Sec. of Treasury Tim Geithner, responding to his counterpart in China who suggested a possible need to go to a global currency, said he was open to the idea. China, after all, is looking out for their own interests (as it should be), but indicates they are apprehensive about looking out for ours in buying up more of the United States’ debt. On second thought. It would be helpful for the U.S. if China just said ‘no mas’ in financing our debt and the debt of our grandchildren. But I digress.
Because Geithner’s initial response was as ambiguous as the President’s initial response, Rep. Michele Bachmann (R-MN) has introduced legislation that would “bar the dollar from being replace by any foreign currency.”
I’m down with that. This sounds like bi-partisan legislation, doesn’t it? Won’t it be interesting to see who would not support that bill?
As soon as a bill number becomes available, I’ll update that right here.
While I’m on the topics of the obvious, here’ s another one. How about a bill to require legislators to read bills before they sign them? That, and to make them available online for the public to examine at least 72 hours before voting. I’d rather hold Obama to his 5-day promise when he was campaigning. A promise he has yet to keep. It isn’t a bill yet, but one of those online petitions.
related link: Bachmann bill would ban global currency | ReadTheBill.org
