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legacies | political theory

JFK and the FED

Although there were several interests served by the JFK assasination, the role of the Federal Reserve should not be unerestimated.
From:  http://www.whatreallyhappened.com/ARTICLE2/doodoo.html

Many politicians have attempted to reverse this process. John F. Kennedy issued an Executive Order 11110, requiring the Treasury Department to start printing and issuing silver certificates for the silver then remaining in the US Treasury.

Kennedy decided 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. This was the reason he signed 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 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".

Kennedy's E.O. was never implemented following his assassination, and shortly afterwards, United States silver coins were taken out of circulation and replaced with the copper clad slugs in use today. These two events, the failure to print new silver certificates, and the substitution of worthless slugs for our silver coins, may explain why the Warren Commission included on its panel John J. McCloy, a man with no experience in crime, law enforcement, or national security, but who had been the President of the Chase Manhattan Bank.

This is an incorrect interpretation 26.Nov.2007 20:52


Kennedy's Executive Order didn't mandate the issuance of silver certificates, it only delegated the authority to do so to the Secretary of the Treasury. The Secretary had previously had that authority, but this was lost due to the repeal of the Silver Purchase Act.

This was simply a bit of administrative housekeeping which actually facilitated the removal of Silver Certificates from circulation.

A much better analysis than you'll find on paranoid conspiracy theory industry Web sites can be found here: