Rasmussen Polls On Non-Existent ‘Global Currency’ Issue, Before Admitting It’s A Non-Existent Issue
Rasmussen Polls On Non-Existent ‘Global Currency’ Issue, Before Admitting It’s A Non-Existent Issue
The right wing, led by the always reliable Rep. Michele Bachmann (R-MN) and Glenn Beck, is in a panic about a supposed plot to replace the dollar with a “One World currency.” Repeating its pattern of echoing conservative memes, Rasmussen polled on the issue, and — unsurprisingly — found that most Americans favor keeping the dollar:
Eighty-eight percent (88%) of Americans say it is important for the dollar to remain the currency of the United States, including 70% who say it is Very Important.
Only three percent (3%) say it is not at all important if the dollar remains America’s currency, according to a new Rasmussen Reports national telephone survey.
All four of Rasmussen’s questions asserted that a proposal exists to create a “new global currency” that will “replace the dollar,” asking how important it is “that the dollar remain the currency of the United States.” However, in its own write up of the poll, Rasmussen admits that “the issue” is not about replacing Americans’ dollar bills but rather with moving to a new standard for the global currency reserves:
Treasury Secretary Timothy Geithner generated concern in Washington when he seemed willing to consider a proposal for replacing the dollar, then later backtracked on it. At issue is not replacing the money in Americans’ wallets but what currency will be the world standard against which all other monies are measured.
Indeed, there is no plan — and no suggestion of a plan — to create a global currency. The fact that Rasmussen even polled on Bachmann’s insane legislation banning the replacement of the dollar with a fictional currency shows just how unconcerned Rasmussen is with truth, accuracy, or intellectual honesty.
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cue the monetary Chicken Littles in 3, 2, 1…..
“OH NO – IT’S THE NAFTA SUPERHIGHWAY!!!!!!
SOMEBODY GET LOU DOBBS ON THE PHONE!!!!!”
March 31st, 2009 at 3:16 pmGOP: People without a Plan. Without a simple creative idea….without a soul. Pathetic hate-mongers and unsophisticated morons.
March 31st, 2009 at 3:17 pmOut of ideas Repukes searching for a meme. They’re so pathetically out of touch with reality that they are now creating their own news and spin. Typical.
March 31st, 2009 at 3:17 pmQuick! Nuke teh UN! Global NewWorldOrderists occupy the 10th floor!
March 31st, 2009 at 3:21 pmIgnorance is as ignorance does.
There is a story, but many people refuse to read the details:
http://www.reuters.com/article/newsOne/idUSTRE52H2CY20090318
March 31st, 2009 at 3:23 pmIf only we’d had some polling on the impeachment of Bush and Cheney, but nobody in Washington or the media wanted to see those results.
March 31st, 2009 at 3:25 pmRasmussen Polls On Non-Existent ‘Global Currency’ Issue, Before Admitting It’s A Non-Existent Issue
– - Money for nothin’, chicks for free.
March 31st, 2009 at 3:25 pmNice link State. To quote from it:
“A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar.”
So they want to replace the dollar as the reserve currency.
March 31st, 2009 at 3:29 pmAnd probably cause they see it’s inevitable decline due to the massive screwup by the BushitCo regime in allowing unfettered greed to ruin the financial system.
OMG, this is insane. What’s next on the program? Polling Americans to find out how they feel about replacing the star-spangled banner with a plain blue piece of cloth to symbolize international unity? That seems to be on a par with this nonsense.
March 31st, 2009 at 3:31 pmSeriously – what should we expect from a country that still can’t get a handle on the metric system?
“I’ll take a cubit of rope, and a hogshead of dill pickles, and that’ll be all, because it’s a 40 furlong walk back to my place”
“That’ll be fourteen American greenback dollars sir – cash on the barrelhead”
March 31st, 2009 at 3:36 pmI think the question and the issue should be more thought out. We should really be thinking about what currency we will want to attach ourselves too once our dollar Hyper inflates due to the stimulus package. As the Value of our dollar plummets and the so called “faith” it is based on is lost globally and at home. We will be forced to consider our options. Retaining the dollar in its current state would technically be considered one of those options.
The G20 conference will inform us more on what will happen to the dollar. Put it is pure unadulterated ignorance to not at least consider how badly the U.S. could get screwed by the lose of reserve status, plus an extra 15 trillion floating in the market, and the only way to shrink the supply is a pile of toxic assets the the FED will never be able to sell.
Remember that over 60% of all dollars reside outside the borders of the U.S. So the “faith base” of our dollar includes how the world views it. So there is a potential outcome where the world does not want our dollar, and there is 15 times more of it then just a few years. This has the potential to be a very scary situation.
March 31st, 2009 at 3:37 pmYou know, i didn’t know this particular brand of stupid was getting traction, but I actually saw a zombie post about it on Paul Krugman’s blog. Needless to say they didn’t get addressed…:)
But this ties into a lot of fundamentalist superstition, too, about the end times, the Anti-Christ (usually the U.N.) uniting the world, etc. This was an easy one for the GOP to use because the critical thinking skills of the fundies are so low, and the anxiety so high that they’ll cling to it, and get back in line with the GOP to save them.
March 31st, 2009 at 3:37 pmonce our dollar Hyper inflates due to the borrowing for the years of warfare waged by our former CINC, and the unbridled greed unleashed by his lack of regulation of anything financial…
There, fixed it up real nice for you.
March 31st, 2009 at 3:42 pmwho woulda thunk. rasmussen the fake poling company, featured on faux news which is notorious for “reporting” on non-existant stories would issue a pole on a non-existant issue which I am sure faux will run as the truth. t’is a vicious cycle i tell ya.
March 31st, 2009 at 3:48 pmJust because the dollar bill says, at the top, ‘Federal Reserve Note’, does not mean it is a global currency.
March 31st, 2009 at 3:48 pmLet’s write Ms Bachmann to see if she’ll start legislation on banning evil blue martians from marrying our daughters because NO ONE in America would want that, either
March 31st, 2009 at 3:50 pmI bet next week they’ll poll to see how favorably Americans view the Boogeyman with comparison to Uncle Sam as the official cartoon symbol of the US. Oh brother.
March 31st, 2009 at 3:51 pmI realize that the U.S. has a lot hanging on the ‘reserve status’ decisions, but I hate to be negative: didn’t the U.S. and it’s let-it-ride deregulation primarily get the world in this mess? Would it be so bad to just be one in the “shared basket?” of currencies? I mean the loss of confidence in our dollar is a real result of our own selfishness.
I already mentioned the fundamentalist anxiety about the currency issue, but the regular run-of-the-mill nationalism could be an impediment, too. I believe that the U.S. has grown too arrogant, and we need to see ourselves in a community of countries that directly affect each other with our decisions. Perhaps the “shared basket” will drive home that idea.
Unfortunately, the jingoistic hawks will want to nuke everyone to high heaven before that idea can be grasped.
March 31st, 2009 at 3:52 pmNitch Said: I think the question and the issue should be more thought out. We should really be thinking about what currency we will want to attach ourselves too once our dollar Hyper inflates due to the stimulus package.
The stimulus package pales in comparison to the derivatives boondoggle at 600 trillion+ and thats whats being bailed out. Why AIG still owes some 1.6 trillion on derivatives it insured.
March 31st, 2009 at 3:52 pmThe sky is falling!! The sky is falling!!
Rasmussen Poll: Should we run and tell the king?
*eyeroll*
March 31st, 2009 at 3:53 pmBoth Rasmussen and Gallup are notoriously right-wing REpublican’t polls. No reason to “believe” in their results any more than believing what REpubiican’t squawking heads say on TV and radio…
March 31st, 2009 at 3:54 pmNitch, I think your comments indirectly add to my points a little bit. We can continue down a road of selfish nationalism protecting only our own economic interests, or we can see the objective fact that we need to participate in a global community, or suffer the consequences. The U.S. need to be #1 is not only tired, but has proven to harm the rest of the world.
March 31st, 2009 at 3:59 pmLet’s start our own poll:
1. Would you support a Republican plan to replace “In God We Trust” with “In Tax Cuts We Trust” on our money?
2. Would you support a Republican plan to married women to wear their wedding veil in public until they have a child?
3. Would you support a Republican plan to close VA hospitals and require veterans to get medical treatment from local veterinarians?
March 31st, 2009 at 3:59 pmSuspicion level? The same people that are now suspicious of everything were the first and loudest to condemn the slightest hint of conspiracy just last year. What’s the secret plan this week, wingnuts?
I’m really curious if the same numbers would result from the question, “Should the US switch to the metric system?” My guess is yes.
March 31st, 2009 at 4:02 pmAsk that question again in two years. If hyperinflation hits, people may be begging for a currency that will buy something.
Evidence of Third Worldia:
1. Fast printing money supply growing by the trillions
2. A heavy handed Congress intimidating professional standards setting (FASB)
3. Influence peddling politicians (Financial lobbyists vs. investors, Business Forward)
There are enough serious things to worry about, than fake or nonstories (new global currencies, BillO’s defense of a nonoffened organization)
March 31st, 2009 at 4:03 pmhttp://www.marketskeptics.com/2009/03/fed-is-planning-15-fold-increase-in-us.html
Take a look and let me know what you think. There is no political leaning here, just economics. Remember the bailout consists of far more then just the numbers that are presented to the public. The government has done and spent far more then they publicize.
I am not saying that it is all doom and gloom. I just think that is is ridiculous to ignore negative consequences.
March 31st, 2009 at 4:03 pmI don’t thoroughly understand the issues of reserve currency. It looks to be relative—the U.S. dollar is the dominant reserve currency, not the only one.
March 31st, 2009 at 4:04 pmseriously, the economy is in the mist of a total meltdown and the best way batshit crazy bachmann can find to spend her time is wasting people’s time money by introducing legislation on non-issues?
March 31st, 2009 at 4:10 pmRealness,
I agree that as a position it may be wiser to be more on par with the other world economies then viewing ourselves as superior. But it may be to the point where we will have to “suffer the consequences” to achieve that transition. So if this is something that you state we may have to go through I ask you what you consider the “consequences” as you state above?
March 31st, 2009 at 4:14 pmRasmussen missed an opportunity to ask more meaningful currency questions.
Would you be in favor of elimination of all pennies ?
would you be in favor of replacing the dollar bill with a one dollar and two dollar coin ?
We have this system down under and I much prefer it. My pockets aren’t full of pennies, and my wallet isn’t stuffed with 1$ bills, which by the way have a life span of about a year, verses coins, lasting thousands of years. All purchaces are either rounded up to .05 or down to .00.
March 31st, 2009 at 4:18 pmWiley,
I think this will help explain the issue of the reserve currency.
http://www.marketskeptics.com/2009/03/how-big-deal-is-loss-of-dollars-reserve.html
March 31st, 2009 at 4:21 pmMathazar,
This is actually an interesting point of debate that has been circulating for a long time now. The root of the issue goes back to us having a faith based dollar. While the changes you suggest along with improving the difficulty to counterfeit our currency by adding more colors and sizes, has been proven to greatly reduce the costs of producing currency, the government has turned it down. The main reason is that most Americans would feel uncomfortable with the changes, thus decreasing their faith in the dollar. This alone is what has kept us from making the transition, and is really a bit ridiculous. But it shows how important “faith” is too our dollar.
March 31st, 2009 at 4:28 pmNice nutshell, Nitch. Thnx.
March 31st, 2009 at 4:52 pmNitch Says:
I am not saying that it is all doom and gloom. I just think that is is ridiculous to ignore negative consequences.
March 31st, 2009 at 4:03 pm
________
Of course – and it seems like many of the negative consequences of an instantaneous switch would fall on China, the ones proposing the reserve basket in the first place. Any type of change like this would have to be phased in over a long period of time, wouldn’t it?
March 31st, 2009 at 4:59 pmWhy not have competing currencies within the US? The more trusted currencies will rise to the top. Problems with one currency wouldn’t take the whole system down. If one hyperinflates or becomes worthless, it doesn’t take down the whole economy.
March 31st, 2009 at 5:04 pmNitch—
eeeesh, I humbly say that my brain hurts from reading the marketskeptics stuff. I understand what you say about being incautious when using terms like ‘consequences,’ and I understand that those consequences of shared currency influence would be huge for the U.S. What I would state is that we’ve seem to have built ourselves a nice house of cards.
It’s frustrating to see- things have gotten so technically complicated that anyone with any self-interest and a specialization in some form of economics could make a great deal of money at other people’s (other countries) expense. The decisions that led us to this precipice. The system doesn’t hold.
Some of the consequences listed on that blog were lower quality of living for Americans and higher taxes. Do these results account for restructuring of wealth and regulation in this country? In the extreme circumstance of global economic collapse, would we finally not go after the culprit 5% wealthiest who’ve been most complicit in this failed system? There’s so many hypothetical details- corporate accountability, real remittances, highest tax burden on those that exploited the most, etc. Would lower quality of life occur if we concurrently restructured how we thought about wealth and community in general?
Now I’m obviously more conceptual in saying all this, but I know you are also running math- which is very conceptual, lots of hypotheticals, so who’s to say a mixture of numbers and social change could mitigate ultimate disaster? at the end, I’m saying that the U.S. making steps to be an equal player could have a long term stabilizing effect on the world.
March 31st, 2009 at 5:19 pmThis new universal non-currency needs a name so that it can be easily recognized when we get it in change from Wal-Mart. How about the Esparanto? You know, so that it ties in with the unused universal language.
March 31st, 2009 at 7:24 pmCan someone explain why Obama is letting Timmy go along with this bank bailout plan?
http://www.youtube.com/watch?v=n-arbfLTCtI
Looks like both republicans and democrats are bought and owned by the banks. Now they’re going to own all of you.
March 31st, 2009 at 7:26 pmScott Rasmussen is a republican wonk.
March 31st, 2009 at 7:41 pmI just hope the pimple faced checker that takes my global currency speaks esperanto…
March 31st, 2009 at 9:34 pmThis is how FOX News and other right-wing propaganda outlets goes about spreading their message of disingenuous blather. They perpetuate lies and half-truths that incite fear and hatred and claim it’s fair game because the stories are packaged as hypothetical “what ifs”.
March 31st, 2009 at 9:37 pmNitch Says:
So you think we ought to consider questions based on your predictions of the future and your delusional fantasies? NAH, I think we ought to be considering what we will do when the aliens from Zeta Reticuli invade and enslave mankind. Its only a matter of time for goodness sake.
March 31st, 2009 at 9:39 pmEugene,
I do not feel like I have solidly stated anything as outlandish as you are proposing. I am not sure which of my points so offended you, but a depression has historical precedence over the invasion by Zeta Reticuli. I may be too presumptuous in assuming that something that has already occurred in this country along with countless others could happen again. But you relate this to being the same as an Alien invasion. I didn’t realize this was such an outrageous notion amongst you and your constituents.
I am more then happy for everything to be alright. But what I am discussing is considering what the best and worst case scenarios are. Everyone including you seems to only want to discuss the best and dismiss the worst. This is such an extreme case of ignorance I find it hard to grasp. I owe it to myself and my family to at least fully consider both sides of the coin. So when things go well I can be ready to move forward and make the most of it. But if things go bad I can look them in the eye and tell them that I am ready for this, that I will take care of them.
April 1st, 2009 at 10:09 amActually I saw President Medvedev talk about this & he wants a new reserve currency & it is a topic at the G20.
Dollar concerns lend impetus for new reserve currency
http://www.russiatoday.com/Business/2009-03-26/Dollar_concerns_lend_impetus_for_new_reserve_currency.html
World needs more reserve currencies – expert
http://www.russiatoday.com/Top_News/2009-03-26/World_needs_more_reserve_currencies___expert.html
G20 to meet as expectations on reform, IMF and currencies mount
April 1st, 2009 at 12:40 pmhttp://www.russiatoday.com/Business/2009-03-31/G20_to_meet_as_expectations_on_reform__IMF_and_currencies_mount.html
From what I’ve read, it would not replace the dollar, but be added to the world’s currencies, as well as replace the dollar as the reserve standard. But the dollar would still exist, it just may eventually become extinct over time someday.
And the more dollars we print to try to prop up our economy & financial institutions, the more other countries will take the idea seriously.
I’m not sure if this is a non-issue, but the GOP is of course using it for their normal fear mongering misinformation campaigns.
I doubt it will get much global support in the near future, but if things get worse maybe it would be put on the table next year. It will be very interesting what comes out of this G20. From what I can tell, they (the world) hate the idea of more stimulus, love the idea of serious regulations (sorry Republicans), & are quickly tiring of bailout loans.
Deutsche Welle is Germany’s news service, I find its reporting good on these international summits.
http://www.dw-world.de/
Bloomberg is good too: http://www.bloomberg.com/
April 1st, 2009 at 12:58 pmOK blistex why then is it OK to hate monger against white people, I ask you sir or is it maam? CeriusDragonfly what happened to you, that you hate america so much? Since when was it wrong to support your country and your currency that used to be #1 til you and your kind came of age… scoundrels. You’d all be hung as traitors a few decades ago… maybe I’m old fashioned
April 1st, 2009 at 9:36 pmWhat everyone should be focused on is the fact that if we give in to a global fund being anything else but dollars, you will see the value of the dollar drop dramatically. Anyone who advocates we switch to a new global currency, either doesn’t understnad the ramifications of what this will do to our economy, or they actually do, and they are willing to see it crash, to appease the G-20 and Europe.
April 7th, 2009 at 2:46 pm