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Raam Currency

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Pillar of the Community

Thailand
1509 Posts
 Posted 11/22/2012  11:14 am Show Profile   Bookmark this topic Add thai-vic to your friends list Get a Link to this Message Number of Subscribers
Just watched a tv program from a few years ago and they mentioned that the Mhaharishi Vedic City (Iowa) issued their own currency.

Apparently, after some googling, 1 Raam is equivalent to 10 Euro (in Europe) and $10 in the USA.

Does anyone have any examples of the 1, 5 or 10 of this (and I'm sorry if I offend anyone) JOKE currency?
Pillar of the Community
amida17's Avatar
United States
4897 Posts
 Posted 11/22/2012  2:53 pm  Show Profile   Bookmark this reply Add amida17 to your friends list Get a Link to this Reply
Interesting. Put it on my want list...thinking they will look nice next to my Bhutan notes...

The Dutch seem to like it...

http://news.bbc.co.uk/2/hi/business/2730121.stm
Edited by amida17
11/22/2012 2:57 pm
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Kopper Ken's Avatar
United States
3402 Posts
 Posted 11/23/2012  7:39 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
That's strange that the Raam would have an exchange rate of both 10Euro and 10USD, when the USD id not equal to the Euro. Buy Raams with USD and exchange them for Euros, good arbitrage leverage.

FYI these local currencies are usually referred to as scrip.

KK
Pillar of the Community
Thailand
1509 Posts
 Posted 11/24/2012  12:15 am  Show Profile   Bookmark this reply Add thai-vic to your friends list Get a Link to this Reply
Yes I thought the same but on Amida's link you'll notice that "Nederland" is printed so I assume they are not interchangeable.
After all a "charitable" organisation like that worth, possibly, billions of dollars isn't that stupid.
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