Friday, October 2, 2020
Home News Reports Fact Check: Is “Raam” with the photo of Lord Ram printed on it is...

Fact Check: Is “Raam” with the photo of Lord Ram printed on it is the world’s most expensive currency

Raam is actually a "Bearer Bond”, it is not a legal tender issued by a sovereign state or a central bank

A claim is being shared on the social media platforms that the most expensive and strongest currency in circulation is Raam. According to the claim, the price of one Raam is equal to 10 Euros. The price of one Euro at the moment is around Rs. 88.65. In this way, if the claim is to be believed, the price of one Raam should be Rs.886.5. The Netherlands government recognizes the currency, and it is still in circulation.

Supreme Court advocate Prashant Patel Umrao shared the information on social media and said, “Maharishi Mahesh Yogi started this currency in Holland and the Dutch government has also approved it.” He added that the current price of one Raam Euros. The currency was launched in different denominations in 2001. Umrao also shared images of notes of 1, 5 and 10 Raam with a photograph of Bhagwan Ram inscribed on it. You can even notice “World Peace Nation” and “The Netherlands” written on the notes.

The claim went viral on the social media, and many people wrote that while Raam is being accepted as a valid currency, there are leaders in India who consider chanting Ram Naam is communal. That leaders hesitate to support Modi government on Ram temple to appease a particular community. Some users pointed out that Bhagwan Ram was born in India, but he is getting more respect outside India.

When OpIndia investigates the claims on social media, we found that the currency named Raam was used in some shops in the Netherlands. We also found a report by BBC dated back to February 2003 stating that the Dutch Central Bank made it clear that the currency issued by Maharishi Mahesh Yogi is in sync with its regulation. At that time, more than 100 shops in the Netherlands accepted the currency.

History of currency Raam

Raam was launched in October 2001 by “The Global Country of World Peace.” The GCWP is a non-profit organisation based in USA, and its headquarter is located in Maharishi Vedic City in Iowa. Raam is issued in three denominations, 1, 5 and 10 Raams. The currency was accepted in some places in the Netherlands and USA at that time. The Finance Minister of Maharishi Movement, Benjamin Feldman, said that Raam could be proven to help eradicate poverty. He insisted that its use should be encouraged in agriculture.

Raam is commonly known as Word Peace Bond. The Maharishi Movement said that it would strengthen World Peace, balance the economy and fight poverty at the same time. In Europe, it is equal to ten Euros while in the US it becomes ten Dollars. The currency was used to build peace palaces by the organisation.

Although the currency was first issued almost two decades ago, the present status of its circulation is not known, as no recent information on it is available online. There is no information that it is used widely at present outside the Vedic city, where it is used.

Not a regular legal tender

Raam is actually “Bearer Bond” in financial terms, which is also known as local currency. Bearer bond is more an instrument of an investment than a regular transaction. Unlike a regular currency of a country, which is accepted by everyone in that country, bearer bonds may not be acceptable to all when offered in a transaction. The bond is convertible in Holland at the Fortis Bank in Roermond in Holland and in the Maharishi Vedic City in Iowa, there is no information of it being convertible in any other location.

Bearer bonds are generally issued by corporate houses or governments to collect funds, hence its basically a debt instrument. But no record is kept of the investors of the bonds, and therefore, whoever physically holds the bonds becomes the owner. For this reason, it can be used as a currency to exchange fund. But it is still not a regular currency, and bonds generally earn interests as it is a debt instrument.

Though it is priced at 10 Euro, as it is not a legal tender issued by a sovereign state or a central bank, it is not a regular currency. Moreover, it is not widely used as a currency. It is also not traded in the currency market and it has a fixed valuation against Dollar and Euro.

Another fact is, while Raam is valued at $10 and €10, bearer bonds with much more value are issued. So, it also not the most expensive bearer bond. Therefore, it is not a regular currency, and it cannot be called the world’s most expensive currency.

Global Country of World Peace has been trying to obtain a sovereign status by acquiring land and setting up a Vatican like independent city state. They tried to buy land from several countries, but none of them agreed to sell them land to set up an independent state. If GCWP is able to set up a sovereign state, then it will be able to set up a central bank, and its currency Raam will get the status of a regular legal tender.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Rahul Kanwal spreads fake news, shares a video where police express solidarity with Hathras victim’s family as ‘intimidation’

In the video, the Hathras DM can be seen telling the family of the victim that the administration is standing in their support.

Journalist says brutal murder of teenage girl in Hathras is ‘God-given strategic opportunity’ for Priyanka Gandhi Vadra

Priyanka Gandhi has been launching a no-holds-barred attack against the Yogi govt over the Hathras gang-rape incident

As the world battles Chinese virus and India plants its feet against Chinese aggression, The Hindu makes money by printing Chinese propaganda

While the dead bodies mount and India fights a dual battle with the communist regime in the form of their unprovoked aggression at the LAC, Leftist paper, The Hindu, is making money from China and furthering its propaganda for its readers.

The incredible stupidity of liberals in asking “How can Ram or Krishna have a birthplace?”

Liberals need to know that just like non-man entities like governments, companies, NGOs etc., Gods also can own property

Kapil Mishra was not described as a ‘whistleblower’ in the Delhi Riots chargesheet, people being threatened by Rahul Roy were: What media hid

An untruth propagated by media was that the Delhi Riots chargesheet filed detailing the conspiracy terms Kapil Mishra as a 'whistleblower'.

Recently Popular

Hathras gang rape: Victim cremated, accused arrested. All you need to know about the case

Uttar Pradesh Chief Minister Yogi Adityanath had a telephonic conversation with PM Modi regarding the incident and said that a special team has been formed to probe into the incident. The team will submit the report in next seven days.

‘Maal is cigarette and hash are its different brands’, Deepika Padukone makes bizarre claims when confronted with ‘drug’ chats: Report

Deepika Padukone and others were apprised in advance as to what needed to be said during the interrogation, claimed NCB

Viral message claiming that home minister Amit Shah flown to New York for treatment is false, read details

A message has gone viral on WhatsApp claiming that Amit Shah was shifted to the USA via an air ambulance due to 'critical condition'

Here is why #BabyPenguin is trending on Twitter, and why Aaditya Thackeray is called so by some

Yuva Sena registered complaint against twitter user for calling Aaditya Thackeray "Baby Penguin" and Uddhav Thackeray "Aurangzeb"

Bangalore Mirror journalist loses her mind over OpIndia’s coverage of Delhi anti-Hindu riots, suffers meltdown over long DMs and emails

After constantly sending lengthy emails and elaborate DMs, the Bangalore Mirror journalist also claimed that she does not want to 'engage in a conversation'.

Comments against Uddhav Thackeray and Aditya Thackeray: Bombay HC grants protection to Sameet Thakkar, extends protection of Sunaina Holey

The court directed the police that the petitioners Sameet Thakkar and Sunaina Holey should not be arrested until next hearing

Hong Kong pro-democracy protester carries Indian flag during Chinese National Day protests because India is fighting China

“Because India is fighting China. So India is my friend!” the pro-democracy protester carrying Indian flag in Hong Kong said

Hathras: Congress scions Rahul-Priyanka attempt to wash off mother’s sins during Nirbhaya case after trying to wash off father’s Bofors sins by shouting Rafale

Its high time that the Congress scions, who have been milking the Hathras incident, be reminded of its family legacy

Accused in Delhi anti-Hindu riots, Umar Khalid arrested by the crime branch in another FIR related to the violence

Prior to this, on September 24, Umar Khalid has been sent to judicial custody till October 22 by a Delhi court

Arnab Goswami and Republic TV bag 77% viewership for primetime, read what Rajdeep Sardesai and NDTV manage to garner

9 pm show by Arnab Goswami on Republic TV had 77% share, while Rajdeep Sardesai's show had 7%, and NDTV 1.3% share for that slot

Rahul Kanwal spreads fake news, shares a video where police express solidarity with Hathras victim’s family as ‘intimidation’

In the video, the Hathras DM can be seen telling the family of the victim that the administration is standing in their support.

In just a week, Rajasthan sees 11 cases of rape, including sexual assault of minors: Read details

11 cases of rapes, sexual assault reported in Rajasthan in a week.

The dancing boys of Afghanistan: A report on the rising ‘baccha bazi’ in the country

'Baccha Bazi' or 'Child play' is a practice in which young (and often pre-pubescent) boys are made to dress like girls and dance erotically in front of middle-aged Afghan men

SDPI leader Tasleem Rehmani calls SC verdict on Ayodhya wrong, says will rebuild Babri even it takes a thousand years

Tasleem Rehmani said that the he respected the Supreme Court but said that the Ram Janmabhoomi Babri judgment is wrong

Rahul Gandhi has a great ‘fall’: The media stunt of Hathras journey has turned into a meme fest

Rahul Gandhi is the largest stakeholder of Meme maker Rozgar Yojna. He is the muse, the inspiration and the idea that makes legendary meme artists create meme-masterpieces.

Connect with us

244,698FansLike
457,320FollowersFollow
17,600SubscribersSubscribe