This article is the result of a study on Psychoanalysis and Racial Matters which has been conducted by a group of black Brazilian psychoanalysts affiliated to the Círculo Psicanalítico de Minas Gerais — CPMG, Brazil. Even though Brazil is a multiracial and miscegenetic country, the lowest levels of the social pyramid have always been occupied by its black citizens who represent almost half of the Brazilian population. Therefore, the idea that people have about blacks is that they are ugly, dirty and weak: the image of failure. In this article we have considered the effects that are caused by this imaginary psychic register which has been historically produced on the psyche of the black Brazilian. Although Psychoanalysis has had significant influence on mental health in Brazil, it has made little or no contribution to the understanding of this matter. To further our comprehension of this enigma, we pose the question: what does a psychoanalyst hear when a black person speaks?