Claim: John F. Kennedy signed executive order 11110 that would have put the Federal Reserve Federal Reserve out of business; and was subsequently assassinated
Though there are elements of truth, the general conclusion is false
True … Kennedy was assassinated (contrary to rumors of him living in Argentina with Hitler and [[Elvis Presley]])
True… that Kennedy signed Executive Order 11110 which delegated authority to the Treasury Secretary to print silver certificates at will (ref: [http://en.wikipedia.org/wiki/Executive_order_11110] ).
False … that this would put the Federal Reserve out of business.
One only needs to examine the claims in detail to realize how silly the theory is.
Given all the Fed duties and responsibilities, to claim that issuing silver certificates would nullify all the Fed duties is preposterous. Ever since it's inception, the Federal Reserve has worked with whatever the currency of the realm. Federal Reserve notes circulated along side silver certificates, gold certificates, and coins. From a day-to-day operations side, it really makes no difference. History showed that the government was trying to get away from the silver standard. Silver prices were rising to the point where a silver dollar would have more than a dollars worth of silver. This executive order was seen as giving the Treasury Secretary more flexibility to do that.
There was not enough silver to replace all the currency in circulation with silver certificates.
Kennedy scholars have concluded it is a hoax.