3 ms·
Very similar to the Pavlov monetary reform in the Soviet Union - I was just a kid but I can remember that: "Within hours of the stunning announcement, massive
by Evgeny 17y ago
Very similar to the Pavlov monetary reform in the Soviet Union - I was just a kid but I can remember that:
"Within hours of the stunning announcement, massive lines had formed in the bitter, early-morning cold, waiting for banks to open. "People are afraid," says Vladimir Kuzmichov, a retired engineer nervously fingering his cash notes outside a Moscow bank. The Soviet state bank had just proclaimed that all 50- and 100-ruble notes would be banned and saving accounts would be partly frozen. Each person could exchange up to 1,000 rubles, the equivalent of less than four months' average pay, for small-denomination notes."
http://www.businessweek.com/archives/1991/b319837.arc.htm http://www.businessweek.com/archives/1991/b319837.arc.htm