Executive order 11110..issuing our own currency?

Executive order 11110, which was signed and instituted by JFK and can easily be re-instituted right now, at the stroke of a pen. (iactually, it was never taken out of the mix). Our government can institue its' own currency and get rid of the Federal Reserve, a private bank (which is no more federal than federal express). What would happen to gold/silver at that point? Would we all be forced to turn it in to create new coins? Couldn't our monetary system then be based on something intrinsic rather than the smoke and mirrors that it is currently? I think we could re-produce all the old collectables, thus kicking up our hobbie's value instantaneously. What say you?

 

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Gold would have to go waayyyyy up in order to return to the gold standard and even then, the powers that be would have to decide how much the gold is worth. Check out American Institute for Economic Researc (AEIR), they run the numbers every so many years to see if it would be advisable. I think the last discussion was in 04 http://blog.mises.org/archives/001923.asp .

 

Our government can create its own money at anytime . . . and has done so previously. Among these were United States Notes or Legal Tender Notes. Most of you would recognize these as small size red seals. These notes were not backed by metals. Doubtful that any money created by the government in the future would be backed by metals.

 

I say, give me a break already. Our government used to issue its own currency, and that system didn't work so well; that's why the Federal Reserve Banks were created in the first place. When Congress is directly in charge of issuing the currency, they've got political incentives to create too much (to satisfy their constituents by making credit easy to get) or too little (to look good by keeping the budget balanced), and it's not good for the economy to be adrift at the mercy of the political winds of the moment. As we've seen in the past few years, it's tough enough to keep the economy on an even keel even with the Federal Reserve in the mix.

Also, the Federal Reserve is a whole lot more federal than FedEx: For one thing, by law, 100% of the Federal Reserve's profits go into the U.S. Treasury. For another thing, all of the Fed's high officials are appointed by the government. And then, of course, the Fed was directly created by an act of Congress back in 1913, too.... Never mind Federal Express--not even General Motors is that federal! A better analogue would be the U.S. Postal Service, which like the Fed is a government corporation...except that the USPS operates at a substantial loss recently, while the Fed actually provides some revenue to the government.

 

The ZOG is always 10 steps ahead of us. We just don't have a chance against "The House of Rothschild"

 

So....a private bank, basically accountable to noone, is better able to manage the creation and distribution of money better than a body that is elected (manipulated/rigged elections aside for a moment)? Is that what I'm reading here?

 

Where did you find this information? What profits? They should simply be a body creating money supply as needed. Why should there be a profit?

You're way off base here. Everyone always talks about the interest we're paying on the national debt. Why would the U.S. govt, NO, SCRATCH THAT........ TAX PAYERS....., why should/would tax payers have to pay interest on (supposedly) their own money, and then have that interest 'profit' credited back to the U.S. treasury/tax payers? That makes no sense whatsoever and doesn't happen.
The Fed is a private shadow group. That interest disappears. And 'some' officials are appointed by the govt. The nobodys. Most don't have any idea who's behind it all.

That act of congress was shoved through after years of planning and while most congressmen had already went home for Christmas break. It was a shady deal and Woodrow Wilson instantly regretted what they had let happen.

The bankers were trying to gain control of our money supply as far back as Lincoln. He was against them and ended up getting shot. JFK was the next president to openly fight them and had the govt issuing it's own currency for a short while. Then somehow he was shot, and those notes were pulled from circulation immediately after he was gone.

If Ron Paul could have got elected, he probably would have been shot too. The only way to stay safe is to leave them alone. Don't think for a second that this is a great deal or the best way, working in the interest of the American public. Private interests manipulate everything for their own gain.
Sorry if that's unsettling to you but that's the way it is man.

 

Straight from Fed Ex website:


"FedEx Express
In 1965, Yale University undergraduate Frederick W. Smith wrote a term paper about the passenger route systems used by most airfreight shippers, which he viewed as economically inadequate. Smith wrote of the need for shippers to have a system designed specifically for airfreight that could accommodate time-sensitive shipments such as medicines, computer parts and electronics.
In August of 1971 following a stint in the military, Smith bought controlling interest in Arkansas Aviation Sales, located in Little Rock, Ark. While operating his new firm, Smith identified the tremendous difficulty in getting packages and other airfreight delivered within one to two days. This dilemma motivated him to do the necessary research for resolving the inefficient distribution system. Thus, the idea for Federal Express was born: a company that revolutionized global business practices and now defines speed and reliability.
Federal Express was so-named due to the patriotic meaning associated with the word "Federal," which suggested an interest in nationwide economic activity. At that time, Smith hoped to obtain a contract with the Federal Reserve Bank and, although the proposal was denied, he believed the name was a particularly good one for attracting public attention and maintaining name recognition."


This was never meant to look like a government agency and there was no point for it to beside name recognition.


The Fed Reserve would rather have nobody know about them. And pretty much nobody did before the internet. Whatever they are, you can't argue that for an agency of that importance, there is a serious lack of transparency and bitter resistance against cooperating or disclosing information.

Do you think the typical person on the street knows where money comes from? They will most likely say that "they print it." But they wouldn't be able to tell you who they are or why. Why wouldn't such a seemingly important subject be taught in schools? No time? Nobody thought of it? Not important? Or would they even be allowed to?

 

Yeah...what Vess said. Way to articulate it brother!!:whistle:

 

Since this is a forum about collecting paper money, I'll address this bit:

What currency is this referring to? Most of the time, the folks making this argument will mumble something about "silver certificates", and then put in a picture of a 1963-dated red-seal note. Hint: Silver Certificates are blue....

More to the point, there's no currency that was issued "for a short while" during Kennedy's time. Silver Certificates were discontinued right around then (printing ended in 1964, redemption in silver in 1968), but they were hardly new; they'd been circulating since 1878, and were very common long before Kennedy came along, being the dominant form of small-denomination currency for most of the twentieth century.

United States Notes (red seals) were around even longer, issued from 1862 through 1994. The 1963 series date wasn't in use for very long, true, but the notes of that printing were no different legally from the red-seal notes with other dates that were printed before or after them. And neither the beginning nor the end of that short series had anything to do with Kennedy: Series 1963 replaced Series 1953 when the motto "In God We Trust" was added to the note designs by order of Congress, and then Series 1966 replaced Series 1963 when the Treasury decided it'd be more efficient to print USNs denominated $100 instead of $5. The total dollar value of USNs in circulation didn't change a bit between the 19th century and 1994, because it was fixed by act of Congress. (And since the U.S. economy grew quite a lot during that period, the USNs eventually became so scarce compared to other currency types as to be fairly pointless, which is why Congress finally killed them off fifteen years ago.)

 

a few points...

On June 4, 1963, a Presidential decree, Executive Order 11110, was signed by President John Fitzgerald Kennedy with the intention to strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. So with the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business. This matter has been exhaustively researched by the Christian Common Law Institute through the Federal Register and Library of Congress, and the Institute concluded that President Kennedy's Executive Order has never been repealed, amended, or superceded by any subsequent Executive Order. So in simple terms, it is still valid. When JFK signed this Order, it returned to the federal government, specifically to the Treasury Department, the Constitutional power to create and issue currency, MONEY, without going through the privately owned Federal Reserve Bank. That Executive Order 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 therein. As a result, more than $4 billion in United States Notes were brought into circulation in $2 and $5 denominations. Although $10 and $20 United States Notes were never circulated, they were being printed by the Treasury Department when Kennedy was assassinated.
I hope this information helps to clear the muddy water of the previous post..

 

No, you did exactly what I said you were going to do: You started talking about Silver Certificates, and then switched to United States Notes midway through. The two have nothing to do with one another, aside from the fact that both were issued by the Treasury, and had been since the 19th century; Kennedy created neither.

The cap on the amount of U.S. Notes outstanding at any one time was $300-million-odd, so there certainly weren't $4 billion of them. If you want exact figures, the 1963-dated printing consisted of 18,560,000 $2's and 63,360,000 $5's, for a total of $353,920,000 (so in the three or four short years that those notes were being paid out, roughly the entire circulation of USNs turned over!).

No $10 or $20 USNs were printed in the '60s; indeed, this would have been quite pointless, as the cap on the total dollar value of USNs outstanding at one time would've forced any such issues to be negligibly small. The last USNs issued in these denominations were $10's dated 1923 and $20's dated 1880, both of which (in the Treasury's notoriously odd series-dating schemes) were last released in the 1920s. Additional printings of these denominations were contemplated around 1930, and designs were engraved for them, but they never went into production.

EO 11110 didn't give the Treasury Department the power to issue paper money independent of the Federal Reserve; the Treasury had already held and exercised that power for over a hundred years, and continued to hold it and to exercise it until Congress revoked it in 1994. EO 11110 didn't affect the Federal Reserve in any way. And EO 11110 didn't create Silver Certificates, or authorize any increase in the amount of them that was already outstanding before the order was issued. It only made a minor technical change in the way the Silver Certificate issues were to be managed, allowing the Secretary of the Treasury to make decisions without getting approval from the President every time. (This was important, because Silver Certificates were being retired from circulation at the time, so the amount outstanding had to be reduced frequently, and it would've been a pain for the President to have to sign off on this constantly.) See here for more background (though note that that site does confuse the Secretary of the Treasury with the U.S. Treasurer a couple of times). As noted in that link, EO 11110 was repealed by Reagan's EO 12608 in 1987, though that was done simply because it was then irrelevant, as the authority for Silver Certificate issues had been revoked by Congress in 1982.

In summary: What you are saying is obvious nonsense to anyone who is familiar with the history of U.S. currency. If you're looking for people who'll fall for this stuff, go try some forum that isn't full of currency nerds, already!

 

I wasn't trying to get anyone to "fall for" anything. I referenced the information before I posted it, I will research it again thoroughly though before I respond.

 

EO 11110 was an amendment to EO 10289, (following the amendments 10583 and 10882.) Reagan's amendment 12608 in '87 DID NOT rescind any part of Kennedy's EO, and Kennedy's amendment DID give the power to bypass the Fed and the power to print "notes" that would be backed by silver without going through the Fed. It is, in effect, still in place today.
That would have had to have been done Congress, which it was not.
The fact of whether or not currency was issued is debatable, but IMO is existed but was removed from circulation following his death. There are still examples that exist today, however most are gone (certainly there is no "official" record of it). Regardless of the existence or non-existance, that doesn't change the fact that Kennedy had put in place a way to circumvent the Fed, which was his intent, and we all know what happened after.
My basic premise that we were on route to a debtless currency is valid. The points you bring up are "inaccurate".

 

Okay, here's the relevant part of EO 11110:

Notice that the addition which EO 11110 made to EO 10289 is paragraph 1, subparagraph (j).


Now, here's the relevant part of EO 12608:

Notice that it revokes section 1(j). (That bit is about a quarter of the way down in EO 12608...I can easily believe you missed it before, as that entire order is a giant mass of technical amendments, revocations, and corrections to earlier EOs that had become obsolete for various reasons.)

Notice also that this section 1(j) did not create any new authority for Silver Certificates; it merely delegated to the Secretary of the Treasury certain authority regarding Silver Certificates that the President had already possessed (that's what the original EO 10289 is about: powers that the President delegates to the Secretary of the Treasury). The reason why the section had become obsolete by 1987 is that Congress took away that authority from the President in 1982, when the relevant title of the U.S. Code was revised by PL 97-258 (as noted in the link I posted last time).

In other words, if (for some bizarre reason) the Treasury wanted to issue new Silver Certificates today, it'd take a new act of Congress to reauthorize them. Ditto for a new issue of United States Notes. (But a larger obstacle is the fact that neither Congress nor the President would today have any desire to create such notes in the first place....)

As for Kennedy's intentions, see the same link from my previous post. If Kennedy was trying to create "debtless currency" (whatever that means) to reduce the Fed's power, why was he at the same time signing legislation to increase the Fed's power to issue currency? That interpretation of EO 11110 makes no sense. (Besides, United States Notes are also debt instruments; they're just debts owed by the Treasury itself, rather than the Fed. Silver Certificates represent a debt too, but in their case the Treasury promises to pay the debt in silver, rather than just any old way.)

I'm not clear on what currency you're referring to when you say that "There are still examples that exist today, however most are gone (certainly there is no 'official' record of it)." Both the Silver Certificates and the U.S. Notes that were current in Kennedy's day are quite common and are readily available on the collector market--here for example. They're fully documented in the Treasury's records and in any currency-collecting guidebook you care to pick up. I have no idea where you're doing your research, but you really need to make better use of the available sources....

 

alright Sir...you may have some valid points. I'm still diggin' though. The whole issued/not issued deal is foggy. Again though, JFK's intentions were to get rid of the Fed...instead, they got rid of him. I'll be back!:vanish:

 

Ok..I'm very clear on this whole mess now and as simply as it can be put.

What EO11110 was to give the authority of issuing silver certificates and specify denominations (not instructing them to do so however) AGAINST SILVER BULLION back to the Treasury versus the President (as a result of public law 88-36 which repealed the Silver Purchase Act) only having to do authority to do it. The Fed could only REPLACE existent notes in larger denominations but any NEW notes would be the authority of the Treasury instead of the Fed. It was a first step in replacing the Fed. Reagan's 12608 didn't directly rescind EO11110, rather amended EO10289,
rather than directly amending EO11110.
So basically, JFK amended the EO to allow the treasury to issue currency, then Reagan (rather curiously) effectively amended JFK's EO by amending the original EO (dealing with the treasury's right to issue silver backed notes). Why didn't Reagan just rescind EO11110 directly?? Fact is, EO11110 was never specifically rescinded and if the point was to rescind old, irrelevant EO's, then why not include JFK's? Bottom line Kennedy boldly was acting against the privately owned Fed, (EO11110 only a first step) and Reagan got rid of it without even mentioning EO11110, nor did he even follow the rules of enacting an EO. (Google that too.) Isn't it interesting that silver certificates ceased not long after JFK's death?
EO11110 was NEVER specifically rescinded. If you want to say it is via gone EO10289, ok, but then should they have specifically erased 11110 as well since they were "cleaning up" so to speak? JFK would have gotten us out of the 2.3 cents per dollar the bankers charge us to lend us our own money back to us, debt born of debt instead of value, creating and maintaining a debt that could never be paid back by default. Hence the smoke and mirrors of today's money mess.

 

...And the moon landing was a hoax!

 

Yes, yes., and only professional conservationists are worthy..
The best way NOT to address an issue is to ridicule or ignore..no?
Perhaps lumping a single ludricous statement in with all, shall we say,
"non mainstream" ideologies, therefore dismissing them all is yet another.:rolling:

 

I'm confused. So should I be stocking my nuclear bomb shelter with American Silver Eagles, or should I wait for these new Silver Certificates as they would take up less space?

Also, which lasts longer during a nuclear black winter, SPAM or would plain hot dogs be OK.