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Topic started on 3-11-2008 @ 06:56 AM by maus80
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I've heard a few times in my life that JFK, through Executive Order 11110, gave the US Treasury the ability to issue currency backed by silver, in an
attempt to undermine the power of the Fed.
Is there any truth to this? I can find very little information on this online, and it seems to be a very unpopular subject. I would have thought it
would be a very popular one, and that this currency would be highly coveted and sell for a good price on Ebay. It isn't sold at all on ebay, and I
can't even find scans of these bills.
Is the whole thing a myth?
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reply posted on 3-11-2008 @ 07:09 AM by mrwupy
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It's true and they're called Silver certificates. They look pretty much like your standard currency except they have the words silver certificate
printed on them. More than one person believes it's one of the many reasons Kennedy was shot.
They mainly reside with collectors now but they're not that expensive. You can probably find them on Ebay.
Thats what I've heard anyway. I'll look into when I get home tonight.
[edit on 3-11-2008 by mrwupy]
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reply posted on 3-11-2008 @ 07:11 AM by nj2day
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doubtful, as silver certificates where still being made in the 50's, and were redeemable for silver (silver dollars specifically) until 64.
Silver Coinage was also minted until 63.
The move from silver started happening when the value of the metal surpassed the supposed value of the money. i.e. a silver dollar was worth more
melted down as a precious metal than it was worth as a dollar on the market...
This is what happens when the main currency is fiat, and not backed by anything, but coins are. Eventually you could redeem your silver certificate
for a silver dollar, that would be worth more than a dollar if you sold it as silver 
Just looking over my silver certificate collection, the bills were still from the Fed... so it wouldn't have undermined them in any way to push for a
silver standard...
thats my 2 cents as a coin/money collector... or a Numistatist...
Numistmatism sounds more like a disease than a hobby doesn't it?
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reply posted on 3-11-2008 @ 07:11 AM by All Seeing Eye
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Kennedy didn't initiate the silver certificate, he only reintroduced it and gave mandates to the amounts that would be created, correct me if I'm
wrong.
Silver Certificates were printed for a time in the United States as a form of paper currency. They were produced in response to silver agitation
by citizens who were angered by the Fourth Coinage Act, which placed the United States on the gold standard. The certificate was matched to the same
amount of value in silver coinage. For example, one fifty dollar Silver Certificate equals fifty silver
dollars. en.wikipedia.org...
The currency was actually worth its value, in silver
The Beginning of an Age The "Coinage Act of 1873" placed the United States on the gold standard, which replaced the bimetallic (silver and
gold) standard that had been created by Alexander Hamilton. Many of the poorer citizens saw this as a "crime," and silver agitation began. The
Bland-Allison Act, as it came to be known, was passed by Congress on February 28, 1878. It did not provide for the "free and unlimited coinage of
silver" demanded by Western miners, but it did require the United States Treasury to purchase between $2 million and $4 million of silver bullion
from mining companies in the West, to be minted into coins that would be legal tender for all debts, like gold. These coins, however, were quite
heavy, so the government applied their gold certificate strategy to the silver. Suppose that there were five silver dollars in the treasury. The
government would print a $5 Silver Certificate against the dollars, providing a somewhat easier medium of exchange. The idea was kept, and Series 1878
was printed in denominations of $10 to $1000. en.wikipedia.org...
I have one somewhere, yes, they are real.
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reply posted on 3-11-2008 @ 07:12 AM by maus80
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mcadams.posc.mu.edu...
Well of course, minutes after I posted this thread, I found this link. it says that this particular executive order actually gave the Fed more power,
and the whole thing is a load of garbage.
Not sure now what to make of any of this.
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reply posted on 3-11-2008 @ 07:13 AM by Phatcat
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reply posted on 3-11-2008 @ 07:19 AM by nj2day
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reply to post by Phatcat
That is a silver certificate. They'd been in production since the 20's.
I have about 30 of them...
I'd say this JFK money thing is a hoax... I've never heard about it until now... but silver had been in currency for quite a while...
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reply posted on 3-11-2008 @ 07:22 AM by maus80
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Sorry if I've wasted your time everyone, I just really hate the current system and would love it if it had been challenged by JFK. Wishful thinking
on the part of theorists, I guess. The Fed has and will continue to reign supreme.
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reply posted on 3-11-2008 @ 07:24 AM by nj2day
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reply to post by maus80
nah, not a waste of time man :p
I can't believe that my coin collecting actually helped me answer a question on here lol
I would have never figured that would happen
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reply posted on 3-11-2008 @ 07:39 AM by BluegrassRevolutionary
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Yes, they are real.
check out ebay item #300270228095
I am pretty sure this is one. It is a $5 certificate from 1963.
and ebay item #390004592750
This one is a $100 dollar certificate from 1966.
edit to add: Being an economics major in college, I will say that if JFK had challenged the Federal Reserve system with a form of money backed by the
US government, IMO they definitely would have done anything in their power to stop him. Given that the Fed is one of the most powerful corporations
in the world...I would say that their power is almost limitless. That being said, I will leave you to make up your own conclusions.
[edit on 3-11-2008 by BluegrassRevolutionary]
[edit on 3-11-2008 by BluegrassRevolutionary]
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reply posted on 3-11-2008 @ 11:24 AM by badmedia
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I thought he had them print up a bunch of dollars, which were different because they had some red ink on them. They were also called back in and
removed from circulation within months after JFK's death.
I'm not sure why someone said it gave the fed more power. What it did was offer competition to the fed. It was interest free money as should be.
I'm not the hugest JFK fan when it comes to his policies, but he tried to many good things. I'd take him over Obama or McCain any day, neither of
whom will touch this subject with a 10 foot pole, even as the economy crashes as a result of it.
The reason the gold standard and metals stuff ended up failing was because of fractional banking. Fractional banking(fiat currency) ended up
devaluing the dollar so much, that it got to the point where only 10% of the dollar was actually redeemable in gold. What that meant was someone
could have 10% of the countries wealth in dollars, then they could redeem them in gold/silver and take 100% of the actual wealth. And as someone
else mentioned, the metals started being worth more than the coin value.
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reply posted on 3-11-2008 @ 12:03 PM by DocMoreau
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en.wikipedia.org...
The End of the Silver Certificates
Certificates circulated, mainly in the $1 denomination, widely throughout the United States in the years following 1934. When the '34s wore out, they
were replaced with a new, more modern-looking Series 1953 (1935 for the $1 silvers; see below), with the same face changes as the Series 1950 Federal
Reserve Notes had experienced. However, the Silver Certificates began to disappear from circulation during the 1940s and 1950s. The amount of Silver
Certificates in circulation depended directly upon the amount of silver bullion in the Treasury vaults. As people redeemed the certificates for
bullion or silver dollars, the notes were shredded, because the notes had lost their backing and could not be recirculated unless there was more
silver being produced. The price of silver was also rising. In 1960, it was nearing $1.29, which meant that silver dollars were worth more than $1.
This meant that people would receive their silver dollars, and melt them down for the bullion, thereby reducing the amount of silver in circulation,
which was already falling.
In March 1964, Secretary of the Treasury C. Douglas Dillon halted redemption of Silver Certificates for Silver Dollars. In the 1970s, large numbers of
the remaining silver dollars in the mint vaults were sold to the collecting public for collector value. Silver Certificates were abolished by Congress
on June 4, 1963 and all redemption in silver ceased on June 24, 1968. Paper currency is still valid legal tender without the Silver Certificate,
instead being backed simply by the perceived strength of the U.S. economy. According to the U.S. treasury, "The notes have no value for themselves,
but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are 'backed' by all the goods and services in the
economy."[1]
I do not know very much about Kennedy's Executive Order, but I do know that they were printing Silver Certificates before his election.
From the wiki about the executive order, it shows that it was signed on the same day that Congress abolished the silver certificates, and was never
directly reversed, and was not revoked untilReagan signed his own executive order.
Purpose
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 executive order 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 substantially 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
Executive Order 11110
It seems that Kennedy's Order, was to continue the Silver Certificates in production, but to remove the smaller denominations.
This definitely is a topic I should look into more...
DocMoreau
oops, forgot the link to the wiki on the Executive Order 11110
[edit on 3/11/2008 by DocMoreau]
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reply posted on 3-11-2008 @ 12:18 PM by Good Wolf
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reply to post by maus80
Jim Marrs said that he had one (or some) on Coast2CoastAM one time.
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reply posted on 20-11-2008 @ 01:25 PM by Anonymous ATS
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reply to post by nj2day
President Kennedy issued Executive Order 11110 to provide debt-free US currency via the US Treasury. These notes have red ink.
The normal method of issuing money is through the privately owned Federal Reserve. The Federal Reserve acts as a middleman and issues money to the US
Treasury, all the while collect interest through the process. Kennedy wanted to get rid of the Federal Reserve and this is most likely the reason why
Kennedy was killed. The last US President to try the same was Lincoln with his Greenbacks.
Bottom Line: these red ink notes have US TREASURY on them, not FEDERAL RESERVE. They are true US dollars, not privately owned, for-profit, secretive,
outsourced Federal Reserve notes!
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reply posted on 20-11-2008 @ 01:32 PM by never_tell
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kennedy bucks=social credit i.e. interest free government loans for the people... same reason Lincoln was assassinated... only days early Ab was
meeting with printers in Montreal Canada... old news...
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reply posted on 20-11-2008 @ 01:35 PM by darkelf
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I have one (a $1) that I received as change years ago. It's dated 1957. Just another trinket that I've managed to hold on to throughout the years.
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reply posted on 20-11-2008 @ 01:46 PM by ZindoDoone
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Wasn't it previous to FDR that our currency said it was redeemable for GOLD where it says silver? I seem to remember seeing a gold certificate at the
Smithsonium right next to that 20 million dollar note they used to use for governments for foreign aid!
Zindo
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reply posted on 21-11-2008 @ 07:09 PM by Good Wolf
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reply to post by ZindoDoone
That's the one. "Redeemable in Gold" but now it says "In God we trust."
Not a surprise really, the bankers make money an object to be worshipped by the common folk.
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