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SEOUL, South Korea - North Korean leader Kim Jong Il moved early this month to wipe out much of the wealth earned in the past decade in his country's private markets. As part of a surprise currency revaluation, the government sharply restricted the amount of old bills that could be traded for new and made it illegal for citizens to have more than $40 worth of local currency.
According to two Web-based groups with sources in the North, that limit was set Monday at 100,000 won, which at current black-market rates amounts to $40. All North Korean currency that individuals possess in excess of that amount becomes worthless under the revaluation.
Amid widespread protests, the limit was raised to 150,000 won in cash and 300,000 won in bank savings, according to DailyNK, an online news organization that has informants in the North.
"I worked like a dog for two months for the winter, but the money became useless paper overnight," a resident of Sinuiju, a city that borders China, was quoted as saying on the Web site of Good Friends, a South Korea-based aid organization with informants in the North.
Originally posted by crisko
reply to post by BlubberyConspiracy
The article did state that the northern border was being reinforced to stop increased defections into China.
I really wonder how much more the people of North Korea can take before they snap.
Originally posted by crisko
I do not think the current regime will survive for long after Kim kicks the bucket.
Originally posted by BlubberyConspiracy
I've got a feeling that 2 political parties will form.
1) DEAR LEADER
And I've got a feeling the NKorean govenment will be doing lots of killing soon.
More people will attempt to escape to South Korea.
More action at the DMZ.
Originally posted by Moodle
if any one of you is american you should be slapped in teh face for pointing at north korea. you retards ahve been getting raped by your govt/banks for the last 100 years and you're talking about how bad NK is for teh riots taht are about to ensue.
AT LEAST THEY RIOTED AND DIDN'T TAKE IT BENT OVER LIKE YOU SORRY SACKS!
it's just too funny watching you brainwashed mindless frock heads laugh at someone else while your'e being royally torched for mroe than you're worth by the people that you're expecting to HELP nk. and by help i mean kill, of course.
you wimps will be the same bleeding heart half hippy wanna be's that will tell us all how money is the root of all evil but the instance someone talks about lessening the amount of money in population (in a seemingly fair way) you start crying about your rights.
it's just disgusting watching you fence hoppers stitch your pants up every timeyou catch the barbed wire.