A Solution For the Currency Crisis
A Solution For the Currency Crisis
The initial suggestion in this article pertains to progressive slot machines. Some of the casinos in Seoul offer this sort of game including Seoul Max, Lotte Card World and the Oriental Casino. You will need to pay a little entrance fee to use these machines. Once you place your bet, the computer tells you whether to win or lose. If you win, you get to keep what you have bet but if you lose, you are from it. These kind of progressive casinos in Seoul provide a mix of games including baccarat, video poker, roulette, craps, blackjack, and much more.
The second suggestion concerns making deposits. In order to withdraw from these casinos, residents need to pay certain charges. For instance, foreigners can withdraw money by paying a surcharge to the embassies. residents can make deposits in person or use the charge card provided upon entry.
Some Korean online casinos usually do not accept major currencies. Residents of Korea who plan to play Korean casino must make deposits within their local currency equivalent. Most of the local residents are used to exchanging their won for won monies at home so that they may convert this amount into currency at the casino. Many foreign players make deposits in the local currency to avoid conversion issues when traveling back again to Korea.
A third suggestion would be to limit the number of cash to be withdrawn from the websites of the Korean casinos. This is also true for residents of a number of the cities in Korea. A number of the cities such as Ulsan, Cholsan, Suwon and Hakdo hold restrictions against 바카라 people who want to withdraw too much cash from the casino. Some of the national and international airlines as well as banks in Korea usually do not accept most of the bank cards that are issued in the country.
The four suggestions noted above could be used to limit the amount of money that a foreigner player can withdraw. This would prevent currency manipulation by the Koreans at the casinos, which may favor the local vendors on the national companies. The Korean government would form free enterprise zones from coast to coast where the locals would be the main investors. Besides these zones, the north-korean leadership could levy a tax on goods imported from other countries like the western world and Japan.
Since the north-korean government has been very hostile to america and its allies before, the locals of the Korean casinos might try to bribe the workers of these companies into helping them install the currency exchange rate cap. When the cap is implemented, the quantity of foreign currency which can be withdrawn would drastically reduce. Most of the time, the workers of the companies would agree to just work at a lower wage as a result of risk of losing their jobs. These occurrences are a direct result of the lack of free enterprise zones in the north-korean leadership. Therefore, if the United States wants to protect its citizens from currency manipulation, they would need to institute a policy like the one proposed by the Korean government.
The south-korean government must also institute some policies like the northern ones in order to curb the capital outflow which is causing problems for the locals of the Korean casinos. A similar strategy would work in the form of a currency trade deficit quarantine area, which limits the number of imports and exports from the region. In the case of the casino case, the Koreans will be required to have a quota for the amount of guests that they allow into the casinos on any given day. If the south-korean authorities feel that the number of foreigners is too high, they could force the owners to allow only local Koreans to be allowed into the casinos.
In conclusion, the current economy in the Korean Peninsula may force the north-korean leadership to check to the international community for assist in dealing with their currency crisis. North Korea has an interest in coping with its currency issues since the value of the ROK’s dollar is roughly two to three times higher than the dollar of america. Therefore, the tourists that visit the north-Korean leadership will have an interest in trying to benefit from this weakness in the dollar by making deposits within their local currency. This would be a good thing for the local residents of the Korean peninsula. Unfortunately, the north-korean government seems to be unwilling to do anything relating to this currency issue. Hopefully, this can change soon.