7 ms·

> This is a strategy copied from China. They did same in 1970-80's. Citation needed.

• guard-of-terra 10y ago
  USSR did that quite a few times. They'll invalidate existing bills and you would only be able to exchange a few of those. Do this enough times and people will rightfully call the local currency "wooden", and switch to USD for any large transactions. https://en.wikipedia.org/wiki/Monetary_reform_in_the_Soviet_Union,_1991 https://en.wikipedia.org/wiki/Monetary_reform_in_the_Soviet_... Rouble also became worthless in the following years, Venezuela-style. Accompanied by Venezuela-like poverty.
• atxcrab 10y ago
  India did this once already . 1978 - all denominations gt than 100 INR were demonetised
  • atxcrab 10y ago
    https://indiankanoon.org/doc/1547/ https://indiankanoon.org/doc/1547/
  • leafee 10y ago
    That does not sound like a secret plan sprung on the people with surprise.