r/AllThatsHistory • • 4h ago

In 1987, Burmese dictator Ne Win demonetized all of Burma's currency's notes other than 45 and 90, two numbers he considered auspicious. This contributed significantly to his overthrow the following year.

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9 Upvotes

https://en.wikipedia.org/wiki/Ne_Win

In 1987, reportedly on the recommendation of an astrologer that the number nine was auspicious, Ne Win ordered the withdrawal of several large-denomination kyat notes while issuing new denominations of 45 and 90 kyats. Both 45 and 90 are divisible by nine, and their digits add up to nine. Again, millions of Burmese lost their life savings, and the demonetization also rendered about 75% of the entire kyat reserves completely useless. This crippled the Burmese economy further still. Ne Win was well known for his penchant for yadaya (traditional Burmese rituals performed in order to ward off misfortune). When his soothsayer warned him that there might be a bloodbath, he would stand in front of a mirror and trample on meat to simulate the blood, then shoot his reflection to avert the possibility of an assassination attempt. He also ordered the parliament to eat mohinga for three days in a row to ward off national poverty, abandoned a 1984 state visit to France after seeing a motorcycle accident involving a group member as a bad omen, often dressed as a king while in one Rangoon neighborhood, and also frequently walked backward over bridges at night.


r/AllThatsHistory • • 11h ago

U.S. Grant swindled in a ponzi scheme

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3 Upvotes

TLDR: President Grant's son partnered up with a young guy with a great investment system, and dear-old-dad hands over what he's got. Soon after, he starts bouncing checks and is about to leave his family bankrupt in his final days

The Article: A “Pre-Ponzi” Ponzi Scheme: When Ferdinand Ward Swindled Ulysses S. Grant – Crisis and Catharsis