DPRK 1950 Economy Bond

Source here. Hat tip to a reader.

According to the source, the reverse side of the document reads:

The Government of the DPRK issues an Economic Development Bond for democratic people in the amount of 50, 100, and 500 won for a total amount of 1,500,000,000 won with the period of ten years, from October 1, 1950-October 1, 1960.

Reading further, however, it becomes obvious that this is not a bond at all (in the traditional sense)–it is more like a very complicated lottery ticket. ┬áThis method of issuing “bonds” was probably copied from the Soviets, and as of 2008, the DPRK still practiced this method of domestic “bond” financing.

By the way, if you have any North Korean bonds you would like to sell, I know someone who is interested!

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