News for hackers. Stuff that matters.

A comment on How Fake Money Saved Brazil (2010).

Re:How Fake Money Saved Brazil (2010) by shambala on Saturday September 03, 2016 @12:39PM (#12419835)
Ridiculous. They should have dollarized the economy. It would have forced internal and external discipline on them.
[ Parent | on HN ]
Re:How Fake Money Saved Brazil (2010) by ufo on Saturday September 03, 2016 @01:43PM (#12420166)
That is precisely what they did. 1 URV = 1 USD
[ Parent | on HN ]
Re:How Fake Money Saved Brazil (2010) by sebastianconcpt on Saturday September 03, 2016 @03:43PM (#12420774)
Yep. And Argentina did the same in the 90's and they made 1 Peso = 1 USD. And it stopped hyperinflation.

What screwed up Argentina (big big time) was having state size go completely out of control and grow and grow until deficit couldn't be grown anymore and debt either.

After that crisis (2001) 5 presidents in 1 week, currency devaluation and a populist new president took office, then his wife (the Kirchners) and they almost became what Venezuela is today.

[ Parent | on HN ]