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JFK and the Federal Reserve - A Historical Perspective
#42
I've been wanting to thank both of you, Jim and Phil, for your interest and information about John Saxon.

I have been thinking of factors which could have led up to John Kennedy's Executive Order No 11110 that ordered the Treasury Department to print 4.3 billion dollars in interest-free monies, backed by silver certificates, in June of 1963. John Saxon's work seems to have played a role in this. He was appointed to be Comptroller of the Currency to head the Office of the Comptroller of the Currency (OCC) on November 16, 1961, for a 5-year term, by President JKennedy.

I think John Kennedy, who read extensively in classical literature, philosophy, and history and became a democrat in every sense of the word, had some experiences and obtained knowledge during his lifetime which he drew upon as needed. In terms of current events, and everyday recent history, he had lived through the 1920s as a young child and began his adolescence in 1929, the year of the beginning of the Great Depression (he had been born on May 29, 1917). Even though his family was wealthy, he could not have missed seeing the poor begging on the streets of his home town, and the lines of people seeking food and work, during those early years of the 1930s..

When his father became Chairman of the Securities and Exchange Commission (SEC) in 1934 (until 1935), after President Roosevelt was elected in 1932 and began his Economic Recovery Programs and the regulation and reform of Wall Street financial institutions and the stock market practices, young John Kennedy was provided with insights and an education on the economy and monetary system few peoplw would have access to - from his father and from his reading of newspapers. Dinner table discussions were presided over by Father Joseph Kennedy for the entire family and they were all encouraged to ask questions and explore important events of the day.

During the years 1933-1934, there was the growing Wall Street plot to overthrow President Roosevelt and replace him with a fascist dictator. In all likelihood, the Kennedy family was not aware of this as were most Americans, but when the Dickstein-MacCormack Committee of the House of Representatives began their hearings on this treasonous action, newspapers such as the New York Times and others began reporting on it. Undoubtedly, Joseph Kennedy would know of it and follow this news and report to his family at dinnertime. John Kennedy weold now be about 17 years old.

After the hearings ended, Marine General Smedley Darlington Butler, a major witness at the hearings, spoke critically on the radio of the lack of justice for the perpetrators of the plot. If John Kennedy listened to him, it may have influenced his views in later life which were strongly against fascism and Wall Street criminals.

In 1935 Representative Louis McFadden gave his famous speech in the House of Representatives proposing the elimination of the Federal Reserve System of privately owned central banks which control the U.S. money supply. Perhaps John Kennedy, now 18 years of age with a curious, intelligent mind, paid heed to this speech and wondered how it could be done.

I have tried to imagine what influences during the life of John Kennedy could have affected his thinking and actions with regard to his taking partial control over the monetary system in an attempt to improve the economy. Many other and more important factors could have influenced him at different periods to undertake a dramatic change in the monetary system in place at that time by his xecutive Order No. 11110, but these are examples of some which happened during his early life.

Adele
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JFK and the Federal Reserve - A Historical Perspective - by Adele Edisen - 01-08-2012, 07:38 AM

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