The Federal Reserve Scam

[Toro]

LOL. You totally are misconstruing JFK’s statement. Think. Think.

No dude, you don't get it. You don't understand the discipline. You might as well as say that a combustion engine works by magic. It makes as much sense.

 

[Toro]

Having a conversation with a conspiracy loon about this topic is tantamount to this.

Scientist: "Water is wet."

Person who has never studied science: "No it isn't."

Scientist, puzzled: "What are you talking about? What are your qualifications? Have you ever studied this?"

Person who has never studied science: "It says so on the Internet. I'm a truck driver. I know as much as you."

And that's the Internet.

 

[Toro]

Hahaha Crazy Dale is back!

Hi Dale Smith

 

[Dale Smith]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

 

[Dale Smith]

Hahaha Crazy Dale is back!

Hi Dale Smith

Yep, back to kick your ass.........sucks to be you, poseur.

 

[Dale Smith]

It’s not a conspiracy that JFK was trying to return control of the currency to the government, rather than the Fed. Dumb ass.

You're right. It's not a conspiracy because it didn't happen. It's a conspiracy theory, one that is propagated by people who don't know history and don't understand economics.

So, it’s your opinion JFK never signed Executive Order #11110. Could you kindly post a valid source backing your belief?

Come on Toto! Prove that the EO is a hoax and a conspiracy. You’re smart.

The EO is not a hoax.

Your reading of it is. Your belief that it was an attempt to end the Fed is the hoax.

All caught up now?

"Except for its use in coins, silver serves no useful monetary function." - John F. Kennedy

Silver certificates was a way of bypassing the Fed...they are still out there as collector's items. Silver has an intrinsic value....Federal Reserve notes are notes of debt.....just like Promissory notes, house notes, car notes, etc, etc..... per Black's law dictionary, dumb ass.

 

[Toro]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

 

[sparky]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

then lets keep it simple>>>

~S~

 

[Toro]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

then lets keep it simple>>>

~S~

Money is whatever people believe is money.

There’s nothing magical about gold and silver. The reason why it backed currencies in the past is because people believed it had value. And why did they think it had value? Because it’s shiny and pretty. If it wasn’t, nobody would have cared about gold and silver. That seems to be an odd criteria upon which to base your entire economy.

People also believe the dollar has value. That’s why it is the world’s reserve currency. That’s why people trade in black market dollars in countries with hyperinflation. Gold, silver, dollar - it doesn’t matter as long as people believe it has value.

This conspiracy theory is very silly. It’s on the fringes of society. People who understand economics just shake their heads and dismiss it out of hand. People who don’t understand economics either believe it or don’t know what to believe.

Scratch the surface of those believing this theory and you’ll find someone who believes most conspiracy theories.

 

[gipper]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

then lets keep it simple>>>

~S~

Money is whatever people believe is money.

There’s nothing magical about gold and silver. The reason why it backed currencies in the past is because people believed it had value. And why did they think it had value? Because it’s shiny and pretty. If it wasn’t, nobody would have cared about gold and silver. That seems to be an odd criteria upon which to base your entire economy.

People also believe the dollar has value. That’s why it is the world’s reserve currency. That’s why people trade in black market dollars in countries with hyperinflation. Gold, silver, dollar - it doesn’t matter as long as people believe it has value.

This conspiracy theory is very silly. It’s on the fringes of society. People who understand economics just shake their heads and dismiss it out of hand. People who don’t understand economics either believe it or don’t know what to believe.

Scratch the surface of those believing this theory and you’ll find someone who believes most conspiracy theories.

Again, you ignore the point and deflect. JFK had the Treasury issue MONEY, in direct opposition to the Fed.

Now prove the EO 11110 did not result in MONEY being produced by the Treasury?

 

[ding]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

 

[Toro]

I mean, you just had to read into the second paragraph of gipper's Wiki link to show he has zero clue what's going on!

On November 28, 1961, President Kennedy halted sales of silver by the Treasury Department. Increasing demand for silver as an industrial metal had led to an increase in the market price of silver above the United States government's fixed price. This led to a decline in the government's excess silver reserves by over 80% during 1961. Kennedy also called upon Congress to phase out silver certificates in favor of Federal Reserve notes which, according to the Associated Press at that time, were still backed by gold.​

Kennedy halted the sales of silver because there was a run going on. Why would he do that if he wanted - allegedly - no silver-backed notes? Why would he want to keep a stock of silver in the first place? He could have just let the silver reserves run-off and voila! No silver-backed notes.

This is seems to escape the loons who have zero academic knowledge and zero practical experience in these things.

As that paragraph states, the currency was backed by gold. US dollars were convertible into gold by foreigners, though not be Americans. In the late 1960s and early 1970s, there was a run on gold as foreigners began to call away the US gold supply because the US was financing a large deficit to fund the Vietnam War. The budget deficit - as it often does - led to a trade deficit, and foreigners wanted to be paid in gold fearing the devaluation of the dollar. On August 15, 1971, Nixon suspended gold convertibility. But Kennedy didn't know this would happen. It makes zero sense to have a gold and silver backed currency, especially when there isn't enough silver in the country to back the currency in the first place.

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

then lets keep it simple>>>

~S~

Money is whatever people believe is money.

There’s nothing magical about gold and silver. The reason why it backed currencies in the past is because people believed it had value. And why did they think it had value? Because it’s shiny and pretty. If it wasn’t, nobody would have cared about gold and silver. That seems to be an odd criteria upon which to base your entire economy.

People also believe the dollar has value. That’s why it is the world’s reserve currency. That’s why people trade in black market dollars in countries with hyperinflation. Gold, silver, dollar - it doesn’t matter as long as people believe it has value.

This conspiracy theory is very silly. It’s on the fringes of society. People who understand economics just shake their heads and dismiss it out of hand. People who don’t understand economics either believe it or don’t know what to believe.

Scratch the surface of those believing this theory and you’ll find someone who believes most conspiracy theories.

Again, you ignore the point and deflect. JFK had the Treasury issue MONEY, in direct opposition to the Fed.

Now prove the EO 11110 did not result in MONEY being produced by the Treasury?

The Treasury issues all money. The Fed does not and never has issued money.

As stated earlier in your own link, Kennedy was ending silver convertibility. You wouldn’t create permanent silver-backed notes if you were ending silver convertibility.

You’re just demonstrating you don’t understand basic monetary economics.

 

[Toro]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

Stick to the energy business ding.

 

[ding]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

Stick to the energy business ding.

Isn’t this where you tell us that you know more about this than everyone else combined?

 

[gipper]

LOL! Americans were not allowed to own gold bullion from 1933 (when USA.INC declared bankruptcy in March of 1933) until 1974 without a special licensing and it wasn't and still isn't allowed to be used to discharge debt. You are the one without knowledge or how the Bretton Woods agreement was to actually work and how the banking oligarchs that own USA.INC backed out on their gentlemen's agreement to not print more Federal Reserve notes than there was gold (of other nations that bought into the scam) to back it.

You have profited from scamming investors into buying into the Fed's system and their control of Wall Street. When the feces hits the oscillating blades and all this fake paper is exposed for the fraud that it is? My suggestion to you is to turn off your cellphone and move to some other location. I have challenged you to a live debate on G.T's blog talk radio channel and you folded like a cheap tent. Gipper is 100 percent correct. Your phony bullshit explanation doesn't mean even so much as dogshit. You are as phony sack of shit and you have no real convictions nor explanations that justify the existence of a central bank that "creates money" by an extension of "credit" from an empty ledger and then charges interest on it.

Allow me to put it bluntly, you are ten pounds of bullshit stuffed into a five pound sack. Debate me, Toro......either here or on a live podcast. It makes no difference to me because I will bury you under an avalanche of facts that you can't refute.

tl;dr

then lets keep it simple>>>

~S~

Money is whatever people believe is money.

There’s nothing magical about gold and silver. The reason why it backed currencies in the past is because people believed it had value. And why did they think it had value? Because it’s shiny and pretty. If it wasn’t, nobody would have cared about gold and silver. That seems to be an odd criteria upon which to base your entire economy.

People also believe the dollar has value. That’s why it is the world’s reserve currency. That’s why people trade in black market dollars in countries with hyperinflation. Gold, silver, dollar - it doesn’t matter as long as people believe it has value.

This conspiracy theory is very silly. It’s on the fringes of society. People who understand economics just shake their heads and dismiss it out of hand. People who don’t understand economics either believe it or don’t know what to believe.

Scratch the surface of those believing this theory and you’ll find someone who believes most conspiracy theories.

Again, you ignore the point and deflect. JFK had the Treasury issue MONEY, in direct opposition to the Fed.

Now prove the EO 11110 did not result in MONEY being produced by the Treasury?

The Treasury issues all money. The Fed does not and never has issued money.

As stated earlier in your own link, Kennedy was ending silver convertibility. You wouldn’t create permanent silver-backed notes if you were ending silver convertibility.

You’re just demonstrating you don’t understand basic monetary economics.

Yes JFK had money issued via the Treasury, that was not federal reserve notes. Right?

 

[Toro]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

Stick to the energy business ding.

Isn’t this where you tell us that you know more about this than everyone else combined?

Exactly.

 

[ding]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

Stick to the energy business ding.

Isn’t this where you tell us that you know more about this than everyone else combined?

Exactly.

I knew I could count on you for a few laughs.

 

[Toro]

tl;dr

then lets keep it simple>>>

~S~

Money is whatever people believe is money.

There’s nothing magical about gold and silver. The reason why it backed currencies in the past is because people believed it had value. And why did they think it had value? Because it’s shiny and pretty. If it wasn’t, nobody would have cared about gold and silver. That seems to be an odd criteria upon which to base your entire economy.

People also believe the dollar has value. That’s why it is the world’s reserve currency. That’s why people trade in black market dollars in countries with hyperinflation. Gold, silver, dollar - it doesn’t matter as long as people believe it has value.

This conspiracy theory is very silly. It’s on the fringes of society. People who understand economics just shake their heads and dismiss it out of hand. People who don’t understand economics either believe it or don’t know what to believe.

Scratch the surface of those believing this theory and you’ll find someone who believes most conspiracy theories.

Again, you ignore the point and deflect. JFK had the Treasury issue MONEY, in direct opposition to the Fed.

Now prove the EO 11110 did not result in MONEY being produced by the Treasury?

The Treasury issues all money. The Fed does not and never has issued money.

As stated earlier in your own link, Kennedy was ending silver convertibility. You wouldn’t create permanent silver-backed notes if you were ending silver convertibility.

You’re just demonstrating you don’t understand basic monetary economics.

Yes JFK had money issued via the Treasury, that was not federal reserve notes. Right?

There were silver certificates already in circulation and had been for something like 80 years. The problem was that people were cashing in the certificates for silver, causing silver stocks at the Fed to fall. The notes that Kennedy wanted to issue would have been used to bridge the demand for silver if there was a run on silver after the silver certificates were suspended, which they were a few years later.

This is why your theory doesn’t make sense. Kennedy was moving to suspend silver convertibility and there already were silver certificates in circulation.

Also, the Federal Reserve had been operating on a quasi gold/silver standard since 1913. The gold standard was a contributing factor to the Great Depression, which is why FDR - for better or worse - made it illegal for Americans to hold gold. But it is was still used to settle balance of payments all the way until 1971 when Nixon suspended convertibility because our gold was flowing out, primarily to the French and Europeans.

 

[Toro]

Toro defending fiat currency is as predictable as Hillary blaming a video for Benghazi.

Stick to the energy business ding.

Isn’t this where you tell us that you know more about this than everyone else combined?

Exactly.

I knew I could count on you for a few laughs.

If only you could be counted on for a few laughs in the 4F.

 

[Toro]

The idea that the Federal Reserve would be behind killing anyone is pretty damn funny if you know who actually works at the Fed. These people are the nerdiest of the nerds in finance. I mean, not ding-level neediness, but still, pretty nerdy.