reply to post by donwhite
It is your
opinion that this was a "housekeeping" order. The fact remains that over $4billion was slated to be injected into the economy,
without going through the Fed. The day after the asassination, the "United States Notes" were called out of circulation. LBJ went on to make many
reforms regarding silver, and devaluing our coinage.
Another important fact to point out, is the wording printed on paper currency.
In 1913 for example, currency exhibited the phrase,"United States of America, __ Dollars in Gold Coin," and here's the real important part,
"Payable to the Bearer on Demand".
When the Federal Reserve begain issuing "notes" in 1914, the wording changed to, "Secured By United States Certificates Of Indebtedness Or One-Year
Gold Notes, Deposited With The Treasurer Of The United States Of America." Technically, one might argue that such paper currency was not
Constitutional, since it was not
directly redeemable in gold or silver. However, it still bore the phrase, "Will Pay the Bearer on Demand."
So from this, it seems you could redeem this paper money, for a certificate that was redeemable in gold. You can see the double-speak behind the
trickery of the Federal Reserve Bank. But let us just agree that the note was still legal, since it still had value in gold.
In 1934, the phrase on Federal Reserve Notes was changed to, "This Note Is Legal Tender For All Debts Public And Private And Is Redeemable In Lawful
Money At The United States Treasury Or At Any Federal Reserve Bank". Okay, well since gold and silver is the only "lawful money" under the
Constitution, the currency still appears to be legal.
Twenty days before the asassination of President John F. Kennedy, the Federal Reserve Bank began issuing notes bearing the new phrase, "This Note Is
Legal Tender For All Debts Public And Private", which we are all now so familiar with today. The fact is however, that this "legal tender" is NOT
lawful money under the Constitution. It is not redeemable for anything!
I hope this expands your understanding of money.