Cuba’s Banking System Has Collapsed, and ATMs Are Out of Cash

esfera /
esfera /

Multiple reports indicate that Cuba’s banking system has suffered a complete collapse. ATM machines are out of cash and people have no money to buy food or other basics. Many are questioning whether this is a move by the communist government of Cuba and the international banking cartels to implement a central bank digital currency (CBDC) in the island nation, along with a universal basic income.

People started noticing troubles with the banks in Cuba back in April. Workers were suddenly having to wait in line for hours to withdraw cash. Sometimes, they were forced to leave and try another bank. As those problems worsened, cash-only businesses in Cuba started holding onto all their cash, rather than putting it back in the banks. Individual workers started doing the same thing. Why put your money in a bank if you can’t take it out again?

Last week, a full-blown crash appears to have happened. Residents in the capital city of Havana can no longer get cash out of ATMs. When people broke into the banks, they discovered that the vaults were already open—and completely empty.

In 2023, the Cuban government announced that it was moving toward a cashless society and would only allow credit card transactions to pay for certain purchases. That has many people concerned that Cuba will attempt the World Economic Forum’s desired CBDC next.

Cuba’s economy has also not been spared from Joe Biden’s deliberate destruction of economies around the world. For example, a carton of eggs that cost 300 Cuban pesos in 2019 now costs 3,100 pesos.

Americans should pay close attention to the economic meltdown of Cuba in the coming weeks. It will give us a nice preview of what our leaders have in store for us here if Joe Biden should end up in the White House for a second term.