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. Jim, Tacoma


    I worry sometimes. A global currency would be a bad choice now, but I don't think we should tie our hands in that way. There may be a time in the future when a global currency is important. The Euro has helped to create a structural strategic community in Europe, and we should not be closing off possible means of overcoming the Security Dillema.

    March 26, 2009 09:05 pm at 9:05 pm |
  2. Danny

    Haven't we already done that by replacing the true US dollar with so called Federal Reserve notes? The constitution states clearly what a dollar actually is. It also states clearly that the power to coin money and regulate it's value is given to the Congress. That power can not be given to another entity. And certainly not a private corporation such as the Federal Reserve. We sold old a long time ago with the Federal Reserve Act.

    March 26, 2009 09:05 pm at 9:05 pm |
  3. Melissa

    What a totally idiotic idea.

    March 26, 2009 09:09 pm at 9:09 pm |
  4. Ray Fisher

    If America ever abandons the dollar as our currency, our nation will fall faster and more completely than Rome!!! And we are very close to falling even with the dollar...

    March 26, 2009 09:15 pm at 9:15 pm |
  5. bill williams

    Stupid is as Stupid does.

    What a waste.

    March 26, 2009 09:15 pm at 9:15 pm |
  6. Dan, TX

    This woman is too stupid to be true. I used to have high regard for Minnesota, but for crying out loud, this woman is annoying.

    March 26, 2009 09:20 pm at 9:20 pm |
  7. C


    March 26, 2009 09:23 pm at 9:23 pm |
  8. Me

    How is this NUT CASE still in congress. Shes an ABSOLUTE HEAD CASE!!! Anything anti American loon says should be shot down at once! She is such a bad representation of my state. Shame on those that voted her ignorant face back in!!!

    March 26, 2009 09:23 pm at 9:23 pm |
  9. Jan in MI

    This is the same lady that said some of the representatives in congress were Anti well as Pres Obama.

    Why would we care what she has to say....I can't believe she was re-elected. I guess that's MN for you.

    March 26, 2009 09:24 pm at 9:24 pm |
  10. Greg, San Francisco, CA

    So she's introducing a bill to prevent something that everyone has already agreed they would never allow to take place. Sounds like typical political grandstanding to me.

    March 26, 2009 09:24 pm at 9:24 pm |
  11. rep find another issue

    I don't think a soul wants global currency, she is wasting our time

    March 26, 2009 09:32 pm at 9:32 pm |
  12. Mike from Canmore

    Yes, MS. Bachmann is a marginally smarter version of the Republican yummy mummy, but replace the dollar? Get real. The closest thing to an international currency is the U.S. dollar. Whether your in Mexico, Canada, the Phillipines or Indonesia, somebody will take your money in markets and movie theatres. If the UK will not give up the pound, whay would the US give up the dollar. What a delightful distraction. It's great that a party with an affinity for spitting on the Constitution has such affinity for the greenback.

    March 26, 2009 09:33 pm at 9:33 pm |
  13. Phil MN.

    Every time this woman opens her mouth I'm ashamed to be from Mn.

    March 26, 2009 09:35 pm at 9:35 pm |
  14. Dick Marple

    Isn't thedollar defined as one troy ounce of silver? That is what is imprinted on the coins coming out of West Point mint as this is written. These coins are being sold as a commodity by the corporate government through brokers, distributer and dealers for FRN's. Perhaps a review of Senator Peter Rodino' repeal of HJR 192 ,September 13, 1982 and the repeal of the "legal Tender" authority that went along with that congressional action should be of serious concern, and the fraud that is apparent addressed with criminal action. Attention Michele Bachmann !

    March 26, 2009 09:39 pm at 9:39 pm |
  15. MCD, San Francisco, CA

    Sounds to me like these people are falling for their own propaganda! Everybody on the right is freaking out about what our President is GOING to do tomorrow, next week, next year. They all act like they have known him for years and are privy to some hidden agenda. Good grief!

    The american people elected him to do exactly what he said he was going to do. They can try to demonize Obama as much as they want, the American people are wise to their ways.

    March 26, 2009 09:40 pm at 9:40 pm |
  16. Mark

    They should change the name of the Republican Party to the 'Idiot Tree' because whenever it's shaken more idiots seem to fall out.

    March 26, 2009 09:54 pm at 9:54 pm |
  17. Linda in MS

    Right, this issue ranks right up there with flag burning, school prayer, and teaching evolution in public schools. What is this woman thinking?

    March 26, 2009 09:55 pm at 9:55 pm |
  18. Not my Minnesotan

    What a whack job, sure wish she had not been granted another term.

    March 26, 2009 10:00 pm at 10:00 pm |
  19. Wolf-Woman Palin Charlotte, NC

    Please find this woman a padded cell. She lives in an imaginary world.

    March 26, 2009 10:01 pm at 10:01 pm |
  20. Stella

    I cannot believe this woman was elected to the House! Does she plan on becoming the new "head" of the Republican Party?

    March 26, 2009 10:04 pm at 10:04 pm |
  21. Zach-Nebraska

    Can we please get this woman out of Congress? If calling Democrats unpatriotic isn't enough...

    March 26, 2009 10:06 pm at 10:06 pm |
  22. chuck

    How about a bill that would prohibit ignorant Republican representatives from having a thought process?

    THAT is a bill that truly would be good for this country.

    March 26, 2009 10:07 pm at 10:07 pm |
  23. Eileen

    This woman is nuts.

    March 26, 2009 10:08 pm at 10:08 pm |
  24. PA

    She lives in her own head.

    March 26, 2009 10:09 pm at 10:09 pm |
  25. Pat CA

    What? No bloviating from the LIberals on this? Guess this issue is beyond their intellectual capacity, e,g,, above their "pay grade."

    March 26, 2009 10:14 pm at 10:14 pm |
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