Welcome login | signup
Language en es fr
OccupyForum

Forum Post: JFK and the FED

Posted 12 years ago on Oct. 15, 2011, 2:34 p.m. EST by Cicero (407)
This content is user submitted and not an official statement

On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business. This Executive Order has never been repealed, amended, or superceded by any subsequent Executive Order. In simple terms, it is still valid.

When President John Fitzgerald Kennedy - the author of Profiles in Courage -signed this Order, it returned to the federal government, specifically the Treasury Department, the Constitutional power to create and issue currency -money - without going through the privately owned Federal Reserve Bank. President Kennedy's Executive Order 11110 [the full text is displayed further below] gave the Treasury Department the explicit authority: "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This means that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation based on the silver bullion physically held there. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. $10 and $20 United States Notes were never circulated but were being printed by the Treasury Department when Kennedy was assassinated. It appears obvious that President Kennedy knew the Federal Reserve Notes being used as the purported legal currency were contrary to the Constitution of the United States of America.

"United States Notes" were issued as an interest-free and debt-free currency backed by silver reserves in the U.S. Treasury. We compared a "Federal Reserve Note" issued from the private central bank of the United States (the Federal Reserve Bank a/k/a Federal Reserve System), with a "United States Note" from the U.S. Treasury issued by President Kennedy's Executive Order. They almost look alike, except one says "Federal Reserve Note" on the top while the other says "United States Note". Also, the Federal Reserve Note has a green seal and serial number while the United States Note has a red seal and serial number.

President Kennedy was assassinated on November 22, 1963 and the United States Notes he had issued were immediately taken out of circulation. Federal Reserve Notes continued to serve as the legal currency of the nation. According to the United States Secret Service, 99% of all U.S. paper "currency" circulating in 1999 are Federal Reserve Notes.

Kennedy knew that if the silver-backed United States Notes were widely circulated, they would have eliminated the demand for Federal Reserve Notes. This is a very simple matter of economics. The USN was backed by silver and the FRN was not backed by anything of intrinsic value. Executive Order 11110 should have prevented the national debt from reaching its current level (virtually all of the nearly $9 trillion in federal debt has been created since 1963) if LBJ or any subsequent President were to enforce it. It would have almost immediately given the U.S. Government the ability to repay its debt without going to the private Federal Reserve Banks and being charged interest to create new "money". Executive Order 11110 gave the U.S.A. the ability to, once again, create its own money backed by silver and real value worth something.

14 Comments

14 Comments


Read the Rules
[-] 1 points by Gnatto (1) from Hamilton, NJ 12 years ago

That was a very good move by Pres. Kennedy. Obama should do the same. A state should print its own currency and not borrow from the FED. The FED doesn't belong to the US Gov.. It is a very private corp. owned by 12 other regional banks.

[-] 1 points by Dontbedaft (155) 12 years ago

Excellent post. Brings credibility to this ows movement.

[-] 1 points by FedWallFedWellFedUP (183) 12 years ago

Wow! This is incredible...thank you for posting. And, thank you JFK for trying to protect the people.

[-] 1 points by Markmad (323) 12 years ago

Besides the international bankers whom else could possibly have a involvement in our currency; the Queen, the Pope?

[-] 1 points by Cicero (407) 12 years ago

I am almost positive it is still on the books!!!

[-] 1 points by PeoplehaveDNA (305) 12 years ago

Can we still use that executive order today or no?

[-] 1 points by unfleecedbysheep (153) 12 years ago

What ever happened. Did the banks buy up all the silver notes?

[-] 1 points by Cicero (407) 12 years ago

I think the treasury took them out of circulation as they made their way back through the system.

My uncle still has some of the silver certificates that he kept.

[-] 1 points by unfleecedbysheep (153) 12 years ago

oh. thanks.

[-] 1 points by Markmad (323) 12 years ago

Did Abraham Lincoln also attempt to coin his own currency? To test this theory we need to support a candidate who advocates printing his own currency and wait to see what will happen. Politicians also understand that if you do mess with the monetary system you’re dead. Do you think that any of the running candidates will embrace this challenge? Everyone knows that the core of the problem is the currency. How to get to the bottom of remains a crime novel.