IBOV 176,641 ▲ 0.51% IPSA 11,024 ▲ 1.05% IPC MEX 66,514 ▲ 0.82% MERVAL 3,229,324 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 ▲ 1.32% USD/BRL5.07▼ 1.23% USD/MXN17.41▼ 0.67% USD/CLP925.95▼ 0.75% USD/COP3,249▼ 0.42% USD/PEN3.41▼ 0.05% USD/ARS1,470▼ 0.88% USD/UYU40.23▲ 0.99% USD/PYG6,039▲ 1.12% USD/BOB10.35▲ 6.04% USD/DOP58.20▲ 0.20% USD/CRC448.93▲ 1.31% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.38% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.64% USD/TTD6.75▲ 1.19% EUR/BRL5.79▼ 0.44% BRENT 85.67 ▲ 2.85% WTI 80.03 ▲ 2.42% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.29% GOLD 4,057 ▲ 1.50% SILVER 59.04 ▲ 2.43% SOY 1,197 ▼ 0.46% CORN 460.75 ▲ 5.25% WHEAT 645.75 ▲ 2.99% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▲ 1.91% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 662.00 ▼ 0.38% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,533 ▲ 1.00% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,668 ▲ 3.90% ETH 1,869 ▲ 5.38% SOL 77.50 ▲ 3.52% XRP 1.10 ▲ 3.67% BNB 580.00 ▲ 2.36% ADA 0.16 ▲ 4.24% DOGE 0.07 ▲ 2.95% AVAX 6.66 ▲ 3.35% LINK 8.31 ▲ 5.59% DOT 0.86 ▲ 2.57% LTC 45.01 ▲ 3.50% BCH 234.36 ▼ 0.79% TRX 0.33 ▲ 0.53% XLM 0.18 ▲ 1.81% HBAR 0.07 ▲ 1.06% NEAR 2.01 ▲ 4.81% ATOM 1.55 ▲ 1.24% AAVE 98.73 ▲ 4.63% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.14 ▲ 2.95% INTER 5.70 ▲ 0.89% EGX 52,299 ▼ 0.59% USD/ZAR16.36▼ 0.68% USD/NGN 1,381 — 0.00% NIKKEI 67,919 ▲ 0.26% CSI300 4,797 ▲ 2.15% HSI 24,341 — 0.00% NIFTY 24,052 ▼ 0.66% KOSPI 7,230 ▲ 5.44% JCI 6,040 ▲ 0.03% USD/JPY162.09▼ 0.22% USD/CNY 6.7624 — 0.00% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD1.14▲ 0.48% GBP/USD1.34▲ 0.10% SPX 7,544 ▲ 0.38% DJI 52,508 ▲ 0.02% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.39% TSX 35,321 ▲ 0.19% VIX 16.50 ▼ 3.85% USD/CAD1.40▼ 0.76% US10Y 4.5850 ▼ 0.52% IBOV 176,641 ▲ 0.51% IPSA 11,024 ▲ 1.05% IPC MEX 66,514 ▲ 0.82% MERVAL 3,229,324 ▼ 0.18% COLCAP 2,298.73 ▼ 0.39% BVL PERÚ 56,428.20 ▲ 1.32% USD/BRL 5.07 ▼ 1.23% USD/MXN 17.41 ▼ 0.67% USD/CLP 925.95 ▼ 0.75% USD/COP 3,249 ▼ 0.42% USD/PEN 3.41 ▼ 0.05% USD/ARS 1,470 ▼ 0.88% USD/UYU 40.23 ▲ 0.99% USD/PYG 6,039 ▲ 1.12% USD/BOB 10.35 ▲ 6.04% USD/DOP 58.20 ▲ 0.20% USD/CRC 448.93 ▲ 1.31% USD/GTQ 7.62 ▲ 2.07% USD/HNL 26.73 ▲ 1.38% 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 157.59 ▲ 0.64% USD/TTD 6.75 ▲ 1.19% EUR/BRL 5.79 ▼ 0.44% BRENT 85.67 ▲ 2.85% WTI 80.03 ▲ 2.42% IRON ORE 161.91 — — COPPER 6.38 ▲ 2.29% GOLD 4,057 ▲ 1.50% SILVER 59.04 ▲ 2.43% SOY 1,197 ▼ 0.46% CORN 460.75 ▲ 5.25% WHEAT 645.75 ▲ 2.99% COFFEE 327.00 ▼ 4.22% SUGAR 14.92 ▲ 1.15% ORANGE JUICE 140.90 ▼ 1.16% COTTON 81.68 ▲ 2.32% COCOA 5,936 ▲ 4.21% BEEF 231.58 ▼ 1.34% CATTLE 349.63 ▼ 1.33% LITHIUM 71.58 ▲ 1.91% PETR4 40.66 — 0.00% VALE3 74.01 ▲ 1.59% ITUB4 43.63 ▲ 0.25% BBDC4 18.63 ▼ 0.75% ABEV3 15.81 ▼ 0.13% BBAS3 20.59 ▲ 1.73% B3SA3 15.33 ▲ 1.39% WEGE3 44.20 ▼ 0.43% PRIO3 57.57 ▲ 0.65% SUZB3 41.11 ▼ 0.92% RENT3 40.54 ▲ 0.85% AZZA3 18.85 ▼ 1.93% CSAN3 3.89 ▼ 0.26% RAIZ4 0.31 ▼ 6.06% PCAR3 2.45 ▼ 5.41% GMAT3 3.96 ▲ 0.51% PSSA3 54.29 ▲ 0.46% CVCB3 1.38 ▲ 10.40% POSI3 3.99 — 0.00% SLCE3 13.81 ▼ 0.43% NATU3 8.55 ▼ 0.58% BRKM5 6.83 ▼ 1.59% RANI3 8.01 ▲ 0.75% CSNA3 5.20 ▼ 0.76% CMIN3 5.10 ▼ 6.42% USIM5 8.23 ▼ 1.79% GGBR4 23.32 ▲ 2.19% ENEV3 27.17 ▲ 1.08% CPFE3 47.20 ▲ 0.77% CMIG4 11.20 ▲ 1.17% EQTL3 40.95 ▲ 1.84% LREN3 14.29 ▲ 0.99% VIVT3 35.52 ▲ 2.27% RAIL3 14.13 ▲ 0.14% KLABIN 17.32 ▼ 0.92% RAIA DROGASIL 18.60 ▲ 2.20% RDOR3 36.05 ▲ 1.38% HAPV3 11.19 ▲ 6.98% FLRY3 16.41 ▲ 1.61% SMTO3 16.12 ▼ 1.53% UGPA3 30.11 ▼ 2.65% VBBR3 33.30 ▲ 1.65% BBSE3 40.39 ▲ 0.27% BPAC11 57.95 ▲ 0.75% CURY3 33.59 ▲ 1.42% AERI3 2.07 ▼ 0.48% VIVARA 23.43 ▲ 1.38% COMPASS 25.20 ▲ 1.74% VAMOS 3.15 ▲ 4.30% SANB11 27.34 ▼ 0.11% ASAI3 8.66 ▼ 0.57% SBSP3 30.34 ▼ 0.10% WALMEX 49.32 ▼ 0.66% GMEXICO 199.61 ▲ 2.06% FEMSA 232.52 ▲ 3.18% CEMEX 22.24 ▲ 2.11% GFNORTE 186.00 ▲ 2.16% BIMBO 56.55 ▲ 1.22% TELEVISA 9.49 ▼ 1.25% AMX 22.83 ▲ 1.06% GAP 394.05 ▼ 3.46% ASUR 275.61 ▼ 1.09% OMA 235.49 ▲ 0.93% KOF 180.00 ▼ 0.92% GRUMA 280.31 ▼ 0.38% KIMBER 38.53 ▲ 0.81% SQM-B 67,900 ▲ 1.03% COPEC 6,210 ▲ 2.52% BSANTANDER 78.64 ▲ 0.56% FALABELLA 5,875 ▼ 0.51% ENELAM 85.75 ▲ 1.84% CENCOSUD 2,040 — 0.00% CMPC 1,103 ▲ 2.32% BANCO CHILE 189.50 ▲ 2.43% LATAM AIR 24.90 — 0.00% YPF 77,775 ▲ 0.78% GGAL 7,910 ▼ 2.10% PAMPA 5,230 ▲ 0.10% TXAR 662.00 ▼ 0.38% ALUAR 949.00 ▼ 1.61% TGS 9,710 ▲ 1.46% CEPU 2,327 ▲ 0.35% MIRGOR 16,750 ▼ 1.47% COME 45.75 ▲ 2.17% LOMA NEGRA 3,533 ▲ 1.00% BYMA 301.00 ▼ 2.35% TELECOM ARG 4,333 ▲ 1.94% ECOPETROL 16.16 ▲ 1.76% BANCOLOMBIA 82.10 ▲ 2.09% GRUPO AVAL 4.95 ▲ 0.81% CREDICORP 392.24 ▲ 0.78% SOUTHERN COPPER 182.38 ▲ 4.50% BUENAVENTURA 31.03 ▲ 4.06% MERCADOLIBRE 1,874 ▲ 0.35% NUBANK 13.99 ▲ 2.34% XP 16.87 ▲ 3.05% PAGSEGURO 9.28 — 0.00% STONE 11.30 ▲ 1.35% GLOBANT 30.92 ▼ 3.74% TECNOGLASS 44.19 ▲ 3.15% GAP AIRPORT 225.95 ▼ 2.93% ASUR 275.61 ▼ 1.09% OMA AIRPORT 107.64 ▲ 1.42% AMX ADR 26.18 ▲ 0.58% FEMSA ADR 133.17 ▲ 3.22% CEMEX ADR 12.80 ▲ 2.81% PETROBRAS ADR 17.92 ▲ 0.22% VALE ADR 14.59 ▲ 2.89% ITAU ADR 8.55 ▲ 0.94% SANTANDER BR 5.40 ▲ 0.84% AMBEV ADR 3.09 ▲ 0.98% CSN 1.04 ▲ 0.49% GERDAU 4.61 ▲ 2.67% LATAM ADR 53.51 ▲ 0.34% BTC 64,668 ▲ 3.90% ETH 1,869 ▲ 5.38% SOL 77.50 ▲ 3.52% XRP 1.10 ▲ 3.67% BNB 580.00 ▲ 2.36% ADA 0.16 ▲ 4.24% DOGE 0.07 ▲ 2.95% AVAX 6.66 ▲ 3.35% LINK 8.31 ▲ 5.59% DOT 0.86 ▲ 2.57% LTC 45.01 ▲ 3.50% BCH 234.36 ▼ 0.79% TRX 0.33 ▲ 0.53% XLM 0.18 ▲ 1.81% HBAR 0.07 ▲ 1.06% NEAR 2.01 ▲ 4.81% ATOM 1.55 ▲ 1.24% AAVE 98.73 ▲ 4.63% SELIC 14.25% EMBRAER 82.49 ▼ 0.63% EMBRAER ADR 64.91 ▲ 0.67% JBS 11.83 ▲ 0.25% JBS BDR 59.75 ▼ 1.42% MBRF3 16.09 ▲ 2.35% MBRFY 3.14 ▲ 2.95% INTER 5.70 ▲ 0.89% EGX 52,299 ▼ 0.59% USD/ZAR 16.35 ▲ 0.06% USD/NGN 1,381 — 0.00% NIKKEI 67,919 ▲ 0.26% CSI300 4,797 ▲ 2.15% HSI 24,341 — 0.00% NIFTY 24,052 ▼ 0.66% KOSPI 7,230 ▲ 5.44% JCI 6,040 ▲ 0.03% USD/JPY 162.05 ▼ 0.09% USD/CNY 6.7624 — 0.00% DAX 25,147 ▲ 0.13% CAC 8,367 ▲ 0.03% FTSE 10,529 ▲ 0.30% MIB 52,863 ▲ 0.10% IBEX 19,357 ▲ 0.11% STOXX 642.10 ▲ 0.17% EUR/USD 1.1439 ▲ 0.12% GBP/USD 1.3402 ▲ 0.11% SPX 7,544 ▲ 0.38% DJI 52,508 ▲ 0.02% NDX 29,586 ▲ 1.10% RUT 2,965 ▲ 0.39% TSX 35,321 ▲ 0.19% VIX 16.50 ▼ 3.85% USD/CAD 1.4048 ▼ 0.09% US10Y 4.5850 ▼ 0.52%
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Opinion: The Dark Side of Carnival

By · February 20, 2015 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – Carnival is all but ended; the only thing left on the agenda is the “Parade of Champions” this coming Saturday, when the top six finishers all get to go out again. This year’s winner (for the thirteenth time) was Beija-Flor, the school everybody loves to hate, and vice versa.

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This year’s victory was financed, at least in part, by the rulers of Equatorial Guinea, a relatively minuscule state located in and on the Gulf of Guinea, sandwiched between Chad and Gabon. The country’s “President” took over in 1979 in a palace coup and has remained in office for 35 years. Because of its oil riches, it has one of the highest per capita incomes in all Africa.

Except that, paraphrasing Orwell, “all Capitas are equal, but some Capitas are more equal than others.” The two most equal Capitas are billionaire bloodthirsty dictator Teodoro Obiang, and his jetsetting playboy son Teodoro Obiang. This last worthy has a few apartments in Brazil, worth perhaps less than his apartments in Paris, but still…. “Teodorin” (as Capita Minor is affectionately known in these parts) needs this pied-à-terre because he LOVES Carnival. And so does his Daddy, Magna Capita.

Which is why some Capita from Equatorial Guinea agreed to finance Beija-Flor’s 2015 Carnival, to the tune of R$10 million or so. And why some Capita from Equatorial Guinea rented from LIESA two of the largest “camarotes” overlooking the Carnival parades (cost never disclosed). And why Magna Capita popped over from Bata (or was it Malabo) in a private jet, accompanied by ten bodyguards and forty sycophants.

This is somewhat surprising, because Beija-Flor has always had luxurious performances and displays, the sort that only big money can buy. The samba school itself has long been regally financed by the “Capo di tutti Capi” of the numbers racket “bicheiros” in Rio. Perhaps they realized that just being a Capo is not as lucrative as being a Capita.

Or perhaps they recognized that, having come in seventh out of twelve last year, they needed to up the stakes a bit in order to guarantee a return to normalcy. Up them they did, getting perfect ten’s in eight out of nine judging categories, to finish 0.3 points in front of Salgueiro.

The final and tie-breaking category was “evolução” which has lot to do with survival of the fittest. All the media reported that Beija-Flor had occasionally opened up largish gaps between “alas” and floats: that’s supposed to cost them points. Apparently, not one of the four judges was able to see any gap, much less “mind the gap”. [Salgueiro supporters are justifiably livid.]

We can tie this into the latest political scandals, too. Lula, both as President and as ex-President, has made several trips to Equatorial Guinea, always financed by Odebrecht, one of the heavy construction cartel. Why?

Worse yet, in 2013, President Dilma forgave the sovereign debts of many African countries. Among them was poor little Equatorial Guinea, to the tune of R$27 million. So now you know where the Capita got their Carnival Capital.

Michael Royster, aka THE CURMUDGEON, fetched up on Carioca shores some 37+ years ago and still loves them; his favorite spectator sport is politics, viewed from a WASP-like perspective.

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