dagblog - Comments for "Cuba to Allow Buying and Selling of Property, With Few Restrictions"

I think I shortchanged the

EmmaZahn — Sat, 05 Nov 2011 23:59:09 +0000

In reply to Cuba to Allow Buying and Selling of Property, With Few Restrictions

I think I shortchanged the boys. Looks like they have some experience in playing the money games..

Cuban convertible peso - Wikipedia, the free encyclopedia:

Between April 2005 and March 2011, the convertible peso was worth 1.08 USD. The CUC is currently pegged to the U.S. dollar at 1:1, as it was between 1994 and 2005.

When exchanging U.S. dollar banknotes a 10% tax is applied plus an exchange commission. The 10% tax is not applied to other currencies, bank transfers, or credit card payments.

For transactions using credit cards, the cards are charged in U.S. dollars plus an extra 3% service charge. (Credit cards issued by U.S. banks cannot be used in Cuba.

I had the same thoughts;

artappraiser — Sat, 05 Nov 2011 23:38:49 +0000

In reply to So the Castro boys decided to

I had the same thoughts; awful late to a major capitalism party thrown for petit bourgeois.

On the other hand, if they really open up things for individuals to sell all kinds of stuff outside the country, I could see a few bubbles caused, like in the car market. If foreigners were allowed to buy some of those cars, it might be like winning the lotto for a few Cubans.

So the Castro boys decided to

EmmaZahn — Sat, 05 Nov 2011 20:43:46 +0000

In reply to Cuba to Allow Buying and Selling of Property, With Few Restrictions

So the Castro boys decided to get in on the financial bubble machine works. Their timing sucks as bad as mine.