A bit on the virtual currency

Hindu Businessline, Investment World
September 07, 2013

The first time I heard of a currency issued by an institution, apart from the Government or the Central Bank of a nation, was way back in 2002. A relative, devotee of Maharishi Mahesh Yogi, told us about “Raam”. Raam is a currency in circulation in Holland and parts of United States, issued by the Stichting Maharishi Global Financing Research (SMDFR), a charitable foundation based in Holland. Two questions came to my mind: First, who guarantees the payment to the bearer? Second, if many more institutions start to issue currencies, wouldn't it lead to a lot of chaos?

Similar, and more, questions were raised in our minds when we heard of Bitcoin for the first time.

Raam a Global development currency at Holland ( राम एक वैश्विक विकास मुद्रा )

March 19, 2013

Vishal Shesth

Raam is a Bearer Bond or local currency (note-its not a Currency of Holland) issued by  Stichting Maharishi Global Financing Research (SMDFR), a charitable foundation based in Holland The Raam was launched on October 26 2001, The Global Country of World Peace, set up by the Indian mystic, issued the brightly coloured notes of one, five and 10 “Raam.”

Maharishi Mahesh known first as a guru of Beatles in the 1960s, the Maharishi Mahesh Yogi has 4 million followers worldwide who believe that a diet of meditation and organic foods is the path to personal enlightenment and world peace.