The Banking system of Cuba has reportedly collapsed.
Cubans are reporting via Social Media all their money is gone from their accounts, and all Automated Teller Machines (ATM’s) have been emptied.
This news is being heavily suppressed but it is getting out slowly.
At banks all over the country, angry mobs descended upon banks where Police tried to turn them away. Instead, the mobs overturned Police Cars and sent the cops running.
It was all for naught. Not only were the banks closed, they were empty too. People who got in found open vaults – they weren’t even broken into — and no cash in them at all.
The Cuban people have been left with no financial resources, they have no means of buying food …they are desperate and they are afraid.
Many people are saying “This is the final destination, this is where globalism wants to lead you to the apocalypse.”
Cubans were forced to adopt the digital banking system & now they are financially ruined, they have no recourse.
THE GOVERNMENT WILL NEXT OFFER THE CUBAN CITIZENS UNIVERSAL BASIC INCOME . . . .
Long lines form and frustration grows as Cuba runs short of cash
HAVANA (AP) — 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.
“It shouldn’t be so difficult to get the money you earn by working,” the 23-year-old Fonseca told The Associated Press in a recent interview.
Fonseca is one of an increasing number of frustrated Cubans who have to grapple with yet another hurdle while navigating the island’s already complicated monetary system — a shortage of cash.
Long lines outside banks and ATMs in the capital, Havana, and beyond start forming early in the day as people seek cash for routine transactions like buying food and other essentials.
Experts say there are several reasons behind the shortage, all somehow related to Cuba’s deep economic crisis, one of the worst in decades.
Omar Everleny Pérez, 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 nonreturn of cash to banks.
“There is money, yes, but not in the banks,” said Pérez, 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.. Read more here…
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