota

    Minnesota's State Bird is at it again.

    What the heck happened to her crusade to save the Incadescent Light Bulb???

    March 26, 2009 10:54 pm at 10:54 pm |
  11. brian

    Perhaps none of the staffers spoke in tongues?

    March 26, 2009 10:57 pm at 10:57 pm |
  12. Powder

    Now she is a real Patriot! Not like that traitor in the oval office.

    March 26, 2009 11:02 pm at 11:02 pm |
  13. Drew Williams

    Good lord, does this woman realize the difference between the currency the global economy is liked to - which happens to be the dollar right now - and the US domestic currency, of which NO ONE has suggested replacing? Idiot.

    March 26, 2009 11:04 pm at 11:04 pm |
  14. ruth

    Can this woman read? Obama said he would reject any proposal to replace the dollar?

    March 26, 2009 11:05 pm at 11:05 pm |
  15. Richard A. Spomer, Alexandria, VA

    It is clear that one lie has to participate with the same lie time, and time again now that we have Fed Chairman Ben Bernanke and Treasury Secretary Timothy Geithner on the same table; how long before President Obama joins them. Then it will be stand by my man all over again.

    We need to keep the United States of America independent, and out of union with a global banking proposal. So Mr. President do not weaken the dollar any more than you already have!

    March 26, 2009 11:11 pm at 11:11 pm |
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