MercoPress. South Atlantic News Agency
Hard times ahead for Lula and Brazilian Real, the most devalued currency in 2024
US dollar expectations in the Brazilian market are beating forecasts having reached R$ 6.30 in December, (from 4.85 in January 2024) making the Brazilian Real one of the largest currencies of emerging countries, as the most devalued during 2024, despite the Central Bank pumping some US$ 17 billion to the market hoping to contain the slide. Read full article
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Disclaimer & comment rulesThe government, now in control of the Central Bank, has begun selling dollars on the market. It has already sold 30 billion dollars on the spot market. The dollars sold came from our foreign exchange reserves account held with the US Treasury.
Dec 30th, 2024 - 10:01 am - Link - Report abuse 0There are still another $350 billion to be sold before we can practically pay off our domestic debt.
Just to clarify that our trade with China and Russia is done in local currency. This means that future contributions to foreign exchange reserves will be made in yuan.
https://www.cnnbrasil.com.br/economia/macroeconomia/brasil-ja-possui-124-bilhoes-de-iuans-em-reservas-internacionais/#:~:text=O%20Brasil%20encerrou%20o%20ano,do%20Banco%20Central%20(BC).
Enjoy the Yuan... ;)
Dec 31st, 2024 - 03:40 am - Link - Report abuse 0Brasshole,
Jan 02nd, 2025 - 09:02 pm - Link - Report abuse 0Are you nuts ? The government does NOT control the Central Bank - the bank maintains its independence ( necessary in order to control the value of the currency without political interference).
We all know that nine-fingers would love to control it, so much so that when he appointed Galípolo to succeed Roberto Campos Neto as the president of the CB as of January 1st, he had hopes that he would be able to manipulate him.....but, as luck would have it, Galipolo, since becoming a member of the Board of Directors of the CB, has shown that he is a serious financial operator, and has voted in exactly the same way as Roberto Campos Neto at the COPOM meetings (convened once a month to decide the SELIC rate).
Galipolo is not a fool, nor is he prepared to ruin his reputation just to please nine-fingers who, like you, is an ignoramus when it comes down to economics and market forces..
And, just fyi, the reserves of roughly USD 350 billion, are assets (held by CB - not by the US treasury), to act as a kind of insurance, or guarantee, that the country can face its international obligations, and against external shocks such as currency crises and/ or interruptions of the influx of foreign currency.
Also, the reserves are not used, or at least, should not be used, to pay off domesctic debt.
And our trade with China and Russia is still a good way away from being conducted in local currency..
Brasshole, have you no financial education whatsoever ? in one post you have managed to tell 3 lies, or to show how ignorant you are....a typical lefty.
@ Jack, the guy lives in an alternate reality, some crazy nonsensical posts, but good for a laugh, 2025 and still he does not learn. hope he gets better soon,
Jan 02nd, 2025 - 10:05 pm - Link - Report abuse -1“in one post you have managed to tell 3 lies”
Jan 02nd, 2025 - 11:03 pm - Link - Report abuse -3Says you who lies about everything you post.
JB “Your insistence that I'm a fascist”
Brazil's corruption scandals reach Lula da Silva: ...
12 Jack Bauer; “..'Military dictatorship', ..history is showing,.. that it was good for Brazil
50 Jack Bauer; “Military taking over again, ….. they did it to prevent Brazil from being handed over to the communists. ... the Military , I hope, would be there again to save Brazil”
Terence Hill,
Jan 03rd, 2025 - 05:46 pm - Link - Report abuse -1Tell me, Mr. Know It All, what LIES have I told, in the above post and /or in previous ones ?
Are you going to tell me that our CB is not independent ?
Or that Galípolo has not voted in the same way that Roberto Campos Neto has ?
Or that our CB does not control Brazil's foreign reserves ?
Or that the amount of trade between Brazil and China that is conducted in currencies other
than the USD is still insignificant ?
C'mon, or are you going to prove, yet once again, that you and Brasshole are birds of a feather ? (no offence to birds, implied).
Mind you, please be objective, that is, do NOT confuse “opinions” with lies.....We all know that you have a strong tendency to believe that your opinions are the Gospel truth and that every 'n any other opinion that disagrees with yours, in your rather limited brain, is automatically a lie ?...or can't you tell the difference ?
As for your above post, what I said in the past are opinions which I have the right to express, and cannot be classified as lies, even by an ignoramus like you.
But, since you allegedly know all about Brazil (note, I said 'allegedly') what do you think of the latest economic indices, such as inflation, the prime interest rate, the foreign debt, the accumulated internal Federal debt, the debt/GDP ratio, the fiscal target, or the bill we need to pay every year as interest on the Federal debt, due to this leftist government's overspending, corruption, incompetence and inefficiency ?
Answer the questions objectively, don't embarass yourself...again.
what LIES have I told, in the above post and /or in previous ones ?”
Jan 03rd, 2025 - 06:58 pm - Link - Report abuse -3JB “Your insistence that I'm a fascist”
Brazil's corruption scandals reach Lula da Silva: ...
12 Jack Bauer; “..'Military dictatorship', ..history is showing,.. that it was good for Brazil
50 Jack Bauer; “Military taking over again, ….. they did it to prevent Brazil from being handed over to the communists. ... the Military , I hope, would be there again to save Brazil
http ://en.mercopress.com/2015/01/26/brazil-supportive-of-mercosur-as-long-as-it-does-not-turn-into-a-burden/comments#comment378210
Brazil remembers the 50th anniversary of the coupe…
15 Jack Bauer; “..Am pretty sure that military are accompanying all this … I hope they DO take over...”
JB “The military option was better than the communist”
http ://en.mercopress.com/2017/05/25/brazilian-ex-presidents-discussing-the-outcome-of-the-political-situation/comments#comment467324
“The US can point to nothing even remotely threatening done by the Brazilian Communist Party”
http://www-personal.umich.edu/~lormand/poli/soa/brazil.htm
“The idea that toilet paper cannot be flushed down toilets, is true in only 'parts”
Is absolutely false as besides myself, four other sites have confirmed. While as usual you cannot produce any support for your claim, which therefore confirms your assertion is untrue.
http ://en.mercopress.com/2017/07/20/ex-brazilian-president-assets- and-bank-accounts-frozen/comments#comment471252
Terence Hill
Jan 05th, 2025 - 07:09 pm - Link - Report abuse -1Glad to see you honour your reputation, of a weak minded, supercilious, opinionated lefty, who thinks he's always right (like all commies)......but who is unable to answer even the simplest of direct questions.... if you replied honestly, it would prove what a lying twerp you are.
The questions were rhetorical, as it was obvious you would not reply.
What makes me laugh though, is the fact that you carry on with the “idea that toilet paper cannot be flushed down toilets........”
Obviously, your toilet and bog roll experience in Brazil - i.e., IF you ever lived here - and your reliance on some obscure sites to confirm your point of view, is really no problem of mine....but I can tell you that in my humle abode, I can flush it all away without the need for plastic bins to throw the soiled bumf....
Why don't you accept the fact that our realities were quite different, instead of resorting to calling anyone whose opinions differ from your's, a liar ?
When will you accept the fact that opinions can differ, based on one's experience, which does not mean they are lies....what can't your wee brain understand ??
“What makes me laugh though, is the fact that you carry on with the “idea that toilet paper cannot be flushed down toilets.......”
Jan 05th, 2025 - 08:07 pm - Link - Report abuse -3They can't, so here you are revealed as liar again, and thus anything you claim can sumarily be dismissed.
“In common with most Latin American countries, the sewage system in Brazil can't cope with paper being flushed, so use the bin provided.”
http: //www.wheredoiputthepaper.com.
“Where Do I Put my Toilet Paper? ..a trash bin. And, yes, that's where you put the paper after you used it.”
http://thebrazilbusiness.com/article/going-to-the-toilet-in-brazil
“Living in Brazil: Electric showers, toilet litter and other oddities ..that nasty plastic basket with everyone´s used toilet paper in it. I hate being gross in my blog, but its a gross thing, believe me. For some unexplained reason, Brazilian piping and sewage is not compatible with toilet paper so people never flush the toilet paper down their toilets. Instead, they provide little baskets, sometimes with lids and sometimes without, beside the toilet for the toilet paper. If you refuse to use them, as I did at first, you end up blocking their entire piping system.”
https ://brazilphenomenon.wordpress.com/2013/04/19/living-in-brazil-electric-showers-toilet-litter-and-other-oddities/
So thanks for giving me the opportunity to provide conclusive evidence of your unmitigated lying.
You readily supply much of the same content as o saco de merda
Terence Hill
Jan 06th, 2025 - 08:05 pm - Link - Report abuse -1You take the word of a blogger as the only truth, despite many people's experiences to the contrary.....why is he not mistaken, or a liar ?? Because YOU agree with him.
The only thing you have revealed here is that you are an untravelled, ignorant person, who has to rely on 3rd party opinions to get your information...many times incorrect....sad.
It is pretty obvious that you must enjoy the public toilet stench of stale urine and soiled bumf in your toilet in the cellar.
I suppose that if I tell you I use (and have used ) natural gas (for over 30 years) to heat the water in my shower (and kitchen), you'll call me a liar...LOL
“You take the word of a blogger as the only truth”
Jan 06th, 2025 - 08:27 pm - Link - Report abuse 0Rather than yours, thats for sure, at least I can provide support for what I claim, you can't
I have prduced three witnesses plus the lates URL.
Your lie v my proof @.
https://duckduckgo.com/?q=Toilet+in+Brazil&ia=web
JB “The only reason for receptacles - in 'public' bathrooms - is to throw the bulkier paper hand-towels … If he thinks he's proved I'm a liar - about anything - let him TRY to prove it.”
Game, set, and match.
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