IBOV 177,247 ▲ 2.61% IPSA 10,977 ▼ 0.44% IPC MEX 66,760 ▲ 0.99% MERVAL 3,257,101 ▲ 1.71% COLCAP 2,291.02 ▼ 0.08% BVL PERÚ 56,194.27 ▲ 1.39% USD/BRL5.11▼ 0.20% USD/MXN17.48▼ 0.38% USD/CLP924.64▼ 0.33% USD/COP3,246▼ 2.90% USD/PEN3.39▼ 0.31% USD/ARS1,487▼ 0.03% USD/UYU40.22▲ 1.20% USD/PYG6,055▲ 1.53% USD/BOB10.14▲ 4.01% USD/DOP58.48▼ 0.12% USD/CRC448.82▲ 1.40% USD/GTQ7.63▲ 2.28% USD/HNL26.72▲ 1.50% USD/NIO36.62▲ 0.26% USD/VES707.92▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD158.07▲ 0.80% USD/TTD6.75▲ 1.32% EUR/BRL5.83▼ 1.09% BRENT 75.86 ▼ 0.58% WTI 71.25 ▼ 1.15% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.01% GOLD 4,112 ▼ 0.46% SILVER 59.99 ▼ 0.65% SOY 1,191 ▲ 0.97% CORN 460.50 ▲ 7.66% WHEAT 639.75 ▲ 4.66% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.75 ▼ 4.10% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.31 ▼ 0.70% PETR4 39.49 ▲ 0.71% VALE3 74.51 ▲ 1.86% ITUB4 44.05 ▲ 3.43% BBDC4 18.70 ▲ 3.89% ABEV3 15.88 ▲ 1.02% BBAS3 20.57 ▲ 2.85% B3SA3 15.45 ▲ 4.46% WEGE3 46.47 ▲ 1.60% PRIO3 55.39 ▼ 0.40% SUZB3 41.44 ▲ 1.00% RENT3 40.82 ▲ 3.60% AZZA3 19.28 ▲ 4.44% CSAN3 4.01 ▲ 3.89% RAIZ4 0.36 ▼ 2.70% PCAR3 2.77 ▲ 0.36% GMAT3 3.97 ▲ 1.02% PSSA3 54.50 ▲ 2.16% CVCB3 1.26 ▲ 0.80% POSI3 3.97 ▲ 3.12% SLCE3 14.04 ▲ 1.81% NATU3 8.55 ▲ 1.06% BRKM5 6.60 ▲ 3.77% RANI3 8.01 ▲ 1.91% CSNA3 5.17 ▲ 7.71% CMIN3 5.10 ▲ 5.59% USIM5 8.47 ▲ 1.44% GGBR4 22.93 ▲ 2.00% ENEV3 27.29 ▲ 4.16% CPFE3 47.53 ▲ 2.68% CMIG4 11.32 ▲ 2.17% EQTL3 40.67 ▲ 2.94% LREN3 14.69 ▲ 3.82% VIVT3 35.50 ▲ 2.90% RAIL3 14.02 ▲ 1.96% KLABIN 17.48 ▲ 0.46% RAIA DROGASIL 18.87 ▲ 4.08% RDOR3 36.09 ▲ 2.67% HAPV3 10.55 ▲ 4.77% FLRY3 16.33 ▲ 3.68% SMTO3 16.20 ▲ 0.93% UGPA3 30.48 ▲ 1.26% VBBR3 32.71 ▲ 1.90% BBSE3 40.14 ▲ 2.19% BPAC11 58.15 ▲ 4.44% CURY3 34.04 ▲ 4.10% AERI3 2.08 ▲ 0.97% VIVARA 23.41 ▲ 3.68% COMPASS 25.17 ▲ 1.99% VAMOS 3.07 ▲ 3.72% SANB11 27.36 ▲ 4.23% ASAI3 8.83 ▲ 4.37% SBSP3 30.95 ▲ 3.17% WALMEX 49.46 ▲ 0.90% GMEXICO 199.37 ▲ 2.06% FEMSA 223.89 ▲ 0.68% CEMEX 21.97 ▲ 1.20% GFNORTE 188.00 ▲ 1.43% BIMBO 56.00 ▲ 0.13% TELEVISA 9.67 ▲ 1.90% AMX 23.05 ▲ 1.81% GAP 415.01 ▲ 0.31% ASUR 287.73 ▲ 1.45% OMA 237.60 ▼ 0.17% KOF 182.16 ▲ 0.70% GRUMA 283.98 ▲ 0.60% KIMBER 38.28 ▼ 0.42% SQM-B 67,923 ▼ 1.70% COPEC 6,009 ▼ 0.18% BSANTANDER 78.50 ▲ 1.29% FALABELLA 5,897 ▲ 0.79% ENELAM 85.05 ▲ 1.06% CENCOSUD 2,029 ▼ 1.33% CMPC 1,113 ▲ 1.68% BANCO CHILE 188.11 ▲ 0.59% LATAM AIR 26.06 ▼ 1.29% YPF 74,000 ▼ 2.34% GGAL 8,275 ▲ 5.01% PAMPA 5,170 ▼ 0.67% TXAR 669.00 ▲ 0.68% ALUAR 975.00 ▲ 0.67% TGS 9,530 ▲ 2.36% CEPU 2,350 ▲ 1.51% MIRGOR 17,025 ▼ 1.02% COME 45.80 ▲ 0.84% LOMA NEGRA 3,553 ▲ 1.57% BYMA 311.50 ▲ 0.57% TELECOM ARG 4,175 ▲ 1.34% ECOPETROL 15.56 ▲ 1.07% BANCOLOMBIA 83.47 ▲ 3.13% GRUPO AVAL 5.10 ▲ 1.59% CREDICORP 401.41 ▲ 2.42% SOUTHERN COPPER 176.09 ▲ 0.95% BUENAVENTURA 30.24 ▲ 2.34% MERCADOLIBRE 1,880 ▲ 3.99% NUBANK 13.88 ▲ 1.50% XP 17.00 ▲ 3.56% PAGSEGURO 9.31 ▲ 3.39% STONE 11.24 ▲ 2.55% GLOBANT 30.04 ▼ 3.99% TECNOGLASS 44.31 ▲ 2.70% GAP AIRPORT 237.28 ▲ 1.20% ASUR 287.73 ▲ 1.45% OMA AIRPORT 108.52 ▲ 0.17% AMX ADR 26.24 ▲ 1.55% FEMSA ADR 127.98 ▲ 0.77% CEMEX ADR 12.54 ▲ 1.33% PETROBRAS ADR 17.17 ▲ 0.82% VALE ADR 14.54 ▲ 2.22% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.41 ▲ 5.16% AMBEV ADR 3.09 ▲ 1.48% CSN 1.03 ▲ 7.36% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.92 ▼ 0.21% BTC 63,840 ▲ 1.02% ETH 1,788 ▲ 2.49% SOL 77.61 ▼ 0.56% XRP 1.10 ▲ 0.64% BNB 576.07 ▲ 1.34% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.29% AVAX 6.74 ▲ 0.85% LINK 7.91 ▲ 2.38% DOT 0.87 ▲ 5.93% LTC 44.57 ▲ 1.84% BCH 246.72 ▲ 3.76% TRX 0.33 ▼ 0.62% XLM 0.19 ▲ 2.02% HBAR 0.07 — 0.00% NEAR 1.89 ▼ 1.33% ATOM 1.58 ▲ 1.95% AAVE 95.06 ▲ 4.17% SELIC 14.25% EMBRAER 85.02 ▲ 1.38% EMBRAER ADR 66.54 ▲ 1.53% JBS 11.93 ▲ 1.66% JBS BDR 60.80 ▲ 1.25% MBRF3 15.67 ▲ 1.69% MBRFY 3.03 ▲ 1.00% INTER 5.86 ▲ 2.54% EGX 52,312 ▲ 0.54% USD/ZAR16.31▼ 0.10% USD/NGN1,376▼ 0.12% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY161.68▼ 0.43% USD/CNY6.76▼ 0.42% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD1.14▼ 0.08% GBP/USD1.34▲ 0.03% SPX 7,566 ▲ 0.30% DJI 52,630 ▲ 0.27% NDX 29,823 ▲ 0.32% RUT 2,982 ▼ 0.37% TSX 35,244 ▲ 0.12% VIX 15.36 ▼ 3.03% USD/CAD1.41▼ 0.14% US10Y 4.5650 ▲ 0.57% IBOV 177,247 ▲ 2.61% IPSA 10,977 ▼ 0.44% IPC MEX 66,760 ▲ 0.99% MERVAL 3,257,101 ▲ 1.71% COLCAP 2,291.02 ▼ 0.08% BVL PERÚ 56,194.27 ▲ 1.39% USD/BRL 5.11 ▼ 0.20% USD/MXN 17.48 ▼ 0.38% USD/CLP 924.64 ▼ 0.33% USD/COP 3,246 ▼ 2.91% USD/PEN 3.39 ▼ 0.31% USD/ARS 1,487 ▼ 0.03% USD/UYU 40.22 ▲ 1.20% USD/PYG 6,055 ▲ 1.53% USD/BOB 10.14 ▲ 4.01% USD/DOP 58.48 ▼ 0.12% USD/CRC 448.82 ▲ 1.40% USD/GTQ 7.63 ▲ 2.28% USD/HNL 26.72 ▲ 1.50% USD/NIO 36.62 ▲ 0.26% USD/VES 707.92 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 158.07 ▲ 0.80% USD/TTD 6.75 ▲ 1.32% EUR/BRL 5.83 ▼ 1.10% BRENT 75.86 ▼ 0.58% WTI 71.25 ▼ 1.15% IRON ORE 161.91 — — COPPER 6.28 ▲ 1.01% GOLD 4,112 ▼ 0.46% SILVER 59.99 ▼ 0.65% SOY 1,191 ▲ 0.97% CORN 460.50 ▲ 7.66% WHEAT 639.75 ▲ 4.66% COFFEE 337.75 ▼ 5.38% SUGAR 14.86 ▼ 1.72% ORANGE JUICE 143.75 ▼ 4.10% COTTON 80.87 ▲ 6.18% COCOA 5,973 ▼ 5.33% BEEF 235.00 ▼ 0.11% CATTLE 354.38 ▼ 0.50% LITHIUM 72.31 ▼ 0.70% PETR4 39.49 ▲ 0.71% VALE3 74.51 ▲ 1.86% ITUB4 44.05 ▲ 3.43% BBDC4 18.70 ▲ 3.89% ABEV3 15.88 ▲ 1.02% BBAS3 20.57 ▲ 2.85% B3SA3 15.45 ▲ 4.46% WEGE3 46.47 ▲ 1.60% PRIO3 55.39 ▼ 0.40% SUZB3 41.44 ▲ 1.00% RENT3 40.82 ▲ 3.60% AZZA3 19.28 ▲ 4.44% CSAN3 4.01 ▲ 3.89% RAIZ4 0.36 ▼ 2.70% PCAR3 2.77 ▲ 0.36% GMAT3 3.97 ▲ 1.02% PSSA3 54.50 ▲ 2.16% CVCB3 1.26 ▲ 0.80% POSI3 3.97 ▲ 3.12% SLCE3 14.04 ▲ 1.81% NATU3 8.55 ▲ 1.06% BRKM5 6.60 ▲ 3.77% RANI3 8.01 ▲ 1.91% CSNA3 5.17 ▲ 7.71% CMIN3 5.10 ▲ 5.59% USIM5 8.47 ▲ 1.44% GGBR4 22.93 ▲ 2.00% ENEV3 27.29 ▲ 4.16% CPFE3 47.53 ▲ 2.68% CMIG4 11.32 ▲ 2.17% EQTL3 40.67 ▲ 2.94% LREN3 14.69 ▲ 3.82% VIVT3 35.50 ▲ 2.90% RAIL3 14.02 ▲ 1.96% KLABIN 17.48 ▲ 0.46% RAIA DROGASIL 18.87 ▲ 4.08% RDOR3 36.09 ▲ 2.67% HAPV3 10.55 ▲ 4.77% FLRY3 16.33 ▲ 3.68% SMTO3 16.20 ▲ 0.93% UGPA3 30.48 ▲ 1.26% VBBR3 32.71 ▲ 1.90% BBSE3 40.14 ▲ 2.19% BPAC11 58.15 ▲ 4.44% CURY3 34.04 ▲ 4.10% AERI3 2.08 ▲ 0.97% VIVARA 23.41 ▲ 3.68% COMPASS 25.17 ▲ 1.99% VAMOS 3.07 ▲ 3.72% SANB11 27.36 ▲ 4.23% ASAI3 8.83 ▲ 4.37% SBSP3 30.95 ▲ 3.17% WALMEX 49.46 ▲ 0.90% GMEXICO 199.37 ▲ 2.06% FEMSA 223.89 ▲ 0.68% CEMEX 21.97 ▲ 1.20% GFNORTE 188.00 ▲ 1.43% BIMBO 56.00 ▲ 0.13% TELEVISA 9.67 ▲ 1.90% AMX 23.05 ▲ 1.81% GAP 415.01 ▲ 0.31% ASUR 287.73 ▲ 1.45% OMA 237.60 ▼ 0.17% KOF 182.16 ▲ 0.70% GRUMA 283.98 ▲ 0.60% KIMBER 38.28 ▼ 0.42% SQM-B 67,923 ▼ 1.70% COPEC 6,009 ▼ 0.18% BSANTANDER 78.50 ▲ 1.29% FALABELLA 5,897 ▲ 0.79% ENELAM 85.05 ▲ 1.06% CENCOSUD 2,029 ▼ 1.33% CMPC 1,113 ▲ 1.68% BANCO CHILE 188.11 ▲ 0.59% LATAM AIR 26.06 ▼ 1.29% YPF 74,000 ▼ 2.34% GGAL 8,275 ▲ 5.01% PAMPA 5,170 ▼ 0.67% TXAR 669.00 ▲ 0.68% ALUAR 975.00 ▲ 0.67% TGS 9,530 ▲ 2.36% CEPU 2,350 ▲ 1.51% MIRGOR 17,025 ▼ 1.02% COME 45.80 ▲ 0.84% LOMA NEGRA 3,553 ▲ 1.57% BYMA 311.50 ▲ 0.57% TELECOM ARG 4,175 ▲ 1.34% ECOPETROL 15.56 ▲ 1.07% BANCOLOMBIA 83.47 ▲ 3.13% GRUPO AVAL 5.10 ▲ 1.59% CREDICORP 401.41 ▲ 2.42% SOUTHERN COPPER 176.09 ▲ 0.95% BUENAVENTURA 30.24 ▲ 2.34% MERCADOLIBRE 1,880 ▲ 3.99% NUBANK 13.88 ▲ 1.50% XP 17.00 ▲ 3.56% PAGSEGURO 9.31 ▲ 3.39% STONE 11.24 ▲ 2.55% GLOBANT 30.04 ▼ 3.99% TECNOGLASS 44.31 ▲ 2.70% GAP AIRPORT 237.28 ▲ 1.20% ASUR 287.73 ▲ 1.45% OMA AIRPORT 108.52 ▲ 0.17% AMX ADR 26.24 ▲ 1.55% FEMSA ADR 127.98 ▲ 0.77% CEMEX ADR 12.54 ▲ 1.33% PETROBRAS ADR 17.17 ▲ 0.82% VALE ADR 14.54 ▲ 2.22% ITAU ADR 8.62 ▲ 4.11% SANTANDER BR 5.41 ▲ 5.16% AMBEV ADR 3.09 ▲ 1.48% CSN 1.03 ▲ 7.36% GERDAU 4.51 ▲ 2.15% LATAM ADR 56.92 ▼ 0.21% BTC 63,840 ▲ 1.02% ETH 1,788 ▲ 2.49% SOL 77.61 ▼ 0.56% XRP 1.10 ▲ 0.64% BNB 576.07 ▲ 1.34% ADA 0.17 ▲ 0.11% DOGE 0.07 ▲ 1.29% AVAX 6.74 ▲ 0.85% LINK 7.91 ▲ 2.38% DOT 0.87 ▲ 5.93% LTC 44.57 ▲ 1.84% BCH 246.72 ▲ 3.76% TRX 0.33 ▼ 0.62% XLM 0.19 ▲ 2.02% HBAR 0.07 — 0.00% NEAR 1.89 ▼ 1.33% ATOM 1.58 ▲ 1.95% AAVE 95.06 ▲ 4.17% SELIC 14.25% EMBRAER 85.02 ▲ 1.38% EMBRAER ADR 66.54 ▲ 1.53% JBS 11.93 ▲ 1.66% JBS BDR 60.80 ▲ 1.25% MBRF3 15.67 ▲ 1.69% MBRFY 3.03 ▲ 1.00% INTER 5.86 ▲ 2.54% EGX 52,312 ▲ 0.54% USD/ZAR 16.32 ▲ 0.06% USD/NGN 1,376 ▲ 0.08% NIKKEI 68,558 ▲ 1.20% CSI300 4,781 ▼ 1.96% HSI 24,175 ▲ 0.60% NIFTY 24,207 ▲ 1.02% KOSPI 7,476 ▲ 2.52% JCI 5,924 ▲ 0.20% USD/JPY 161.64 ▼ 0.44% USD/CNY 6.7642 ▼ 0.40% DAX 25,067 ▼ 0.20% CAC 8,339 ▲ 0.15% FTSE 10,497 ▲ 0.24% MIB 52,614 ▲ 0.44% IBEX 19,385 ▲ 0.32% STOXX 641.10 ▲ 0.04% EUR/USD 1.1421 ▼ 0.11% GBP/USD 1.3400 ▼ 0.03% SPX 7,566 ▲ 0.30% DJI 52,630 ▲ 0.27% NDX 29,823 ▲ 0.32% RUT 2,982 ▼ 0.37% TSX 35,244 ▲ 0.12% VIX 15.36 ▼ 3.03% USD/CAD 1.4145 ▼ 0.15% US10Y 4.5650 ▲ 0.57%
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Opinion: The Curmudgeon on Spying

By · September 10, 2013 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – The Brazilian press has lately been replete with references to the leaked documents showing that NSA has been spying on Brazil, its leaders and its oil company. All this has potentially imperiled President Dilma’s visit in October to the White House, formerly “impending” but now merely “pending”. The Curmudgeon will make a few points.

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The first point the Curmudgeon will make is “Why is anyone surprised?” The U.S. has long had the most sophisticated surveillance systems in the world, spread around (and above) the globe. These systems were not designed to be museum pieces; they were designed to further American foreign policy. The idea that countries only spy on their “enemies”, not their “friends”, is simply naïve.

The second point the Curmudgeon will make is “You should be proud!” That’s not meant cynically. All countries prefer spying on important countries than on less important countries. Brazil has increased in world importance during the past twenty years because of its progress; now it’s “a player” – hence it’s more “spyable”.

The third point is about terrorism. Global surveillance began in earnest after 9/11 because the U.S. was attacked. Brazil has a city — Foz do Iguaçu — which has long been known to be an active money laundering center, and is often suspected of being a potential source of funding for Al Qaeda. This is not to say that Brazilians support Al Qaeda; but money launderers don’t do politics.

The fourth point concerns petroleum, more specifically Petrobras and pre-salt. The deep water fields discovered off Brazil’s coast are immense: early estimates indicate they may be greater than those of the North Sea, Mexico’s offshore, and Venezuela’s Maracaibo. Production in all those regions is now declining, so long range the U.S. will have to look towards other suppliers for its imports.

Brazil is the obvious prime candidate, as it’s “friendly”, not in OPEC, not freezing cold like the Arctic, not horrendous ecologically like Canada’s oil sands and fractured shale, and you don’t have to go through a canal or a pipeline to get Brazilian oil to the Eastern U.S. The pre-salt deepwater finds are crucial to the U.S. future energy use and policy. The Brazilian government has given Petrobras a near-monopoly on pre-salt exploration and production, making it an attractive target.

The fifth point is this. Spying on personal data of Presidents and ministers is not in the U.S. public interest. Spying to benefit U.S. oil companies is not in the U.S. public interest. The U.S. has denied that it does either of those things; however, given the past history of denials from the U.S. about NSA activities, those denials are suspect.

Should Dilma cancel her trip to the USA? Israel and the U.S. spy on each other 24/7 but their leaders still meet, because they have common interests. Brazil and the U.S. have numerous common interests. The point of Presidential visits is to enhance and encourage commonality, not divisions.

Cancellation of Dilma’s trip will not stop the U.S. from spying on Brazil nor will it promote any of Brazil’s other interests, such as a seat on the UN Security Council, or the removal of a visa requirement for tourists. So, the Curmudgeon thinks Dilma should go to DC and talk to Obama about what is possible in the future.

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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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