JFK vs The FED

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At 07:31 AM 9/29/06, you wrote:

 

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repealed, amended, or superceded by any subsequent Executive Order.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.

 

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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.

 

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