05 October 2010

BRASIL: How Fake Money Saved The Nation From Inflation Psychology.

NPR/ Transcript of Planet Money Report/ Audio is 7:50/ A fascinating report/

Ever wonder what happened to Brasil's cruzeiros? I do. I still have more than 3,000 of them from living in Rio and elsewhere in Brasil in 1985.
Now, Planet Money's Chana Joffe-Walt reports on how four grad students saved Brasil's inflation obsessed populace in 1990 and helped kill the cruzeiro and introduce the REAL.
This is the first time I have ever seen this story told in the English language media.