Executive Order 11110 was issued by U.S. President John F. Kennedy on June 4, 1963.
This executive order amended Executive Order 10289 (dated September 17, 1951)[1] by delegating to the Secretary of the Treasury the president’s authority to issue silver certificates under the Thomas Amendment of the Agricultural Adjustment Act, as amended by the Gold Reserve Act.
I’m seeing this discussed in the Twitterverse. Significant? I’m not sure
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Significantly misinterpreted as to purpose, I think. That EO is often cited as a reason for JFK’s assassination—ie ending the Fed. I researched this quite a bit, including reading both EO 11110 and the one it amended EO 10284, as well as HR5389.
In fact, as the uses for silver in industrial applications was increasing and the price of silver was rising beyond coinage face value, JFK called for phasing out silver certificates.
EO 11110 merely transferred the ability to issue silver certificates to the Treasury for expediency during the transition to phasing out silver certificates and replacing them with Federal Reserve Notes.
One source excerpt and links below as a start for researching yourself:
“To conserve on the silver needs of the Treasury, President Kennedy requested legislation to bring the issuance of Silver Certificates to an end and to authorize the Fed to issue small denomination notes (which it could not do at that time).
The Fed began issuing small denomination notes almost immediately after the legislation was passed. And in October 1964, the Treasury ceased issuing Silver Certificates altogether.
If anything, E.O. 11110 enhanced Federal Reserve power and did not in any way reduce it. [See “Money and the Federal Reserve System: Myth and Reality,” by G. Thomas Woodward, Specialist in Macroeconomics, Economics Division, Congressional Research Services, Library of Congress, CRS Report for Congress, No. 96-672 E, July 31, 1996.]”
https://freedomforceinternational.org/position-statements/jfk_and_fed/
And another link:
https://en.wikipedia.org/wiki/Executive_Order_11110
Thanks. Very enlightening.