Saturday, July 14, 2012

Yes! Those U.S. Notes were REAL!

An issue of contention between JFK conspiracy deniers and deep politics researchers has been the issuance of U.S. Notes by John F. Kennedy under Executive Order 11,110,  issued on June 4, 1963 - to challenge Federal Reserve control of the money supply. In the wake of his Executive Order, JFK issued no less than $4.2 BILLION of such notes, which in today's dollars would amount to well over $30 billion, not an insignificant sum!

Despite that, the Denier Brigade has sought to reduce or nullify the import, namely that of a ballsy president challenging the most ruthless banking edifice (which has as its charter to protect the speculator class) since the Republic was founded. But don't take my word for it!

James Livingstone has noted in his monograph ('Origins of the Federal Reserve System- Money, Class and Corporate Capitalism, 1890-1913), p. 233, Cornell University Press, 1986:

"...the creation of the Federal Reserve is an epsiode in, or evidence for, the emergence of a modern ruling class.. "

How so? Because all money created - on average $30-40 billion a year- is brokered into the system. That is, made available by escalating debt. This is achieved by the Fed using the money created to purchase government bonds, then making this (debt-burdened via attached interest) product available to private banks, who must charge much higher interest than the bonds to secure what they regard as a 'reasonable return'.

And so, while nascent Americans, in their revolutionary fervor, had thrown off the shackles of one monarchy, within 137 years they came under the boots of another. This one devoted to the business and banking classes, who demanded ever more favored treatment vis-a-vis 'ordinary' citizens. (To reinforce that, see how they were all mostly bailed out in the wake of the recent credit crisis while Joe Citizen still sits there exposed, his butt in the breeze....for all manner of financial calamities and insults.)

In effect, JFK's issuance of U.S. Notes was a shot across the Federal Reserve's bow, as well as the banking class. By releasing all those debt-free notes out of the Treasury he not only undermined the Fed's financial hegemony but challenged their national authority and decision -making powers on money matters. Many observers believe that this alone might well have been enough to put JFK in assorted cross-hairs. (And no other president has issued such Notes since. Once JFK was killed all the U.S. Notes were retired and printing presses stopped putting them out. Those of us who saved them figured one day the deniers would assert they never existed or some such rot.)

A U.S. Note I've kept since the Kennedy era is shown above. (Readers can click on the image to obtain an enlarged view). The $5 Note - a 1963 issue with Treasury Secretary Douglas Dillon's signature,  clearly says "United States Note" right at the top. Contrast that with a fiver pulled from your pocket and "Federal Reserve Note" at the top. Note also the RED seal in the front (as opposed to green) says "United States Note" instead of Federal Reserve Note.  Note also the serial number to the left is in red not green. (The back of the note is the same as the normal $5 note).

Was Kennedy killed because of his challenge to the Fed control over our money supply? We don't know, but my bet is that it was only one alarm bell that got certain interests' attention and put JFK in their sights. Much more threatening would have been his National Security Action Memorandum 263, to pull out of Viet Nam by 1965, and his rapprochement with Fidel Castro - which would not have gone over very well with the Joint Chiefs like Lyman Lemnitzer and Gen. Curtis Lemay who practically begged JFK to take out Fidel and Cuba in October, 1962.

In any case, my point is that these U.S. Notes did exist, and JFK was the first president in the last century to issue such a massive volume of them, giving the banksters jitters that they still can't get over!

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