but first he must pass through the Democratic primary, scheduled for August 24.
Khavari, who was born in Yazd, is an economist, author and small business owner.
The leading candidate on the Republican side is Florida Attorney General Bill McCollum, who is running against State Senator Paula Dockery in the Republican Primary.
The Democratic candidates so far include Marc Shepard, a substitute teacher and former aide to State Representative Barry Silver, Alex Sink, Florida’s Chief Financial Officer, Joe “T.J” Allen, founder of the International Caribbean Association (ICA), Michael E. Arth, an urban designer and policy analyst and Khavari.
When the Iran Times spoke with Khavari several months ago, he laid out why he felt he was the best candidate for the job. “There are two main competitors: Alex Sink who is the Florida CFO. She has been endorsed by the Democratic Party. The Republican Party has endorsed the former congressman and the present Florida Attorney General Bill McCollum. Both of them are not popular among the average people. Alex Sink is also the former CEO of the Bank of America. I get more support from the grassroots than they get. They are the agents of big businesses and big banks.”
As an economist, the main issues Khavari focuses on include economic security and sustainability and what he calls a green economy. His ideas for change are documented in his nine published books, which include: “Oil and Islam—The Ticking Bomb” (1990), “Environomics—The Economics of Environmentally Safe Prosperity” (1993) and “Towards a Zero-Cost Economy—A Blueprint to Create General Economic Security in a Carefree Economy” (2008).
The Iranian-born candidate gained national attention after he proposed creating a publicly-owned bank. Khavari told the Iran Times, “The centerpiece of my economic plan is to create The Bank of the State of Florida. This will power the economy to create full-employment, prosperity and economic security for all Floridians. It will make Florida economically recession-proof.”
According to his plan, the bank would act as a depository for state funds but would also offer loans to Floridians at low interest rates. The plan also would allow the bank to open up frozen credit markets, save homeowners thousands of dollars in payments, produce major revenues for the state, and allow the state’s own debts to be refinanced at much lower rates. Khavari believes these benefits are possible because of the “fractional reserve” banking system used by all American banks when they make loans.
Khavari explained, “Using the fractional reserve regulations that govern all banks, we can earn billions per year for Florida’s treasury, while saving thousands of dollars per year for Florida homeowners…. For $100 in deposits, a bank can create $900 in new money by making loans. So, the BSF [Bank of the State of Florida] can pay 6 percent for CDs [certificates of deposit], and make mortgage loans at 2 percent. For $6 per year in interest paid out, the BSF can earn $18 by lending $900 at 2 percent for mortgages. The BSF can be started at no cost to taxpayers, and will be a permanent engine driving Florida’s economy. We can refinance state and local projects at 3 percent, saving taxpayers billions and balancing state and local budgets without higher taxes.
“The state would earn $15,000 per $100,000 of mortgage, at a cost of about $1,700; while the homeowner would save $88,000 in interest and pay for the home 15 years sooner,” Khavari said.
“Our bank will save people about seven years of their pay over the course of 30 years, just on interest costs. We should work to support ourselves and our families, not the banks…. What we have now … makes everyone work for a few greedy fat cats,” he said.
Khavari was born in Iran in 1943, but at the early age of two, his family moved to India where his father—a leader in the Baha’i community—had work. After two years in India, the family returned to Iran. Khavari later served two years in the Education Corps as a teacher in the village of Liavole Oliya in northern Iran, where he built the school.
Khavari later went on to study at the University of Hamburg and the University of Bremen in Germany, where he earned his doctorate in economics. Two years before the 1979 revolution, Khavari and his late wife, Louise, immigrated to the United States, settling in Miami in 1978. In December 1978, Louise died while under medical care. The following year, Khavari’s father was executed by the regime because his father refused to renounce his Baha’i faith, Khavari said.
He told the Iran Times he has not returned to his native Iran since June 1977.
In 1985, Khavari married his current wife, Janilla, with whom he began a family. Armin was born in 1987 and Bianca in 1988. Khavari and his wife run a small business in Miami and have lived there for more than two decades.
Khavari’s website says: “I am the only candidate with a specific plan to fix Florida’s economy. I am not a politician, I’m an economist…. Florida has huge economic potential, but what we have are huge economic problems. Wall Street, the banks, and the politicians have screwed it up royally this time. We can’t look to Wall Street, or the banks, or Washington, or our Florida politicians to solve these problems. Our Florida politicians helped create this mess, yet not one of them has a plan to fix it, only plans for how to get elected.”
He told the Iran Times, “I am getting everyday more and more attention locally, nationally and internationally. Our campaign is developing to a grass-roots movement. In order for us to win the election and realize our economic plan, we must get our message to the average people in Florida. This requires plenty of small financial contributions as well as volunteers. Our campaign is built only on people power.”
The deadline for candidate filings is June 18, so Khavari won’t know for certain how many opponents he will have until then. Khavari’s campaign website is located at http://www.khavariforgovernor.com
