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Missouri Mule
Joined: 14 Oct 2004
Posts: 304
Location: Palestine, Texas
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| Posted: Sat Oct 30, 2004 12:30 pm Post subject: Cubans queue to ditch US dollars |
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Tightenting the screws on Castro. One way or another we are going to get that bastard.
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Last Updated: Friday, 29 October, 2004, 00:11 GMT 01:11 UK
Cubans queue to ditch US dollars
Cubans have been able to use dollars for a decade - but no more
Cubans have been joining long queues to hand in their US dollars, before a deadline making them officially worthless in two weeks' time.
Banks and exchange kiosks were jammed as Cubans sought to sell their dollars, which have been legal tender there for more than a decade, for Cuban pesos.
After 8 November, Cubans will have to pay a 10% surcharge to exchange any leftover US currency.
Cuba banned dollars from transactions in response to a tightened US embargo.
President Fidel Castro announced the change of policy on Monday, accusing Washington of "mafia-like" moves limiting cash and people flows to the island.
People would rather keep their money in dollars. They know the Cuban peso is useless when they leave
Journalist Oscar Mario Gonzalez
The change will be felt by everyone on Cuba, where many everyday transactions are carried out in dollars...
(Snip)
http://news.bbc.co.uk/2/hi/americas/3963773.stm
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Kieran
Joined: 28 Jun 2004
Posts: 901
Location: The Waste Land
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| Posted: Sun Oct 31, 2004 9:03 am Post subject: |
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| Do you think this is going to even effect Castro himself? You know it'll just end up hurting the poor people so why do it? |
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Gaffer
Joined: 28 Jun 2004
Posts: 771
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| Posted: Sun Oct 31, 2004 8:57 pm Post subject: |
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Castro will probably take all the USD's for himself, use the USD to flood US markets, maybve make himself even more fabulously wealthy...
Plenty of things he can do. |
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