North Korea revalues currency, destroying personal savings (GOLD ROCKETS)
Wednesday, December 2, 2009 TOKYO -- Chaos reportedly erupted in North Korea on Tuesday after the government of Kim Jong Il revalued the country's currency, sharply restricting the amount of old bills that could be traded for new and wiping out personal savings. The revaluation and exchange limits triggered panic and anger, particularly among market traders with substantial hoards of old North Korean won -- much of which has apparently become worthless, according to news agency reports from South Korea and China and from groups with contacts in North Korea. The currency move appeared to be part of a continuing...
Original Article: Forum: News/Activism
Tags: Anger, Contacts, Currency, Exchange Limits, Gold, Hoards, Kim Jong Il, Market Traders, News Agency, North Korea, North Korean, Personal Savings, Revaluation, Rockets, South China, South Korea, Tokyo Chaos