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(CBS News)   Cuba announces plans to unify their two currency system. Apparently a pig will now have exactly the same purchasing power as a chicken   (cbsnews.com) divider line 17
    More: Interesting, Raul Castro, currency, US dollar, purchasing power  
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1057 clicks; posted to Business » on 24 Oct 2013 at 7:18 AM (24 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



17 Comments   (+0 »)
   
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2013-10-24 07:02:23 AM
Just die already Castro so we can get cigars and rum.
 
2013-10-24 08:24:53 AM
No way, a pig has got to be worth like, 10-30 chickens depending on the sizes.
 
2013-10-24 08:32:11 AM
Cuba is opening up in the next 4 years.  I've been watching this for a while.   They did an announcement of Raul Retiring (from death or voluntarily) 5 years from the point of announcement (1 year ago).   Plans for national reforendums on a new constitution and they look like they are going for a hybrid form like Vietnam.   I live in South Florida and I am not a Cuban.  I look at the issue objectively due to my maternal family being from another caribbean island who's tourist industry will suffer and die from Cuba's return to the US market and easier passage to it.    It will be quite interesting to say the least.   If you are interested in Cuba's potential, you should contact me.
 
2013-10-24 08:35:58 AM
"the dual currency has for years hovered over the reform process -- a symbol of inequality and an obstacle to an efficient, productive economy. "

Yes, that's the obstacle.
 
2013-10-24 08:49:14 AM
All animals are equal. Some are more equal than others.
 
2013-10-24 08:57:39 AM
They still use Rubles and Zloaties in Cuba!
Who knew?
 
2013-10-24 09:19:31 AM

Bareefer Obonghit: "the dual currency has for years hovered over the reform process -- a symbol of inequality and an obstacle to an efficient, productive economy. "

Yes, that's the obstacle.


Hmm.
 
2013-10-24 10:11:04 AM
When I was there in 1991 there were 3 currencies:
 - Cuban pesos
 - American dollars
 - 'Exchange certificates' which you got as change for your USD

The pesos were for the locals and would not be accepted at any of the tourist resorts. The exchange certificates were worthless outside of those resorts, and only existed to maximize the number of American dollars flowing into the country (which they needed for international trade).

Also, there is a 3-peso Cuban note and it has Che Guevara on it.
cdn0.wn.com
 
2013-10-24 11:30:27 AM

bromah: Cuba is opening up in the next 4 years.  I've been watching this for a while.   They did an announcement of Raul Retiring (from death or voluntarily) 5 years from the point of announcement (1 year ago).   Plans for national reforendums on a new constitution and they look like they are going for a hybrid form like Vietnam.   I live in South Florida and I am not a Cuban.  I look at the issue objectively due to my maternal family being from another caribbean island who's tourist industry will suffer and die from Cuba's return to the US market and easier passage to it.    It will be quite interesting to say the least.   If you are interested in Cuba's potential, you should contact me.


They still have to pay off Bacardi before anything happens on the US side
http://en.wikipedia.org/wiki/Bacardi#Cuban_Revolution
 
2013-10-24 12:36:14 PM
Ivo Shandor: When I was there in 1991 there were 3 currencies:
 - Cuban pesos
 - American dollars
 - 'Exchange certificates' which you got as change for your USD

The pesos were for the locals and would not be accepted at any of the tourist resorts. The exchange certificates were worthless outside of those resorts, and only existed to maximize the number of American dollars flowing into the country (which they needed for international trade).

Also, there is a 3-peso Cuban note and it has Che Guevara on it.
[cdn0.wn.com image 393x374]

I have no idea what a Cuban 3 dollar peso bill is worth (probably less than the paper its printed on) but you could probably sell it to some college kid with a Che T shirt for like $5
 
2013-10-24 04:05:47 PM

ShadowKamui: bromah: Cuba is opening up in the next 4 years.  I've been watching this for a while.   They did an announcement of Raul Retiring (from death or voluntarily) 5 years from the point of announcement (1 year ago).   Plans for national reforendums on a new constitution and they look like they are going for a hybrid form like Vietnam.   I live in South Florida and I am not a Cuban.  I look at the issue objectively due to my maternal family being from another caribbean island who's tourist industry will suffer and die from Cuba's return to the US market and easier passage to it.    It will be quite interesting to say the least.   If you are interested in Cuba's potential, you should contact me.

They still have to pay off Bacardi before anything happens on the US side
http://en.wikipedia.org/wiki/Bacardi#Cuban_Revolution


And the guy that blew up their airliner dies. I'm sure if the US and Cuba normalize relations they'd want him back.
 
2013-10-24 04:06:01 PM
4 rats gets you chicken or 100 cockroaches for a half dozen eggs
 
2013-10-24 07:51:39 PM
pixel.nymag.com

/obscure?
 
2013-10-24 09:14:51 PM

Sock Ruh Tease: [pixel.nymag.com image 440x340]

/obscure?


Is today Opposite Day?
 
2013-10-24 11:31:59 PM

Sock Ruh Tease: /obscure?


Really?
 
2013-10-25 12:15:53 AM

Sock Ruh Tease: /obscure?


Not even a little bit.
 
2013-10-25 06:10:26 AM

WTF Indeed: Just die already Castro so we can get cigars and rum.


Don't forget cheap healthcare.
 
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