...of North Korea. New cash is being printed, but there is a limit on how much old cash you can exchange. The move should eliminate in one swoop those that used the black market to become wealthy.
http://www.timesonline.co.uk/tol/news/world/asia/article6940482.ece

American government seen carefully taking notes(ha, no pun intended).

It's worth noting that amounts of more than $10,000 cash are already effectively banned here. Banks are required to report it to the government and it's subject to seizure by law-enforcement during traffic stops.

[Edited on December 2, 2009 at 3:48 PM. Reason : .]

12/2/2009 3:36:29 PM

I thought cash was already banned in America, isn't that why we have credit? /sarcasm

12/2/2009 3:50:39 PM

government, btw

12/2/2009 3:59:07 PM

this thread is neither interesting nor important enough to allow the use of so many asterisks.

12/2/2009 5:52:34 PM

sure it is, smc created it, surely it must be an important thread.

12/2/2009 5:54:13 PM

Quote :

"Banks are required to report it to the government and it's subject to seizure by law-enforcement during traffic stops."

I've read news stories about individuals with cash amounts sub 10000 being seized by Gestapo rural sheriffs or highway patrol. Since obviously somebody carrying $5000 cash is a drug dealer.

12/2/2009 6:09:50 PM

Tangentially related, but I've been fascinated with NK's widespread counterfeiting of $100 bills for a while now. It's crazy how massive their operation is.

http://www.vanityfair.com/politics/features/2009/09/office-39-200909?currentPage=all

12/2/2009 6:15:05 PM

$10,000? In reality it's MUCH less than that.

12/2/2009 8:02:54 PM

^^^ really? I've rolled around with $5000 in cash on numerous occasions.

12/2/2009 8:05:03 PM

Quote :

"The move should eliminate in one swoop those that used the black market to become wealthy."

I'll bet you 10,000 in new North Korean currency that the black market will continue to accept the previous currency

12/2/2009 8:06:49 PM

^Yeah, basically...

though it would be de-valued a bit. Kind of like having $50 in store credit isn't quite as good as having $50 in actual money.

They could name them Crimebux™

12/2/2009 8:53:47 PM

why do we still have paper money? might as well do everything electronically so it can be taxed and kept track of. The drug industry would be a lot harder to operate.


V people down there V
NOTHING GOOD WOULD BE LOST BY ELIMINATING CASH

[Edited on December 2, 2009 at 9:15 PM. Reason : except of course mint jobs]

[Edited on December 2, 2009 at 9:15 PM. Reason : b]

12/2/2009 8:56:36 PM

for someone who hates Obama so much, and based on some of your rantings, you sure have done an about face

12/2/2009 8:59:10 PM

Quote :

"why do we still have paper money? might as well do everything electronically so it can be taxed and kept track of. The drug industry would be a lot harder to operate."

The stupid is strong with this one.

12/2/2009 9:02:09 PM

^^^ You should buy this book on amazon.
http://www.amazon.com/Anarchist-Cookbook-C-066-William-Powell/dp/0962303208

Be sure to include your full name, address, telephone number and credit card information. Bonus points for posting a review that talks about "putting the power back in the hands of the people".

As a bonus with every purchase you get an extra frisking and evil eye every time you go to the airport from now on.

[Edited on December 2, 2009 at 9:13 PM. Reason : !]

12/2/2009 9:12:52 PM

^Interesting comments from the author. I had no idea it was written fresh out of high school, or that he now wishes it out of circulation. Huh.

Almost makes me want to write a bunch of naive bullshit to appeal to a specific counter-culture... it could be worth millions.

12/2/2009 9:17:47 PM

Just to make a note that the largest black marketers tend to use USD and Chinese RMB and will therefore not be impacted. The main victims are the smaller folks who trade in local markets to help supplement their food rations and those who, God forbid, saved money so that they could buy food during the winter. I think in part the strict limits were set by the government to clamp down on the growing capitalist markets.

12/2/2009 9:55:10 PM