Order # 11110
On June 3, 1963, John Fitzgerald Kennedy, the then President of the United States, issued an Executive Order, which as far as I can see, after a lot of research, is still in effect.
Without quoting it, to save time and space, (you can look it up on Google), it basically states that the United States Treasury shall issue silver backed dollars against any silver in the United States Treasury. In other words, silver backed dollars, with no claims on the Federal Reserve, not issued by the Federal Reserve, with nothing borrowed from the Federal Reserve. These would not be "Federal Reserve Notes," but "U.S. Dollars," issued by the United States Treasury, backed by the silver then stored in Treasury vaults, and converted into silver if the holder of these dollars so chose.
I converted one, and still have the little packet of silver grains issued by the Treasury when I sent in a 'silver certificate.' No more, but technically the executive order is still in effect. Think about that. It means that not only would there be no necessity of borrowing dollars created out of nothing from the Federal Reserve, and paying interest to the Federal Reserve for what they created out of thin air, but it would allow the government to buy silver on the open market to back the dollars with, and which might re-open long closed mines in Colorado, South Dakota, Nevada, and other places where silver still lies, un-mined, but in great abundance. If this executive order were brought out and enforced, the dollar's plunge might be halted, and might indeed be the only worthwhile currency in the world, rather than a laughing stock.
There have been three central banks in U.S. History, and all have been corrupt, fostered excess money creation, and have been responsible for economic woes, crashes, and un-earned profits. The latest and longest-lasting, is the Federal Reserve, which isn't 'federal,' and has no 'reserves.' I am sure most of you readers have read "The Creature from Jekyll Island," and if you haven't, you absolutely must. It details the creation of the Federal Reserve in 1913, and the utter secrecy which went with its creation, as well as the bribing and under-handed dealings which went with the votes to make it into law. Wonderful book!JFK had a lot of grand ideas. He wanted to bring the few troops which had already been sent to Vietnam, home. He wanted to get rid of Castro, but was betrayed at the Bay of Pigs. He wanted to disband the CIA, which had only been in existence for a few years, and which had already proven to have no 'intelligence,' and worthless. I am sure he was murdered by the CIA, as the books I have read (dozens) on the subject suggest.
But Kennedy also knew that the Federal Reserve was, and is, privately owned, and is a for profit institution. It is owned by member banks, but also by many foreign entities, which remain anonymous. A private, for profit central bank, which controls the money in circulation, issues it at a cost of 2.3 cents per hundred dollar bill, and then loans the hundred dollars to the U.S. Treasury at interest? Have you ever heard of an outrage such as this? It has been going on since 1913, and has literally bankrupted America.
Article One, Section Eight of our Constitution says that the Congress shall have the power "To coin Money, regulate the Value thereof…" Funny, It says nothing about delegating that power to a private central bank! Just imagine the interest paid daily to the Federal Reserve, for 'money' it has created out of nothing! What did the Federal Reserve do to earn this? Did the Federal Reserve go out and mine gold or silver to back its worthless currency? No. Is its worthless currency backed by anything? No. Why should we pay bankrupting interest to a privately owned bank? Because politicians, under the cover of deception and secrecy, passed it in 1913.
Kennedy knew what was going on at the Fed, Vietnam, Cuba, and the CIA. He attempted to stop it. His Executive Order 11110 would have been the beginning of the end for the Fed, and we might still be a solvent nation without the last 44 years of interest from un-backed currency printing accumulating. The funny thing is that the Executing Order 11110 has not been reversed, voted out, nor cancelled. I've been to Google, looked up a lot of stuff, and it is my opinion that 11110 is still in effect.
Have you heard of a corporation which is tax exempt? I can think of only one, and it is the Federal Reserve. Just for a minute, consider the plight of us Americans, who use dollars to buy our necessities, and the foolish of us who save in them. The dollar's 'strength' is dictated by the number of them in existence, compared to other paper currencies. Since no paper currency is backed by anything, none have any actual value other than government force. Since the 'strength' of the buck is in direct proportion to its number in existence, consider the national debt. It is currently an actual $9 trillion. If all the promised future payments and handouts are considered, (Social Security, Medicare, etc), the national debt is probably $40 TRILLION, an amount impossible to ever pay, let alone even comprehend.
There's a fellow named Dave Ramsey who has a financial show on a lot of stations. One of my clients listens to it, and he's not bad, but he's all wet on gold and silver. He says that for decades he's been hearing about crashes and terrible things happening., and as far as he's concerned, it's all hogwash. (I won't go into his errors on gold and silver, but they are major). Hogwash? Please just tell me how $40 trillion can ever be repaid? Please tell me how the dollar can possibly hold value, when its numbers are being multiplied by a million every minute? Please tell me how a dreadful climax of 95 years of a central bank's charging interest for money they created out of nothing, can be avoided? Please tell me how all the basic laws of economics can be avoided and the dollar still be respected, invested in, and remain the world's reserve currency? How can a thing be re-produced trillions of times, and still have any value other than by law? Tell me how long a population with a bit of sense can remain faithful to a shrinking measurement in the form of the dollar? When will we be in deeper trouble than now? The trouble gets slowly worse each day like the minute hand on a clock. Not noticeable at first glance, but in an hour it goes all the way around.
A billion dollar embassy in Iraq, a trillion dollars for the war so far, Medicare, Social Security, and handouts by the hundreds of millions, and all the dollars merely printing press fodder. You have your head in the sand like an ostrich, Dave! Car titles and real estate deeds have something tangible backing them up. Dollars? Uh uh. Just pieces of paper fluttering in the breeze. When Saddam was captured, he had $175,000 in hundred dollar bills in his hole with him. Two 53 foot long trailers chock full of hundred dollar bills were found when we invaded Iraq. Counterfeit? Who knows? They're all counterfeit, no matter who prints them. Thanks for trying JFK, if you are somewhere and can read this. Protect yourself.
May 3, 2007
Don Stott has been a precious metals dealer since 1977, has written five books, hundreds of columns, and his web site is www.coloradogold.com