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Kill Inflation: insist on gold!
by His Divine Grace A.C. Bhaktivedanta Swami Prabhupada
Founder-Acharya of the world-wide Hare Krishna Movement, Brahma Sampradaya Acharya
www.gold-eagle.com
- June 14, 2006 - TODD STEIN & STEVEN McINTYRE: THE TEXAS HEDGE
REPORT
Congressman Discusses P.P.T. and Gold
[Interviewer:] Anecdotal evidence and common sense dictate that
government CPI statistics are habitually grossly understated - so much
that it would be funny except that savers are being robbed. Meanwhile,
our new Fed chairman says that the CPI overstates inflation! What is
going on here? Is Bernanke, who evidently must not eat, drive or pay
electric bills just incompetent? Or do you think there is an Orwellian
agenda here where statistics are manipulated for political purposes?
[Congressman Ron Paul of Texas:] The latter. They are manipulated for
political purposes and they've been so for many decades. This came up
on numerous occasions with Greenspan when he was before the committee -
I would point this out and I've already done this with Bernanke and
they just refuse to answer and they will not acknowledge it. But I tell
them and I repeat it because it's true that there is nobody in my
district that believes that the inflation rate is 2% and most of them
know darn well that their money is losing value a lot faster.
Excerpt
from conversation with disciple Hari-sauri,
Toronto, June 17, 1976
No
question of value
Hari-sauri: The thing that came up when we
were into doing the political thing a little bit, they were asking...,
one of the major issues always in political battles is how would you
control inflation, how would you solve the inflation problem?
Prabhupada: Inflation
problem, I suggested, make gold coins as medium of exchange.
Hari-sauri: That means that
there'll be the same..., it'll have the same value all over the world.
Prabhupada: No question of
value. Money has to be paid by real money-gold, silver. No paper.
Hari-sauri: But whether it's
gold or paper, isn't it all just representative of...
Prabhupada: No, medium of
exchange.
Hari-sauri: Yes.
Prabhupada: If I have to pay
you, if you don't accept paper, then I'll have to give you gold or
silver, and international exchange is going on. Then there is no
inflation, because you'll not accept paper, so what is the use of
printing notes? They are printing notes without any gold reserve.
Hari-sauri: Nothing. It's
just imaginary wealth.
Prabhupada: That's it. Bank
will give you loan, they are eager to give you loan, and you haven't
got to pay anything in gold and silver. One cheque, that's all. And
with that cheque you can purchase lots of commodities and hoard it, and
price will be increased. If I have to pay gold for [indistinct], then I
have limited source. The price will not increase. This is the only way.
Introduce gold only, gold and silver. In the British period in our
childhood there was practically no notes. Silver. If I have to take
payment from you, one thousand rupees, you will give me so much silver.
For counting, counting, I have to see whether it is.... There were some
imitation, counterfeit. So each coin you have to see, they were saying
like that, that, "For thousand rupees I have to occupy so much space."
Hari-sauri: And weighed so
much.
Prabhupada: Yes, and weight
was so much. (pause) The time was not so bad. If you take some cash,
thousand, two thousand rupees with you, you can safely walk on the
street. Now if somebody knows that he has got thousand rupees cash with
him, maybe he will be killed. The bank, they are so much afraid, they
keep police in bank, police guard, always.
Kill Inflation: insist on gold!/ WORLD SANKIRTAN PARTY ©2004 - Hansadutta das
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