N. Korea sells gold in sign of imminent economic collapse: source

Yonhap ^ | Dec 11, 2013

[rdl6989]

SEOUL, Dec. 11 (Yonhap) -- North Korea has begun to sell large amounts of gold to China in a bid to tide over its economic crisis, multiple sources familiar with North Korea affairs said Wednesday.

[arthurus]

It’s North Korea. One doesn’t really know what it is a sign of. Perhaps it is a sign that North Korea is simply moving its gold to China in preparation for some action that could endanger it such as a real strike against the South or an oddball missile at Tokyo.

[arthurus]

They might only technically be “selling” the gold. They may be paying for the importation of necessities with it because they have no cash.

[BenLurkin]

Another 20 years of ‘Rat control in DC and we’ll find out right here.

[arthurus]

There may not be or the leaders are looking at shortages that will affect them personally. Ole Kim may be looking at being thin in the near future. Then again you don’t know what they are cooking in the Leader’s kitchens. Those executed Advisors and relatives may not be going to waste.

[Revolting cat!]

Prolly fool's gold (nothing personal, bud!) North Korea has world class alchemists who can create gold out of dirt (according to my uncle's ex who's a high level NK escapee!)

[UCANSEE2]

I would guess there is always enough food for the leaders.

Good, because Dennis Rodman is a pretty big eater.

[yarddog]

Dennis probably brought food with him. They likely had several attractive Korean girls for him to rape. It wouldn’t be his first time.

[ThanhPhero]

One of North Korea's biggest exports, right up there with nuke tech has been US$100 bills in shiploads to SEA. They are good enough that only the US Treasury possesses equipment that can detect them. It is enough to account for the inflation of the VN Đồng relative to the Dollar. I assume it does the same thing in Thailand and the other countries where dollars circulate. A few years ago the Aussies boarded a NORK ship that was dead in the water and found a hold full of export material. It was surmised? guessed? that it was headed to Indonesia.

[GeronL]

I can believe it!

[meatloaf]

The 100 bills that scared the government into currency changes came in about twenty years ago. They were so good the federal reserve couldn’t detect them. All had different serial numbers and they were printed on the same rag paper we use.

A guy busted for drugs blew the whistle. They didn’t believe the money was counterfeit when he told them.

[Revolting cat!]

“That wasn’t chicken Mistel Lodman!”

[GeronL]

Yep, no hard currency (besides counterfeit US dollars). Theirs is worth nil.

[RS_Rider]

Counterfeiting a worthless currency buys little Cognac.

[ThanhPhero]

How can anything be “down” 400%? If 100 bottles were sold before the decline would they be giving back 300 bottles after the decline?

[RS_Rider]

We live in fancy economic times...anything is possible.

[arthurus]

I don’t think China would accept US&100 bills from NK.

[yarddog]

During WWII the Germans got Jews out of concentration camps who were master engravers. They produced perfect pound notes but the British were still fairly successful using serial numbers and determining to which banks etc, the particular notes went.

The Germans Abwehr paid their spies in counterfeit bills which may not have been smart.

[Kozak]

Country’s sell gold all the time to accumulate foreign exchange reserves. In this case it will be Chi com Yuan. It’s like an old lady selling the family silver for a bag of groceries....

[GeronL]

They are trading gold for food I think, at outrageously high markup for the Chinese most likely

[GOPJ]

How could a communist workers’ and peasants’ paradise have an economic crisis?

LOL - good one Standing Wolf...