Clackamas, OR â€“ DAVE BROWNLOW, Candidate for U.S. Senate, comments on the ongoing, and rapidly accelerating meltdown of the U.S. financial system.
BROWNLOW said, â€œOur entire financial system is based on an illusion, with a foundation built on sinking sand. We spend more than we earn, we consume more than we produce, we borrow more than we save â€“ and we cling to the fantasy that this can go on forever. The glue that holds this crumbling scheme together is a fiat currency called the Federal Reserve Note, which is created out of thin air an international banking cartel called the Federal Reserve. Since a â€˜noteâ€™ is a debt, this leaves us with an obvious problem – WE HAVE NO MONEY!â€
â€œThe deer in the headlights look on the faces of Barak/Biden/McCain/Palin when discussing this crisis should send a streak of terror down our spines. Not one of them has the vaguest clue of what is even happening, let has the foggiest idea how to fix it.â€
â€œIn the last three years, the Federal Reserve has created over $4 trillion in new money out of absolutely nothing. As these huge new piles of phony money flood the banking system, the phony money already in circulation becomes worth even less, which leads to higher prices. We choose the relatively benign sounding term â€˜inflationâ€™ to describe this giant rip off, as if some immutable force of nature is the cause of our shrinking paychecks. But, make no mistake – this is a brilliantly contrived plot to pick the pocket of every American.â€
â€œOver the last several months we have had an unprecedented infusion of newly created money â€“ even by Federal Reserve standards. The roller coaster ride began in earnest with the $60+ billion Bear Stearns bailout, followed quickly by the $300+ billion bailout of the big mortgage/banker buddies last month. September started with the massive Freddie/Fannie bailout that will end up costing taxpayers somewhere between $500 billion to $1 trillion. On Monday the fed brokered the Bank of America buyout of Merrill Lynch. Then just last night, the fed announced the $85 billion bailout of AIG insurance, an insurance company few of us have ever even heard of.â€
â€œThere were a couple of smaller bailouts along way, with the fed handing out a few hundred billion more in â€˜walking around moneyâ€™ to any needy bankers that may have been overlooked in the targeted bailouts.â€
â€œOur financial system is breaking down at a fundamental level because it is based on deception and usury. The anointed few get to print our money from absolutely nothing, and then charge the rest of us an exorbitant fee for the privilege of using it. The amount of money churning through the system is enormous. Trillions of dollars move through the wires every day. The big banks and brokerage houses have devised a clever scheme to skim a little off the top of each transaction, turning many of them into millionaires and billionaires â€“ while you and I are stuck holding the bag. What a crime!â€
â€œSo far, the only solution being talked about is more of the same failed monetary policies that got us into this mess in the first place â€“ more fake money, more debt, more usury. It is time to demand a return to sound money, honest lending, and transparent financial information from our government. I do not pretend to have all the answers, and do not claim there is a quick fix, but no one is even talking about the most obvious place to begin the road to recovery, which is a return to the constitutional principal of sound money. Why does that discussion seem to be off the table?â€
While this financial meltdown is unfolding right before our eyes, Jeff Merkley and Gordon Smith continue spending millions talking about office furniture, golf clubs, Merkleyâ€™s hotdog eating habits, and other trivial nonsense â€“ along with their decidedly nastier diversion into prison sentences for serial rapists. Oregonians deserve better than this indignity, and a good place to start turning this into a real election would be to end DAVE BROWNLOWâ€™s banishment from the upcoming Senate debates scheduled for October 10th in Portland and October 13th in Medford and October 17th at the Portland City Club (and a potential debate on safety).
We would ask Oregonians to contact the debate sponsors: The Oregonian, KGW-TV Portland, KOBI-TV Medford, Portland City Club, and request that all the candidates, including DAVE BROWNLOW, be allowed to debate so we can get beyond the trivialities and start talking about some real issues.
DAVE BROWNLOW FOR U.S. SENATE
P.O. Box 2965 Clackamas, OR 97015 (503) 307-3851
CONTACT: SUZANNE BROWNLOW