Money bomb is a one-day political fundraiser organized by grassroots supporters to show support and encourage campaign contributions. It originated during the 2008 presidential election when supporters of Ron Paul organized a record-breaking fundraising event that raised over $4 million in 24 hours. The first money bomb was so successful that supporters continued to hold more events, raising over $6 million for the anniversary of the Boston Tea Party. The term money bomb was chosen due to the significance of the dates of these events and the book “The Money Bomb” by James Gibb Stuart, which details financial policy.
The term “money bomb” was coined to describe a political fundraiser, usually a one-day event, organized by grassroots campaign supporters. It is seen as a slang term, but certainly not without interest. One aspect of the money bomb is that it functions as a vehicle through which those who favor a particular candidate can show support and help encourage campaign contributions. Unlike a typical fundraising event, a money bomb is meant to break records, to get attention.
The idea originated during the 2008 presidential election season, when supporters believed that Ron Paul, a ten-term Republican congressman running for president, was being marginalized or ignored by the media. They believed a record-breaking fundraising event would attract media attention. How could the news outlets ignore such a feat and maintain any credibility in their election coverage?
The first money bomb raised over $4 million in twenty-four hours, through small individual donations, most of which were raised online. The event occurred on November 5, known in England as Guy Fawkes Day. Fawkes was a revolutionary who plotted against what he believed to be overkill government. As Ron Paul’s Revolution sought non-violent change, Guy Fawkes symbolism was incorporated into the event as well as images from the film “V for Vendetta,” which recalls Fawkes’ story.
The first money bomb was so successful that supporters decided to continue, holding up another money bomb commemorating the anniversary of the Boston Tea Party. Not surprisingly, the Boston Tea Party was another act of retaliation by the people against the government. That event raised more than $6 million (USD), setting yet another fundraising record and giving the nominee more than $10 million of his $12 million fourth-quarter goal. The campaign finished the year bringing back nearly $20 million for the quarter, well over its stated goal.
The significance of the dates of these money bomb events may offer an idea as to why the term money bomb was chosen by those who organized the fundraiser. The Money Bomb is the title of a book, written by James Gibb Stuart. The book was written to detail financial policy, and sound monetary policy is also one of the big problems with Ron Paul’s platform. The book was said to have been banned in the UK shortly after its release, but is now available online.
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