[Posted December 2, 2009]

No Atheists in Foxholes, and now it's "In Gold We Trust"

A.C. Bhaktivedanta Swami

That investors are flocking to gold proves what real money is and what paper money isn't

Financial Times Dec 2, 2009 - JAMIE CHISHOLM

Gold soars past $1,200 to new record high

Gold jumped to a new peak of $1,216.75 an ounce, taking its gains for the year to 41 per cent. It was later up 1.3 per cent at $1,212.90, despite receiving little help from the dollar. go to story

Related:

Investors Buy Gold As Central Banks on Course to Crash World Economy

Market Oracle - Nov 26, 2009 BOB CHAPMAN ...The result will be gold at $2,500 by the end of 2010, and perhaps much sooner. The buyers know what we know. Real inflation since 1980 dictates $6,700 to $7,200 gold. Even official inflation demands a $2,400 price. In both instances how much inflation will 2010 bring?

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If you don't speak up and call for an end to the cheating...

The cheating goes on as long as you accept to be cheated A.C. Bhaktivedanta Swami

Actually it is not money. You are befooled. You are such a fool that you accept a piece of paper as money. Therefore I say you are rascal. That is my business. If I say "Government, give me gold," and government has passed law, "No, you cannot possess gold," that means cheating. How I shall keep gold, that is my business. First of all you give me gold. It is due to me. But you are giving me paper. That means cheating is begun from you. more

Why do we keep hammering this issue? Because Krishna consciousness entails becoming conscious, aware, awake to everything – to Krishna, to yourself, to the illusory nature of this material existence and to the necessity of extricating ourselves from it. Srila Prabhupada has explained that the science of Krishna consciousness is not exclusive; rather, it is all-inclusive, touching all aspects of life, from the most mundane to the highest spiritual truths, and socio-economic concerns are not excepted; a prosperous and peaceful society can more readily progress on the spiritual path.

Gold as the standard

excerpt from conversation, Los Angeles, December 31, 1973

PRABHUPADA: That is cheating. Therefore I say cheating. I have no money. I give you simply paper. I promise to pay hundred dollars. What is the use of that promise if I have no money? But you want to be cheated. I cheat you. That's all. You are satisfied of being cheated by me; so I take the advantage and I cheat you. I give you a paper. That's all.

BAHULASVA: Real money is gold and silver.

PRABHUPADA: Any... It must be value. According to the market price, it must be value. Whatever it may be. Gold is taken, because gold is the most valuable metal. A small piece of gold, it can carry two hundred dollars. But if I give you iron, then you have to bring another, what is called, bus, to carry it. [laughter] So therefore gold standard is accepted everywhere. There is a standard price of gold, so when I pay you money, it must be, carry the value in gold. That's all. Then there is no inflation. The people want to be cheated, and people cheat. That's all.

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