| Revision as of 19:24, 8 January 2014 editKeithbob (talk | contribs)Extended confirmed users, Pending changes reviewers, Rollbackers47,111 edits add merge tag← Previous edit |
Latest revision as of 22:37, 16 November 2017 edit undoLittleWink (talk | contribs)Extended confirmed users100,639 editsm fix double redirect |
| (6 intermediate revisions by 4 users not shown) |
| Line 1: |
Line 1: |
|
|
#REDIRECT ] |
|
{{Merge to|Global Country of World Peace|discuss=Talk:RAAM#Merger proposal|date=January 2014}} |
|
|
|
|
|
{{Other uses}} |
|
|
|
{{Redirect category shell| |
|
{{Infobox currency |
|
|
|
{{R from ambiguous term}} |
|
|currency_name_in_local = Raam |
|
|
|
{{R with history}} |
|
|image_1 = |
|
|
|image_title_1 = |
|
|
|iso_code = |
|
|
|using_countries =Global Country of World Peace, The Netherlands, USA |
|
|
|inflation_rate = |
|
|
|inflation_source_date = '''', 2006 est. |
|
|
|subunit_ratio_1 = |
|
|
|subunit_name_1 = |
|
|
|symbol = |
|
|
|symbol_subunit_1 = |
|
|
|nickname = |
|
|
|nickname_subunit = |
|
|
|plural = |
|
|
|plural_subunit_1 = |
|
|
|frequently_used_coins = |
|
|
|rarely_used_coins = |
|
|
|frequently_used_banknotes = |
|
|
|rarely_used_banknotes =1, 5 and 10 Raam |
|
|
|issuing_authority = Stichting Maharishi Global Financing Research |
|
|
|issuing_authority_website = www.maharishiglobalfinancing.org/ |
|
|
}} |
|
}} |
|
'''RAAM''', or Raam is a ] and ] issued by ].<ref name="BBC News 2003"/> It was designed for the development of agricultural projects and to combat poverty in third world countries.<ref name="BBC News 2003"/> As of 2003, it had limited acceptance in some European and U.S. cities. |
|
|
|
|
|
==Description== |
|
|
] |
|
|
The Raam is issued in denominations of 1, 5 and 10 Raams, with one Raam equal to 10 Euros in Europe, and one Raam equal to 10 dollars in the U.S.<ref name="appropriate-economics.org"/> Raam notes are printed by ].<ref name="appropriate-economics.org"/><ref name=Graham/> In 2002, Maharishi Vedic City Mayor Bob Wynne estimated that there was $40,000 worth of Raam in circulation.<ref name=Graham>Graham, Chad, "Maharishi's town puts its own mark on money", ''Seattle Times'' (September 15, 2002)</ref> The Raam differs from other complementary currencies because its focus is on the export of products rather than improving local circulation to benefit the lives of local people. <ref name="appropriate-economics.org"></ref> According to the Minister of Finance for the Global Country of World Peace, the Raam "could be used" for agricultural projects in developing nations. <ref name="BBC News 2003"></ref><ref name=Helman></ref> ] currency expert James Dorn expressed doubt about the viability of the plan, suggesting that other economic approaches would be a better way to establish a network of collective farms.<ref name=Helman/> According to the issuer, the Raam is also a bearer bond that earns a total of 3% interest after five years (0.6% simple interest annually).<ref name="maharishiglobalfinancing.org"></ref> |
|
|
|
|
|
==History== |
|
|
The Raam was used, as of 2003, alongside Euros in accordance with Dutch law in more than 100 shops in the ].<ref name="BBC News 2003"/> The Raam was convertible in Holland at the Fortis Bank in Roermond, Holland.<ref name="appropriate-economics.org"/> As of 2003, the Dutch Central Bank estimated that there were approximately 100,000 Raam notes in circulation.<ref name="BBC News 2003"/> It also had limited acceptance in the Iowan cities called ] and ].<ref>"Fairfield bank stops handling Raam", ''Iowa City Gazette''(''Associated Press'') (March 28, 2002) p. 6</ref><ref>, '']'' (''Associated Press'') (April 30, 2002) p.A-5</ref> According to Maharishi Global Financing, agreements were made in 2004 with a farmers' association in South America and with traditional leaders in Africa to start using the Raam for agricultural development projects.<ref name="appropriate-economics.org"/> |
|
|
|
|
|
==References== |
|
|
{{reflist}} |
|
|
|
|
|
{{Transcendental Meditation}} |
|
|
|
|
|
{{DEFAULTSORT:Raam}} |
|
|
] |
|
|
] |
|
|
] |
|