The American Empire in a Changing World


Monday, December 17, 2012

''LBJ and the Destruction of American Currency''

From American Thinker

''Just two months after Kennedy's assassination, in his first economic report to Congress, Johnson recommended that America "expedite the release of silver from the coinage."  Johnson discontinued the issuance of silver certificates in 1964, and the process of retiring the outstanding certificates began.  As if that were not damaging enough, Johnson followed with his second major monetary reform in 1965, claiming that "the growing shortage of silver" had to be addressed.

On July 23, Johnson signed the Coinage Act of 1965, smashing the founders' Coinage Act of 1792.  Whereas our Founders instituted the death penalty for debasing the currency of American citizens, Johnson arrogantly justified his move in the name of potential "coin shortages."

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