[leafee]

> This is a strategy copied from China. They did same in 1970-80's.

Citation needed.

[guard-of-terra]

USSR did that quite a few times. They'll invalidate existing bills and you would only be able to exchange a few of those.

Do this enough times and people will rightfully call the local currency "wooden", and switch to USD for any large transactions.

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

Rouble also became worthless in the following years, Venezuela-style. Accompanied by Venezuela-like poverty.

[atxcrab]

India did this once already . 1978 - all denominations gt than 100 INR were demonetised

[atxcrab]

https://indiankanoon.org/doc/1547/

[leafee]

That does not sound like a secret plan sprung on the people with surprise.