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[Posted June 17, 2006]

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

Srila Prabhupada

gold coin v. - 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.

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Excerpt from conversation with disciple Hari-sauri, Toronto, June 17, 1976

No question of value

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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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