Posted on 11/29/2016 1:43:58 PM PST by VitacoreVision
“The last President who wanted to do away with the Fed (which I agree with 100%) was America’s first Catholic President, John F. Kennedy.”
JFK, like Lincoln, bypassed the bankers and printed greenbacks...
I kind of miss Wach-o-via-ya-money bank.
What I really miss was a regional bank called South Carolina National that Wachovia absorbed in the early 90s.
Who knows what’s true?
There are several websites that have similar versions of this.
That Giant Sucking Sound mentioned by Ross Perot is actually the sound of a draining swamp.
Cato? They are big on open borders—do you know his take on illegal immigration?
Sounds like this could be a really earth shaking pick or advisor to Trump. Go for it! Trump really wants to make America great again.
This will put an EXTRA large bulls eye on his back
Going back to the gold standard is the REAL reason they took out Qaddafi
She’s a winner !
Evidently Trump thinks so.
Where did you read that Kennedy wanted to get rid of the Fed?
Kennedy did not “print greenbacks” any more than the Presidents who had preceded him. That distinction belongs solely to Lincoln. The US Note issue had been carried forward by every administration since Lincoln had them created.
US Notes, aka Greenbacks, were melded into the larger Federal Reserve Note issue when Silver Certificates were done away with and there was no longer any functional difference between minor currency issues.
And since most money was held as ledger entries in savings and checking accounts these distinctions only applied to that very small portion of the money supply held as currency, a fact that eludes those who think there is some ‘magic’ in whether a note was a US Note, a Silver Cert, or a FRN.
” Shortly after Lincoln’s death, the government revoked the Greenback law which ended Lincoln’s debt-free, interest-free money.”
In the real world, Lincoln’s “debt-free, interest-free” US Note greenback issue continued right up through the 1963 Series of American currency. They were issued as $5 bills with red seals and have ‘United States Note’ printed along the top. When first issued Lincoln’s greenbacks were highly inflationary, and brought the gold standard to a halt for a decade.
The rest of that screed is filled with similar ill informed nonsense.
Yes.... BBQ and Brunswick Stew Yuummm
Allison was on Cavuto the other day - I enjoyed him. Here’s the video:
http://video.foxnews.com/v/5228616576001/?#sp=show-clips
When they get rid of that Common Core crap, let’s bring back cursive writing. It doesn’t sit well that my grandson will be part of the first generation of Americans who can only print and cannot write in cursive.
“Kennedy did not “print greenbacks” any more than the Presidents who had preceded him.”
You could not be more wrong. Kennedy’s money may not have been called “greenbacks” but he had it printed outside and unrelated to the Federal Reserve. He had intended to increase the amount.
Google it; it takes about two seconds.
Kennedy had already accused the Fed of treason. Kennedy was killed on a Friday; the next Monday the Fed started withdrawing silver certificates.
“Kennedy had already accused the Fed of treason. “
The theories of conspiracy land are always entertaining.
Kennedy famously had a hard time remembering what was monetary policy and what was fiscal policy so he was hardly consumed with interest in the Fed.
Lincoln’s greenback issue are properly known as US Notes. They continued forward from Lincoln’s administration right up through the 1963 currency series. You can learn this in any catalog dedicated to collecting American currency. But then I suppose that bill collectors, like stamp collectors, are part of the conspiracy and hide the truth.
Silver Certificates were an early casualty of the Triffin Dilemma brought about by the dollar’s role as world reserve currency. Kennedy had to choose between throwing the United States into recession to defend the dollar, or devaluing it which meant scrapping Silver Certs. He chose the latter.
“The theories of conspiracy land are always entertaining”
The idea that Kennedy accused the Fed of treason is not a conspiracy, it is a matter of historical fact. Do you know how to operate google?
Whatever Kennedy called his money, he printed it outside the Federal Reserve, and the Fed did not like it.
And it is not conspiracy that the Fed withdrew silver certificates from circulation immediately after Kennedy was killed.
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