Not until this last year, 2001, did we hear that Roosevelt had frozen all Japanese Assets in U.S. Banks, two weeks before Pearl Harbor !!!
(Thanks to the Freedom of Information Act.)
That is an Act of War.
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Date: Fri, 21 Sep 2001 11:51:50 -0400
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Subject: [money-ethics] Executive Order 11110
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Executive Orders
President Kennedy, the Federal Reserve
and Executive Order 11110
by Cedric X.
From The Final Call, Vol15, No.6, on January 17, 1996 (USA)
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 gevernment
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Order was never repealed by any U.S. President through an Executive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?
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 (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 denomination of such silver
certificates, and to coin standard silver dollars and subsidiary
silver currency for their redemption
and --
By revoking subparagraphs (b) 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 credit as 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." Abraham Lincoln
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 one 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 he
people of the United States out of enoughmoney 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
mal-administration 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. 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 camehere 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 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.
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 11110 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.
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