EDITORIAL
NOT A SINGLE BROKEN DOLLAR
by Wilson R. Correa
09.03 2024
The newspaper Valor, in its online edition of Sunday, 09.01.2024, published an excellent article by journalist Maria Fernanda Salinete, who reports that billionaire Bill Ackman, from the Pershing Square management company, criticized the suspension of the X platform by court order of Alexandre de Moraes, the heroic minister of the STF the supreme court of Brasil.
Uninformed and uninterested in Brazilian legislation, the billionaire classifies wrongly the act as illegal, predicts and issues the verdict that Brazil would be on the “fast track to becoming a non-investable market”.
The journalist brings us the words of the billionaire: “The illegal closure of X and the freezing of accounts at Starlink put Brazil on a fast track to becoming an uninvestable market. ... China has committed similar acts, leading to capital flight and collapsing valuations. The same will happen to Brazil unless they quickly back down from these illegal acts.”
The ‘collapse of ratings’ ? Well, lock at that ! The ratings he refers to are carried out by financial market men, by rating agencies such as Standard & Poors, Ficht Ratings and Mood's Investors Services, whose function is to assign performance ratings to private sector securities and public debt securities of countries, as well as to the markets of nations, so that investors can evaluate financial investment opportunities.
This mechanism has a strong power to direct investments and national governments tend to be led to adapt their economies in order to facilitate the internalization of investments, often in a way that is contrary to national development interests and national sovereignty. The attribution of ratings by rating agencies ends up functioning as a blackmail mechanism for governments to take measures favorable to exchange rate liberalism and the seizure of public assets of nations by the financial market. Thus, by nature, these assessments are biased and do not deserve full credit.
Take the case of the Chinese economy, which market fortune tellers have been misjudging for decades and predicting the collapse of the economy and, subsequently, of the Chinese state. On the contrary, China has just completed its project to lift 300 million people out of poverty, adding to the 600 million people who are already part of the middle class, forming a gigantic internal consumer market capable of sustaining the expansionary cycle of the economy.
Yes, China has overcome all limitations and is doing very well, thank you very much, contrary to the predictions of the financial market, whose babalorixás were, in turn, incapable of foreseeing and taking precautions against and overcoming the 2007/2008 crisis, without strong support from the National States, a crisis that devastated the international financial system and ruined European and US economies, led dozens of investors to commit suicide and dozens of other swindling investment directors and managers to prison.
Given the mental incapacity of this type of financial market figure on such a large scale, it is clear that not only the Brazilian elite, but also the world elites, have presented serious problems of cerebral dehydration, thick soup flowing heavily through the arteries, and deficient oxygenation and nutrition of neurons. In short, factors that, combined with a significant dose of personal arrogance, have promoted the great systemic irrationality of our days. Let us see:
> encourage and destroy Ukraine in its proxy war against Russia, seeking to take to its ultimate consequences its miserable project of fragmenting the great country of Empress Catherine I and Peter the Great into about half a dozen small countries rich in minerals, precious metals and rare earths, easily controlled by the great powers;
> they support and finance the massacre of Palestinian citizens by the Israeli state, they plan the use of tactical nuclear bombs on European soil and in the Middle East! ... even though they are aware that the radiation released by the explosion of the Ukrainian nuclear power plant in Chernobyl, which occurred in 1986, 38 years ago, is still being felt in Europe to this day;
> stupidly trusting in impunity, they took possession of around US$300 billion in assets from Russia's international reserves in European and American banks; and also from Venezuela, in around US$7 billion, deposited in the Bank of England; measures that triggered a strong movement of agglutination of dozens of countries around the BRICS for the constitution of new systems of international payments, capital movement and international value clearing, in addition to a new international currency to replace the deservedly discredited American dollar.
Uninformed people could attribute so much stupidity to the predominance of Neanderthal genes; but no; genes from those hominids are not responsible for such grandiloquent stupidity. This is a historical and macabre cultural problem in Europe; and also in USA, the empire of endless wars: they miss the devastation caused in the two Great World Wars, as well as countless other european devastating wars that have occurred since the end of the Middle Ages; and, mainly, the defensive movement of north american and british imperialism against the rise of the gigantic emerging economic force in the Far East, which weakens Atlanticist hegemony.
The results, today? Europe in free fall; NATO's submersion in failure against Russia, whose economy grew 3.6% in 2023, despite fruitless European and US sanctions; the white primacist far-right gaining more and more ground in the US and European countries, bringing about the revival of fascist, racist, colonialist and anti-immigration ideology... in addition to the flat-earth nonsense... let us not forget the level to which such stupidity has reached.
Bill Ackman is part of this senile, moribund, decadent empire, which morally will not be able to survive, but, in economic terms, will only be able to have some breathing room through investments in countries like Brazil, which is already taking off, as well as India, Indonesia and a few others.
Pretentious, mediocre blackmailer, his assessments of Brazilian legislation and his investment advice are worthless and should be disregarded by citizens of good will.
> Check out the valuable article by journalist Maria Fernanda Salinet.
> Also CHECK out the valuable article by INFOMONEY.
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