“Kennedy introduced the silverbacked Treasury notes as good interest free currency to drive the suicidal interest accumulating federal reserve notes out of the market”
That’s basically the exact opposite of what Kennedy actually did.
His ideas on silver were spelled out in his January 22, 1962 “Message to the Congress Presenting the President’s First Economic Report”:
“A revision of silver policy. Silver—a sick metal in the 1930’s—is today an important raw material for which industrial demand is expanding steadily. It is uneconomic for the U.S. Government to lock up large quantities of useful silver in the sterile form of currency reserves. Neither is any constructive purpose served by requiring that the Treasury maintain a floor under the price of silver. Silver should eventually be demonetized, except for its use in coins.
(1) As a first step in freeing silver from government control, the Secretary of the Treasury at my direction suspended sales of silver on November 29. This order amounted to the withdrawal of a price ceiling on silver which had been maintained by Treasury sales at a fixed price.
(2) The next step should be the withdrawal of the Treasury’s price floor under domestically produced silver. Accordingly, I recommend repeal of the Acts relating to silver of June 19, 1934, July 6, 1939, and July 31, 1946; this step will free the Treasury from any future obligation to support the price of silver.
(3) I also recommend the repeal of the special 50 percent tax on transfers of interest in silver; this step will foster orderly price movements by encouraging the development of a futures market in silver.
(4) Finally, I recommend that the Federal Reserve System be authorized to issue Federal Reserve notes in denominations of $1; this will make possible the gradual withdrawal from circulation of $1 and $2 silver certificates, and the use of the silver thus released for coinage purposes.
Your reference confuses me.
It looks legit, came up on google in more than a few links,, but when I get to this from your posted text
(4) Finally, I recommend that the Federal Reserve System be authorized to issue Federal Reserve notes in denominations of $1; this will make possible the
The 1 $ bill has been around longer than 1960’s
So this makes me wonder if the links and texts aren’t just fed res fictions and subterfuge.
In addition, the quickness of your post makes me wonder if you are a chatbot.
It’s that or you are a Genius who remembered an obscure proposal from the 60’s.
( was this proposal ever even acted upon ? If not , then it’s not indicative that what Kennedy did was the exact opposite of what I wrote )