Brazil's Pix Payment System: A Nightmare for US Finance?

The US House's rejection of bills regarding the Federal Reserve studying or creating a Central Bank Digital Currency (CBDC) sparks debate about the power and politics of US finance. The article contrasts this with Brazil's successful Pix payment system – fast, cheap, and incredibly popular – highlighting the stark difference to slow and expensive US systems. The article argues that the immense power of the US financial industry and the US right's resistance to government intervention are key obstacles to a similar system in the US. Brazil's Pix success offers lessons for other nations, but America may remain trapped by vested interests and crypto fantasies.