Congresswoman introduces bill that would ban "global currency"

[i]This is yet another episode of the ongoing current interest in a proposed "global currency" introduced by Russia and China and at least initially embraced by President Obama's Treasury Secretary. Secretary Geithner's comments caused an uproar yesterday in the value of the dollar (as well as fears of international control over the exchange rate). Now, a Republican Congresswoman has introduced a bill to prevent any sort of "global currency." [/i] - Chris

[b]Bachmann bill would ban global currency [/b]
by Eric Zimmermann
The Hill
26 March 2009, 1:31 PM ET

WASHINGTON DC - 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:

“Yesterday, during a Financial Services Committee hearing, I asked Secretary Geithner if he would denounce efforts to move towards a global currency and he answered unequivocally that he would," said Bachmann. "And President Obama gave the nation the same assurances. But just a day later, Secretary Geithner has left the option on the table. I want to know which it is. The American people deserve to know."

On Monday, Geithner and Bernanke both rejected the idea of a global currency in Congressional testimony. But in remarks to the Council on Foreign Relations yesterday, Geithner indicated he was open to the idea.

Click [url=http://briefingroom.thehill.com/2009/03/26/bachmann-bill-would-ban-global-currency/]HERE[/url] to read the article.

Click [url=https://www.sermonindex.net/modules/newbb/viewtopic.php?topic_id=28007&forum=48&3]here[/url], [url=https://www.sermonindex.net/modules/newbb/viewtopic.php?topic_id=27959&forum=48&4]here[/url], [url=https://www.sermonindex.net/modules/newbb/viewtopic.php?topic_id=28040&forum=48&2]here[/url] and [url=http://www.politico.com/blogs/bensmith/0309/Geithner_open_to_China_proposal.html?showall]HERE[/url] to read other recent threads about a proposed "global" currency.

The congressman needs to do more study on the issue. Nobody is proposing to abolish the dollar and force American citizens to use another currency. The issue is with the IMF (International Monetary Fund) replacing the dollar with another currency as a reserve currency. Google IMF and 'reserve currency'. If the dollar is replaced, it will hurt the value of the dollar, so I am against it. But nobody is talking about 'replacing the dollar with a global currency'.

Hi TrueWitness...

Actually, this Congresswoman is attempting to stop what seems to be a concerted effort by leaders around the world to create an international exchange currency. Since the dollar is the standard currency traded around the world (for oil, gold, etc...), this would diminish the dollar's stability. Even after the advent of the Euro, the dollar still comprises between 60-70% of international exchange currencies. Its greatest quality is the stability it offers in international markets.

Revelation 13 offers insight into an international currency exchange by which no one on Earth can buy or sell without a mark. It seemingly indicates an international body that would be given authority over the monetary exchange. This new effort seems to be at least a step in that direction. American leaders have traditionally opposed any sort of effort in this direction...but new Treasury Secretary Geithner was the first to ever verbally acknowledge any support to such an idea.

You might want to look over the other articles in the accompanying links. It is clear that certain international actors are in favor of replacing the dollar with a global EXCHANGE currency. If this were to happen, why would nations NOT want to replace their own currency for the stability of an international one?

:-(