Politics

Touting Her Currency Conspiracy, Bachmann Insists: ‘This Is Not Michele Bachmann Being A Kook’

bachmann-glasses.jpgEarlier this week, right-wing fanatic Rep. Michele Bachmann (R-MN) started peddling false conspiracy theories that the world was moving toward a unified global currency — and that the U.S. might join in as early as next week’s G-20 conference. The myth was started when China’s central bank governor suggested replacing the dollar as the world’s reserve currency. Though the suggestion has nothing to do with a unified global currency, Fox News’ Major Garrett decided to ask President Obama whether he supported the fictional prospect of such a move. (Obama, for the record, does not.)

Today on Glenn Beck’s radio show, Bachmann declared that the U.S. will soon be moving to “give up the dollar as our currency and we would just go with a One World currency.” Such action, she warned, would mean the U.S. as a country would be “no more”:

BACHMANN: As you know, Russia, China, Brazil, India, South Africa, many nations have lined up now and have called for an international global currency, a One World currency and they want to get off of the dollar as the reserve currency.

BECK: Most people don’t understand, Michele, what that means.

BACHMANN: What that means is all of the countries in the world would have a single currency. We would give up the dollar as our currency and we would just go with a One World currency. … If we give up the dollar as our standard, and co-mingle the value of the dollar with the value of coinage in Zimbabwe, that dilutes our money supply. We lose control over our economy. And economic liberty is inextricably entwined with political liberty. Once you lose your economic freedom, you lose your political freedom. And then we are no more, as an exceptional nation, as we always have been. So this is imperative.

Bachmann claimed that Treasury Secretary Timothy Geithner said he was “open” to the One World currency. (In reality, he only said he was open to changes in the IMF special drawing rights, and reaffirmed his commitment to the dollar.) Beck warned that speaking out about the global currency gets one labeled a “kook,” but Bachmann brushed off such concerns, saying she’s been called that “throughout [her] political career”:

BACHMANN: Well, Glenn, I have experienced that throughout my political career, being labeled a kook. It just happened again in a big story in the Minneapolis Star Tribune. But all we have to do is point to the treasury secretary on tape, on camera. This is not Michele Bachmann being a kook. This is our treasury secretary on tape and on camera.

Listen to it:

Transcript:

BACHMANN: But let me tell you, there’s something that’s happening this week in congress that could be the eventual unraveling for our freedom and it was this. I have also asked the treasury secretary and Ben Bernanke, the Federal Reserve chair, if they would categorically denounce taking the United States off of the dollar and putting us on an international global currency because as you know, Russia, China, Brazil, India, South Africa, many nations have lined up now and have called for an international global currency, a one world currency and they want to get off of the dollar as the reserve currency.

BECK: Most people don’t understand, Michele, what that means.

BACHMANN: What that means is all of the countries in the world would have a single currency. We would give up the dollar as our currency and we would just go with a one world currency and now for the first time we’re seeing major countries like China, India, Russia, countries like that calling for a one world currency and they want this discussion to occur at the G20. So I asked both the treasury secretary and the Federal Reserve chair if they would categorically denounce this. The reason why is because if we give up the dollar as our standard and commingle the value of a dollar with the value of coinage in Zimbabwe, that dilutes our money supply. We lose control over our economy and economic liberty is inextricably entwined with political liberty. Once you lose your economic freedom, you’ve lost your political freedom and then we are no more as an exceptional nation as we always have been. So this is imperative. Well, what happened, the day after I asked that question for the treasury secretary, secretary Geithner went before the council on foreign relations and the same subject came up. After that meeting after he categorically denounced it to me, he said to the council on foreign relations he would be open to this proposal of a single currency, of expanding the international monetary funds’ special drawing down rates. That’s what they’re called. And this created a huge firestorm which the value of the dollar literally tumbled upon his words when he said that.

BECK: Right. And then somebody said, “I think you want to revisit that again.” And he did and he said, “Well, no, I don’t mean…”

[…]

BECK: And what’s going to happen is if you start to talk about a global currency which I’m telling you there’s no way out of what we’re doing now besides devaluing the dollar to pay off our debt and then have a new currency. There’s just no other way.

BACHMANN: But we can stop that.

BECK: Wait a minute. Congresswoman, what happens is when you stand up and when you say those things, then you’re deemed a kook. Then you’re deemed a militia member. And there are too many people in America that will still listen to the mainstream media. They will still listen to, you know, to those in Washington on both sides of the aisle that say, “Oh, no, well, that’s never going to happen.” And so they sit there and do nothing. And those who do want to do something are afraid because they don’t want to be deemed a kook. And they also are tired of being played by politicians in Washington.

BACHMANN: Well, Glenn, I have experienced that throughout my political career being labeled a kook. It just happened again in a big story in the Minneapolis Star Tribune. But all we have to do is point to the treasury secretary on tape, on camera. This is not Michele Bachmann being a kook. This is our treasury secretary on tape and on camera. And also we now have countries across the world asking for this. That’s why I went to my fellow colleagues and I dropped a bill day before yesterday that would bind the president’s hands, that wouldn’t allow him to enter into a treaty or an international agreement to take us off the dollar and put us on an international currency.

UPDATE

Bachmann has introduced legislation to prevent the hypothetical adaptation of a fictional global currency.

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UPDATE

,”This falsehoods here are coming so fast and loose that it’s hard to know where to start,” Matthew Yglesias writes, beginning a thorough debunk of the conspiracy theory:

Keep in mind that these aren’t just two weirdos hiding out in a cabin somewhere. Beck has a show on a major cable news network and Bachmann has a seat in Congress.

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UPDATE

,Today on Glenn Beck’s radio show, Sen. Jim DeMint (R-SC) fearmongered as well, saying, “China and maybe Geithner [are] even agreeing some new world currency.”

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UPDATE

,Karl Rove, appearing on the Sean Hannity radio show, also discussed an “international currency” that the Chinese would have a “significant role in organizing.”

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