How do we know an additional financial shock will hit Korea in March 2009? Because Finance Minister Kang Man Soo says These aren’t the droids you’re looking for, the same tactic he used to such success in staving off the September 2008 financial crisis.
Prepare for Coming March 2009 Financial Crisis
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I’d like to know how deeply Seoul was involved in the yen-carry trade. It’s gotta be rough borrowing money, putting it into housing or derivatives, and then getting caught in the meltdown.
“Kang Man Soo says “These aren’t the droids you’re looking for”
LOL!
or…the Trilateral Commission and their lackeys say “These aren’t the droids you’re looking for”. Who has the wherewithal to buy gold when it was low, and now that the Engineered “crash” has happened, sell it and buy stocks low for the coming “recovery”? Flame on.
The March Financial Collapse scenario is from a Korean Internet Doom and Gloom ID named “Minerva”. He’s got the entire Korean internet buzzing. There are lot of followers who think he’s right on the money. He has not revealed himself as to who he is, so there’s a lot of speculation about this mysterious character. He says he is a former brokerage worker in his 50’s. His predictions which proved to be right include the American sub prime mortgage negatively affecting Korea, plunging the won. He also correctly predicted the collapse of Lehman Brothers. He has gained a lot of followers on the internet and the rumors and speculations swirling is worsening the panic.
From the article:
“Earlier, Vice Finance Minister Kim Dong-soo told a radio program that the March crisis scenario is based on “little evidence or substance,” but added that the government will closely monitor the movement of Japan-linked capital.”
So yes, they will because they are worried and exposed.
It’s prudent to keep a close eye during this entire financial crisis as it unfolds, no matter if it’s just rumor. If South Korea is exposed, then we would be hearing some grumblings, an article or two, from the creditor nation Japan. Anyone seen any kind of movement regarding this?
Koreans believing online rumors? Are you sure?
Though dated, this article gives some good background information about the Korean exposure to Japanese capital.
http://www.atimes.com/atimes/Korea/IB22Dg01.html
Japan could play hardball, but I don’t think it is in their interest to do so.
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