It’s not enough that there is no freedom, no commerce, no electricity, and that millions in North Korea are slowly starving to death. No, to add to all that, Kim Jong Il and the gang of thugs who run the North Korean “government” have just frozen all cash transactions as its currency is de-valued at a ratio of 1 to 100.
The Times Online reports:
Shops and markets in North Korea have been closed and all cash transactions frozen after the Government’s shock announcement of a devaluation of its currency in an effort to crack down on the country’s burgeoning free-market economy…
There were reports of public outrage and confusion after the announcement of the measure, which requires North Koreans to swap existing won notes for new ones at an exchange rate of one to 100 — effectively knocking two zeroes off their value. Because of a cap of 100,000 won per family (£475 at the official exchange rate), anyone with significant holdings of cash will have their savings wiped out.
“Loud sounds of weeping in every house have not ceased since the news was released,” a South Korean website quoted an inhabitant of Sinuiju, a city on the border with China, as saying.
I’m sure that weeping was the very least of it.
The announcement was made on Monday via a closed-cable broadcasting system that is piped into all North Korean homes.
Eric Blair was nearly spot on in his presecient depiction, but was wrong in one small detail; it’s not Big Brother in North Korea, it’s “Dear Leader.” Dear God, what a travesty! Dear Leader is allowing his subjects to die in misery, squalor, hunger, and darkness.
“One of the worries our North Korean staff have is whether they will have enough food to get through to next week,” the manager of a foreign organisation in Pyongyang said. “Our employees have access to foreign currency but most people don’t and they could be in trouble.”
Perhaps President Obama could peddle some of his trademarked “Hope” and “Change” to the citizens of North Korea. If anyone could use it, they certainly can.