2019.12.13 (금)

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ENGLISH

KIM JONG-UN’S DEPLETING DOLLAR RESERVE



A Liberty Korea Post source inside North Korea informs that Kim Jong-un’s treasury is being depleted due to the continuing US sanctions against trading activities. Many insiders surmise that Kim Jong-un was dragged out to JSA to meet Trump on June 30 for this very reason. 

Kim Jong-un has been known to hold dollar currency in front of the elites at the time of his succession. The dollar currency was popular among the elites, and Kim Jong-un used the dollars to woo them. For example, Kim passed out cash cards for high ranking military generals to the tune of $1,500, a monthly stipend as an incentive for their loyalty. However, he has decreased the limit for its usage, as well as restricting the number of the recipients of the debit card.  

The trading officials and foreign currency merchants have been struggling immensely due to the US sanctions. Their business volume has fallen to rock bottom, denying them the opportunity to remit dollars to Kim’s treasury, not to mention their worries about their own survival. 

They had high hopes for Xi Jinping’s visit on June 20, only to be disappointed because his visit did little to boost Kim’s reserve, according to multiple resources. They also hoped for relief from sanctions when Trump visited Panmunjom for a meeting with Kim Jong-un on June 30. 

There is no relief from sanctions in sight, causing some of the trading officials and foreign currency merchants to voice their opinion, in private, that Kim Jong-un should render his surrender as soon as possible.

Kim’s series of summits—starting with Trump in Hanoi in February, his summit with Putin, his summit with Xi Jinping, his summit with Trump in Panmunjom—were not productive. In the meantime, Kim’s treasury is emptying along with his ability to keep his elites happy.


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