There's more to the Brazil story, especially since Brazil's story isn't strictly about Brazil. With markets there spiraling into chaos, the government is down to blaming 'speculators.' If that's the case, then speculation has gone global in a lot of critical ways. From currencies to job findings plunging, even something real like the Baltic Dry which is crashing now, too. 

Eurodollar University's Money & Macro Analysis

Bloomberg Brazil Central Bank Rejects Doubts Over Power of Monetary Policy
https://www.bloomberg.com/news/articles/2024-12-19/brazil-central-bank-rejects-doubts-over-monetary-policy

Bloomberg Brazil Traders ‘Sell First, Ask Later’ as Panic Hits Markets
https://www.bloomberg.com/news/articles/2024-12-17/brazil-traders-sell-first-ask-later-as-panic-sweeps-markets

FT Warren Buffett's record cash pile is starting to make people nervous
https://financialpost.com/financial-times/warren-buffett-cash-pile-investors-nervous

Bloomberg Brazil Finance Chief Says Real May Be Under ‘Speculative Attack’
https://www.bloomberg.com/news/articles/2024-12-18/brazil-finance-chief-says-real-may-be-under-speculative-attack

Bloomberg Brazil Spends $17 Billion in Reserves to Lift Cratering Real
https://www.bloomberg.com/news/articles/2024-12-20/central-bank-burns-17-billion-in-reserves-to-lift-brazil-s-real

Bloomberg Brazil’s Wealthy Lament Political Dysfunction as Fortunes Tumble
https://www.bloomberg.com/news/articles/2024-12-20/brazil-s-richest-people-lament-political-dysfunction-as-fortunes-tumble

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