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Published: Tue, 24 Mar 2009
Description: Amb. John Bolton on push for global currency
Automatically Generated Transcript (may not be 100% accurate)
" Joining me now is former ambassador to the United Nations and senior fellow at the American enterprise institute ambassador John Bolton. Ambassador. Everybody's -- for global currency. I think part of this is a game. But I think also part of it is a I mean now the UN is saying you know why we should have a global currency it's also a movement to tie the entire globe together. Into one big government. Am I wrong -- Right well I think they're a lot of different motivations if you look at China and they're worried about US inflation. Devaluing the date visited the debt that they hold and their unwillingness to buy more of it actually may help save us from ourselves yes but I do think there -- other people -- many in the United States is well. Who don't prize sovereignty particularly American sovereignty as much as most Americans -- And the real test I think we're gonna see here in the next few years is where the Obama administration comes out on some of these globalization proposals you know he wrote a paper I'm trying to remember the -- his plan is like that next big plan or something like that but there was a there's there's a secondary title -- do you know what I'm talking about. The Obama -- that up. Got a lot of his advisers have talked about concepts like. Responsible sovereignty whatever that means that it's a way of pre conditioning people. To get used to a lessening. The decision making that we do in Washington of transferring responsibility. International organizations that they're never gonna say that they're never gonna say you know we think we need less American Saturday they're going to characterize it very differently but the net impact of moving in a number of these directions we'll have exactly that effect right. Responsible sovereignty I mean the sovereignty is sovereignty. And if we are indebted to everybody of our value of our dollar isn't worth anything. We can't have any kind of sovereignty can -- Well and that that is certainly the consequence of inflating the currency which had spending levels projected by the Obama administration seems to me to be the inevitable effect I think too many of our. Leaders have forgotten inflation. Of the late 1970s and the Carter administration word went out this high on an annualized basis is 18% per year. As one of the reasons that that Reagan -- such a decisive victory in 1980 people wanted to stop it. And because we forgotten about the negative impact of inflation on our. Domestic. Lifestyle and on the international consequences we seem headed toward it again."
" They know how to -- how do we convince anybody of that I mean there are too many people. In Washington that don't care and both the left and the right there are few speaking out. But a lot don't care a lot -- and then in just say hey boy out I want to be part of that you know that new new deal I want to be part of that new global network. And the rest of the people might not harassing us today my oldest daughter John it was born in 1988. Most people don't."
" Have any clue as to what real strife is in this in this age I mean it let's hear it it least 45. If you haven't lived through a hard time. Well then that it's up to the baby boom generation do explain to everybody just how bad inflation is not that I'd ever give the baby boom generation much responsibility but I but I think we have to -- here. You can see in this upcoming G trotting meeting. In the next few days Prime Minister Gordon Brown of the United Kingdom has his own ideas for a global new deal and we're going to see weather predictions about the Obama administration. Being post nationalist post American if you will are going to come into play here to look at it. You know let's not throw."
" Barack Obama under the bus. -- solely I think George Bush was. Was not as bad but he was on the same on the same road I mean. You know we we even play in the game with the United Nations thank god George Bush -- fuel into the United Nations I know you're extremely unpopular there I cheered for that. I mean I think these guys are I think these guys they'll take away guns they'll take away our sovereignty they'll take away our our arm our currency our money. They are they're already starting to put all the global framework in. With his bull crap called global warming this is an effort to global lies and tied together everybody on the planet is it not."
" Sure -- if you say all problems are global and dimension that it's not much of a leap of logic would say you need global solutions and what better place to have them and then the UN are comparable institutions so but this this goes fundamentally I think to what the president and his advisers. Think of America. I think you and I most Americans believe and in what has been called. American exceptional isn't that we are different from other countries I'm not sure the Obama administration as a whole really believes in that concept you know I don't know -- how many people in America still believe that I do but I that's because I -- I think most of our country. I think most still and I tell you and one of the great things that President Bush 41 said when he was accepting the nomination and 1988 criticizing Massachusetts governor Michael Dukakis he said in his acceptance speech you know governor Dukakis. -- the United States as just one more nation out there on the floor of the UN General Assembly somewhere between Albania in Zimbabwe. And I think that characterization of Dukakis really fits the Obama administration is well and what we should be very careful -- can watch it play out what happen. And we come to a place in the world and not come back to the currency here in a second -- I think we've come back to a place in the world where -- we look at the UN as we gotta ask mom and dad for permission on everything. This away for everybody to get together and talk things out. But we don't answer to the UN. And yet they are building a world where we will be forced to answer to them they said on the currency. We need to have a global Security Council for for our finances. Where all by the way were also going to tax everybody 1% you gotta be kidding me why isn't there more outrage from this. Did these ideas are all out there floating around they have been for for some number of years during the Bush Administration I think people didn't press them because they didn't see any. Real possibility that they would be accepted but I think they're all got him out of the desk drawers now they're all gonna be out there for discussion. -- people don't talk about world government anymore because they know how unpopular that concept is I think for the overwhelming majority of Americans instead they talk about. Global governance as if that's something different that's what where a lot of these proposals come from."
" So let me take you here into this darker recesses of insanity I guess and that is. Look at I mean I. All you need it is -- manuals phrase and that is -- an emergency. We are trashing. Our dollar we are racking up so much debt we are -- valuing our dollar. We have other countries that are also saying we've got to get out of the dollar. Their countries are also struggling if you have this thing melt down a -- collapses all you need because are already saying it we need a global solution. All you need is the emergency and all that stuff that was in you know the the -- the drawers of people's offices forever. Come out and they become reasonable because people are hungry. And the UN provides an answer."
" Is that Chris you know -- good. If the look at the administration continues these proposals for massive increases in federal expenditures massive deficits they've got to find a way to find -- and it's either through more government debt or printing money. Both of which have the impact. Reducing the value of the dollar and when you get away from the concept of a strong dollar which is important to us. Economically and politically. People are gonna say we want alternatives and that fits right into these suggestions by China and Russia and others. So our own domestic policy is doing this to the dollar it's not some conspiracy from outside. As you rightly say we are trashing the dollar by reducing its value."
" Yet okay so so help me out on this. You're known as a fighter I mean you're a guy in there man he who -- just taken a fight right to them. So what does the average. Person do I mean the average person they hear you know -- might be losing my sovereignty. How do we do we fight that especially when there was a story today about Haley Barbour I mean here's a guy -- there were Republican. Billy barber is is not -- originally I saw the headline I thought it was fighting against eminent domain I thought he was actually going -- and saying hey -- domain is important for some stuff but not for new casinos. And the Republicans -- standing up against eminent domain what. -- who who's on our side."
" Well you know I think it's important we understand what we mean by sovereignty to -- left wing intellectuals in this country just kind of an abstract concept that doesn't mean much. But I think the most americans' sovereignty means our control over our own government it's about self government has so preserving suddenly means keeping control over what the politicians are doing and I have to say I am optimistic on this for. Because I think what Americans understand what the risks are they able stand up and tell their members of congress but don't even think about it but but we've got to get organized there's no doubt about it ambassador. When you say world government. It does sound nuts. And because everybody knows nobody's for world government but again that if you and that's why they don't call -- world government. Pardon me I -- that's why they don't call it. I that's why they don't call it world government anymore and they're they'll try and find these other phrases but you have to look underneath -- it's on a range of issues not just the money supply but. Gun control -- look -- war penalty abortion. All a global warming all of which are issues we can and should debate in our entire constitutional democratic framework we don't need to decide an internationally but that's what the agendas of many people very close to the Obama administration okay thank you very much appreciate -- ambassador by the -- in."
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