On June 4, 1963, a virtually unknown Presidential decree, Executive Order
strip the Federal Reserve <http://federal-reserve.net> Bank of its power to
loan money to the United States Federal Government at interest. With the
stroke of a pen, President Kennedy declared that the privately owned Federal
Reserve Bank would soon be out of business. The Christian Law Fellowship
of Congress. We can now safely conclude that this Executive Order has never
been repealed, amended, or superceded by any subsequent Executive Order. In
simple terms, it is still valid.
When President John Fitzgerald Kennedy--the author of Profiles in Courage
--signed this Order, it returned to the federal government, specifically the
Treasury Department, the Constitutional power to create and issue currency
--money--without going through the privately owned Federal Reserve Bank.
President Kennedy's Executive Order 11110 [the full text is displayed
further below] gave the Treasury Department the explicit authority: "to
issue silver certificates against any silver bullion, silver, or standard
silver dollars in the Treasury." This means that for every ounce of silver
in the U.S. Treasury's vault, the government could introduce new money
more than $4 billion in United States Notes were brought into circulation in
$2 and $5 denominations. $10 and $20 United States Notes were never
circulated but were being printed by the Treasury Department when Kennedy
was assassinated. It appears obvious that President Kennedy knew the Federal
Reserve Notes being used as the purported legal currency were contrary to
the Constitution of the United States of America.
"United States Notes" were issued as an interest-free and debt-free currency
backed by silver reserves in the U.S. Treasury. We compared a "Federal
Reserve Note" issued from the private central bank of the United States (the
Federal Reserve Bank a/k/a Federal Reserve System), with a "United States
Note" from the U.S. Treasury issued by President Kennedy's Executive Order.
They almost look alike, except one says "Federal Reserve Note" on the top
while the other says "United States Note". Also, the Federal Reserve Note
has a green seal and serial number while the United States Note has a red seal
President Kennedy was assassinated on November 22, 1963 and
Kennedy knew that if the silver-backed United States Notes were widely
circulated, they would have eliminated the demand for Federal Reserve Notes.
This is a very simple matter of economics. The USN was backed by silver and
the FRN was not backed by anything of intrinsic value. Executive Order 11110
should have prevented the national debt from reaching its current level (virtually
Again, according to our own research, just five months after Kennedy was
assassinated, no more of the Series 1958 "Silver Certificates" were issued
either, and they were subsequently removed from circulation. Perhaps the
assassination of JFK was a warning to all future presidents not to interfere
with the private Federal Reserve's control over the creation of money. It
seems very apparent that President Kennedy challenged the "powers that
faced the two most successful vehicles that have ever been used to drive up
1) war (Viet Nam); and,
2) the creation of money by a privately owned central bank. His efforts to
have all U.S. troops out of Vietnam by 1965 combined with Executive Order
11110 would have destroyed the profits and control of the private Federal
Reserve Bank. [see #3 below to know who also owns the Federal
Executive Order 11110
AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED,
By virtue of the authority vested in me by section 301 of title 3 of the
United States Code, it is ordered as follows:
SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended,
following subparagraph (j): "(j) The authority vested in the President by
paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31
U.S.C. 821 (b)), to issue silver certificates against any silver bullion,
silver, or standard silver dollars in the Treasury not then held for
redemption of any outstanding silver certificates, to prescribe the
denominations of such silver certificates, and to coin standard silver
dollars and subsidiary silver currency for their redemption," and (b) By
revoking subparagraphs (b) and (c) of paragraph 2 thereof.
JOHN F. KENNEDY THE WHITE HOUSE, June 4, 1963
Once again, Executive Order 11110 is still valid. According to Title 3,
United States Code, Section 301 dated January 26, 1998:
Executive Order (EO) 10289 dated Sept. 17, 1951, 16 F.R. 9499, was as
EO 10583, dated December 18, 1954, 19 F.R. 8725;
EO 10882 dated July 18, 1960, 25 F.R. 6869;
EO 11110 dated June 4, 1963, 28 F.R. 5605;
EO 11825 dated December 31, 1974, 40 F.R. 1003;
EO 12608 dated September 9, 1987, 52 F.R. 34617
The 1974 and 1987 amendments, added after Kennedy's 1963 amendment,
The Federal Reserve Bank, a.k.a Federal Reserve System, is a Private
Corporation. Black's Law Dictionary defines the "Federal Reserve System" as:
"Network of twelve central banks to which most national banks belong and to
which state chartered banks may belong. Membership rules require investment
of stock and minimum reserves." Privately-owned banks own the stock of the
FED. This was explained in more detail in the case of Lewis v. United
States, Federal Reporter, 2nd Series, Vol. 680, Pages 1239, 1241 (1982),
where the court said: "Each Federal Reserve Bank is a separate corporation
owned by commercial banks in its region. The stock-holding commercial banks
elect two thirds of each Bank's nine member board of directors".
The Federal Reserve Banks are locally controlled by their member banks.
owned banks actually issue money:
"Federal Reserve Act [circa 1913]. Law which created Federal Reserve banks
Federal Reserve Board (q.v.)".
The privately owned Federal Reserve (FED) banks actually issue (create) the
"money" we use. In 1964, the House Committee on Banking and Currency,
Subcommittee on Domestic Finance, at the second session of the 88th
Congress, put out a study entitled Money Facts which contains a good
description of what the FED is: "The Federal Reserve is a total money-making
machine. It can issue money or checks. And it never has a problem of making
its checks good because it can obtain the $5 and $10 bills necessary to
cover its check simply by asking the Treasury Department's Bureau of
Engraving to print them".
Any one person or any closely-knit group who has a lot of money has a lot of
power. Now imagine a group of people who have the power to create money.
Imagine the power these people would have. This is exactly what the privately
No man did more to expose the power of the FED than Louis T. McFadden,
describing the FED, he remarked in the Congressional Record, House pages
1295 and 1296 on June 10, 1932:
"Mr. Chairman, we have in this country one of the most corrupt institutions
the world has ever known. I refer to the Federal Reserve Board and the
Federal reserve banks. The Federal Reserve Board, a Government Board, has
cheated the Government of the United States and he people of the United
States out of enough money to pay the national debt. The depredations and
the iniquities of the Federal Reserve Board and the Federal reserve banks
acting together have cost this country enough money to pay the national debt
several times over. This evil institution has impoverished and ruined the
people of the United States; has bankrupted itself, and has practically
bankrupted our Government. It has done this through the maladministration
practices of the moneyed vultures who control it".
Some people think the Federal Reserve Banks are United States Government
institutions. They are not Government institutions, departments, or agencies.
Those 12 private credit monopolies were deceitfully placed upon this country
by bankers who came here from Europe and who repaid us for our hospitality
by undermining our American institutions.
The FED basically works like this: The government granted its power to
create money to the FED banks. They create money, then loan it back to
power of the FED over the economy is universally admitted. Some people,
especially in the banking and academic communities, even support it. On the
other hand, there are those, such as President John Fitzgerald Kennedy, that
have spoken out against it. His efforts were spoken about in Jim Marrs' 1990
Another overlooked aspect of Kennedy's attempt to reform American society
involves money. Kennedy apparently reasoned that by returning to the
Constitution, which states that only Congress shall coin and regulate money,
the soaring national debt could be eliminated by not paying interest to the
private bankers of the Federal Reserve System, who print paper money then
$4,292,893,815 in United States Notes through the U.S. Treasury rather
strength to the weakened U.S. currency.
Kennedy's comptroller of the currency, James J. Saxon, had been at odds
investment and lending powers for banks that were not part of the Federal
Reserve System. Saxon also had decided that non-Reserve banks could
underwrite state and local general obligation bonds, again weakening the
dominant Federal Reserve banks".
In a comment made to a Columbia University class on Nov. 12, 1963,
Ten days before his assassination, President John Fitzgerald Kennedy
"The high office of the President has been used to foment a plot to destroy
the American's freedom and before I leave office, I must inform the citizen
of this plight."
In this matter, John Fitzgerald Kennedy appears to be the subject of his own
book... a true Profile of Courage.
This research report was compiled for Lawgiver. Org. by Anthony Wayne
What is the Federal Reserve Bank?
What is the Federal Reserve Bank (FED) and why do we have it?
by Greg Hobbs November 1, 1999
The FED is a central bank. Central banks are supposed to implement a
country's fiscal policies. They monitor commercial banks to ensure that
Central banks also do business, such as currency exchanges and gold
transactions, with other central banks. In theory, a central bank should be
good for a country, and they might be if it wasn't for the fact that they are
Fractional banking or fractional lending is the ability to create money from
nothing, lend it to the government or someone else and charge interest to
boot. The practice evolved before banks existed. Goldsmiths rented out
silver. The goldsmiths gave these "depositors" a certificate that showed the
amount of gold stored. These certificates were then used to conduct business.
In time the goldsmiths noticed that the gold in their vaults was rarely withdrawn.
Since the certificates represented more gold than actually existed, the
certificates were "fractionally" backed by gold. Eventually some of these
vault operations were transformed into banks and the practice of fractional
Keep that fractional banking concept in mind as we examine our first central
bank, the First Bank of the United States (BUS). It was created, after bitter
This bank practiced fractional lending at a 10:1 rate, ten dollars of loans
for each dollar they had on deposit. This misuse and abuse of their public
charter continued for the entire 20 years of their existence. Public outrage
over these abuses was such that the charter was not renewed [Thank you,
One of my all-time favorites is from Sir John Stamp--former
governor of the Rothschild's Bank of England--on central banking
systems: "The modern banking system manufactures money out of
nothing. The process is perhaps the most astonishing piece of slight
of hand ever invented. Banking was conceived in iniquity, and born
in sin. Bankers own the earth. Take it away from them, but leave
them the power to create money, and with the flick of a pen, they
will create enough money to buy it back again. Take this great
power away from them, and all great fortunes like mine will disappear.
And, they ought to disappear, for then this would be a better and
happier world to live in. But if you want to continue to be the slaves
of the bankers, and pay the cost of your own slavery, then let bankers
continue to create money, and control credit."
Finally, the one that sums it all up (circa 1838) from Banker
Amschel Mayer Rothschild (1773-1855): "Permit me to issue and
control the money of a nation, and I care not who makes its laws."]
The war of 1812 left the country in economic chaos, seen by bankers as
another opportunity for easy profits. They influenced Congress to charter
the second central bank, the Second Bank of the United States (SBUS), in
The SBUS was more expansive than the BUS. The SBUS sold franchises and
literally doubled the number of banks in a short period of time. The country
began to boom and move westward, which required money. Using fractional
lending at the 10:1 rate, the central bank and their franchisees created the
debt/money for the expansion.
Things boomed for a while, then the banks decided to shut off the
debt/money, citing the need to control inflation. This action on the part of
the SBUS caused bankruptcies and foreclosures. The banks then took control
of the assets that were used as security against the loans.
Closely examine how the SBUS engineered this cycle of prosperity and
depression. The central bank caused inflation by creating debt/money for
loans and credit and making these funds readily available. The economy
boomed. Then they used the inflation which they created as an excuse to shut
off the loans/credit/money.
The resulting shortage of cash caused the economy to falter or slow
dramatically and large numbers of business and personal bankruptcies
resulted. The central bank then seized the assets used as security for the
loans. The wealth created by the borrowers during the boom was then
transferred to the central bank during the bust. And you always wondered how
the big guys ended up with all the marbles. [Surprise...present housing crash!]
Now, who do you think is responsible for all of the ups and downs in our
economy over the last 85 years? Think about the depression of the late '20s
and all through the '30s. The FED could have pumped lots of debt/money into
the market to stimulate the economy and get the country back on track, but
did they? No; in fact, they restricted the money supply quite severely. We
all know the results that occurred from that action, don't we?
Why would the FED do this? During that period asset values and stocks were
at rock bottom prices. Who do you think was buying everything at 10 cents on
the dollar? I believe that it is referred to as consolidating the wealth.
How many times have they already done this in the last 85 years?
Do you think they will do it again?
Just as an aside at this point, look at today's economy. Markets are
declining. Why? Because the FED has been very liberal with its
debt/credit/money. The market was hyper inflated. Who creates inflation? The
FED. How does the FED deal with inflation? They restrict the
debt/credit/money. What happens when they do that? The market collapses.
Several months back, after certain central banks said they would be selling
large quantities of gold, the price of gold fell to a 25-year low of about
$260 per ounce. The central banks then bought gold. After buying at the
bottom, a group of 15 central banks announced that they would be restricting
the amount of gold released into the market for the next five years. The
price of gold went up $75.00 per ounce in just a few days. How many hundreds
of billions of dollars did the central banks make with those two press
Gold is generally considered [silver is better] to be a hedge against more severe economic conditions. Do you think that the private banking families that own the FED
are buying or selling equities at this time? (Remember: buy low, sell high.)
How much money do you think these FED owners have made since they restricted
the money supply at the top of this last current cycle?
Alan Greenspan has said publicly on several occasions that he thinks the
market is overvalued, or words to that effect. Just a hint that he will
raise interest rates (restrict the money supply), and equity markets have a
negative reaction. Governments and politicians do not rule central banks,
central banks rule governments and politicians. President Andrew Jackson won
the presidency in 1828 with the promise to end the national debt and
eliminate the SBUS. During his second term President Jackson withdrew all
government funds from the bank and on January 8, 1835, paid off the national
debt. He is the only president in history to have this distinction. The
charter of the SBUS expired in 1836.
Without a central bank to manipulate the supply of money, the United States
experienced unprecedented growth for 60 or 70 years, and the resulting
wealth was too much for bankers to endure. They had to get back into the
game. So, in 1910 Senator Nelson Aldrich, then Chairman of the National
Monetary Commission, in collusion with representatives of the European
central banks, devised a plan to pressure and deceive Congress into enacting
legislation that would covertly establish a private central bank.
This bank would assume control over the American economy by controlling the
issuance of its money. After a huge public relations campaign, engineered by
the foreign central banks, the Federal Reserve Act of 1913 was slipped
through Congress during the Christmas recess, with many members of the
Congress absent. President Woodrow Wilson, pressured by his political and
financial backers, signed it on December 23, 1913.
The act created the Federal Reserve System, a name carefully selected and
designed to deceive. "Federal" would lead one to believe that this is a
government organization. "Reserve" would lead one to believe that the
currency is being backed by gold and silver. "System" was used in lieu of
the word "bank" so that one would not conclude that a new central bank had
In reality, the act created a private, for profit, central banking
corporation owned by a cartel of private banks. Who owns the FED? The
Rothschilds of London and Berlin; Lazard Brothers of Paris; Israel Moses
Seif of Italy; Kuhn, Loeb and Warburg of Germany; and the Lehman Brothers,
Goldman, Sachs and the Rockefeller families of New York.
Did you know that the FED is the only for-profit corporation in America that
is exempt from both federal and state taxes? The FED takes in about one
trillion dollars per year tax free! The banking families listed above get
all that money.
Almost everyone thinks that the money they pay in taxes goes to the US
Treasury to pay for the expenses of the government. Do you want to know
where your tax dollars really go? If you look at the back of any check made
payable to the IRS you will see that it has been endorsed as "Pay Any F.R.B.
Branch or Gen. Depository for Credit U.S. Treas. This is in Payment of U.S.
Oblig." Yes, that's right, every dime you pay in income taxes is given to
those Zionist private banking families, commonly known as the FED, tax free.
Like many of you, I had some difficulty with the concept of creating money
from nothing. You may have heard the term "monetizing the debt," which is
kind of the same thing. As an example, if the US Government wants to borrow
$1 million--the government does borrow every dollar it spends--they go to
the FED to borrow the money. The FED calls the Treasury and says print
10,000 Federal Reserve Notes (FRN) in units of one hundred dollars.
The Treasury charges the FED 2.3 cents for each note, for a total of $230
for the 10,000 FRNs. The FED then lends the $1 million to the government at
face value plus interest. To add insult to injury, the government has to
create a bond for $1 million as security for the loan. And the rich get
richer. The above was just an example, because in reality the FED does not
even print the money; it's just a computer entry in their accounting system.
To put this on a more personal level, let's use another example.
Today's banks are members of the Federal Reserve Banking System. This
membership makes it legal for them to create money from nothing and lend it
to you. Today's banks, like the goldsmiths of old, realize that only a small
fraction of the money deposited in their banks is ever actually withdrawn in
the form of cash. Only about 4 percent of all the money that exists is in
the form of currency. The rest of it is simply a computer entry.
Let's say you're approved to borrow $10,000 to do some home improvements.
Do you know that the bank didn't actually take $10,000 from its pile of cash
and put it into your pile? They simply went to their computer and input an
entry of $10,000 into your account. They created, from thin air, a debt
which you have to secure with an asset and repay with interest. The bank is
allowed to create and lend as much debt as they want as long as they do not
exceed the 10:1 ratio imposed by the FED.
It sort of puts a new slant on how you view your friendly bank, doesn't it?
How about those loan committees that scrutinize you with a microscope before
approving the loan they created from thin air. What a hoot! They make it
complex for a reason. They don't want you to understand what they are doing.
People fear what they do not understand. You are easier to delude and
control when you are ignorant and afraid.
Now to put the frosting on this cake. When was the income tax created? If
you guessed 1913, the same year that the FED was created, you get a gold
star. Coincidence? What are the odds? If you are going to use the FED to
create debt, who is going to repay that debt? The income tax was created to
complete the illusion that real money had been lent and therefore real money
had to be repaid. And you thought Houdini was good!!!
So, what can be done? My father taught me that you should always stand up
for what is right, even if you have to stand up alone.
If "We the People" don't take some action now, there may come a time when
"We the People" are no more. You should write a letter or send an email to
each of your elected representatives. Many of our elected representatives do
not understand the FED. Once informed they will not be able to plead
ignorance and remain silent.
Article 1, Section 8 of the US Constitution specifically says that Congress
is the only body that can "coin money and regulate the value thereof." The
US Constitution has never been amended to allow anyone other than Congress
to coin and regulate currency.
Ask your representative, in light of that information, how it is possible
for the Federal Reserve Act of 1913, and the Federal Reserve Bank that it
created, to be constitutional. Ask them why this private banking cartel is
allowed to reap trillions of dollars in profits without paying taxes. Insist
on an answer.
Thomas Jefferson said, "If the America people ever allow private banks to
control the issuance of their currencies, first by inflation and then by
deflation, the banks and corporations that will grow up around them will
deprive the people of all their prosperity until their children will wake up
homeless on the continent their fathers conquered."
Jefferson saw it coming 150 years ago. The question is, "Can you now see
what is in store for us if we allow the FED to continue controlling our
"The condition upon which God hath given liberty to man is eternal
vigilance; which condition if he breaks, servitude is at once the
consequence of his crime, and the punishment of his guilt."
John P. Curran
Executive Order 11110
The JFK Myth by G. Edward Griffin
John-F-Kennedy.net Message Board