[Earthdweller]

Why did they do this to their currency?

[Starchoice]

To wipe out individuals who accumulated too much old money through “illegal” capitalist activities.

[AmericanInTokyo]

drastic currency revaluation a few days ago, and calling in all old notes, but giving crappy exchange returns for them as well as limiting amount that can be reconverted into new currency...effectively wiping out savings of many in the DPRK who had somehow managed to save. and p*ssing off a lot of people in North Korea as a result, coalescing in minor disturbances so far...to the extent anyone can get internal news. People are going into a buying panic and trying to buy as many goods as they can before the old currency goes out of validity.

[AmericanInTokyo]

Some would say this was to try to tackle inflation and increase DPRK officials' control over the already impoverished population. Not to mention, they want to reign in the activities of free markets that have sprung up across North Korea.

Kind of like what Obama promised (threatened) Joe the Plumber.

[Polynikes]

They did an effectively 100 /1 reverse split on their currency ie: 1000 won got you 10 won. They were cracking down on a black market that a lot of the food moved through. It looks like the old “juche”(self reliance) got a little too much for “Little Kim”. This is in a nation that will most likely be in a famine again by spring and people sell their children to each other for food and no I am not joking. Its easier when you don't have an emotional connection. Reports of cannibalism have been filtering out for years via defectors and escapees. North Korea is Hell on earth if you aren't “connected”

[bert]

They are teaching Obama a lesson in redistribution