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North Korean Leader Kim Jong Il Has Died Aged 70, South Korea On Emergency Footing

Tyler Durden's picture




 

Just out on Yonhap:

  • North Korea says its leader Kim Jong-il has died.
  • N. Korean leader died of fatigue at 8:30 a.m. Dec. 17 during train ride: KCNA

From Daily Yomiuri:

  • Cause of North Korean leader Kim Jong Il's death is said to be a stroke.

And Reuters confirms:

  • NORTH KOREA STATE TELEVISION SAYS KIM JONG IL HAS DIED

Great. More geopolitical uncertainty. Because as the Arab Spring has shown us there is nothing quite as stable as a transitory military government to fill a power vacuum (also see Thermidorian reaction during the French Revolution).

As expected the South Korean response is immediate.

  • S. Korean gov't shifts to emergency footing on news of N.K. leader's death

South Korean on emergency alert following the news:

South Korea's Joint Chiefs of Staff (JCS) on Monday placed all military
units on emergency alert following the news of North Korean leader Kim
Jong-il's death.

 

The JCS said it called an emergency meeting
of officials handling crisis management and operations just after noon
Monday, after the North Korean media reported Kim's death.

Some more from Reuters:

North Korean leader Kim Jong-il died on Saturday on a train trip, a tearful state television announcer, dressed in black, reported on Monday.

 

The announcer said that the 69-year old had died of physical and mental over-work on his way to give "field guidance".

 

He had suffered a stroke in 2008, but appeared to have recovered.

 

The reclusive state had begun the process of transferring power to his son Kim Jong-un, believed to be in his late 20s.

And Yonhap:

North Korean leader Kim Jong-il, who ruled the communist nation with an iron fist while pursuing nuclear weapons programs, has died, state media said Monday. He was 69.

 

Kim, who took over North Korea after his father and national founder Kim Il-sung died in 1994, "passed away from a great mental and physical strain" during a train ride at 8:30 a.m. on Saturday, the Korean Central News Agency said in an urgent dispatch.

Bloomberg chimes in:

  • A govt statement called on North Koreans to “loyally follow” his son, Kim Jong Un
  • Kim, 70, died on Dec. 17 of exhaustion brought on by a sudden illness while on a domestic train trip, the official Korean Central News Agency says
  • Kim probably had a stroke in August 2008 and may have also contracted pancreatic cancer, according to South Korean news reports
 

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Mon, 12/19/2011 - 02:20 | 1993376 merizobeach
merizobeach's picture

Fidel's still around, but Raul is the guy in the box.  You may need a two-for-one.

 

Personally, if another dictator has to bite the dust in the next two weeks, I'll hope for (albeit former dictator) Cheney.  I'd love to see the whole Bush clan wiped out, too.  Uh oh, now I can't stop!  I want every R-pres candidate (except Paul, of course) taking a dirt nap by tomorrow...tonight, I mean!  Maybe a quick HAARP-quake could knock that peace prize off the top shelf and on to Obummer's crown.

Mon, 12/19/2011 - 02:28 | 1993387 merizobeach
merizobeach's picture

Dammit!  I knew I'd forgotten one...  DIE, (the) bERNANK, DIE!!!

Mon, 12/19/2011 - 03:02 | 1993418 delacroix
delacroix's picture

mubarak

Sun, 12/18/2011 - 23:10 | 1992827 s2man
s2man's picture

"More geopolitical uncertainty."

Yup. 'Nuf said.

Sun, 12/18/2011 - 23:10 | 1992828 user2011
user2011's picture

Year 2011 is a bad year for dictators...

Mon, 12/19/2011 - 00:42 | 1993198 Jena
Jena's picture

Especially ones in sunglasses.

Sun, 12/18/2011 - 23:10 | 1992830 DormRoom
DormRoom's picture

where are the nukes???? 

Sun, 12/18/2011 - 23:11 | 1992838 Tortfeasor
Tortfeasor's picture

and the gold.

 

Sun, 12/18/2011 - 23:33 | 1992952 A Lunatic
A Lunatic's picture

And the Karaoke machines.

Mon, 12/19/2011 - 00:14 | 1993094 Randall Cabot
Randall Cabot's picture

And the poontang.

Mon, 12/19/2011 - 00:40 | 1993191 knukles
knukles's picture

Golf. 
And here I was all ready for a match game with the little fucker after that Glorious Round where he stayed top of the Leader Board all day.
Shit.

Mon, 12/19/2011 - 00:55 | 1993233 Animal Cracker
Animal Cracker's picture

is that the successor?

 

Sun, 12/18/2011 - 23:11 | 1992832 navy62802
navy62802's picture

Ah, the fate which awaits us all.

BTW - Kudos to ZH getting this story out so quickly.

Sun, 12/18/2011 - 23:11 | 1992835 Rover
Rover's picture

There goes the best golfer in the world...

Sun, 12/18/2011 - 23:29 | 1992938 Golden Boy
Golden Boy's picture

... and best music composer. 

Sun, 12/18/2011 - 23:44 | 1993006 Ahmeexnal
Ahmeexnal's picture

And don't forget his hair!

Mon, 12/19/2011 - 01:23 | 1993289 Element
Element's picture

He had the sexiest glasses ... has anyone informed Hans Blix?

Mon, 12/19/2011 - 01:31 | 1993298 akak
akak's picture

You obviously don't remember Wojciech "I wear my sunglasses at night" Jaruzelski, 1980s leader of Poland, and of notorious martial law-period infamy:

https://lh4.googleusercontent.com/-SJIfLg_OcJ0/TXY_x8W-9bI/AAAAAAAAdB8/m...

 

(and look at that --- he was a Boy Scout too!)

Mon, 12/19/2011 - 01:43 | 1993322 Element
Element's picture

Damn ... I forgot that guy ... he always reminded me of Davros off Dr. Who ...

Sun, 12/18/2011 - 23:11 | 1992837 frostfan
frostfan's picture

Just mentioned the rumor on CNN and  trying to confirm

Sun, 12/18/2011 - 23:11 | 1992839 tekhneek
tekhneek's picture

Kim Jong Il: Now you see, the changing of the worrd is inevitabre!
Lisa: I'm sorry, it's what?
Kim Jong Il: Inevit, inevitabre.
Lisa: One more time.
Kim Jong Il: [shouts] Inevitabre! Things are inevitabrey going to change! Goddamnit, open your fucking ears!

Sun, 12/18/2011 - 23:22 | 1992906 tekhneek
tekhneek's picture

Best tweet so far: "Blimey Kim Jong Il died. For you stupid people who don't keep up with current affairs, she was the president of North Korea."

Mon, 12/19/2011 - 00:01 | 1993065 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

LOL!

Mon, 12/19/2011 - 00:43 | 1993201 knukles
knukles's picture

Crying funny.
You're not supposed to do that when I've got bronchitis.
Worse than finding out how badly I am out of shape getting tried and winded from a wank.

Mon, 12/19/2011 - 01:11 | 1993274 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

That's pretty funny too!  You must be about my age...

Mon, 12/19/2011 - 01:25 | 1993293 Element
Element's picture

Dude ... too much info

Mon, 12/19/2011 - 01:17 | 1993247 akak
akak's picture

North Krorea --- that's like, between Syrious and Eye-ran, right? 
I know it's one of them terrist Axes of Evil, anyway.

Fight 'em over there so we don't have to fight 'em over here!

USA!  USA!  USA!  USA!

Bachman/Palin 2012!

Mon, 12/19/2011 - 00:23 | 1993145 chump666
chump666's picture

lol

 

Sun, 12/18/2011 - 23:12 | 1992846 JPM Hater001
JPM Hater001's picture

I am sure whoever takes over will be just as reasonable and intelligent...ahem, and as good a golfer (Obama will want to play a round soon I am sure).

All is good in the world.

Sun, 12/18/2011 - 23:13 | 1992849 q99x2
q99x2's picture

Hope my wife doesn't find the nukes. She is at war with me today and may use them. No this is not a coded message.

Sun, 12/18/2011 - 23:14 | 1992851 navy62802
navy62802's picture

No more prostitutes for Kim Jong Il. Now all he has is maggots eating him all up instead of Asian sluts.

Sun, 12/18/2011 - 23:45 | 1993012 Ahmeexnal
Ahmeexnal's picture

He had a predilection for scandinavian women.

Rumor has it half of norway slept with him.

Sun, 12/18/2011 - 23:48 | 1993018 navy62802
navy62802's picture

Can't lay any blame there. Scandinavian women are smokin hot.

Mon, 12/19/2011 - 00:26 | 1993128 Hedge Fund of One
Hedge Fund of One's picture

Well, that wasn't a swipe against Kim - it seemed more directed at the Norwegian sluts with the bad taste to sleep with him. 

Mon, 12/19/2011 - 00:21 | 1993136 quacker
quacker's picture

And they didn't even know it.

Mon, 12/19/2011 - 00:49 | 1993214 Monedas
Monedas's picture

The Legend begins !  Why don't you make a baloon of him for Macy's Thanks Giving parade !

Sun, 12/18/2011 - 23:14 | 1992853 sabra1
sabra1's picture

so, his son seems to be a nice dict... er, guy! give him a chance! just to prove how much of a nice guy he is, a south korean missile launch should suffice!

Sun, 12/18/2011 - 23:14 | 1992854 endicott glacier
endicott glacier's picture

Is that good or bad for South Korea? that may have some impact

Mon, 12/19/2011 - 00:47 | 1993207 knukles
knukles's picture

It's Fucking Great!
Just think of all the starving malnourished short (like 4'2" short)excess labor in the North can be sent to work in Newt's coal mines in place of American child labor.

Save the Childern Donations Accepted Here.

Mon, 12/19/2011 - 01:18 | 1993283 Things that go bump
Things that go bump's picture

They supply their own slave drivers/guards, you know, to make sure none of the only thing they make for export escapes.

Mon, 12/19/2011 - 01:44 | 1993323 robertocarlos
robertocarlos's picture

i'M SHORT AND i CAN SURVIVE ON ONE EGG A DAY. Damn Caps. The NKs and I will survive a food shortage.  What happens to the average American when Mcd's closes?

Mon, 12/19/2011 - 03:45 | 1993446 Animal Cracker
Animal Cracker's picture

We BBQ the little people.

Sun, 12/18/2011 - 23:16 | 1992855 A Lunatic
A Lunatic's picture

Now who the Hell are we going to kill on POTUS Eve 2012 in order to avert attention from the stolen election?

Sun, 12/18/2011 - 23:38 | 1992968 PD Quig
PD Quig's picture

Lady Gaga works for me

Mon, 12/19/2011 - 00:35 | 1993182 goldfish1
goldfish1's picture

mother freeking genius she is

Sun, 12/18/2011 - 23:15 | 1992857 Caviar Emptor
Caviar Emptor's picture

omg...what should I wear to the funeral? Should I bring any gift? 

Sun, 12/18/2011 - 23:24 | 1992914 stant
stant's picture

the gift a 5 yr old mercedes

Sun, 12/18/2011 - 23:27 | 1992929 NuckingFuts
NuckingFuts's picture

In lue of flowers, Kim requested donations be sent to the Little Man Syndrome Research Fund in his name. That's Il with one L not two.

Mon, 12/19/2011 - 00:28 | 1993161 Hedge Fund of One
Hedge Fund of One's picture

Gray and anything gray.

Sun, 12/18/2011 - 23:16 | 1992860 Dr.Evil
Dr.Evil's picture

Man! You guys were the first! Cant belive it!

Mainstream media sucks!

Sun, 12/18/2011 - 23:18 | 1992874 Let them eat iPads
Let them eat iPads's picture

CNN has it.

Sun, 12/18/2011 - 23:20 | 1992888 Dr.Evil
Dr.Evil's picture

Yes, now!

Sun, 12/18/2011 - 23:17 | 1992869 Let them eat iPads
Let them eat iPads's picture

All hail Kim Jong-un or as he's known in North Korea, "tubby".

Sun, 12/18/2011 - 23:22 | 1992903 DoChenRollingBearing
DoChenRollingBearing's picture

A Communist Monarchical Dynasty!  Three generations Red!

Sun, 12/18/2011 - 23:17 | 1992871 kekekekekekeke
kekekekekekeke's picture

this is fucking nuts

Sun, 12/18/2011 - 23:38 | 1992982 max2205
max2205's picture

My guess is that the family wanted to take advantage of the estate tax this year vs chance next years rules. Damn you Congress

Sun, 12/18/2011 - 23:18 | 1992882 sabra1
sabra1's picture

at least his son was born in north korea, isn't that so oBLAHma?

Sun, 12/18/2011 - 23:19 | 1992885 Hedgetard55
Hedgetard55's picture

He will rise again in three days.

Sun, 12/18/2011 - 23:22 | 1992902 Let them eat iPads
Let them eat iPads's picture

And then fall again when the Viagra wears off.

Sun, 12/18/2011 - 23:24 | 1992912 GOSPLAN HERO
GOSPLAN HERO's picture

I worship Crom.

And you?

 

Sun, 12/18/2011 - 23:30 | 1992940 NuckingFuts
NuckingFuts's picture

I worship Crom also but he laughs at me.

Sun, 12/18/2011 - 23:48 | 1993026 Mike2756
Sun, 12/18/2011 - 23:21 | 1992887 Banksters
Banksters's picture

The DEAR LEADER is DIEDED? Tomorrow I wear my NK Pantsuit in solidarity.

 

BITCHEZZZZ!

Cheers

Mon, 12/19/2011 - 02:39 | 1993399 akak
akak's picture

Hillary already beat you to it.

Sun, 12/18/2011 - 23:22 | 1992890 stant
stant's picture

chinas on top of it. no worry they got a new  boggy man there to pull up the slack when needed

Sun, 12/18/2011 - 23:24 | 1992893 digalert
digalert's picture

Strike another little dictator off the United Nations NATO Association of Assassins for Peace (UNNAAP) hitlist.

Sun, 12/18/2011 - 23:22 | 1992900 navy62802
navy62802's picture

I weep at the state of our national media. Not even the leading story. This apparently falls behind the Tebow-Brady football game.

Mon, 12/19/2011 - 00:53 | 1993230 Monedas
Monedas's picture

There's gonna be some long faces on CNN !

Sun, 12/18/2011 - 23:22 | 1992901 LasVegasDave
LasVegasDave's picture

Long Potassium iodide

short bibimpop

Sun, 12/18/2011 - 23:22 | 1992904 chump666
chump666's picture

anyone holding AUD shorts/puts etc.  Well done. Have a nice x-mas.

Sun, 12/18/2011 - 23:24 | 1992913 bugs_
bugs_'s picture

tired and ronry

Mon, 12/19/2011 - 00:26 | 1993156 TheFourthStooge-ing
TheFourthStooge-ing's picture

...and his new set of gorf crubs just arrived.

 

Sun, 12/18/2011 - 23:24 | 1992916 IcarusOnFire
IcarusOnFire's picture

In which Goldman Sachs office did his son work in?

Icarus

Sun, 12/18/2011 - 23:25 | 1992918 Royal Fleming
Royal Fleming's picture

Fuck that monkey. Will Fedex deliver piss to his grave for me?

Sun, 12/18/2011 - 23:35 | 1992962 NuckingFuts
NuckingFuts's picture

I am sure several million N. Koreans will do the job for you when they get the chance.

Mon, 12/19/2011 - 00:04 | 1993079 Tortfeasor
Tortfeasor's picture

You don't understand N K very well do you

Mon, 12/19/2011 - 00:55 | 1993234 Monedas
Monedas's picture

OWS will wear black armbands !

Sun, 12/18/2011 - 23:26 | 1992922 williambanzai7
williambanzai7's picture

Just yesterday I was reviewing Banzai7s horoscope for 2011 and wondering about the image in the lower right.

BERNANKIAC

Sun, 12/18/2011 - 23:48 | 1993022 SilverIsKing
SilverIsKing's picture

Looks more like Heaven than Hell. Needs some retouching.

Mon, 12/19/2011 - 02:04 | 1993358 Dooud
Dooud's picture

I see your point, if Kim (Neo) is really " the one", he should be flying around all over the matrix any second now

Sun, 12/18/2011 - 23:26 | 1992923 Mike2756
Mike2756's picture

BBC had it. Wtf happened to the yen? All the way down to 127.

Sun, 12/18/2011 - 23:29 | 1992927 chump666
chump666's picture

you'll be missed http://www.youtube.com/watch?v=jdug6yHJB40&feature=related

probably a repost...can't find other scenes. the baldwin one etc

Sun, 12/18/2011 - 23:27 | 1992932 Let them eat iPads
Let them eat iPads's picture

You are worthress Arec Barrwin!

Sun, 12/18/2011 - 23:30 | 1992942 chump666
chump666's picture

hahaha...i can't find that one

Sun, 12/18/2011 - 23:50 | 1993031 Mike2756
Mon, 12/19/2011 - 01:07 | 1993260 chump666
chump666's picture

hahahahaha ah man, forgot how funny that movie was.  And yes they even have a go at the French.

classic

Sun, 12/18/2011 - 23:27 | 1992933 americanspirit
americanspirit's picture

Died of fatigue. OMG - the poor little guy. Done worked hisself to death. Sob.

Sun, 12/18/2011 - 23:50 | 1993033 Mike2756
Mike2756's picture

That's funny, most of his people died of starvation.

Sun, 12/18/2011 - 23:28 | 1992936 Thunder_Downunder
Thunder_Downunder's picture

+1 regional stability....

Sun, 12/18/2011 - 23:30 | 1992941 hivekiller
hivekiller's picture

Kim Jong long gon.

No cry. He die.

Sun, 12/18/2011 - 23:31 | 1992946 knicks3005
knicks3005's picture

I hear his son is as ruthless as they come...but i like that homes....i like that!!!

Sun, 12/18/2011 - 23:32 | 1992951 PunkSgt
PunkSgt's picture

These where Kim Jung Il final words. Dear capitalist pigs, http://goo.gl/CjXwz

Sun, 12/18/2011 - 23:35 | 1992964 Osmium
Osmium's picture

ES fighting to hold 1200

Sun, 12/18/2011 - 23:52 | 1993038 Mike2756
Mike2756's picture

I think it will, the u.s. is still relatively stable compared to the rest of the world.

Mon, 12/19/2011 - 00:39 | 1993189 WonderDawg
WonderDawg's picture

Yeah, "relatively" being the key word.

Sun, 12/18/2011 - 23:35 | 1992965 Scalaris
Scalaris's picture

 

 

Kim Jong-il's former cabinet should be rubbing their hands now.

They have an opportunity to put his son as a less than talented puppet head of state and for them to reap the even greater rewards from the influx of western corporations who will pry on North Korea's population, using them at first as a cheap labor, while in the process selling them the newly founded fruits produced by modern markets, gradually fabricating in this manner, the illusion of the inception of a middle class.

A North Korean oligarchy in its infancy, protected by capitalism and powered by cronyism. In return for their gold, of course.

Long Coca Cola + CheapMart

 

 

 

Sun, 12/18/2011 - 23:36 | 1992971 toadold
toadold's picture

Rising unrest in China. Iran rattleing sabres and having  to check official cars for surprises before they get in.  British and Eurps making military  plans in case thing go pear shape due to fianancial melt down. And etc. 

Knowing how dumb ass most US defense industry managers are I hate to reccomend them, but the way things are going they might be worth a punt on the long. 

 

Sun, 12/18/2011 - 23:36 | 1992972 knicks3005
knicks3005's picture

KIM JONG AIN'T GOT SHIT ON ME!!!!!!!!!

Sun, 12/18/2011 - 23:39 | 1992987 shinyindallas
shinyindallas's picture

The man was a mystery, an enema.

Sun, 12/18/2011 - 23:39 | 1992983 Rogier
Rogier's picture

Sounds like nice timing for Obama to invade and secure that second term. Oh wait, who's gonna pay for that one?

Sun, 12/18/2011 - 23:41 | 1992992 Cursive
Cursive's picture

I would have thought this would be bullish for the ES.  Hmm.....

Sun, 12/18/2011 - 23:41 | 1992993 Caviar Emptor
Caviar Emptor's picture

Wait a minute...is he Il or not???

Sun, 12/18/2011 - 23:43 | 1992999 wharfdaddy
wharfdaddy's picture

Obama got rid of another one!

Mon, 12/19/2011 - 01:00 | 1993245 Monedas
Monedas's picture

Obama is one !

Sun, 12/18/2011 - 23:43 | 1993003 DCFusor
DCFusor's picture

Couldn't happen to a more deserving guy.  Saw it on Bloomberg TV first, actually.

Sun, 12/18/2011 - 23:51 | 1993004 Joebloinvestor
Joebloinvestor's picture

Good riddance to the queery little runt.

And to think they sacrificed a perfectly good train station trying to get him.

Sun, 12/18/2011 - 23:45 | 1993008 Schmuck Raker
Schmuck Raker's picture

No more jumpsuit wearing dictators left to mock? A sad day. [sniff sniff]

Sun, 12/18/2011 - 23:58 | 1993056 Let them eat iPads
Let them eat iPads's picture

What about Hillary?

Mon, 12/19/2011 - 01:02 | 1993248 Monedas
Monedas's picture

Chavez likes orange jump suits !

Mon, 12/19/2011 - 01:11 | 1993267 akak
akak's picture

 What about Hillary?

Please!  We were of course only discussing the dickless ones.

Mon, 12/19/2011 - 01:31 | 1993305 azusgm
azusgm's picture

...and can she please change her hair back?

This chubby-cheeks-and-bald-head-painted-blonde look is not good.

She should fire her image consultant...pronto.

Mon, 12/19/2011 - 03:21 | 1993427 delacroix
delacroix's picture

jenny craig, ain't doin her any favors either.

Sun, 12/18/2011 - 23:47 | 1993015 Caviar Emptor
Caviar Emptor's picture

Kospi down over 4%. Hon Kong over 2%

Sun, 12/18/2011 - 23:53 | 1993040 Let them eat iPads
Let them eat iPads's picture

Dow, S&P futures also getting creamed.

Sun, 12/18/2011 - 23:48 | 1993019 Thunder_Downunder
Thunder_Downunder's picture

He's so roanery, so roanery...

Sun, 12/18/2011 - 23:50 | 1993032 Let them eat iPads
Let them eat iPads's picture

I'm So Ronery
So ronery
So ronery and sadry arone

There's no one
Just me onry
Sitting on my rittle throne
I work rearry hard and make up great prans
But nobody ristens, no one understands
Seems like no one takes me serirousry

And so I'm ronery
A rittle ronery
Poor rittle me

There's nobody
I can rerate to
Feel rike a bird in a cage
It's kinda sihry
But not rearry
Because it's fihring my body with rage

I'm the smartest most crever most physicarry fit
But nobody else seems to rearize it
When I change the world maybe they'll notice me
But until then I'rr just be ronery
Rittle ronery, poor rittle me

I'm so ronery...

Sun, 12/18/2011 - 23:55 | 1993045 IQ 101
IQ 101's picture

Now we will see if Kim Jong eel's son, Bill Von Ill makes it through the evening, or if ambitious generals decide to chop his head off for sport.

Sun, 12/18/2011 - 23:55 | 1993047 Stuck on Zero
Stuck on Zero's picture

So.  The war drums will be beating soon.  Of course, gold will go down tomorrow.

Mon, 12/19/2011 - 00:07 | 1993093 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Of course.

Mon, 12/19/2011 - 00:40 | 1993193 seek
seek's picture

Tomorrow? Down $10 already!

Mon, 12/19/2011 - 00:02 | 1993073 web bot
web bot's picture

So here's the real test of the future for North Korea...

IF his son has a brain in his head (he's been educated in Switzerland), he'd call in all of the top generals and have them shot on the spot. He'd then immediately announce that North Korea is backing away from it's nuclear weapons program. Using diplomatic channels, he'd open dialogue with the west, gain food and fuel guarantees and start unification talks with the south with a 5 year timeline. He'd then start to slowly release political prisoners and kick start economic trade in an attempt to move forward.

At least, that's what I'd do....

Mon, 12/19/2011 - 12:07 | 1994261 mjk0259
mjk0259's picture

One reason he won't - the Kim's have a national agency that monitors all the attractive young women, prevents then from having boyfriends and then picks the best for residency in their various mansions after being trained at dancing, massage, their particular sexual desires, etc. . They have a couple dozen in each of 100+ mansions. Unless he's gay, he's not going to give that up.

 

Mon, 12/19/2011 - 00:04 | 1993080 navy62802
navy62802's picture

Damn, this news really tanked futures. The Euro-Dollar has taken a bashing as well.

Mon, 12/19/2011 - 00:10 | 1993104 xela2200
xela2200's picture

According to Rickards, if the Euro stays below 1.30 and the Chine pegs to the dollar again then QE3 is assured. Therefore, don't sell your gold just yet.

 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/18_Jim_Rickards_-_This_Will_Send_the_Price_of_Gold_to_the_Moon.html

Mon, 12/19/2011 - 00:17 | 1993118 navy62802
navy62802's picture

Declining gold prices only mean "buying opportunity" for me. I will only trade my gold, not sell it. For me, gold is a hedge against the whims of fiat currency. I am fortunate enough to be able to purchase gold and other precious metals on the side, while existing on fiat currency. While I allow the PMs to accrue on the side, I am able to live off of my remaining fiat salary. Not many people in the US have that luxury. In the coming collapse, I anticipate that my savings (denominated in USD) will become worthless and that both my physical gold and silver holdings will be of utmost value. Unfortunately, 99% of Americans either don't believe this or dont' earn enough to purchase PMs (after they take care of their living expenses). This can only end in disaster.

Mon, 12/19/2011 - 00:22 | 1993144 Godisanhftbot
Godisanhftbot's picture

what is this fat currency people keep talking about?

Mon, 12/19/2011 - 00:44 | 1993203 NuckingFuts
NuckingFuts's picture

Phat currency.
/sarc

Mon, 12/19/2011 - 02:06 | 1993361 navy62802
navy62802's picture

fiat ... you know ... like the car.

Mon, 12/19/2011 - 00:44 | 1993202 goldfish1
goldfish1's picture

Clive Maund: "This being so it is clear that both gold and silver are in the late stages of large top areas from which they are both soon likely to break down, and also that a major deflationary episode is in the works that will see the still elevated broad stockmarket suffer a severe decline, probably similar to that which occurred in 2008."

 


Mon, 12/19/2011 - 01:14 | 1993278 akak
akak's picture

Clive, you so funny!

(about the so-called deflation, not a stock market decline)

Mon, 12/19/2011 - 02:01 | 1993354 pakled
pakled's picture

Clive has had to change his tone after no free updates for a while. He was calling silver to the moon after the big drop, and was dancing on the grave of all the bullish analysts for missing the drop that he called. Made a pretty big deal about those who were "wrong"... the more he beat his chest and emphatically call for the PMs to Phoneix from the ashes, the less likely his call seemed credible. Sometimes arrogance is good contra indicator

Mon, 12/19/2011 - 00:04 | 1993082 doduhdew
doduhdew's picture

I find it funny that today (12/19) is the south korea president's birthday.  lol.

Mon, 12/19/2011 - 00:08 | 1993096 Let them eat iPads
Let them eat iPads's picture

Happy 70th Lee!

What a gift.

Mon, 12/19/2011 - 00:06 | 1993084 xela2200
xela2200's picture

"N. Korean leader died of fatigue at 8:30 a.m. Dec. 17 during train ride: KCNA"

Can people die of fatigue like horses?

In other words, they are saying that He is dead, and the cause is none of your goddam business. Maybe, it is fatigued as in 71 year old man trying to have sex with a couple of 20 something girls while riding a moving train. It is good to be the king.

Mon, 12/19/2011 - 00:06 | 1993090 XitSam
XitSam's picture

Scary stuff. Anybody interested should read Nothing to Envy: Ordinary Lives in North Korea. Kim Il-sung was considered by the people to be a demi-god, they literally could not believe it when he died. And he remains the president of the country. The people are told that if they just believe hard enough, he will come back to life. Really. Both great and dear leaders were considered experts in everything. If one inspected say a chicken farm, and suggested that washing the chickens would make them lay better, it was done, and newspapers would report on the brilliant solution the leader had provided. These are the most brainwashed people in the world.  This is a taste.

Mon, 12/19/2011 - 00:24 | 1993150 Godisanhftbot
Godisanhftbot's picture

a nation of schmucks?

Mon, 12/19/2011 - 01:23 | 1993288 XitSam
XitSam's picture

Schmucks only because their whole lives they have been lied to.

A lady that survived the starvation, crossed the river into communist china. She was wandering around, not knowing where to go.  She saw the gate to a farm and just inside was a bowl of rice on the ground. She thought that's strange, who would leave a bowl of rice on the ground? As she considered eating the rice, she heard a dog bark and realized: The dogs in china eat better than the people in North Korea.

Mon, 12/19/2011 - 02:44 | 1993403 akak
akak's picture

Alternate ending: the people in North Korea better eat the dogs in China.

Mon, 12/19/2011 - 14:14 | 1993660 web bot
web bot's picture

Hey Mr. A... I've got an early Christmas present for you...

Mr. A smiles and accepts gift box... and opens it up to find a card, handwritten by the younger Mr. Webbot.

On the card, this is what it says...

 

There's this person on ZH:

  • Smart-ass, Keynesian mouth piece
  • He's Canadian
  • Lives in Montreal
  • Always speaks about pensions
  • And always has something to say about Greece
  • His first name is Leo
  • His ZH name is BATZ

 

Have fun with your new toy! Merry Christmas Mr. A!

Mon, 12/19/2011 - 00:31 | 1993171 topcallingtroll
topcallingtroll's picture

Stockholm Syndrome.

Mon, 12/19/2011 - 00:10 | 1993101 sbenard
sbenard's picture

Couldn't have happened to a nicer dictator! 
 
Make room in hell! Perhaps he could also take his soul mate in the White House, the American Dictator, with him, and thereby spare us the tyranny!!

Mon, 12/19/2011 - 00:09 | 1993102 Flocking swans
Flocking swans's picture

Did he transfer his License to Il to his kid...

Mon, 12/19/2011 - 00:16 | 1993117 GMadScientist
GMadScientist's picture

Great...now it's just an axis of minor malfeasance.

 

Mon, 12/19/2011 - 00:20 | 1993129 obelisks
obelisks's picture

" died of physical and mental over-work "

 

please!!!!  watching CNN and drinking your favourite cognac while the people starve

must be so strenuous

Mon, 12/19/2011 - 00:20 | 1993131 Kurtieboy
Kurtieboy's picture

Ok boys and girls here you go!

http://www.youtube.com/watch?v=SXQ8unERVTE

Mon, 12/19/2011 - 00:21 | 1993134 adr
adr's picture

If this is what the end of 2011 looks like, I can't wait for 2012. Wholly shit we're fucked.

Mon, 12/19/2011 - 00:21 | 1993137 Godisanhftbot
Godisanhftbot's picture

a terrible loss

Mon, 12/19/2011 - 00:22 | 1993139 scrappykoala
scrappykoala's picture

Dude got Re-Hypothecated.

It happens :(

Mon, 12/19/2011 - 00:22 | 1993140 scrappykoala
scrappykoala's picture

Dude got Re-Hypothecated.

It happens :(

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