Executive order 11110..issuing our own currency?

Discussion in 'Paper Money' started by TomCorona, Aug 1, 2009.

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  1. nickrapak

    nickrapak Member

    Neither. Twinkies are the only food guaranteed to survive a nuclear winter. In fact, a Twinkie-lined bomb shelter is twice as efficient as a lead-lined one, and four times as delicious!
     
    nickrapak, Aug 17, 2009
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  3. RWB

    RWB Member

    Nicely and accurately put, Numbers.
     
    RWB, Aug 17, 2009
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  4. GDJMSP

    GDJMSP Numismatist Moderator

    Uhhh - no. It had been planned to get rid of them for at least 2 years in advance. It had been discussed for several years before that. If I remember correctly, the first talks on switching to fiat currency began BEFORE Kennedy was ever even elected. Getting rid of silver coins and getting rid of silver certificates had absolutely nothing to do with Kennedy's death. It would have happened even if the man had lived.

    We switched to a fiat currency, just like the rest of the world, for one very simple reason - we had to.

    Now there are various economic reasons that are typically used to explain the why of it. But the inescapable fact is that there was no longer enough gold and/or silver in existence to back the currencies of the world.

    And every time one of these discussions comes up, we always hear from the proponents for a return to a currency backed by gold & silver. But why ? It is always said because gold & silver have intrinsic value.

    Well horse puckey. Gold and silver don't have any more intrinsic value than anything else that exist on the planet. For that matter, not one single thing has any value, unless the people on this planet say it does. And that's really all it takes - for us to say it does.

    That's why money has always existed in so many various forms. All that is necessary for anything to be considered money is for the people to be willing to accept it as money. It doesn't have to be backed by a damn thing. That's because the sole purpose of money is to facilitate trade, commerce. So it doesn't matter what form that money is in. It can be gold, silver, paper, sea shells, or large stones with holes in them. As long as people accept that object or substance as money - then it is money.

    Now somebody is going to tell me that is my opinion. Well, I'm sorry, it's not an opinion. It's a fact. Want Proof ? Look at what you have in your wallet.
     
    GDJMSP, Aug 17, 2009
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  5. Resu Eman

    Resu Eman Member

    Nicely and accurately put, GDJMSP.

    I do prefer paper money, but when I looked in my wallet and I first laid eyes on a piece of plastic that worked rather well as money for my lunch today - especially as I had only three ones in my wallet.
     
    Resu Eman, Aug 17, 2009
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  6. TomCorona

    TomCorona New Member

    What can I say? Facts and opinions differ depending on who is representing it the fact or opinion. Follow the money. JFK and the Fed were in love with each other. Right? Got it...and WTC7 fell down by itself in 10 seconds on 911, and the Gulf of Tonkin , & The Manhattan Project, never happened. Got it. JFK was killed by a lone assassin and the Government would never lie. Got it. I'm sure glad there are so many geniuses right here in CT. Who needs Google? Accuracy and facts far, far outweigh opinion in here! Thanks for straightening me out! (God, I feel like such an idiot). Pardon my ignorance.
     
    TomCorona, Aug 17, 2009
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  7. Jamericon

    Jamericon Junior Member

    The OP is a great example of why amendments cannot always be interpreted to stand on their own. I am now in deep study of Federal Reserve notes, and the number of acts which amend the Federal Reserve Act of 1913 is immense. For me to write a research paper without considering all of them is just bad, short-sighted research - much like the OP's original comment.

    For E.O. 11110 to be useful, one needs to know the intention of the act it amended. E.O. 10289 gave the Treasury the power to act in certain capacities without the approval of the President. E.O. 11110 just added another to this list. The reasons are justified and explained very nicely in this link: http://mcadams.posc.mu.edu/weberman/jfk.htm, the same link posted in one of Number's posts above.
     
    Jamericon, Aug 18, 2009
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  8. TomCorona

    TomCorona New Member

    great link...no spin there.
     
    TomCorona, Aug 22, 2009
    #27 + Quote Reply
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