Black People Politics : President Kennedy, The Fed And Executive Order 11110

Discussion in 'Black People Politics' started by RAPTOR, Nov 21, 2013.

  1. RAPTOR

    RAPTOR Well-Known Member MEMBER

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    From APFN
    By Cedric X
    11-20-3
    Executive Order 1110 gave the US the ability to create its own money backed by silver. ...
    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. The Final Call has learned that the Executive Order was never repealed by any U.S. President through an Executive Order and is still valid.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? Virtually all of the nearly $6 trillion in debt has been created since 1963, and if a U.S. president had utilized Executive Order 11110 the debt would be nowhere near the current level. Perhaps the assassination of JFK was a warning to future presidents who would think to eliminate the U.S. debt by eliminating the Federal Reserve's control over the creation of money. Mr. Kennedy challenged the government of money by challenging the two most successful vehicles that have ever been used to drive up debt - war and the creation of money by a privately-owned central bank. His efforts to have all troops out of Vietnam by 1965 and Executive Order 11110 would have severely cut into the profits and control of the New York banking establishment. As America's debt reaches unbearable levels and a conflict emerges in Bosnia that will further increase America's debt, one is force to ask, will President Clinton have the courage to consider utilizing Executive Order 11110 and, ifso, is he willing to pay the ultimate price for doing so?
    Executive Order 11110 AMENDMENT OF EXECUTIVE ORDER NO. 10289
    AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY
    By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows:
    Section 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended-
    By adding at the end of paragraph 1 thereof the following subparagraph (j):
    (j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12,1933, as amended (31 U.S.C.821(b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denomination of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption
    and --
    Byrevoking subparagraphs (b) and (c) of paragraph 2 thereof.
    Sec. 2. The amendments made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.
    John F. Kennedy The White House, June 4, 1963.
    Of course, the fact that both JFK and Lincoln met the the same end is a mere coincidence.
    Abraham Lincoln's Monetary Policy, 1865 (Page 91 of Senate document 23.)
    Money is the creature of law and the creation of the original issue of money should be maintained as the exclusive monopoly of national Government.
    Money possesses no value to the State other than that given to it by circulation.
    Capital has its proper place and is entitled to every protection. The wages of men should be recognised in the structure of and in the social order as more important than the wages of money.
    No duty is more imperative for the Government than the duty it owes the People to furnish them with a sound and uniform currency, and of regulating the circulation of the medium of exchange so that labour will be protected from a vicious currency, and commerce will be facilitated by cheap and safe exchanges.
     
  2. RAPTOR

    RAPTOR Well-Known Member MEMBER

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    One of the reasons why kennedy had to go?
    ...Thoughts.
     
  3. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Absolutely, thanks for sharing, just too much of the article was copied and pasted.

     
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