President John F. Kennedy signed Executive Order 11110 on June 4th, 1963. This order authorized the Treasury to issue a new government currency, the US Note, based on silver in Fort Knox, recycled from the huge magnets used in early Uranium enrichment at Oak Ridge. This allowed the Kennedy administration to purchase four billion dollars worth of goods and services without having to borrow the money from the Federal Reserve, and signaled Kennedy's intention to restore the nations' economic system to the model used by the Founding Fathers.
THE END OF SILVER MONEY
The following year, all silver coins and silver certificates were withdrawn from circulation. The media proclaimed the new clad coinage and the Federal Reserve Notes to be just as good as the silver money, and the entrapment of the American people was complete. From then on, all currency in circulation was worth what the private central bank said it was worth, and over time, it has been declared worth less and less. Just see how many "dollar" notes it takes to buy an original US Silver Dollar today...