General Ne Win, the dictatorial leader of Burma, was a fan of numerology. This meant that he had a penchant for creating new currency in interesting denominations – and making the old banknotes worthless.
Nsmm45 [CC BY-SA 4.0], via Wikimedia Commons
In 1986, 15 and 35 kyat notes entered circulation. Not for long: the next year, they were both demonetized, along with the 25 kyat note. Ne Win introduced 45 and 90 kyat notes (supposedly because they incorporated the numerologically significant number 9), but millions of dollars of savings were wiped out.
What’s the solution to such insanity? In 1988 the country rose up in protest and Ne Win resigned, promising multi-party elections. Those elections never happened, and much bloodshed and a military dictatorship followed.
[Thanks to Shaun T for suggesting this topic]
Categories: Asia Economics & business History Modern history Places Politics & law
The Generalist
I live in Auckland, New Zealand, and am curious about most things.
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