RAAM – The New Global Currency?

Quiet Honestly, I was surprised to see the currency named RAAM. If I were trying to solve a global problem, I would have tried to keep religion out of it. As it is, Religion seems to be one of the most common reason for terror and fights in this world. The eternal question of who is greater – Your God or My God?

But, then yeah. It is amusing to read that its so easy to introduce a currency and keep it in circulation. I thought the currency value of a country was dependent on the amount of Gold and other resources the country. Else, why cant we solve all of India’s problem by just printing out millions of currency notes and distributing them among the people. Once everyone has quiet an amount of money, then the country is a developed country. I thought it simply didn’t work that way. Now, reading that stores in netherland are already accepting the RAAM, I am thinking!!!! Hmmmm…..

On a side note… I really wonder if all the so called “terrorists” supposedly fighting in the name of religion would continue doing that if they were all given a lot of money by the government itself!!!

Stupid Idea. I know. But still amusing. 😀 . Now read the story about RAAM and the ideology behind it.The value of 1 RAAM is said to be Rs. 582.86 (INR) or $13.36 (USD). Now, thats quiet a value for a currency thats been created out of thin air. I really wonder what would have been the thought process behind reaching the 10 euro value? Why couldn’t it have been 100 euros? I mean, anyway you are painting in the air. Why cant you paint a castle instead of a cottage?

A new “currency” issued by a group founded by Beatles guru Maharishi Mahesh Yogi may be used and has not violated Dutch law, the Dutch central bank has said.The Global Country of World Peace, set up by the Indian mystic, issued the brightly coloured notes of one, five and 10 “raam” last October. Since then, more than 100 Dutch shops, some of them part of big department store chains, in 30 villages and cities have accepted the notes.

A spokesman for the Dutch Central Bank told BBC News Online the bank was keeping a close eye on the raam, although he added that the Maharishi movement had done everything according to the law.

“The raam can be used as long as the notes are not used as legal tender and it stays within a closed-off circuit of users,” he said.”The raam is a key element… to promote a balanced world economy, reduce poverty and create world peace” – Benjamin Feldman, ‘Minister of Finance’ of the Maharishi movement

Raam roll-out
The raam is also circulating as the currency of Maharishi Vedic City in the US state of Iowa together with the US dollar, while raam-based bonds are being offered in 35 American states. Benjamin Feldman, ‘Minister of Finance’ of the Maharishi movement, told BBC News Online the raam could be used to battle poverty and create world peace.

“We have a lot of clients in the movement – but so far, only one person has actually paid with [raams]” – Dutch shopkeeper

He said governments could use the raam to start up agricultural and other development projects around the world. “There are 1.5 billion people living in extreme poverty and currencies like the US dollar are not available to most of them. The raam can be used to build new houses, roads, schools and health clinics,” Mr Feldman said. And after a few good crop seasons, and with export of produce, the raam could then be exchanged for any other, hard, currency or even taken out of circulation, Mr Feldman argued.

He added the raam was introduced in a relatively rich nation like the Netherlands, “because developing countries can use that as an inspiration.” The movement plans a roll-out of the currency “in the European Union and in all continents”.

Opticians take the raam
In the Netherlands, the raam notes are accepted in Dutch shops at a fixed rate of 10 euros per raam. “There are now about 100,000 raam notes in circulation. That is not a lot but we are keeping a close eye on it because it must never lead to confusion for the public,” the Dutch central bank spokesman said. Pearle Opticians in the southern Dutch town of Roermond started accepting the raam notes three weeks ago. “We have a lot of clients in the movement and we did it as a service to them. But so far, only one person has actually paid with it,” a Pearle shop manager said. Shopkeepers can exchange their raam notes at the Fortis Bank branch in Roermond.

[ BBC NEWS ]

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