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.


Executive Order No.11110
AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY.

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.

With the stroke of a pen, Mr. Kennedy was on his was to putting the Federal Reserve Bank of New York out of business.

If enough of these silver certificates were to come into circulation they would have eliminated the demand for the Federal Reserve Notes.

Tis is because the silver certificates are backed by silver and the Federal Reserve notes are backed by anything but debt and the citizens ability on pay income taxes for interest payments.



Executive Order No.11110 gave the U.S the ability to create its own money backed by silver.


President Kennedy was assassinated just five months later.

No more silver certificates were issued.


Executive Order No.11110 was never repealed by any U.S. President and is still valid.

No President since has utilized it.