-vs- The Federal Reserve
An overlooked aspect of Kennedy's attempt to reform American society involves money.
Kennedy apparently reasoned that by returning to the Constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System; a private credit monopoly deceitfully placed upon this country by bankers who came here from Europe and who repaid us for our hospitality by undermining our American institutions.
On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110 (included below), was signed with the authority to basically strip the Federal Reserve 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.
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.
When President John Fitzgerald Kennedy 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 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.
That same day, Kennedy signed a bill changing the backing of one and two dollar bills from silver to gold, adding strength to the weakened U.S. currency.
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.
The Notes 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" continue to serve as the legal currency of the nation.
Just five months after Kennedy was assassinated, no more of the Series 1958 "Silver Certificates" were issued either, and they were subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future presidents not to interfere with the private Federal Reserve's control over the creation of money. It seems very apparent that President Kennedy challenged the "powers that exist behind U.S. and world finance".
With true patriotic courage, JFK boldly faced the most successful vehicle that has ever been used to drive up debt: The creation of money by a privately owned central bank.
His efforts with Executive Order 11110 would have destroyed the profits and control of the private Federal Reserve Bank and the International Banking Cartel. It would have also prevented the national debt from reaching its current level, and almost immediately given the U.S. Government the ability to repay its debt.
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 - (a) 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 denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption," and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof. SECTION 2. The amendment 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