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"We've made the decision not to participate in the public financing system for the general election," Obama says in the video, blaming it on the need to combat Republicans, saying "we face opponents who've become masters at gaming this broken system. John McCain's campaign and the Republican National Committee are fueled by contributions from Washington lobbyists and special interest PACs. And we've already seen that he's not going to stop the smears and attacks from his allies running so-called 527 groups, who will spend millions and millions of dollars in unlimited donations."
Obama's alarmist prophecy - a bit of typical campaign rhetoric meant to scare his own donors into reaching for their credit cards - is wildly at odds with the flatlined state of conservative third-party efforts.
The truth is that, less than five months before Election Day, there are no serious anti-Obama 527s in existence nor are there any immediate plans to create such a group.
Conversations with more than a dozen Republican strategists find near unanimity in the belief that, at some point, there will be a real third-party effort aimed at Obama.
But not one knows who will run it, who will pay for it, what shape it will eventually take or when such a group may form.
More worrisome for Republicans who believe such an outside attack apparatus is essential to defeating Obama, some key individuals and groups who were being looked to for help say they won't be involved.