At some point, it will become apparent that American money also does not have any value.
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© 2004 - Hansadutta das

It's Just Paper

by Hansadutta das


[Posted Sunday, 11 December 2005]

Silver Stock Report, Thursday, December 8, 2005--Central Banks Now Buying Gold

...I saw Kudlow on CNBC this afternoon, who was mystified by the rise in the gold price. He asked a woman on the show, "Would you be selling gold now?" She responded, "Yes, I would be selling gold now... but I don't have any gold to sell." Classic! Kudlow concluded that with the new computer age, and with free trade, both pushing down wages and consumer prices, that he couldn't see inflation like we had under Jimmy Carter. What Kudlow fails to realize is that inflation is not rising wages and consumer prices. Inflation is the creation of unbacked paper money, which has happened in the past that is fraud that will be revealed. ...


BY Jason Hommel

The news of Russian central bank gold buying is getting more press. Either the Russian buying, or the news of the Russians buying, is likely responsible for the recent run up in gold prices.

Analysis: The Russians have $165 billion in their central bank reserves. 500 tonnes x 32,152 oz/tonne = 16,076,000 oz. That's 16 million oz. At $524/oz., 500 tonnes will be worth $8,423,824,000 That's $8.4 billion dollars. That's not much money, and it's a lot of gold! The Russians are only planning on putting 5% of their central bank reserves into gold. Why is this such a big deal? The world has lots of dollars & not much gold. Five hundred tonnes is huge in the gold world. World mine supply is a mere 2500 tonnes annually. Total gold mined in all of human history is a mere 150,000 tonnes. Source: gold.org


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Hansadutta: I think the real problem in the world's financial structure is that money has no gold backing. It's just paper.

Gerand: No real value.

Hansadutta: No real value. There's no standard.

Gerand: Speculation.

Hansadutta: It's just paper.

Gerand: Everyone is getting it—

Hansadutta: Formerly the American dollar was backed by gold, so the whole world related to it and aligned itself with the gold-backed dollar. You could take Chinese money and Japanese money, because it was always related to the dollar. But I think in 1974 they took the dollar off the gold standard, because America was financially barely secure. But all the currencies continued to relate to the dollar. So now what's happening in the money market ventures, gradually it becomes apparent that the money has no value. Like in Thailand, in Indonesia. At some point, it will become apparent that American money also does not have any value.

Gerand: Property and share market influence the currency value very much.

Hansadutta: Yes.

Gerand: Property. Formerly it was $100,000. Now it's $2 million. The same property.

Hansadutta: Right.

Gerand: Share is also like that. A piece of paper.

Hansadutta: Right.

Gerand: Formerly it was 40 cents. Now it may be six dollars, seven dollars. Speculation.

Hansadutta: Right, all inflated.

Gerand: Every country's government and bankers ask people to give them money to gamble—unit trust, something like that.

Hansadutta: Invest. They call it investment, but actually it is gambling.

Gerand: They don't have enough money, sufficient money to gamble, and they ask people to buy their trust or something like that.

Hansadutta: Right. The whole situation is very, very dangerous. Like Intel lost 10 percent in one day. Ten percent. Their stock went down in one day. Then everyone becomes... you see, formerly... I remember, because for years I always kept up with the stock market, and now the swings are so extreme from one day to the next. People used to invest on a long term basis, but now they invest just for one day, two days to see what will happen.

Gerand: Few hours!

Hansadutta: Few hours! [laughing] The stock market goes up and down, and it doesn't make any difference.

Gerand: Basic requirements, huh?

Hansadutta: Yes, you need food. Everyone needs food, clothing and shelter. Other things are artificial. You don't need them. How many people in Singapore are producing food?

Gerand: None.

Hansadutta: None. [laughing] So when things come back to the necessity, then this situation will be very bad. Here we are. Hare Krishna. [break]

...feel enslaved. They'll feel, "We're being exploited."

Gerand: In China the situation is not too bad. Usually... one family has five brothers. Then maybe two of them go out to the city and ask the other three to look after the land.

Hansadutta: Right. But next generation...

Gerand: They don't abandon their farm.

Hansadutta: No, I know. But gradually, the balance will be such... and that's the problem—

Gerand: No, the Chinese government controls. They don't want to open all the cities. Only a very limited number of cities are open to foreigners or open to free economic system.

Hansadutta: Right. Well, that's because it's just the beginning.

Gerand: Because the government of China also believes if many people go to the city and work, then all Chinese people will be starving.

Hansadutta: Right.

Gerand: Who can provide food? Nobody.

Hansadutta: This is precisely the problem. This government has a certain policy. But government leaders change. And government leaders change government policy. And the more they become divorced from the Krishna conscious idea, the more they become greedy for material economic development. Like in America, about two percent of the population produces food. Everyone else is doing industry. And everything becomes calculated in terms of money. So how to produce the most for the least. And of course they introduce things which are very harmful to the land, to the soil, to the crops and eventually to the health of the people who eat the food.

Gerand: They call it productivity.

Hansadutta: Everything which is divorced from this... every undertaking which is divorced from helping us go back to Godhead is harmful, whether we can see it or not. But it is harmful. Just like cigarette smoking. After 40 years, they realise... they have finally brought it to the public that cigarettes cause cancer. It's a colossal industry, which makes a tremendous amount of money not only for the tobacco growers, but for the government also, because they tax the cigarettes.

Gerand: A huge amount of money.

Hansadutta: Huge! So everyday you read in the newspaper how the tobacco industry is being taken to the courts in colossal lawsuits. They're trying to get protection by offering a deal to the government—300 billion dollars to pay for medical costs. But you know, now it's too late. So everything is like that. The whole ecological food chain has been polluted. People are drinking alcohol from an early age, and smoking cigarettes, and indulging in illicit sex and eating food which is contaminated with so many chemical additives, eating meat. The animals are sick with all kinds of disease. All these reactionary forces of nature are building up. Like in England, they had the mad cow disease, so they killed millions of cows. In China the chickens...

Gerand: Bird flu in Hong Kong.


It's Just Paper/ WORLD SANKIRTAN PARTY
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