kennedy executive order

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President Kennedy, the FederalReserve and Executive Order 11110by Cedric X.(From The Final Call, Vol1S, No.6, on -January 17, 1996 (USA))On -June4, 1963, a little known attempt was made to strip the FederalReserve Bank of its power to loan money to the government at interest. Onthat day President -JohnF. Kennedy signed Executive Order No. 11110 thatreturned to the U.S. government the power to issue currency, without goingthrough the Federal Reserve. Mr. Kennedy's order gave the Treasury thepower "to issue silver certificates against any silver bullion, silver, orstandard silver dollars in the Treasury." This meant that for every ounce ofsilver in the U.S. Treasury's vault, the government could introduce newmoney 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 FederalReserve Bank of New York out of business. If enough of these silvercertificats were to come into circulation they would have eliminated thedemand for Federal Reserve notes. This is because the silver certificates arebacked by silver and the Federal Reserve notes are not backed by anything.Executive Order 11110 could have prevented the national debt from reachingits current level, because it would have given the gevernment the ability torepay its debt without going to the Federal Reserve and being chargedinterest in order to create the new money. Executive Order 11110 gave theU.S. the ability to create its own money backed by silver.After Mr. Kennedy was assassinated just five months later, no more silvercertificates were issued. The Final Call has learned that the Executive Orderwas never repealed by any U.S. President through an Executive Order and isstill valid. Why then has no president utilized it? Virtually all of the nearly $6trillion in debt has been created since 1963, and if a U.S. president hadutilized Executive Order 11110 the debt would be nowhere near the currentlevel. Perhaps the assassination of -JFKwas a warning to future presidentswho would think to eliminate the U.S. debt by eliminating the Federal

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Reserve"s control over the creation of money. Mr. Kennedy challenged thegovernment of money by challenging the two most successful vehicles thathave ever been used to drive up debt - war and the creation of money by aprivately-owned central bank. His efforts to have all troops out of Vietnam by1965 and Executive Order 11110 would have severely cut into the profits andcontrol of the New York banking establishment. As America"s debt reachesunbearable levels and a conflict emerges in Bosnia that will further increaseAmerica"s debt, one is force to ask, will President Clinton have the courage toconsider utilizing Executive Order 11110 and, ifso, is he willing to pay theultimate price for dOing so?

Executive Order 11,110AMENDMENT OF EXECUTIVE ORDER NO. 10289AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENTOF THE TREASURYBy virtue of the authority vested in me by section 301 of title 3 of the United StatesCode, it is ordered as follows:Section 1. Executive Order No. 10289 of September 19, 1951, as amended, is herebyfurther 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 section43 of the Act of May 12,1933, as amended (31 U.S.C.821(b)), to issuesilver certificates against any silver bullion, silver, or standardsilver dollars in the Treasury not then held for redemption of anyoutstanding silver certificates, to prescribe the denomination of suchsilver certificates, and to coin standard silver dollars and subsidiarysilver currency for their redemption

andb. 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 rightaccruing or accrued or any suit or proceeding had or commenced in any civil orcriminal cause prior to the date of this Order but all such liabilities shall continueand may be enforced as if said amendments had not been made.John F. KennedyThe White House,June 4, 1963.

Of course, the fact that both JFK and Lincoln met the the same end is a merecoincidence.

Abraham Lincolns Monetary Policy, 1865

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(Page 91 of Senate document 23.)Money is the creature of law and the creation of the original issue of money should bemaintained 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 menshould be recognised in the structure of and in the social order as more importantthan the wages of money.No duty is more imperative for the Government than the duty it owes the People tofurnish them with a sound and uniform currency, and of regulating the circulation ofthe medium of exchange so that labour will be protected from a vicious currency, andcommerce will be facilitated by cheap and safe exchanges.The available supply of Gold and Silver being wholly inadequate to permit the issuanceof coins of intrinsic value or paper currency convertible into coin in the volumerequired to serve the needs of the People, some other basis for the issue of currencymust be developed, and some means other than that of convertibility into coin must bedeveloped to prevent undue fluctuation in the value of paper currency or any othersubstitute for money of intrinsic value that may come into use.The monetary needs of increasing numbers of People advancing towards higher standardsof living can and should be met by the Government. Such needs can be served by theissue of National Currency and Credit through the operation of a National Bankingsystem .The circulation of a medium of exchange issued and backed by the Governmentcan be properly regulated and redundancy of issue avoided by withdrawing fromcirculation such amounts as may be necessary by Taxation, Redeposit, and otherwise.Government has the power to regulate the currency and creditof the Nation.Government should stand behind its currency and credit and the Bank deposits of theNation. No individual should suffer a loss of money through depreciation or inflatedcurrency or Bank bankruptcy.Government possessing the power to create and issue currency and creditas money andenjoying the right to withdraw both currency and credit from circulation by Taxationand otherwise need not and should not borrow capital at interest as a means offinancing Governmental work and public enterprise. The Government should create,issue, and circulate all the currency and credit needed to satisfy the spending powerof the Government and the buying power of the consumers. The privilege of creating andissueing money is not only the supreme prerogative of Government, but it is theGovernments greatest creative opportunity.By the adoption of these principles the long felt want for a uniform medium will besatisfied. The taxpayers will be saved immense sums of interest, discounts, andexchanges. The financing of all public enterprise, the maintenance of stableGovernment and ordered progress, and the conduct of the Treasury will become mattersof practical administration. The people can and will be furnished with a currency assafe as their own Government. Money will cease to be master and become the servant ofhumanity. Democracy will rise superior to the money power.

Some information on the Federal ReserveThe Federal Reserve, a Private CorporationOne of the most,.common concerns among people who engage inany effort toreduce their taxes is, Willkeeping my money hurt the govemments ability to

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pay it's bills?" As explained in the first article in this series, the modernwithholding tax does not, andwasn't designed to, pay for governmentservices. What it does do, is pay for the privately-owned Federal ReserveSystem.Black's Law Dictionary defines the "Federal ReserveSystem" as, "Network oftwelve central banks to which most national banks belong and to which statechartered banksmay belong. Membership rules require investment of stockandminimum reserves."Privately-owned banks own the stock of the Fed.This was explained in moredetail in the case of Lewis v. United States, Federal Reporter, 2ndSeries, Vol.680, Pages1239, 1241 (1982),where the court said:

EachFederal ReserveBank is a separate corporation owned bycommercial banks in its region. The stOCk-holdingcommercial bankselect two thirds of each Bank's nine member boardof directors.

Similarly, the Federal ReserveBanks, though heavily regulated, are locallycontrolled by their member banks. Taking another look at Black's LawDictionary, we find that these privately owned banks actually issue money:

Federal ReserveAct. Law which created Federal Reservebankswhich act as agents in maintaining money reserves, issuing moneyin the form of bank notes, lending money to banks, and supervisingbanks. Administered by Federal ReserveBoard (q.v.).

The FEDbanks, which are privately owned, actually issue, that is, create, themoneywe use. In 1964 the HouseCommittee on Banking andCurrency,Subcommittee on Domestic Finance, at the second session of the 88thCongress, put out a study entitled Money Facts which contains a gooddescription of what the FEDis:

The Federal Reserve is a total money-making machine.lt can issuemoney or checks. And it never has a problem of making its checksgood because it can obtain the $5 and $10 bills necessary to coverits check simply by asking the Treasury Department's BureauofEngraving to print them.

Aswe all know, anyonewho has a lot of money has a lot of power. Now4of7 9/30/99 8:40
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imagine a group of peoplewho have the power to create money. Imagine thepower these peoplewould have. This is what the Fed is.Nomandid more to expose the power of the Fedthan Louis T. McFadden,who was the Chairman of the HouseBanking Committee back in the 1930s.Constantly pointing out that monetary issues shouldn't be partisan, hecriticized both the Herbert Hoover and Franklin Roosevelt administrations. Indescribing the Fed, he remarked in the Congressional Record, Housepages1295and 1296on dune 10, 1932, that:

Mr.Chairman,we have in this country one of the most corruptinstitutions the world has ever known. I refer to the Federal ReserveBoardand the Federal reserve banks. The Federal ReserveBoard, aGovernment Board, has cheated the Government of the UnitedStates and he people of the United States out of enoughmoney topay the national debt. The depredations and the iniquities of theFederal ReserveBoardand the Federal reserve banks actingtogether havecost this country enoughmoney to pay the nationaldebt several times over. This evil institution has impoverished andruined the people of the UnitedStates; has bankrupted itself, andhas practically bankrupted our Government. It has done this throughthe maladministration of that law bywhich the Federal ReserveBoard, and through the corrupt practices of the moneyedvultureswho control it.

Somepeople think the Federal reserve banks are United States Governmentinstitutions. They are not Government institutions. They are private creditmonopolies which prey upon the people of the United States for the benefit ofthemselves and their foreign customers; foreign and domestic speculatorsand swindlers; and rich and predatory money lenders. In that dark crew offinancial pirates there are those who would cut a man's throat to get a dollarout of his pocket; there are those who sendmoney into States to buyvotes tocontrol our legislation; and there are those who maintain an internationalpropaganda for the purpose of deceiving us and of wheedling us into thegranting of new concessions which will permit them to cover up their pastmisdeeds and set again inmotion their gigantic train of crime. Those 12private credit monopolies were deceitfully and disloyally foisted upon thiscountry by bankers who camehere from Europeandwho repaid us for ourhospitality byuhdermining our American institutions.

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The Fedbasically works like this: The government granted its power tocreate money to the Fedbanks. They create money, then loan it back to thegovernment charging interest. The government levies income taxes to paythe interest on the debt. Onthis point, it's interesting to note that the FederalReserveact and the sixteenth amendment, which gave congress the power tocollect income taxes, were both passed in 1913. The incredible power of theFedover the economy is universally admitted. Somepeople, especially in thebanking and academic communities, even support it. Onthe other hand, thereare those, both in the past and in the present, that speak out against it. Oneof these menwas President John F. Kennedy. His efforts were detailed in JimMarrs' 1990 book, Crossfire:.

Another overlooked aspect of Kennedy's attempt to reformAmericansociety involves money. Kennedy apparently reasoned that byreturning to the constitution, which states that only Congressshallcoin and regulate money, the soaring national debt could be reducedby not paying interest to the bankers of the Federal ReserveSystem,who print paper money then loan it to the government at interest. Hemoved in this area on June 4, 1963, by signing Executive Order11,110which called for the issuance of $4,292,893,815 in UnitedStates Notes through the U.S.Treasury rather than the traditionalFederal ReserveSystem. That same day, Kennedy signed a billchanging 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 beenatoddswith the powerful Federal ReserveBoard for some time,encouraging broader investment and lending powers for banks thatwere not part of the Federal Reservesystem. Saxon also haddecided that non-Reservebanks could underwrite state and localgeneral obligation bonds,again weakening the dominant FederalReservebanks.

A number of "Kennedy bills" were indeed issued - the author has a five dollarbill in his possession with the heading "United States Note" - but werequickly withdrawn after Kennedy's death. According to information from theLibrary of the Comptroller of the Currency, Executive Order 11,110 remains ineffect today, although successive administrations beginning with that ofPresident LyndcinJohnson apparently have simply ignored it and insteadreturned to the practice of paying interest on Federal Reservenotes. Today

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we continue to use Federal Reserve Notes, and the deficit is at an all-timehigh.

The point being made is that the IRS taxes you pay aren"tused forgovernment services. It won"thurt you, or the nation, to legally reduce oreliminate your tax liability.

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kennedy executive order

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