I essentially agree with you on several points however, the last point you made is based not on fact but on a mythology that came about in 1989 through the writings of Jim Marrs. The truth is very easy to uncover and it is found in the very document that Marrs used EO11110 and distorted to say something completely different than it actually did.
JFK set the stage for the removal of all silver from circulation, he got the removal of $5 and $10 Silver Certificates in 1961 and then with EO11110, removed $1 and $2 Silver Certificates allowing for the expansion of the Federal Reserve to issue those small denominations as Federal Reserve Notes. Public Law 88-36, signed the same day that EO11110 was issued, repealed the Silver Purchase Act of 1934, also essentially made silver a marketable commodity instead of a monetary metal, demonetizing silver for the first time in our nation's history.
On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand of silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. President Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes.
President Kennedy repeated his calls for Congress to act on several occasions, including his 1963 Economic Report, where he wrote:
I again urge a revision in our silver policy to reflect the status of silver as a metal for which there is an expanding industrial demand. Except for its use in coins, silver serves no useful monetary function.
In 1961, at my direction, sales of silver were suspended by the Secretary of the Treasury. As further steps, I recommend repeal of those Acts that oblige the Treasury to support the price of silver; and repeal of the special 50-percent tax on transfers of interest in silver and authorization for the Federal Reserve System to issue notes in denominations of $1, so as to make possible the gradual withdrawal of silver certificates from circulation and the use of the silver thus released for coinage purposes. I urge the Congress to take prompt action on these recommended changes.
Public Law 88-36
The House of Representatives took up the President's request early in 1963, and passed HR 5389 on April 10, 1963, by a vote of 251 to 122. The Senate passed the bill on May 23, by a vote of 68 to 10.
Text of Executive Order
President Kennedy's Executive Order (E.O.) 11110 modified the pre-existing Executive Order 10289 issued by U.S. President Harry S. Truman in 1951, and stated the following:
"The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President..."
The order then lists tasks (a) through (h) which the Secretary may now do without instruction from the President. None of the powers assigned to the Treasury in E.O. 10289 relate to money or to monetary policy. Kennedy's E.O. 11110 then instructs that:
SECTION 1. Executive Order No. 10289 of September 9, 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 an outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,' and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The 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.
In fact, Silver Certificates, like Gold Certificates were not simply Bank Notes, they were Warehouse Receipts for a certain amount of real Constitutional Money, i.e. silver. United States Notes and then Federal Reserve Notes were not, in fact on United States Notes it clearly states that Bonds have been deposited to cover that Note, the very same thing as a Federal Reserve Note. Silver Certificates and Gold Certificates were, besides silver coins, were the last vestiges of what remained of real money in this country and JFK sought to remove silver just like FDR did gold. In a way JFK set the stage for the confiscation of the People's silver just as FDR did with the Peoples gold.
Below is what amounts to the original version of this Conspiracy Theory:
Jim Marrs. (1989). Crossfire: the Plot that Killed Kennedy, NY: Carroll & Graf Publishers
“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.” (I wonder where on earth he got the idea that JFK was thinking about this, for nowhere, absolutely nowhere in his writings, speeches or letters is this found)
"He moved in this area on June 4, 1963, by signing Executive Order 11110 which called for the issuance of $4,292,893,815 [4.3 Billion] 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.”
Of course, there is no mention of any of that in either EO11110 or the Legislation he signed into law that day. Nowhere in EO11110 does it call for the issuance of $4.3 Billion in United States Notes. It did not give the Treasury any authority that it did not already have since 1862. Nor did the Legislation JFK signed that day authorize the new $1 and $2 Federal Reserve Notes to be backed by gold because the requirement, at that time, was that all Federal Reserve Notes were to be backed by 25% gold. JFK had already gotten approval from Congress to remove $5 and $10 Silver Certificates back in 1961. When he signed EO11110, that effectively set the stage for not only the removal of all United States Notes, replacing them with Federal Reserve Notes, but he also set the stage for the removal of all Silver Certificates and the eventual removal of all silver coins. LBJ continued with these policies with a Coinage Act that reduced the silver in coins from 90% down to 40% and the ultimate removal of all circulating silver.
"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."
Strangely enough, you will find this very except from Marr’s Book describing James J. Saxon in none other than Wikipedia. That’s one reason you can never, ever depend on Wikipedia for accurate information, it allows member to write or edit the information, whether correct or not. Now, I have read the 1961, 1962, 1963 and 1964 Annual Report of the Comptroller of the Currency, nowhere within those documents nor in any of the Letters to any Congressman or indeed to the Board of Governors of the FED do I find any place where James J. Saxon was at odds with the Federal Reserve.
You can find the original Conspiracy Theory in Jim Marrs'. (1989). Crossfire: the Plot that Killed Kennedy, NY: Carroll & Graf Publishers. Of course, strangely, this is not the only Conspiracy Theory that Marrs promotes as the reason that JFK was assassinated. He also states that JFK was assassinated for these reasons too:in Crossfire that those with motives in the murder of Kennedy were "Attorney General Robert Kennedy's attack on organized crime (Mafia motive); President Kennedy's failure to support the Cuban exiles at the Bay of Pigs (Cuban and C.I.A. motive); the 1963 Nuclear Test-Ban Treaty (military-industrial complex, or M.I.C. motive); Kennedy's plan to withdraw from Vietnam before the end of 1965 (Joint Chiefs of Staff and M.I.C. motive); Kennedy's talk about taking away the oil-depletion allowance (Texas oil men motive); Kennedy's monetary policies (international bankers motive); Kennedy's decision to drop Vice President Lyndon B. Johnson from the ticket in 1964 (L.B.J. motive) and Kennedy's active civil rights policy (Texas racist billionaires motive)."
Far from being an enemy of the FED, few people have knowledge of the cozy working-relationship that JFK formed with the FED, almost immediately upon taking office, JFK, himself, convinced the FED to sell short-term Treasuries and use the funding to purchase Long-Term bonds. It was the a tactic that was recently revived by none of than Ben Bernanke...the ole Operation Twist. It involved the auction of $6.9 Billion dollars of short-term debt and buying notes with 5 year maturities.
Indeed, if you look at the policies of JFK, he maintained a very close relationship with the FED and his policies reflect that fact. In fact, JFK essentially ended the tight fiscal policies of Eisenhower, promoting and supporting the FED in loosening monetary policy.
Additionally, few people realize that JFK was an avid supporter of the IMF and the World Bank, thus if completely defies reality to think that he would oppose the FED when his actions prove just the opposite. In his speech to the IMF, he lauded the actions of not only the IMF, but also the central banks of the world for their monetary policies.
As far as the conspiracy theory, even the newspaper articles denote the real reasons behind JFK's policies and eventually EO11110: In effect, the President wants to end silver's status as an important monetary metal and make it a freely traded commodity, like copper and soybeans. Except from the Southeast Missourian-November 28, 1961. The theory that is promoted about EO11110 just does not hold any water whatsoever, add all the other facts to the case and it falls apart completely!
EO11110 did not expand the use of silver, but diminished it's use and expanded the role of the FED to issue Federal Reserve Notes. The EO also didn't expand or issue United States Notes, in fact, it heralded the eventual demise of the United States Notes in favor of Federal Reserve Notes. There was, at that point, no reason to continue them since through EO11110, the FED was finally allowed to print and issue every single currency denomination in this country. Again, JFK was not the hero!
Add to this all the other compelling information (as seen in many posts below) that completely contradicts this conspiracy theory that it bears investigation of anyone who honestly is interested in knowing what is true from what is blatantly false. That is, after all, what anyone should want to know, even if it causes you to abandon what you once thought was true. That has happened to me more times than not, I have abandoned, over the years, various theories and scenarios that been proven false.
At one time, not too many years ago, I believed this conspiracy theory and others, the reason was because I didn't do adequate research to disprove it at the time. When I began to research the subject I was forced, by actual facts, to change my views to reflect the accurate version of history.
"We are not a nation, but a union, a confederacy of equal and sovereign States" John C. Calhoun
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