The Great Guru
Paulo Guedes, after almost 3 years at the head of the Ministry of Economy, has dumped a large series of erroneous statements about the economy, the dollar and the real, and many other controversial statements.
During the last few years he has provided a series of
"What's wrong with energy getting a little more expensive?"
"The worst enemy of the environment is poverty"
"A housewife went to Disney when the dollar was cheap, it was a great party"
"The price of rice is going up because poor people are buying more
"We have to FLEXIBILIZE the VALIDITY date" (of food)
"The Chinese invented the virus and their vaccine is less effective than the American's."
"Fies has paid for university even for the janitor's son
"The middle class overeats and leftovers could feed the poor".
"Only the rich read" - about taxing books
"Public servants are parasites"
"Everyone wants to live 100 years, 120, 130" [...] "There is no investment capacity for the State to keep up" - the growing demand for medical care.
He is currently under investigation by the Ethics Commission for being discovered that he and his daughter, businesswoman Paula Drumond Guedes, own an offshore company called "Dreadnoughts International" in the British Virgin Islands, a tax haven in the Caribbean. During the same period, the Minister deposited in the bank account of Dreadnoughts International at the Crédit Suisse bank in New York, US$ 9.55 million dollars, equivalent today to R$ 51 million reais. In addition to his daughter, his wife also joined in 2015 as a shareholder and director, and in the same year, an injection of shares totaling more than US$ 1.55 million dollars (~ R$ 8.7 million reais) was made.
Owning an offshore company is not illegal. But since he is the Minister of Economy, a person with access to privileged information and decision-making power over policies that can affect financial investments, this constitutes a flagrant conflict of interest. Thus, from 2019 until now, he has directly benefited from the appreciation of the dollar against the real (almost 40%) with a gain of more than R$14.5 million reais.
One of the big signs that Paulo Guedes had/have the intention to profit from the rise of the dollar is that the tax reform proposal made to the National Congress provided for the taxation of profits from foreign capital (even in the case of offshores) and by pressure from Banks, private companies and with the consent of the Ministry of Economy this idea was left aside. Besides this, the presented reform reduces to 6% the capital repatriation tax, which previously ranged between 15% and 27.5%. Therefore, we can see Guedes' participation in various ramifications of Bolsonaro's plan for the functioning of his "power" structure.
EterSec does not tolerate this attitude, those who seek power and control by taking advantage of state bureaucratic failures must fall. Therefore, we are exposing your numbers so that the public can question you directly about your actions and conduct. All power to the people.