Bachman Bill Would Ban Global Currency

The Hill ^ | 3/26/09

[FromLori]

Rep. Michele Bachmann (R-MN) has introduced legislation that would "bar the dollar from being replace by any foreign currency." A statement from Bachmann's website:

[FromLori]

I like her she was our Rep. before we moved out to the country in Wi. to get away from all the Lunatics in Minn.

[anniegetyourgun]

That’s nice.

[CGASMIA68]

Sounds like some common sense.....Gezzz I hate that

[GulfBreeze]

Woops... I posted right after you...
They pulled mine LOL

[GeronL]

they won’t have to ‘replace’ the dollar to do it. just like they won’t have to call it the fairness doctrine.

[Regulator]

Palin / Bachmann 2012

[Secret Agent Man]

One batch of loonies to another. Madistan and Gov. (I want commuter rail) Doyle.

[Sarah Barracuda]

She’s awesome!! And she tells it like it is

[righteousindignation]

terrific idea!! Heard Michelle Bachmann on Hannity radio yesterday and she is right on target and a great communicator for conservatives!!

[Lesforlife]

Great plan by a great representative.

Sadly, the spineless wonders in DC will never pass such
a principled measure.

[newfreep]

If a vote can be taken on this, it will demonstrate who supports America and who does not...although we really don’t need much more evidence.

[devistate one four]

She’s a fire cracker alright, and we need more MEN like her and Palin!

[Red_Devil 232]

Wow! She and the other cosponsors are proposing and Amendment to the Constitution.

Proposing an amendment to the Constitution of the United States to prohibit the President from entering into a treaty or other international agreement that would provide for the United... (Introduced in House)

HJ 41 IH

111th CONGRESS

1st Session

H. J. RES. 41
Proposing an amendment to the Constitution of the United States 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.

IN THE HOUSE OF REPRESENTATIVES

March 25, 2009
Mrs. BACHMANN (for herself, Mr. HENSARLING, Mr. PRICE of Georgia, Mr. SHADEGG, Mr. KIRK, Ms. FOXX, Mr. PITTS, Mr. BARTLETT, Mr. MCCLINTOCK, Mr. GINGREY of Georgia, Mr. WAMP, Ms. FALLIN, Mr. FLEMING, Mrs. BLACKBURN, Mr. BROUN of Georgia, Mr. AKIN, Mr. ISSA, Mr. KING of Iowa, Mr. BURTON of Indiana, Mr. GOHMERT, Mr. THOMPSON of Pennsylvania, Mr. LAMBORN, Mr. PAUL, Mr. CULBERSON, Mrs. BIGGERT, Mr. BROWN of South Carolina, Mr. JONES, Mr. POSEY, Mr. ROE of Tennessee, and Mr. CONAWAY) introduced the following joint resolution; which was referred to the Committee on the Judiciary

---

JOINT RESOLUTION
Proposing an amendment to the Constitution of the United States 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.

Resolved by the Senate and House of Representatives of the United States of America in Congress assembled (two-thirds of each House concurring therein), That the following article is proposed as an amendment to the Constitution of the United States, which shall be valid to all intents and purposes as part of the Constitution when ratified by the legislatures of three-fourths of the several States within seven years after the date of its submission for ratification:

`Article—

`The President may not enter 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.’.

[Regulator]

Actually I don't think we can wait till 2012...we need to impeach the Kenyan now and put Sarah and Michelle in charge before more damage get done.

It's too bad that the only people in the "Republican" party who aren't sniveling boot lickers are a pair of females, but if that's who we got, that's who we need...

[USFRIENDINVICTORIA]

How will this bill stop other countries from replacing the U.S. greenback as the world's reserve currency? Whether the instrument is a “world currency”, or SDRs, or simply a basket of currencies; a unilateral declaration by the U.S. won't stop them. The way for the U.S. to preserve reserve currency status, is to restore the trust in the greenback of trading nations & particularly of creditor nations. Obama’s spending spree is making creditors antsy — they know they risk getting shafted by debt monetization & the resulting devaluation of the dollar.

[GLDNGUN]

How will this bill stop other countries from replacing the U.S. greenback as the world's reserve currency? Whether the instrument is a “world currency”, or SDRs, or simply a basket of currencies; a unilateral declaration by the U.S. won't stop them. The way for the U.S. to preserve reserve currency status, is to restore the trust in the greenback of trading nations & particularly of creditor nations. Obama’s spending spree is making creditors antsy — they know they risk getting shafted by debt monetization & the resulting devaluation of the dollar.

Agreed, but her bill would serve several purposes. First, it puts Obama and the democrats on the spot and on the record. Secondly, it puts a kink in the plans of those who want a global currency. Third, this bill can get passed a lot quicker than Obama "restoring the trust in the greenback". Let's pass the bill AND do as you suggest.

[kenavi]

Her proposed bill is a wonderful way to spook the market.

[GLDNGUN]

Her proposed bill is a wonderful way to spook the market.

Spook what market?

[Ernest_at_the_Beach]

I guess these type of transactions would be easier to handle:

AIG posts 500 million pound collateral on Canary Wharf leases