The warring squabble between US and Democratic People’s Republic (DPR) Korea continues to boil at higher temperature over months and keeps stirring fresh worries in the Northeast Asia.
The leadership of DPR Korea, or known as North Korea, under the young Kim Jong Un is preparing to declare warfare by his threatening words calling ‘the moment of explosion is approaching fast’.
Last year, the failure of rocket launch by DPR Korea invited widespread global humiliation but was ‘redressed’ by another successful attempt in December despite condemned by international leaders. Pyongyang reiterated it had merely put a satellite into orbit but on the contrary, US and South Korea insisted it was a disguise for testing ballistic missile technology.
Early this year, United Nations expanded sanctions as punishment to the North Korea. Meanwhile, young leader Kim vowed to conduct another nuclear test and experiment the long-range rockets covering the firing range of US territory.
Aftermath, the unease was injected into South Korea and United Nations since March when Pyongyang declared the armistice agreement that ended the Korean War in 1953 as invalid.
The one-sided scrap of this mutual agreement signed five decades ago has caused alarm and raised the guard of United Nation’s Security Council to higher levels against North Korea.
Currently, many criticisms arise amid international media on North Korea and its new leader Kim Jong Un. Some said he was too young to lead a nation of 25 million people, others said he was too keen to show off his power-grip on the party, military and state in one strong swoop.
While the elder Kim held the absolute power to rule the country in the past, international critics said the young Kim was more adamant to reign in three arenas in worker party, military and state affairs than just ‘ruling’ them, with the aid support from his uncle Jang Sung-taek, and family confident, Choe Ryong Hae – chief of the general political bureau of the Korea People’s Army.
Educated in the West, Kim Jong Un was initially believed to be a more approachable person by the international media.
Under his leadership, many used to think of world peace in better state or at least remained status-quo with the western nations. In fact, he had shown more willingness to speak publicly and even acknowledging the suffering of his own people in one of his speech.
Some said the declaration of war in the Northeast Asia could be rhetoric means to avert his impoverished nation and crippled economy. Unfortunately, the aggressive action of Pyongyang had erased many thoughts that the young Kim might be a good business partner in restoration of peace.
In the past two weeks, US had exhibited its military strength in the annual drills with South Korea. Aircraft were flown in with B-2 stealth bombers, Cold War-era B-52s and F-22 Raptor stealth fighters to setup defense in the regions. This military exercise had outraged the patience of North Korea and called for retaliation in case the cooked-up pressure blasts.
In our financial studies, past natural disasters like earthquakes, Tsunami, global virus had proven a flight into gold and precious metals. Financial meltdowns and economic collapse in all other economic regions might trigger flight of investments into US Treasury assets.
In the event of warfare involving US military participation, the Iraqi warfare in 2003 recorded the beginning spike of gold prices as safe haven.
If war erupts in Korea Peninsula in near future, it may be a worthwhile to search for bottom reversal in gold prices. This is always true when our global currencies are becoming ‘fiat papers’ with no limitations in printing monies.
Dar Wong is the Principal Consultant and Master Coach in APSRI. The expressions are solely his own. He can be reached at [email protected]