The Kennedy assassination

Lone gunman or coup d'état?

- John Hamer

On June 4, 1963 a virtually unknown Presidential decree, Executive Order 11110, was signed, which effectively stripped the Federal Reserve of its power to loan money to the Federal Government at interest.

This Executive Order has never been repealed or superseded by any subsequent Executive Order. In simple terms, it is still valid.

So, when Kennedy signed this Order, it returned to the Treasury Department, the constitutional power to create and issue currency, without going 'cap-in-hand' to the Federal Reserve Bank. EO11110 gave the Treasury Department the authority to 'issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury'.

It therefore seems obvious that Kennedy was fully aware that the Federal Reserve Bills being used as the purported legal currency were contrary to the constitution of the U.S.

JFK was also attacking the 'oil depletion allowance' which permitted oil producers to declare up to 27.5 per cent of their income as tax-exempt. This exemption provided them with a lower tax rate and a competitive business advantage not shared by any other business interests, and the government would thereby retain more than $300m in tax revenue each year with this 'allowance'.

Although the oil depletion allowance remained intact - due to the Congressmen who were recipients of oil company campaign contributions - this proposal made JFK some very powerful enemies in the oil industry.

In the early 1960s, Dallas was spectacularly corrupt. It was a city of great contrasts, being the epicentre of the 'Bible Belt' and yet also an enclave of organised crime and corruption. It was also the centre of the oil industry.

A 1964 New York Times article reported on a group of businessmen who had formed 'an invisible government... that ran Dallas without an electoral mandate.'