Was J.F. Kennedy killed for trying to abolish the Federal Reserve?
- NGC6205Lv 77 years agoFavorite Answer
No, because the assumption that he was attempting to "do away" with the Federal Reserve is a MYTH and not even a very good one.
The basis for the myth is Kennedy's executive order 11110. You can read it at http://www.presidency.ucsb.edu/ws/index.php?pid=59... All it does is delegate the President's authority to issue silver certificates under the Agriculture Adjustment Act of 1933 to the Secretary of the Treasury.
Here is some background on the power to issue silver certificates. The Agriculture Adjustment Act (AAA) of 1933 (48 Stat 51) gave the Office of the President the power to authorize the issue of silver certificates in denominations of $1, $2, $5 and $10 as long as the Treasury had enough silver and the total issue did not exceed $3 billion. The Silver Purchase Act of 1934 (48 Stat 1178) also gave that power to the Office of the Secretary of the Treasury under similar restrictions. Therefore, the $4 billion claim under some versions of the myth is false since there was a $3 billion limit. In addition, United States Notes and Silver Certificates are two different forms of circulating notes. EO 11110 only referenced silver certificates. It did nothing with United States Notes. Also, outstanding circulation of United States Notes was limited to $450 million, not $4 billion like claimed in your link.
On June 4, 1963, President Kennedy signed a law which repealed the Silver Purchase Act of 1934 (Public Law 88-36, 77 Stat 54). Read it at http://www.gpo.gov/fdsys/pkg/STATUTE-077/pdf/STATU... Go to volume 77, page 54. That same law also authorized the Federal Reserve to begin issuing $1 and $2 denominations of Federal Reserve Notes (See section 3 of Title 1 of the previous link). On the same day after he signed that law, President Kennedy issued EO 11110 delegating his authority to issue silver certificates under the AAA of 1933 to the Secretary of the Treasury. That is all that EO 11110 did.
Here is a question for all those who believe that EO 11110 would have ended the Federal Reserve. If the delegation of the President's authority to issue silver certificates to the Secretary of the Treasury would have ended the Federal Reserve, why didn't the Federal Reserve come to an end in the 29 years prior when the Secretary of the Treasury had the power to issue silver certificates?
Note: The citations to law refer to the U.S. Statutes at Large which can be found in most law libraries and Federal Depository Libraries. The citations are in the form of "(Volume Number) Stat (Page Number)". Therefore a citation of 48 Stat 51 refers to Volume 48, page 51 of the U.S. Statutes at Large. You can find a Federal Depository Library in your state at http://catalog.gpo.gov/fdlpdir/FDLPdir.jsp
As for the Constitution, the power to regulate the money supply is a power given to Congress. Another power given to Congress is to enact all laws necessary to carry out the other powers given to it. Ever since McCulloch v. Maryland in 1819, it has been settled that Congress has the ability to charter a bank and to give that bank the power to issue circulating notes as currency. The Federal Reserve Act was enacted by Congress and that law delegates the power of Congress to regulate the money supply to the Federal Reserve. Nothing about it is unconstitutional.
I invite anyone, including the asker, to look up the references I provided for yourself. Once you read them, you will see that what I have said is the truth.Source(s): The law Reality
- ELv 67 years ago
There are few that know why J.F. Kennedy was killed. Those that know are already dead, near death, or are keeping quiet for fear of death. One of the rumors was that JFK had appointed his brother, Robert F. Kennedy to the position of Attorney General and as Attorney General, Robert F. was cutting down on organized crime and was planning to do more to expose Mafia. Another rumor was that Lyndon B. Johnson wanted him out of the way whereby he could become president.
With FBI and CIA doing very little to help the Warren Commission which provided false info to the public, government cover-ups continue as there were rumors of CIA/Mafia money laundering of drug profits. JFK was also going to amend the National Labor Relations Bonds statutes and various IRS statutes that would prevent foreign flag shipping from being exempt from American income taxes. These amendments would have seriously affected shipping magnates and the assets of such as Aristotle Onassis. Billions of dollars were at stake. JFK was killed three days before he was to make these amendments public.Source(s): Rumors, history, movies, and www.jfkmurdersolved.com
- TexasHoldEmJonesLv 67 years ago
Funny answers here, but "no" is the correct answer. If you want to look in on a real conspiracy, check into CIA killing Salvador Allende.
- Some GravityLv 67 years ago
I think. Executive Order 11116. But, I think it was more so trying to rip the power to print US mint bills out of Fed Bank hands.
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- LanceLv 77 years ago
Wikileaks has recently released government memos that show JFK had stumbled upon a massive conspiracy to make it look like a kid born in Kenya was really born in Hawaii. He had to be silenced.
- Anonymous7 years ago
I think he was trying to free some black people.