Leftist LatAm bloc to begin using its own currency

Associated Press ^ | Dec.13, 2009 | ANDREA RODRIGUEZ

[Free ThinkerNY]

HAVANA (AP) - Members of a leftist bloc of nine Latin American nations said Saturday they plan to use a new currency dubbed the "sucre" for trade among themselves starting in January.

No sucres will be printed or coined, but the virtual currency will be used to manage debts between governments while reducing reliance on the U.S. dollar and on Washington in general.

Cuba already signed an agreement on Saturday to pay for a shipment of Venezuelan rice in sucres, according to Rogelio Sierra, the island's deputy foreign minister. He declined to say what the shipment was worth.

[Reaganez]

This scheme will last as long as Venezuela is willing to subsidize the other countries with hard currency backed by oil exports.

Its a fancy form of Venezuelian foreign aid.

[ABQHispConservative]

Meaning, all these communist countries are broke.

[denydenydeny]

Mmmmm.....sucre.

In reality the sucre will turn out to be worth exactly the paper it’s printed on.

[grey_whiskers]

What was it called again?

The "sucker" ?

Cheers!

[babygene]

States here should do the same. Backed by gold...

[eldoradude]

"sucres" - pronounced 'suckers'.

What's next? "cocas"?

[trumandogz]

One thing that is odd here is that Ecuador uses the US Dollar as its currency.

[null and void]

Sucre?

Pronounced “sucker”?

[Tainan]

Good point. This could also be considered an attempt to undermine the Ecuadorian monetary system.

[ZOOKER]

Must be time to trade in my Quatloos. What's the exchange rate?

[piasa]

3 cauliflowers per quatloo?

[Tzimisce]

....they call the currency the “sucre”?

I’m not great at Spanish, but doesn’t that sound an awful lot like “sucker”?

[Iron Munro]

They misspelled “SUCKER” as “Sucre.”

[the_daug]

Sucre, the first capital of Bolivia, was founded by the Spanish in the first half of the 16th century.

[rrrod]

Chaves personally owns the so-called presidentes LOL.

[Moonman62]

We tried it with Bretton Woods which didn’t work out.

[Vaduz]

Yokem dollar part two?.

[ZOOKER]

Not cauliflowers, just an obscure star trek reference.

The three "cauliflowers" are beings who capture humans and force them to fight each other, wagering on the outcome in "quatloos".

"Sucres" and "quatloos" both are fiat currency, worthless to anyone else in the universe.