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No More USDollars For Cubans  
User currently offlineTACAA320 From , joined Dec 1969, posts, RR:
Posted (10 years 2 months 4 days 11 hours ago) and read 1511 times:

According with a new ordinance from Castro, no more US Dollars will be legally allow to have for Cubans in the island [since November 8th., 2004]. They are getting rid of its dependancy in such currency.

They also want to strenght the use of the Cuban Peso, and depend more on the Euros [from the tourists coming from the old continent, instead the green bills].

Informed early today by Cnnenespanol.com/television

13 replies: All unread, jump to last
 
User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 1, posted (10 years 2 months 4 days 11 hours ago) and read 1505 times:

Makes sound economic sense. The US dollar's value is decreasing, apparently because many oil countries are switching to the euro for their export payments. Plus it must be tricky to liquidate US dollar assets from Cuba owing to the US embargo, whereas there is no embargo from Europe. Many Eastern European countries have switched their standard hard-currency to the Euro from the dollar, and Montenegro has converted entirely to Euros.

User currently offlinePhotopilot From Canada, joined Jul 2002, 2826 posts, RR: 18
Reply 2, posted (10 years 2 months 4 days 10 hours ago) and read 1486 times:

Let's get the FACTS straight.

The US dollar WILL NOT become illegal in Cuba.

What is happening is that Cuba is changing the usage of currency within Cuba.

All tourists must now use the Convertible Peso which has an exchange value of = to US $1.00. This is used in all the hard currency shops, hotels, restaurants etc.
There is also the Domestic Peso valued at approx 24 to the Dollar. However this domestic peso is for the use ONLY of Cubanos, not people from outside.

There will be a 10% surcharge on the conversion of any US dollars to the Convertible Peso. However, there will be NO SURCHARGE on any conversion of other world currencies such as the Pound, Swiss Franc, Canadian Dollar, Euro etc. Only American currency will be devalued, but will still be allowed to be used in Cuba if you want to pay the 10% devaluation. If not, simply use any of the other fine world currencies.

Frankly, it's about time the Cubans droppe the fast-fading US dollar in favor of other more stable world currencies.

Steve


User currently offlineTACAA320 From , joined Dec 1969, posts, RR:
Reply 3, posted (10 years 2 months 3 days 23 hours ago) and read 1441 times:

Photopilot


Thanks for putting the facts straight.

By the way, I don't have any intention to spend a penny in Cuba during Castro regime.

Thanks again.


User currently offlineIowaman From United States of America, joined May 2004, 4435 posts, RR: 6
Reply 4, posted (10 years 2 months 3 days 22 hours ago) and read 1436 times:
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Cuba needs to be nuked along with Iraq, Afganistan, and N. Korea IMO.

User currently offlineDamirc From Slovenia, joined Feb 2004, 726 posts, RR: 7
Reply 5, posted (10 years 2 months 3 days 21 hours ago) and read 1432 times:

Iowaman?

For what - for being?

D.


User currently offlineAvt007 From Canada, joined Jul 2000, 2132 posts, RR: 5
Reply 6, posted (10 years 2 months 3 days 20 hours ago) and read 1425 times:

Damirc- I always find it useful to check the users profile before taking them too seriously.
Iowaman- I'd suggest reading up on Cuba, perhaps even trying some non-American sources before you damn them all to a fiery death.


User currently offlineDamirc From Slovenia, joined Feb 2004, 726 posts, RR: 7
Reply 7, posted (10 years 2 months 3 days 20 hours ago) and read 1422 times:

Avt007 - point taken  Smile

D.


User currently offlineJGPH1A From , joined Dec 1969, posts, RR:
Reply 8, posted (10 years 2 months 3 days 16 hours ago) and read 1406 times:

Re: I always find it useful to check the users profile before taking them too seriously.

Too true - if it was up to the Teen Pentagon on this forum, anywhere in the world without 999 cable channels, a Mickey D's on every block and a Keynesian market economy would be reduced to a charred smoking sheet of glass.


User currently offlineMerC From Sweden, joined Dec 2003, 590 posts, RR: 2
Reply 9, posted (10 years 2 months 3 days 16 hours ago) and read 1398 times:

Cuba needs to be nuked along with Iraq, Afganistan, and N. Korea IMO.

 Insane Yeah sure



It's Scandinavian
User currently offlineAirplay From , joined Dec 1969, posts, RR:
Reply 10, posted (10 years 2 months 3 days 12 hours ago) and read 1379 times:

This is a serious issue for the US. As I have mentioned many times before, I seriously believe that the invasion of Iraq and the constant US presence in Saudi Arabia is primarily based on the desire to firmly establish the US dollar as hard currency in oil trade.

Many other countries have converted to the much more stable Euro. The effect of trillions of US dollars being liquidated as countries disolve their US dollar accounts in favour of the Euro could have dire consequences for the US economy that is already weakened by poor domestic policy.

Cuba needs to be nuked along with Iraq, Afganistan, and N. Korea IMO.

I agree. Then that friggen Disneyworld would be closed from the radioactive fallout...

 Wink/being sarcastic




User currently offlineRT514 From , joined Dec 1969, posts, RR:
Reply 11, posted (10 years 2 months 3 days 11 hours ago) and read 1371 times:

Thanks for the information, Photopilot.

Ouch, the US dollar sure has suffered several setbacks as of late but what goes up must come down, I guess. It had always seemed strange to me that US dollars were in such wide use in Cuba anyway.


Cuba needs to be nuked along with Iraq, Afganistan, and N. Korea IMO.

Iowaman: Having lived in the US midwest myself, I seem to recall some people saying the same thing about Iowa!  Laugh out loud


User currently offlineL-188 From United States of America, joined Jul 1999, 29840 posts, RR: 58
Reply 12, posted (10 years 2 months 3 days 3 hours ago) and read 1339 times:

The dollar theory on the liberation of the Iraqi people is about as humorous as all of the Kennedy assination theories.

As far as Cuba goes, hey he probably slipped on a greenback when he fell last week.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineTACAA320 From , joined Dec 1969, posts, RR:
Reply 13, posted (10 years 2 months 1 day 2 hours ago) and read 1311 times:

The most affected one is not the US Dollar, is the Cuban people (living in the island) receiving dollars from their relatives in Miami in particular or anywhere else in general.

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