So many times I have heard people speaking about Kennedy founding his own dollars and an attempt to shut down private federal bank. What happened and why?
John Kennedy issued Executive Order 11110 allowing the Treasury to print silver-backed dollars in limited amounts--that part is true. But Kennedy only issued this order after having supported and signed legislation transferring the power to print low-valued bills from the Treasury to the Federal Reserve. The executive order that he issued allowed the Treasury limited power to bypass the bill so that it could continue to print money during the transition period (i.e., while the Federal Reserve prepared to take over those responsibilities). In fact, Kennedy signed the new bill and issued the executive order on the same day, leaving no doubt about the purpose of the order. It's very odd that someone would cite the executive order as an example of Kennedy trying to fight the Federal Reserve when the bill that he signed on the same day that transferred more power to the Federal Reserve Congress had drafted at his request.