HRF's CBDC Booth at #SXSW, Austin📍 THE PUBLIC REMAINS DANGEROUSLY UNAWARE.

GM Nostr! Here's a deep dive into the absurdity of Cuba's monetary system I did while writing HRF's financialfreedomreport.org In 2021, the Communist Party of Cuba forced thousands of Cubans to convert their savings into "Certificates of Deposit" (CDs). Four years later, they still can't access a cent. Here’s what happened🧵 For decades, Cuba had two currencies: 1. The CUC (Cuban Convertible Peso) – Used for buying essential goods and pegged to the USD. 2. The CUP (Cuban Peso) – What most Cubans were paid in, nearly worthless. The result? Cubans were paid in a currency with no value but forced to use a currency that was pegged to the dollar for basic purchases. This created an economic divide, with wages falling far behind the prices of even basic necessities. The CUC first came to be in 2004 when the Cuban government forbade the use of dollars (previously legal tender), forcing both Cubans and tourists alike to exchange them (and other foreign currencies) for Cuban Convertible Pesos (CUCs). For years, Cubans who had foreign currency—whether through remittances, salaries, or savings—had to convert it into Cuban Convertible Pesos (CUC), which was promised as pegged 1:1 with the US dollar. In 2021, however, Cuba’s government eliminated the CUC under the “Tarea Ordenamiento” reforms in what was dubbed “Day Zero.” The government claimed this would 'unify' the monetary system and simplify the economy. In reality, it was a desperate move to cover up years of mismanagement and foreign currency shortages. In other words, the regime printed way more CUCs than it had dollars to back them up. So, instead of receiving their dollars back, Cubans with CUCs were forced to choose between two options: 1. Convert to Cuban Pesos (CUP) at a 24:1 rate (black market rate was much higher). 2. Lock money in CDs, with the promise of getting USD back later when "liquidity allows." Many Cubans chose CDs, hoping to get their dollars back. But unbeknownst to Cubans, the details made them effectively worthless: ❌ No clear repayment timeline 📉 Near-zero interest (0.15%) 🚫 Non-transferable, except by inheritance Since the monetary union of the CUC and CUP in 2021, the peso (CUP) has gone into freefall: 📉 2021: Gov’t set exchange rate: 24 CUP per USD 📉 2022 Black market rate: 50 CUP per USD 📉 2023: 300 CUP per USD 📉 2024: 400+ CUP per USD Meanwhile, Cubans who chose to lock their savings in CDs still can’t access their increasingly devalued money. Banks refuse requests. The regime ignores complaints. And those who dissent—online or in person—risk government censorship or frozen accounts. Cubans are not happy: "They took our dollars and gave us a piece of paper. In any other country, this would be a crime." “No matter how you look at it, it’s nonsensical. What’s the point of having an account if you can’t touch even a dollar of the money deposited there?" The Cuban regime didn’t just mismanage the economy and currency, it robbed its own people under the guise of policy. By trapping citizens’ hard-earned savings, they made sure ordinary Cubans—not the government—paid the price of regime-induced financial devastation. If you enjoyed these insights, consider subscribing to HRF's Financial Freedom Report for more news and learn how #Bitcoin is helping alleviate the monetary struggles of citizens under authoritarian regimes.👇

The financial freedom #Bitcoin provides is the overarching reason why once a Bitcoiner, you never go back. It's fundamentally impossible to do so after understanding the superior alternative. It would be like trying email and opting to write letters delivered by raven instead.

Many people approach #Bitcoin as an investment, which can lead to a fundamental misunderstanding of its nature. You're not investing in Bitcoin, you’re using a better form of money. -Your money isn’t someone else’s liability.   -Your money has no intermediaries.   -Your money doesn’t require permission to use.   -Your money can’t be censored.   -Your money is fully under your control.   -Your money is always accessible.   -Your money can be sent anywhere, anytime.   -Your money is borderless. -Your money travels with you.   -Your money works for any purchase, big or small.   -Your money can’t be debased.   -Your money appreciates over time.   -Your money is harder to track or surveil.   -Your money can’t be taken from you. Bitcoin isn’t an investment. It’s financial freedom.

With world leaders launching meme coins becoming a trend, here’s what I discovered while researching the Central African Republic’s government-backed meme coin $CAR for HRF’s financialfreedomreport.org🧵 On February 10th, CAR President Faustin-Archange Touadéra announced on X the launch of a government backed meme coin called $CAR claiming it will “unite people” and “support national development.” The reality is actually more simple: meme coins are largely speculative assets, prone to pump-and-dump cycles, and often serving as vehicles for insiders to profit at the expense of those who buy in. CAR’s 1 billion token supply was carved up predictably: 35% to ‘country development,’ 25% to ‘creators & company,’ 20.7% for liquidity, 10% for charity, and just 9.3% for public distribution. In short, insiders controlled the vast majority. Within a day of its launch, $CAR shot to a market cap of $900 million before crashing spectacularly, plunging 97% from its peak and leaving the vast majority of investors holding worthless tokens. If this sounds familiar, it’s because President Toudéra pulled a similar stunt only a couple years earlier. In 2022, they launched Sango Coin, a token that promised citizenship and land to its investors. The reality? Only 7.5% of the supply was sold, and those who did “buy in” did not receive what was promised. The official Sango Coin website is also non functional. They even convinced people to donate their Bitcoin to “back” Sango Coin, then took all the donated funds. Even before Sango, CAR made global headlines by adopting Bitcoin as “legal tender.” Unfortunately this was less about freedom and individual sovereignty and more about optics. In other words, a marketing ploy to propel the Sango Coin scam. Regardless of the intentions, Bitcoin as legal tender didn't last long as CAR bowed to pressure from the regional monetary union, the Economic and Monetary Community of Central Africa, and walked back Bitcoin’s legal tender status and their paper promises. The recurring theme in CAR is that the government continues to pedal schemes they claim will benefit the public, but instead repeatedly benefits regime insiders. This came at the opportunity cost of instead advancing decentralized, open, and censorship-resistant money that can actually benefit such an impoverished population. The $CAR meme coin is just the latest gimmick and reports are already surfacing that regime insiders cashed out $40M. With a second scam in just as many years, this clearly isn’t about financial innovation: it’s about power and profit for the few. The real tragedy? CAR’s people deserve financial freedom. #Bitcoin could provide a way to escape the CFA system that is deeply rooted in monetary colonialism, but instead, the government has chosen speculative tokens that enrich elites at the expense of the public. Until then, its citizens remain trapped in a system where politicians experiment with money, and the people pay the price.

The fact that the entire crypto space has devolved into nothing but repeated meme coin launches is proof that it has absolutely no future. It was always just #Bitcoin.