Vishnudas Art
Hare Krsna Guru, 1977, on gold and money...
(Prabhupada laughs) So this artificial way of banking, that will be also collapsed.
Room Conversation -- January 21, 1977, Bhuvanesvara:
Rāmeśvara: Actually most purchasing in America is done on credit now. Even a step beyond paper money is credit, no money, buying on no money, loans.
Prabhupāda: That is in India also.
Rāmeśvara: We don't find these things in Vedic culture too much.
Prabhupāda: There was never paper money.
Hari-śauri: No. They used to...
Prabhupāda: That barter system. You have got rice; I have got something else. So I give you something; you give me something.
Hari-śauri: But isn't inflation possible even with coins? Even if you have gold coins, isn't inflation still possible?
Prabhupāda: No, gold is acceptable by everyone.
Rāmeśvara: The main point is the barter system.
Hari-śauri: Yes, well its value is recognized by its purchasing power.
Prabhupāda: Yes.
Hari-śauri: So you can alter... Say, you have