[Posted April 22, 2008]

Extinct Species: the petrodollar

A.C. Bhaktivedanta Swami

But the Fed is gonna print save the dollar...?

Price of oil per barrel in gold vs US dollar and Euro. Go to image source.

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Ink on paper

That's not money; it's paper A.C. Bhaktivedanta Swami

PRABHUPADA: You should introduce coin, real money.

HARI-SAURI: Real gold coins. No paper.

PRABHUPADA: Anyone has got money... It is fact. And what is this nonsense, keeping some paper and thinking he has got money? How cheating it is going on, from government's side. And therefore artificial inflation. You can print, so the price is increased. Because you haven't got to pay him real money, you print and pay him, and he will ask, "Give me this money. Then I'll supply." "All right, take." You print and pay. more

Just a bunch of paper

excerpt from interview with New York Times reporter, New Vrindaban, September 2, 1972

If one gets a diamond, he possesses something valuable. But in this civilization you are simply making plastic plates and plastic cups. Indeed, in Japan I have seen pasteboard homes. And everyone is thinking that he is advanced. Formerly people used to have golden and silver utensils, but now they have plastic ones, and still they are very proud to be so materially advanced. What is your position? You have a bunch of paper and think, "I am a millionaire." What is the value of that paper? Is that not cheating? However, if we possess gold or diamonds worth a million dollars, that is actual wealth. But we are educated in such a way that we think we are millionaires by paper only. As soon as there is some catastrophe, millions of such dollars could not buy bread. This actually happened in Germany; millions of marks could not purchase one piece of bread. All this is going on in the name of advancement of civilization, and the real purpose of life, God consciousness, is missing. So every thoughtful man should come forward to understand this movement and take it seriously. Why are the people being misled? We just have to try to understand this philosophy, the basic principles of God consciousness.

Sri Guru and Gauranga