North Korean Money Shift Sparks Violence (execution,open defiance,stroke,suicide)

WSJ ^ | 12/09/10 | EVAN RAMSTAD

[TigerLikesRooster]

North Korean Money Shift Sparks Violence

By EVAN RAMSTAD

SEOUL -- New reports emerged Tuesday of protests and deadly violence in North Korea as the country's authoritarian regime over the past week seized most of its citizens' money and savings via a new-currency issue.

Open Radio for North Korea, a Seoul-based shortwave radio station that broadcasts news to the North, said police killed two men in Pyongsong, a market center outside of Pyongyang, on Friday after they divided their savings among a large group of people and urged them to exchange the money for them, attempting to get around the government's limit.

Chosun Ilbo, a South Korean newspaper, cited informants in the North in reporting that women working in the goods and produce markets of some towns "openly curse government authorities despite the risk of being arrested."

Those reports, and scrutiny of Pyongyang's human-rights violations, coincided with the arrival of an American envoy for a meeting with North Korean officials.

The reports suggest that North Korean officials may be experiencing more difficulty than expected in using the currency issuance to collar the expansion of private wealth in the country.

"They've tried to wind back the system, but they're potentially teaching the people that markets can't be controlled," says Shaun Cochran, head of Korea research at CLSA Asia-Pacific Markets, who published a report on North Korea's move.

[TigerLikesRooster]

Thanks AIT for heads up.

[TigerLikesRooster]

Ping!

[rae4palin]

Could this be an answer to decades of prayer? The beginning of the unravelling of this hell-ish regime.

[TigerLikesRooster]

Some incidents reported in SK media but not in foreign press yet(at least I haven't seen it) ---

A man borrowed money from another guy. He showed up and told the creditor that he will pay his debt in old bills because he borrowed in old money not the new one. The creditor got really upset. Violence ensued and one of them was killed(I forgot which one of the two.)

[Uncle Miltie]

Massive currency manipulation leads to civil unrest?

Don’t tell Bernanke.

[TigerLikesRooster]

It could. It has to coalesce in large organized protest. Let us watch and see how far this one goes.

[SpaceBar]

Imported cognac and japanese slave girls don’t just grown on trees you know.

[jiggyboy]

they divided their savings among a large group of people and urged them to exchange the money for them, attempting to get around the government's limit.

I think somebody here on FR came up with that idea a few threads back. Who knew it would be a summary-execution offense.

[rdl6989]

Who knew it would be a summary-execution offense.

In North Korea these days it sounds like just about anything could get a person shot.

[Greysard]

The beginning of the unravelling of this hell-ish regime.

If that happens and the regime falls ... what next? Anarchy, very likely direct military rule. And the country does have some nukes, however small; and they have plenty of permanent hostages just across the border.

Let's turn to recent history. Socialist rule ended in the USSR. Some republics, with deeper democratic roots and history, and with better educated population, immediately elected new parliaments, presidents, and went on as if nothing happened. But some other republics instead allowed *individuals* to seize power and use it to fulfill their personal ambitions - pretty much the whole group of Southern republics is in that category (and Chechnya, after Yeltsin removed all oversight there.) Many of these republics saw wars, poverty, tyranny.

I personally have no idea how to bring NK people to the light side of the Force. Many people were born under the dictatorship and never saw anything else. Foreign news are banned, so they hardly know what happens in the world. I'd say they are in very precarious position, set up for a major paradigm shift, if I may use those buzzwords. South Korea is on the opposite side of the scale, not necessarily a gentle Big Brother.

The regime in NK will definitely fall sooner or later. Even now attempts to install the son of Kim are causing grumble. It wasn't supposed to be a hereditary monarchy, but it is. I think the Army is aware of that, and will dump the Dear Leader and his son as soon as necessary. And the Army will not surrender its privileges unless all major decision makers are paid enough to just walk away and retire in better climate. That is an option.

[AmericanInTokyo]

The more BOSWORTH, (along with Sung Kim) from the US State Department make foolish, appeasing bullsh+t statements like they did today after groveling, go-to-the-enemy's location- kowtow talks in Pyongyang, to the effect that "I think we can work together" they are directly responsible for propping up this piece of crap DPRK regime and prolonging the suffering of the North Korean people who as a matter of fact are TRYING TO RISE UP, OBAMA, IF YOU HAVE NOT NOTICED THIS WEEK. HELLOOOOOOO!!!!????????

[AmericanInTokyo]

Yes, I am already getting reports in Japanese about deaths over it (devaluation) in the last few days in North Korea, in terms of altercations between parties here and there, as well as actual public executions of people as show to scare the people not to revolt. Executions only three or four days after being found guilty of currency violations.

[AmericanInTokyo]

North Korea officially changing the birthdate (year) of son number three (Kim Jong Un... Un Un UNNN!), in order to get him out of his twenties (reality) and make him into his 30s by the time Pop Chia Pet turns 70 and in time for the 100th anniversary of the Korean Workers Party, or so Japanese TV reported today.

[AmericanInTokyo]

Meanwhile, Kim Jong il enjoys his Italian yacht. Maybe he can hide out there with the blonde Romanians and the cognac with sonny boy #3:

[AmericanInTokyo]

Let’s all play “Spot the Chia Head” in the photo(s) above. ;-)

[TigerLikesRooster]

I think some in N. Korea are looking into Iraqi insurgency scenario when and if their regime is toppled and things get out of control They melt away into crowds and lay low until they find it ready to mount guerrilla campaign. They are studying IED's and other tactics Muslims used in Mid-East against U.S. and coalition troops.

That will give them some leverage to dictate the situation in N. Korea. For the rest of military (some one million,) they would rather not fight. They could bail out at the first opportunity they can find.

China would be also using them to get their say in Korean situation. We need to enlist help from ordinary people to flush them out. I think ordinary people have dim view of these creatures. Just like Romanians smoked out Securitate die-hards.

[Vehmgericht]

My first thought was “What a wonderful idea.” I am certain that American “economists” are watching this situation very closely. There are lessons to be learned. But how can they confiscate America’s wealth without causing unrest. Perhaps if it is done more gradually along with generous distributions of Koolaid.

[bert]

.....the country’s authoritarian regime over the past week seized most of its citizens’ money and savings......

coming to America in 2011

[bert]

You left out China. In china the oldways are being carefully folded and put in cabinets. A very gradual transition to something not really known is in process.

North Korea is the hegemon of China. China will ease in and control what ever happens. IMHO

[LonePalm]

Americans have more guns but I think the N. Koreans would have more desire to use them against the government.

Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)