Castro Kingdom seeks to extract even more profit from the suffering of the Cuban people
They are masters of the shell game, kings of flim-flam and monetary prestidigitation. Every sidewalk card-trick con artist can learn new tricks from them, new ways of making stooges think that they actually stand a chance of winning. Ponzi schemes seem like child's play to them. They make David Blaine , Houdini, Mandrake, and Bernie Madoff look like rank amateurs or village idiots.
The master manipulators of the economy in the Castro Kingdom seem to have found new ways to exploit their slaves and, at the same time, to convince the world that they are great humanitarian reformers.
Cuba Faces Challenges in Push to End Dual Currency
Cuba is the only country in the world that mints two national currencies, a bizarre system that even President Raul Castro acknowledges is hamstringing the island's socialist economy and must be scrapped.
Exactly how to do that is the problem.
Months after Castro made currency unification a centerpiece of a forceful address to parliament, no details have been made public. But a pilot program operating under the radar might hold clues to a way out.
Since the system was created in 1994, most islanders have been paid in national pesos worth 24 to the dollar in exchange houses, while tourists and the Cubans who attend to them receive a much more valuable peso pegged at 1-to-1 with the U.S. greenback.
The imbalance means doctors and physicists can make more money driving taxis or renting rooms than they can working in the professions for which they spent years preparing. In his July speech, Castro denounced the setup as having a warping effect on the economy and society in general.
Shaking up the dual currency system risks spiking inflation and creating new winners and losers, always dangerous on an island that embraces the goal of egalitarianism. It would also force a change in accounting rules that would eliminate a huge subsidy to state-run enterprises at a time when cash is so short.
But there are signs that change is coming, and hints at how the value of the currencies might meet in the middle.
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