It might surprise you to know as to how far the roots of Lord Rama go throughout the world. Not only his followers are spread across continents, there is an actual currency that exists with his picture on it. Yes, you heard that right. Known as ‘Raam’, the currency is used in some parts of the Netherlands and US. Here is the fascinating story behind it…
How did it all start?
Raam, as an organisation, was launched in October 2001 by “The Global Country of World Peace.” Headquartered in the Maharishi Vedic City in Iowa, Raam (the currency) is issued in 3 denominations, called 1,5 and 10 Raams. Back then, the currency was accepted in some places in the Netherlands and USA.
According to the Maharishi Movement, Raam as a currency could help eradicate poverty, and strengthen World Peace. In Europe, it was equal to ten Euros, while in the US it was 10 dollars. According to reports, the currency was used to build peace palaces by the organisation.
Where is the catch?
However, Raam is not a legal currency, but rather a bearer bond, known in layman terms. To explain it further, it is more of an instrument of investment, rather than a regular transaction. This means that while the currency might be acceptable in some parts of the country, it might not be acceptable elsewhere. Back then, the bond was convertible at the Fortis Bank in Roermond in Holland, and in the Maharishi Vedic City in Iowa.
Moreover, it was never a widely used currency in the first place, issued by the sovereign state or a central bank. To explain further, bearer bonds are usually issued by corporate houses or governments to collect funds, hence it is basically a debt instrument. However, no record of the investor is kept by the bank, hence the currency holds no legal tender.
More about Global Country of World Peace
The Global Country of World Peace (GCWP) is a non-profit organization that hopes to create a world without suffering and struggle. The organization was founded by Maharishi Mahesh Yogi in 2000. The organization promotes transcendental meditation, sustainable living, organic farming, holistic education, unity consciousness and much more. According to some reports, it is trying to attain a sovereign status of its own, by acquiring land, and becoming independent like the Vatican. If it manages to do so, then it can set up a central bank, and Raam can indeed become a legal tender.
More about the Maharishi Vedic City in Iowa
Maharishi Vedic City (MVC) is a city in Jefferson County, Iowa, US. Its population was 277 at the time of the 2020 census. The small city came to be known in 2001 as “Vedic City”, but soon officially changed its name to “Maharishi Vedic City.” The city is based on the Maharishi Sthapatya Veda, and includes ancient architecture, and design. Most houses are constructed keeping Vastu in mind, and its goals are to “protect, nourish, and satisfy everyone.”
