Aug 24, 2013

Very rich North Koreans, and Singaporeans, potentially.

N. Korea's mineral resources: potentially worth $9.7 tln

North Korea population: 25 million. The mineral worth  is $388,000 per citizen.

If this amount is put into a fund similar to the Alaska Permanent Fund, the citizen dividend per citizen per year will be mindbogglingly huge.

Even a 5% return means a citizen dividend of almost $20,000. This will come true only if North Korean becomes a citizen-ownership democracy (The Democratic People's Republic of Korea ).

In comparison, the Singapore reserve is reportedly at least $800 billion, which is about $250,000 per citizen.

While North Koreans have to dig out their minerals, Singaporeans have the money already in the reserve. And the reserve is growing very very fast, even though Singapore has zero minerals.

The potential citizen dividend is equally mindbogglingly huge.

Again, this will come true only if Singapore becomes a citizen-ownership democracy

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