It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
North Korea has reportedly began selling large amounts of gold to China in order to avoid an imminent economic collapse. According to South Korean newspaper Chosun Ilbo, North Korea sold more than 2 tons of gold last year to raise around $100 million. North Korea is estimated to have around 2,000 tons of gold reserves worth over US$8 billion.
The decision to dispose of North Korea's gold has sparked fears it could be trying to ward off an "imminent economic collapse". Such a move clashes with founding leader Kim Il-sung's order to never sell the country's gold.
First the north Koreans admit unicorns are real and now they are selling their gold???? Those wacky Koreans......I never know what their doing.
I'm no economist but why, if the economy is about to collapse, sell your gold for cash? Cash would be worthless in an economic collapse, right?
If a collapse was imminent, wouldn't they hoard the gold? Sounds to me like China told them that if they want food, they need to pay for it.