JFK's Executive Order 11110: The Shot of Truth Heard Round The World

Executive Order 11110 gave the US the ability to create its own money backed by silver. ...

On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.

This order remains open and has never been repealed. Click here to read more about this order. Click here to read the original order from the JFK Kennedy Library and Museum archives.