It seems that those who originated and adopted this idea do not understand what a “reserve currency” is. Since shortly after the end of World War II, the world has had a currency that is de facto dominant and has been held by central banks around the world as a reserve (much in the way the world held gold reserves before World War II). That currency is the United States dollar. The fact that a global consensus is emerging against this practice is a powerful statement indicating a lack of confidence in the U.S. economy. But it has nothing to do with the creation of a “global currency.” Nonetheless, this incident is extremely useful: it allows us to pinpoint economic illiterates. Which leaves an important question: how do illiterates get such swift access to the airwaves?Even being generous and granting that she simply doesn't know much about economics, it is extraordinary that the idea has gone so far as to be introduced legislation. I mean, doesn't proposing legislation involve a team of people and at least some time for reflection?
Scrap idiocy as a way to describe Bachmann. Bring on absolutely insane.
Bachmann: Right now I'm a member of Congress. And I believe that my job here is to be a foreign correspondent, reporting from enemy lines. And people need to understand, this isn't a game. this isn't just a political talk show that's happening right now. This is our very freedom, and we have 230 years, a continuous link of freedom that every generation has ceded to the next generation. This may be the time when that link breaks. And I'm going to do everything I can, I know you are, to make sure that we keep that link secure. We cannot allow that link to break, because as Reagan said, America is the last great hope of mankind. where do we go--One might legitimately disagree with Obama's budget, but here we're talking about people from cuckoo land. I know this has been around a long time. My family is true-blue Republican conservative. I disagree with them on a lot of things, but I've always been able to understand them. The current wave of absolute hysteria on the right, however, is an incomprehensible leap out of reality formed through the most simplistic, superficial, incoherent, and almost always hypocritical understandings of the terms they purport to worship - like "freedom." Or even just something as basic as "economics." If Bachmann weren't a Republican hack, she might be considered an unstable threat to the people around her. But we apparently coddle in politics what in the real world would be called insanity.
Hannity: The last great hope of man on this Earth.
Bachmann: Do we get into an inner tube and float 90 miles to some free country? There is no free country for us to repair to. That's why it's up to us now. The founders gave everything they had to give us this freedom. Now it's up to us to give everything we can to make sure that our kids are free, too. It's that serious. I hate to be dramatic, but--