North Korea/Gold

[BigBagel]

http://www.nytimes.com/2010/06/10/wo...oreans.html?hp

An extreme case, I know, but the North Korean government's currency actions and the effect of those actions on the masses are a textbook case for owning gold. The story details people with soon to be worthless life savings running out the door to spend it on anything and everything. The wife of a party official is also interviewed. Hopefully she'll one day experience the wrath of those masses.

[aaron]

Re: North Korea/Gold

http://www.nytimes.com/2010/06/10/wo...oreans.html?hp
The wife of a party official is also interviewed. Hopefully she'll one day experience the wrath of those masses.

The wife of a party official was working as a waitress in China. You do know a waitress makes only a few dollars a day there, right?
Also, look at it from her perspective: They are poor and starving because other countries will not trade with them. She sees the Chinese (who have nukes) getting (relatively) rich. What would you think?

Moreover, I suspect there are hundreds of thousands of "party officials" in North Korea. They must learn what to say and what not to say to stay alive, just like the starving masses.

just saying

[BigBagel]

Re: North Korea/Gold

The wife of a party official was working as a waitress in China. You do know a waitress makes only a few dollars a day there, right?
Also, look at it from her perspective: They are poor and starving because other countries will not trade with them. She sees the Chinese (who have nukes) getting (relatively) rich. What would you think?

Moreover, I suspect there are hundreds of thousands of "party officials" in North Korea. They must learn what to say and what not to say to stay alive, just like the starving masses.just saying

Point taken. I was reacting her characterization of those folks trying to hold it together by making a buck in the markets as "bad".

[sishya]

Re: North Korea/Gold

In the article

On paper, he said, a Chongjin state construction company employs him. But the company has few supplies and no cash to pay its employees. So like more than a third of the workers, the worker said, he pays roughly $5 a month to sign in as an employee on the company’s daily log — and then toil elsewhere.

....
Such payments, widespread at smaller state companies, are supposed to keep companies solvent, said one 62-year-old woman who is a trader in Chongjin. Even a major enterprise like the city’s metal refinery has not paid salaries since 2007, she and others said, though workers there collect 10 days worth of food rations each month.
“How would the companies survive if they didn’t get money from the workers?” she asked without irony.

workers pay company. it is really an irony. looks like taxation.
Reading the article, one can feel how lucky we are not to experience a North Korean life.

[touchring]

Re: North Korea/Gold

In the article


workers pay company. it is really an irony. looks like taxation.
Reading the article, one can feel how lucky we are not to experience a North Korean life.

Kim can continue terrorizing the North Korean people because China wants the DPRK to be separate from South Korea, but the plan will backfire because with Kim in power, North Korea is heading for implosion, only a matter of when and not if.

If North Korea implodes into anarchy, former North Korea government officials will want to surrender to South Korea. At that point, China maybe forced to send its army to occupy the North to prevent the North from rejoining the South, and the world will be at a very precarious situation.

[touchring]

Re: North Korea/Gold

Point taken. I was reacting her characterization of those folks trying to hold it together by making a buck in the markets as "bad".

As one who comes from a place where propaganda is used for political purpose, you'll be surprised how some people can become influenced to believe the wrong as right, and even the imaginary as real, and once they adopt a belief, they will never change their idea even if you provide the evidence that will prove otherwise.

[bpr]

Re: North Korea/Gold

If North Korea implodes into anarchy, former North Korea government officials will want to surrender to South Korea. At that point, China maybe forced to send its army to occupy the North to prevent the North from rejoining the South, and the world will be at a very precarious situation.

Is China this tied to the North? They seem like a very small insignificant satellite, if anything, considering the size of the PRC. I find it hard to believe that North Korea would do anything contrary to the demands of the PRC.

[touchring]

Re: North Korea/Gold

Is China this tied to the North? They seem like a very small insignificant satellite, if anything, considering the size of the PRC. I find it hard to believe that North Korea would do anything contrary to the demands of the PRC.

I think you have to differentiate between Kim and North Korea. For all we know, Kim might be using the threat of war to negotiate for cash and supplies from China, sort of a hostage situation. That sinking of the South Korean warship might be a message for China - that Kim is fully capable of starting a war if the situation warrants.

If China succumbs to the threats and send aid to North Korea, the aid will go to the army and secret police first, and this will consolidate Kim's power over the military and security apparatus. As long as Kim's position is secure, there will be peace, albeit at the expense of the North Korean people.

[mikedev10]

Re: North Korea/Gold

where from touchring? not that doesn't apply to most everywhere to some extent! :p