is a fully functional forum: you can search, register, post new threads etc...
Old accounts are inaccessible: register a new one, or recover it when possible. x

Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$

Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$


Brazil’s currency closed at the weakest level ever against the dollar on Monday as raging economic and political crises increased the odds of the country losing its investment-grade credit rating from yet another ratings company.

Brazil’s economy is forecast to contract this year, and Standard & Poor’s recently cut its rating for the country’s sovereign debt to junk status because of the government’s inability to get its finances under control. Moody’s and Fitch still give Brazil investment-grade ratings, but analysts say it is just a matter of time before either or both of those firms also downgrade Brazil.

The shrinking economy and a giant corruption scandal at state-controlled oil company Petrobras have pushed President Dilma Rousseff’s approval ratings below 10% and prompted calls for her impeachment, while also making it almost impossible for her to get austerity measures passed by an increasingly obstreperous Congress.

“There’s a negative feedback between the economic and the political crises,” said Pedro Paulo Silveira, an economist at the TOV currency brokerage in São Paulo. “We stand a very good chance of losing our investment grade (from Moody’s or Fitch), and the government can’t get anything through Congress.”

The real has been the second-worst performing currency against the dollar over the past 12 months, losing close to 70% of its value, Mr. Silveira said. The real exited active trading at 3.9791 to the dollar on Monday, according to Tullett Prebon via FactSet, after reaching 3.9966 to the dollar earlier in the session.

The real was launched in mid-1994, when it replaced the country’s previous currency as part of a plan to tame rampant inflation. It hit its weakest intraday level ever, of 4.0020 to the dollar, in 2002 on the same day as its previous weakest close.

That last time the real was at its current level was just days after leftist presidential candidate Luiz Inácio Lula da Silva won the first round of the country’s presidential election. Mr. da Silva went on to win in the second round of voting.

The Brazilian central bank has recently stepped up its interventions to prop up the currency. It continues to roll over dollar swap contracts, which give businesses protection against the weakening real. On Monday the bank held two more auctions of dollar repurchase agreements, which help support the Brazilian currency by temporarily injecting more dollars into the local forex market. It was the third time in recent weeks the bank has held such auctions.

If the real continues to weaken, though, the bank might be forced to sell some of its more than $350 billion in reserves, said Sidnei Nehme, director of the NGO brokerage in São Paulo.

“If there’s another rating downgrade, the bank will probably have to sell reserves,” he said. “But that could be bad too, because the moment they mess with the reserves, that sends a sign of fragility and the real could be subject to speculative movements.”

Brazilian Politics are interesting to follow, you have this Marxist called Lula who is a really charismatic psychopath leader, was our last president and made his whole life and career by masterfully crafting and manipulating narrative warfare

When the Berlin Wall came down his buddy Fidel Castro knew he was fucked because there was no other socialist power to support his tyranny, so he decided to reunite with Lula and all the major socialist parties in Latin america and they founded the "Foro of São paulo" with the mission of

"an active compromise with the validity of human rights, of democracy and of popular sovereignty as strategic values, which place the constant challenge of leftist, socialist and progressive forces renewing their thoughts and actions."

This is why Brazil will take many years to turn into a Cuba or Venezuela, we are the goose of golden eggs of the whole continent, we have many socialist dictatorships to sponsor until we become one

After years of refining his speech of totalitarianism to suit the christian and conservative Brazilian public he finally won a presidential election.In 2010 it was remarkable and poetic to have a northeastern humble and poor lathe turner as a president, but really was a lazy syndicalist who even ratted his comrades to the military during the dictatorship,

Then he became one of the most powerful men on the world, had almost 90% popularity since Brazil was living the golden years of china commodities imports in the early 2000's

But in 2005 came the scandal of "Mensalão" .The workers party and Lula had an immense drop of popularity and the public was starting to see the facade so he needed a substitute, since all his immediate buddies were all arrested, he himself almost was condemned too, but he is so much more powerful than the whole Brazilian judicial apparatus, prosecutors, attorneys, the federal police couldn't touch him and the supreme federal court was in his pocket
Then he made the most stupidest decision of his whole life, he resorted to a woman, to use the Chief of Staff of the Presidency as a candidate to the 2010's election

This woman
[Image: Still-2.jpg]

Using the same marketeer of Lula's presidency campaign, another masterful manipulator of narrative and media Called Joao Santana, i got to admit these sociopaths and their followers know how to play these games, 48 laws of power is baby talk to them, they are highly advanced in political warfare and have rigged the whole country with a power grab project that was crafted more than 30 years ago

So by Transforming her image from old hag to ogress
and delivering the same old socialist/populist bullshit and the narrative of Dilma being a brave woman victim of torture during the military govt.
[Image: 147206-004-FBD08BCD.jpg]

Which kinda makes sense since she was a known communist terrorist who robbed banks,kidnapped people and exploded banks, the organization she was part of was responsible for killing a soldier using a car bomb

She managed to win the 2010 and was reelected in 2014
which is not actually hard when you have your own lawyers as chief of the Supreme Electoral Court and it helps that the Brazillian voting machine is a highly vulnerable 20 years old piece of shit
[Image: urna_eletronica_400x400.jpg]

For those who are tech savvy here's a study about the Brazilian voting system vulnerabilities

So after 12 years of one single party remaining unquestioned in power, even with one scandal of staggering corruption in state owned enterprises after the other, after the shameful election where Dilma Roussef lied again and again in the TV debates about how she would run the country , even after that super shitty world cup, the election passed, 2015 came and the the govt finally decided to tell the truth: the economy was utterly ruined

But a woman obviously cant handle the highly complex mechanics of handling a country much less a purposefully broken one, her old fart brain cant manage anymore the intricate web of lies and corruption , just an old socialist hag who only does what shes obliged to, she doesn't rule shit anymore, it's all on the hands of the vice president party(Brazilian Democratic Movement Party)
she just have to appear in media conferences where she gets increasingly crazier and angrier, out of her carefully prepared character and speeches she just rambles nonsense when a reporter ask a question about the bankrupt economy

Her popularity is almost at 5%, as a result Brazil is having an alarming increase of anti leftist sentiment, an impeachment is coming every day closer even with having the workers party dominate every democratic institution and the shelling of the state sponsored media

We are going through the first spontaneous popular anti-state/libertarian movement since the vaccine revolt in 1904, but still this crisis is just the tip of the iceberg, there is much worse to come, not only inflation and criminal taxes but cultural decline is reaching a turning point, leftist hypocrisy,incoherence and general lifestyle damages especially the young's kids who are brainwashed on universities where leftists utterly dominate. I see this shit happening everyday

And to add insult to injury all the of political discussion and "Renascence" is happening exclusively on Facebook almost entirely on memes, we Brazilians don't use forums, Reddit,image boards we don't event use websites or blogs anymore, we consume everything information related on Facebook, Buzz feed, Medium

Most journalistic websites are absolutely pro Govt. sponsored by Petrobras which is the state controlled company that holds the monopoly on petrol and energy , and by the postal service (Correios) also a monopoly controlled by the state, whats the fucking point of having companies that don't have any market competition spend millions of taxpayers dollars on advertising?

Only now there are blogs and communities forming, but they still heavenly depend on Facebook to interact, a major flaw since it induces too much dopa-mine seeking and attention whoring behavior, and even with the huge civil movement that can pull events created on Facebook that puts dozens of millions of people on the streets, most of the men behind this are fat,highly emasculated and weak

That's a start, when millions of people go to protest and denounce the fraudulence of socialists ideas the country can finally start to heal itself after 50 years of Marxist academic and media supremacy
[Image: 993eae2bf28e4af892dd0ca2fd7a7bcb.jpg]

Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$

What constitutional solution would you propose?

Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$


Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$

Yup, dupe.


Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$

I wish we had a sort of Finance/Economics subforum. Loads of well versed guys on here in that field. That could be really useful.

Brazil's political and economic crisis drops currency on historic low, 1USD=4,14R$

My apologies for posting a dupe thread, i limited my search for the keyword "Brazil" and didn't found the one already opened in the travel forum
Quote: (09-24-2015 02:28 AM)Phoenix Wrote:  

What constitutional solution would you propose?

First of all, the president is an unapologetic liar, during her campaign she sold a Brazil that didn't exist and to this day the workers party will not admit their developmental project failed, so they will never act with the seriousness the situations requires, Dilma does not have the politic capital to do the much needed state reforms, nor the will

Only thing the workers party and their followers can do and shift the blame to "neoliberalism" and capitalism, they will never revise our actual state model

The others parties are still the same enemies of the common man , but they are only physiological, they don't share the same socialist ideology, limiting their ambitions only on power and money , no pretensions of hegemonic control in a project colluded with fidel castro and the whole Latin america ( The bolivarian agenda)

I don't have any expectation of the Brazilian state being transforms into anything remotely close to the libertarian prescriptions i wish we had

What i suggest and want is to put some some political conjunctures on the federal government that prevents the economic collapse of my country

The only solution is the impeachment, this is high priority since the ongoing investigation of the latest corruption scandals are all compromised because the rigged supreme federal court has only 2 honest ministers judging the case
Every election in Brazil is a fraud because our voting machines are easily hackable
The most important event of a democracy is the voting of a president , this whole process was done in closed doors, with the minister Dias Toffoli ( The guy who was the workers party lawyer in the mensalao trial) handling the whole thing with no posterior audit, since the machines does not have any info backup

The most urgent thing we Brazilians need do to do is to fight against the senate decision to forbid corporate political donations, something the workers party fought very hard to make happen, they used money donated by companies since their beginning, and now only now after a huge scandal involving the gov and contractors using taxpayers money to fund Lula and Dilma billionaire presidency campaigns , they have the audacity to make a crusade blaming the corporations and evil capitalist as the root for all the corruption in Brazil

They pushed very hard this legislation piece on the senate and it was approved this month, now donations to a party can only be done by individuals and the state, so the workers party turned on the cheatcode for infinite money, this was done the same month the first Brazilian libertarian party was formed, after decades of receiving money from corrupt enterprises they end the game, now the workers party which completely owns the state will remain on power forever, the other parties can go fuck themselves if they want any financing

While the Leftist establishment is completely inert,the country is plunged into the abyss, families are being ruined, dreams destroyed, people losing their jobs, it's just maddening to see such misery in contrast with the cynicism and psychopathy of the elite who runs our government

Forum Jump:

Users browsing this thread: 1 Guest(s)