Cuba Bans The US Dollar On The Island

[JohnnyO]

Though I would add a note to their diabolical plan. Those MLC cards, one of the ideas was that you could deposit money into that account from anywhere in the world and with most currencies. Thus bypassing Western Union and the like and keeping any commissions. I'm sure that's one of the activities that the US will try to stop. In Miami there is a local company (CubaMax) that handles these transfers. It has been speculated for years that it is run by former Cuban government officials. If your family member deposits $100 you get $85 in Cuba. All the money stays in the US, you just get a credit on your MLC card. Cuba gets you on the commission and on the overpriced goodies. John

[Fuzz]

I recently heard that Cuba has been using USD to purchase stock of their new currency that they will be rolling out in the coming months. Banks will soon be receiving the new stock to hand out to customers in exchange for USD.

 

 

I have also heard that they are going to be using a new stimulus package. Travel around Havana, and every time you pass the Nacional, you get $200 of the new notes.