Message:

<p>[QUOTE=&quot;Numbers, post: 654082, member: 11668&quot;]No, you did exactly what I said you were going to do: You started talking about Silver Certificates, and then switched to United States Notes midway through.&nbsp; The two have nothing to do with one another, aside from the fact that both were issued by the Treasury, and had been since the 19th century; Kennedy created neither.</p><p><br /></p><p>The cap on the amount of U.S. Notes outstanding at any one time was $300-million-odd, so there certainly weren&#039;t $4 billion of them.&nbsp; If you want <a href="http://www.uspapermoney.info/serials/u1963_q.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.uspapermoney.info/serials/u1963_q.html" rel="nofollow">exact figures</a>, the 1963-dated printing consisted of 18,560,000 $2&#039;s and 63,360,000 $5&#039;s, for a total of $353,920,000 (so in the three or four short years that those notes were being paid out, roughly the entire circulation of USNs turned over!).</p><p><br /></p><p>No $10 or $20 USNs were printed in the &#039;60s; indeed, this would have been quite pointless, as the cap on the total dollar value of USNs outstanding at one time would&#039;ve forced any such issues to be negligibly small.&nbsp; The last USNs issued in these denominations were $10&#039;s dated 1923 and $20&#039;s dated 1880, both of which (in the Treasury&#039;s notoriously odd series-dating schemes) were last released in the 1920s.&nbsp; Additional printings of these denominations were contemplated around 1930, and designs were engraved for them, but they never went into production.</p><p><br /></p><p>EO 11110 didn&#039;t give the Treasury Department the power to issue paper money independent of the Federal Reserve; the Treasury had already held and exercised that power for over a hundred years, and continued to hold it and to exercise it until Congress revoked it in 1994.&nbsp; EO 11110 didn&#039;t affect the Federal Reserve in any way.&nbsp; And EO 11110 didn&#039;t create Silver Certificates, or authorize any increase in the amount of them that was already outstanding before the order was issued.&nbsp; It only made a minor technical change in the way the Silver Certificate issues were to be managed, allowing the Secretary of the Treasury to make decisions without getting approval from the President every time.&nbsp; (This was important, because Silver Certificates were being retired from circulation at the time, so the amount outstanding had to be reduced frequently, and it would&#039;ve been a pain for the President to have to sign off on this constantly.)&nbsp; See <a href="http://mcadams.posc.mu.edu/weberman/jfk.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://mcadams.posc.mu.edu/weberman/jfk.htm" rel="nofollow">here</a> for more background (though note that that site does confuse the Secretary of the Treasury with the U.S. Treasurer a couple of times).&nbsp; As noted in that link, EO 11110 was repealed by Reagan&#039;s EO 12608 in 1987, though that was done simply because it was then irrelevant, as the authority for Silver Certificate issues had been revoked by Congress in 1982.</p><p><br /></p><p>In summary: What you are saying is obvious nonsense to anyone who is familiar with the history of U.S. currency.&nbsp; If you&#039;re looking for people who&#039;ll fall for this stuff, go try some forum that isn&#039;t full of currency nerds, already!&nbsp; <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in