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JFK vs. The Federal Reserve


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The fact that JFK was assassinated was, and continues to be, observed by millions of people. How many of those millions have actually spent more time than just asking "Why?". More importantly, the Who behind the Why is still being debated around the world, in spite of, if not because of, the Warren Commission's lamentable conclusion that Lee Harvey Oswald was the 'lone gunmen'; a conclusion and finding that was supposed to preclude any further investigation into the very real potential of a vast consiracy to murder the President.

The Vietnam War was already a money maker, no doubt. In fact, a purchase order was in the works for over 3000 helicopters in 1963! We were organizing to bring 'democracy' and freedom from "communism" on the point of a spear, or at the tip of a rotor blade, at least. Another guerrilla war was about to rage, and ultimately become victorious, like 99% of past guerrilla wars. Enter the 'counter insurgent' mentality and warriors. The French had lost in Vietnam, 'but that was the French".

The declared pullout of our 'advisors' by Kennedy in 1963 certainly shook up alot of those intimately involved in the above contract and not just a few others, all depending on the war being expanded exponentially, thereby requiring billions of dollars in contracts for additional military equipment; tens of billions, and cushy jobs after retirement for those on the cutting edge of the contracts at the Pentagon.

But screwing with the Fed, that conglomoration of civilian bankers described below, if successfull, would have costs the banks involved into the tens of trillions had Kennedy's plans for withdrawal come to fruition. In fact, it was just beginning, much to the consternation of those mentoned below.

What to do? Obviously, Kennedy's removal from office became the solution. Johnson would agree to halt what Kennedy began with the reconstruction of our monetary system. Johnson could be counted on.

The instruments of use for this crime against the Constitution were those organizations who had their collective faces rubbed in the dirt of political rulings. The FBI, and Hoover specifically destested the Kennedy's and Bobby in particular. Count on J. Edgar for assisstance. The Pentagon and DOD were equally chargrined at the upcoming withdrawal from Vietnam. Their resouces could be counted on. CIA was pissed that their covert and clandestine activities (actually two different types of warfare) were then under the purview of DOD because of the U2 Incident and the Bay of Pigs fiasco, so they could be counted on, in the guise and with the guile of Ed Lansdale. This cabal became the instrument of the Fed. Now find out why.

Bests,

John McCarthy

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

http://johnmccarthy90066.tripod.com/id808.html

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JFK vs. The Federal Reserve

by Anthony Wayne - Lawgiver.org

On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, 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.

The Christian Law Fellowship has exhaustively researched this matter through the Federal Register and Library of Congress. We can now safely conclude that 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 realm value worth something.

Again, according to our own research, 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 two most successful vehicles that have ever been used to drive up debt:

1) war (Viet Nam); and,

2) the creation of money by a privately owned central bank. His efforts to have all U.S. troops out of Vietnam by 1965 combined with Executive Order 11110 would have destroyed the profits and control of the private Federal Reserve Bank.

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 © 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

Once again, Executive Order 11110 is still valid. According to Title 3, United States Code, Section 301 dated January 26, 1998:

Executive Order (EO) 10289 dated Sept. 17, 1951, 16 F.R. 9499, was as amended by:

EO 10583, dated December 18, 1954, 19 F.R. 8725;

EO 10882 dated July 18, 1960, 25 F.R. 6869;

EO 11110 dated June 4, 1963, 28 F.R. 5605;

EO 11825 dated December 31, 1974, 40 F.R. 1003;

EO 12608 dated September 9, 1987, 52 F.R. 34617 The 1974 and 1987 amendments, added after Kennedy's 1963 amendment, did not change or alter any part of Kennedy's EO 11110. A search of Clinton's 1998 and 1999 EO's and Presidential Directives has also shown no reference to any alterations, suspensions, or changes to EO 11110.

The Federal Reserve Bank, a.k.a Federal Reserve System, is a Private Corporation. Black's Law Dictionary defines the 'Federal Reserve System' as: 'Network of twelve central banks to which most national banks belong and to which state chartered banks may belong. Membership rules require investment of stock and minimum reserves.' Privately-owned banks own the stock of the FED. This was explained in more detail in the case of Lewis v. United States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982), where the court said: 'Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stock-holding commercial banks elect two thirds of each Bank's nine member board of directors.'

The Federal Reserve Banks are locally controlled by their member banks. Once again, according to Black's Law Dictionary, we find that these privately owned banks actually issue money:

'Federal Reserve Act Law which created Federal Reserve banks which act as agents in maintaining money reserves, issuing money in the form of bank notes, lending money to banks, and supervising banks. Administered by Federal Reserve Board (q.v.)'.

The privately owned Federal Reserve (FED) banks actually issue (create) the 'money' we use. In 1964, the House Committee on Banking and Currency, Subcommittee on Domestic Finance, at the second session of the 88th Congress, put out a study entitled Money Facts which contains a good description of what the FED is: 'The Federal Reserve is a total money-making machine. It can issue money or checks. And it never has a problem of making its checks good because it can obtain the $5 and $10 bills necessary to cover its check simply by asking the Treasury Department's Bureau of Engraving to print them.'

Any one person or any closely knit group who has a lot of money has a lot of power. Now imagine a group of people who have the power to create money. Imagine the power these people would have. This is exactly what the privately owned FED is!

No man did more to expose the power of the FED than Louis T. McFadden, who was the Chairman of the House Banking Committee back in the 1930s. In describing the FED, he remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932:

'Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and he people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.'

Some people think the Federal Reserve Banks are United States Government institutions. They are not Government institutions, departments, or agencies. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers. Those 12 private credit monopolies were deceitfully placed upon this country by bankers who came here from Europe and who repaid us for our hospitality by undermining our American institutions.

The FED basically works like this:

The government granted its power to create money to the FED banks. They create money, then loan it back to the government charging interest. The government levies income taxes to pay the interest on the debt. On this point, it's interesting to note that the Federal Reserve Act and the sixteenth amendment, which gave congress the power to collect income taxes, were both passed in 1913. The incredible power of the FED over the economy is universally admitted. Some people, especially in the banking and academic communities, even support it. On the other hand, there are those, such as President John Fitzgerald Kennedy, that have spoken out against it. His efforts were spoken about in Jim Marrs' 1990 book Crossfire:'

Another 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, who print paper money then loan it to the government at interest. He moved in this area on June 4, 1963, by signing Executive Order 11110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System. 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.

Kennedy's comptroller of the currency, James J. Saxon, had been at odds with the powerful Federal Reserve Board for some time, encouraging broader investment and lending powers for banks that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks could underwrite state and local general obligation bonds, again weakening the dominant Federal Reserve banks.'

In a comment made to a Columbia University class on Nov. 12, 1963, ten days before his assassination, President John Fitzgerald Kennedy allegedly said:

'The high office of the President has been used to foment a plot to destroy the American's freedom and before I leave office, I must inform the citizen of this plight.'

In this matter, John Fitzgerald Kennedy appears to be the subject of his own book... a true Profile of Courage.

Source:

www.thetruthseeker.co.uk

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In accordance with Title 17 U.S.C. Section 107, the articles posted on this website are distributed for their included information without profit for research and/or educational purposes only. This website has no affiliation whatsoever with the original sources of the articles nor are we sponsored or endorsed by any of the original sources.

© Copyright John McCarthy 2005 if not indicated otherwise

Ages ago, I taught my children "never to point with a naked finger towards dressed people" and I usually keep that for myself as well but for this website I have to quote:

"The Emporer Has NO Clothes On!"

Traude

Want to get in touch? You can send email at:

John: vpocv@hotmail.com

or

Traude: vpocv2@hotmail.de

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Guest John Gillespie

Thank you, John. I have held this belief for many years and I don't think it is a concept that requires a lot of deep thought (though certainly I appreciate your sholarly reporting of the facts). Fellow Forum Member Jim Marrs has written so in "Rule By Secrecy" and it has been chronicled in frequent and lengthy fashion.

"Give me control of a country's money, and I care not who makes it's laws." - M.A. Bauer (Rothschi|d)

Geez, I should apologize, eh, to the Usual Suspects out there? Sorry out there, that quote was probably too Birch-like for you.

John Gillespie

Fellow Veteran

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When the theory that the FED got rid of JFK because of Executive Order 11110 has arisen in the past, I have posted this link to an article by economics professor Edward Flaherty.

The article seems to thoroughly debunk this theory, but I am no banker and know nothing about economics. If the article is wrong, I would appreciate someone pointing out why, and I will stop posting it whenever this subject arises.

http://www.geocities.com/CapitolHill/Senat.../flaherty9.html

Edited by Ron Ecker
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Jonathan May

Jonathan May attempted to free us from the shackles of the Federal Reserve by creating an alternate banking system with instruments backed by land, raw materials, mineral deposits, oil, coal, timber, and other wilderness holdings. Jonathan aided Governor Connolly and the Hunt brothers in their effort to corner the silver market. The silver would have been used to create a "Bank of Texas" issue of "real money." This would have destroyed the Federal Reserve had the Hunts been successful. When the world bankers realized what was happening, they destroyed Connolly, the Hunt Brothers, Jonathan May, and Texas.

The Federal Reserve entrapped Mr. May by intentionally routing his credit instruments through the Federal Reserve, against the terms clearly stated upon those instruments, instead of through Mr. May's alternate system. Jonathan May was illegally arrested, illegally tried, and illegally imprisoned in the Federal prison at Terre Haute, Indiana....

The full May story can be found at the link - I believe it is too lengthy to cut and paste.

http://www.ssrsi.org/os1/BBStext/jon_may.htm

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Here's an interesting premise for a movie which will never be made.

A family man - begins to research the origin of the Federal Reserve. He then discovers that there is no real legitimate basis for this institution. He continues to dig, and finds that on the basis of the Grace report, his tax dollars do not fund anything - let alone the concept of paying for the salaries of Federal employees and programs - that the debt owed to the Reserve is so astronomically high that the tax dollars of the entire US do not even cover a fraction of it each year. He continues digging and discovers that there is no legal basis for the IRS - no legal basis for the Federal Income tax - mixing in elements of Bartleby the Scrivener, The Chocolate War, Walden Pond and some civil disobedience type stuff, he decides not to pay any Federal Income Tax that year. He is of course, arrested and eventually imprisoned. Throw in some touching visitation scenes with his wife and kids. Somehow a fresh Attorney gets stuck with his case on a pro bono - the court case receives some noteriety by the press. The attorney begins to make the case. Former IRS agents are introduced to provide testimony of how they quit their former jobs due to their own failure to justify their positions, since there is no legal foundation for the tax. The account of how the Federal Reserve was created, and how it works, is elborated upon during the course of the trial. The attorney at some point begins to receive threats. The new firm he is with is putting a lot of pressure on him, and is looking to possibly pull him off the mound. Maybe he even counter sues for the return of all of this man's back taxes. It ends up with a deal being cut, and some idiotic event takes place somewhere in the world that draws all of the media focus, and the case is forgotten. I guess it ends with the man's house being torn down and neighbors wondering where and when they had decided to move - since no one can recall having seen them for awhile.

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Here's an interesting premise for a movie which will never be made.

A family man - begins to research the origin of the Federal Reserve. He then discovers that there is no real legitimate basis for this institution. He continues to dig, and finds that on the basis of the Grace report, his tax dollars do not fund anything - let alone the concept of paying for the salaries of Federal employees and programs - that the debt owed to the Reserve is so astronomically high that the tax dollars of the entire US do not even cover a fraction of it each year. He continues digging and discovers that there is no legal basis for the IRS - no legal basis for the Federal Income tax - mixing in elements of Bartleby the Scrivener, The Chocolate War, Walden Pond and some civil disobedience type stuff, he decides not to pay any Federal Income Tax that year. He is of course, arrested and eventually imprisoned. Throw in some touching visitation scenes with his wife and kids. Somehow a fresh Attorney gets stuck with his case on a pro bono - the court case receives some noteriety by the press. The attorney begins to make the case. Former IRS agents are introduced to provide testimony of how they quit their former jobs due to their own failure to justify their positions, since there is no legal foundation for the tax. The account of how the Federal Reserve was created, and how it works, is elborated upon during the course of the trial. The attorney at some point begins to receive threats. The new firm he is with is putting a lot of pressure on him, and is looking to possibly pull him off the mound. Maybe he even counter sues for the return of all of this man's back taxes. It ends up with a deal being cut, and some idiotic event takes place somewhere in the world that draws all of the media focus, and the case is forgotten. I guess it ends with the man's house being torn down and neighbors wondering where and when they had decided to move - since no one can recall having seen them for awhile.

**********************************************************

Excerpted from Prouty.org "Letter Of The Day" section, dated December 1997:

NSAM 11110 aka Executive Order 11110:

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 certificates 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 government 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, if so, is he willing to pay the ultimate price for doing so?

***[Clinton did pay the ultimate price by way of having his character assassinated by Ken Starr via Monica-gate and Whitewater-gate, for his attempt to dismantle The Federal Reserve. My emphasis. TM]***

___________________________________________

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 of section 43 of the Act of May 12,1933, as amended [31 U.S.C.821], 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 --

By revoking subparagraphs 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.

The available supply of Gold and Silver being wholly inadequate to permit the issuance of coins of intrinsic value or paper currency convertible into coin in the volume required to serve the needs of the People, some other basis for the issue of currency must be developed, and some means other than that of convertibility into coin must be developed to prevent undue fluctuation in the value of paper currency or any other substitute for money of intrinsic value that may come into use.

The monetary needs of increasing numbers of People advancing towards higher standards of living can and should be met by the Government. Such needs can be served by the issue of National Currency and Credit through the operation of a National Banking system .The circulation of a medium of exchange issued and backed by the Government can be properly regulated and redundancy of issue avoided by withdrawing from circulation such amounts as may be necessary by Taxation, Redeposit, and otherwise. Government has the power to regulate the currency and credit of the Nation.

Government should stand behind its currency and credit and the Bank deposits of the Nation. No individual should suffer a loss of money through depreciation or inflated currency or Bank bankruptcy.

Government possessing the power to create and issue currency and creditas money and enjoying the right to withdraw both currency and credit from circulation by Taxation and otherwise need not and should not borrow capital at interest as a means of financing Governmental work and public enterprise. The Government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of the consumers. The privilege of creating and issueing money is not only the supreme prerogative of Government, but it is the Governments greatest creative opportunity.

By the adoption of these principles the long felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts, and exchanges. The financing of all public enterprise, the maintenance of stable Government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own Government. Money will cease to be master and become the servant of humanity. Democracy will rise superior to the money power."

_____________________________________________

Some information on the Federal Reserve: The Federal Reserve, a Private Corporation.

One of the most common concerns among people who engage in any effort to reduce their taxes is, "Will keeping my money hurt the government's ability to pay it's bills?"

As explained in the first article in this series, the modern withholding tax does not, and wasn't designed to, pay for government services. What it does do, is pay for the privately-owned Federal Reserve System.

Black's Law Dictionary defines the "Federal Reserve System" as, "Network of twelve central banks to which most national banks belong and to which state chartered banks may belong. Membership rules require investment of stock and minimum reserves."

Privately-owned banks own the stock of the Fed. This was explained in more detail in the case of Lewis v. United States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982), where the court said:

"Each Federal Reserve Bank is a separate corporation owned by commercial banks in its region. The stock-holding commercial banks elect two thirds of each Bank's nine member board of directors.

Similarly, the Federal Reserve Banks, though heavily regulated, are locally controlled by their member banks. Taking another look at Black's Law Dictionary, we find that these privately owned banks actually issue money:

Federal Reserve Act. Law which created Federal Reserve banks which act as agents in maintaining money reserves, issuing money in the form of bank notes, lending money to banks, and supervising banks. Administered by Federal Reserve Board (q.v.)."

The FED banks, which are privately owned, actually issue, that is, create, the money we use. In 1964 the House Committee on Banking and Currency, Subcommittee on Domestic Finance, at the second session of the 88th Congress, put out a study entitled Money Facts which contains a good description of what the FED is:

"The Federal Reserve is a total money-making machine.It can issue money or checks. And it never has a problem of making its checks good because it can obtain the $5 and $10 bills necessary to cover its check simply by asking the Treasury Department's Bureau of Engraving to print them."

As we all know, anyone who has a lot of money has a lot of power. Now imagine a group of people who have the power to create money. Imagine the power these people would have. This is what the Fed is.

No man did more to expose the power of the Fed than Louis T. McFadden, who was the Chairman of the House Banking Committee back in the 1930s. Constantly pointing out that monetary issues shouldn't be partisan, he criticized both the Herbert Hoover and Franklin Roosevelt administrations. In describing the Fed, he remarked in the Congressional Record, House pages 1295 and 1296 on June 10, 1932, that:

"Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Reserve Board, a Government Board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve Banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through the maladministration of that law by which the Federal Reserve Board, and through the corrupt practices of the monied vultures who control it.

Some people think the Federal reserve banks are United States Government institutions. They are not Government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into States to buy votes to control our legislation; and there are those who maintain an international propaganda for the purpose of deceiving us and of wheedling us into the granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime. Those 12 private credit monopolies were deceitfully and disloyally foisted upon this country by bankers who came here from Europe and who repaid us for our hospitality by undermining our American institutions."

The Fed basically works like this: The government granted its power to create money to the Fed banks. They create money, then loan it back to the government charging interest. The government levies income taxes to pay the interest on the debt. On this point, it's interesting to note that the Federal Reserve act and the sixteenth amendment, which gave congress the power to collect income taxes, were both passed in 1913. The incredible power of the Fed over the economy is universally admitted. Some people, especially in the banking and academic communities, even support it. On the other hand, there are those, both in the past and in the present, that speak out against it. One of these men was President John F. Kennedy. His efforts were detailed in Jim Marrs' 1990 book, Crossfire:

"Another 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, who print paper money then loan it to the government at interest. He moved in this area on June 4, 1963, by signing Executive Order 11,110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System. 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.

Kennedy's comptroller of the currency, James J. Saxon, had been at odds with the powerful Federal Reserve Board for some time, encouraging broader investment and lending powers for banks that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks could underwrite state and local general obligation bonds, again weakening the dominant Federal Reserve banks.

A number of "Kennedy bills" were indeed issued - the author has a five dollar bill in his possession with the heading "United States Note" - but were quickly withdrawn after Kennedy's death. According to information from the Library of the Comptroller of the Currency, Executive Order 11,110 remains in effect today, although successive administrations beginning with that of President Lyndon Johnson apparently have simply ignored it and instead returned to the practice of paying interest on Federal Reserve notes. Today we continue to use Federal Reserve Notes, and the deficit is at an all-time high."

The point being made is that the IRS taxes you pay aren't used for government services. It won't hurt you, or the nation, to legally reduce or eliminate your tax liability.

Edited by Terry Mauro
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I give up. (See my post #3.) And anyway we know that Prouty was always right.

Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss.

Not the least of those issues is subsequent related legislation that was passed after Kennedy had very abruptly been taken out of the picture.

I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder.

In the balance, for someone like Professor Flaherty to submit the equivalent of a senior high school paper as a final judgment on the non-relationship of the Federal Reserve to moneyed interests already in the play seems to reflect badly on schooling taking place at the College of South Carolina.

Ashton

Edited by Ashton Gray
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To repeat myself:

The article seems to thoroughly debunk this theory, but I am no banker and know nothing about economics. If the article is wrong, I would appreciate someone pointing out why

You take a dim view of the article and the author's schooling, but I'm still waiting for you or someone to tell me why the article is wrong.

The whole subject goes over my head, and I have the increasing impression that my head is not alone. The true import of this executive order is either a myth that needs to be debunked (as the article at least attempts to do), or someone needs to explain why it is not a myth and why the author of the article is incorrect in what appear to be clear statements.

Someone with the knowledge and resources could do the research community a great service by writing an article to clear this myth or reality up once and for all.

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I give up. (See my post #3.) And anyway we know that Prouty was always right.

Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss.

Not the least of those issues is subsequent related legislation that was passed after Kennedy had very abruptly been taken out of the picture.

I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that

issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder.

In the balance, for someone like Professor Flaherty to submit the equivalent of a senior high school paper as a final judgment on the non-relationship of the Federal Reserve to moneyed interests already in the play seems to reflect badly on schooling taking place at the College of South Carolina.

Ashton

******************************************************

"Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss."

And, snide is how Ron Ecker seems to come off to me, regarding Prouty.

"I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder."

Exactly! And, you won't find any sole entity to hang it on, or point the finger to, either. Because, it was a group comprised of a combination of those above mentioned who utilized the services and representatives of their own private armed forces of covert operators; police [peace (?)] officers, be they Metro or S.W.A.T. Teams; goon squads, be they modern day Ivy League educated Mafioso family lieutenants; working in collusion with the connections they all held [bought] within both, the C.I.A. and the F.B.I.

Dismantling The Federal Reserve was only ONE of the major mortal sins this power base held JFK in contempt for, all sweeping generalities Ron Ecker may sttribute to my comments, aside.

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http://cgi.ebay.com/5-00-note-1963-with-Re...bayphotohosting

In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation.
Others later said that the very first presidential act by Lyndon Johnson was the rescinding of that Kennedy order on Saturday morning, Nov. 23, 1963. However, there is no existing record of such action in the law library. Considering the apparent devious removal of other documents, as well as the surreptitious insertion of even more, this void of available data does not mean the subterfuge did not take place, but we suspect it was another ungrounded rumor.

Some researchers have attempted to obtain a copy of Executive Order 11110 and have been told it does not exist. We have found it but without any mention of the amount-$4.3 billion or any other figure. Was it "deep-sixed," as apparently was the original 13th amendment? Can anyone produce a certified copy of either the Kennedy Order or the Johnson Recission? The one copy we have seen of the Kennedy Order contained the (rumored) wording, the date, the amounts, etc., but no signature or seal. Except for these discrepancies, it appeared to have been copied from an original. However, we could not prove its authenticity with anything found in the law books. There we found only the Executive Order for the silver certificates with no specific amount mentioned.

http://members.home.net/flaherty15/jfk.htm

EO 11110 did not order any money issued, and it certainly didn't mention any sort of money other than silver certificates. It was a merely a delegation by the Prez to the Secretary of the Treasury of the discretion created in a 1933 law to decide whether or when to issue more silver certificates (which, by 1963, were used only for one dollar bills) JFK issued this to facilitate the Silver Purchase Repeal Act, PL 88-36, 77 Stat 54, which he had signed the same day, June 4, 1963. That Act repealed a requirement created in a 1934 statute that the Treasury maintain and continually accumulate metallic silver. The 1963 act was intended to flush the remaining silver out of the Treasury vaults by having the Treasury pay out its remaining silver in redemption of silver certificates, and the Executive Order would enable the Secretary of Treasury to issue more silver certificates if it were found that there was still silver remaining in the Treasury vaults.

As it happened, this delegation of authority did not result in any silver certificates being issued. The 1963 statute and the Executive Order 11110 were both aimed at facilitating the changeover of all US paper money to Federal Reserve Notes.

On this and other threads on this topics I have seen nonsensical claims that the EO mysterious vanished or was repealed. On the contrary, it is readily found in any law library; EO 11110 is found to this day in the official note to 3 US Code sec. 301. It was signed on June 4, 1963, first printed in the Federal Register on June 7 (28 FR 5605) and thereafter in the temporary and permanent edition of US Code Congressional & Administrative News for 1963 p. 1737, and several other places. I have also seen claims that the EO was intended to generate some special new kind of money - no, only silver certificates (which, in 1963, meant $1 bills).

Looks as if this needs work. Was it $4.3B or not? $1 bills?

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This is not a federal reserve note, correct?

Sorry to be obtuse, I'm just sort of incredulous.

This is proof that Kennedy had US treasury notes printed, right?

I read somewhere that President Kennedy's executive order to print US notes was never actually reversed by subsequent white house occupants, just not utilized. Now I don't recall where I read it. But the point is, maybe not every executive order has to be reversed, they can just be ignored (?) That might partly explain the lack of subsequent paper trail.

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I give up. (See my post #3.) And anyway we know that Prouty was always right.

Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss.

Not the least of those issues is subsequent related legislation that was passed after Kennedy had very abruptly been taken out of the picture.

I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that

issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder.

In the balance, for someone like Professor Flaherty to submit the equivalent of a senior high school paper as a final judgment on the non-relationship of the Federal Reserve to moneyed interests already in the play seems to reflect badly on schooling taking place at the College of South Carolina.

Ashton

******************************************************

"Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss."

And, snide is how Ron Ecker seems to come off to me, regarding Prouty.

"I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder."

Exactly! And, you won't find any sole entity to hang it on, or point the finger to, either. Because, it was a group comprised of a combination of those above mentioned who utilized the services and representatives of their own private armed forces of covert operators; police [peace (?)] officers, be they Metro or S.W.A.T. Teams; goon squads, be they modern day Ivy League educated Mafioso family lieutenants; working in collusion with the connections they all held [bought] within both, the C.I.A. and the F.B.I.

Dismantling The Federal Reserve was only ONE of the major mortal sins this power base held JFK in contempt for, all sweeping generalities Ron Ecker may sttribute to my comments, aside.

Ron's approach to this topic - on my reading - is that he maintains an open mind about the Fed, it's role, significance and means of operation - and Kennedy's relationship with it. He is willing to embrace an unorthodox view on these topics, but will not do so without convincing evidence. Part of the process of establishing such evidence would be to debunk orthodox viewpoints in rigorous debate.

If that's being 'snide', I please guilty also.

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I give up. (See my post #3.) And anyway we know that Prouty was always right.

Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss.

Not the least of those issues is subsequent related legislation that was passed after Kennedy had very abruptly been taken out of the picture.

I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that

issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder.

In the balance, for someone like Professor Flaherty to submit the equivalent of a senior high school paper as a final judgment on the non-relationship of the Federal Reserve to moneyed interests already in the play seems to reflect badly on schooling taking place at the College of South Carolina.

Ashton

******************************************************

"Prouty notwithstanding, I've read the article you've linked to in post #3 and find it sorely wanting, while you present it as being somehow dispositive. It is not. It is a cursory and superficial (not to say snide) dismissal that raises as many issues as it purports to dismiss."

And, snide is how Ron Ecker seems to come off to me, regarding Prouty.

"I am not Pollyana enough or whack enough to posit that Federal Reserve directors huddled in back rooms and plotted or had the means to carry out the murder of John F. Kennedy, or that issues connected with the Federal Reserve policies and practices constituted some sole motivation for the murder."

Exactly! And, you won't find any sole entity to hang it on, or point the finger to, either. Because, it was a group comprised of a combination of those above mentioned who utilized the services and representatives of their own private armed forces of covert operators; police [peace (?)] officers, be they Metro or S.W.A.T. Teams; goon squads, be they modern day Ivy League educated Mafioso family lieutenants; working in collusion with the connections they all held [bought] within both, the C.I.A. and the F.B.I.

Dismantling The Federal Reserve was only ONE of the major mortal sins this power base held JFK in contempt for, all sweeping generalities Ron Ecker may sttribute to my comments, aside.

Ron's approach to this topic - on my reading - is that he maintains an open mind about the Fed, it's role, significance and means of operation - and Kennedy's relationship with it. He is willing to embrace an unorthodox view on these topics, but will not do so without convincing evidence. Part of the process of establishing such evidence would be to debunk orthodox viewpoints in rigorous debate.

If that's being 'snide', I please guilty also.

What I tried—and apparently failed miserably—to point out in this regard is that this area is a complex study worthy of a great deal of research and analysis. While I make no case that the case for Federal Reserve issues being involved in the assassination has been made, at the same time I believe that the sophomoric treatise at issue is tissue-thin as some "thorough debunking" of all the matters that have been raised in that regard.

Even Flaherty's own paper points to statuatory considerations going back decades, and to fully understand those would be to step into Constitutional issues.

Then the very genesis of the Federal Reserve and its assumed and practical powers comes into play—a subject on which oceans of ink have been spilled.

It is inarguable that significant changes to currency and coin came into play surrounding and after the assassination.

And all of it is tethered to considerations and complications of the power of Presidential Executive Orders vis-a-vis all the foregoing.

The "open mind" doesn't declare the accomplishment of "debunking" of all possible relevant considerations and ramifications with a wave of Flaherty flatulence.

Ashton

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