Cuban cash shortage

3,948 Views | 28 Replies | Last: 12 days ago by Urban Ag
techno-ag
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12:36p, 4/27/24
AG
https://abcnews.go.com/International/wireStory/long-lines-form-frustration-grows-cuba-runs-short-109714175

Quote:
Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw some money after wasting the entire morning.
…
Omar Everleny Perez, a Cuban economist and university professor, says the main culprits are the government's growing fiscal deficit, the nonexistence of banknotes with a denomination greater than 1,000 Cuban pesos (about $3 in the parallel market), stubbornly high inflation and the non-return of cash to banks.

"There is money, yes, but not in the banks," said Perez, adding that most of the cash is being held not by salaried workers, but by entrepreneurs and owners of small- and medium-size business who are more likely to collect cash from commercial transactions but are reluctant to return the money to the banks.
So you're telling me, professor, those pesky capitalists are making all the money and hoarding it? They don't trust government banks, eh?

Quote:
Then, in 2023 the government announced several measures aimed at promoting a "cashless society," making the use of credit cards mandatory to pay for some transactions - including purchases of food, fuel and other basic goods - but many businesses simply refuse to accept them.
Good. Hang on, Cuba. Hang on.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
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La Bamba
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4:08p, 4/27/24
AG
It's high time that Cuba tears down the failed Communist experiment that has led to decades of misery and starts over. A beautiful island country with rich soil, 90 miles from the world's economic power, in an increasingly bifurcated world where the U.S. is looking at near shoring industry away from China/communist states. The opportunity is there for Cuba. Will it seize it or will it divulge further down the misery spectrum until it becomes Haiti is for the Cubans to decide. My hope is that its people have had enough.
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one safe place
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6:10p, 4/27/24
He should have ridden his electric tricycle to an ATM for bitcoins.
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techno-ag
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In reply to one safe place • 6:14p, 4/27/24
AG
Yeah the e-bike detail was interesting in a land of vintage 57 Chevy cars.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
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TTUArmy
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6:14p, 4/27/24
Cuba could have a smoking economy.
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Sid Farkas
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6:37p, 4/27/24
AG
and Michael Moore thinks we should look to Cuba for its' social programs.
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CanyonAg77
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In reply to techno-ag • 7:15p, 4/27/24
AG
China makes a lot of e bike motors and batteries, they will trade with China
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Owlagdad
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In reply to CanyonAg77 • 8:33p, 4/27/24
CanyonAg77 said:
China makes a lot of e bike motors and batteries, they will trade with China


But will they work in a 53 Chevrolet Bellaire?
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APHIS AG
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In reply to TTUArmy • 8:42p, 4/27/24
TTUArmy said:
Cuba could have a smoking economy.
This is what decades of complacency brings as the majority of the population have gotten used to "being taken care of".

And this sounds familiar.
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techno-ag
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In reply to APHIS AG • 8:51p, 4/27/24
AG
APHIS AG said:
TTUArmy said:
Cuba could have a smoking economy.
This is what decades of complacency brings as the majority of the population have gotten used to "being taken care of".

And this sounds familiar.
From what I understand the Nicaraguan tobacco farms are as good now as the old Cuban ones once were. And the Cuban farms have suffered decades of neglect.
Buy a man eat fish, he day, teach fish man, to a lifetime.

- Joe Biden

I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.

- Kamala Harris
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MelvinUdall
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In reply to La Bamba • 8:54p, 4/27/24
La Bamba said:
It's high time that Cuba tears down the failed Communist experiment that has led to decades of misery and starts over. A beautiful island country with rich soil, 90 miles from the world's economic power, in an increasingly bifurcated world where the U.S. is looking at near shoring industry away from China/communist states. The opportunity is there for Cuba. Will it seize it or will it divulge further down the misery spectrum until it becomes Haiti is for the Cubans to decide. My hope is that its people have had enough.


But the left used Cuba as a standout country on how they handle health care and in a lot of ways, is better than the US. In the lefts eyes, Cuba is successful country..
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Pooh-ah95_ESL
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7:53a, 4/28/24
AG
Things are very bad in Cuba now. Most basic necessities are being shipped in by family members on the outside. I suspect most Cubans have family in the outside who have left. Many are flowing up through Central America now. The government appears to be essentially collapsing.
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aggie93
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8:25a, 4/28/24
AG
Wasn't really that long ago that Venezuela and Cuba were both thriving economies with a high standard of living. Wonder what happened? Such a mystery.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
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buda91
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9:56a, 4/28/24
AG
"He angrily hopped on his electric tricycle". This made me laugh. So weird. Can't decide if it's weirder that it happened, or that the writer wrote it.
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Muy
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In reply to one safe place • 10:01a, 4/28/24
AG
one safe place said:
He should have ridden his electric tricycle to an ATM for bitcoins.


I'm just happy that he saved the planet by riding his electric bicycle.
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BonfireNerd04
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In reply to techno-ag • 9:53p, 4/28/24
techno-ag said:
APHIS AG said:
TTUArmy said:
Cuba could have a smoking economy.
This is what decades of complacency brings as the majority of the population have gotten used to "being taken care of".

And this sounds familiar.
From what I understand the Nicaraguan tobacco farms are as good now as the old Cuban ones once were. And the Cuban farms have suffered decades of neglect.
You can still buy Cuban cigars in Mexico.
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Jack Squat 83
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10:00p, 4/28/24
AG
They just didn't do Communism the right way like we will. Isn't that right, resident "one party rule" Democrats?
Pretty sure most of you don’t know me.
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Urban Ag
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In reply to TTUArmy • 12:02a, 4/29/24
AG
TTUArmy said:
Cuba could have a smoking economy.
It did before the commies.

It was literally tropical paradise Las Vegas.

Until the commies.

Dear leftists - you literally F everything up you touch you dipsh**s

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Urban Ag
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In reply to buda91 • 12:03a, 4/29/24
AG
buda91 said:
"He angrily hopped on his electric tricycle". This made me laugh. So weird. Can't decide if it's weirder that it happened, or that the writer wrote it.
It makes me think of several leftists that post regularly here lol

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ts5641
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In reply to techno-ag • 8:14a, 4/29/24
Commies will never voluntarily give up power even in the face of colossal failure. This is why it's so important to stop them now in the US before they control everything.
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CanyonAg77
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In reply to Urban Ag • 8:43a, 4/29/24
AG
Urban Ag said:
TTUArmy said:
Cuba could have a smoking economy.
It did before the commies.

It was literally tropical paradise Las Vegas.

Until the commies.

Dear leftists - you literally F everything up you touch you dipsh**s

To be fair, it was less of a paradise for the peasants, and more of one for the ruling elite. That's part of what lead to Castro. The Cuban people thought they were overthrowing a dictator, but, as always with communists, they were just getting a different dictator.
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BQ_90
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In reply to BonfireNerd04 • 11:43a, 4/29/24
AG
BonfireNerd04 said:
techno-ag said:
APHIS AG said:
TTUArmy said:
Cuba could have a smoking economy.
This is what decades of complacency brings as the majority of the population have gotten used to "being taken care of".

And this sounds familiar.
From what I understand the Nicaraguan tobacco farms are as good now as the old Cuban ones once were. And the Cuban farms have suffered decades of neglect.
You can still buy Cuban cigars in Mexico.
most likely made in China
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93MarineHorn
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12:12p, 4/29/24
Quote:

"There is money, yes, but not in the banks," said Perez, adding that most of the cash is being held not by salaried workers, but by entrepreneurs and owners of small- and medium-size business who are more likely to collect cash from commercial transactions but are reluctant to return the money to the banks.
The true believers always blame someone else (kulaks) for communism's failure.
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Slicer97
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In reply to Urban Ag • 12:23p, 4/29/24
AG
Urban Ag said:
TTUArmy said:
Cuba could have a smoking economy.
It did before the commies.

It was literally tropical paradise Las Vegas.

Until the commies.

Dear leftists - you literally F everything up you touch you dipsh**s

This cannot be repeated enough. When it comes to communism/socialism, there is no "right way" to do it.
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BBRex
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In reply to MelvinUdall • 12:33p, 4/29/24
AG
MelvinUdall said:
La Bamba said:
It's high time that Cuba tears down the failed Communist experiment that has led to decades of misery and starts over. A beautiful island country with rich soil, 90 miles from the world's economic power, in an increasingly bifurcated world where the U.S. is looking at near shoring industry away from China/communist states. The opportunity is there for Cuba. Will it seize it or will it divulge further down the misery spectrum until it becomes Haiti is for the Cubans to decide. My hope is that its people have had enough.


But the left used Cuba as a standout country on how they handle health care and in a lot of ways, is better than the US. In the lefts eyes, Cuba is successful country..
Having topnotch health care is essential when your wife or kid work as prostitutes to make real cash then come home with STDs. Prostitution is apparently the only capitalist business that socialism promotes.
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aggiehawg
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In reply to CanyonAg77 • 12:44p, 4/29/24
AG
CanyonAg77 said:
Urban Ag said:
TTUArmy said:
Cuba could have a smoking economy.
It did before the commies.

It was literally tropical paradise Las Vegas.

Until the commies.

Dear leftists - you literally F everything up you touch you dipsh**s

To be fair, it was less of a paradise for the peasants, and more of one for the ruling elite. That's part of what lead to Castro. The Cuban people thought they were overthrowing a dictator, but, as always with communists, they were just getting a different dictator.
Not disagreeing with that view of Batista but the heart of the matter back then was that Batista was more pro-US than the USSR and Khrushchev saw an opening to depose him.
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Bubblez
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In reply to TTUArmy • 12:45p, 4/29/24
TTUArmy said:
Cuba could have a smoking economy.
Better than now? Yes. Smoking? Probably not, unless you consider the economies of all of the Caribbean region to be smoking. Heavily dependent upon tourism with some exports.
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Biz Ag
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In reply to TTUArmy • 12:45p, 4/29/24
AG
TTUArmy said:
Cuba could have a smoking economy.


Bill Clinton to Monica Lewinsky:

"Ever had a Cuban in ya? Would you like some?"
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Urban Ag
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In reply to CanyonAg77 • 12:48p, 4/29/24
AG
CanyonAg77 said:
Urban Ag said:
TTUArmy said:
Cuba could have a smoking economy.
It did before the commies.

It was literally tropical paradise Las Vegas.

Until the commies.

Dear leftists - you literally F everything up you touch you dipsh**s

To be fair, it was less of a paradise for the peasants, and more of one for the ruling elite. That's part of what lead to Castro. The Cuban people thought they were overthrowing a dictator, but, as always with communists, they were just getting a different dictator.
I was strictly speaking to Americans that liked to party/vacation there

Otherwise, it was pretty much what all of Latin America has historically been, as you rightly pointed out

Cuba is the island version of south Florida. It should have become an international vacation mecca but you take latin American dysfunction and throw commies on top of that and here we are.
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