A Sane Mitt Romney Distinguishes Himself on Monetary Policy

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Executive Order 11110 was issued by U.S. President John F. Kennedy on June 4, 1963.
John Fitzgerald Kennedy, the 35th President of the United States, was assassinated at 12:30 p.m. Central Standard Time (18:30 UTC) on Friday, November 22, 1963,
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve. Mr. Kennedy's order gave the Treasury the power "to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury." This meant that for every ounce of silver in the U.S. Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.
With the stroke of a pen, Mr. Kennedy was on his way to putting the Federal Reserve Bank of New York out of business. If enough of these silver certificats were to come into circulation they would have eliminated the demand for Federal Reserve notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the government the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver.
After Mr. Kennedy was assassinated just five months later, no more silver certificates were issued.

dan of CA 1:08PM February 24, 2012

Jeremy,
Romney is a likable guy. The reason people call Romney a robot is because of his work ethic. He was the only crazy person to go against a Kennedy in a Liberal state such as Mass, and he was actually winning. Romney is super competitive, and maybe too optomistic. Romney never sleeps or gives himself time off unless he's made to. If someone didn't change the locks on the White House, Romney would probably be working there right now during the night to correct the situation we're in. Can you imagine Obama's surprise if he woke up in the middle of the night and found Romney taking his phone calls in his oval office, telling the Chinese to get their act together. That is why Michelle made them change the locks. As crazy as it sounds at least though, something would have gotten done in the Oval Office. That's why Romney's a robot, he had to be to compete in the 21st century, and that is why iphones have replaced pay phones and robots have replaced so many workers in the manufacturing industry, because robots are people my friend. This is also why true Romney followers call themselves affectionately rombots.

D12345 of MD 5:17PM September 09, 2011

I meant to say "completely normal guy".

Jeremy Olson of NY 4:37PM September 09, 2011

Sorry, typo below. What I meant to say was:
I never understood the "Robot" comment. Romney seems like a likable and completely normal guy to me.

Jeremy Olson of NY 4:35PM September 09, 2011

I never understood the "Robot" comment. Romney seems like a likable and completely guy to me.

Jeremy Olson of NY 4:33PM September 09, 2011

I agree with Romney . . . there are bigger fish to fry than Bernake's insidious ineptitude. Bernake's just part of the problem and not the solution to the cure.

David of ID 6:09PM September 08, 2011

Frank of ks
You must begin to think for yourself. Get your GED go to college get a degree in finance if you have the mental acumen, then tell us how Bush economics even remotely resemble the plans laid out by Mitt Romney.
Stop subscribing to the Obama/liberal/Union class warfare garbage. Business success does not equal the middle class getting screwed. It means more jobs! In a consumer based economy more jobs means more money if your to slow to recognize it. The only way you could be against more jobs is if your part of the lazy dependance class. Able bodied american that would rather sit on your fat lazy ass and watch Jerry Springer while the government pays your way with our tax dollars.
Get an education, get a job and get off welfare you leach!!!!

Bruce of AZ 11:31AM September 08, 2011

"Romney is programed for sanity" is exactly why I will vote for him. I am a conservative voting for a conservative.

Susan of OH 10:46AM September 08, 2011

Frank of KS_ Keep on praying for your little buddy obama. If it wasn't for bad news, obama would have no news at all. Closer to election we get even Donald Duck could beat obama:
"Aug 22, 2011 4:47pm
Obama in Dead Heat with Romney, Perry, Paul, Bachmann in Gallup Poll"
http://abcnews.go.com/blogs/politics/2011/08/obama-in-dead-heat-with-romney-perry-paul-bachmann-in-gallup-poll/
___
September 06, 2011
"By 2-1, Americans Say Obama Made Economy Worse, Not Better"
"Summer of Discontent Slams Obama and Republicans – ABC News / Washington Post Poll"
"More than half of Americans now disapprove of Barack Obama’s job performance, six in 10 rate his work on the economy and job creation negatively and more than one in three say they’ve become worse off financially under his presidency – a high in ABC News/Washington Post polls since Ronald Reagan trademarked the question a generation ago."
"Those results and others underscore the depths of this summer of economic discontent. With unemployment stubbornly over 9 percent, 77 percent say the country is headed seriously off on the wrong track, up 17 points this year to the most since the end of George W. Bush’s presidency"
"In a further sign of the deep hazards to Obama, Americans by a 2-1 margin, 34 percent to 17 percent, now say his administration’s efforts have done more to harm rather than help the nation’s economy. The number who say his economic program has improved the economy has plummeted by half since January. And 47 percent say it’s had no effect."
http://nation.foxnews.com/president-obama/2011/09/06/2-1-americans-say-obama-made-economy-worse-not-better

Bill Hedges of MO 11:08PM September 07, 2011

Romney is BushEconomics Redux.
Romney's plan was a joke - more failed Republican gimmicks that are responsible for the economic mess we are in now.
Romney offers another plan to coddle billionaires while slashing and burning things for the rest of the country. Nice if you're a billionaire, but the rest of the country is screwed.
Remember Romney is unemployed and only you can make sure he stays that way - so he and redecorate his billion dollar beach house, again.

Frank of KS 7:52PM September 07, 2011