ENROLLED SENATE
CONCURRENT
RESOLUTION NO. 16	By:  Newberry, Adelson, Aldridge, Anderson, Ballenger, Barrington, Bass, Bingman, Branan, Brogdon, Brown, Burrage, Coates, Coffee, Corn, Crain, Crutchfield, Easley, Eason McIntyre, Ellis, Ford, Garrison, Gumm, Halligan, Ivester, Johnson (Constance), Johnson (Mike), Jolley, Justice, Lamb, Laster, Leftwich, Lerblance, Marlatt, Mazzei, Myers, Nichols, Paddack, Reynolds, Rice, Russell, Schulz, Sparks, Stanislawski, Sweeden, Sykes, Wilson and Wyrick of the Senate

			and

		Sullivan, Armes, Auffet, Bailey, Banz, Benge, Billy, Blackwell, Brannon, Brown, Buck, Cannaday, Carey, Christian, Collins, Coody, Cooksey, Cox, Dank, Denney, Derby, DeWitt, Dorman, Duncan, Enns, Faught, Fields, Glenn, Hamilton, Harrison, Hickman, Hilliard, Holland, Hoskin, Inman, Jackson, Jett, Johnson, Jones, Jordan, Joyner, Kern, Key, Kiesel, Kirby, Kouplen, Lamons, Liebmann, Luttrell, Martin (Scott), Martin (Steve), McAffrey, McCullough, McDaniel (Jeannie), McDaniel (Randy), McMullen, McNiel, McPeak, Miller, Moore, Morgan, Morrissette, Murphey, Nations, Nelson, Ortega, Osborn, Ownbey, Peters, Peterson, Pittman, Proctor, Pruett, Renegar, Reynolds, Richardson, Ritze, Roan, Rousselot, Sanders, Schwartz, Scott, Sears, Shannon, Shelton, Sherrer, Shoemake, Shumate, Smithson, Steele, Terrill, Thompson, Thomsen, Tibbs, Trebilcock, Walker, Watson, Wesselhoft, Williams, Wright (Harold) and Wright (John) of the House

A Concurrent Resolution opposing the creation of a global currency to replace the dollar; and directing distribution.

WHEREAS, despite the recent stream of bad news about the economy and markets, the dollar has stood out as one of the top performing currencies this year; and

WHEREAS, a recent economic report indicates that the dollar is up about 9 percent against the euro and 7 percent versus the Japanese yen so far in 2009.  It has also edged slightly higher against the British pound; and

WHEREAS, despite crisis conditions affecting the US economy, economic conditions are much worse in other parts of the world, and the dollar is a relative pocket of stability and the only safe haven among currencies; and

WHEREAS, China has now called for the creation of a new currency to replace the dollar as the world’s standard, with the result of decreasing the United States’s dominance in the global economic order; and

WHEREAS, this call for the demise of the American dollar puts American sovereignty in peril; and

WHEREAS, President Barack Obama, US Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke have unequivocally rejected the proposal to do away with the dollar as the international reserve currency; and

WHEREAS, at the upcoming G20 meeting in London, the plan to strip the dollar of its reserve status is likely to be debated.

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE 1ST SESSION OF THE 52ND OKLAHOMA LEGISLATURE, THE HOUSE OF REPRESENTATIVES CONCURRING THEREIN:

THAT the Oklahoma State Legislature strongly opposes the proposal of foreign nations such as China and Russia to shift the world’s currency away from the dollar.

THAT a copy of this resolution be distributed to the President of the United States, the United States Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, the President of the Senate and the Speaker of the House of Representatives of the United States Congress, and to each member of the Oklahoma Congressional Delegation.

Adopted by the Senate the 25th day of March, 2009.

	
Presiding Officer of the Senate

Adopted by the House of Representatives the 30th day of March, 2009.

	
Presiding Officer  of the House
	of Representatives