“… when Bachmann asked Bernanke if he would completely renounce any suggestion of replacing the U.S. dollar with an international currency, his eyes looked down and away from her when he replied in the affirmative–i.e., he couldn’t look her straight in the face because he was lying.”
[youtube=http://www.youtube.com/watch?v=ZxTpBhLE11s]Rep. Michele Bachmann Grilling Geithner and Bernanke
World Affairs Brief, March 27, 2009 Commentary and Insights on a Troubled World.
Copyright Joel Skousen. Partial quotations with attribution permitted. Cite source as Joel Skousen’s World Affairs Brief http://www.worldaffairsbrief.com
NEW CURRENCY? NOT SO FAST
China even called for a replacement this week of the dollar by some yet-to-be-defined international currency. This is another key New World Order goal that globalists at the CFR and Trilateral Commission would relish. However, they can’t solve the dollar’s current woes by introducing a new currency now since everyone would require a fair exchange value for their existing currencies. This merely changes the name–not the actual quantity of inflation that threatens everyone’s value.
Only during a war, can you get away with forcing an unfair exchange upon current holders of dollars. I suspect that the PTB will be increasingly floating this idea as a mere prelude to some eventual wartime exchange–at very bad rates. China’s idea for a new currency is really aimed at gaining a seat on a new international monetary control institution that will wrest from the US the decision making power on how much to inflate. That isn’t going to happen without war.
The dollar took another hit in value this week as Treasury Sec. Geithner failed to adequately respond to the Chinese call for a new currency. Instead, he gave out mixed messages, first telling fellow globalists at the CFR he was “open” to the suggestion, and then later vehemently supporting the dollar’s reserve currency role.
Various bloggers on the LewRockwell.com blog detailed the mixed messages of both Geithner and Bernanke as they were confronted by Rep. Michele Bachmann from Minnesota: “… when Bachmann asked Bernanke if he would completely renounce any suggestion of replacing the U.S. dollar with an international currency, his eyes looked down and away from her when he replied in the affirmative–i.e., he couldn’t look her straight in the face because he was lying.”
Then comes the dynamite question from Bachman: “‘What in the Constitution grants you the power to justify action taken by the executive to give authority to the treasury for these actions?” Geithner says that Congress gave the authority. Bachmann stops him and says his answer doesn’t address the constitutional issue of where Congress gets the power. She then asks Ben Bernanke where in the Constitution does the Federal Reserve get the power to create trillions of dollars in bailout money. Bernanke also defers to Congressional legislation in the 1930s and evades the constitutional issues.