The leftosphere smells blood in the wake of Bachmann's denunciation of Treasury Secretary Timothy Geithner's comments suggesting an "openness" to the displacement of the U.S. dollar as the world's reserve currency. Eric Kleefeld's got a post up right now, "Bachmann Blasts Obama's 'Economic Marxism,' Calls For 'Orderly Revolution' To Save Freedom." Here's the key quote from the audio:
At this point the American people - it's like Thomas Jefferson said, a revolution every now and then is a good thing. We are at the point, Sean, of revolution. And by that, what I mean, an orderly revolution - where the people of this country wake up get up and make a decision that this is not going to happen on their watch. It won't be our children and grandchildren that are in debt. It is we who are in debt, we who will be bankrupting this country, inside of ten years, if we don't get a grip. And we can't let the Democrats achieve their ends any longer.Just so folks are clear, notice how Bachmann clarifies her point: "And by that, what I mean, an orderly revolution ..."
No matter. Matthew Yglesias is on the hunt, "Bachmann and Beck Double-Down on Currency Conspiracy Theory." And Steve Benen diagnoses Ms. Bachmann as insane:
Bachmann simply isn't well. Were she not an elected member of the U.S. Congress, she'd probably be shouting conspiracy theories and holding cardboard signs on some sidewalk somewhere. But what I find especially interesting is that her paranoid delusions are so detached from obvious truths. If Bachmann wanted to complain that a 39.6% top rate was the epitome of Marxism, she'd be just another conservative. But she's convinced herself that the Obama administration will "move us to an international currency," due entirely to her breathtaking stupidity.Gird your loins, conservatives!
Bachmann's proposed resolution to protect the dollar as the country's sovereign unit of exchange is perfectly justified in light of monetary history and the outlandish comments from Secretary Geithner. Advanced economies are not inoculated from supranational pressures toward monetary homogenization or unification, as the case of the European Union indicates. Once Ms. Bachmann refers to "One World Currency," the only logical reference point is to a national currency unit that would replace current dollar hegemony worldwide. There is no alternative for circulation within borders for everday tendered transactions. More abstract currency units, for example, the IMF's "SDRs", do not circulate as legal tender within nations - they are accounting units for central bank transactions. For something to displace an indigenous legal tender as a means of domestic exchange, an international reserve currency would be introduced into local markets for stability and confidence. This is not unusual, as the dollar now routinely serves as the local unit of exchange in transitioning economies. If anything is outlandish in all of this, it's the idea that Americans should take seriously the notion that China has the economic power to replace U.S. as the world's leading economic power. This is the administration's stupidity, not Representative Bachmann's. She's simply putting in place legislative protections against this administration's transnationalists, those who are willing to consider the replacement of the dollar of the world's reserve currency. See the discussion, for example, at the Wall Street Journal, "The Chinese Yuan: The Next World Currency?"
There's nothing stupid about Michele Bachmann's concern for American sovereignty or her distrust of the Democratic financial manderins in Washington. What is not so smart is how conservatives, at least as demonstrated by the lack of response to the left's "currency trutherism" against Ms. Bachmann, aren't taking these atacks seriously. (But thank goodness for William Jacobson's exceptional essay, "Yet Another Cheap Attack On Michele Bachmann.)
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UPDATE: See also Snooper Report, "I Want To Bear Michele Bachmann's Babies!"
10 comments:
Good for her! She is absolutely right!
I cannot believe how far our nation has unpegged from our values and principles. When a Congressman defends the Constitution and our economy, they are smeared as a “loon.” This is absurd.
http://franklinslocke.blogspot.com/
I have invited her to come onto my show but have not heard back yet.
Did you see Chief Tax Cheat when she asked him to cite chapter and verse of the United States Constitution?
One more thing...I guess the libtards "forgot" that one of their own, Inslee OPENLY called for Civil War if anyone drills for oil in Washington State or offshore.
See, this is the stuff I started coming here to read, Don: your defence of entertaining, conspiracy nutjobs on the right. I foresee a day when the dollar will fall by the wayside and gold pressed latinum will soon be the currency of choice across the known galaxy.
And you nailed it, Snooper. Geithner would have looked just as foolish if he hadn't been able to recite the parts of the Constitution that specifically reference abortion, stem cell research and nanotechnology. Oh wait, it doesn't specifically reference those things either? You're smart. Don't let anyone tell you different...
Just for you, Sir!
http://tinyurl.com/ctmt7b
That "orderly revolution" had best come about soon, else by 2012, if not sooner, we will be addressing each other as comrade-when we aren't fighting over bowls of gruel, that is.
I think little Timmy prematurely let the cat out of the bag with regards to the dollar. I am quite sure there are more than a mere handful of Obamanistas who would have no problem with the imposition of an global currency.
These people are not just Marxists, but globalists as well. If anyone doubts this, take a cold, hard look at what Broom Hilda is doing over at Foggy Bottom.
Do not forget that a large percentage of the funds that fueled Obama's campaign came from overseas donors, the largest and most influential of which was none other than George Soros, whose devout hatred for America and every thing it stands for is not exactly a well-kept secret. This fact alone should have been a huge, flaming red flag for any American that has even a passing interest in the continued sovereignty of this country.
Given the fact that they are cranking up the printing presses to print dollars by the trainload, and knowing the sad fate of nations who have done this very thing throughout history, I can easily envision a time in the near future where rolls of $1000 bills will be routinely used for butt wipe and birdcage liner.
While I support the efforts of Michele Bachmann wholeheartedly, I cannot help but think that world events might soon render those efforts impotent.
-Dave
Benen has dragged The Washington Monthly down from Kevin Drum's level of discourse into the mud. And Matt Y is part of the crowd of JournoList agitpreppies ready to be mobilized at a moment's notice to make fun of Jindal's style and think up scurrilous accusations of lying, the drive-by media that Rush excoriates daily is well-organized and ethics deprived as well as content-free. Yellow-dog journalism at its worst.
And Harry Reid seems determined to supplant Larry King and Sen. Byrd of WV as the most addle-pated moron in DC.
And Nancy Pill-osi appears immune from criticism as she rams through a Stimulus Bill approving AIG bonuses and then a week later, a bill of attainder targeting the beneficiaries of her own legislation that she was TOO EFFING STUPID to catch the first time around.
But Michele dares to make an intelligent comment on this parliament of nutjobs and she is pilloried---JournoList and other ListServs we don't know about completely suborn any attempt to create a "marketplace of ideas."
Keep up the good work, Donald. Most conservatives and thinking Americans are still beneath the decks riding out the tsunamis that Blue Dog Dems and fiscal hawks are now starting to counter.
The US still produces over 25% of the world's goods and services, but I'm sure Turbo-Timmy might not mind turning a world currency over to the UN. They've done such a good job on climate analysis.
Anytime a sane voice begins to surface from the chaos and brings the true face of liberalism into focus the liberal dogs of war begin a campaign of demonization in the hopes of squashing it quickly and labeling it as just another insane voice of madness. Reasoning that principles and values are unimportant is the true madness. I appreciate the fact that there are those of us out here in the blogosphere that recognize the truth, and shine as much light as we can on that truth. And, like Snooper, as much as over a year ago, I have been trying to get Michele Bachmann on my radio show, but as is true with most busy people, it has been a difficult ride.
AMEN to every word Michele Bachman said!
She understands that sometimes we have to stand up and do more than what is necessary. Sometime, we must rise and do what is required!
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