Marshall Money Study Advances - Vote Tomorrow (Monday)

  Dear Virginians,

My HJ Res. 590 has already passed the full House of Delegates and the Senate Rules Committee. It sets up a General Assembly study of ways to protect Virginians from cyber security threats and Federal Reserve policies which adversely affect our economy.

The full Senate vote is expected on Monday, February 18.

The Chair of the Senate Rules Committee announced that Forbes Magazine editor, Steve Forbes, wrote in support of my study. Despite a few critics at the Washington Post, the study is a serious one, necessitated by cyber security breaches and devaluation of the dollar.

CYBER SECURITY BREACHES: How long would your family “survive” without a working credit or debit card due to banks’ computers being disabled or losing records? In mid-October, 2012 Defense Secretary Leon Panetta gave a speech in New York in which he recounted serious threats to our computer dependent economy:

“In recent weeks…large U.S. financial institutions were hit by…attacks [which] delayed or disrupted services on customer websites…the scale and speed with which it happened was unprecedented. But even more alarming is an attack that…infected computers in the Saudi Arabian State Oil Company Aramco…This routine replaced crucial systems files with an image of a burning U.S. flag.

But it also put additional garbage data that overwrote all the real data on the machine. More than 30,000 computers … had to be replaced … foreign cyber actors are probing America‘s critical infrastructure networks…chemical, electricity and water plants and those that guide transportation throughout this country…intruders have successfully gained access to these control systems.

The collective result of these kinds of attacks could be a cyber-Pearl Harbor: an attack that would cause physical destruction and the loss of life.”

FIAT MONEY, DEVALUED DOLLARS AND ECONOMIC INSTABILITY: Federal Reserve policies have hurt Virginia’s Retirement system and budget and are producing disincentives for families to save as bank accounts now provide near zero interest. At the same time, the Fed is providing perverse incentives for self-indulgence by Wall Street and runaway spending by Congress. Congress needs an “intervention” which only a state study by experts can provide.

Please contact your own State Senator by 3:00 pm on Monday, February 18 and ask him to support HJ Res. 590. Click here to find out your state senator’s contact information.

Thank you,

Delegate Bob Marshall