[Posted
July 10, 2010]You can't eat paper currency
Do red currency bills taste different from green?
Guardian July 7, 2010
- JILL TREANOR
Breakup of single currency would blight Europe, says Dutch bank Ing
The 16 countries that ditched their own currencies a little over a decade earlier have dusted down the printing presses to try to introduce new domestic notes again. They are doing battle with a crisis that dwarfs the one caused by collapse of Lehman Brothers in 2008.
While Spain and Portugal are grappling with near double-digit inflation, Germany and other core countries are gripped with a deflationary shock, one that has also begun to infect the US which is flirting with a full blown recession. In Britain, the economy is struggling with a double-dip recession inflicted by the euro crisis. With share prices falling and house prices plummeting, governments are facing the prospects of bailing out banks that have been crippled by bad debts caused by corporate defaults. go to story
Zero Hedge July 7, 2010 - BRUCE KRASTING
Red Money - (Conspiracy Theory #11)
It goes like this. One morning we wake up and the Treasury has made an announcement that it is going to convert all US currency from green to red. The process will commence immediately and continue for a period not to exceed four months. Very few would be impacted. If you had money in a bank, money fund or brokerage account it would make no difference. If you had some green cash you would either spend it or deposit it into your account. It would not influence the value of the holdings of foreign reserves. That is all “electronic” money. Red money would only impact cash money. go to story
Awash in bad money
Restoring Honest Money A.C. Bhaktivedanta Swami
Money is not required. You require things. Just like instead of money, you are getting papers. Money means gold. Where is gold? You are cheated. Money means gold. So instead of possessing gold, you are possessing some paper, written there, "hundred dollars." And you are such a fool, you are satisfied. You are being cheated. Bank's check and currency notes, you keep it in your..., "Oh, here is my money." Is that money? Just see. more
Money is not required. You require things. Just like instead of money, you are getting papers. Money means gold. Where is gold? You are cheated. Money means gold. So instead of possessing gold, you are possessing some paper, written there, "hundred dollars." And you are such a fool, you are satisfied. You are being cheated. Bank's check and currency notes, you keep it in your..., "Oh, here is my money." Is that money? Just see. more
Spend money on land, produce food
excerpt from conversation, Hyderabad, August 19, 1976
...As soon as you keep money in the bank it will decrease the value. This is... Money is decreased, value of all over the world. Because it is not money actually; it is paper, cheating. Real money is gold. But they will now allow to keep the gold. The whole policy is vicious. If I purchase gold with five lakhs of rupees, then it is real money, and after five years I can sell it ten lakhs. That they will not allow. Therefore I... My policy is that whatever money is there, spend. Don't keep. In land and produce food. That is the best use of it.