[Posted Oct 6, 2008]

Vote of No Confidence

A.C. Bhaktivedanta Swami

The market place has spoken

Breitbart Oct 2, 2008 - JENNIFER BOGO

Panic engulfs global stock markets

World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.

London, Frankfurt and Paris all tumbled more than six percent approaching the half-way mark while a 15-percent dive in Moscow forced a halt to Russian trading.

Investors dumped shares after US stock markets had fallen sharply on Friday, despite US congressional approval of a 700-billion-dollar bank bailout.

On Monday, Tokyo ended down 4.25 percent as Hong Kong's stock market shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai was down 5.58 percent in late afternoon trade.

European stocks plummeted after Germany's fourth biggest bank had to be rescued over the weekend -- news that pushed the euro to a 13-month low against the dollar on Monday.

Crude oil futures tumbled to eight-month lows below 90 dollars a barrel in London and New York as worsening financial turmoil triggered fears about slowing demand for energy.

The Saudi stock market, the largest in the Arab world, shed 9.6 percent at the opening on Monday after a week-long holiday, and shares in other energy-rich Gulf states also slumped.

Underscoring the worsening conditions in the United States, the world's largest economy, 159,000 US jobs were lost in September, according to government figures published Friday. go to story

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"In Government We Trust"?

Messin W' De Tar Baby A.C. Bhaktivedanta Swami

In the schools, colleges, you are forbidding, "Don't talk of God," and on the bills you are writing, "In God We Trust." That means if the bill is not paid, don't be dissatisfied, you trust in God. [laughs] Although I'm giving you a piece of paper, don't hesitate to take it. Trust in God, it will be paid. They write, "I promise to pay," but people may not have faith in this word. Actually, I'm paying you hundred rupees—or a thousand rupees-worth currency note, but actually it is paper. But only on faith and trust I'm accepting it, it is one thousand dollars. That much. In last war, the German Mark notes were thrown in the street. And the bunch of notes, taken to the confectioner—"Give me a piece of bread"—but "There is no bread"; they throw away. It happened, actually. So these notes are accepted on the understanding that the government will pay. But time may be there when government may be not able to pay. And it has become practically experienced in the last war. more

Legalized cheating

excerpt from conversation, New Vrindaban, June 28, 1976

PRABHUPADA: There is a... I think, Gresham's theory: "Bad money drives away good money." You know this? This is an economic theory. "Bad money drives away good money." Because nowadays bad money, that paper money, is going on, that gold coins no more in existence. Formerly we have seen gold coins in our childhood. You have not seen any. We have seen.

PUSTA KRSNA: Collector's items.

PRABHUPADA: Huh?

PUSTA KRSNA: Collector's items.

PRABHUPADA: Collector's?

PUSTA KRSNA: Only someone may have one just as a collection. You can't get them.

PRABHUPADA: 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. And now, to keep gold, hoarding gold, is illegal. So you cannot ask. This is going on, legalized cheating. You have to accept this paper money. That's all. Don't ask for gold. And there is no honesty at all. I can take paper money for my convenience sake, but how you can force me to take paper money? That is not honesty. So dishonesty begins from the government. You cannot keep gold. If you have kept gold, there will be searching, and if it is found that you have gold, you'll be punished. In India it is now being done. There is no freedom even at your home, in your private life. Formerly, any common man could keep gold according to his desire. There was no such thing. Sometimes he would hide it even within the ground, because there was no bank. At least in India this was the practice. If you have got some gold, you keep it somewhere confidential within the ground so that it may not be stolen. So everyone should have right to keep his money as he likes. Why government should interfere? Therefore you see the Bhagavatam says, rajanya-dasyu-dharmah. The government men will be like rogues and thieves. By law they will take away. It is now going on in India. I think here it is also? You cannot keep gold. Why I cannot keep gold? If I have secured gold, I can keep it. I want gold. You write, "I promise to pay," so there must be gold coins. I must have.

So many difficulties will come in the kingdom of maya gradually. It is already come. The eight items... What are those items?

PUSTA KRSNA: In the Twelfth Canto?

PRABHUPADA: Duration of life, mercifulness...

PUSTA KRSNA: [Reads:] Prayenalpayushah sabhya kalav asmin yuge janah mandah sumanda-matayo.. [Srimad-Bhagavatam 1.1.10].

PRABHUPADA: No, no, that is not it.

RADHAVALLABHA: Symptoms of the age of Kali?

PRABHUPADA: Yes.

PUSTA KRSNA: Duration of life is decreased. If one is twenty years old, he will be a grand old man.

PRABHUPADA: Hm. That is coming.

PUSTA KRSNA: Bodily strength decreases. Then smriti, intelligence...

PRABHUPADA: Yes.

PUSTA KRSNA: Memory is decreasing.

PRABHUPADA: Daya, dharma, religious principles—everything will be reduced. And the government men, instead of giving you protection, they will act like thieves and rogues. You cannot say anything. Very, very precarious condition, all freedom lost.

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