Comments on: North Korea Revalues Currency, Wipes Away Savings of Millions (Updated)

By: kushibo

kushibo — Wed, 09 Feb 2011 08:33:18 +0000

There are reports that public executions have tripled in the period since the currency revaluation.

By: Twitter Trackbacks for One Free Korea Â» North Korea Revalues Currency, Wipes Away Savings of Millions (Updated) [freekorea.us] on Topsy.com

Sun, 06 Dec 2009 04:46:02 +0000

[...] One Free Korea Â» North Korea Revalues Currency, Wipes Away Savings of Millions (Updated) http://www.freekorea.us/2009/12/01/north-korea-revalues-currency-wipes-away-savings-of-millions – view page – cached One Free Korea analyzes North Korea and South Korea – human rights, politics, diplomacy, concentration camps, google earth imagery, famine and food aid, advocacy, and military affairs. It is read by… Read moreOne Free Korea analyzes North Korea and South Korea – human rights, politics, diplomacy, concentration camps, google earth imagery, famine and food aid, advocacy, and military affairs. It is read by lawmakers, journalists, diplomats, activists, and academics worldwide. View page [...]

By: James Chen

James Chen — Wed, 02 Dec 2009 07:39:21 +0000

I’ve bought gold recently for fear of seeing here in the US what happened in North Korea. The US dollar is rapidly becoming worthless, as a result of a deliberate US Government policy of neglecting the dollar.

By: kushibo

kushibo — Wed, 02 Dec 2009 00:33:47 +0000

mike v, you inspired me to add the following observation to my blog post: Unless there have been behind-the-scenes provisions for connected people to exchange considerably more than the $40 or $60 limit, then those middle-level party cadres who run the show outside of Pyongyang suddenly have a lot less stake in keeping the regime going.

By: mike v

mike v — Tue, 01 Dec 2009 22:53:32 +0000

Reach in your pocket, do you have $40? If so, you are richer than anyone in N. Korea after they exchange their old currency for new currency.

By: Jack

Jack — Tue, 01 Dec 2009 22:40:39 +0000

Jonathan:

Not if the old currency is worthless. There might be a market for exchanging old currency in the black market at very inflated rates, but after a while, yeah, it will not be worth it.

By: Jonathan Gardner

Jonathan Gardner — Tue, 01 Dec 2009 22:00:37 +0000

Will there be a black market for the old currency?

By: kushibo

kushibo — Tue, 01 Dec 2009 19:58:30 +0000

I wonder if we have just seen the catalyst for regime change from within. As I wrote on this same subject (before I saw yours), this completely changes the calculus for individual families who up to now have thought their chances for survival are better if they do nothing than if they do something. In my gut, I think this may be the biggest potential game changer we've seen in a while. Suddenly thousands if not millions have lost their means to scrape by.