TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer analyzes the market reaction to North Korea's latest missile launch.

"People want to own the yen but it's obvious that we have to worry about what happens if North Korea tests a missile and it doesn't go over Japan and it stops in Japan so I question the yen's reserve currency status here," Cramer noted.

Cramer said gold is the true reserve currency in situations like this. 

 

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