Tuesday, December 18, 2007

Long before Ron Paul, JFK tried to give us "hard money."

On
June 4, 1963, a little known attempt was made to strip the Federal
Reserve
Bank of its power to loan money to the government
at interest. On that day 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.
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. In all, Kennedy
brought nearly $4.3 billion in U.S. notes into circulation.
The ramifications of this bill are enormous.
With
the stroke of a pen, Mr. Kennedy was on his way to putting the
Federal Reserve Bank of New York out of business.
This is because the silver certificates are backed by silver
and the Federal Reserve notes are not backed by anything.

blog it
And had he lived, we would not have a 30+ trillion dollar national debt now. I leave "Who shot JFK" for speculation. Why, though, seems pretty damn obvious.

The link will explain how the Federal Reserve creates money out of thin air and then loans it to the Government at interest.

That's one hell of a sweet scam. One you would kill to protect in a hot second if you had a piece of the action.

You see, that thirty + trillion dollars of debt is in part a direct theft by hidden taxation. In other words, if you do a dollar's worth of work and are paid a dollar, but that dollar is invisibly devalued by a dime over the next year, you have been taxed. When you have a currency that is not backed by anything, it's very easy to conceal that tax by manipulating the money supply and interest rates, to complexify the matter beyond the ken of all but those with supercomputer access.

But the fact remains; your savings are not worth as much as they should be, nor can you buy a dollar's worth of goods for your dollar of sweat.

And that is theft. A very complex and sophisticated form of theft, one very dear to the heart of some persuasive thieves, but theft it is.

Remember, all that money (representing economic effort) went to benefit people who had no just reason to profit.

This is always the way when a currency is debased, and it always is debased following the creation of some wonderfully persuasive form of justification for the necessity to replace gold with lead in the coinage.

But it is theft, or at best, taxation by other means, and it its a tax that does not in any way benefit those who are taxed; it goes directly into the hands of bankers in exchange for a fraudulent "service" we do not need.

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