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John P. Curran: JFK vs. The Federal Reserve

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Richard Moore

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Jan 23, 2008, 10:18:00 AM1/23/08

http://www.john-f-kennedy.net/thefederalreserve.htm

John F. Kennedy vs The Federal Reserve

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never been repealed, amended, or superceded by any subsequent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 he 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.

This research report was compiled for Lawgiver. Org. by Anthony
Wayne

What is the Federal Reserve Bank?

What is the Federal Reserve Bank (FED) and why do we have it?

by Greg Hobbs November 1, 1999

The FED is a central bank. Central banks are supposed to implement
a country's fiscal policies. They monitor commercial banks to ensure
that they maintain sufficient assets, like cash, so as to remain
solvent and stable. Central banks also do business, such as currency
exchanges and gold transactions, with other central banks. In theory,
a central bank should be good for a country, and they might be if
it wasn't for the fact that they are not owned or controlled by the
government of the country they are serving. Private central banks,
including our FED, operate not in the interest of the public good
but for profit.

There have been three central banks in our nation's history. The
first two, while deceptive and fraudulent, pale in comparison to
the scope and size of the fraud being perpetrated by our current
FED. What they all have in common is an insidious practice known
as "fractional banking."

Fractional banking or fractional lending is the ability to create
money from nothing, lend it to the government or someone else and
charge interest to boot. The practice evolved before banks existed.
Goldsmiths rented out space in their vaults to individuals and
merchants for storage of their gold or silver. The goldsmiths gave
these "depositors" a certificate that showed the amount of gold
stored. These certificates were then used to conduct business.

In time the goldsmiths noticed that the gold in their vaults was
rarely withdrawn. Small amounts would move in and out but the large
majority never moved. Sensing a profit opportunity, the goldsmiths
issued double receipts for the gold, in effect creating money
(certificates) from nothing and then lending those certificates
(creating debt) to depositors and charging them interest as well.

Since the certificates represented more gold than actually existed,
the certificates were "fractionally" backed by gold. Eventually
some of these vault operations were transformed into banks and the
practice of fractional banking continued.

Keep that fractional banking concept in mind as we examine our first
central bank, the First Bank of the United States (BUS). It was
created, after bitter dissent in the Congress, in 1791 and chartered
for 20 years. A scam not unlike the current FED, the BUS used its
control of the currency to defraud the public and establish a legal
form of usury.

This bank practiced fractional lending at a 10:1 rate, ten dollars
of loans for each dollar they had on deposit. This misuse and abuse
of their public charter continued for the entire 20 years of their
existence. Public outrage over these abuses was such that the charter
was not renewed and the bank ceased to exist in 1811.

The war of 1812 left the country in economic chaos, seen by bankers
as another opportunity for easy profits. They influenced Congress
to charter the second central bank, the Second Bank of the United
States (SBUS), in 1816.

The SBUS was more expansive than the BUS. The SBUS sold franchises
and literally doubled the number of banks in a short period of time.
The country began to boom and move westward, which required money.
Using fractional lending at the 10:1 rate, the central bank and
their franchisees created the debt/money for the expansion.

Things boomed for a while, then the banks decided to shut off the
debt/money, citing the need to control inflation. This action on
the part of the SBUS caused bankruptcies and foreclosures. The banks
then took control of the assets that were used as security against
the loans.

Closely examine how the SBUS engineered this cycle of prosperity
and depression. The central bank caused inflation by creating
debt/money for loans and credit and making these funds readily
available. The economy boomed. Then they used the inflation which
they created as an excuse to shut off the loans/credit/money.

The resulting shortage of cash caused the economy to falter or slow
dramatically and large numbers of business and personal bankruptcies
resulted. The central bank then seized the assets used as security
for the loans. The wealth created by the borrowers during the boom
was then transferred to the central bank during the bust. And you
always wondered how the big guys ended up with all the marbles.

Now, who do you think is responsible for all of the ups and downs
in our economy over the last 85 years? Think about the depression
of the late '20s and all through the '30s. The FED could have pumped
lots of debt/money into the market to stimulate the economy and get
the country back on track, but did they? No; in fact, they restricted
the money supply quite severely. We all know the results that
occurred from that action, don't we?

Why would the FED do this? During that period asset values and
stocks were at rock bottom prices. Who do you think was buying
everything at 10 cents on the dollar? I believe that it is referred
to as consolidating the wealth. How many times have they already
done this in the last 85 years?

Do you think they will do it again?

Just as an aside at this point, look at today's economy. Markets
are declining. Why? Because the FED has been very liberal with its
debt/credit/money. The market was hyper inflated. Who creates
inflation? The FED. How does the FED deal with inflation? They
restrict the debt/credit/money. What happens when they do that? The
market collapses.

Several months back, after certain central banks said they would
be selling large quantities of gold, the price of gold fell to a
25-year low of about $260 per ounce. The central banks then bought
gold. After buying at the bottom, a group of 15 central banks
announced that they would be restricting the amount of gold released
into the market for the next five years. The price of gold went up
$75.00 per ounce in just a few days. How many hundreds of billions
of dollars did the central banks make with those two press releases?

Gold is generally considered to be a hedge against more severe
economic conditions. Do you think that the private banking families
that own the FED are buying or selling equities at this time?
(Remember: buy low, sell high.) How much money do you think these
FED owners have made since they restricted the money supply at the
top of this last current cycle?

Alan Greenspan has said publicly on several occasions that he thinks
the market is overvalued, or words to that effect. Just a hint that
he will raise interest rates (restrict the money supply), and equity
markets have a negative reaction. Governments and politicians do
not rule central banks, central banks rule governments and politicians.
President Andrew Jackson won the presidency in 1828 with the promise
to end the national debt and eliminate the SBUS. During his second
term President Jackson withdrew all government funds from the bank
and on January 8, 1835, paid off the national debt. He is the only
president in history to have this distinction. The charter of the
SBUS expired in 1836.

Without a central bank to manipulate the supply of money, the United
States experienced unprecedented growth for 60 or 70 years, and the
resulting wealth was too much for bankers to endure. They had to
get back into the game. So, in 1910 Senator Nelson Aldrich, then
Chairman of the National Monetary Commission, in collusion with
representatives of the European central banks, devised a plan to
pressure and deceive Congress into enacting legislation that would
covertly establish a private central bank.

This bank would assume control over the American economy by controlling
the issuance of its money. After a huge public relations campaign,
engineered by the foreign central banks, the Federal Reserve Act
of 1913 was slipped through Congress during the Christmas recess,
with many members of the Congress absent. President Woodrow Wilson,
pressured by his political and financial backers, signed it on
December 23, 1913.

The act created the Federal Reserve System, a name carefully selected
and designed to deceive. "Federal" would lead one to believe that
this is a government organization. "Reserve" would lead one to
believe that the currency is being backed by gold and silver.
"System" was used in lieu of the word "bank" so that one would not
conclude that a new central bank had been created.

In reality, the act created a private, for profit, central banking
corporation owned by a cartel of private banks. Who owns the FED?
The Rothschilds of London and Berlin; Lazard Brothers of Paris;
Israel Moses Seif of Italy; Kuhn, Loeb and Warburg of Germany; and
the Lehman Brothers, Goldman, Sachs and the Rockefeller families
of New York.

Did you know that the FED is the only for-profit corporation in
America that is exempt from both federal and state taxes? The FED
takes in about one trillion dollars per year tax free! The banking
families listed above get all that money.

Almost everyone thinks that the money they pay in taxes goes to the
US Treasury to pay for the expenses of the government. Do you want
to know where your tax dollars really go? If you look at the back
of any check made payable to the IRS you will see that it has been
endorsed as "Pay Any F.R.B. Branch or Gen. Depository for Credit
U.S. Treas. This is in Payment of U.S. Oblig." Yes, that's right,
every dime you pay in income taxes is given to those private banking
families, commonly known as the FED, tax free.

Like many of you, I had some difficulty with the concept of creating
money from nothing. You may have heard the term "monetizing the
debt," which is kind of the same thing. As an example, if the US
Government wants to borrow $1 million s the government does borrow
every dollar it spends s they go to the FED to borrow the money.
The FED calls the Treasury and says print 10,000 Federal Reserve
Notes (FRN) in units of one hundred dollars.

The Treasury charges the FED 2.3 cents for each note, for a total
of $230 for the 10,000 FRNs. The FED then lends the $1 million to
the government at face value plus interest. To add insult to injury,
the government has to create a bond for $1 million as security for
the loan. And the rich get richer. The above was just an example,
because in reality the FED does not even print the money; it's just
a computer entry in their accounting system. To put this on a more
personal level, let's use another example.

Today's banks are members of the Federal Reserve Banking System.
This membership makes it legal for them to create money from nothing
and lend it to you. Today's banks, like the goldsmiths of old,
realize that only a small fraction of the money deposited in their
banks is ever actually withdrawn in the form of cash. Only about 4
percent of all the money that exists is in the form of currency.
The rest of it is simply a computer entry.

Let's say you're approved to borrow $10,000 to do some home
improvements. You know that the bank didn't actually take $10,000
from its pile of cash and put it into your pile? They simply went
to their computer and input an entry of $10,000 into your account.
They created, from thin air, a debt which you have to secure with
an asset and repay with interest. The bank is allowed to create and
lend as much debt as they want as long as they do not exceed the
10:1 ratio imposed by the FED.

It sort of puts a new slant on how you view your friendly bank,
doesn't it? How about those loan committees that scrutinize you
with a microscope before approving the loan they created from thin
air. What a hoot! They make it complex for a reason. They don't
want you to understand what they are doing. People fear what they
do not understand. You are easier to delude and control when you
are ignorant and afraid.

Now to put the frosting on this cake. When was the income tax
created? If you guessed 1913, the same year that the FED was created,
you get a gold star. Coincidence? What are the odds? If you are
going to use the FED to create debt, who is going to repay that
debt? The income tax was created to complete the illusion that real
money had been lent and therefore real money had to be repaid. And
you thought Houdini was good.

So, what can be done? My father taught me that you should always
stand up for what is right, even if you have to stand up alone.

If "We the People" don't take some action now, there may come a
time when "We the People" are no more. You should write a letter
or send an email to each of your elected representatives. Many of
our elected representatives do not understand the FED. Once informed
they will not be able to plead ignorance and remain silent.

Article 1, Section 8 of the US Constitution specifically says that
Congress is the only body that can "coin money and regulate the
value thereof." The US Constitution has never been amended to allow
anyone other than Congress to coin and regulate currency.

Ask your representative, in light of that information, how it is
possible for the Federal Reserve Act of 1913, and the Federal Reserve
Bank that it created, to be constitutional. Ask them why this private
banking cartel is allowed to reap trillions of dollars in profits
without paying taxes. Insist on an answer.

Thomas Jefferson said, "If the America people ever allow private
banks to control the issuance of their currencies, first by inflation
and then by deflation, the banks and corporations that will grow
up around them will deprive the people of all their prosperity until
their children will wake up homeless on the continent their fathers
conquered."

Jefferson saw it coming 150 years ago. The question is, "Can you
now see what is in store for us if we allow the FED to continue
controlling our country?"

"The condition upon which God hath given liberty to man is eternal
vigilance; which condition if he breaks, servitude is at once the
consequence of his crime, and the punishment of his guilt."

John P. Curran Source: http://www.roc-grp.org/jfk.html --

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