Executive Order 11110

[JC]

Federal Reserve Board Stripped of Power to Loan Money With Interest --
Executive Order 11110
Group: alt.politics.democrat Date: Fri, Nov 7, 2008, 12:22am (EST-3)
From: curlysu...@live.com (Curly Surmudgeon)
PRESIDENT KENNEDY & EXECUTIVE ORDER 11110 vs. THE FEDERAL RESERVE
President Kennedy, Through Executive Order 11110 Tried to Stop the
Illegal Federal Reserve Bank System's Money Creation Scheme.
  by Anthony Wayne
Lawgiver.org
  On June 4, 1963, a virtually unknown Presidential decree,
Executive Order 11110, was signed with the authority to basically strip
the Federal Reserve Bank of its power to loan money to the United States
Federal Government at interest.
With the stroke of a pen, President Kennedy declared that the privately
owned Federal Reserve Bank would soon be out of business. The Christian
Law Fellowship has exhaustively researched this matter through the
Federal Register and Library of Congress. We can now safely conclude
that this Executive Order has never been repealed, amended, or
superceded by any subsequent Executive Order. In simple terms, it is
still valid.
  When President John Fitzgerald Kennedy - the author of Profiles in
Courage
- signed this Order, it returned to the federal government, specifically
the Treasury Department, the Constitutional power to create and issue
currency - money - without going through the privately owned Federal
Reserve Bank.
President Kennedy's Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority: 'to
issue silver certificates against any silver bullion, silver, or
standard silver dollars in the Treasury'. This means that for every
ounce of silver in the U.S. Treasury's vault, the government could
introduce new money into circulation based on the silver bullion
physically held there.
  As a result, more than $4 billion in United States Notes were
brought into circulation in $2 and $5 denominations. $10 and $20 United
States Notes were never circulated but were being printed by the
Treasury Department when Kennedy was assassinated. It appears obvious
that President Kennedy knew the Federal Reserve Notes being used as the
purported legal currency were contrary to the Constitution of the United
States of America.
  United States Notes' were issued as an interest-free and debt-free
currency backed by silver reserves in the U.S. Treasury. We compared a
'Federal Reserve Note' issued from the private central bank of the
United States (the Federal Reserve Bank a.k.a Federal Reserve System),
with a 'United States Note' from the U.S. Treasury issued by President
Kennedy's Executive Order.
They almost look alike, except one says 'Federal Reserve Note' on the
top while the other says 'United States Note'. Also, the Federal Reserve
Note has a green seal and serial number while the United States Note has
a red seal and serial number.
  President Kennedy was assassinated on November 22, 1963 and the
United States Notes he had issued were immediately taken out of
circulation. Federal Reserve Notes continued to serve as the legal
currency of the nation. According to the United States Secret Service,
99% of all U.S. paper 'currency' circulating in 1999 are Federal Reserve
Notes. Kennedy knew that if the silver-backed United States Notes were
widely circulated, they would have eliminated the demand for Federal
Reserve Notes. This is a very simple matter of economics. The USN was
backed by silver and the FRN was not backed by anything of intrinsic
value.
  Executive Order 11110 should have prevented the national debt from
reaching its current level (virtually all of the nearly $9 trillion in
federal debt has been created since 1963) if LBJ or any subsequent
President were to enforce it. It would have almost immediately given the
U.S.
Government the ability to repay its debt without going to the private
Federal Reserve Banks and being charged interest to create new 'money'.
  Executive Order 11110 gave the U.S.A. the ability to, once again,
create its own money backed by silver and realm value worth something.
Again, according to our own research, just five months after Kennedy was
assassinated, no more of the Series 1958 'Silver Certificates' were
issued either, and they were subsequently removed from circulation.
Perhaps the assassination of JFK was a warning to all future presidents
not to interfere with the private Federal Reserve's control over the
creation of money.
  It seems very apparent that President Kennedy challenged the
'powers that exist behind U.S. and world finance'. With true patriotic
courage, JFK boldly faced the two most successful vehicles that have
ever been used to drive up debt:
1) war (Viet Nam); and,
2) the creation of money by a privately owned central bank. His efforts
to have all U.S. troops out of Vietnam by 1965 combined with Executive
Order 11110 would have destroyed the profits and control of the private
Federal Reserve Bank.
----------------------------------------------
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 - (a) 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 denominations of such silver certificates, and to coin standard
silver dollars and subsidiary silver currency for their redemption,' and
(b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof.
SECTION 2. The amendment 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
----------------------------------------------
Once again, Executive Order 11110 is still valid. According to Title 3,
United States Code, Section 301 dated January 26, 1998: Executive Order
(EO) 10289 dated Sept. 17, 1951, 16 F.R. 9499, was as amended by: EO
10583, dated December 18, 1954, 19 F.R. 8725; EO 10882 dated July 18,
1960, 25 F.R. 6869; EO 11110 dated June 4, 1963, 28 F.R. 5605; EO 11825
dated December 31, 1974, 40 F.R. 1003; EO 12608 dated September 9, 1987,
52 F.R. 34617
The 1974 and 1987 amendments, added after Kennedy's 1963 amendment, did
not change or alter any part of Kennedy's EO 11110. A search of
Clinton's 1998 and 1999 EO's and Presidential Directives has also shown
no reference to any alterations, suspensions, or changes to EO 11110.
The Federal Reserve Bank, a.k.a Federal Reserve System, is a Private
Corporation. 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.' The Federal Reserve Banks
are locally controlled by their member banks. Once again, according to
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 privately owned Federal Reserve
(Fed) banks actually issue     (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'. "
  Any one person or any closely knit group 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 exactly
what the privately owned Fed is!
  No man 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. In describing the Fed, he remarked in the Congressional
Record, House pages 1295 and 1296 on June 10, 1932:
            "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 the people
of the United States out of enough money 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
maladministration 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,
departments, or agencies. They are private credit monopolies which prey
upon the people of the United States for the benefit of themselves and
their foreign customers. Those 12 private credit monopolies were
deceitfully placed upon this country by bankers who came here 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, such as President John Fitzgerald Kennedy, that have spoken out
against it.
  His efforts were spoken about 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. In a comment made to a
Columbia University class on Nov. 12, 1963, ten days before his
assassination, President John Fitzgerald Kennedy allegedly said:
            "The high office of the President
has been used to foment a plot to     destroy the American's freedom
and before I leave office, I must     inform the citizen of this
plight."
  In this matter, John Fitzgerald Kennedy appears to be the subject
of his own book... a true "Profile of Courage"
http://www.fdrs.org/executive_order_11110.html
--
Regards, Curly
----------------------------------------------
            Now it's time for War Crime Trials
at the Hague for Bush/Cheney
----------------------------------------------
............................................
                Posted via TITANnews -
Uncensored Newsgroups Access
at http://www.TitanNews.com <<<<
-=Every Newsgroup - Anonymous, UNCENSORED, BROADBAND Downloads=-