Brazil To Abandon U.S. Dollar & Create New Currency!

Brazil To Abandon U.S. Dollar & Create New Currency!

May 7, 2022

The Jimmy Dore Show

How a downgraded dollar will hamstring U.S. influence and control.

Former Brazilian President Luiz Inácio Lula da Silva, who's once again in the running for the presidency, says that "God willing" he hopes to see the creation of a Latin American currency capable of overcoming the region's dependence on the dollar.

Lula insists that Brazil ought to reestablish relationships in the region and overseas; "and let's go back to reestablishing our relationship with Latin America and God willing, to create a new currency in Latin America, so that we don't have to deal with being dependent on the dollar. We're going to try to recuperate the BRICS."

The PT candidate made the statements at an event held on Saturday by the PSOL, in which the party formally announced its support for the front runner.

Lula also expressed his intention to strengthen ties with Africa; "we're going to prioritize our relationship with the African continent, because Brazil has a debt to pay to Africa, this Brazilian debt is not measured in money, it is measured in solidarity, in the transfer of technology. Brazil has an obligation at the end of day, it's been 350 years of exploitation of African people. We are who we are because we are African blood."

An American CBDC could have lasting geopolitical impact and curb a longstanding international effort to reduce reliance on the mighty U.S. dollar.

"Why we should care about this is that the U.S. financial system is not intrinsically dominant," says, Yaya Fanusie, an Adjunct Senior Fellow at the Center for a New American Security, and a former CIA analyst. "Other countries, both allies and adversaries, are sincerely interested in finding ways to decrease their dependence on the dollar."

Commercial banks dominate the U.S. financial system to such a degree that unraveling them would be ostensibly impossible, experts say, they also would be a powerful adversary. Former Goldman Sachs managing director Nomi Prins notes banks have clearly seen the writing on the wall.

"Banks are centralized middlemen with respect to financial transactions," Prins, author of Collusion: How Central Bankers Rigged The World, tells TIME .com. "The more popular cryptocurrency or digital currency becomes, the fewer profits the banking system can reap from traditional services and verification methods that allow them to hold, take or use their customers' money, and the more financial power they stand to lose as a result."

Original: https://youtu.be/Q9OArRUPlZM

https://kawsachunnews.com/lula-wants-a-latin-american-currency

https://time.com/6099105/us-china-digital-currency-central-bank/

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Edited by Michael Wurum

ABOUT THE JIMMY DORE SHOW: The Jimmy Dore Show is a hilarious and irreverent take on news, politics and culture featuring Jimmy Dore, a professional stand up comedian, author and podcaster. With over 5 million downloads on iTunes, the show is also broadcast on KPFK stations throughout the country. It is part of the Young Turks Network-- the largest online news show in the world.