Skip to comments.N. Korea sells gold in sign of imminent economic collapse: source
Posted on 12/10/2013 7:31:59 PM PST by rdl6989
SEOUL, Dec. 11 (Yonhap) -- North Korea has begun to sell large amounts of gold to China in a bid to tide over its economic crisis, multiple sources familiar with North Korea affairs said Wednesday.
We’re pretty much doing the same thing.
Yes, thanks for posting this.
Gold or METH amphetamine ? NOKOs know what’s best.
Only the Blue Meth will do. Time bring out Heisenburg,
How could a communist workers’ and peasants’ paradise have an economic crisis?
They have been in economic straits for years
They should have sold about 2 years ago.
How do you sell gold?
Wouldn’t gold be more valuable to a country than whatever they exchanged it for?
NK TV news report on removal of Uncle Jang
How does a pile of rubble collapse?
When you are starving, food becomes more valuable than gold.
Why? Is that where Rodman gets his bling ?
Can’ eat gold.
I would guess there is always enough food for the leaders.
“They have been in economic straits for years”
Maybe since the Fed has now cornered the market on counterfeiting the USD, it has hit the norks where it hurts.
This country has been living under economic collapse for years. The only thing that has kept them afloat is their constant threat of nuclear warfare. This threat has been their way of getting the west to give them the sustenance to stay alive until the next winter winds begin to blow and their next nuclear threat.
NK is the biggest foreign counterfeiter I think
North Korea collapse inevitable, new report says
Did little Kim eat all the food again?
North Korea Economy Watch
THE NORTH KOREAN ECONOMY: COLLAPSE, STASIS OR
(Yes, I know this is the Leftist thinktank Brookings Institution but they might offer some valid insights.)
The Persistence of North Korea
They use to fly in plane loads of Big Macs from China for the top leaders
A report from three months ago says the collapse of NK is not a matter of ‘if’ but ‘when’.
is another good one
I have read that Iran is also a big counterfeiter of U.S. $100 bills. They are so good that they cannot be detected except possibly by serial numbers.
We owe Iran big time for many, many reasons. It is one of the few countries I would be happy to see nuked.
If North Korea had an economic collapse... how would we know?
Do we have a satellite for that?
Seriously... how would we ever know that the world’s lowest-ranking closed “economy” “collapsed”?
“The only thing that has kept them afloat is their constant threat of nuclear warfare. “
how can that be? bill Clinton and madeline notalright got them to agree to no nukes in exchange for wheat.
you don’t suppose bill failed, do you.
They have been in famine for a couple years now. They are always in a state of economic collapse.
Something very bad must have happened for this alarm to go out.
With at least two countries doing this, either China is going to own the world by next summer or will be in as bad shape as everyone else.
>> It is one of the few countries I would be happy to see nuked.
heh... curiously, most of the few nations I would be happy to see nuked are Iran and its near neighbors.
There’s just something about that part of the world (cough: Muhammed) that makes it unattractive “with extreme prejudice”.
I remember being shocked to learn during the Clinton years that North Korea was the largest recipient of American foreign aid.
I would bet against long odds that it did nothing to slow their nuclear program but instead helped it.
I feel sorry for the citizens of North Korea. There but for the grace of GOD...
But I would love to see Kim and his henchmen terminated. And if they rot in hell afterwards, well...
It wasn’t just wheat, the US-South Korea-Japan provided North Korea with 2 lightwater reactors in exchange for their agreement. But as a Nork General said “That’s your agreement, not ours”
It sounds like the uncle was preparing a coup, and the written reason for his firing nearly came out and said that (i.e factionalism).
There is no specific reason North Korea needs to sell off their gold reserves because they mine a fair amount. This story has been in the wind for several months.
“how would we ever know that the worlds lowest-ranking closed economy collapsed?”
Cognac sales would be down 400%
Better be careful...he already ate a bunch of Giant Rabbits...
Kim Jong Il: Top 10 weird facts about N Korea's late leader ...
www.globalpost.com In-depth series: North Korea, what's next?
Dec 19, 2011 - To get things going, he sent a batch of 12 giant rabbits to North Korea, but was shocked to hear they were eaten at Kim's birthday banquet that ...
I wonder if there is a market for artillery and shells? I have heard that they have one of the world’s largest supply.
Probably few countries would want it tho.
Citizens uneasy at news of purge
It’s North Korea. One doesn’t really know what it is a sign of. Perhaps it is a sign that North Korea is simply moving its gold to China in preparation for some action that could endanger it such as a real strike against the South or an oddball missile at Tokyo.
They might only technically be “selling” the gold. They may be paying for the importation of necessities with it because they have no cash.
Another 20 years of ‘Rat control in DC and we’ll find out right here.
There may not be or the leaders are looking at shortages that will affect them personally. Ole Kim may be looking at being thin in the near future. Then again you don’t know what they are cooking in the Leader’s kitchens. Those executed Advisors and relatives may not be going to waste.
Good, because Dennis Rodman is a pretty big eater.
Dennis probably brought food with him. They likely had several attractive Korean girls for him to rape. It wouldn’t be his first time.
I can believe it!
The 100 bills that scared the government into currency changes came in about twenty years ago. They were so good the federal reserve couldn’t detect them. All had different serial numbers and they were printed on the same rag paper we use.
A guy busted for drugs blew the whistle. They didn’t believe the money was counterfeit when he told them.