Some of you know this, many do not: President John F. Kennedy saw a long time ago that the Federal Reserve, a largely private entity, was going to strip the U.S. economy to the bone. Here’s what hapenned:

On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy’s order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury.” This meant that for every ounce of silver in the U.S. Treasury’s vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.

With the stroke of a pen, Mr. Kennedy was on his way to putting the Federal Reserve Bank of New York out of business. If enough of these silver certificats were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the gevernment the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver.

After Mr. Kennedy was assassinated just five months later, no more silver certificates were issued. This Executive Order was never repealed by any U.S. President through an Executive Order and is still valid. Why then has no president utilized it? And why won’t Obama or McCain? Bone up on ye olde Bank of England, why this nation was founded, and the implementation of the Federal Reserve, and you’ll learn the answer.

Summary of Kennedy’s Losing Battle (he ended up dead on the street)

You may find this chart of interest.

Check the bill below. 1963 UNITED STATES NOTE. Now look at the one in your pocket.

Tags: banks, executive order, federal reserve, john kennedy, kennedy

This entry was posted on Monday, October 13th, 2008 at 5:11 pm and is filed under Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.