Alexandre de Moraes likes to brag in interviews that he never backs down, always doubling and tripling the bet.
The problem is he’s now gambling with other people’s money and life savings. It’s easy to play tough when the chips belong to Brazilian taxpayers and investors.
To shield Moraes from U.S. sanctions, Justice @FlavioDino declared that foreign sanctions “don’t apply” in Brazil — a gesture meant to defend sovereignty but instead fueling widespread legal uncertainty.
Markets reacted immediately with bank stocks plunging, the Brazilian real sliding past R$5.48, and borrowing costs spiking. All because some Brazilian authorities keep raising the stakes to defend one man’s censorship campaign.
We know Moraes will keep doubling the bet with other people‘s money. The real question is how much more of Brazil’s credibility and prosperity he will burn through before someone calls his bluff.
www.bloomberg.com/news/articles/2025-08-19...
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