Letter to the Editor

Dear Editor,

Some good will come from the current meltdown of the U.S. economy if
it results in the replacement of the Federal Reserve System (privately
owned). The government would then print money as the Constitution
requires. President Woodrow Wilson went to his grave stating that he
had betrayed his country in 1913 for his part in the establishment of
the Federal Reserve which is controlled by a consortium of
international bankers.

There are precedents for opposing the Fed. In 1837, President Andrew
Jackson eliminated a similar private money system and returned to
government printing. President Lincoln financed the Civil War by
printing greenbacks. This could well have caused his assassination.

On June 4, 1963, President John Kennedy signed Executive Order 11110
which directed the U.S. Treasury to issue paper certificates backed by
silver held by the Treasury. These certificates directly challenged the
authority of the Federal Reserve Bank to lend fiat (unbacked) money to
the U.S. government at interest. Over 4 Billion dollars in $2 and $5
U.S. silver certificates were put into circulation. The $10 and $20
notes were being printed when Kennedy was assassinated on November 22,
1963. Shortly afterward, all silver certificates were removed from
circulation and the program was discontinued.

When American people understood that the silver-backed notes were
real money, demand for Federal Reserve notes would have evaporated.
Trading goods and services with silver-backed U.S. notes is an exchange
of value for value while trading goods and services for Fed. Reserve
notes is trading value for pieces of paper.

How long are Americans going to put up with a Federal Reserve System
whose notes, backed by nothing, have lost 97% of their value since
1913?  During that same period, silver has increased in value 10-fold
and gold 50-fold.  Wouldn’t it be great if our money could hold its
value?

Hank Joeger

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