"Bachmann Introducing Bill to Ban Use of Made-Up Global Currency"
The madness continues as Michele Bachmann introduces legislation that “would bar the dollar from being replaced by any foreign currency.”
What the Chinese were proposing, of course, was to replace the dollar as the world’s reserve currency. I would take the view that a move away from near-exclusive reliance on the dollar is probably inevitable irrespective of what we do. But whether or not you agree with me about that, this isn’t something congress can ban—it’s a decision by foreign countries about what they do with their reserves.