IBOV 175,739 ▼ 1.20% IPSA 10,928 ▲ 0.16% 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▼ 0.12% USD/MXN17.52▼ 0.05% USD/CLP932.70▼ 0.02% USD/COP3,245▼ 0.56% USD/PEN3.40▼ 0.23% USD/ARS1,482▼ 0.07% USD/UYU40.22▲ 0.96% USD/PYG6,045▲ 1.22% USD/BOB10.35▲ 6.04% USD/DOP58.37▼ 0.19% USD/CRC448.53▲ 1.22% USD/GTQ7.62▲ 2.07% USD/HNL26.73▲ 1.41% USD/NIO36.62▲ 0.63% USD/VES722.19▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 0.70% USD/TTD6.74▼ 0.12% EUR/BRL5.85▲ 0.45% BRENT 86.93 ▲ 4.36% WTI 80.68 ▲ 3.25% IRON ORE 161.91 — — COPPER 6.40 ▲ 2.62% GOLD 4,026 ▲ 0.72% SILVER 58.25 ▲ 1.07% SOY 1,187 ▼ 1.23% CORN 457.75 ▲ 4.57% WHEAT 631.00 ▲ 0.64% COFFEE 336.60 ▼ 1.41% SUGAR 14.80 ▲ 0.34% ORANGE JUICE 137.15 ▼ 7.24% COTTON 82.00 ▲ 2.72% COCOA 5,751 ▲ 0.97% BEEF 230.83 ▼ 1.86% 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 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.09 ▼ 0.87% KIMBER 38.20 ▲ 0.34% 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 62,825 ▲ 0.94% ETH 1,796 ▲ 1.27% SOL 75.30 ▲ 0.59% XRP 1.07 ▲ 0.50% BNB 570.51 ▲ 0.68% ADA 0.16 ▲ 0.93% DOGE 0.07 ▲ 0.54% AVAX 6.46 ▲ 0.25% LINK 7.96 ▲ 1.07% DOT 0.84 ▲ 0.65% LTC 43.70 ▲ 0.49% BCH 236.77 ▲ 0.23% TRX 0.32 ▲ 0.22% XLM 0.18 ▼ 0.64% HBAR 0.07 ▼ 0.79% NEAR 1.98 ▲ 3.30% ATOM 1.52 ▼ 0.78% AAVE 96.24 ▲ 1.99% 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 52,215 ▼ 0.75% USD/ZAR16.48▲ 0.05% USD/NGN 1,378 — 0.00% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY162.24▼ 0.12% USD/CNY6.78▼ 0.01% DAX 24,992 ▼ 0.49% CAC 8,305 ▼ 0.72% FTSE 10,456 ▼ 0.41% MIB 52,553 ▼ 0.48% IBEX 19,157 ▼ 0.93% STOXX 637.73 ▼ 0.51% EUR/USD1.14▲ 0.12% GBP/USD1.34▼ 0.09% 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 17.31 ▲ 0.87% USD/CAD1.41▼ 0.39% US10Y 4.6090 ▲ 0.88% IBOV 175,739 ▼ 1.20% IPSA 10,928 ▲ 0.16% 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 ▼ 0.12% USD/MXN 17.52 ▼ 0.05% USD/CLP 932.70 ▼ 0.02% USD/COP 3,245 ▼ 0.56% USD/PEN 3.40 ▼ 0.23% USD/ARS 1,482 ▼ 0.07% USD/UYU 40.22 ▲ 0.96% USD/PYG 6,045 ▼ 0.17% 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 5.85 ▲ 0.45% BRENT 86.93 ▲ 4.36% WTI 80.68 ▲ 3.25% IRON ORE 161.91 — — COPPER 6.40 ▲ 2.62% GOLD 4,026 ▲ 0.72% SILVER 58.25 ▲ 1.07% SOY 1,187 ▼ 1.23% CORN 457.75 ▲ 4.57% WHEAT 631.00 ▲ 0.64% COFFEE 336.60 ▼ 1.41% SUGAR 14.80 ▲ 0.34% ORANGE JUICE 137.15 ▼ 7.24% COTTON 82.00 ▲ 2.72% COCOA 5,751 ▲ 0.97% BEEF 230.83 ▼ 1.86% 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 9.58 ▼ 1.54% AMX 22.86 ▲ 0.70% GAP 407.66 ▼ 1.17% ASUR 278.66 ▼ 2.27% OMA 232.47 ▼ 1.70% KOF 181.26 ▲ 0.62% GRUMA 281.09 ▼ 0.87% KIMBER 38.20 ▲ 0.34% 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 62,825 ▲ 0.94% ETH 1,796 ▲ 1.27% SOL 75.30 ▲ 0.59% XRP 1.07 ▲ 0.50% BNB 570.51 ▲ 0.68% ADA 0.16 ▲ 0.93% DOGE 0.07 ▲ 0.54% AVAX 6.46 ▲ 0.25% LINK 7.96 ▲ 1.07% DOT 0.84 ▲ 0.65% LTC 43.70 ▲ 0.49% BCH 236.77 ▲ 0.23% TRX 0.32 ▲ 0.22% XLM 0.18 ▼ 0.64% HBAR 0.07 ▼ 0.79% NEAR 1.98 ▲ 3.30% ATOM 1.52 ▼ 0.78% AAVE 96.24 ▲ 1.99% 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 52,215 ▼ 0.75% USD/ZAR 16.48 ▲ 0.13% USD/NGN 1,378 — 0.00% NIKKEI 67,744 ▲ 0.74% CSI300 4,797 ▲ 2.15% HSI 24,341 ▲ 0.52% NIFTY 24,052 ▼ 0.66% KOSPI 6,857 ▲ 0.73% JCI 6,040 ▲ 0.03% USD/JPY 162.21 ▼ 0.14% USD/CNY 6.7793 ▲ 0.12% DAX 24,992 ▼ 0.49% CAC 8,305 ▼ 0.72% FTSE 10,456 ▼ 0.41% MIB 52,553 ▼ 0.48% IBEX 19,157 ▼ 0.93% STOXX 637.73 ▼ 0.51% EUR/USD 1.1399 ▲ 0.11% GBP/USD 1.3377 ▲ 0.21% 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 17.31 ▲ 0.87% USD/CAD 1.4096 ▼ 0.40% US10Y 4.6090 ▲ 0.88%
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Op-Ed Guest Opinions

“The Man on Horseback”: a Post-Pandemic Prophecy? (Opinion)

By · June 2, 2020 · 3 min read

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RIBEIRÃO PRETO, BRAZIL – (Opinion) On Sunday, May 31st, saw Brazil’s President Bolsonaro engage in his weekly attempt to sabotage science, first by overcoptering a gathering in front of the Planalto Palace, and, after deplaning, shaking hands and chatting (maskless, of course) with his constant claque of sycophants.

What happened on Sunday, however, was different, because Bolsonaro added yet another embellishment to his putative persona as the defender of the truly righteous – he mounted a police horse, and led a cavalcade around the grounds, waving to those behind the temporary barriers.

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Bolsonaro’s equine tactic is not just horsing around; it is not a mere hobbyhorse: rather, it is a purposeful action, taken with malice aforethought.

Yesterday, however, was different, because yesterday, Bolsonaro added yet another embellishment to his putative persona as the defender of the truly righteous – he mounted a police horse, and led a cavalcade around the grounds, waving to those behind the temporary barriers.
Jair Bolsonaro added yet another embellishment to his putative persona as the defender of the truly righteous – he mounted a police horse, and led a cavalcade around the grounds, waving to those behind the temporary barriers. (Photo internet reproduction)
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One definition of “the man on horseback” is “a military leader who presents himself as the savior of the country during a period of crisis and either assumes or threatens to assume dictatorial powers.

The origin of the phrase was an eponymous 1943 novel by an otherwise little-noted French writer, Pierre Drieu de Rochelle:  “L’homme à cheval”. It is set in 19th Century Bolivia and tells the story of a dictator who tries (but fails) to create an empire.

Brazil itself has a tradition of horseback warriors becoming President. Its first two Presidents after the Proclamation of the Republic in 1889 – Deodoro Fonseca and Floriano Peixoto – were Marechals, the highest rank in Imperial Brazil’s military. Almost all the statues commemorating their rule show them astride horses, in various equestrian poses.

Brazil’s final President during the military dictatorship was João Figueiredo, known for his love of horses and the cavalry. Before becoming president, he admitted he “preferred the smell of horses to the smell of the people.”

Jair Bolsonaro clearly prefers the smell of the people, whom he claims to represent, to the exclusion of other fundamental republican institutions such as Congress and the Supreme Court. In his challenge to any who do not believe he has absolute power to rule absolutely, he has unfortunately been inspired by Brazil’s 1988 Constitution.

The Constitution’s original framework was a parliamentary form of government, rather than a presidential form, because most members of the constituent assembly feared an overly powerful Executive Branch. Sadly, the final version retained several parliamentary institutions that are absent in presidential systems of government, because they weaken the separation of powers.

Brazil’s longest-serving Supreme Court Justice, Celso de Mello, directed a diatribe at fanatics who “despise freedom and hate democracy”. Recalling George Orwell’s “1984”, he referred to the catchphrase “military intervention” as “Bolsonarist NEWSPEAK for the installation, in Brazil, of a despicable and abject dictatorship.”
Brazil’s longest-serving Supreme Court Justice, Celso de Mello, directed a diatribe at fanatics who “despise freedom and hate democracy”. Recalling George Orwell’s “1984”, he referred to the catchphrase “military intervention” as “Bolsonarist NEWSPEAK for the installation, in Brazil, of a despicable and abject dictatorship.” (Photo internet reproduction)

Foremost among these insidious invasive insertions is the Medida Provisória, or “Provisional Measure”, whereby the President can single-handedly proclaim a law that takes effect immediately, and that remains law until Congress approves or rejects it.

Such a rule-by-ukase provision was contained in Italy’s pre-Mussolini constitution and in Germany’s pre-Hitler Weimar constitution. In both countries, the men on horseback used the constitutional provisions as stirrups to mount and sit astride their steeds, as prime ministers.

Firmly in the saddle, both despots used their positions to aggrandize military power while reining in the legislative and judicial powers, removing any semblance of control over the executive branch.

Returning to this past Sunday, May 31st, it was notably different from prior Sundays, because on that day, Brazil’s longest-serving Supreme Court Justice, Celso de Mello, directed a diatribe at fanatics who “despise freedom and hate democracy”. Recalling George Orwell’s “1984”, he referred to the catchphrase “military intervention” as “Bolsonarist NEWSPEAK for the installation, in Brazil, of a despicable and abject dictatorship.

Justice de Mello has reminded us of history we dare not forget. We must all hope that Brazil’s legislators, its judges, and yes, even its military, have also learned the lesson that a man on horseback is never to be trusted with the reins of power.

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