But another side is the money is gradually losing its purchasing value.
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[Posted April 17, 2006]

Dog's Race

Talks on Nationalism and Economy

by His Divine Grace A.C. Bhaktivedanta Swami Prabhupada

Founder-Acharya of the world-wide Hare Krishna Movement, Brahma Sampradaya Acharya

Srila Prabhupada

Conversation with Ratan Singh Rajda M.P. and disciples,  April 15, 1977, Bombay

[News headlines for April 17, 2006: OIL $70, GOLD $606, SILVER $13! What is the real value of the dollar?]

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Prabhupada: So we have to touch all these. Then poverty... And "Drive away poverty. Give them more money." More money means cheating. You are employing; I am employed. Begins from government. More money and printing, they are coming. If I have got power to print paper and distribute it as money, you are dissatisfied, getting hundred rupees, you want two hundred, so what is to me? I print and give you. This is artificial inflation.

Tamal Krsna: More money means printing more bills.

Prabhupada: Yes.

Tamal Krsna: Yeah, but you haven't increased the...

Prabhupada: And your enemy country, they're actually happy. They print exactly money like this. They come and purchase goods and give you fortune, anybody. I know. Then what is the difficulty? Suppose this American dollar, is it very difficult to print? So the Chinese, they are America's enemy, they can print, bring millions of dollars and purchase from your country and export to his country and give you some paper. You are... What you can do?

Tamal Krsna: Well, we can only hope that we'll catch them. We hope that we'll catch them.

Prabhupada: That is another thing, "when we catch." Who will catch? "Bell the cat." It is going on. I know. During wartime, one Chinese man was coming from China, and one business friend, he was appointed his purchasing agent. He was giving a list of goods to purchase. And this man, whatever money he'll charge, he'll immediately - Indian currency. He'll not say, "Why so much price?" No. Then he will pack up the goods and through some channel he'll dispatch it. That is also through our way, not in the... The China is in on the border. There also, if you pay money, smuggler's rate... They try to do.

Tamal Krsna: That seems to be a big issue now, these smugglers. I notice in the newspapers every day.

Prabhupada: The smugglers get with money, printed money. Who can check it?

Tamal Krsna: So printed money should have gold behind it.

Prabhupada: Yes, that is the theory. What is the rate of economy?

Tamal Krsna: What is the idea...

Prabhupada: That is called...

Tamal Krsna: Gold standard.

Prabhupada: Not gold standard, but there is a technical name. That means if you print notes, currency note, immediately you have to keep stock of gold in the reserve bank. Reserve. Therefore it is called...

Tamal Krsna: The gold reserves.

Prabhupada: Gold reserve. Gold reserve, yes. At least forty percent.

Tamal Krsna: What's the idea behind that?

Prabhupada: What is that? The idea is cheating. The cheating business begins from the government. And why people will not learn to cheat? This is cheating. I am giving you one paper, one hundred rupees, dollars, and you are happy: "I have got so many ..." I am giving you check, ten thousand dollars. You got ten thousand dollars. Now I give you a paper. But it is going on. We have made machinery in such a way that it will go on in hundred rupees or ten thousand rupees. Just like this fixed deposit. I am giving actual money; they are giving a receipt. And it will increase. What increase? The same paper. And gradually inflation is going on. They'll pay at the inflation rate.

Tamal Krsna: Well, they say they're paying at the investment rate.

Prabhupada: That is, mean, their plea. Really, today... Just like in our childhood my father had three hundred rupees, and that three hundred rupees is now ten thousand. So if my father would have deposited three hundred rupees at that time, automatically he has become ten thousand... So if you pay me instead of three hundred, say, six hundred or eight hundred, what is your loss? It has already become ten thousand.

Tamal Krsna: Well, it's practical also, because supposing I have a cow...

Prabhupada: But it may be... This cheating is going on.

Tamal Krsna: But is it... What I'm asking is this: Supposing you have a cow, and you give to me a cow, so from that cow I get from you...

Prabhupada: That I understand, that in twenty years you get another..., same money. That is another. But another side is the money is gradually losing its purchasing value.

Tamal Krsna: That's a fact. That's a fact.

Prabhupada: My father with three hundred rupees, he was... What he was doing? If you want to do that thing now, you'll require ten thousand.

Tamal Krsna: That means some cheating is going on.

Prabhupada: Yes.

Tamal Krsna: Government, through the government.

Prabhupada: Somewhere or other. Things are there. The rice are there, the dal is there, the cloth is there, but what he purchased at three hundred rupees, now you have to pay ten thousand.

Tamal Krsna: That means they've introduced more and more notes without any gold in their banks. Very dangerous.

Prabhupada: Yes.

Tamal Krsna: Cheating. That's cheating.

Prabhupada: Yes.

Tamal Krsna: What is the implication of this cheating? What are the ramifications, the results?

Prabhupada: Result is that as we say always, that conditioned soul has a tendency to cheat. So they are utilizing this conditional qualification.

Tamal Krsna: With which result?

Prabhupada: Result is nothing. Therefore we say it is dogs' race, imagination that "We are becoming happy." He's becoming implicated in karma, cheating karma, and losing the opportunity of human life. Instead of applying his energy and intelligence how to become Krishna conscious and get out of this, he is becoming expert in cheating and suffering. Then you become mouse. Unless you cheat, you cannot eat even.

Tamal Krsna: So the leaders of government, they are encouraging like that. Instead of encouraging honesty and work according to the varnas, chatur-varnyam, they are doing like this to become...

Prabhupada: There is no honesty all over the world. It is a forgotten. "These are primitive," they say, "Now, the honesty, to become pious, to become religious. These are simply primitive idea." We have to open this. That is a specific subject matter of that... But we have to write very nicely. Everything is based on tatha dehantara-praptih [Bhagavad-gita 2.13].

dehino 'smin yatha dehe/ kaumaram yauvanam jara/ tatha dehantara-praptir/ dhiras tatra na muhyati: "As the embodied soul continually passes, in this body, from boyhood to youth to old age, the soul similarly passes into another body at death. The self-realized soul is not bewildered by such a change." (Bhagavad-gita 2.13)

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