Dec
27
How much is that cash in your pocket worth? How’s your credit limit from one day to the next? The top of the pyramid will let you know, as North Korea’s president Kim Jong Il recently did. The Washington Post reports (In N. Korea, a strong movement recoils at Kim Jong Il’s attempt to limit wealth) on the effects of a currency revaluation:
From the article: As part of a surprise currency revaluation, the government sharply restricted the amount of old bills that could be traded for new and made it illegal for citizens to have more than $40 worth of local currency.