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Thursday, March 28, 2024

Pass the Cigars: US Lifts Some Restrictions on Cuba; Why Now?

Courtesy of Mish.

Sanctions and embargoes don't work. And in the case of Cuba, it took the US 52 years to partially realize that.

In 1962, President John F. Kennedy singed into law a Cuban trade embargo. I have long known how foolish Kennedy's decision was (and the decision of every president since).  But I did not know until today how blatantly hypocritical Kennedy's action was.

A clip from Cigars All Around in the Financial Times explains: 

The day before Kennedy signed the law, "Kennedy ordered an aide to buy him 1,000 Petit Upmanns cigars. It was only after Kennedy got word that his request had been carried out that he authorised the new regulations that banned Cuban imports and would have made the purchase illegal."

Wow.

For 52 years, the US embargo poisoned he Cuba-US relationship. What good did it do? Did it drive Casto out of power? Or did it help keep Castro in power?

I suggest the latter.

Free trade is always beneficial and always better that war or cold war. US goods flowing into Cuba and tourists with money would have done more for a regime change than pressure.

Hopefully it won't take 52 years for the US to realize the stupidity of sanctions on Russia. Don't hold your breath.

Cuba's Support of Terrorism

The Financial Times notes "Obama ordered a six month review of Cuba’s designation as a 'state sponsor of terrorism'. Even the State Department no longer attempts to justify this label, which devalues Washington’s word on international terrorism issues and triggers international financial sanctions against Cuba."

Continue here > 

[Picture via Pixabay]

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