Global Currency Controlled By China

During a House Financial Services Committee hearing, both Secretary Tim Geithner and Federal Reserve Chairman Ben Bernanke clearly stated that they "categorically renounce" the proposal offered by China's top central banker to replace the devalued U.S. dollar with a new global currency.
But, just 24 hours later, while speaking at the liberal Council on Foreign Relations in New York, Geithner contradicted his previous statement and declared that the U.S. Treasury Department was "actually quite open" to the idea of a global currency.
This outrageous statement prompted vigilant Congresswoman Michele Bachmann (R-MN) to introduce a resolution which would bar the U.S. dollar from being replaced by any foreign currency.
Bachmann's resolution, H.J. Res. 41, was officially introduced on March 25, 2009 and currently has 29 cosponsors. It was referred to the House Committee on the Judiciary.
Because the U.S. Constitution allows the President to engage foreign governments in treaties, Bachmann's resolution provides for a constitutional amendment which would prohibit the President from entering into a treaty or other international agreement that would provide for the U.S. to  adopt a currency issued by an entity other than the United States.
Eagle Forum applauds Bachmann for introducing this resolution.
"The American people do not want a new world currency that China would control," said Eagle Forum President Phyllis Schlafly.