"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."
by: Woodrow Wilson - (1856-1924) 28th US President Date: 1916
Source: Attributed. In reference to signing the Federal Reserve Act in 1913. Probably a compilation of two quotes from his book The New Freedom, 1916. No source found for "I am a most unhappy man. I have unwittingly ruined my country."
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. JFK'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 to this day.
With the stroke of a pen, Mr. Kennedy was on his way 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 Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the government the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver. It also was a major factor in his assassination.
Just five months later, JFK was assassinated and no more silver certificates were issued. Our investigation fails to show any evidence that the Executive Order was ever repealed by any U.S. President and is still valid. Why then has no president utilized it? It may be that Mr. Kucinich's attempt to get this bill through Congress may be unnecessary. Obama may already have the power.
