Blog Today Live Forecast Conversion Exchange Rate 2020 2021

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RUSSIA - CUBA DEVALUES PESO by 500% & Needs a BAILOUT. RUSSIA or CHINA are its Best / Only options.

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CUBA has announced a 500% DEVALUATION of the Peso and has ABANDONED its fixed exchange rate of 24 Peso to 1 Dollar. This action will not solve the problems that Cuba is facing. The Country is a NET IMPORTER and the largest categories of goods that it imports are OIL, WHEAT, CORN, RICE and POULTRY. The WAR in Ukraine has caused the Global Price of all of these goods to RISE dramatically. Cuba has a NEGATIVE BALANCE OF TRADE and does not have the Currency to continue with these purchases. Cuba is NOT A MEMBER OF IMF or WORLD BANK and therefore does not have any option for a BAILOUT. There are now SHORTAGES of FOOD, OIL & BLACKOUTS. The situation is now EXTREMELY SERIOUS for CUBA. Cuba desperately needs a friendly nation to bail it out and the only serious options are RUSSIA & CHINA however neither of these options will be attractive for the USA.

For specific details please check out the CHAPTER list below.

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Chapters:
0:00 Intro
2:01 CUBA UPDATE
4:09 EXCHANGE RATES
5:24 INFLATION
8:36 CURRENCY
11:36 BRAIN DRAIN
13:46 SUMMARY & CONCLUSION

#cuba
#ukraine
#russia
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

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Source: www.usda.gov

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