What’s up folks?! It’s been a second since I’ve posted. Between going on a mini-vacation and subsequently catching a mini-cold (at least I hope it’s mini), I haven’t devoted much time to following the world. For that matter, I haven’t thought much about anything. But before I get too blogospherically rusty, I thought I’d post something; the first notable thing coming to mind.
Imagine my suprise when I opened my email this morning and saw a message with “Bachmann fights to protect the dollar” in the subject line. Given that I’ve spent most of the day dedicated to pulling off April Fool’s Day pranks, I thought this was a joke. Unfortunately, it was not:
“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.”
As much as I wanted this to be an April Fool’s Day prank, this loon is serious. And of course, she has her supporters:
Initially, I was not so quick to go after Bachmann. Perhaps she needed clarification on what Geithner’s comments meant. But, as far as I can tell, he has provided clarity on his comments. The President, meanwhile, has explicitly been against any ideas of altering the centrality of the U.S. dollar from the start.
None of this was enough for our dear Michelle Bachmann to rethink this nonsense about ‘saving’ the U.S. dollar.
Giving Bachmann the benefit of not knowing what is going on in her head, I’m assuming she mistakenly thought Geithner was an advocate for changing the currency of our country as opposed to changing the world’s reserve currency, what was really being discussed. I’m no economist, but even I don’t think it is in the world’s best interest to have the dollar – as unstable as it is right now – carry the weight of the world’s reserve currency. But assuming that Bachmann knew that Geithner (and countries like the UK, China, Japan, and German) really meant – about moving away from the dollar in the global schema – what the heck is this proposal all about? As much as our Congress may think their power is infinite, not even they can tell other nations how to back up their reserves.
Perhaps we should check Bachmann’s blood/alcohol content each time she reports to work.
– ACL
The Unmitigated Word 
I’ve always thought Bachmann was off her rocker…and I still do. But when I saw that China and Russia were endorsing a plan to basically allow the IMF to create a new global currency, I was a little nervous. Indeed, thoughts of the “one world government” started to form in my head. I agree that the U.S. dollar is not strong enough right now to be the backing for the world’s reserve currency, but I’m hoping that a stronger currency will be – without the need to consolidate.
Hey Dre,
Great Post! By the way, welcome back. I’ve been dying to comment on this issue. (suprise, suprise.) I totally agree with MSNBC on this one. This is a manufactured issue brought about by China’s statement that they were unsure of the stability of the U.S. dollar and our Treasury Bonds. BULLSHIT!!! All China was doing is making a thinly veiled threat against U.S. protectionism prior to the G-20. Here’s what they were really saying; “If the U.S. starts restricting exports from China we might just cash in some of our U.S. Treasury bonds, thereby forcing the U.S. to print money and risk inflation.” the Republicans are using this to bring up fears of a New World Order just like they did during the Clinton administration. The truth is: most of the world uses the Dollar because it is the most stable currency in the world. Just look at how the dollar is fairing during this crisis! It’s risen against all major currencies including the Euro. OPEC does not price it’s barrels of oil in dollars because they have to. It’s because they know we can’t manipulate it to bring the price of oil down. No one wants a global currency, Europe will be damn lucky to keep Germany on the Euro. This is a manufactured issue to fire up the wacked-out far right and to spread fear of something that couldn’t happen if we wanted it. Blakeman should have worn his aluminum foil hat on-air.
I’m sorry to get off topic here somewhat, but can somebody PLEASE tell me what the Rethugicans stand for these days? I mean, who are they?! If you can answer that one, I’ve got two shiny nickels for you.
Are they the old, stubborn, and unchanging white men like McCain? Are they the political ditzes like Palin and Steele? Are they they loud loony tunes like Rush, Cheney, and Bachmann?
Your answer…please?
Lord. I’m glad I don’t live in Minnesota. The Timberwolves are no picnic either.
Fear not, Megan. By this time in 2010, Michelle Bachmann will be a thing of the past. Whatever popularity she barely had to narrowly beat out her opponent is dwindling each time she says something stupid. I really think most Minnesotans are embarrassed to have her.
Hey Andre,
” Between going on a mini-vacation and subsequently catching a mini-cold (at least I hope it’s mini),”
Was this all done in a Mini-Van? 🙂
Isn’t it getting to the point that when China says jump, we’re gonna have to say “how High”?
I know I’m worried about it.
@J. Alex,
Two whole shiny nickels? Heck, with the economy the way it is, I’ll take a shot at it. The Reps are in flux, much like the lost Dems after the Republican Revolution of 1994. There is an inside battle (which is why they seem so off-message) going on between the moderates that feel they should become the “Democrats Light”, with less accent on Gay Marriage and abortion, and the neo-cons who feel they should go back to their roots, meaning Social Conservatism and Fiscal Conservatism. The argument for the Moderate Reps is that the demographics are turning against them and if they don’t adjust they will never win. The neo cons believe that the past elections have had more to do with a failed foreign policy, an unpopular President, and a bad economic downturn, then anything that the Democrats stand for. On the whole, I believe the neo-cons are right. Gay Marriage is an unpopular concept. I.E. Proposal 8 that passed in California, the most Liberal state in the union and the 29 states that have a constitutional ban on GM and another 19 that ban GM but not in their Constitution. Reps usually win the argument on security also and if we’re attacked (the Reps are secretly hoping) it will propel them right back into power on that issue alone. They are also trying to regain the title of fiscal conservatives by attacking Obama’s huge spending bills and hoping people will forget the less-than frugal spending by G.W.. Abortion will become another plus issue if the Dems push unpopular notions like no parental notification which will influence moderates over to their side. The big problem they have right now is finding their new “Messiah” to push their message of a return to Fiscal conservation, family, traditional values, and security.
There, did I earn my nickels?
@Richard Froggatt ,
I’m worried too. But so far all they want is no protectionism and that, I believe, is a good thing. It very scary to think we’ll become puppets on a string due to our foreign carried debt, Which is why we should think long and hard before we fall too much further into it.
Feel Better Handsome ,
interesting read by the way , as usual!
one thing for certain ,
it is not a MINI Brain you have !LOL
does it make your head tilt to one side !!!LOL (I have to tease out of pure jealousy SUPERSmartypants , at least we all know you use your powers for good ,tee hee )
HUGS and God Bless
hey Andre,
What? no basketball post?
i hope you’re feeling better. i had back-to-back colds within the past couple of months because of this crazy weather we’re having. at least it wasn’t the flu.