Brazil’s President Lula says he respects free speech, the rule of law, and free markets, but he doesn't. Supreme Court Justice Alexandre de Moraes appears close to blocking X and has just frozen the bank accounts of Elon Musk’s Starlink satellite Internet company. And many in Brazil believe Moraes is doing so with the support of Lula.
The freezing of Starlink’s bank account and the expected banning of X are flagrantly illegal acts. They are acts of retaliation for X defying Moraes’ censorship demands, which Brazilian legal experts say violate Brazil’s Constitution. Moraes demanded that X permanently ban politicians and journalists, which would effectively end their careers.
As such, Brazil is now effectively a dictatorship. It is run by two men, Lula and Moraes. They are today ending freedom of speech and free markets. Brazil is no longer safe for foreign investment, and its currency should reflect that.
