JFK DEFENDED USA DOLLAR "The security of the dollar involves the security of us all... We are determined to do whatever must be done in the interest of this country and, indeed, in the interest of all to protect the dollar as a convertible currency at its current fixed rate." JFK Kennedy Executive Order 11110, Hub Pages On June 4, 1963, President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve (US Central Bank). Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. 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. With the stroke of a pen, President Kennedy was on his way to putting the Federal Reserve Bank out of business. If enough of these silver certificates were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. After Mr. Kennedy was assassinated just five months later, no more silver certificates were issued. The Executive Order was never repealed by any U.S. President through an Executive Order and is still valid. Why then has no president utilized it? Virtually all of the nearly $6 trillion in debt has been created since 1963, and if a U.S. president had utilized Executive Order 11110 the debt would be nowhere near the current level. John F. Kennedy, Executive Order 11110. The American Presidency Project "By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows: 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"...JOHN F. KENNEDY, THE WHITE HOUSE, June 4, 1963 (Orwell Today)  
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