RE: US Constitution: 2 Clauses about Money
Interesting post @john-robert!
Also, another forgotten law (an excerpt from my post Restoring the Lost Republic (6 PART SERIES): Part 3 – Department of the Treasury & The Federal Reserve (The Fed)):
John F. Kennedy was perhaps the only president who had the courage to take on these banksters when in 1963 he enacted Executive Order 11110 which gave back power to the U.S. Government to issue currency without going through the Federal Reserve. These were known as United States Notes and were, most importantly and significantly, interest free. As can be seen in the following figure, these currency notes were easily distinguishable from Federal Reserve Notes in that they used a red seal (as opposed to the green seal seen on Federal Reserve Notes) and were titled ‘United States Note’ rather than ‘Federal Reserve Note’.
These 1963 United States Notes (available in $2 and $5 denominations) were actually silver certificates and thus were backed by silver held by the Treasury as stated in the Executive Order:
“to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,”
After President Kennedy’s assassination in November of 1963, these United States Notes were immediately taken out of circulation. This is an absolute tragedy. At the end of 1963 the National Debt was about $306 billion; it has since ballooned to over $20 trillion today, or roughly $63,000 per American citizen (62). Who will end up paying this debt? Of course it is the current citizenry and future generations of Americans.
HERE IS THE MOST INTERESTING PART (that most people don't know):
The good news, however, is that Executive Order 11110 seems to have never been repealed by any U.S. President. In other words, it is still in effect; yet no president has used it since the death of President Kennedy. Regardless, the U.S. Government still has the power under the Constitution to issue debt-free and interest-free currency. Why it chooses not to remains a mystery, not to mention a tragedy.
Thank you for sharing.
"..the U.S. Government still has the power under the Constitution to issue debt-free and interest-free currency" . This is exactly right. This is clearly articulated by Art 1, Section 8, Clause 5 of the US Constitution.
They do. But unfortunately we have a bunch of traitors in Congress who have sold out the country while enriching themselves and their true masters - the cabal.
How Americans still tolerate this is beyond me.
This is relevant to "Clause 5 Money" - https://en.wikipedia.org/wiki/Early_American_currency
@hashcash; @ronaldoavelino.
Early American currency
Early American currency went through several stages of development in colonial and post-Revolutionary history of the United States. Because few coins were minted in the thirteen colonies that became the United States in 1776, foreign coins like the Spanish dollar were widely circulated. Colonial governments sometimes issued paper money to facilitate economic activities. The British Parliament passed Currency Acts in 1751, 1764, and 1773 that regulated colonial paper money.