Congresswoman Tries to Legislate Dollar's Challenges Away

Are the dollar's days numbered as the world's reserve currency?  Not if  Congresswoman Michele Bachmann has her way.

Earlier this week, Rep. Bachmann swung to the defense of the US Dollar, on the heels of China asking for a new world reserve currency.

From Rep. Bachmann's website:

In response to suggestions by China, Russia, and other countries around the world calling on the International Monetary Fund to explore a multi-national currency, U.S. Representative Michele Bachmann (MN-6) has introduced a resolution that would bar the dollar from being replaced by any foreign currency.

“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."

If you're interpreting her comments the same way I am - then I think that Michele believes the US is considering using a basket of currencies to replace the dollar within our borders.

Ah, you can't make this stuff up (hat tip to Agora Financial for uncovering this gem of a news item).

In fairness to Michele, as I'm right now digging through her website to find more material for, well, jokes, to be quite honest - I found her Twitter feed, which actually impressed me, as she is apparently quite the fiscal conservative.

In fact, here is a video of her calling for the Obama administration to cut the capital gains tax rate to ZERO - along with cutting the business tax rate down to 9%!

And she bashes the Federal Reserve and US Treasury!  Wow, have to admit I'm quite impressed.  What an emotional rollercoaster ride this column has been for me.

I was going to finish this colum with a few cheapshot jokes and call it a morning, and I left with a new fantasy girlfiend - low taxes and libertarianism ideals are always the way to my heart.  Just goes to show, you never know when love comes walking in.