Guest guest Posted February 5, 2003 Report Share Posted February 5, 2003 BBC News – World Edition Wednesday, 5 February, 2003, 18:58 GMT http://news.bbc.co.uk/2/hi/business/2730121.stm Dutch give nod to 'guru currency' raam *************** By Danielle Rossingh BBC News Online business reporter 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. In a statement, Benjamin Feldman, 'Minister of Finance' of the Maharishi movement, said: "The raam is a key element... to promote a balanced world economy, reduce poverty and create world peace." He said governments should use the raam as a "catalyst currency" to start up agricultural and other development projects around the world. But there was no further detail on how the group envisaged the raam reducing world poverty. 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. The Beatles Mr Maharishi introduced his "Transcendental Meditation" method to the West more than 40 years ago. Since then, he has built up a following of about six million people. His most famous followers were the Beatles, who travelled to India in 1968 to meditate with him. _____________ Join Excite! - http://www.excite.com The most personalized portal on the Web! Quote Link to comment Share on other sites More sharing options...
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