JFK Vs The Federal Reserve
By John P. Curran
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We can now safely conclude that this Executive Order has never been repealed,
amended, or superceded by any subsequent Executive Order.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
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
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.
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
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
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
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,
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
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
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 ó the government does borrow
every dollar it spends ó 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
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
Last edited by Neno on Tue 02 Apr 2013, 3:08 pm; edited 1 time in total (Reason for editing : fixed link)