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. J

    Bachmann is kind of like Seinfeld. She likes to make legislation that is about nothing!
    She likes to try and ban things that aren't even legal or recognized as being legal...what a simpleton she is.

    Sadly I live in her district...sigh.

    March 26, 2009 08:21 pm at 8:21 pm |
  2. Perspicacious Chicagoan

    So if someone gives me a Canadian coin as change, can we haul them to Gitmo?
    This is pretty silly legislation – this issue is not of serious concern, but it wastes time rather than focusing on the real issues.

    March 26, 2009 08:23 pm at 8:23 pm |
  3. JON


    March 26, 2009 08:29 pm at 8:29 pm |
  4. Craig - Hastings, MN

    What is a five letter word for Bachmann? Hummm. The word idiot comes immediately to mind!!!!!!

    March 26, 2009 08:29 pm at 8:29 pm |
  5. JON


    March 26, 2009 08:31 pm at 8:31 pm |
  6. Independent

    This is the same repub NUT, who spoke of "The Real America" as if there was a fake America.....It is amazing what is in the heart of these so called Christians

    March 26, 2009 08:33 pm at 8:33 pm |
  7. Sylvia

    The end of our country is around the corner!!!

    March 26, 2009 08:34 pm at 8:34 pm |
  8. chuck

    who is this air-head?

    March 26, 2009 08:37 pm at 8:37 pm |
  9. Joe

    No nutjob like Bachmann should lead a bill for a constitutional amendment.

    March 26, 2009 08:39 pm at 8:39 pm |
  10. Donny

    Very good idea! How could anyone disagree with her? Our future as sovereign nation would be ruined by adopting a global currency.

    March 26, 2009 08:39 pm at 8:39 pm |
  11. wiseman

    What's with this nut job Bachmann. Minnesota please replace her with someone that serious. Bachmann makes your state looks bad.

    March 26, 2009 08:41 pm at 8:41 pm |
  12. B

    Good Job Michele!

    March 26, 2009 08:41 pm at 8:41 pm |
  13. I can see Canada from my house!

    Has Ms Bachman stopped to think that because the US dollar is the effective international standard for currency that we ALREADY have a global currency, and its our dollar? Honestly, where do these nitwits on the Right find these people? Bachman needs to stick to things she actually knows something about: now the only problem is finding something she actually knows something about!

    March 26, 2009 08:45 pm at 8:45 pm |
  14. Republicans are CRAZY!

    The Republicans are going to be a fringe "regional party" if they keep it up with this grandstanding about "conservative principles".

    This is a waste of time and takes away from the fact that the Republicans still don't have any alternate plan to what the Dems are offering.

    Boehner holding up an empty blue folder that says "Republican Road to Recovery" does not impress me that much.

    March 26, 2009 08:49 pm at 8:49 pm |
  15. annie - Palin 2012

    Oh why not have a new currency? The late great USA has been bankrupted by a president who is pure evil, a tax cheater, and a horribly corrupt congress full of evil and evildoers. With mandatory, volunteering civil patrols, youth camps and already to be occupied concentration camps – what's a little change in currency?

    March 26, 2009 08:49 pm at 8:49 pm |
  16. Hope

    The problem with dealing with someone who has never lived outside this country, doesnt know what she is talking about, it is not up to US.

    March 26, 2009 08:52 pm at 8:52 pm |
  17. Michael - USAF Veteran

    And another Young hip Republican that CNN is going to snipe at.

    March 26, 2009 08:52 pm at 8:52 pm |
  18. charlie

    i wonder who voted this woman back to congress... she displays her ignorance with profound arrogance

    March 26, 2009 08:54 pm at 8:54 pm |
  19. Farrell, Houston, Tx

    This woman is an idiot and is a Bush supporter.

    March 26, 2009 08:54 pm at 8:54 pm |
  20. Edward

    A bill that would prevent a global currency would do nothing to stop the Amero (US, Canada and Mexico currency) which is what people should be worried about.

    March 26, 2009 08:54 pm at 8:54 pm |
  21. Sami

    Bachman is one of the most irrelevant, confused, simple-minded persons in Washington. Her whole focus is on keeping the status quo for very specific wealthy in this country with her annoying ideas.

    March 26, 2009 08:55 pm at 8:55 pm |
  22. Kate in SW Fla

    What has happened to the fine people of Minnesota? Serioulsy, they send this fruitcake to Congress – again?

    March 26, 2009 08:57 pm at 8:57 pm |
  23. Kent in CA

    These people should connect the dots and stop the silly flag-waving. As part of an agreement on an international currency, we could demand that the Yuan be floated in international markets. We have been clamoring for this for more than a decade. This is NOT a bad thing. When our economy rebounds (and I truly believe it will), this will work in our favor as the exchange rate of Dollar to Yuan through the international currency will make our products more competitive.

    This does not mean that an international currency would necessarily be 'legal tender in the United States'.

    This isolationist behavior is short-sighted and downright dangerous.

    March 26, 2009 09:00 pm at 9:00 pm |
  24. Frank In Ohio

    Oh man is this supid conservative female day? First palin and now this fool. We certainly don't need burrs in our side like this hate monger. The idea that she is even discussing global economy with her pea sized brain is tragic. But , oh so Republican.

    March 26, 2009 09:04 pm at 9:04 pm |
  25. ANDREW


    March 26, 2009 09:04 pm at 9:04 pm |
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