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Originally posted by RUFFREADY
I have around 200 ounces myself, and keep watching the prices and can't figure out when a good time to sell is Z(I keep saying to myself..a couple more bucks per oz)
Executive Order 11110
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Executive Order 11110 was issued by President John F. Kennedy on June 4, 1963.
This executive order allowed the U.S. Secretary of the Treasury to issue silver certificates against silver bullion based on authority delegated by the President to the Secretary under the Thomas Amendment to the Agricultural Adjustment Act. This order directly contradicted the role of the Federal Reserve, and many suspect that this may be the primary motive behind the unsolved assassination of President Kennedy.
The Order was for the Treasury to issue silver certificates against all silver held by the government which did not already have certificates against it. The Order was needed due to the passage of Public Law 88-36 which repealed the Silver Purchase Act and other related monetary measures. One result was that after the repeals, only the President could issue new silver certificates. The Federal Reserve System could replace the certificates, but only in larger denominations. The thrust of the Order returned the authority to issue new silver certificates (and specify denominations) back to the U.S. Treasury. This allowed for the Federal Reserve System to distribute and exchange currency at lower denominations that met the growing economic need. The authoritative basis for the Order was nullified in 1982 with the passage of Public Law 97-258.
The Order was never directly reversed. However, Section 1(j) of Executive Order 10289, which was added by Section 1(a) of Executive Order 11110, was revoked when Ronald Reagan signed Executive Order 12608 in 1987.
Originally posted by kelbtalfenek
Keep it and stop advertising how much you have. In fact hide it somewhere.