Information AboutRui Barbosa |
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He was famous for his support of Fiat Money , as opposed to a Gold Standard in Brazil, and during his stay as minister of finances, implemented far-reaching reforms of Brazil's financial regimes, instituting a vigorously expansionist Monetary Policy . The result was a veritable chaos and institutional instability, and the so-called fiat experiment was a dismal failure, resulting in an orthodox backlash under the Murtinho program later in the decade. |