3 ms·
> Demonetization is far from an 'experiment'. It's a fairly common practice: India did it in the 20s & the 40s, Nixon did it in the late 60s, the European Centr
by gnipgnip 10y ago
> Demonetization is far from an 'experiment'. It's a fairly common practice: India did it in the 20s & the 40s, Nixon did it in the late 60s, the European Central Bank also did it recently.
Context:
- India 20's 40's : Rs. 5000, 10000 notes
(current prices: ~$ 15k , 30k resp.)
- Nixon : Gold & Silver exchange stopped.
- ECB : 500 Euro notes out.