IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL5.13▼ 0.05% USD/MXN17.49▼ 0.24% USD/CLP932.70▲ 0.85% USD/COP3,235▼ 0.35% USD/PEN3.41▼ 0.04% USD/ARS1,482▼ 0.07% USD/UYU40.22▲ 0.96% USD/PYG6,045▼ 0.17% USD/BOB10.35▲ 6.04% USD/DOP58.37▲ 0.49% USD/CRC448.53▲ 1.22% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.41% USD/NIO36.62▲ 0.63% USD/VES722.19▲ 0.24% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 0.70% USD/TTD6.74▲ 1.05% EUR/BRL5.87▲ 0.84% BRENT 84.84 ▲ 1.85% WTI 79.74 ▲ 2.05% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.31% GOLD 4,028 ▲ 0.77% SILVER 58.23 ▲ 1.03% SOY 1,190 ▼ 1.00% CORN 459.25 ▲ 4.91% WHEAT 636.50 ▲ 1.52% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.61 ▼ 1.33% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,773 ▲ 0.86% ETH 1,789 ▲ 0.85% SOL 75.32 ▲ 0.61% XRP 1.07 ▲ 0.51% BNB 570.01 ▲ 0.60% ADA 0.16 ▲ 1.44% DOGE 0.07 ▲ 0.54% AVAX 6.48 ▲ 0.56% LINK 7.97 ▲ 1.24% DOT 0.84 ▲ 0.65% LTC 43.78 ▲ 0.67% BCH 235.96 ▼ 0.12% TRX 0.32 ▲ 0.24% XLM 0.18 ▼ 0.52% HBAR 0.07 ▼ 0.19% NEAR 1.98 ▲ 3.20% ATOM 1.53 ▼ 0.13% AAVE 96.30 ▲ 2.06% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR16.44▼ 0.21% USD/NGN 1,378 — 0.00% NIKKEI 67,604 ▲ 0.54% CSI300 4,744 ▲ 1.04% HSI 24,297 ▲ 0.34% NIFTY 24,124 ▼ 0.36% KOSPI 6,872 ▲ 0.96% JCI 6,075 ▲ 0.61% USD/JPY162.30▼ 0.08% USD/CNY6.78▼ 0.02% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD1.14▲ 0.12% GBP/USD1.34▼ 0.15% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD1.41▼ 0.17% US10Y 4.6090 ▲ 0.88% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▼ 1.17% IPC MEX 65,973 ▼ 0.79% MERVAL 3,235,295 ▼ 1.37% COLCAP 2,307.67 — UNCH BVL PERÚ 56,917.82 ▼ 0.86% USD/BRL 5.13 ▲ 0.52% USD/MXN 17.49 ▼ 0.24% USD/CLP 932.70 ▲ 0.85% USD/COP 3,235 ▼ 0.85% USD/PEN 3.41 ▼ 0.04% USD/ARS 1,482 ▼ 0.07% USD/UYU 40.22 ▲ 0.96% USD/PYG 6,045 ▲ 1.22% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.37 ▲ 0.49% USD/CRC 448.53 ▲ 1.22% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.41% USD/NIO 36.62 ▲ 0.63% USD/VES 722.19 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 0.70% USD/TTD 6.74 ▲ 1.05% EUR/BRL 5.87 ▲ 0.84% BRENT 84.84 ▲ 1.85% WTI 79.74 ▲ 2.05% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.31% GOLD 4,028 ▲ 0.77% SILVER 58.23 ▲ 1.03% SOY 1,190 ▼ 1.00% CORN 459.25 ▲ 4.91% WHEAT 636.50 ▲ 1.52% COFFEE 330.50 ▼ 3.64% SUGAR 14.76 ▼ 0.81% ORANGE JUICE 137.15 ▼ 7.24% COTTON 81.49 ▲ 1.96% COCOA 5,808 ▼ 1.88% BEEF 234.95 ▼ 0.11% CATTLE 354.20 ▼ 0.11% LITHIUM 70.24 ▼ 2.88% PETR4 40.66 ▲ 2.55% VALE3 72.85 ▼ 1.79% ITUB4 43.52 ▼ 1.76% BBDC4 18.77 ▼ 0.48% ABEV3 15.83 ▲ 0.06% BBAS3 20.24 ▼ 1.65% B3SA3 15.12 ▼ 1.95% WEGE3 44.39 ▼ 4.56% PRIO3 57.20 ▲ 3.16% SUZB3 41.49 ▼ 0.14% RENT3 40.20 ▼ 2.19% AZZA3 19.22 ▲ 0.63% CSAN3 3.90 ▼ 4.18% RAIZ4 0.33 ▼ 5.71% PCAR3 2.59 ▼ 5.13% GMAT3 3.94 ▼ 0.76% PSSA3 54.04 ▼ 1.69% CVCB3 1.25 — 0.00% POSI3 3.99 ▲ 0.50% SLCE3 13.87 ▼ 1.07% NATU3 8.60 ▼ 0.92% BRKM5 6.94 ▲ 4.68% RANI3 7.95 ▼ 0.75% CSNA3 5.24 ▲ 1.16% CMIN3 5.45 ▲ 4.21% USIM5 8.38 ▼ 0.83% GGBR4 22.82 ▼ 0.83% ENEV3 26.88 ▼ 2.43% CPFE3 46.84 ▼ 2.15% CMIG4 11.07 ▼ 2.72% EQTL3 40.21 ▼ 1.71% LREN3 14.15 ▼ 3.21% VIVT3 34.73 ▼ 2.85% RAIL3 14.11 ▼ 1.74% KLABIN 17.48 ▼ 0.34% RAIA DROGASIL 18.20 ▼ 3.04% RDOR3 35.56 ▼ 1.28% HAPV3 10.46 ▼ 1.32% FLRY3 16.15 ▼ 1.64% SMTO3 16.37 — 0.00% UGPA3 30.93 ▲ 0.72% VBBR3 32.76 ▼ 0.73% BBSE3 40.28 ▼ 0.17% BPAC11 57.52 ▼ 2.06% CURY3 33.12 ▼ 3.19% AERI3 2.08 ▼ 0.48% VIVARA 23.11 ▼ 1.79% COMPASS 24.77 ▼ 2.86% VAMOS 3.02 ▼ 1.31% SANB11 27.37 ▼ 0.91% ASAI3 8.71 ▼ 1.80% SBSP3 30.37 ▼ 2.38% WALMEX 49.66 ▲ 0.69% GMEXICO 195.76 ▼ 1.74% FEMSA 225.36 ▲ 0.92% CEMEX 21.79 ▼ 0.32% GFNORTE 181.91 ▼ 2.51% BIMBO 55.97 ▼ 0.23% TELEVISA 9.61 ▼ 1.33% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.68 ▲ 1.05% GRUMA 281.37 ▼ 0.57% KIMBER 38.22 ▲ 0.24% SQM-B 67,211 ▼ 0.80% COPEC 6,057 ▼ 1.33% BSANTANDER 78.20 ▼ 1.01% FALABELLA 5,905 — 0.00% ENELAM 84.20 ▼ 1.41% CENCOSUD 2,040 ▼ 0.25% CMPC 1,078 ▼ 2.80% BANCO CHILE 185.00 ▼ 2.05% LATAM AIR 24.90 ▼ 5.18% YPF 77,175 ▲ 3.73% GGAL 8,095 ▼ 2.88% PAMPA 5,225 ▲ 0.87% TXAR 661.50 ▼ 1.42% ALUAR 964.50 ▼ 1.13% TGS 9,580 ▼ 0.16% CEPU 2,324 ▼ 3.01% MIRGOR 17,050 ▼ 1.16% COME 44.85 ▼ 2.31% LOMA NEGRA 3,500 ▼ 2.30% BYMA 308.25 ▼ 1.83% TELECOM ARG 4,248 ▲ 0.06% ECOPETROL 15.88 ▲ 1.93% BANCOLOMBIA 80.42 ▼ 3.05% GRUPO AVAL 4.91 ▼ 3.16% CREDICORP 389.22 ▼ 2.89% SOUTHERN COPPER 174.53 ▼ 0.74% BUENAVENTURA 29.82 ▼ 0.60% MERCADOLIBRE 1,867 ▲ 0.81% NUBANK 13.67 ▼ 0.65% XP 16.37 ▼ 3.25% PAGSEGURO 9.28 ▲ 0.32% STONE 11.15 ▼ 0.54% GLOBANT 32.12 ▲ 7.21% TECNOGLASS 42.84 ▼ 2.41% GAP AIRPORT 232.77 ▼ 1.22% ASUR 278.66 ▼ 2.27% OMA AIRPORT 106.13 ▼ 1.77% AMX ADR 26.02 ▲ 0.04% FEMSA ADR 129.01 ▲ 1.06% CEMEX ADR 12.45 ▼ 0.24% PETROBRAS ADR 17.88 ▲ 3.23% VALE ADR 14.18 ▼ 1.94% ITAU ADR 8.47 ▼ 1.74% SANTANDER BR 5.34 ▼ 1.02% AMBEV ADR 3.06 ▼ 0.33% CSN 1.03 ▲ 1.49% GERDAU 4.49 ▼ 0.22% LATAM ADR 53.33 ▼ 5.53% BTC 62,773 ▲ 0.86% ETH 1,789 ▲ 0.85% SOL 75.32 ▲ 0.61% XRP 1.07 ▲ 0.51% BNB 570.01 ▲ 0.60% ADA 0.16 ▲ 1.44% DOGE 0.07 ▲ 0.54% AVAX 6.48 ▲ 0.56% LINK 7.97 ▲ 1.24% DOT 0.84 ▲ 0.65% LTC 43.78 ▲ 0.67% BCH 235.96 ▼ 0.12% TRX 0.32 ▲ 0.24% XLM 0.18 ▼ 0.52% HBAR 0.07 ▼ 0.19% NEAR 1.98 ▲ 3.20% ATOM 1.53 ▼ 0.13% AAVE 96.30 ▲ 2.06% SELIC 14.25% EMBRAER 83.01 ▼ 1.88% EMBRAER ADR 64.48 ▼ 2.32% JBS 11.80 ▼ 0.92% JBS BDR 60.61 ▼ 0.28% MBRF3 15.72 ▲ 1.09% MBRFY 3.03 ▲ 0.33% INTER 5.65 ▼ 2.92% EGX 52,608 ▲ 0.67% USD/ZAR 16.44 ▼ 0.12% USD/NGN 1,378 — 0.00% NIKKEI 67,604 ▲ 0.54% CSI300 4,744 ▲ 1.04% HSI 24,297 ▲ 0.34% NIFTY 24,124 ▼ 0.36% KOSPI 6,872 ▲ 0.96% JCI 6,075 ▲ 0.61% USD/JPY 162.30 ▼ 0.08% USD/CNY 6.7790 ▲ 0.12% DAX 25,114 ▲ 0.19% CAC 8,365 ▲ 0.31% FTSE 10,498 ▲ 0.01% MIB 52,809 ▲ 0.37% IBEX 19,336 ▼ 0.25% STOXX 641.01 ▼ 0.01% EUR/USD 1.1397 ▲ 0.09% GBP/USD 1.3366 ▲ 0.13% SPX 7,515 ▼ 0.79% DJI 52,499 ▼ 0.26% NDX 29,264 ▼ 1.88% RUT 2,953 ▼ 0.83% TSX 35,253 ▼ 0.15% VIX 17.16 ▲ 14.17% USD/CAD 1.4131 ▼ 0.16% US10Y 4.6090 ▲ 0.88%
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Opinion: The Curmudgeon on the Coup d’état

By · April 1, 2014 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – No, the Curmudgeon was not in Brazil on April Fools Day, 1964, but he’s here now and has been observing the peculiar form of remembering that day, the first in power of the Brazilian military after the coup d’état carried out March 31st. Many have remarked on the strangeness of having no date on which to celebrate the end of the dictatorship.

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Michael Royster, aka The Curmudgeon.
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The end of Portuguese rule is celebrated on September 7th; the end of the imperial monarchy is celebrated on November 15th; but people can’t agree on when to celebrate democracy succeeding the military dictatorship. Many people like to consider early 1985, when Tancredo Neves was elected President, and his Vice President José Sarney took office.

But that election was indirect, done by a docile Congress stacked with military appointed members. Back in 1983 and 1984, the “diretas já” election campaign had brought millions of demonstrators out on the streets, but the campaign was, in the end, unsuccessful.

Even before that, in late 1979, the Congress passed an amnesty law, covering all “political” or “electoral” crimes committed between 1961 and August 1979. Some, if not most, of these crimes had been committed by the military. That amnesty statute, which under different circumstances might have been celebrated, is now under fierce attack from those wishing to uncover what happened in the dungeons of Brazil.

The new Federal Constitution, a civilian constitution prepared by a civilian constituent assembly, was proclaimed on October 5, 1988—why not use that date to commemorate? We may as well ask why it is that almost no one in the US remembers on what date the U.S. Constitution was proclaimed (September 17, 1787).

Or, perhaps, you could choose November 15, 1989, the first time since 1960 that Brazilians could go to the polls to elect a President. In the event, however, no candidate received a majority of votes, so there was a runoff election where the people voted in Fernando Collor de Mello — who was subsequently impeached. Not a good role model.

Pretty much everyone is in agreement that, after General Figueiredo succeeded to the presidency in 1979, political life began to improve in Brazil. But he was never very popular, perhaps because of his generally pugnacious attitude. He is widely quoted as having said, in 1979, “I’m going to turn this country into a democracy and anyone who opposes me will be arrested and crushed.” Not a good role model.

So, Brazilians now use the date of March 31st to remember when life became unhappy for almost everyone on the left side of the political spectrum. For some few, it’s reminiscent of “Schadenfreude”, feeling happy over someone else’s troubles: “Boy, am I glad we don’t have that any more!” For some few others, it’s almost the equally untranslatable “saudades”, fond remembrances: “Ah, those were the days!”

But of course it’s neither of those. Rather, it’s morphed into a way for Brazilians to remind themselves that yes, there really was a military dictatorship, which did both good and evil, and which petered out over time, never (we fervently hope) to return.

The Curmudgeon salutes, in this context, President Dilma. She was tortured, but she has never tried to dine out on that politically. Her words and her attitude as President, on this year’s historic occasion, as in prior years, are those of a stateswoman, not a partisan.


Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, fetched up on these shores exactly 36 years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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