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9/27/12

Roll up roll up, get yer luverley North Korean gold bullion

Via @michaelmccrae over in the WorldofTweet (nice man), your humble scribe raises an eyebrow at this report in the China Post, which tells of North Korea selling large lumps of gold to China. Here's an excerpt:


"The Chosun Ilbo daily quoted sources in China as saying that the impoverished communist state had cashed more than two tons of gold worth US$100 million in China over the past year.
“North Korea has been exporting not only gold ingots it had obtained from mines or stored in government agencies but gold trinkets it had collected from ordinary people,” an ethnic Korean businessman told the daily.
“North Korean trading companies in China have been cashing the gold in secrecy,” the source said. “For this purpose, North Koreans are compelled to sell gold trinkets to government authorities.” continues here

With gold breaking out in Euros today, I think China's getting the better end of this deal.