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Home Articles The Gold Standard

 

Los Angeles, December 31, 1973 - Morning Walk


Paper currency: cheaters and the cheated...gold standard is good because it discourages large scale industry and trade...real wealth as cattle and grains...Therefore I am advising that purchase land and produce our own food. There will be no problem.



Prajapati: Actually, I was concerned this morning about inflation. The government and the newspapers, they say the biggest problem today is inflation. From our Krsna conscious standpoint, how can we cure this problem of inflation?

 

Prabhupada: It is very simple. Don't accept paper currency. It must be gold or some metal worth. Just like one dollar, it must be worth one dollar metal. Then it is solved. But they want to cheat. How it can be solved? Because if I pay you one dollar, I must pay you value for one dollar. But it is the cheating process is going on, "I pay you one dollar, a piece of paper. That's all." So you accept cheating, and I also cheat. Government allows. So how the problem can be solved? It is cheating. But the government allows it as law. And you accept, I accept. Then how they can be solved, solution? This is the solution.

 

Prajapati: In the economy itself there isn't actually enough money to, that's even in the banks...

 

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.

 

Bahulasva: In the Srimad-Bhagavatam, Prabhupada, you say that Kali became gold standardized.

 

Prabhupada: That is another point. That one who has gold, he can purchase these four kinds of sinful activities: meat-eating, gambling, intoxication, illicit sex. If you have money, you can get illicit sex from big, big quarters. Is it not?

 

Karandhara: Yes.

 

Prabhupada: Yes. The sinful activities have increased because the world has produced too much wealth. Because they can purchase sinful activities. And that is being increased by inflation. False money I have got, and with that false money I can purchase all this illicit sex, wine, intoxication, and... It is just like nowadays, bank is giving you a card, "Americard..." What is that?

 

Karandhara: Charge card. Bank Americard.

 

Prabhupada: Ah. So you simply show the card, you get the goods. So to exchange, it has become very cheap. So cheaply you can purchase. Therefore cheaply you can purchase sinful things also. The people are becoming sinful. The modern economy is, "Engage people in hard working to produce, and by artificial cheating, secure the goods, commodities." This is modern economy.

 

So a worker is getting three thousand dollar per month, but he is getting paper. But he is thinking that "I am getting money." He is giving his labor, and things are being produced. This is the policy. "Cheat him. Without giving money, give him paper, and get his labor, and produce goods." This is modern economy. Is it not? A laborer, a worker, is given high salary, high wages. So what he is getting? It is paper. And he is very enthusiastic to give his labor. So production is more. And when you go to purchase the products, then you have to pay again. Whatever you have earned, you have to pay everything, pay to the bank or pay to the man. Simply cheating process is going on...

 

Prajapati: This is part of our platform. To even run for political office, we need solutions to the problems to offer as a platform. We will draw up various bills, ready for legislation, show them that we are serious.

 

Prabhupada: So how you'll present it? The cheating process is going on. Unless you become God conscious, the cheating process will not stop. So there is no solution.

 

Prajapati: So therefore we introduce bill into the schools to introduce God consciousness to all the children there.

 

Prabhupada: Yes. God consciousness. Then everyone will be honest, and everything will be adjusted. Everyone can understand this is pure cheating. I give you a hundred dollars, a piece of paper. That's all. And you accept it. You want to be cheated. You thought, that "I have got now daily, hundred dollars. So let me work very hard." He does not consider that "I am not getting a hundred dollars. I am getting a piece of paper." So people have no brain to understand even. "This is not hundred dollars. Give me cash, hundred dollars." Then everything, solution will be...

 

There will be no inflation. Because I know that paying you a piece of paper, I can cheat you, therefore I am printing notes, to cheat so many people. Therefore inflation. But when there will be no possibility to cheat you, then there will be no inflation. Here I have got the opportunity, because I know that pushing forward a piece of paper, I can cheat so many people. So there must be inflation. Is it not? This is not psychological? If I know that I can cheat you by this instrument, so why shall I not increase that? That is inflation. What do you think, Karandhara?

 

Karandhara: That's the basic principle, yes.

 

Prabhupada: Yes. I am cheating you, and people accepting my cheating.

 

Karandhara: The governments actually started the whole thing. They instituted paper money and they instituted it because it is a cheating process. But everyone is participating. So it is just going on and on. That is the real cause of inflation.

 

Prabhupada: Yes. That's it. They are getting encouragement in their cheating business.

 

Bahulasva: They won't let you have any gold.

 

Prabhupada: Now they have made law that you cannot store gold?

 

Karandhara: That's been since 1933.

 

Prabhupada: Just see.

 

Karandhara: Americans cannot own gold, store gold. Pretty soon they are going to pass the same law for silver.

 

Prabhupada: Just see. Even they cannot have ornaments.

 

Karandhara: Well, you can have ornaments, jewelry.

 

Prabhupada: So by law they are cheating. So how you can stop?

 

Karandhara: Now they have introduced a law that even the penny, which is the smallest denomination, it used to made out of copper, so now they are going to make it out of aluminum, because copper is too expensive.

 

Prabhupada: Just see.

 

Bahulasva: It will be worth less than a penny when it is made out of aluminum.

 

Prabhupada: Why not cement? (laughter) Because by law everything will be acceptable. Make it cement.

 

Bahulasva: Srila Prabhupada, what can we do to curb down these rascals?

 

Prabhupada: Chant Hare Krsna.

 

Bahulasva: That will curb them down.

 

Prabhupada: Yes. They will be purified. The more you chant Hare Krsna, they will be purified. This is... All problems are there on account of misunderstanding. What we are distributing? We are simply moving misunderstanding and bringing them to knowledge. This is our propaganda. So Mr. Theologician, is this suggestion appealing to you?

 

Prajapati: It seems all right for ordinary dealings, Srila Prabhupada, having this money, what's going on, but for large scale transactions it might be very difficult.

 

Prabhupada: Huh?

 

Prajapati: And as the practical basis, transactions of thousands and thousands of dollars, would be...

 

Prabhupada: That will be good for the people. Because large scale transaction is there, therefore the capitalists hoarding. Capitalists hoarding. Goods are there, everything is there. You pay black price, you get it. Then, when somebody's hoarding, he is not giving to the market. So if the large scale industry and trade becomes stopped, that is good for people.

 

Jagajjivana: Does that mean the same amount of gold is here?

 

Prabhupada: No, larger scale... Suppose if you want to store, say, thousand kilos or a thousand bags of rice, so you have to pay me gold. But you have no such gold. Therefore large scale industry will be stopped. Just see.

 

Karandhara: Then the price of rice would go very low.

 

Prabhupada: Yes. Then you get actual price and actual value. Goods are there, any part of the world you..., there is enough commodity. But these rascals, they are hoarding, and they are not giving in right time. So people are suffering.

 

Karandhara: Yes. There's a... They buy now. They buy the goods before they are even grown, from the commodity market.

 

Prabhupada: Yes, because they can pay in this paper, the bank will advance. So as soon as you... You have to introduce this metal coins, value. The whole cheating scheme will fail.

 

Jagajjivana: In the past there was a lot of gold on the planet. What has happened to it? There used to be a lot of gold on the planet?

 

Prabhupada: Yes. They used as utensil, as household pots. Just like now you are advanced, using plastic, because you have become very advanced. So you are using plastic. They were using gold.

 

Jagajjivana: So what has happened to that gold?

 

Prabhupada: What happened? If you keep utensil at home, what happens? You eat nicely on the plate. That's all. Why you are concerned, what happening? It is in your store. That's all. And gold is such a metal, any part of the country, any part of the world you go, you get immediately value.

 

Karandhara: Yes. Whenever there is an economic depression, then gold remains valuable. Just like when the stock market crashed in 1929, if you had gold you could still purchase goods. No matter how bad the economy was, people would accept gold as barter, but not currency.

 

Prabhupada: Yes. Indian economy was that if you have got extra money, you get gold ornament for your wife. So then your money is stocked there. Or purchase some utensils, silver utensils. That was Indian economy. This depositing in the bank and thinking that I am getting good interest, that is another cheating. It is another cheating. If things are not available, what will you get by getting interest? Therefore I am advising that purchase land and produce our own food. There will be no problem.

 

Karandhara: The inflation rate is higher than the interest rate. If you earn 5 3/4 % interest in a year, the inflation has gone up 6% in a year. So actually your money, at best it's kept the same.

 

Prabhupada: The money is to be kept in cattle and grains. That is Indian economy, cattle and grains. If you have got many cows, you get milk. Milk preparation. And if you have got grain, then where is your problem? You prepare your foodstuff at home and eat and chant Hare Krsna. Where is your problem? You want to eat and live peacefully. So if you have got grains and milk, you have got enough food and there is no problem. You haven't got to go fifty miles for your work, and then you require a tin car. So many problems. But if you get your food at home, then eat them and chant Hare Krsna and go back to home, back to Godhead. Simple thing.

 

Prajapati: So many people now employed in sinful activities, jobs that are to do with sinful life. If we get rid of these sinful activities, what will we find for these people to do to replace their jobs?

 

Prabhupada: Do pious activities. Do you mean to say we have to continue sinful activities for their job? (laughter)

 

Prajapati: They say like that.

 

Prabhupada: No, we shall give engagement.

 

Prajapati: Cattle industry, liquor industry, tobacco industry, all these big industries.

 

Prabhupada: Yes. Let them be without industry. Come to us. We shall give them food. Yes. Just like that... What is that? Mrgari, Mrgari. He was thinking that "Unless I kill animals, how I will eat, I shall live?" And Narada gave him, that "I will give you to eat. Come here." So he became Vaisnava. So that is our propaganda." Stop this nonsense business. If you think that 'How you shall eat?' I shall give you eating. Come on. "This is our program." First of all you stop it. Then I will, see how I will give you." Just see. When I came first I was alone. I had no shelter, no food. And how we are maintaining now thousands of people, and giving them to eat, and nice shelter? How it is possible? It is possible. Because after all, Krsna gives everything. So if they become Krsnized, everything will come. Why they bother about the sinful activities?

 

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Last Updated (Wednesday, 02 October 2013 23:02)

 
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“Another meaning of guna is rope; it is to be understood that the conditioned soul is tightly tied by the ropes of illusion. A man bound by the hands and feet cannot free himself–he must be helped by a person who is unbound. Because the bound cannot help the bound, the rescuer must be liberated. Therefore, only Lord Krishna, or His bona fide representative the spiritual master, can release the conditioned soul. Without such superior help, one cannot be freed from the bondage of material nature.” (from Srila Prabhupada’s purport to Bhagavad-gita 7.14)