[Posted November 5, 2009]

Counterfeit and Inflated Money

Hansadutta das

Running for cover

BBC News Nov 4, 2009 -

Gold hits new high on India deal

The price of gold has touched an all-time high after a large sale of the precious commodity by the International Monetary Fund (IMF) to India.

Gold struck a high of $1,097.25 an ounce, against $1,084.50 late on Tuesday.

Buyers moved in after the IMF decision to sell 200 tonnes of gold to India's central bank.

Gold and other commodity prices have surged recently as investors have moved away from the US dollar.

The sale to India was nearly half the 403.3 tonnes of gold the IMF has targeted for sale over the coming years.

"The question now is, who buys the rest of the IMF gold?" Bart Melek at BMO Capital Markets said in a note to clients. go to story

The Bhaktivedantas World Sankirtan Party and Inside Nam Hatta are hosted by Hansadutta das, a senior disciple of Srila Prabhupada and trustee of The Bhaktivedanta Book Trust. Participate or learn more about World Sankirtan Party.

Paper the medium; gold the substance

Vote of No Confidence A.C. Bhaktivedanta Swami

Formerly in the currency, when you go to take some exchange, it was the etiquette of the teller to ask you, "What you want, silver money, gold money or paper money?" It was their duty. If you say "I want gold money," they will pay in gold money. Not only it is written in the paper, "I promise to pay," but the promise was kept. If he wants, "Give me payment in gold," they will pay. more

Safe backup

Prabhupada's solution to inflation (printing paper money without gold and silver reserves) is to have only gold and silver currencies and allow gold and silver as ornaments for jewelry. No paper, no cheques; only metals of gold and silver.

The most ruinous practice to the government and the economy is COUNTERFEIT and INFLATED MONEY. Both are a way of CHEATING. BOTH ARE WITHOUT AUTHORITY, because both have no gold backing. Counterfeit money is printed without authorization of the government, therefore worthless, and inflated money is printed by the government but does not have any actual gold reserves to back it up. Therefore it is also worthless.

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