Friday 12 April 2024

The Portuguese banknotes scandal of 1925 and the end of the first Portuguese Republic


This is the fascinating story of Alves Reis that could have been written by William Le Queux, Edgar Wallace or Sir Arthur Conan Doyle. Even Professor Moriarty, the Napoleon of crime, never dreamt of BUYING the Bank of Portugal with forged notes.

I am staying in the Hotel Metropole in Lisbon where Reis stayed until he had enough "money" for the Hotel Alvenida Palace.

In the story of Aladdin the Chinese empire is gripped by massive inflation because Aladdin was turning so many things into gold. Reis's forgeries created a boom and bust in Portugal which led to a coup against the First Republic and the benign despotism of Dr Salazar. 

Reiss became converted to Protestantism in gaol and converted many other prisoners.

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