North Korea Revalues its currency

[ajax]

http://www.timesonline.co.uk/tol/new...cle6940482.ece

It would appear that two zeroes were knocked off the value of the won, plus limits imposed on how much "old" currency can be exchanged for "new" currency:

Exchange 100 old notes and get one new, "revalued" note. Oh, yeah and you can only exchange 150,000 old notes, the rest is toast.

Isn't government manipulation of paper fiat currency great, what could possibly go wrong?

[Al-Mumit]

Aww crap, I KNEW getting my dollars changed to Won was a bad idea!

DAMN YOU JIM KRAMER, YOUR ADVICE BLOWS!

[King 5.45]

Just be glad that you aren't Vietnamese.

Could you imagine reevaluating your đồng and realizing that it just doesn't stack up against harder currencies?










I'll be here all week! Don't forget to tip your waitresses!

[mcmcallister]

HAHAHA damn 10 characters

[dc dalton]

http://www.timesonline.co.uk/tol/new...cle6940482.ece

It would appear that two zeroes were knocked off the value of the won, plus limits imposed on how much "old" currency can be exchanged for "new" currency:

Exchange 100 old notes and get one new, "revalued" note. Oh, yeah and you can only exchange 150,000 old notes, the rest is toast.

Isn't government manipulation of paper fiat currency great, what could possibly go wrong?

Just wait until the EXACT same thing happens to the US dollar (and don't think it can't)

[D10]

It appears that the Euro-Dollar rate is changing every day and not for the better.
Was 1 Euro 1.48 last week....today it is almost 1.51. Meaning that our economy seems to slide of further.

Just wait until the EXACT same thing happens to the US dollar (and don't think it can't)

With the tempo it goes now it would not surprise me one bit.

[mcmcallister]

[mjfletcher]

Just be glad that you aren't Vietnamese.

Could you imagine reevaluating your đồng and realizing that it just doesn't stack up against harder currencies?










I'll be here all week! Don't forget to tip your waitresses!

Damnit, buttons broke.

[granuale]

The entire country is a giant concentration camp. So you go from starving with no heat and no freedom one day, to starving with no heat and no freedom the next day + some currency changes. Doesn't seem like a big deal to me.

[ehidle]

Just wait until the EXACT same thing happens to the US dollar (and don't think it can't)

The entire country is a giant concentration camp. So you go from starving with no heat and no freedom one day, to starving with no heat and no freedom the next day + some currency changes. Doesn't seem like a big deal to me.

Both QFT...

Can't rep either of you though... gotta spread the love...