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Monday, December 07, 2009

Anyone hear about this?

This seems to be flying under the radar - could it happen here?

The North Korean Army is on standby and ready to quell any protests against last week's drastic currency reform, Russian business daily Kommersant last Friday quoted diplomatic sources in North Korea as saying. The sources said authorities had ordered the Army to stand by as outrage grew in cities across the North, with critics describing the reform as daylight robbery.

North Koreans are panicking as all shops were ordered closed during the currency reform period and they can no longer use any money they have saved up. Foreign diplomats are meeting with North Korean authorities in efforts to persuade them to reverse the reform, the sources added. The North last week revalued the won at a rate of 100:1.

That sounds all bad.

Read more here.

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