From: Paul Zarembka (zarembka@BUFFALO.EDU)
Date: Fri Dec 05 2003 - 08:58:56 EST
--On Friday, December 05, 2003 3:43 AM -0500 gerald_a_levy <gerald_a_levy@MSN.COM> wrote: > For some >| 30 years, the President himself held the power to issue silver >| certificates. But some 5 months before his assassination, Kennedy >| delegated this power to Dillon, and Dillon could do as he pleased with >| this power. To assert that Kennedy was by Executive Order No. 11110 >| getting ready to issue silver certificates is contrary to the plain >| facts. Instead, Kennedy was surrendering this power and delegating it to >| the Treasury Secretary, who then (and as always) has been someone from >| the banking industry. There is no substance to this theory on the Net. Thanks, Jerry, for this. Assuming the whole report is accurate, I don't think the conclusion that Kennedy "surrendered" a President power is a correct interpretation. The appt. of Treasury Sec. is a Presidential appt. More accurate would be to say he "delegated" a power, a delegation itself a President could withdraw. Still, I have to ask what is going on here. What is it with the Treasurer issuing $ in 'competition' with the Fed? This doesn't seem at all trivial. And I cannot remember the last time I saw a Treasury $ bill. Thus, during what period did we see the issuation of new Treasury $ bills? Paul *********************************************************************** RESEARCH IN POLITICAL ECONOMY, Paul Zarembka, editor, Elsevier Science ******************** http://ourworld.compuserve.com/homepages/PZarembka
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