Fernando Henrique Cardoso
Fernando Henrique Cardoso known by his initials FHC, is a Brazilian sociologist and politician who served as the 34th President of Brazil from January 1, 1995 to December 31, 2002. He was the first Brazilian president to be reelected for a subsequent term. An accomplished scholar noted for research on slavery and political theory, Cardoso has earned many honors including the Prince of Asturias Award for International Cooperation and the Kluge Prize from the US Library of Congress. Cardoso descends from wealthy Portuguese immigrants; some were politicians during the Empire of Brazil. He is of black African descent, through a black great-great-grandmother and a mulatto great-grandmother. Cardoso described himself as "slightly mulatto" and said he has "a foot in the kitchen". Born in Rio de Janeiro, he lived in São Paulo for most of his life. Cardoso is a widower, married to Ruth Vilaça Correia Leite Cardoso, an anthropologist, from 1953 until her death on June 24, 2008. Educated as a sociologist, he was a professor of political science and sociology at the Universidade de São Paulo. and president of the International Sociological Association, from 1982 to 1986.
He is a member of the Institute for Advanced Study, an honorary foreign member of the American Academy of Arts and Sciences and has written several books. He was Associate Director of Studies in the École des Hautes Études en Sciences Sociales in Paris visiting professor at the Collège de France and Paris-Nanterre University, he gave lectures at British and US universities including Cambridge University, Stanford University, Brown University and the University of California, Berkeley. He is fluent in Portuguese, English and Spanish. After his presidency, he was appointed to a five-year term as professor-at-large at Brown University's Watson Institute for International Studies, where he is now on the board of overseers. Cardoso is a founding member of the University of Southern California Center on Public Diplomacy's Advisory Board. In February 2005, he gave the fourth annual Kissinger Lecture on Foreign Policy and International Relations at the Library of Congress, Washington DC on "Dependency and Development in Latin America.
In 2005, Cardoso was selected by the British magazine Prospect as being one of the world's top one hundred living public intellectuals. Cardoso is intellectual, he earned a bachelor's degree in Social Sciences from Universidade de São Paulo in 1952, from where he earned a Master's and a Doctorate in Sociology. His doctoral thesis, under the supervision of Florestan Fernandes, examined the institution of slavery in Southern Brazil, from a Marxist perspective, the dominant approach of Gilberto Freyre to the topic, it has since become a classic on the subject. Cardoso has received the Livre-Docência degree in 1963, the most senior level of academic recognition in Brazil from Universidade de São Paulo. In 1968, he received the title of Cathedratic Professor, holding the chair of Political Science at Universidade de São Paulo; as he continued his academic career abroad in Chile and France after the tightening of Brazilian military dictatorship, Cardoso published several books and papers on state bureaucracy, industrial elites and dependency theory.
His work on dependency would be his most acclaimed contribution to sociology and development studies in the United States. After presiding the International Sociological Association from 1982 to 1986 Cardoso was selected as a Fulbright Program 40th anniversary distinguished fellow and in that capacity was a visiting scholar and lectured at Columbia University on democracy in Brazil. Cardoso gives speeches and classes abroad. In June 2013 he was elected as a member of Academia Brasileira de Letras, he said his election was due to recognition for his academic achievements, rather than his political career. After his return to Brazil, Fernando Henrique engaged with the burgeoning democratic opposition to the régime both as an intellectual and as a political activist, he became Senator from São Paulo for the former Brazilian Democratic Movement in 1982, substituting as a suplent the newly-elected governort of São Paulo, Franco Montoro. In 1985, he ran unsuccessfully for mayor of São Paulo against former President Jânio Quadros.
Ahead in the polls, he let himself be photographed in the mayor's chair before the elections. Some attribute his loss to this episode. Elected to the Senate in 1986 for the Party of the Brazilian Democratic Movement, which MDB became after re-democratization, he joined a group of PMDB parliamentarians who left that party to found the Brazilian Social Democracy Party after previously-held PMDB positions shifted to the right when the party filled with politicians who had collaborated with the dictatorship; as senator, Cardoso took part in the 1987–1988 National Constituent Assembly that drafted and approved Brazil's current Constitution in the wake of the country's re-democratization. In the early stages of the Constituent Assembly's work, Cardoso led the committee that drafted the internal rules of procedure, including the procedural rules governing the drafting of the Constitution itself; these rules of procedure were adopted by the Assembly and published on March 25, 1987. Until 1992, Cardoso served as Leader of the PSDB in the Senate.
From October 1992 to May 1993, he served as Minister of Foreign Affairs under President Itamar Franco. From May 1993 to April 1994, he was Minister of Finance and resigned in April 1994 to launch a presidential campa
Balance of payments
The balance of payments known as balance of international payments and abbreviated B. O. P. or BoP, of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period of time. The balance of payments is a summary of all monetary transactions between a country and rest of the world; these transactions are made by individuals and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country, it is an important issue to be studied in international financial management field, for a few reasons. First, the balance of payments provides detailed information concerning the demand and supply of a country's currency. For example, if Sudan imports more than it exports this means that the quantity supplied of Sudanese pounds by the domestic market is to exceed the quantity demanded in the foreign exchanging market, ceteris paribus. One can thus infer that the Sudanese pound would be under pressure to depreciate against other currencies.
On the other hand, if Sudan exports more than it imports the Sudanese pound would be to appreciate. Second, a country's balance of payments data may signal its potential as a business partner for the rest of the world. If a country is grappling with a major balance of payments difficulty, it may not be able to expand imports from the outside world. Instead, the country may be tempted to impose measures to restrict imports and discourage capital outflows in order to improve the balance of payments situation. On the other hand, a country with a significant balance of payments surplus would be more to expand imports, offering marketing opportunities for foreign enterprises, less to impose foreign exchange restrictions. Third, balance of payments data can be used to evaluate the performance of the country in international economic competition. Suppose a country is experiencing trade deficits year after year; this trade data may signal that the country's domestic industries lack international competitiveness.
To interpret balance of payments data properly, it is necessary to understand how the balance of payments account is constructed. These transactions include payments for the country's exports and imports of goods, financial capital, financial transfers, it is prepared in a single currency the domestic currency for the country concerned. The balance of payments accounts keep systematic records of all the economic transactions of a country with all other countries in the given time period. In the BoP accounts, all the receipts from abroad are recorded as credit and all the payments to abroad are debits. Since the accounts are maintained by double entry bookkeeping, they show the balance of payments accounts are always balanced. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items; when all components of the BoP accounts are included they must sum to zero with no overall surplus or deficit.
For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down currency reserves or by receiving loans from other countries. While the overall BoP accounts will always balance when all types of payments are included, imbalances are possible on individual elements of the BoP, such as the current account, the capital account excluding the central bank's reserve account, or the sum of the two. Imbalances in the latter sum can result in surplus countries accumulating wealth, while deficit nations become indebted; the term "balance of payments" refers to this sum: a country's balance of payments is said to be in surplus by a specific amount if sources of funds exceed uses of funds by that amount. There is said to be a balance of payments deficit. A BoP surplus is accompanied by an accumulation of foreign exchange reserves by the central bank.
Under a fixed exchange rate system, the central bank accommodates those flows by buying up any net inflow of funds into the country or by providing foreign currency funds to the foreign exchange market to match any international outflow of funds, thus preventing the funds flows from affecting the exchange rate between the country's currency and other currencies. The net change per year in the central bank's foreign exchange reserves is sometimes called the balance of payments surplus or deficit. Alternatives to a fixed exchange rate system include a managed float where some changes of exchange rates are allowed, or at the other extreme a purely floating exchange rate. With a pure float the central bank does not intervene at all to protect or devalue its currency, allowing the rate to be set by the market, the central bank's foreign exchange reserves do not change, the balance of payments is always zero; the current account shows the net amount of a country's income if it is in surplus, or spending if it is in deficit.
It is the sum of the balance of factor income and unilateral transfers. The
United States dollar
The United States dollar is the official currency of the United States and its territories per the United States Constitution since 1792. In practice, the dollar is divided into 100 smaller cent units, but is divided into 1000 mills for accounting; the circulating paper money consists of Federal Reserve Notes that are denominated in United States dollars. Since the suspension in 1971 of convertibility of paper U. S. currency into any precious metal, the U. S. dollar is, de facto, fiat money. As it is the most used in international transactions, the U. S. dollar is the world's primary reserve currency. Several countries use it as their official currency, in many others it is the de facto currency. Besides the United States, it is used as the sole currency in two British Overseas Territories in the Caribbean: the British Virgin Islands and Turks and Caicos Islands. A few countries use the Federal Reserve Notes for paper money, while still minting their own coins, or accept U. S. dollar coins. As of June 27, 2018, there are $1.67 trillion in circulation, of which $1.62 trillion is in Federal Reserve notes.
Article I, Section 8 of the U. S. Constitution provides that the Congress has the power "To coin money". Laws implementing this power are codified at 31 U. S. C. § 5112. Section 5112 prescribes the forms; these coins are both designated in Section 5112 as "legal tender" in payment of debts. The Sacagawea dollar is one example of the copper alloy dollar; the pure silver dollar is known as the American Silver Eagle. Section 5112 provides for the minting and issuance of other coins, which have values ranging from one cent to 100 dollars; these other coins are more described in Coins of the United States dollar. The Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"; that provision of the Constitution is made specific by Section 331 of Title 31 of the United States Code. The sums of money reported in the "Statements" are being expressed in U. S. dollars. The U. S. dollar may therefore be described as the unit of account of the United States.
The word "dollar" is one of the words in the first paragraph of Section 9 of Article I of the Constitution. There, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U. S. Congress passed a Coinage Act. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States. Unlike the Spanish milled dollar, the U.
S. dollar is based upon a decimal system of values. In addition to the dollar the coinage act established monetary units of mill or one-thousandth of a dollar, cent or one-hundredth of a dollar, dime or one-tenth of a dollar, eagle or ten dollars, with prescribed weights and composition of gold, silver, or copper for each, it was proposed in the mid-1800s that one hundred dollars be known as a union, but no union coins were struck and only patterns for the $50 half union exist. However, only cents are in everyday use as divisions of the dollar. XX9 per gallon, e.g. $3.599, more written as $3.599⁄10. When issued in circulating form, denominations equal to or less than a dollar are emitted as U. S. coins while denominations equal to or greater than a dollar are emitted as Federal Reserve notes. Both one-dollar coins and notes are produced today, although the note form is more common. In the past, "paper money" was issued in denominations less than a dollar and gold coins were issued for circulation up to the value of $20.
The term eagle was used in the Coinage Act of 1792 for the denomination of ten dollars, subsequently was used in naming gold coins. Paper currency less than one dollar in denomination, known as "fractional currency", was sometimes pejoratively referred to as "shinplasters". In 1854, James Guthrie Secretary of the Treasury, proposed creating $100, $50 and $25 gold coins, which were referred to as a "Union", "Half Union", "Quarter Union", thus implying a denomination of 1 Union = $100. Today, USD notes are made from cotton fiber paper, unlike most common paper, made of wood fiber. U. S. coins are produced by the United States Mint. U. S. dollar banknotes are printed by the Bureau of Engraving and Printing and, since 1914, have been issued by t
The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is in the form of bonds, but it may include notes, so on, its primary goal is to provide long-term funding for public and private expenditures.> The bond market has been dominated by the United States, which accounts for about 44% of the market. As of 2009, the size of the worldwide bond market is estimated at $82.2 trillion, of which the size of the outstanding U. S. bond market debt was $31.2 trillion according to Bank for International Settlements, or alternatively $35.2 trillion as of Q2 2011 according to Securities Industry and Financial Markets Association. The bond market is part of the credit market, with bank loans forming the other main component; the global credit market in aggregate is about 3 times the size of the global equity market. Bank loans are not securities under the Securities and Exchange Act, but bonds are and are therefore more regulated.
Bonds are not secured by collateral, are sold in small denominations of around $1,000 to $10,000. Unlike bank loans, bonds may be held by retail investors. Bonds are more traded than loans, although not as as equity. Nearly all of the average daily trading in the U. S. bond market takes place between broker-dealers and large institutions in a decentralized over-the-counter market. However, a small number of bonds corporate ones, are listed on exchanges. Bond trading prices and volumes are reported on FINRA's Trade Reporting and Compliance Engine, or TRACE. An important part of the bond market is the government bond market, because of its size and liquidity. Government bonds are used to compare other bonds to measure credit risk; because of the inverse relationship between bond valuation and interest rates, the bond market is used to indicate changes in interest rates or the shape of the yield curve, the measure of "cost of funding". The yield on government bonds in low risk countries such as the United States or Germany is thought to indicate a risk-free rate of default.
Other bonds denominated in the same currencies will have higher yields, in large part because other borrowers are more than the U. S. or German Central Governments to default, the losses to investors in the case of default are expected to be higher. The primary way to default is to not pay in full or not pay on time; the Securities Industry and Financial Markets Association classifies the broader bond market into five specific bond markets. Corporate Government and agency Municipal Mortgage-backed, asset-backed, collateralized debt obligations Funding Bond market participants are similar to participants in most financial markets and are either buyers of funds or sellers of funds and both. Participants include: Institutional investors Governments Traders IndividualsBecause of the specificity of individual bond issues, the lack of liquidity in many smaller issues, the majority of outstanding bonds are held by institutions like pension funds and mutual funds. In the United States 10% of the market is held by private individuals.
Amounts outstanding on the global bond market increased by 2% in the twelve months to March 2012 to nearly $100 trillion. Domestic bonds accounted for 70 % of the international bonds for the remainder; the United States was the largest market with 33% of the total followed by Japan. As a proportion of global GDP, the bond market increased to over 140% in 2011 from 119% in 2008 and 80% a decade earlier; the considerable growth means that in March 2012 it was much larger than the global equity market which had a market capitalisation of around $53 trillion. Growth of the market since the start of the economic slowdown was a result of an increase in issuance by governments; the outstanding value of international bonds increased by 2% in 2011 to $30 trillion. The $1.2 trillion issued during the year was down by around a fifth on the previous year's total. The first half of 2012 was off to a strong start with issuance of over $800 billion; the United States was the leading center in terms of value outstanding with 24% of the total followed by the UK 13%.
According to the Securities Industry and Financial Markets Association, as of Q1 2017, the U. S. bond market size is: Note that the total federal government debts recognized by SIFMA are less than the total bills and bonds issued by the U. S. Treasury Department, of some $19.8 trillion at the time. This figure is to have excluded the inter-governmental debts such as those held by the Federal Reserve and the Social Security Trust Fund. For market participants who own a bond, collect the coupon and hold it to maturity, market volatility is irrelevant, but participants who buy and sell bonds before maturity are exposed to many risks, most changes in interest rates. When interest rates increase, the value of existing bonds falls, since new issues pay a higher yield; when interest rates decrease, the value of existing bonds rises, since new issues pay a lower yield. This is the fundamental concept of bond market volatility—changes in bond prices are inverse to changes in interest rates. Fluctuating interest rates are part of a country's monetary policy and bond market volatility is a response to expected monetary policy and economic changes.
Economists' views of economic indicators versus actual released data c
In economics, hyperinflation is high and accelerating inflation. It erodes the real value of the local currency, as the prices of all goods increase; this causes people to minimize their holdings in that currency as they switch to more stable foreign currencies the US Dollar. Prices remain stable in terms of other stable currencies. Unlike low inflation, where the process of rising prices is protracted and not noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, in the supply of money. However, the general price level rises more than the money supply as people try ridding themselves of the devaluing currency as as possible; as this happens, the real stock of money decreases considerably. Hyperinflation is associated with some stress to the government budget, such as wars or their aftermath, sociopolitical upheavals, a collapse in aggregate supply or one in export prices, or other crises that make it difficult for the government to collect tax revenue.
A sharp decrease in real tax revenue coupled with a strong need to maintain government spending, together with an inability or unwillingness to borrow, can lead a country into hyperinflation. In 1956, Phillip Cagan wrote The Monetary Dynamics of Hyperinflation, the book regarded as the first serious study of hyperinflation and its effects. In his book, Cagan defined a hyperinflationary episode as starting in the month that the monthly inflation rate exceeds 50%, as ending when the monthly inflation rate drops below 50% and stays that way for at least a year. Economists follow Cagan’s description that hyperinflation occurs when the monthly inflation rate exceeds 50%; the International Accounting Standards Board has issued guidance on accounting rules in a hyperinflationary environment. It does not establish an absolute rule on. Instead, it lists factors that indicate the existence of hyperinflation: The general population prefers to keep its wealth in non-monetary assets or in a stable foreign currency.
Amounts of local currency held are invested to maintain purchasing power The general population regards monetary amounts not in terms of the local currency but in terms of a stable foreign currency. Prices may be quoted in that currency. While there can be a number of causes of high inflation, most hyperinflations have been caused by government budget deficits financed by money creation. Peter Bernholz analysed 29 hyperinflations and concludes that at least 25 of them have been caused in this way. A necessary condition for hyperinflation is the use instead of gold or silver coins. Most hyperinflations in history, with some exceptions, such as the French hyperinflation of 1789-1796, occurred after the use of fiat currency became widespread in the late 19th century; the French hyperinflation took place after the introduction of a non-convertible paper currency, the assignats. Hyperinflation occurs when there is a continuing rapid increase in the amount of money, not supported by a corresponding growth in the output of goods and services.
The increases in price that result from the rapid money creation creates a vicious circle, requiring growing amounts of new money creation to fund government deficits. Hence both monetary inflation and price inflation proceed at a rapid pace; such increasing prices cause widespread unwillingness of the local population to hold the local currency as it loses its buying power. Instead they spend any money they receive, which increases the velocity of money flow; this means. The real stock of money, M/P, decreases. Here M refers to P to the price level; this results in an imbalance between the demand for the money, causing rapid inflation. High inflation rates can result in a loss of confidence in the currency, similar to a bank run; the excessive money supply growth results from the government being either unable or unwilling to finance the government budget through taxation or borrowing, instead it finances the government budget deficit through the printing of money. Governments have sometimes resorted to excessively loose monetary policy, as it allows a government to devalue its debts and reduce a tax increase.
Inflation is a regressive tax on the users of money, but less overt than levied taxes and is therefore harder to understand by ordinary citizens. Inflation can obscure quantitative assessments of the true cost of living, as published price indices only look at data in retrospect, so may increase only months later. Monetary inflation can become hyperinflation if monetary authorities fail to fund increasing government expenses from taxes, government debt, cost cutting, or by other means, because either during the time between recording or levying taxable transactions and collecting the taxes due, the value of the taxes collected falls in real value to a small fraction of the original taxes rece
A currency, in the most specific sense is money in any form when in use or circulation as a medium of exchange circulating banknotes and coins. A more general definition is that a currency is a system of money in common use for people in a nation. Under this definition, US dollars, pounds sterling, Australian dollars, European euros, Russian rubles and Indian Rupees are examples of currency; these various currencies are recognized as stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, each type has limited boundaries of acceptance. Other definitions of the term "currency" are discussed in their respective synonymous articles banknote and money; the latter definition, pertaining to the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the currency's value.
Some currencies are legal tender in certain political jurisdictions. Others are traded for their economic value. Digital currency has arisen with the popularity of the Internet. Money was a form of receipt, representing grain stored in temple granaries in Sumer in ancient Mesopotamia and in Ancient Egypt. In this first stage of currency, metals were used as symbols to represent value stored in the form of commodities; this formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place, safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. A trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the northwest to Elam and Bahrain in the southeast.
It is not known what was used as a currency for these exchanges, but it is thought that ox-hide shaped ingots of copper, produced in Cyprus, may have functioned as a currency. It is thought that the increase in piracy and raiding associated with the Bronze Age collapse produced by the Peoples of the Sea, brought the trading system of oxhide ingots to an end, it was only the recovery of Phoenician trade in the 10th and 9th centuries BC that led to a return to prosperity, the appearance of real coinage first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians. In Africa, many forms of value store have been used, including beads, ivory, various forms of weapons, the manilla currency, ochre and other earth oxides; the manilla rings of West Africa were one of the currencies used from the 15th century onwards to sell slaves. African currency is still notable for its variety, in many places, various forms of barter still apply; these factors led to the metal itself being the store of value: first silver both silver and gold, at one point bronze.
Now we have other non-precious metals as coins. Metals were mined and stamped into coins; this was to assure the individual accepting the coin that he was getting a certain known weight of precious metal. Coins could be counterfeited, but the existence of standard coins created a new unit of account, which helped lead to banking. Archimedes' principle provided the next link: coins could now be tested for their fine weight of metal, thus the value of a coin could be determined if it had been shaved, debased or otherwise tampered with. Most major economies using coinage had several tiers of coins of different values, made of copper and gold. Gold coins were the most valuable and were used for large purchases, payment of the military and backing of state activities. Units of account were defined as the value of a particular type of gold coin. Silver coins were used for midsized transactions, sometimes defined a unit of account, while coins of copper or silver, or some mixture of them, might be used for everyday transactions.
This system had been used in ancient India since the time of the Mahajanapadas. The exact ratios between the values of the three metals varied between different eras and places. However, the rarity of gold made it more valuable than silver, silver was worth more than copper. In premodern China, the need for credit and for a medium of exchange, less physically cumbersome than large numbers of copper coins led to the introduction of paper money, i.e. banknotes. Their introduction was a gradual process which lasted from the late Tang dynasty into the Song dynasty, it began as a means for merchants to exchange heavy coinage for receipts of deposit issued as promissory notes by wholesalers' shops. These notes were valid for temporary use in a small regional territory. In the 10th century, the Song dynasty government began to circulate these notes amongst the traders in its monopolized salt industry; the Song government granted several shops the right to issue banknotes, in the early 12th century the government took over these shops to produce state-issued currency.
Yet the banknotes issued w
Armínio Fraga Neto is a Brazilian economist, president of the Central Bank of Brazil from 1999 to 2002. He is a former associate of George Soros and his Quantum Fund. Since 2001 he has been a member of the influential Washington-based financial advisory body, the Group of Thirty. Fraga received his PhD in economics from Princeton University in 1985. In 2003, he founded the Rio de Janeiro based Gávea Investimentos. Fraga has been called the Alan Greenspan of Latin America for his skillful handling of Brazilian monetary policy during his tenure as CBB president. Fraga worked for both Fernando Henrique Cardoso governments. In 2009, Fraga served on the High Level Commission on the Modernization of World Bank Group Governance, which – under the leadership of Ernesto Zedillo – conducted an external review of the World Bank Group's governance. In October 2010, Gávea Investimentos was acquired by Highbridge Capital Management, a subsidiary of J. P. Morgan Asset Management. China Investment Corporation, Member of the International Advisory Council Council on Foreign Relations, Member Group of Thirty, Member Columbia Global Center Rio de Janeiro, Member of the Advisory Board Princeton University, Member of the Board of Trustees Publications at the National Bureau of Economic Research Arminio Fraga on Charlie Rose Works by or about Arminio Fraga in libraries "Arminio Fraga collected news and commentary".
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