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" ... But, there have been other spectacular currency redenominations. Allow me to take a trip down memory lane for a first-hand account of my days as the Personal Economic Advisor to the Deputy Prime Minister of the Socialist Federal Republic of Yugoslavia from 1990 until June 1991, when the civil war broke out. I first met Deputy Prime Minister Zivko Pregl in late 1989 at a dinner in Vienna, Austria. The dinner, which Mrs. Hanke and I attended, was arranged by our good friend, the late-great Daniel Swarovski from Wattens, Tyrol. The day following our most pleasurable dinner, Pregl – the person responsible for developing economic reforms for the Yugoslav government led by the late Ante Marković – requested a meeting. We discussed his reform ideas and he invited me to become his advisor. I indicated that I had reservations because I was a classical liberal, free-market economist, and he was a leader of the Communist League of Yugoslavia. Pregl then surprised me when he said my qualifications were exactly why he invited me to be his advisor. He asserted that he wanted to implement free-market reforms and didn’t want watered-down advice. Pregl persisted and, after I learned that he had a hand in the dissolution of the Communist League of Yugoslavia in January 1990 and was committed to real free market reforms, I agreed to become his advisor. ... "