Silver Stackers Forum
Independent forum for those
who love to stack Silver and Gold
You are not logged in.
|
|
#1 2009-12-03 15:00:35
- boneyard
- Silver Stacker ++
- From: Hobart Town
- Registered: 2009-07-10
- Posts: 1022
North Koreans in misery as cash is culled
http://www.timesonline.co.uk/tol/news/w … 940482.ece
There were reports of public outrage and confusion after the announcement of the measure, which requires North Koreans to swap existing won notes for new ones at an exchange rate of one to 100 — effectively knocking two zeroes off their value. Because of a cap of 100,000 won per family (£475 at the official exchange rate), anyone with significant holdings of cash will have their savings wiped out.
Just enjoy the ride as best you can.........................
Offline
#2 2009-12-03 15:13:23
- goldpelican
- Administrator
- From: Melbourne, Australia
- Registered: 2009-06-30
- Posts: 3451
Re: North Koreans in misery as cash is culled
Not unexpected though in a country like North Korea.
Offline
#4 2009-12-03 20:14:55
- BullionBench
- Member
- From: SE Queensland
- Registered: 2009-09-10
- Posts: 70
Re: North Koreans in misery as cash is culled
... So long as they went about their stacking very quietly...
http://cluborlov.blogspot.com/ Very interesting character- Dmitri Orlov
Offline
#5 2010-02-02 15:46:21
- bungo
- Member
- From: Melbourne
- Registered: 2009-07-08
- Posts: 39
Re: North Koreans in misery as cash is culled
It's amazing how little coverage this has gotten in the mainstream media.
Offline
#7 2010-02-05 22:41:42
- goldpelican
- Administrator
- From: Melbourne, Australia
- Registered: 2009-06-30
- Posts: 3451
Re: North Koreans in misery as cash is culled
North Korea purges currency official
NORTH Korea has purged a senior Communist Party official for his role in the disastrous currency revaluation that has triggered social unrest and threatens famine, according to reports in South Korea.
Offline
#8 2010-02-08 18:43:14
- Lord Dragon
- Silver Stacker
- From: Perth, Australia
- Registered: 2009-08-14
- Posts: 357
Re: North Koreans in misery as cash is culled
By "purge" do they mean like with a bullet?
Beware of he who would deny you access to information, for in his heart he dreams himself your master.
Online
#10 2010-02-09 10:26:05
Re: North Koreans in misery as cash is culled
There is a new article on this today: http://www.smh.com.au/opinion/politics/ … -nn9m.html
Offline
#11 2010-02-09 11:00:55
- chimpanchu
- Silver Stacker
- Registered: 2009-08-07
- Posts: 350
Re: North Koreans in misery as cash is culled
Eventually all other nations will follow suit. I asked Bob Chapman once, how bad Australia and New Zealand will be when all financial hell broke loose. He said, he expect AU and NZ to be only half as bad as US and UK. BUT if US is going to be like Zimbabwe, half as bad is BAD.
"Politicians are like diapers, they need to be changed often."
Offline