SUBJECT: BBC and other media reports on Dutch Central Bank approval of Raam currency, and Maharishi's comments.

Dear Friends
The story attached below about the Raam currency has been issued globally by the BBC and Reuters news agency. There have also been many other reports on this story in the media around the world, including The Independent in the UK, and the Times of India.

When he was asked by Dutch national TV during last Wednesday's press conference whether he was happy with the decision of the Dutch Central Bank to welcome the Raam, Maharishi said: "I am very thankful to the very good, high sense of the Central Bank of Holland. I appreciate their whole attitude in favour of the fulfilment of the present need in the world economy to have a currency which will be bold enough to embark upon fulfilment of the development projects of the poor world. I am very grateful to the laws of Holland, to the Government of Holland, and to the attitude of the Central Bank of Holland.

For your interest, we also attach below (after the BBC report) a transcript of Maharishi's answer from a recent press conference when he explained in more detail how he sees the Raam helping the world economy.

For more information on the Raam, please follow links on the newly-presented website www.globalcountry.org where there are links to the Raam prospectus, World Peace Bonds, etc.

With best regards
Jai Guru Dev
Media Department

Online edition includes colour image of the one Raam note. http://news.bbc.co.uk/2/hi/business/2730121.stm

A new "currency" issued by a group founded by Beatles guru Maharishi Mahesh Yogi may be used and has not violated Dutch law, the Dutch central bank has said.

The Global Country of World Peace, set up by the Indian mystic, issued the brightly coloured notes of one, five and 10 "raam" last October.

Since then, more than 100 Dutch shops, some of them part of big department store chains, in 30 villages and cities have accepted the notes.

A spokesman for the Dutch Central Bank told BBC News Online the bank was keeping a close eye on the raam, although he added that the Maharishi movement had done everything according to the law.

"The raam can be used as long as the notes are not used as legal tender and it stays within a closed-off circuit of users," he said.

The raam is also circulating as the currency of Maharishi Vedic City in the US state of Iowa together with the US dollar, while raam-based bonds are being offered in 35 American states.

In a statement, Benjamin Feldman, 'Minister of Finance' of the Maharishi movement, said: "The raam is a key element... to promote a balanced world economy, reduce poverty and create world peace."

He said governments should use the raam as a "catalyst currency" to start up agricultural and other development projects around the world.

But there was no further detail on how the group envisaged the raam reducing world poverty.

The movement plans a roll-out of the currency "in the European Union and in all continents".

In the Netherlands, the raam notes are accepted in Dutch shops at a fixed rate of 10 euros per raam.

"There are now about 100,000 raam notes in circulation. That is not a lot but we are keeping a close eye on it because it must never lead to confusion for the public," the Dutch central bank spokesman said.

Pearle Opticians in the southern Dutch town of Roermond started accepting the raam notes three weeks ago.

"We have a lot of clients in the movement and we did it as a service to them. But so far, only one person has actually paid with it," a Pearle shop manager said.

Shopkeepers can exchange their raam notes at the Fortis Bank branch in Roermond.

Mr Maharishi introduced his "Transcendental Meditation" methods to the West more than 40 years ago.

Since then, he has built up a following of about six million people.

His most famous followers were the Beatles, who travelled to India in 1968 to meditate with him.

Copyright BBC 2003

Question from a Japanese reporter: "Maharishi in what way will the Raam, the currency of the Global Country of World Peace, make the Japanese economy and the whole world economy better? What kind of mechanism is at work that will allow the Raam to improve the global economy?"

Maharishi: "There are two expressions: the 'catalytic quality' of the Raam; and that the Raam is a 'development currency'.

"Everywhere, money is not enough for any country to meet the requirement of their development programmes. The Finance Minister of the Global Country of World Peace has come out with a currency, Raam, which is to help the development of every country so that the development programmes do not feel the lack of finances. This is one characteristic of Raam policy.

"The Central Bank of the Global Country of World Peace has a policy that the Raam will help the development programmes of every country and will not allow any country to feel the lack of financing for their development programmes. This is one characteristic quality of Raam, the currency of the Global Country of World Peace.

"The second characteristic quality is that it is catalytic in character. That means it causes new currency, it causes the local currency to become more effective. Raam is used for production, basically in agriculture. It could be in other places also, but basically in agriculture Raam produces. And the products produced by Raam are exported and the money earned from exports comes in terms of the local currency. This is how the catalytic quality of Raam does not create, it only produces, and the product creates affluence in the country through export income.

"So, these are the two very, very special qualities of Raam. It is a development currency - and development in one area for one period. And it is a catalyst currency, it is not a permanent currency. It does not do away with the existing currency of any country, but by its presence, by virtue of producing the product, it generates new money. New money means the old money is produced in greater quantity.

"These two very special features of the currency of the Global Country of World Peace are very timely. Otherwise, all these countries say 'Oh, I am a sovereign country, and could you help me, my people are suffering from famine, and this.' So, sovereignty is a begging bowl these days. In this world, Raam comes to be a saviour of the economy of every country. This is the characteristic of this policy of Raam."

END