2015-02-03

What Is Money?

Illegal Sale of ‘Double Portrait’ Lapel Pins Flourishes in North Korea
Ordinary North Koreans are illegally buying highly sought-after lapel pins of the reclusive country’s founder Kim Il Sung and his son Kim Jong Il and using them in lieu of cash to pay for accommodations, meals and drinks, sources inside the country said.

Low-level administrators who work for North Korea’s Workers’ Party and judiciary, university students, and members of the middle class who have money to buy the rare “double-portrait” pins are obtaining them illegally in local markets.

“With the double-portrait [lapel pin], people can take care of one day of room and board in other regions [of the country] or drink with their friends by using it when they need money,” said a source in Yanggang province, which is bordered by China to the north.

“In a restaurant or [when paying for] accommodations, the double-portrait is worth 20 Chinese yuan (U.S. $3.20),” he said.
Not only are these pins being used as money, but they are also serving as a way to preserve capital. Furthermore, even though the double portrait pins are only issued to officials, production of the pins has kept up with demand and the price has been falling......

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