Elaine Shtein
@ShteinMichael
Are you paying attention?
Trump is taking us back to Honest Money.
Quote
The Rubber Duck ™
@TheRubberDuck79
JFK's EO 11110
On June 4, 1963, President, John Fitzgerald Kennedy signed a Presidential decree, Executive Order 11110, which stripped the Federal Reserve Banking System of its power to loan money to the United States Federal Government at interest.
This decree meant that for for every ounce of silver in the U.S. Treasury's vault, the U.S. government could introduce new money into circulation based on the silver bullion physically held therein.
As a result, more than $4 trillion 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.
Kennedy knew that if the silver backed United States Notes were widely circulated, they would have eliminated the demand for Federal Reserve Notes.
By giving the U.S. Treasury the Constitutional authority to coin U.S. money once again, EO 11110 would thus prevent the national debt from rising due to "usury" that the American people are charged for "borrowing" (i.e., using) FRN's.
Kennedy knew that, if Congress coined and regulated money, as the Constitution states, the national debt would be reduced by not paying interest to the 12 credit monopolies. This in itself would have allowed the American people freedom to freely use all the money they have earned, enabling the economy to grow.
Now, Executive Order 11110 is still in effect, even though no U.S. President has had the courage to follow it. As Americans, it is our duty to question the Federal Reserve System and the power that we have given it by electing presidents that lack the courage of John Fitzgerald Kennedy.
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