"QUESTION: Good evening, Mr. President. Thank you. Taking this economic debate a bit globally, senior Chinese officials have publicly expressed an interest in an international currency. This is described by Chinese specialists as a sign that they are less confident than they used to be in the value and the reliability of the U.S. dollar. European countries have resisted your calls to spend more on economic stimulus."
"QUESTION: Is there a need for a global currency?
PRESIDENT OBAMA: I don’t believe that there’s a need for a global currency."
"Would you categorically renounce the United States moving away from the dollar and going to a global currency as suggested this morning by China and also by Russia. Mr. Secretary?
Geithner: I would, yes.
Bachmann: And the Federal Reserve Chair?
Bernanke: I would also."
You might be wondering: what is this global currency business? As best I can tell, this is what Fox and Bachmann are talking about:
"China's call for a new international reserve currency may signal its concern at the dollar's weakness and ambitions for a leadership role at next week’s Group of 20 summit, economists said."