N. Koreans recoil over Kim's bid to limit wealth

N. Koreans recoil over Kim's bid to limit wealth

www.msnbc.msn.com

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.

(visit the link for the full news article)

If you limit the wealth your people can hold, you can limit the power and influence the can wield. It's good 'ol Kim is limiting that wealth to $40 a person. Wow!!

However, that decision did result in riots, even in North Korea.

I do not think the current regime will survive for long after Kim kicks the bucket.

www.msnbc.msn.com
(visit the link for the full news article)

Incredible how people let their governments use them like cheap bitches. And this is a global truth.

Looks like North Korea will destroy itself from within. That would save a lot of our people from dying.

Well, it appears we will get a front row seat to see what happens when one's monetary gain is limited by government. It would appear that the $40 limit (which is actually W100,000) has been increased in response to protests.

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.

Source: www.washingtonpost.com...

That is a 'generous' increase to $60 cash and $120 savings. So it would appear that Kim is already concerned about the possibility of problems resulting from this new policy. And well he should be:

"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.

Source: www.washingtonpost.com...

Now, remember that this sort of thing is a pretty good analog to increased taxation; in both cases, the ability of people to prosper is hindered. So, if one wished to make a comparison, the result will be what would happenn should taxation exceed the ability of most to pay...

Popcorn anyone?

TheRedneck

I've got a feeling that 2 political parties will form.
1) DEAR LEADER
2)Tea Party

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.

*Popcorn*

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.

There truly is no limit to the ways Kim Jong Il will degrade his own countrymen. It's not enough to starve, terrorize, and subjugate them; they need to have what little leverage they have in their harsh reality completely devalued.

I know some people don't believe it, but there really is evil in the world and this man is its very face.

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.

Not forgetting the border guards have an each way bet, taking bribes in Yuan as well as the local currency, they too will not like to see their savings under the bed become worthless.

So I guess it becomes a matter of indoctrination? Are they so brainwashed that they will put the Party before self interest?

I wonder if this decision was influenced by recent events in Iran?

Originally posted by crisko
I do not think the current regime will survive for long after Kim kicks the bucket.

I, for one, will mourn his suicide accomplished by automatic weapons fire from across the room.

Originally posted by BlubberyConspiracy
I've got a feeling that 2 political parties will form.
1) DEAR LEADER
2)Tea Party

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.

*Popcorn*

Change number 2 to necktie party.
Dear leader may get a free gift of a rope.

So much for the north invading south Korea.
Just set up a pay station in south Korea and pay the north Koreans to change sides.
Likely would be cheaper then fighting a war.

Meh. People get the government they deserve. If they don't like it, they should change it.

reply to post by ANNED


I think you are onto something there...

At first my thought is this guy kim is really annoying.

Then again, ANNED is right. He may be inadvertently weakening his grip.

That society will be imploding; you could only contain human anger for too long.



[edit on 28-12-2009 by Uesugi Kenshin8]

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 wathcing you fence hoppers stich your pants up everytimeyou catch the barbed wire.

reply to post by Moodle


Give me a break. Our pseudo-capitalist system, for all its weaknesses, still generates more wealth per person than any other on Earth. While those in North Korea starve and are persecuted horribly, we here enjoy remarkable freedoms and prosperity.

But if you, the America hater, want to paint us as somehow equivalent to North Korea, then go right ahead. I am sure everyone will believe you.

reply to post by BlubberyConspiracy


Nope. Kim will keep swimming circles in his little fishbowl until he finally finishes melting into a puddle of pale and somewhat hairy goo. The North Korean military will attempt to seize control, and chances are good that either a new strongman will rise, or reconciliation will be made with the South.

Honestly i'm giving both outcomes a 50% chance.

Why has the CIA not aggravated riots and an overthrow? I wonder what would happen if we dropped pamphlets and weapons into the streets.

The NK goverment is evil, evil to a limit, people may have it bad there but there are still some freedoms. I would place it better than the natzis from WWII. It is the worst for today's standards. What would be worst than North korea today?

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.

Oh shut up your a complete imbecile...

Americans Rioting at this point would be like going dirty Harry because your a millionaire and somebody pick pocketed you for a G while you were drunk for the night...

Yeah we got robbed, yeah there is some seriously stupid policies and maybe it's time to start getting a little pissed off...

But comparing our situation as worth throwing your life on line vs a North Koreans situation is impossibly stupid...

Last I checked I had free Internet to gather knowledge from Millions of sources, hundreds of radio stations and tv stations, money to go out and have a good time every weekend a house full of computers and gear and in our "police state" i've managed one misdemeanor in 40 years...and trust me I behave like a jerk off all the time...

When I wake up, Eat a Fetus with a pair of dog balls on the side as my days meal, walk outside and see a picture of Obama labeled as Supreme Deity of the Nation and I'm told I'm allowed 40.00 i'll grab my pitch fork too...

Maybe even somewhere between here and that point...

But right now the US could fix all of this economic crap by halving the defense budget and we'd still be spending more money on defense than any nation on Earth...

So give me a break... I have a pitcher of Egg Nog waiting, a Flat screen Tv playing movies and a decent Car and enough free time to sit here and bs with the likes of you...

When i'm suffering in a genuine way like they are talk this kind of nonsense and make those insults...

Until then comparing the life of a Person here to a person in NK is an Intellectual Darwin Award winner...








[edit on 29-12-2009 by mopusvindictus]