Silver Certificates and Counterfeit Mobs

This post was meant to be about Silver Certificates, and if indeed their alleged increased issuance as a result of Executive Order 11110 (or otherwise) could have raised the possibility of abandoning or at least reducing the issuance of FedResNotes in favor of debt-free, silver-backed currency. If so, how would the process have taken place, how exactly WOULD the country have functioned on any supposed pure silver standard? What, exactly, happened to the price of silver in the months preceding and following the order, through 1968 when redemption of the Certificates was finally halted?

Then I stumbled across this (forcefully written, but nevertheless compelling) ‘refutation’ by J. Bradley Jansen of the EO_11110 ‘theory’ according to which for the crime of  ‘attempt to reduce the influence and circulation of fiat currency issued by the FedResBanks’, JohnF was sentenced (presumably by interests controlling the FedResSystem) to death by firing squad. Based strictly on his comments at the end of this article and his resume, J. Bradley Jansen did not strike me as a Fed supporter, though some of the materials he cites certainly could be seen as such.

That such a sentence was carried out on the (convenient for whomever) date of 11/22/63 is historical record, the question is only the offense he may have perpetrated, and the composition of the jury and executioners. More on that later. But as for silver, it would appear that demonetization of silver was already a done deal – indeed, the EO in question was just a part of the mechanism for dismantling silver as a monetary metal. It was merely an add-on to Public Law 88-36,  which JohnF had  signed earlier. The EO is supposedly merely an ‘orderly retreat’,  by restoring (i.e. giving back previously existing) control over issuing silver certificates to the SecTreas that had been stripped due to the new law. The Act went into effect in June, 1963, and ordered the repeal of the Silver Purchase Act of 1934, among others. The law also authorized the (then-new) issuance of $1 and $2 FRNs.

“The Silver Purchase Act of 1934 (31 U.S.C. 311a, 316a, 48 Stat. 1178. 316b, 405a, 448-448e, 734a, and 734b), section 4 of the Act of July 6, 1939 (31 U.S.C. 316c), and the Act of July 31,1946 (31 U.S.C. 316d) are hereby repealed. […]

SEC. 3. The first sentence of the ninth paragraph of section 16 of 40 Stat. 970. the Federal Reserve Act (12 U.S.C. 418) is amended by inserting "$1, $2," immediately after "notes of the denominations of".

TITLE II—REPEAL OF TAX ON TRANSFERS OF SILVER BULLION

SEC. 201. (a) Subchapter F of chapter 39 of the Internal Revenue

Code of 1954 (relating to silver bullion) is hereby repealed.”

[EDIT:] The main reason I am willing to lean towards skepticism about this issue is the summation from G. Edward Griffin, in a piece linked in the Jensen article above:

"Let's put this issue into perspective. The proponents of the JFK Myth assert that Kennedy was assassinated because he was about to issue Silver Certificates, thereby denying the bankers their customary interest payments on the nation's currency. However, the reality was just the opposite. Previously, the President could have issued Silver Certificates on his own authority; but, with the signing of EO 11110, he delegated that authority to the Secretary of the Treasury. At that time, the Secretary of the Treasury was Douglas Dillon from a well-known and powerful banking family. That means Kennedy surrendered the power to issue Silver Certificates and gave it to a member of the banking fraternity who could do with it as he pleased "without the approval, ratification, or other action of the President." Dillon, of course, would have strong motive to preserve the dominance of Federal Reserve Notes. The theory that Kennedy was getting ready to issue Silver Certificates is without evidence or logic. "

The only fly in the ointment is that the source of this analysis (Freedom Force International) seems the only place where this letter/article is posted, and I have no way to verify that it does, in fact come directly from Griffin.

The original book "Creature From Jekyll Island" contains details on page 569 (BTW, be sure to get a copy of this book, either by downloading the linked PDF, or from your favorite bookseller. Video of Griffin's presentation on the book is here.

"In 1981, a rumor was circulated that President Kennedy had been assassinated by agents of the hidden money power because he had signed Executive Order #11110 instructing the Treasury to print more than $4 billion in United States  Notes. That is precisely the kind of money we are discussing: paper bills without gold or silver backing issued by the government, not the Federal Reserve. According to the rumor, the bankers were furious because they would lose interest payments on the money supply. When the Order was tracked down, however, it involved Silver Certificates, not United States Notes. Silver Certificates are backed by silver,' which means they are real money, so the rumor was wrong on that point. But there is no interest paid on Silver Certificates either, so the rumor held up on that point. There was a third point, however, which everyone seemed to overlook. The Executive Order did not instruct the Treasury to issue Silver Certificates. It merely authorized it to do so. There is no evidence that this was ever done. If the Certificates were printed at all, they never found their way into circulation. In 1987, the order was rescinded by President Reagan."

[END EDIT]

As the official story goes, it was industrial use of silver that drove the value of the silver in coinage higher than face value of the currency. (Of course, it's difficult to explain to people nowadays that thus the 'dollar value of silver' in a dollar was denominated in an FRN unit, not the same ‘dollar’ stamped onto the coins.) Once the process was recognized by the ‘smart-money crowd’ quite possibly/likely market shenanigans also contributed, but the fact remains that the period saw silver’s purchasing power rise nearly threefold in the 18 years between 1950 and 1968.

The growth of the monetary base might have had something to do with this turn of events, too, though -- especially after 1961…

The other side of the tale is presented by the Silver Bear Café, among other places – arguing that the silver issuance authority granted was aimed at restoring silver-backed currency and doing away with Federal Reserve Notes.

All of these questions around the demonetization of silver in the 1960’s deserve further study and closer scrutiny -- regardless of ties to JFK's death. Though professional myth-busters appearing on the anniversary of an assassination are always suspicious to me, and somehow such 'myth-busters' often go out of their way to insist that there is NOTHING parasitic or crony-inducing in the mechanism of FRN issuance by the FedRes. But, I was thwarted in my though experiment of the ‘what-if’ that is so common in history. There does not seem to be a more detailed framework as to how such a currency change might have taken place, or who would have executed it to what parameters. While there may be more information forthcoming to researchers as the 50-year classification terms on some 'secret' documents from 1963 have just now expired -- but of course the big boys have ways of moving material beyond the reach of FOIA requests, physical destruction being of course just one option.

So instead, below is a speech from JohnF from 1961. There is plenty in it that is as timely now as it was then, if not more. It contains as many, if not far more, potential offenses against the then-PTB (who are very likely the same as or very similar to the current PTB). When thinking about men like JohnF, I am reminded of the need for inspiring, thoughtful and honest leadership. The ever-declining quality of the ‘facsimilies’ thereof that are served up to us (as opposed to rising up from among the people), has gotten to be alarming as the decades rolled on.

I am not sure that a single, charismatic orator upon whom all the hopes and aspirations of a nation can be projected is necessarily the best idea – there are more than a handful of very negative examples of such personality cults. Yet examples of ethics, morals, convictions, humanity and courage are needed in every society, and we can no longer look to our ‘leaders’ to display such values.

Despite not REALLY having come into the job merely of his own talents and skill, to me JohnF would be among the examples of executives who truly held the office with an attempt to represent, empower and protect the populace. Enriching himself and circle seemed less a priority. That his family continued to have a higher-than-average incidents of deaths due to causes other than ‘natural’ seems to speak for itself. It's reasonable (if perhaps sentimental) confirmation of the fact that their views and activities were ruffling the wrong sort of feathers. Lone (and lonely) deranged gunmen apparently are quite common in society, just waiting for the opportune moment to wake up one day to coincidentally change history…

While I remain hopeful that all of our societies are capable of generating such leadership – the timing of this gets more remote and less likely by the day. Societies are known for being able to sustain what ultimately prove to be unsustainable development models longer than individual humans can stay alive… Yet worthy leaders can only present themselves to a knowledgeable, active populace. Despite the (seemingly) glacial pace of this process, I would argue that he spread of knowledge in the populace is beginning to speed up. Let's hope it happens fast enough.

Full speech (audio only):

Full text here.

“We cannot, as a free nation, compete with our adversaries in tactics of terror, assassination, false promises, counterfeit mobs and crises.

We cannot, under the scrutiny of a free press and public, tell different stories to different audiences, foreign and domestic, friendly and hostile.

We cannot abandon the slow processes of consulting with our allies to match the swift expediencies of those who merely dictate to their satellites.

We can neither abandon nor control the international organization in which we now cast less than 1 percent of the vote in the General Assembly.

We possess weapons of tremendous power—but they are least effective in combating the weapons most often used by freedom's foes: subversion, infiltration, guerrilla warfare, civil disorder.

We send arms to other peoples—just as we send them the ideals of democracy in which we believe—but we cannot send them the will to use those arms or to abide by those ideals.

And while we believe not only in the force of arms but in the force of right and reason, we have learned that reason does not always appeal to unreasonable men—that it is not always true that "a soft answer turneth away wrath"—and that right does not always make might.

In short, we must face problems which do not lend themselves to easy or quick or permanent solutions. And we must face the fact that the United States is neither omnipotent or omniscient—that we are only 6 percent of the world's population—that we cannot impose our will upon the other 94 percent of mankind—that we cannot right every wrong or reverse each adversity—and that therefore there cannot be an American solution to every world problem.”

Short segment with video:

Postscript

The final passage from a speech the President was to have delivered in Dallas seemed especially fitting considering the sub-heading of the site. It is also, strangely (or aptly) not a rhetorical flourish, but rather an invocation, a prayer -- it is addressed not to the listeners in the audience, but above their heads:

" We in this country, in this generation, are--by destiny rather than choice--the watchmen on the walls of world freedom. We ask, therefore, that we may be worthy of our power and responsibility, that we may exercise our strength with wisdom and restraint, and that we may achieve in our time and for all time the ancient vision of "peace on earth, good will toward men." That must always be our goal, and the righteousness of our cause must always underlie our strength. For as was written long ago: "except the Lord keep the city, the watchman waketh but in vain."

105 Comments

Mantis's picture

My first first

surprise

usk's picture

Thanks for this fresh air. In

Thanks for this fresh air.

In short, we must face problems which do not lend themselves to easy or quick or permanent solutions

That was in the 60s.

Repost from last thread:

From Harvey:

The December OI contract month miraculously rose by 933 contracts to 150,367 when they should be rolling to the next delivery month of February. The open interest for December is still extremely high for this time in the delivery cycle. We thus have 4 more trading days before first day notice which is Wednesday, November 27th.

Question: what will happen in the next 4 trading days for gold? How can they make this number decrease? Shorting gold again? Stealing long contracts holders like the did with MFG? How can they fix this COMEX mess?

ag1969's picture

Nice work JY

There is no doubt in my mind that JFK was killed by the bankers.  As were Lincoln, Garfield and McKinley.

Eight Presidents who opposed a Central Bank

http://www.hardassetsofhouston.com/blog/eight-presidents-who-opposed-a-central-bank-federal-reserve/

ACT NOW TO WIN 50
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silver66's picture

JY another good one

Fourth yessmiley

silver66

Big L's picture

Well done

And 5th I believe. 

I also believe that JFK servers as a reminder to this day of what happens to presidents that don't toe the line.

Finding someone brave enough to risk their lives for their country, and rich enough to be president is a pretty tall order.

It's possible those people don't exist anymore.

DeaconBenjamin's picture

India likely to face gold shortage of 135 tons during H2 FY14

MUMBAI (Scrap Monster): The latest research report published by HDFC Securities- one of the leading financial service providers, has predicted immense gold supply constraints in India during the second half of the current fiscal year. According to the report, gold availability may continue to suffer with no signs of easing of gold import norms in the near future.

According to the report, the 20-30% lower sales witnessed during current festive season was primarily due to a combination of slowdown in discretionary spends and higher gold premiums. The strict restrictions on gold imports had taken gold premiums in the country to record high during the festive season. Further, restriction on import of gold coins has also impacted investment demand. As a result, overall gold demand is likely to be muted on a YoY basis.

The HDFC Securities Institutional Research estimates the gold demand to touch 415 tons during H2 FY14, assuming 20% year-on-year decline from FY13. The report pegs the total gold supply at 280 tons-150 tons from official gold imports, 120 tons from supply of recycled gold and 10 tons from others. This implies a shortage of 135 tons, which will have to be met through unofficial sources.

The report also states that although gold smuggling has picked up significantly post July-13, it is still unclear whether this will be enough to meet the industry's gold requirements in H2 FY14. Even under a scenario of higher than expected gold demand, the supply constraints may be exacerbated with an increased demand for gold.

http://www.scrapmonster.com/news/india-likely-to-face-gold-shortage-of-135-tons-during-h2-fy14-hdfc-sec/1/10413

SilverSurfers's picture

woo hoo

20 handle. :o

As your president, I will legalize coca leaf chewing on mine property.

So, we are entering 2014, wherein Pento called 4% Fed Fund was the trip wire. BHO enters last two years of a two term adm, with approval falling fast, but with a DOVE at the FED accommodating buying votes for 2016.

18,000 gold Dec 2015 contracts? hhmmm .... JPM loaded ...... Look to JPM silver shorts as an indicator, now would seem to be the time to start covering. 

gold slut's picture

Very well done JY896

Another great article!

Not being the type to get too 'into' conspiracy theories, one thing has always bugged me though about the JFK shooting.

As a youngster, I was very keen on history and read an interesting article by a man who was a firearms expert, about the standard-issue rifles of the different armies during WWII.  He used each one and gave a write-up on each.

When he wrote about the standard Italian Army rifle, he said of all the others it was the worst by a country mile.  Poorly designed, unreliable and above all, horribly, horribly inaccurate.  I later found out that this was the same rifle that Oswald was found with.

To achieve what he did, he must have been not only a top flight crack-shot, but also stunningly lucky as well.  If any other rifle had been used, I might be a little more believing, but that one!!  No wonder he was able to get it for just $21:00!

Mantis's picture

but

it was a crazy lone gunman on a grassy knoll. No motive he was just a nutter. I saw it on telly so it must be true. What is a knoll anyway ?

http://www.knoll.com/

Orange's picture

Some Fun

Sometimes it's important just to have a little fun in life.

Relax, don't worry and be happy.

Of course running nude in a farm field will help.

This weather lady knows how to have fun!

enjoy

http://www.telegraph.co.uk/news/worldnews/europe/france/10465935/French-weathergirl-stuns-viewers-with-nude-report.html

arch stanton's picture

JFK

Rest in peace.  You were a good man.  I shall be drinking heavily to you today.

silverwhere's picture

Jim Sinclair - Singapore Precious Metals Exchange (SGPMX)

Jim Sinclair Named Executive Chairman of Singapore Precious Metals Exchange (SGPMX)

Fri, Nov 22, 2013, 9:05AM EST

Independent Advisory Board established to ensure long term growth strategy, protect interests of customers

SINGAPORE--(BUSINESS WIRE)--

http://finance.yahoo.com/news/jim-sinclair-named-executive-chairman-140000793.html

.

flyinkel's picture

From jsmineset.com

Excellent article on how the depositor now becomes the TBTF "insurance provider" retroactively and the intent for the elimination of judiciary proceedings (bankers make the bankruptcy decisions re: depositors) from IMF docs.  Ding, ding, once again, announcing intent for outright theft via bail-in. 

http://danielamerman.com/articles/2013/IMFbailinC.html

silver66's picture

Right out of the historical playbook

Hopefully you have read Fiat Money Inflation In France by Andrew Dickson White

http://news.yahoo.com/venezuelan-president-tries-emergency-powers-071959194.html

History repeats, no excuses

Silver66

prepare accordingly

flyinkel's picture

Silver 66

You see this as right out of the playbook, folks on this website will too.  But majority of US citizens?  They would see the same actions, be it here or there, as their designated "protector" actually protecting them.

TD's picture

For the love of silver and gold

I really like this Lexus commercial, portraying the love of silver to gold...

and here are a couple of great vids on what went into making it all happen...

California Lawyer's picture

As Always, Another Great Post

I always appreciate your insights and perspectives.  As you point out, why has there been total silence about JFK's rebuttal to the banksters' efforts regarding silver certificates?

We know that as soon as public officials deny something, that definitely means it is true.  Another obvious lesson, that we know here, is that total silence in the traditional media about something definitively proves the truth of that which is unmentioned.

So, too, we have heard nothing about the banksters' execution of JFK for his stance opposing them on the silver certificates issue.

As to Big L's points above, it is readily apparent that no one of traditional values seeks the office of the President.  The only personality types that seek the office are narcissistic types, driven not by empathy for the folks, but instead by personal vanity and the need for approval of their acolytes.  We as a country are doomed, and cannot realistically expect a candidate of substance to emerge, ever, and if by some miracle, someone does, well, there will be that limousine ride where a shadowy figure will pull out a picture of JFK's brains splattered all over the place and remind the candidate of what happens to those who don't do what they are told.

Unless and until sound money returns, by some miracle I might add, we are all just on a treadmill until the collapse of the currency and the ushering in of the new era.

silver66's picture

IMF report--flyinkel

I note with humor that one of the authors is named the same as  a great american douche.....Michael Moore

Silver66

NW VIEW's picture

A DAY OF REMEMBERANCE!

I was in high school when JFK lost his life and we were in such a shock that it just made many of us stop moving and try to gasp for air.  His famous speech about "Ask not what your country can do for you but what you can do for your country" was felt by everyone.  It had such a ring of truth and hope within it and stirred up those deep old feelings of why we came to America.

When the millions came through Ellis Island with a great hope, they had left much of the evil behind  and loved to see the light of the statue in the harbor.  JFK rekindled those old hopes within the many but those immigrants failed to turn around and see that boatloads of the evil was also crossing the same seas.  Now we have a majority hearing and seeking  "you are entitled to continually seek what your country can give to you".   jmo

fraxinus's picture

The cavalry are coming!

I expect the British and the Chinese to lead European and Asian action, against the "counterfeit mobs" attacking the credibility of sovereign nations' PM reserves. Godspeed to them in any and all strong measures of self-help they deploy in coming days! And confidence that, when push comes to shove, the financial terrorists have no friends! 

monkry's picture

CME any more muppets out there?

Assholes lowering margins upon the Friday close.

"Come back in, the water's fine (suckers)" is what was heard from the exchange.

tyberious's picture

JY896

Great piece! I truly appreciate the JFK's UW speech, first as an Sovereign American, secondly as a Washingtonian, finally as Seattleite.

ancientmoney's picture

JFK rubbed many powerful people the wrong way . . .

First, he was not supposed to win the 1960 election.  Nixon was the chosen one, and he was figured a shoo-in following his party's previous prez, Eisenhower.

Kennedy was essentially set-up by Allan Dulles, the CIA head, in the Bay of Pigs fiasco, which was organized under Ike's reign.  Someone called off an air-strike at the last minute on Cuba's last 3 fighter planes, which then got off the ground and rained rockets down on the CIA's Cuban insurrection operatives, destroying the action.

Kennedy never trusted the CIA after that.   As senator, he knew that the CIA went into developing countries and fomented war for the Military-Industrial complex to stay enriched.  Vietnam was a big one for that.

Kennedy had plans to pull troops out of Vietnam within a year--that was a very big no-no for the bankers, arms makers, CIA, and the pols who were paid off big-time to keep the scam going.

Kennedy also had laid the palns for Treasury bills backed by silver to be used, essentially running the Federal Reserve banking system out of business.  Another big no-no.

As soon as LBJ was sworn in, all those Kennedy plans were scrapped, and the country went back full-steam to warring and fiat banking with no restraints.  And we've been doing that ever since.

Bollocks's picture

JFK

wasn't killed by bankers. He was killed by a CIA officer who's finger accidentally pulled the trigger of his machine-gun as he swung round to shoot Oswald, whilst travelling in the limo immediately behind JFK's.

It was on the telly earler this week. It has to be true.

You lot don't know anything.

achmachat's picture

for you Bollocks!

a great classic!

Bollocks's picture

achmachat

Exactly. It was on telly so it's true.

And I've never met anyone from wyoming either.

Case closed.

SteveW's picture

The bankers did it!

Don't know if this ever ran stateside. Amazing how a 6 year old clip now represents popular opinion.

transplanted baby's picture

money and politics:

These tie in to this thread and the last.

Check out these two on you tube

Paul Harvey's Freedom to Chains and God Made the Farmer

Then,

Flee to the fields or at least read the book.

AlienEyes's picture

Flip-side

“Dear John” was also a renown whoremonger, the first US president elected (but not the last) because women found him attractive, responsible for cowardly turning his back on everyone involved in the Bay of Pigs debacle, starting US military involvement in Viet Nam and as being the President that was responsible for our closest brush with global nuclear war.
 
Having said that, it was a damn shame that some loon decided to whack John and leave Ted untouched.
SilverRunNW's picture

@AlienEyes

"being the President that was responsible for our closest brush with global nuclear war"

It was Russia that put their nuclear missiles in Cuba.  So was Kennedy just supposed to do nothing?

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