ABOUT TOM WOODS

Thomas E. Woods, Jr., is the New York Times bestselling author of 11 books, including The Politically Incorrect Guide to American History and Meltdown (on the financial crisis). A senior fellow of the Ludwig von Mises Institute, Woods has appeared on MSNBC, CNBC, FOX News, FOX Business, C-SPAN, Bloomberg Television, and hundreds of radio programs... (Read More)



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Was JFK Assassinated Because He Opposed the Fed?

25th October 2012      by: Tom Woods     

I run into this claim quite a lot. A lot of the people advancing it are fans of G. Edward Griffin, and this is why I find it so odd that this theory has gained so much traction. Griffin discounts the theory in his excellent book The Creature from Jekyll Island. More on that in a minute.

There seems to be a desire among some end-the-Fed people to believe that we’ve had a few good presidents who have tried to stand up for the people but were tragically stopped by the bankers. Thus we hear this fake quotation, attributed to Woodrow Wilson, quite a bit: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”

The first two sentences of this quotation are entirely fabricated. The rest come from a book Wilson published in 1913, before the Fed was even created. Yet the quotation is routinely given as evidence that Wilson regretted creating the Fed. He didn’t. He was proud of it.

Then there’s this Jefferson quotation that a lot of Greenbackers use: “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.”

Now look, there are plenty of anti-national bank quotations one can find from American statesmen, so why use a fake one? I suspect the answer is that this fake quotation goes after the “private banks,” which Greenbackers oppose. So now Jefferson is made to look like someone who wants the government, not the “private banks,” issuing the paper money. But Jefferson was a hard-money man to the end, calling for the retirement of all paper money and its replacement with specie, and writing the introduction to the English translation of Destutt de Tracy’s hard-money treatise.

Now back to JFK. The idea that a scion of the Eastern establishment would take aim at the Federal Reserve is preposterous, but people want to believe it. I wish they would instead understand that there were no great presidents who were snookered by the bankers, etc. They’re all part of the same racket.

Here’s G. Edward Griffin on JFK, who was not doing anything to undermine the Fed. Kennedy was quite pleased about the expansionary Fed policy of the 1960s, as a matter of fact.

Unlearn the Propaganda!

  • http://twitter.com/Republicae Republicae

    Exactly! Neither order gives the Federal Reserve any other additional powers however, if you look at public law and compare it to the directive of JFK both in 1961 and again in 1963, as reflected in his Economic Report to Congress 1963, he recommended and it was made law that, for the first time, the Federal Reserve would be allowed to issue Federal Reserve Notes in small denominations in order to replace all Silver Certificates and eventually United States Notes. Actually, although another subject, the Federal Reserve is a mixed corporate/government entity. While it is quasi-private it is also totally different than any other private corporation, it’s by-laws are mandated by Congress, it’s shares and the profitability of those shares are also mandated by Congress, it’s Board of Governors and the Chairman is appointed by the President and confirmed by Congress. So, it is neither private nor public in the strict sense of a corporation. It is, in fact a system of Mercantilism, a government Patronage system that benefits this government more than any other entity. Without the FED and the fiat monetary system this government could not do the things it does nor could it easily usurp the legal authority of the Constitution therefore, not only is the FED an Un-Constitutional entity, but by its actions this government should no longer be considered the legitimate government of These United States, which are and ought to be Free, Sovereign and Independent. If ever there was time to cry DISUNION, this is it.

  • http://twitter.com/Republicae Republicae

    If anyone can show where Kennedy was planning to issue U.S. Notes directly from the Treasury be my guest, the Notes were already being issued and had been issued prior to the Kennedy Administration by force of law governing the Treasury, it had nothing whatsoever to do with JFK. Thus the entire premise makes absolutely no logical sense in terms of the argument as you present.

    The fact is that the Treasury was, by law, required periodically, to issue Banks Notes to maintain the supply of usable Notes in circulation as spelled out by the 1868 Law which mandated that requirement. The Treasury did issue United States Notes in 1963, as it had periodically in the past, so that is nothing new and the fact is that it just so happened to determine the necessity of such an issue during 1963 is neither here nor there in terms of significance.

    United States Notes had been issued along side Federal Reserve Notes since the inception of the Federal Reserve, hardly something that should raise the ire or anything else within the FED. I am amazed as just how far people are willing to stretch the truth to support their beliefs in such matters.

  • http://twitter.com/Republicae Republicae

    …and given the evidence to the contrary, that is not an issue because he wasn’t assassinated because of his supposed “Greenbackerism”. He didn’t issue United States Notes, they were being issued by the Treasury due to the 1868 Law mandating it, he gave the Federal Reserve the authority to issue small denomination Federal Reserve Notes for the first time since the inception of the FED, he set the stage for the elimination of Silver Certificates and eventually silver coinage in this country. Hardly something the FED would disapprove of or be angry over, the Myth is just that, a Myth that is based on what appears to be absolutely no research whatsoever.

  • http://twitter.com/Republicae Republicae

    We should never let the government control the money supply, in fact, we need to get the government out of the money making business altogether.

  • Anonymous

    Just one quibble. It has always been my understanding that the reason that the Fed was quasi-private was because the Constitution did not allow for the Federal government to issue bills of credit, but that it could borrow on behalf of the United States. In other words, the FRS utilizes a loophole whereby the Fed issues the fiat, but the government borrows it and then spends it into circulation.

    Note: the constitution explicitly prohibits the states from issuing bills of credit. However, it is also clear that the power to issue bills of credit wasn’t a power that was delegated to the federal government, instead being delegated the power to “coin money, regulate its value …”.

  • http://twitter.com/Republicae Republicae

    Actually, the reason the FED is quasi-private has nothing to do with Constitutional construction, but rather the nature of a system that, by necessity, must be joined as a corporatist entity, in other words a government empowered cartel. The Constitution makes no allowances whatsoever for the Central Bank, nor does it make any allowances for any form of money other than gold and silver. We must remember that there is a very valid principle within the Constitution that declares the limitations of both the general and State governments. Unless specifically restricted, the States are allowed all that is not specifically delegated to the general or federal government; the federal government, on the other hand has no powers or authority unless it is specifically enumerated and therefore delegated to it by the States in the Constitution.

    The Constitution is not an agreement between the federal government and the governments of the States, but between the States themselves, they are the only party to the contract, the results of that contract or compact is the federal government which, by enumerated powers, is defined and limited to only those powers and authority as designated within the Constitutional Compact.

    The Federal Reserve, like so many other entities formed by the conglomeration of government and corporate power, is nothing less than a government sponsored and formed monopoly or cartel operating outside the purview and authority of the Constitutional Compact therefore, it and all ancillary operations as associated with the government are illegitimate. As the primary beneficiary of Federal Reserve policy, the government has a vital interest in maintaining its operations despite the actual harm it does to this society through the economic distortions created through such policies.

    The fact is that there is no loophole, it is a well-crafted, artificial construct that ignores Constitutional authority, overrides delegated powers and the reserved powers of the State Republics. In other words, it is a usurpation of power beyond the scope designated within the Constitution, it is no more legal than the government sponsored corporations like FannieMae or FreddieMac.

  • Anonymous

    Google “LBJ-CIA Assassination of JFK.” LBJ’s personal reasons and Cuba policy were major factors in the JFK assassination.

  • Anonymous

    Don’t leave out Lyndon Johnson’s personal reasons – perhaps the greatest factor in addition to Cuba policy.

  • John

    What do you think about Jackie killing JFK? Somebody had to pull the trigger for the Fed, why not Jackie? It makes sense

    All explained in 92-page pdf document “Reverse Engineering of JFK Assassination Plan Featuring The Killer Queen”. Also many interesting references to movies “JFK”, “Pink Panther”, song “Killer Queen”, etc. Available for free download at:

    http://jackieiskillerqueen.blogspot.com/

  • http://www.facebook.com/profile.php?id=1158893743 William Dziekanowski

    Executive order 11110 was 8 billion interest free money that was projected to leave America with zero national debt by the year 2000, We had $8 billion in silver…There was no need to borrow money at interest when we could back it with silver and print it up to the $/oz threshold. Now if you don’t think having 0 national debt in under 40 years was a good reason he was killed,I can never convince you of anything. If we had NO NATIONAL DEBT ,This country could be run entirely on 10% sales tax and have a surplus annually,We would be at 1% unemployment because all Taxes come from sales..Not Payroll or Profit. More you make,the more you keep $1 for $1.

  • Servant Emmanuel

    And we should believe this guy, WHY???

    This is sick and sad that this man G. Edward Griffin and his claims, can come out and say what was in the mind of Kennedy back in the 60′s
    DO YOU LOOSE YOUR MIND ONCE YOU PASS 70 NOW?

  • JamesFrancis75

    Get off Woods jock.. I’ll check it out though

  • JamesFrancis75

    James Files took the final shot.. Research it

  • DaveBeaulieu

    He fails to mention why Kennedy created U.S. Government notes. Did he forget about them?

  • Vengeance belongs to God

    JFK was killed by rouge elements in the Dallas protestant community and was planned by the city of Dallas for at least two weeks before the murder. James Lovelady worked for the Dallas sewer Department, and in Tucson, Ariz. in 1977 he told me that there was a manhole obstruction placed at Main and Houston two weeks before Kennedy’s visit in Dallas. The murder of Kennedy was well planned in advance and it was orchestrated by many officials in the city of Dallas, Texas. The whole joke of one man pulling this off is a joke, and the joke is on you and the whole world.

  • Henry

    You sound just like another paid whore of the
    Zionist Jews

    http://islamhenryastamainstreamnewsmediadirt.blogspot.com/

  • Steve Daily

    Um, so Executive Orders 11110 and 10289 were fake? Lincoln’s greenbacks were fake? The money Kennedy had minted without the Federal Reserve printed on them were fake (even though I’m holding one in my hand right this minute)? Woods, you’ve got a chemical imbalance. You’re free to hate every single President ever, but let’s not call things fake that are self-evident. that’s just loony.

  • DaleC

    So did Reagan,so…?

  • DaleC

    How are we at the “mercy” of the Chinese? Debt?

    The latest numbers I have are Aug 2013;

    Total Public Debt – $12.122 Trillion
    Debt held by the Federal Govt (intragvmt debt) $5 Trillion
    Social Security – $2.764 Trillion
    Chinese – $1.176 Trillion
    Japanese – $1.108 Trillion

    Pretend for a minute the Chinese called ALL of their debt (which they can’t because of the nature of the instruments) and crashed our economy. What would their investment be worth? Where would they sell their goods? The destruction of our economy would destroy their own.

    You lack of “economic” knowledge is given away by the rest of your post.

  • David Kramer

    JFK was NOT going to end the Fed nor was his Executive Order 11110 hurting the Banksters. In fact, it was helping the Banksters because it ended the use of silver as a medium of exchange. (Nixon ended gold’s use as a medium of exchange.)

    http://en.wikipedia.org/wiki/Executive_Order_11110

    “The order allowed the Secretary to issue silver certificates, if any were needed, during the transition period under President Kennedy’s plan to eliminate silver certificates.”

    Here in Kennedy’s own words:

    “I again urge a revision in our silver policy to reflect the status of silver as a metal for which there is an expanding industrial demand. Except for its use in coins, silver serves no useful monetary function.

    In 1961, at my direction, sales of silver were suspended by the Secretary of the Treasury. As further steps, I recommend repeal of those Acts that oblige the Treasury to support the price of silver; and repeal of the special 50-percent tax on transfers of interest in silver and authorization for the Federal Reserve System to issue notes in denominations of $1, so as to make possible the gradual withdrawal of silver certificates from circulation and the use of the silver thus released for coinage purposes. I urge the Congress to take prompt action on these recommended changes.”

    And I guess the Congress should have been assassinated too:

    http://en.wikipedia.org/wiki/Executive_Order_11110#Public_Law_88-36

    “The House of Representatives took up the president’s request early in 1963, and passed HR 5389 on April 10, 1963, by a vote of 251 to 122. The Senate passed the bill on May 23, by a vote of 68 to10.

    Kennedy signed the bill into law on June 4, 1963, and also signed an executive order (11110) authorizing the Treasury Secretary to continue printing silver certificates during the transition period. The act, which became Public Law 88-36 (77 Stat. 54), repealed the Silver Purchase Act of 1934 and related laws, repealed a tax on silver transfers, and authorized the Federal Reserve to issue one- and two-dollar bills, in addition to the notes they were already issuing.”

    HERE is the original source for that Wikipedia text above in which JFK explains why he issued the Order:

    Economic Report of the President, January 1963 (January 21, 1963)

    https://archive.org/details/EconomicReportOfThePresidentJanuary1963

    …and here on page XXIII (the right page, starting with the middle paragraph titled, “Silver”), you can see the Wikipedia text above which used THIS as its original source:

    “I again urge a revision in our silver policy to reflect the status of silver as a metal for which there is an expanding industrial demand. Except for its use in coins, silver serves no useful monetary function.

    In 1961, at my direction, sales of silver were suspended by the Secretary of the Treasury. As further steps, I recommend repeal of those Acts that oblige the Treasury to support the price of silver; and repeal of the special 50-percent tax on transfers of interest in silver and authorization for the Federal Reserve System to issue notes in denominations of $1, so as to make possible the gradual withdrawal of silver certificates from circulation and the use of the silver thus released for coinage purposes. I urge the Congress to take prompt action on these recommended changes.”

    JFK is ending the use of silver as money. (Eventually, even the silver coins were taken out of circulation. See text below.) How is that “hurting” the Banksters when the entire purpose of FRNs is to be able to print them up without being backed by a real asset, e.g., silver?

    https://www.silverinstitute.org/site/silver-price/silver-price-history/1960-1965/

    “During the 1960s the Treasury moved from being a net buyer of silver to being a net seller of silver. In 1960, the Treasury sold 22 million ounces of silver in bullion form, and used another 46 million ounces in coinage. The next year the Treasury had to sell 63 million ounces of bullion and use another 56 million ounces to replace silver coins that had been taken out of circulation by investors. That year, 1961, the Treasury realized that it would run out of silver for use in coinage and as a reserve against silver certificates unless it took drastic measures to begin phasing silver out of currency. In 1961, the Treasury ordered $5 and $10 silver certificates out of circulation, which freed up silver reserves and reduced the public’s call on Treasury silver. In November 1961 the government also suspended silver bullion sales by the Treasury at the formerly fixed price of 91 cents.

    Once the Treasury stopped selling at that price, market quotes for silver quickly rose. In June 1963 the Treasury replaced the $1 silver certificate with Federal Reserve notes. By 1963, silver prices reached $1.29, the monetary value of silver in coinage. At prices above this level, holders of silver certificates would have been able to redeem them for more valuable silver, under the now-defunct silver certificate legislation. (The other trigger price the Treasury worried about was $1.38, at which level it would have become profitable to recycle coinage for its silver content.)

    During this transition period, the U.S. Treasury had to keep the silver market well supplied, so that the silver market would remain calm until silver had been completely withdrawn from currency. In late 1963 the Treasury resumed its silver bullion sales, as part of this effort.

    Over the six years between 1960 and 1965, the Treasury sold a total of 342 million ounces of silver bullion and used another 814 million ounces of silver in coinage. In total, the Treasury used 1,156,000,000 ounces of its silver reserves. Much of this silver, especially the bulk of its used in coins, was
    quickly bought up by investors. Government steps to remove silver from the
    currency led investors to conclude that the price of silver would rise sharply
    once the Treasury no longer was supplying the market with such large volumes of the metal.”

    Did you see that sentence in Paragraph 2?

    “In June 1963 the Treasury replaced the $1 silver certificate with Federal Reserve notes.”

    And how about this from Paragraph 3?

    “During this transition period, the U.S. Treasury had to keep the silver market well supplied, so that the silver market would remain calm until silver had been completely withdrawn from currency.”

    How is THAT “hurting” the Banksters’ interests?



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