Thread by @hem_day

🇧🇷⚡️Lula da Silva proposes a common currency, both for Latin America and the BRICS.

Its currency would either be inspired by the Euro, therefore integrated into the US-controlled SWIFT system, or a digital currency.
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#lula #luladasilva #brics #dollar #swift #ukrainewar

https://twitter.com/RealPepeEscobar/status/1617929908021530624

However, for this digital currency to be independent of the USA, it is necessary to create its entire infrastructure. This is not the case. Brazil relies more and more on the USDT, linked to the dollar.
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China, Russia and Iran plan to develop a common currency strictly independent of the dollar and the USA. Lula's project is seen as an attempt to prevent this independence.
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US actions to maintain control over the global financial system can be roughly divided into two areas:
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Control of the territory of the "golden billion" (the rich countries) by the forced use of the dollar to pay for the resources that the United States provides as a monopoly to Europe and the developed countries.
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The purchase of these resources and the “modernization” of the energy infrastructures will naturally be done in dollars (total dependence of the rich countries on the USA, through energy and monetary tools).
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At the same time, establishment of control over Third World countries through the destruction of local financial systems and the transfer of payments to “substitute” systems such as USDT, for lack of alternatives.
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In the case of the “golden billion,” the backing of the $ is US military power & technology.

In the case of 3rd World countries, the collateral for USDT & other digital dollar proxies are toxic assets sadly waiting to be traded on the balance sheets of the largest US banks.
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So: whose interests is Lula defending?
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