MR. MURPHY: Thank you. My name is Greg Murphy, and I would like to thank you for this opportunity to comment on the proceedings today.

We've heard a lot of comments about how the agriculture industry is -- the economy in the agriculture industry is just terrible, they have a lot of problems, they have bankruptcies going all over the place, you have hot lines -- suicide hot lines for farmers all over. But not only is there problems in that industry, but also in all the other industries there's other problems.

Today we're told the economy is recovering, but the evidence doesn't seem to be bearing that out. Truth be told, we're in a global collapse. Just look at the Asian crisis; the Russia crisis of last August; Brazil, long-term capital management bail-out, and also the closing of the GM Buick plant in Michigan. By this evidence, economic recovery is just a myth. The stock market is doing great but nobody else is. The person on the street realizes there is a problem. We have farmers that are not getting fair prices for their commodities and we have a way to help that out. The real solution would be go to the new Brent Woods Proposal coupled with the Asian land bridge for infrastructure projects, not only in the US, but throughout the world. Which would make it easier for the farmers to get their food to the markets and to get the markets opened up into other countries.

We have that law -- that Right to Farm Law that was passed a year or so ago that has actually hurt the farmer more than it has helped. It's helped the larger farmers, corporate farmers have gained from it, but the smaller farmers are become hurt. We should go back to the law that was in the middle fifties. We set for parity pricing of commodities and things for the farmers so that would help them out and also it would help with the food that is laying rotten in Nebraska, North and South Dakota. We have people starving, 900 million people starving throughout the world. We have food rotting, we should have a way to get that food around.

We talked about that it was mentioned that we should do something about the national currency, the exchange rates. We're proposing that you should put a fixed value on those national currencies, and also foster necessary protectionist measures of tariffs and trade regulations to keep from having predatory trade prices with our trade partners, have a more equal playing field. Make trade instead of free trade.

For all this to work, we have to find a way to increase the physical output of the whole economy. Not only will we be able to do this with the financial system of the new Brent Woods Proposal, but also we would be increasing our infrastructure, make it easier for farmers to get their stuff to and from market, and this could all be implemented by following the example of Roosevelt, accomplish recovery of the credit generation on a gigantic scale to finance infrastructure projects and to rebuild the agriculture base of the United States along with the industrial base.

This credit was issued as long-term, low-interest loans targeted toward key infrastructure toward aid for the farm sector financing key industry projects that went toward that war effort. And in conclusion, the new Brent Wood Proposal coupled with the Asian land bridge is the only solution to the present crisis. Through these programs, we will develop new technologies, new agriculture, and good paying jobs that the future demands. Thank you very much. That is my comments.