Search Results for: brazil

Brazil’s acting president was informant for US intelligence, military

Brazil President Michel Temer

Brazil‘s new interim president, Michel Temer, was an embassy informant for US intelligence, WikiLeaks has revealed. According to the whistleblowing website, Temer communicated with the US embassy in Brazil via telegram, and such content would be classified as “sensitive” and “for official use only.”  Two cables were released, dated January 11, 2006 and June …

Read More »

Rio Olympics overshadowed by corruption, zika and incompetence

Rio Olympics

After seven years of preparation and 12 billion US dollars the Rio Olympics are nearly upon us. We always knew that these Olympics were going to be a little seat of the pants but the story of these Olympic preparations are almost beyond belief. With statistically two of the greatest …

Read More »

Brazil, Uruguay move away from US dollar in trade

USD dollar

Brazil and Uruguay have switched to settling bilateral trade with local currency to stimulate turnover, bypassing the US dollar. Payments in the Brazilian real and Uruguayan peso started on Monday. The agreement was signed on November 2 by the head of Brazilian Central Bank Alexandro Tombini and his Uruguayan counterpart …

Read More »

Deforestation of Amazon jungle increases by nearly a third in one year

Amazon deforestation

Deforestation in the Amazon increased by nearly a third over the past year, according to Brazilian government figures released on Thursday. The data confirms a feared reversal in what had been steady progress over the past decade against destruction of the world’s largest rainforest. Satellite data for the 12 months through …

Read More »

Dilma Rousseff: Brazil votes to impeach president

Brazilian president Dilma Rousseff impeachment

Brazilian president Dilma Rousseff suffered a crushing defeat on Sunday as a hostile and corruption-tainted congress voted to impeach her. In a rowdy session of the lower house presided over by the president’s nemesis, house speaker Eduardo Cunha, voting ended late on Sunday evening with 367 of the 513 deputies backing impeachment …

Read More »

Are the Olympics worth the cost?

Olympic Games waste money

By Filip Karinja Making up the ‘B’ in the new BRICS trading block, Brazil is considered to be one of the world’s leading economies. Yet, in recent times, the South American nation has been plagued by political and economic turmoil. Now that the closing ceremony is over and the athletes have gone to …

Read More »

Rio de Janeiro is out of money ahead of Olympic Games

Rio de Janeiro

The acting governor of Rio de Janeiro state has declared a state of financial disaster so he has more leeway to manage the state’s scarce resources less than two months Brazil hosts the Olympic Games. Francisco Dornelles announced the decision on Friday. It will allow Rio’s state government to change …

Read More »

Brazil: largest protests in decades as unrest hits second week

Brazil protests

Mass protests continued throughout Brazil on Monday, with hundreds of thousands of demonstrators converging in Sao Paulo, Rio de Janeiro, Belo Horizonte, the capital of Brasilia and other cities. Protests initially began last week following a government announcement of an increase in public transportation costs, which brought out students and …

Read More »

Crisis spreads to China, Australia, Brazil, Canada, Sweden

Financial crisis

Earlier today, we posted an excerpt from IceCap Asset Management’s latest letter to investors focusing on the farce that is the Greek bailout #3. Which can be summarized simply by the following table… … and Keith Dicker’s assessment which was that “for Greece, it’s mathematically impossible to repay its debt” and that …

Read More »

NSA hacked Mexican President’s email

Peña Nieto

The NSA has been systematically eavesdropping on the Mexican government for years. It hacked into the president’s public email account and gained deep insight into policymaking and the political system. The news is likely to hurt ties between the US and Mexico. The National Security Agency (NSA) has a division …

Read More »

BRICS countries building new internet to avoid NSA spying

BRICS internet

BRICS countries are close to completing a brand new Internet backbone that would bypass the United States entirely and thereby protect both governments and citizens from NSA spying. In light of revelations that the National Security Agency hacked German Chancellor Angela Merkel’s phone, in addition to recording information about 124 …

Read More »

China, Russia, Norway, Brazil, Taiwan dump US treasuries

US treasuries being dumped

Five large purchasers of US Treasuries – China, Russia, Norway, Brazil, and Taiwan – have changed their minds. They’re dumping Treasuries, each for their own reasons that are now coinciding. And at the fastest rate on record. For the 12-month period ended July, sales of Treasuries by central banks around the world …

Read More »

BRICS nations plan new bank to bypass World Bank, IMF

BRICS countries

The biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund. The leaders of the so-called BRICS nations — Brazil, Russia, India, China and South Africa — are set to approve the establishment of a new …

Read More »

World Cup 2014 photos

Cristiano Ronaldo Portugal World Cup

Brazilians are angry. They are angry with their government for pumping millions of dollars into the funding of an eight-week extravagance. They are angry that money being spent on the World Cup is desperately needed for education, sanitisation, hospitals and the eradication of violence, drugs and weapons from their streets. …

Read More »

BRICS to create alternative to IMF and World Bank

BRICS leaders

The BRICS countries (Brazil, Russia, India, China and South Africa) have made significant progress in setting up structures that would serve as an alternative to the IMF and the World Bank (which are dominated by the U.S. and the EU), according to RBTH. As WSJ reports, the U.S. would lose its veto power on …

Read More »

Latin America stands up to Monsanto

Chile Monsanto

The market with the biggest potential for growth, as far as corporate agriculture is concerned, is putting its foot down and saying no. Chile, Colombia and a growing number of other Latin American countries are taking a stand against Monsanto and its ilk by rejecting advancements to further convert their …

Read More »

Exposed: NSA plays key role in “US assassination program”

Jeremy Scahill and Glen Greenwald

American investigative journalists Jeremy Scahill and Glenn Greenwald say they have teamed up to prepare a report on the National Security Agency’s role in what one of them described as the “US assassination program.” “The connections between war and surveillance are clear. I don’t want to give too much away …

Read More »