View source for One of the major issues always in political battles is how would you control inflation, how would you solve the inflation problem?

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[[Category:Questions asked to Srila Prabhupada]]
[[Category:Questions asked to SP... 1976]]
[[Category:Questions On... Politics, Government]]
[[Category:Questions On... Economics - Wealth, Resources, Money, Business]]
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<div id="Conversations_and_Morning_Walks" class="section" sec_index="5" parent="compilation" text="Conversations and Morning Walks"><h2>Conversations and Morning Walks</h2>
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<div id="1976_Conversations_and_Morning_Walks" class="sub_section" sec_index="9" parent="Conversations_and_Morning_Walks" text="1976 Conversations and Morning Walks"><h3>1976 Conversations and Morning Walks</h3>
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<div id="RoomConversationJune171976Toronto_0" class="quote" parent="1976_Conversations_and_Morning_Walks" book="Con" index="146" link="Room Conversation -- June 17, 1976, Toronto" link_text="Room Conversation -- June 17, 1976, Toronto">
<div class="heading">Inflation problem, I suggested, make gold coins as medium of exchange.
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<span class="link">[[Vanisource:Room Conversation -- June 17, 1976, Toronto|Room Conversation -- June 17, 1976, Toronto]]: </span><div class="text"><p style="display: inline;">Hari-śauri: The thing that came up when we were into doing the political thing a little bit, they were asking..., one of the major issues always in political battles is how would you control inflation, how would you solve the inflation problem?</p>
<p>Prabhupāda: Inflation problem, I suggested, make gold coins as medium of exchange.</p>
<p>Hari-śauri: That means that there'll be the same..., it'll have the same value all over the world.</p>
<p>Prabhupāda: No question of value. Money has to be paid by real money-gold, silver. No paper.</p>
<p>Hari-śauri: But whether it's gold or paper, isn't it all just representative of...</p>
<p>Prabhupāda: No, medium of exchange.</p>
<p>Hari-śauri: Yes.</p>
<p>Prabhupāda: If I have to pay you, if you don't accept paper, then I'll have to give you gold or silver, and international exchange is going on. Then there is no inflation, because you'll not accept paper, so what is the use of printing notes? They are printing notes without any gold reserve.</p>
<p>Hari-śauri: Nothing. It's just imaginary wealth.</p>
<p>Prabhupāda: That's it. Bank will give you loan, they are eager to give you loan, and you haven't got to pay anything in gold and silver. One check, that's all. And with that check you can purchase lots of commodities and hoard it, and price will be increased. If I have to pay gold for (indistinct), then I have limited source. The price will not increase. This is the only way. Introduce gold only, gold and silver. In the British period in our childhood there was practically no notes. Silver. If I have to take payment from you, one thousand rupees, you will give me so much silver. For counting, counting, I have to see whether it is.... There were some imitation, counterfeit. So each coin you have to see, they were saying like that, that, "For thousand rupees I have to occupy so much space."</p>
<p>Hari-śauri: And weighed so much.</p>
<p>Prabhupāda: Yes, and weight was so much. (pause) The time was not so bad. If you take some cash, thousand, two thousand rupees with you, you can safely walk on the street. Now if somebody knows that he has got thousand rupees cash with him, maybe he will be killed. The bank, they are so much afraid, they keep police in bank, police guard, always.</p>
<p>Hari-śauri: They have so much security systems and TV cameras. (break)</p>
<p>Prabhupāda: ...not working?</p>
<p>Hari-śauri: Is there any kind of a pain killer or anything?</p>
<p>Prabhupāda: No.</p>
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