Cuba - New Money System

Economists like to use the "Desert Island Model" to explain economics theory of money.

China has some program to develop and apply new money theories in selected cities.

It seems to me that the most obvious "Desert Island" in the world and the one needing a money system to lift it out of its current economic condition is Cuba.  Now wouldn't that be ironic.  A communist country establishing a debt free money system based on a Platinum Coin that would be a model for the rest of the world.

Cuba is isolated, politically, geographically.  the perfect "Desert Island".

What is the monetary system of Cuba?  Nobody cares so I would not expect to find much on it.  Maybe that is what makes Cuba the ideal place to adopt a new money model???

Travel to Cuba!

Banking in Cuba

The Central Bank:  Wow! It is hard to travel to Cuba but easy to go there on the internet!

As the governing authority of the Cuban banking system, BCC has the mission:

• To issue the national currency and seek for its stability.
• To contribute to the macroeconomic balance and orderly development of the economy.
• To keep custody of the country’s international reserves.
• To propose and implement a monetary policy which allows to attain the economic goals established by the country.
• To ensure normal internal and external payment operations.
• To dictate mandatory regulations.
• To exercise the functions related to the discipline and supervision of the financial institutions and representative offices authorised to establish themselves in the country and of any other entrusted to it by the laws.

Besides the aforementioned classical functions, Banco Central de Cuba must undertake other challenges: to improve the monetary system, in such way, that it can make feasible execution of the economic activity, enable its accurate measure, contribute to making efficiency analysis on real basis and encourage the efficacy of the economy in general and, particularly, work productivity; normalise the external financial relations of the country –including the foreign debt issue- and support credit management of banks integrating the national system and of Cuban enterprises by means of bilateral contacts with other central banks, export credit insurance companies and other official and private financial institutions. 

Russia Eyes Cuba's $25 Billion Debt

Maybe a platinum coin would work for Cuba?

Maybe China could buy the debt cheap from Russia and use Cuba as a "Desert Island" site for monetary reform to a debt free money system as a place to launch an assault on the debt money system of Cuba's nearest neighbor???

The Russians tried that idea once but they are so crude they used missiles instead of money!

Chinese are clever people.

China relations with Cuba here