Debunking Federal Reserve conspiracy theories

[thekingsmen]

Lincoln and Kennedy are the only two presidents who tried to get rid of the Fed...
both publicly assassinated.

I think it was Lincoln who wanted to go to green backs and get rid of the Central Banks. Same with Andrew Jackson and he was almost assassinated.

 

[Orbital-Fetus]

I think it was Lincoln who wanted to go to green backs and get rid of the Central Banks. Same with Andrew Jackson and he was almost assassinated.

Kennedy tried to get rid of the Fed as well.
he also threatened to disband the CIA after he found out that the CIA was planning to invade Cuba without telling him.

 

[Dusty Bake Activate]

Lincoln and Kennedy are the only two presidents who tried to get rid of the Fed...
both publicly assassinated.

Kennedy did not try to get rid of the Fed and the Fed didn't come into existence until about 60 years after Lincoln's presidency.

 

[thekingsmen]

Kennedy did not try to get rid of the Fed and the Fed didn't come into existence until about 60 years after Lincoln's presidency.

Re-issuing the Currency back to the Government is basically making the FED irrelevant and voided out.

 

[Orbital-Fetus]

Re-issuing the Currency back to the Government is basically making the FED irrelevant and voided out.

yup.

there were precursors to the Fed.

 

[thekingsmen]

Kennedy tried to get rid of the Fed as well.
he also threatened to disband the CIA after he found out that the CIA was planning to invade Cuba without telling him.

Ummm I think you have your info confused about the Bay of Pigs.

 

[Dusty Bake Activate]

Re-issuing the Currency back to the Government is basically making the FED irrelevant and voided out.

yup.

there were precursors to the Fed.

Please read post #12 in this thread.

 

[Dusty Bake Activate]

Money and the Fed: Myth and Reality

The notion that Federal Reserve Notes are especially harmful has given rise to one particular conspiracy theory relating to an executive order in 1963. According to author Jim Mars, Executive Order 11110 issued by President Kennedy on June 4, 1963 authorized the issuance of $4,292,893,815 in United States Notes. Mars further asserts that after President Kennedy's assassination, the order was never carried out.

The claim is not borne out by the facts. First, E.O. 11110 had nothing to do with United States Notes, and did not affect any section of law referring to them. Second, E.O. 11110 did not anywhere mention any quantity of money; wherever the $4 billion-plus figure came from, it was not E.O. 11110. Third, The President had no authority to issue such an edict. Even utilizing the provisions of the Agricultural Adjustment Act of 1933, the most the President could issue without statutory authorization was $3 billion.

What E.O. 11110 did was to modify previous Executive Order 10289, delegating to the Secretary of the Treasury various powers of the President. To these delegated powers, E.O. 11110 added the power to alter the supply of Silver Certificates in circulation. Executive Order 11110, therefore, did not create any new authority for the Treasury to issue notes; it only affected who could give the order, the Secretary or the President.

The reason for the move was that the President had just signed legislation repealing the Silver Purchase Act. With this repeal, the Treasury Secretary could no longer control the issue of Silver Certificates on his own authority. However, the issuance of certificates could be controlled under the President's authority. Hence, for administrative convenience, President Kennedy issued Executive Order 11110.

Ironically, the purpose of the order and the legislation was to decrease the circulation of Silver Certificates, with Federal Reserve Notes taking their place. As economic activity grew and prices rose in the 1950s and early 1960s, the need for small-denomination currency grew at the same time that the price of silver increased. The Treasury required silver for the increasing number of Silver Certificates and coins needed for transactions. But the price of silver was rapidly approaching the point that the silver in the coins and in reserve for the certificates was worth more than the face value of the money.

To conserve on the silver needs of the Treasury, President Kennedy requested legislation needed to bring the issuance of Silver Certificates to an end and to authorize the Fed to issue small denomination notes (which it could not at that time). The Fed began issuing small denomination notes almost immediately after the legislation was passed. And in October 1964, the Treasury ceased issuing Silver Certificates altogether. If anything, E.O. 11110 enhanced Federal Reserve power and did not in any way reduce it.

 

[thekingsmen]

I think VVD needs to read the Executive Order and not allow some website with it's own version of the story be the reason he believes what he believes.

 

[VerbalIntercourse]

this is a good thread from vic

 

[Dusty Bake Activate]

I think VVD needs to read the Executive Order and not allow some website with it's own version of the story be the reason he believes what he believes.

I have read it. It's right here. It's pretty clear what it is says. John F. Kennedy: Executive Order 11110 - Amendment of Executive Order No. 10289 as Amended, Relating to the Performance of Certain Functions Affecting the Department of the Treasury

Only conspiratards see it as anything else as an innocuous adjustment to a pre-existing act for monetary convenience in response to declining silver reserves.

What's funny is you don't seem to understand this was part of a process that actually worked to accomplish the opposite of what you conspiracy morons are claiming. Kennedy halted sales of silver in 1961 by repealing the Silver Purchase Act. He said this...

I again urge a revision in our silver policy to reflect the status of silver as a metal for which there is an expanding industrial demand. Except for its use in coins, silver serves no useful monetary function.

In 1961, at my direction, sales of silver were suspended by the Secretary of the Treasury. As further steps, I recommend repeal of those Acts that oblige the Treasury to support the price of silver; and repeal of the special 50-percent tax on transfers of interest in silver and authorization for the Federal Reserve System to issue notes in denominations of $1, so as to make possible the gradual withdrawal of silver certificates from circulation and the use of the silver thus released for coinage purposes. I urge the Congress to take prompt action on these recommended changes.

He stopped the Treasury from being able to issue silver certificates, but allowed the President to still do so, which is what he did with E. O. 11110. The purpose of what he was doing was to decrease the circulation of silver certificates and replace them Federal Reserve notes. he did literally the opposite of what you are claiming.

And Congress voted for it 251-122. Why didn't they all get assassinated? You act like JFK was on some heroic lone ranger shyt. This was irrelevant garden variety bureaucracy.

 

[OsO]

the feds are the good guys

 

[The Real]

the feds are the good guys

No need for black-and-white- no one said that the Fed (not feds) are the good guys. The point is that these conspiracy theories are untrue and won't help you understand what the Fed does, whether it's good or bad.

 

[Dusty Bake Activate]

the feds are the good guys

This isn't about the Fed being good or bad, you idiot. It's about the truth. There's a lot of bullshyt myths and conspiracies surrounding the Fed that should be debunked so we can have a more accurate picture of what we're dealing with, regardless of whether you agree or disagree with their practices. You can be anti-Fed policy and not believe in conspiracy myths.

 

[VerbalIntercourse]

If you're a progressive, I can't see why you wouldn't see the FED as the good guys.

I think most people are just misinformed.