June 4th Anniversary is this Thursday. Executive order 11110

In honor of JFK and his Executive Order 11110.
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http://en.wikipedia.org/wiki/Executive_Order_11110

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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 interest free, 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.


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 certificats 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 The Executive Order was never repealed by any U.S. Virtually all of the nearly $6 trillion in debt has been created since 1963, and if a U.S. president had utilized Executive Order 11110 the debt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.