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[Jester] HI MODS, PEEPS, LURKERS, AND CRITTERS... HAPPY TUESDAY...
[Jester] SOOOO... WHAT IS THE AGENDA FOR TONIGHT? HAHAHA
[Betsy Ross] Jester I don't know. What do you have in mind?
[Jester] I THINK THERE WAS A LEFTOVER FROM THE LAST CHAT BUT I CANNOT REMEMBER WHAT IT WAS ABOUT.... OOPS...
[Jester] SOMEONE IS SUPPOSED TO CATALOG THE THINGS I SAY WILL TALK ABOUT LATER BUT THEY NEVER TELL ME....
[MotoXR] Oil Credits removal of the zero's and groups
Jester Betsy Ross brought up the following last night. Can you elaborate on your comment? [Jester] Betsy Ross THERE ARE PLENTY OF TIMES IN HISTORY THAT DIFFERENT CURRENCIES EXISTED IN THE US.... MAYBE THAT IS A SUBJECT FOR TOMORROW.."
[MotoXR] Jester removal of the zero's VS RI wouldn’t our govt be better giving us the higher rate and then taking all the taxes Or is it not their decision Or they take the RI for themselves ?
[Truth] If I recall correctly you mentioned to Betsy Ross that there had been other currencies used in US but not enough time to discuss that. Right?
[Jester] Truth MAYBE... YOU GUYS ARE GRASPING AT STRAWS... HAHAHAHA
[Jester] THE FACT OF THE MATTER IS EVERYONE IS WHINING ABOUT HOW WE CAN HAVE TWO CURRENCIES... BUT IT REALLY IS A PRETTY SIMPLE CONCEPT...
[Jester] IT IS EASY TO GOOGLE AND YOU CAN CHECK ME OUT ON IT EASILY ENOUGH.. YOU WILL GET CAUGHT UP IN ALL THE KENNEDY CONSPIRACY THEORIES BUT THAT IS A DIFFERENT STORY....
[Jester] THE FACT OF THE MATTER IS THAT THE EASIEST EXAMPLE TO LOOK AT IS BACK IN ABOUT 1963...
[MotoXR] Jester coexist over time till the old is removed
[Jester] MotoXR NOT NECESSARILY... ARE YOU AWARE OF A LITTLE MATTER OF A REQUIREMENT THAT THE UST MAINTAIN A CERTAIN AMOUNT OF CURRENCY IN CIRCULATION...
[Jester] AND THAT THE FEDERAL RESERVE IS NOT THE UST... JUST SAYING...
[MotoXR] Jester Yes
[Jester] THEN THAT EXPLAINS HOW WE CAN HAVE UST NOTES OR WHATEVER SOMEWHERE OUT THERE AND THE USD SUPPLIED BY THE FED RIGHT?
[Jester] BUT I WILL GIVE AN EVEN MORE OBVIOUS EXAMPLE BY SITING THE SILVER CERTIFICATES... AND WE WILL FOR CERTAIN HAVE SOME CONTROVERSY HERE... HAHAHAHA
[Jester] Kennedy apparently reasoned that by returning to the Constitution, which states that only Congress shall coin and regulate money, the soaring national debt could be reduced by not paying interest to the bankers of the Federal Reserve System, who print paper money [and] then loan it to the government at interest. He moved in this area on June 4, 1963, by signing executive order 11,110 which called for the issuance of $4,292,893,815 in United States Notes through the U.S. Treasury rather than the traditional Federal Reserve System. That same day, Kennedy signed a bill changing the backing of one-and two-dollar bills from silver to gold, adding strength to the weakened U.S. currency . . . A number of “Kennedy bills” were indeed issued—the author has a five-dollar bill in his possession with the heading “United States Note”—but were quickly withdrawn after Kennedy’s death.
[Jester] EVERYONE HAS HEARD THIS RIGHT?
[MotoXR] Jester Yes I have
[Pilgrim] I HAVE SEVERAL $2.00 BILLS
[Jester] WHAT IF I TOLD YOU THAT THAT STATEMENT IS NOT ENTIRELY ACCURATE...?
[LuckyB] what that Johnson did not resend executive order 11110 within 48 hours after J F K 's Death
[Jester] LuckyB AHA... WRONG AGAIN.. SEE WE WILL GET TO THE BOTTOM OF A FEW THINGS TONIGHT... HAHAHAHAH
[LuckyB] thats good we need to cause i need the full meal deal
[Jester] If you look at a copy of EO 11110 you will find that it does not order the issuance of Silver Certificates. It orders an amendment to EO 10289. If you then look up EO 10289, you will find that it says: The Secretary of the Treasury is hereby designated and empowered to perform the following-described functions of the President without the approval, ratification, or other action of the President.
[Jester] Those functions did not include the power to issue Silver Certificates. The purpose of EO 11110 was to add that power to the list. The exact wording of the Order was: Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): (1) "The authority to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury."
[Jester] EO 11110 did not order the printing of Silver Certificates. It ordered the amendment of a previous executive order so that the United States Code would authorize or "empower" the Secretary of the Treasury to issue Silver Certificates if the occasion should arise.
[Jester] The occasion did arise between January 1963 and October 1964 with the issuance of 768 million of the 1957B Series, which carried the signatures of Kathryn O'Hay Granahan and C. Douglas Dillon. This was the smallest issuance since 1935, and it was the last. Please remember, however; that, EO11110 did not order the issuance of these certificates. It merely authorized the Secretary of the Treasury to do so, which is what happened.
Silver Certificate (United States) http://en.wikipedia.org/wiki/Silver_Certificate
[Jester] GOTTA LOVE THE INTERNET... YOU CAN FIND WHAT YOU WILL LIKE TO KNOW IF YOU ARE
[Jester] What E.O. 11110 did was to modify previous Executive Order 10289, delegating to the Secretary of the Treasury various powers of the President. To these delegated powers, E.O. 11110 added the power to alter the supply of Silver Certificates in circulation. Executive Order 11110, therefore, did not create any new authority for the Treasury to issue notes; it only affected who could give the order, the Secretary or the President.
[Jester] NOW... THIS WILL HURT YOU KENNEDY LOVERS THAT THINK HE WAS DOING A GOOD THING... BUT IT IS WHAT IT IS...
[Jester] Ironically, the purpose of the order and the legislation was to decrease the circulation of Silver Certificates, with Federal Reserve Notes taking their place. As economic activity grew and prices rose in the 1950s and early 1960s, the need for small-denomination currency grew at the same time that the price of silver increased. The Treasury required silver for the increasing number of Silver Certificates and coins needed for transactions. But the price of silver was rapidly approaching the point that the silver in the coins and in reserve for the certificates was worth more than the face value of the money
[Jester] To conserve on the silver needs of the Treasury, President Kennedy requested legislation needed to bring the issuance of Silver Certificates to an end and to authorize the Fed to issue small denomination notes (which it could not at that time). The Fed began issuing small denomination notes almost immediately after the legislation was passed. And in October 1964, the Treasury ceased issuing Silver Certificates altogether. If anything, E.O. 11110 enhanced Federal Reserve power and did not in any way reduce it." (See "Money and the Federal Reserve System: Myth and Reality," by G. Thomas Woodward, Specialist in Macroeconomics, Economics Division, Congressional Research Services, Library of Congress, CRS Report for Congress, No. 96-672 E, July 31, 1996.)
[Jester] YIKES... DOESN'T THAT REALLY SCREW UP AN URBAN LEGEND... ???
[Pilgrim] FOR SURE
[Truth] Jester yes it does.
[Jester] Let's put this issue into perspective. The proponents of the JFK Myth assert that Kennedy was assassinated because he was about to issue Silver Certificates, thereby denying the bankers their customary interest payments on the nation's currency. However, the reality was just the opposite. Previously, the President could have issued Silver Certificates on his own authority; but, with the signing of EO 11110, he delegated that authority to the Secretary of the Treasury. At that time, the Secretary of the Treasury was Douglas Dillon from a well-known and powerful banking family. That means Kennedy surrendered the power to issue Silver Certificates and gave it to a member of the banking fraternity who could do with it as he pleased "without the approval, ratification, or other action of the President." Dillon, of course, would have strong motive to preserve the dominance of Federal Reserve Notes. The theory that Kennedy was getting ready to issue Silver Certificates is without evidence or logic.
[Jester] SOMEONE ASKED ABOVE BUT I CANNOT SCROLL BACK THAT FAR BUT HERE IS THE ANSWER TO THE QUESTION... The Christian Common Law Institute has exhaustively researched this matter through the Federal Register and Library of Congress. We can now safely conclude that this Executive Order has never been repealed, amended, or superseded by any subsequent Executive Order. In simple terms, it is still valid.
[Jester] BUT TO COUNTER... This is not supported by the facts. The power granted to the Secretary of Treasury to issue Silver Certificates was rescinded on September 9, 1987, by Executive Order 12608, signed by President Reagan. The official purpose of the Order was stated as "Elimination of unnecessary Executive orders and technical amendments to others." It did not affect EO 11110 directly but did affect the parent EO 10289 - along with 62 other executive orders. That is how paragraph (j) was amended to remove the power in question. This Order can be found in its entirety in the Federal Register 52 FR 34617.
[Jester] WHEW... THE DANG POLITICIANS SURE CAN MAKE THINGS CONFUSING... HAHAHAHA
[LuckyB] so who ever is at the head of the U S T . can throw out a few Trillion asset backed .. dollars at will right ?
[Jester] BUT NOTICE SOMETHING HERE... JOHNSON WAS NOT MENTIONED... REAGAN WAS THE ONE THAT DID THAT... SO THE URBAN LEGEND THAT SAYS JOHNSON DID AWAY WITH THIS AND THAT WITHIN HOURS OF KENNEDY'S DEATH IS NOTHING MORE THAN BS....
[Jester] THE DEATH OF ANOTHER URBAN LEGEND.... HAHAHAHA
[jbmeans] Jester, this is really good stuff, thanks
[alfonse] Was this before or after the assassination attempt
[Jester] ANOTHER CURIOSITY...
[Jester] The picture is blurred by the fact that the Treasury did issue United States Notes in the same year as EO 11110 (1963) but, as discussed further along, U.S. Notes are not the same as Silver Certificates. Furthermore, their issuance had nothing to do with EO 11110. It was mandated by an 1868 act of Congress, which required the Secretary of the Treasury to maintain the amount of U.S. Notes outstanding at a fixed level. This did not originate with JFK and, in fact, he probably had no deep understanding of it. It was a routine matter initiated by the Treasury merely to replace worn and damaged specimens of older Notes in order to comply with the 1868 law. Apparently some of these new Notes did get into circulation but were quickly snapped up by private collectors. They never became a significant part of the money supply and, in fact, were not intended to.
[Jester] SO NOW WE HAVE THREE CURRENCIES COEXISTING AT THE SAME TIME IN THE US... AND NOT THAT LONG AGO... HOW YA LIKE THEM APPLES? HAHAHAHA
[Jester] IF YOU LIKE TO CONTINUE WITH THE CONSPIRACY THEORY THEN WE CAN OR WE CAN DROP IT HERE SINCE I HAVE NOW PROVED MY POINT ABOUT COINCIDENTAL CURRENCIES...
[MotoXR] Hmmm History seems like it will be repeated with the TRN and UST notes. Very good info Jester Thank you
[Jester] MotoXR I BELIEVE THAT IS THE CASE...
[Pilgrim] THE ONLY CONSPIRACY IS THE FED. IMHO
[jbmeans] Another reason that most will not even notice what is happening
[Jester] jbmeans FOR SURE...
[Jester] OK.... ONE MORE POINT AND THEN I WILL LEAVE THIS ALONE... SINCE EVERYONE IS ALREADY WEIRDED OUT... HAHAHAHA
[MotoXR] Jbmeans Make things to confusing to the people and they dont want to dig deeper and just go along with their daily lives in the dark not knowing why
[Jester] the difference between Silver Certificates and United States Notes. In monetary terms, a Note means a promissory note. A Note is any financial instrument that states in clear and unambiguous terms who is to pay what to whom on what date. All four elements must be included. [See Ewart, James E., Money (Seattle, Principia Publishing, 1998), pp. 27-29.] Therefore, any paper currency that displays a statement such as "The United States Treasury will pay to the bearer on demand twenty dollars in silver coin" is a Note. A Silver Certificate is just one form of a Note. Other forms existed in the past and included Bank Notes, United States Notes, Gold Certificates, and even Federal-Reserve Notes in those by-gone days when they were backed by gold.
[Jester] Earlier issues of U.S. Notes displayed printed statements to the effect that (1) the bearer could redeem them (2) at the Treasury (3) on demand (4) either for dollars or a specified weight of gold or silver. During those years, a dollar was defined by law as 371.25 grains of pure silver, which was the amount contained in a One-Dollar silver coin. The law also provided that the metal could be in the form of coins, dust, nuggets, plate, or bullion. Therefore, whether the phrase printed on the currency promised dollars, silver, or gold, it ultimately meant precious metal in one form or another - usually coin. Since there was nothing ambiguous about that, those U.S. Notes were true Notes in the legal sense because they contained all four elements of a promissory note.
[Jester] This tradition began to change in the late 1960s and, since about 1971, U.S. Notes have become very ambiguous, indeed, about what can be redeemed for them. The former clearly written contracts have now been replaced by random, unconnected phrases such as The United States of America; Twenty Dollars: This note is legal tender for all debts, public and private. These words look official and impressive but, in terms of a contract to redeem the currency for something of intrinsic value, they have no meaning at all. Silver Certificates once were a promise to deliver silver. U.S. Notes now are a promise to deliver taxes and inflation.
[MotoXR] Jester worthy metals now replaced by nickel copper and lead lol
[TinRoof] Jester...that last sentence says it all
[jbmeans] Jester and I remember reading about some of that happening in the 60's and 70's, but went about my life....
[Jester] MotoXR WELL... NOW YOU SEE WHAT IS REAL AND WHAT HAS BEEN SPUN UP TO FAKE YOU OUT.... HAHAHAHA
[Jester] BUT ANYWAY... THE NAYSAYERS THAT ARE TELLING ME THAT WE CANNOT HAVE BOTH AT THE SAME TIME NEED TO GET ANOTHER STORY...
[Jester] A GUY CAME ON RECAPS POO-POOING MY POST FROM LAST NIGHT... International banking regulations state that bank notes will retain their face value. The three zeros on the notes cannot be ignored. The removal of the three zeros refers to the $.00086 . Notes can be withdrawn from circulation but only after a certain time limit, usually around two years.
[Jester] I GOT NEWS.... THIS IS NOT A TRADEABLE CURRENCY FRIEND... YOU OWN SOMETHING YOU BOUGHT FROM A DEALER THAT SOLD IT TO YOU BECAUSE YOU THOUGHT IT WAS WORTH WHAT YOU THINK IT IS WORTH... GOOD LUCK WITH THAT REASONING WHEN THE TIME COMES....
[LuckyB] what i have been reading and hearing faked me out for sure , but when your an average smoe it sounded real at the time and now you Mr J flip the light on and again . what was stated in the past is more fairy tales from the other people .. T Y you breaking that down
[Jester] WHAT CANNOT BE IGNORED IS THE IRAQI INTENTION TO REMOVE THE 3 ZEROS... IT IS IN PRINT...AND POO-POOING IT AWAY IS NOT GOING TO BE IN ANYONE’S BEST INTEREST...
[oucrazy] Jester. . . so the explanation offered that removing the 3 zeros means that those larger notes will be removed from circulation is bogus, in your opinion?
[Pilgrim] Jester HOW DO YOU THINK THAT WILL PLAY OUT???????
[MotoXR] Does removing the three zeros led us to a float to one day go back to the rate they once had or around?
[Hannah] Jester So if a person for example had 5,000,000 dinar. At exchange, lets say $3, the exchanger would get $15,000 ... right?
[Jester] I POSTED A COUPLE MONTHS AGO ABOUT THAT... AND YOU HAVE TO REMEMBER WHAT THE DEAL WAS... A CONVERSION TO IQN AT A SPECIFIC RATE AT THE SAME TIME YOU DROP THE ZEROS...
[Jester] LET'S SEE... I WILL PUT THE EQUATION IN HERE AGAIN...
[Jester] IF I CAN REMEMBER IT... HAHAHA
[Jester] OK.. HMMM.... 1,000,000 IQD = $1,100 USD RIGHT? (CLOSE ENOUGH ANYWAY)
[Jester] AND FROM WHAT WE THINK THEN 1 IQN = 1,000 IQD RIGHT?
[Jester] AND IF TNT TONY IS CORRECT AND 1 IQN = 36 USD.... THEN WE CAN CALCULATE...
[mbj] so 1,000,000 iqd would equal 36,000 iqn
[jbmeans] Jester,that's about what we paid for it then
[Jester] jbmeans NOPE... YOU WILL GET $3600 BACK FOR EVERY $1000 YOU SPENT IN THIS SCENARIO...
[Jester] BUT HEY... IT IS ALL SPECULATION... I WAS JUST THROWING OUT SOME POSSIBILITIES...
[Jester] WE HAD THIS DISCUSSION MONTHS AGO...
[tessamae] I hope for once that you are wrong!
[Jester] tessamae I SAID... READ MY LIPS... IT IS SPECULATION... A WHAT IF THAT SOMEONE ASKED A QUESTION ABOUT... DO NOT GET YOUR PANTIES IN A WAD A WEIRD OUT...
[ljp] so you would gain 2600 approx for every 1000 spent
[Jester] ljp NO YOU WOULD GET THE INITIAL $1000 BACK TOO...
[alfonse] LuckyB No, 3600 for every 1 million IQD
[LuckyB] alfonce ..thats just enough to make a man want to drink
[Jester] LuckyB YOU HAVE NOT BEEN DRINKING ALL ALONG? HAHAHAHAHA
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