I read on Wikipedia that Kennedy used the executive order power of the President ( http://en.wikipedia.org/wiki/Executive_Order_11110 ) to fight against the FEDs monopoly on printing money-hence the, as the conspiracy theorists say, FED assassinated him. Any comments?
One the more far-out and irrational conspiracy theories that rests on a single extremly flimsey piece of evidence that falls to pieces the minute its put into perspective. The Fed has a lot more to loose by doing so than it has to gain, the executive order doesn't even attack the fed per se and without a strong anti-Fed ideology behind it wouldn't even strongly effect the Fed's power. This conspiracy theory is definatly guilty of constructing the evidence as it sees fit.
Abstract liberty, like other mere abstractions, is not to be found.
- Edmund Burke
Luis Buenaventura: I read on Wikipedia that Kennedy used the executive order power of the President ( http://en.wikipedia.org/wiki/Executive_Order_11110 ) to fight against the FEDs monopoly on printing money-hence the, as the conspiracy theorists say, FED assassinated him. Any comments?
I can't say (and don't want to know) why JFK was shot. But him fightin inflation?! Come on!
One must understand that, at the time, the US was still suposedly on a gold standard, strictly speaking on a gold exchnage standard, which required the redemption of dollars held by foreign central banks with gold. The ideal would have been an entirely fiat currency regime. And as JFK was very eager to spend his way into everything, he realy thought hard about overcoming the last remnants of the gold standard, without paying much in international prestige. Perhaps than, the order was a step aimed to slowly start redeeming dollars for silver, and not gold, since silver was (and still is) way cheaper. I suspect hat once gold redeemabilyty would have been replaced with silver redeembility, going enirely fiat would have been easier. Time proved that just doing away with redeemability righ away was sufficient a decade later.
So, no one would have gained anything from the EO, and the president wasn't acting against the Fed, rather in concert with it.
I heard of this a while ago. I don't think this was his death warrant
Criminals, there ought to be a law.
Criminals there ought to be a whole lot more. Bon Scott.
What is that "single extremly flimsey piece of evidence," laminustacitus?
Read "JFK vs. the Fed." It makes sense to me.
Money explains every war, Saan.
As an aside: how did the currency work before nixon took us off the gold standard? I don't really understand how central banks work with gold standard, or how there is inflation whilst still on gold?
The Anarch is to the Anarchist what the Monarch is to the Monarchist. -Ernst Jünger
G. Edward Griffin has an excellent piece on this...
JFK could've dissolved the Fed via an executive order if he wanted to. This conspiracy theory is almost as baseless as the theory that JWB was a Rothschild Agent.
Anyway, a central bank with a gold standard doesn't work because the central bank prints more certificates than it has gold. Basically, the central holds the gold and regulates the reserve ratio for all commercial banks if I'm not mistaken.
Congress can devalue it at any time as they did several times during WWI, and as FDR later did.
If you have a government, then the only desirable gold standard would be for the government to just collect its revenues in actual gold by weight (but a minimal amount), store it in/disperse it out of a common treasury, and for the States to make embezzlement illegal. Gary North writes about the gold standard under a central bank in "Counterfeit Gold Standards".
It's interesting to note that Jefferson destroyed the last remnants of the FBUS phony silver standard (which was started by Washington) just as Nixon did with the Fed's fake gold standard (which was started by Wilson and kept getting devalued).