IBOV 176,670.20 ▲ 0.76% IPSA 10,838.27 ▼ 1.15% IPC MEX 67,183.26 ▲ 1.20% MERVAL 3,251,227 ▼ 1.64% COLCAP 2,275.16 ▼ 0.34% BVL PERÚ 57,237.60 — — USD/BRL5.12▲ 0.01% USD/MXN17.43▼ 0.12% USD/CLP931.86▼ 0.85% USD/COP3,194▼ 0.71% USD/PEN3.40▼ 0.02% USD/ARS1,500▲ 0.17% USD/UYU40.20▲ 1.42% USD/PYG6,020▲ 1.46% USD/BOB11.30▲ 3.36% USD/DOP57.82▲ 0.47% USD/CRC449.99▲ 1.60% USD/GTQ7.62▲ 2.22% USD/HNL26.76▲ 1.54% USD/NIO36.62▲ 0.69% USD/VES740.95▼ 0.05% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.19▲ 0.07% USD/TTD6.75▲ 1.25% EUR/BRL5.83▲ 0.79% BRENT 83.79 ▼ 5.17% WTI 78.86 ▼ 4.54% IRON ORE 161.91 — — COPPER 6.34 ▼ 0.02% GOLD 4,030 ▼ 1.09% SILVER 57.37 ▼ 1.88% SOY 1,219 ▲ 0.87% CORN 480.75 ▲ 6.42% WHEAT 661.75 ▲ 0.27% COFFEE 340.50 ▲ 4.91% SUGAR 14.56 ▼ 0.14% ORANGE JUICE 136.30 ▼ 3.64% COTTON 81.08 ▲ 2.19% COCOA 5,206 ▲ 2.08% BEEF 221.78 ▼ 1.53% CATTLE 336.85 ▼ 0.41% LITHIUM 66.89 ▼ 2.54% PETR4 41.17 ▲ 0.39% VALE3 75.57 ▼ 0.16% ITUB4 42.86 ▲ 0.40% BBDC4 18.81 ▲ 0.53% ABEV3 16.23 ▲ 2.33% BBAS3 20.76 ▲ 1.27% B3SA3 16.09 ▲ 2.35% WEGE3 46.53 ▲ 0.28% PRIO3 56.66 ▲ 1.71% SUZB3 42.71 ▲ 2.01% RENT3 38.25 ▲ 1.41% AZZA3 17.38 ▲ 1.58% CSAN3 4.01 ▲ 1.52% RAIZ4 0.27 ▲ 3.85% PCAR3 2.80 ▲ 2.19% GMAT3 3.94 ▲ 2.87% PSSA3 55.03 ▲ 1.36% CVCB3 1.33 ▼ 2.21% POSI3 3.60 ▲ 2.27% SLCE3 13.23 ▼ 1.12% NATU3 8.47 ▼ 0.24% BRKM5 6.03 ▼ 0.82% RANI3 8.14 ▲ 2.65% CSNA3 5.63 ▼ 1.40% CMIN3 5.93 ▲ 2.24% USIM5 8.63 ▲ 0.23% GGBR4 25.13 ▲ 2.66% ENEV3 25.85 ▲ 1.49% CPFE3 45.85 ▲ 2.46% CMIG4 11.22 ▲ 0.45% EQTL3 39.14 ▲ 0.88% LREN3 13.99 ▲ 1.89% VIVT3 33.88 ▼ 5.77% RAIL3 14.04 ▲ 1.74% KLABIN 18.06 ▲ 2.15% RAIA DROGASIL 18.22 ▲ 0.28% RDOR3 34.48 ▲ 2.62% HAPV3 10.66 ▲ 4.61% FLRY3 17.00 ▲ 2.84% SMTO3 14.29 ▼ 2.59% UGPA3 32.38 ▲ 0.90% VBBR3 35.08 ▲ 1.68% BBSE3 41.05 ▲ 1.26% BPAC11 56.15 ▲ 1.08% CURY3 30.41 ▲ 0.07% AERI3 2.09 ▲ 1.95% VIVARA 22.55 ▲ 2.45% COMPASS 25.28 ▼ 0.08% VAMOS 3.35 ▲ 5.68% SANB11 27.58 ▲ 0.80% ASAI3 8.31 ▲ 2.47% SBSP3 28.69 ▼ 0.62% WALMEX 48.95 ▲ 1.14% GMEXICO 209.35 ▼ 0.07% FEMSA 223.01 ▼ 3.46% CEMEX 21.01 ▼ 1.68% GFNORTE 199.74 ▲ 1.69% BIMBO 60.96 ▲ 3.13% TELEVISA 9.95 ▲ 0.71% AMX 22.58 ▲ 0.53% GAP 381.23 ▲ 1.49% ASUR 270.79 ▲ 0.83% OMA 235.80 ▲ 3.09% KOF 187.98 ▼ 0.90% GRUMA 268.39 ▼ 0.05% KIMBER 40.77 ▲ 2.18% SQM-B 62,075 ▼ 3.98% COPEC 6,317 ▲ 1.09% BSANTANDER 79.40 ▼ 1.70% FALABELLA 6,191 ▲ 0.58% ENELAM 85.80 ▼ 0.10% CENCOSUD 1,893 ▼ 1.14% CMPC 1,038 ▼ 0.14% BANCO CHILE 191.10 ▼ 1.12% LATAM AIR 24.75 ▲ 0.61% YPF 79,600 ▼ 2.00% GGAL 7,805 ▼ 1.95% PAMPA 5,405 ▼ 1.28% TXAR 668.50 ▼ 0.82% ALUAR 991.00 ▲ 0.66% TGS 9,470 ▼ 2.47% CEPU 2,318 ▼ 2.73% MIRGOR 16,600 ▼ 1.34% COME 42.30 ▼ 0.38% LOMA NEGRA 3,613 ▼ 2.56% BYMA 302.50 ▼ 0.08% TELECOM ARG 4,385 ▼ 2.34% ECOPETROL 15.76 ▼ 0.25% BANCOLOMBIA 89.13 ▲ 1.36% GRUPO AVAL 4.93 ▲ 2.28% CREDICORP 389.38 ▼ 0.41% SOUTHERN COPPER 178.26 ▼ 0.59% BUENAVENTURA 30.33 ▼ 4.38% MERCADOLIBRE 1,868 ▲ 2.65% NUBANK 14.66 ▲ 0.86% XP 16.92 ▲ 1.06% PAGSEGURO 9.58 ▲ 2.08% STONE 11.10 ▲ 1.93% GLOBANT 35.49 ▲ 8.73% TECNOGLASS 46.75 ▲ 3.02% GAP AIRPORT 218.25 ▲ 0.91% ASUR 270.79 ▲ 0.83% OMA AIRPORT 108.06 ▲ 3.11% AMX ADR 25.83 ▲ 0.51% FEMSA ADR 128.54 ▼ 2.73% CEMEX ADR 12.02 ▼ 1.52% PETROBRAS ADR 18.11 ▲ 0.58% VALE ADR 14.72 ▼ 0.44% ITAU ADR 8.37 ▼ 0.06% SANTANDER BR 5.51 ▲ 1.19% AMBEV ADR 3.15 ▲ 2.61% CSN 1.11 ▼ 1.34% GERDAU 4.94 ▲ 2.17% LATAM ADR 53.02 ▲ 1.36% BTC 63,619 ▼ 0.17% ETH 1,907 ▲ 0.84% SOL 73.79 ▼ 0.47% XRP 1.06 ▼ 0.84% BNB 568.53 ▲ 0.49% ADA 0.16 ▲ 1.91% DOGE 0.07 ▲ 0.21% AVAX 6.51 ▲ 1.78% LINK 8.32 ▼ 0.46% DOT 0.76 ▲ 0.08% LTC 46.27 ▲ 0.59% BCH 212.66 ▲ 0.44% TRX 0.32 ▼ 0.19% XLM 0.17 ▼ 0.19% HBAR 0.07 ▼ 0.20% NEAR 1.64 ▼ 2.76% ATOM 1.30 ▼ 0.40% AAVE 100.04 ▲ 2.24% SELIC 14.25% EMBRAER 87.77 ▲ 1.00% EMBRAER ADR 68.68 ▲ 1.01% JBS 13.86 ▲ 2.25% JBS BDR 70.73 ▲ 2.17% MBRF3 16.54 ▲ 4.09% MBRFY 3.16 ▲ 10.49% INTER 5.61 ▲ 0.90% EGX 53,730 ▲ 0.18% USD/ZAR16.68▼ 0.51% USD/NGN1,363▼ 0.09% NIKKEI 62,365 ▼ 3.95% CSI300 4,570 ▼ 2.83% HSI 25,311 ▲ 0.41% NIFTY 23,985 ▼ 0.04% KOSPI 6,024 ▼ 10.84% JCI 6,131 ▼ 0.89% USD/JPY163.79▲ 0.02% USD/CNY6.76▼ 0.15% DAX 25,464 ▲ 0.41% CAC 8,459 ▲ 0.63% FTSE 10,871 ▲ 0.83% MIB 51,698 ▼ 0.69% IBEX 19,727 ▼ 0.07% STOXX 646.89 ▲ 0.35% EUR/USD1.14▲ 0.23% GBP/USD 1.3292 — 0.00% SPX 7,435 ▲ 0.29% DJI 52,794 ▲ 1.12% NDX 27,819 ▼ 0.78% RUT 2,949 ▲ 0.03% TSX 35,697 ▲ 0.36% VIX 18.33 ▼ 1.82% USD/CAD1.41▼ 0.16% US10Y 4.6000 ▼ 0.88% IBOV 176,670.20 ▲ 0.76% IPSA 10,838.27 ▼ 1.15% IPC MEX 67,183.26 ▲ 1.20% MERVAL 3,251,227 ▼ 1.64% COLCAP 2,275.16 ▼ 0.34% BVL PERÚ 57,237.60 — — USD/BRL 5.12 ▲ 0.01% USD/MXN 17.43 ▼ 0.15% USD/CLP 931.86 ▼ 0.85% USD/COP 3,194 ▼ 0.71% USD/PEN 3.40 ▼ 0.02% USD/ARS 1,500 ▲ 0.17% USD/UYU 40.20 ▲ 1.42% USD/PYG 6,020 ▲ 1.46% USD/BOB 11.30 ▲ 3.36% USD/DOP 57.82 ▲ 0.47% USD/CRC 449.99 ▲ 1.60% USD/GTQ 7.62 ▲ 2.22% USD/HNL 26.76 ▲ 1.54% USD/NIO 36.62 ▲ 0.69% USD/VES 740.95 ▼ 0.05% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.19 ▲ 0.07% USD/TTD 6.75 ▲ 1.25% EUR/BRL 5.83 ▲ 0.79% BRENT 83.79 ▼ 5.17% WTI 78.86 ▼ 4.54% IRON ORE 161.91 — — COPPER 6.34 ▼ 0.02% GOLD 4,030 ▼ 1.09% SILVER 57.37 ▼ 1.88% SOY 1,219 ▲ 0.87% CORN 480.75 ▲ 6.42% WHEAT 661.75 ▲ 0.27% COFFEE 340.50 ▲ 4.91% SUGAR 14.56 ▼ 0.14% ORANGE JUICE 136.30 ▼ 3.64% COTTON 81.08 ▲ 2.19% COCOA 5,206 ▲ 2.08% BEEF 221.78 ▼ 1.53% CATTLE 336.85 ▼ 0.41% LITHIUM 66.89 ▼ 2.54% PETR4 41.17 ▲ 0.39% VALE3 75.57 ▼ 0.16% ITUB4 42.86 ▲ 0.40% BBDC4 18.81 ▲ 0.53% ABEV3 16.23 ▲ 2.33% BBAS3 20.76 ▲ 1.27% B3SA3 16.09 ▲ 2.35% WEGE3 46.53 ▲ 0.28% PRIO3 56.66 ▲ 1.71% SUZB3 42.71 ▲ 2.01% RENT3 38.25 ▲ 1.41% AZZA3 17.38 ▲ 1.58% CSAN3 4.01 ▲ 1.52% RAIZ4 0.27 ▲ 3.85% PCAR3 2.80 ▲ 2.19% GMAT3 3.94 ▲ 2.87% PSSA3 55.03 ▲ 1.36% CVCB3 1.33 ▼ 2.21% POSI3 3.60 ▲ 2.27% SLCE3 13.23 ▼ 1.12% NATU3 8.47 ▼ 0.24% BRKM5 6.03 ▼ 0.82% RANI3 8.14 ▲ 2.65% CSNA3 5.63 ▼ 1.40% CMIN3 5.93 ▲ 2.24% USIM5 8.63 ▲ 0.23% GGBR4 25.13 ▲ 2.66% ENEV3 25.85 ▲ 1.49% CPFE3 45.85 ▲ 2.46% CMIG4 11.22 ▲ 0.45% EQTL3 39.14 ▲ 0.88% LREN3 13.99 ▲ 1.89% VIVT3 33.88 ▼ 5.77% RAIL3 14.04 ▲ 1.74% KLABIN 18.06 ▲ 2.15% RAIA DROGASIL 18.22 ▲ 0.28% RDOR3 34.48 ▲ 2.62% HAPV3 10.66 ▲ 4.61% FLRY3 17.00 ▲ 2.84% SMTO3 14.29 ▼ 2.59% UGPA3 32.38 ▲ 0.90% VBBR3 35.08 ▲ 1.68% BBSE3 41.05 ▲ 1.26% BPAC11 56.15 ▲ 1.08% CURY3 30.41 ▲ 0.07% AERI3 2.09 ▲ 1.95% VIVARA 22.55 ▲ 2.45% COMPASS 25.28 ▼ 0.08% VAMOS 3.35 ▲ 5.68% SANB11 27.58 ▲ 0.80% ASAI3 8.31 ▲ 2.47% SBSP3 28.69 ▼ 0.62% WALMEX 48.95 ▲ 1.14% GMEXICO 209.35 ▼ 0.07% FEMSA 223.01 ▼ 3.46% CEMEX 21.01 ▼ 1.68% GFNORTE 199.74 ▲ 1.69% BIMBO 60.96 ▲ 3.13% TELEVISA 9.95 ▲ 0.71% AMX 22.58 ▲ 0.53% GAP 381.23 ▲ 1.49% ASUR 270.79 ▲ 0.83% OMA 235.80 ▲ 3.09% KOF 187.98 ▼ 0.90% GRUMA 268.39 ▼ 0.05% KIMBER 40.77 ▲ 2.18% SQM-B 62,075 ▼ 3.98% COPEC 6,317 ▲ 1.09% BSANTANDER 79.40 ▼ 1.70% FALABELLA 6,191 ▲ 0.58% ENELAM 85.80 ▼ 0.10% CENCOSUD 1,893 ▼ 1.14% CMPC 1,038 ▼ 0.14% BANCO CHILE 191.10 ▼ 1.12% LATAM AIR 24.75 ▲ 0.61% YPF 79,600 ▼ 2.00% GGAL 7,805 ▼ 1.95% PAMPA 5,405 ▼ 1.28% TXAR 668.50 ▼ 0.82% ALUAR 991.00 ▲ 0.66% TGS 9,470 ▼ 2.47% CEPU 2,318 ▼ 2.73% MIRGOR 16,600 ▼ 1.34% COME 42.30 ▼ 0.38% LOMA NEGRA 3,613 ▼ 2.56% BYMA 302.50 ▼ 0.08% TELECOM ARG 4,385 ▼ 2.34% ECOPETROL 15.76 ▼ 0.25% BANCOLOMBIA 89.13 ▲ 1.36% GRUPO AVAL 4.93 ▲ 2.28% CREDICORP 389.38 ▼ 0.41% SOUTHERN COPPER 178.26 ▼ 0.59% BUENAVENTURA 30.33 ▼ 4.38% MERCADOLIBRE 1,868 ▲ 2.65% NUBANK 14.66 ▲ 0.86% XP 16.92 ▲ 1.06% PAGSEGURO 9.58 ▲ 2.08% STONE 11.10 ▲ 1.93% GLOBANT 35.49 ▲ 8.73% TECNOGLASS 46.75 ▲ 3.02% GAP AIRPORT 218.25 ▲ 0.91% ASUR 270.79 ▲ 0.83% OMA AIRPORT 108.06 ▲ 3.11% AMX ADR 25.83 ▲ 0.51% FEMSA ADR 128.54 ▼ 2.73% CEMEX ADR 12.02 ▼ 1.52% PETROBRAS ADR 18.11 ▲ 0.58% VALE ADR 14.72 ▼ 0.44% ITAU ADR 8.37 ▼ 0.06% SANTANDER BR 5.51 ▲ 1.19% AMBEV ADR 3.15 ▲ 2.61% CSN 1.11 ▼ 1.34% GERDAU 4.94 ▲ 2.17% LATAM ADR 53.02 ▲ 1.36% BTC 63,619 ▼ 0.17% ETH 1,907 ▲ 0.84% SOL 73.79 ▼ 0.47% XRP 1.06 ▼ 0.84% BNB 568.53 ▲ 0.49% ADA 0.16 ▲ 1.91% DOGE 0.07 ▲ 0.21% AVAX 6.51 ▲ 1.78% LINK 8.32 ▼ 0.46% DOT 0.76 ▲ 0.08% LTC 46.27 ▲ 0.59% BCH 212.66 ▲ 0.44% TRX 0.32 ▼ 0.19% XLM 0.17 ▼ 0.19% HBAR 0.07 ▼ 0.20% NEAR 1.64 ▼ 2.76% ATOM 1.30 ▼ 0.40% AAVE 100.04 ▲ 2.24% SELIC 14.25% EMBRAER 87.77 ▲ 1.00% EMBRAER ADR 68.68 ▲ 1.01% JBS 13.86 ▲ 2.25% JBS BDR 70.73 ▲ 2.17% MBRF3 16.54 ▲ 4.09% MBRFY 3.16 ▲ 10.49% INTER 5.61 ▲ 0.90% EGX 53,730 ▲ 0.18% USD/ZAR 16.69 ▼ 0.34% USD/NGN 1,363 ▲ 0.16% NIKKEI 62,365 ▼ 3.95% CSI300 4,570 ▼ 2.83% HSI 25,311 ▲ 0.41% NIFTY 23,985 ▼ 0.04% KOSPI 6,024 ▼ 10.84% JCI 6,131 ▼ 0.89% USD/JPY 163.80 ▲ 0.06% USD/CNY 6.7556 ▲ 0.02% DAX 25,464 ▲ 0.41% CAC 8,459 ▲ 0.63% FTSE 10,871 ▲ 0.83% MIB 51,698 ▼ 0.69% IBEX 19,727 ▼ 0.07% STOXX 646.89 ▲ 0.35% EUR/USD 1.1393 ▲ 0.16% GBP/USD 1.3292 — 0.00% SPX 7,435 ▲ 0.29% DJI 52,794 ▲ 1.12% NDX 27,819 ▼ 0.78% RUT 2,949 ▲ 0.03% TSX 35,697 ▲ 0.36% VIX 18.33 ▼ 1.82% USD/CAD 1.4105 ▼ 0.11% US10Y 4.6000 ▼ 0.88%
since 2009
Tuesday, July 28, 2026

Op-Ed Guest Opinions

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

By · June 2, 2020 · 3 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

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.

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)
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
This story and the bigger picture.
Open the full Ask Rio Times →

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.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.