IANS, Oct. 30, 2002
Called Raam, the currency is being used in the Maharishi Vedic City in Iowa, US, along with the dollar. “Raam-based bonds are also being offered in 35 US states,” a press release from the organisation said.
The organisation said Fortis Bank, a leading financial institution, is exchanging one Raam for 10 euros at its branch in Roermond, Holland.
Roermond is near Meru, the capital of the Global Country for World Peace founded by the Indian guru who was in the seventies sought out by the Beatles for spiritual enlightenment.
The Raam will soon be circulating throughout the European Union and in all continents, said Benjamin Feldman, the finance minister for Global Country for World Peace.
“The Raam has been created to reduce poverty, promote a balanced global economy and create world peace, and will serve as a catalyst currency for agriculture and other development projects worldwide,” said the group, which was founded two years ago by Mahesh Yogi.
Raam has a photo of Lord Ram printed on it and says “Raja Ram — Ram Brahma Parmartha Rupa”, in Hindi. This loosely translates to: “King Rama — Rama the form of the absolute soul.”
The currency also has Raam printed in 16 languages, including English, Hindi, Tamil, Chinese, Japanese and Arabic.
The organisation said the new currency is linked to Yogi’s plans to build some 3,000 “peace palaces” in 3,000 largest cities in the world, as also establish 1,000-4,000 hectares of “organic farms” near each of them.
It said Raam could also be requested by city mayors and chambers of commerce to guarantee building costs for these “peace palaces” and “organic farms”.
The “peace palaces” are purportedly designed to serve as home for experts in Maharishi’s Vedic Technologies, including the more popular transcendental meditation and yogic flying.
Feldman said “organic farms” would produce enough profits from sale of crops in the international market to maintain a group of “Yogic flyers” in each palace.
For this purpose, a Global Chamber of Commerce has been established to market the products worldwide.