Whether the Federal Reserve creates debt money, or the
Treasury creates fiat money, both methods are inflationary. However, who gets
to control the creation of money is a definite source of contention with
potentially deadly results.
Could the US get a
$1tn platinum coin?
09 Jan 2012
A petition urging the creation of
platinum coin worth $1tn (£624bn) has attracted nearly 7,000 signatures and the
support of some heavyweight economists such as Nobel prize-winning economist
and New York Times columnist Paul Krugman, and Philip Diehl, the former
director of the United States Mint. Experts say the plan would be lawful and
should allow the government to keep spending if President Barack Obama fails to
convince lawmakers to raise the "debt ceiling" - a cap, set by
Congress, on the US government's borrowing ability. This brinksmanship could
threaten the US's credit rating if the country's debt reaches or breaks through
this ceiling. Walden said he feared the practice would be "very
inflationary".
Crossfire, The Plot That Killed Kennedy by Jim Marrs,
1989, Excerpts
Another overlooked aspect of
Kennedy's attempt to reform American society involves money. Kennedy apparently
reasoned that by returning to the Constitution, which states that only Congress
shall coin and regulate money, the soaring national debt could be reduced by
not paying interest to the bankers of the Federal Reserve system, who print
paper money then loan it to the government at interest.
He moved in this area on June 4,
1963, by signing Executive Order 11,110 which called for the issuance of
$4,292,893,815 in United States notes through the U.S. Treasury rather than the
traditional Federal Reserve System. A number of "Kennedy bills" were
indeed issued but were quickly withdrawn after Kennedy's death.
Considering that the battle over
U.S. monetary control by a monolithic central bank is an issue that dates back
to the founding of the Republic, some assassination researchers believe
Kennedy's little-noted efforts to reform the money supply and curtail the
Federal Reserve System may have cost him much more than just the enmity of the
all-powerful international bankers.
Mayer Amschel
Rothschild, 1743-1812, International Banker
Give me control of a nation’s
currency, and I care not who makes its laws.
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