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> This will get our banks banned from the international banking system, isolating our country. The ecomomic [sic] damage this will cause simply cannot be calcul

by ronsor 1y ago

> This will get our banks banned from the international banking system, isolating our country. The ecomomic [sic] damage this will cause simply cannot be calculated. Is this going to be like the Russian sanctions?

matheusmoreira 1y ago
I'm not sure... I don't think they will be that strong but still pretty bad. The sanctioned judge has been essentially permabanned from the US financial system. Everything that touches US dollars is now banned from transacting with him. He cannot even have a brazilian bank account since they absolutely do business with US institutions. This news is essentially them saying "Magnitsky is invalid here, you cannot refuse service to the judge unless we say so". It looks like they're going to force the issue. This will immediately expose Brazil to secondary sanctions. All banks that comply with the supreme court will be sanctioned and cut off from US institutions. Every single brazilian will be affected. This will no doubt cause foreign investment to flee the country as Brazil becomes high risk. It will also probably significantly reduce or destroy our USD reserves, indirectly devaluing our already devalued currency.
- motorest 1y ago
  > The sanctioned judge has been essentially permabanned from the US financial system. You're referring to the fact that the Trump administration is engaged in persecuting individual judges ruling on a coup attempt, hoping to intimidate them into submission to deliver the ruling they demand. And you glance over this as a "permaban".
  - matheusmoreira 1y ago
    You cannot convince me a thousand unarmed civilians attempted a military coup. Protesters from the current ruling party have done far worse things than those people did. They've set those same buildings on fire and nobody ever jailed them for 18 years over it. That protest was directly caused by the supreme court's profoundly destabilizing actions prior to the 2022 election. In 2019 they gave themselves powers to investigate, prosecute, judge and punish wildcard crimes against themselves encompassing the whole brazilian territory. Then they started engaging in unconstitutional political censorship targeting Bolsonaro and his supporters. I was there, I saw them do it. Any claims to the contrary are gaslighting.
    - motorest 1y ago
      > You cannot convince me a thousand unarmed civilians attempted a military coup. I don't care about at what level of delusion you're operating. https://en.wikipedia.org/wiki/2022_Brazilian_coup_plot https://en.wikipedia.org/wiki/2022_Brazilian_coup_plot

by ronsor 1y ago

matheusmoreira 1y ago

I'm not sure... I don't think they will be that strong but still pretty bad. The sanctioned judge has been essentially permabanned from the US financial system. Everything that touches US dollars is now banned from transacting with him. He cannot even have a brazilian bank account since they absolutely do business with US institutions. This news is essentially them saying "Magnitsky is invalid here, you cannot refuse service to the judge unless we say so". It looks like they're going to force the issue. This will immediately expose Brazil to secondary sanctions. All banks that comply with the supreme court will be sanctioned and cut off from US institutions. Every single brazilian will be affected. This will no doubt cause foreign investment to flee the country as Brazil becomes high risk. It will also probably significantly reduce or destroy our USD reserves, indirectly devaluing our already devalued currency.

motorest 1y ago
> The sanctioned judge has been essentially permabanned from the US financial system. You're referring to the fact that the Trump administration is engaged in persecuting individual judges ruling on a coup attempt, hoping to intimidate them into submission to deliver the ruling they demand. And you glance over this as a "permaban".
- matheusmoreira 1y ago
  You cannot convince me a thousand unarmed civilians attempted a military coup. Protesters from the current ruling party have done far worse things than those people did. They've set those same buildings on fire and nobody ever jailed them for 18 years over it. That protest was directly caused by the supreme court's profoundly destabilizing actions prior to the 2022 election. In 2019 they gave themselves powers to investigate, prosecute, judge and punish wildcard crimes against themselves encompassing the whole brazilian territory. Then they started engaging in unconstitutional political censorship targeting Bolsonaro and his supporters. I was there, I saw them do it. Any claims to the contrary are gaslighting.
  - motorest 1y ago
    > You cannot convince me a thousand unarmed civilians attempted a military coup. I don't care about at what level of delusion you're operating. https://en.wikipedia.org/wiki/2022_Brazilian_coup_plot https://en.wikipedia.org/wiki/2022_Brazilian_coup_plot