TACAA320 From Costa Rica, joined Aug 2004, 7307 posts, RR: 51 Posted (5 years 1 month 1 week 4 hours ago) and read 405 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
'Science without religion is lame, religion without science is blind'. Albert Einstein
JGPH1A From , joined Dec 1969, posts, RR: Reply 1, posted (5 years 1 month 1 week 4 hours ago) and read 399 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.
Photopilot From Cuba, joined Jul 2002, 1691 posts, RR: 18 Reply 2, posted (5 years 1 month 1 week 3 hours ago) and read 380 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.
Avt007 From Canada, joined Jul 2000, 2067 posts, RR: 7 Reply 6, posted (5 years 1 month 6 days 13 hours ago) and read 319 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.
JGPH1A From , joined Dec 1969, posts, RR: Reply 8, posted (5 years 1 month 6 days 9 hours ago) and read 300 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.
Airplay From , joined Dec 1969, posts, RR: Reply 10, posted (5 years 1 month 6 days 5 hours ago) and read 273 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...
RT514 From , joined Dec 1969, posts, RR: Reply 11, posted (5 years 1 month 6 days 4 hours ago) and read 265 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!
TACAA320 From Costa Rica, joined Aug 2004, 7307 posts, RR: 51 Reply 13, posted (5 years 1 month 3 days 19 hours ago) and read 205 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.
'Science without religion is lame, religion without science is blind'. Albert Einstein
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