9.2 Tons of Gold Replaces North Korea’s BDA for 3 Years

Daily NK
Han Young Jin

Singaporean newspaper “Singapore Lianhe Zaobao” reported, “Though the recent BDA issue ended in shambles, Macao and BDA did face some trials” and “With the U.S. able to strangle any county with international financial sanctions, the BDA issue rang alarm bells for illegal acts occurring throughout the world.”

The Zaobao’s online site reported on the 24th, “7~8 small scale family run banks in Macau banks are faced with the threat of closing down as BDA concluded that these banks were acting as North Korea’s ‘laundering black money.’ Macau has been caught in this political issue after being targeted as a place dealing North Korea’s money laundering.” The newspaper also analyzed that the international community had questioned China’s morals.

“All these things have occurred because BDA agreed to supplement North Korea’s gold into dollars” the Zaobao added.

It continued, “During the last 3 years, BDA has exchanged 9.2tons of North Korean gold into $120 million” and “Even last year, North Korea exported gold and silver to Thailand and exchanged $38 million.”

The site reported, “The U.S. is empowering the international financial market and as a result, no financial marketer can oppose the willpower of U.S.” and consequently financial transactions between North Korea and London have ceased. In the past, North Korea had been placing at least 1ton of gold on London markets.

The amount of trade that occurs weekly in London’s gold market equals $2000~3000 million, which in turn equates to 43% of the world’s gold trade. The newspaper pointed out that North Korea’s detachment from London’s markets means that North Korea has now been excluded from the world’s mainstream market.

In the end, even China endured finite investigations as a result of BDA and North Korea’s funds and is now acting in a cautious manner added the report.

In all, the report analyzed that North Korea’s annual production of gold to reach 6 tons.


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