Desperate North Korea has exported more than 2 tons to gold hungry China over the past year to earn US $100 million. Even in tough times during the Kim Il-sung and Kim Jong-il regimes, North Korea refused to let go of its precious gold reserves.
Chosun media reports that “a mysterious agency known as Room 39,
which manages Kim Jong-un’s money, and the People’s Armed Forces are
spearheading exports of gold, said an informed source in China. “They
are selling not only gold that was produced since December last year,
when Kim Jong-un came to power, but also gold from the country’s
reserves and bought from its people.”
This is a sign of the desperation of the North Korean regime and also
signals China’s intent to vastly increase the People’s Bank of China’s
Data on the International Monetary Fund’s website shows Kazakhstan’s
assets rose 1.4 tons to 104.4 tons last month, Turkey’s gold reserves
gained 6.6 tons to 295.5 tons, Ukraine’s rose 1.9 tons to 34.8 tons.
While the Czech Republic’s bullion assets fell 0.4 ton to 11.8 tons, data shows.
Nations bought 254.2 tons in the first half of 2012 and may add close
to 500 tons for the year as a whole, the London-based World Gold
Council said earlier this month.
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