Quote: Originally Posted by eh1eh
Be careful. You will accept what is.
JFK tried to institute a parallel 'silver standard' and actually started issuing government bonds based on this. Do you think 'The Fed' approved?
Look what happened to him.
The USA should dissolve the fed ASAP.
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On June 4, 1963 , Executive Order 1110 was signed by President Kennedy directing the US Treasury to issue a new US currency. This new US currency was to be backed by a precious metal—silver, unlike the credit-backed money issued by the Federal Reserve since 1913.
In 1913, as a result of intense lobbying by business and banking interests, the US government had turned over the power to issue US currency to a group of private bankers—the Federal Reserve Bank. Many believe this transfer was unconstitutional. US presidential candidate and Congressman Ron Paul (ranking member of the House Subcommittee on Domestic Monetary Policy) has stated:
The United States Constitution grants to Congress the authority to coin money and regulate the value of the currency. The Constitution does not give Congress the authority to delegate control over monetary policy to a central bank. Furthermore, the Constitution certainly does not empower the federal government to erode the American standard of living via an inflationary monetary policy.
The power to coin money and regulate the value of the currency is among the most important responsibilities and functions of government. That the US government in 1913 turned over this public function to a group of private bankers is astounding.
As a consequence, almost one hundred later, the US and its citizens are now on the edge of bankruptcy, indebted up to their eyeballs to the very bankers they gave the power to coin their money and regulate their currency, private bankers who are even now being bailed out by America taxpayers with money made available to them by their fellow-bankers at the Federal Reserve.
For almost one hundred years in America , private bankers through the Federal Reserve Bank have had a monopoly on the printing and issuance of US currency. In that time they have inflated the US money supply to such a degree the US dollar has lost 95 % of its purchasing power and again brought the nation to the edge of economic ruin.
In 1963, fifty years after the Fed acquired the right to print, issue and inflate the money supply of the US , President John F. Kennedy quietly transferred that power back to the US Treasury, the only institution which the constitution had granted the power to coin and regulate currency. Rest assured that transference did not go unnoticed by the private bankers and the Fed.
US Presidential candidate Ron Paul has introduced legislation during each Congress to abolish the Fed (H.R. 2755 - 110th Congress, H.R. 2778 - 108th Congress, H.R. 5356 - 107th Congress, H.R. 1148 - 106th Congress). His inability to attract congressional support, however, is in all likelihood his Washington DC life insurance policy. Morto uomini non causano problemi,
it. Dead men don't cause problems].
…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 the people of the United States out of enough money to pay the national debt. These twelve private credit monopolies were deceitfully and disloyally foisted upon this country by the bankers who came here from Europe and repaid us for our hospitality by undermining our American institutions...The people have a valid claim against the Federal Reserve Board and the Federal Reserve banks.
Congressman Louis T. McFadden, Chairman of the House Committee on Banking and Currency from 1920–31