Ditching the US Dollar & Creating a Single Currency in Latin America!!

Hello everybody and welcome to Geopolitical Trends. My name is David Oualaalou. I'm so excited to be here with you guys as always, and I mean it. You know, Lula da Silva, Lula da Silva won the elections in Brazil. Now you might think what this has to do with me? A lot. You know, depends on what part of the world you're in. It's a major change. Major change on the global stage. In this video, I am gonna be providing you a detail as to how that change is going to be happening. It's— it's— I'm very familiar with this topic. I spoke about it a month ago during the first round, but in this video, I'm gonna be providing you a more analysis about this one. Before I'll delve deeper, please hit the subscription button and hit the notification button also., so you will be notified every time I upload a new video. And always, I can't thank you enough for your support. So let's dive in into this. Well, this morning, by the time you watch this video, will be about a day or two. The elections have been certified or announced that Lula won the election by a small margin, but it won't matter. That's how in a democratic vote He won the elections, end of story. Bolsonaro has not conceded yet, so it will matter. Life goes on. Brazilians are excited about it, but I'm not here to talk about that. I'm going to be talking about what does Lula have in mind moving forward. So, so what's interesting about it is that now with his winning of the second round, what kind of aspirations Lula may have? Well, he wants to have Brazil play a major, an important role and be a key player in one, one is the process of South America's integration, and I will tell you why in a second, and two, in the revival of the BRICS. That is very, very important. So, but personally, on the analysis I'm going to focus on is from the financial aspect. Remember in my last video I talked about Saudi Arabia joining the BRICS and what does it mean for the petrodollar that the Saudis could drop it? This one here with Lula winning the elections could mean the same, just in a different direction. So, so I find the financial aspects, uh, of what Lula wants to do could set the global financial system on a different trajectory altogether. Yeah, that's how important now his winning the elections, it's gonna be, uh, uh, setting the financial global market. Of course, it's not gonna happen overnight, it's gonna take time, but as always, the trends is what you need to look for. So Lula stated, and I quote, let me get the quote here, he said, and I quote, we are going to restore our relationship with Latin America, God willing, we will create a Latin American currency, end of quote. This is a major challenge now for the United States because the US now is worrying, you know, how this is going to impact, because it will impact US sort of global status as far as the dollar, you know. And I will of course provide you the link for all this, information here. So, so the proposal, what Lula said about having unified currency in Latin America, will imply that the creation of a South American central bank capitalized by all the countries in the region. So, and he said, and I quote, we don't have to depend on the dollar, end of quote. And this is what Lula said during the first round about 4 weeks ago when he was talking to his supporters. That is a major— it's a major, major event should this move forward. Most Latin American countries are in favor of this. So even economists in the region, some well-established economists like Gabriel Galípolo You know, he argued for the implementation of a model in Latin America like that of the European euros. So last year, and I recall this one here, last year, uh, in 2021, the current economic minister in Brazil, Paulo Guedes, you know, he said, uh, he said that a single currency for the Mercosur. Mercosur is an abbreviation, of course, of the Spanish name for the economic bloc called Mercado Común del Sur, which translates to English as the Common Market of the South. You know, basically what he said is that this common currency will allow for a) greater integration, b) free trade area, and c) it creates a currency that could be one, that could be one of the 5 or 6 relevant currencies in the world. So you can just see where this is going. And this is what I'm gonna be, what I'm gonna be watching for, what Lula is gonna be doing his first week in office. Because usually the first month or so will give you an indication of any new president, new coming president, what kind of policies he's gonna pursue or she's gonna pursue. So in this case, I'm going to keep my eyes open on what's going on. And I have some contacts in Brazil. So I'm going to be making sure that the information is as accurate as it can be. Of course, we're not going to be hearing this in the West much because the US now is concerned about it, even though President Biden sent his congratulations to President Lula this morning, as a matter of fact. So the Southern Common Market, or Mercosur for that, just to give you a brief history about it. What is Mercosur? Mercosur is a regional integration process originally established by Argentina, Brazil, Paraguay, Uruguay, and subsequently joined by Venezuela and Bolivia. Well, the latter, Bolivia, that is, still complying with the accession procedures. There are procedures how you become a member of, of an economic bloc. So, so here is my input, my own analysis. If I am to see this, my assessment is that if Brazil puts enough considerable resources behind this proposal of what Lula is proposing as far as a unified currency, uh, we would witness a major development in Latin America and a change in the global financial market or system, that is. So the dollar will become irrelevant in Latin America. So I can just see how Latin America leaders, you know, Latin America's leaders now thinking about the current US and the EU sanctions on Russia and probably saying to themselves, those Latin American leaders saying to themselves, We need to have an alternative to a financial system and be a global leadership. So in a simple term, they're saying or thinking we need to have another alternative to the US dollar and we need to have another alternative to the US global leadership because the world is shifting from a unipolar to a multipolar system. So What you need to know is that President Lula da Silva is the first Brazilian president whose name is well known across the Global South. He is very popular. And as a matter of fact, he's the one who pushed the BRICS to the forefront, per se. He played a major role into this. This is why I said at the beginning, the revival of the BRICS is going to be one of his policies that he's going to pursue. So now with his popularity, so, and he is now the president, will he be able to drive and reshape the trajectory of the multilateral agenda in the world, in world affairs today? That is a fair question to ask because for me personally, and I am sure you do as well, we think in terms of the big picture. And the big picture is the world is shifting, has already shifted from a unipolar to multipolar system, and what comes with that is a change in world affairs. So, and this is why I believe personally that Lula's presidency will most likely revive the BRICS and push it forward on the global stage. Remember in my last video I said Do you think that BRICS or the SCO will overtake the EU? There's a possibility to that. Of course, we can't talk about Latin America without mentioning the investments of China's presence there, you know, China's increase in visibility and investments. You know, most Latin Americans are involved in investments with China. Why? Because China's investments in Latin America allowed many governments in Latin America, whether of the right or on the left, doesn't matter, to be more independent financially. So we are all witnessing, of course, what is happening right now in Argentina with the IMF loan. Remember, the IMF, the International Monetary Fund, and usually when they give a loan, they put some restrictions austerity measures and all that. You know, this is why Lula is pushing for a unified currency so they don't have to deal with IMF anymore. So, so here's the interesting aspects that I would like to share with you. Next year, 2023, will mark the 200th anniversary of the Monroe Doctrine. For those who do not know what Monroe Doctrine is, is basically the, the, the, the treaty that was signed back then during Monroe, the President Monroe, that the US would not allow any other countries to interfere in the affairs of the Southern Hemisphere. So, well, 200th anniversary. Could this spell doom for the Monroe Doctrine, which will be over? You know, some have said it's a relic of the past. You know, others are saying not too fast. So this is why I'm saying you have to look for the trends of what's going to be now coming from Washington regarding Brazil. What kind of policy the United States is going to try to pursue with Brazil? Because the fear is there that what if Latin America end up creating a unified currency? So you take that, you take what China and Russia doing with dumping the US dollar, what Indonesia is doing dumping the US dollar. Turkey, Iran, the Global South. You all see where this is headed. So the US is going to be concerned. So, so here's my question for you for today: will Latin America create a unified currency? What do you think? You know, let me know what your thoughts in the comment section, and I will be happy to answer this one for you. As always, remember, geopolitics influence or impact your daily life in more ways than one. Till next time, guys. Bye-bye.