President Trump and Brazil’s President Bolsonaro Oval Office Meeting (Video and Transcript)…


Earlier today President Donald Trump and Brazil’s President Jair Bolsonaro held an open media event in the Oval Office prior to their bilateral discussions.  (Video and Transcript Below):

[Transcript] – 12:10 P.M. EDT – PRESIDENT TRUMP: Thank you very much. It’s a great honor to have President Bolsonaro with us from Brazil. He has done a very outstanding job; ran one of the incredible campaigns. Somebody said it, a little bit, reminded people of our campaign, which I’m honored by. But it was a tough, well-fought-out campaign.

And we are going to be discussing, today, Venezuela. We’ll be discussing trade. We’ll be discussing many subjects. And Brazil is a great friend. I think probably because of the relationship that we have, Brazil and the United States have never been closer than they are right now.

PRESIDENT BOLSONARO: (Speaks Portugese.)

Q Mr. President —

INTERPRETER: Excuse me. Translation now.

PRESIDENT BOLSONARO: (As interpreted.) It gives me great pleasure to be here in United States to take part in this visit after decades on end of anti-U.S. Presidents in Brazil. Brazil has indeed made a major shift in 2017. Obviously enough, we do have a great deal to talk about. We do share a lot in common. And we will certainly work to the benefit of our two peoples.

We do have a great deal of shared values. I admire President Donald Trump. And we will certainly work towards the benefit of our two nations. Because, just as President Donald Trump wants to have a great America, I, on my side, also want to have and ensure we have great Brazil.

So yes, increasingly, from now onwards, Brazil will become increasingly engaged with the U.S., and I’m very proud and pleased that that is so.

PRESIDENT TRUMP: Thank you very much. That’s very nice. Thank you.

And I think — before we begin, I think we would like to — you know, Brazil is a great, great soccer power and a great country. And we’re going to present that, and I believe they have one also. But you know all about Brazil being the great soccer power. They have great, great players. I can still remember Pelé and so many others. You’ve had a fantastic history.

So we’re going to exchange jerseys. I see that we got one, and this is the U.S. National Team. And so that’s an honor to give that to you. Thank you very much.

PRESIDENT BOLSONARO: (As interpreted.) I’m a little younger, but I also do remember Pelé.

PRESIDENT TRUMP: Yeah, right. Right.

PRESIDENT BOLSONARO: (As interpreted.) Let me use the opportunity, Mr. President, to hand you a gift, a jersey, as a token of — as an emblematic token of the world’s best-ever soccer player, Edson Arantes do Nascimento —

PRESIDENT TRUMP: Yes.

PRESIDENT BOLSONARO: (As interpreted.) — also known as “Pelé,” who gave us so much joy by playing football and for his talent at football.

Q Mr. President, will you grant Brazil NATO privileges? Will you grant Brazil NATO privileges? Are you —

PRESIDENT TRUMP: Well, we’re looking at it very strongly. We’re very inclined to do that. The relationship that we have right now with Brazil has never been better. I think there was a lot of hostility with other Presidents. There is zero hostility with me. And we were going — we’re going to look at that very, very strongly, in terms of whether it’s NATO or it’s something having to do with alliance. But we have a great alliance with Brazil — better than we’ve ever had before.

Q Mr. President, Brazil is working to offer the United States access to a rocket launch site in Brazil. Americans will be able to go to Brazil without a visa. What would you like President Bolsonaro to get to Brazil — to take to Brazil as a result of this visit?

PRESIDENT TRUMP: Well, we have. We’re working on different military sites and military options. We’re working on visas and going in a much easier fashion. All of that is good. And we have many things that Brazil would like, and I think we’re working on those things.

One of the big elements of the relationship is trade. Brazil makes great product and we make great product. And our trade has been never as good as it should be in the past. And in some cases, it should be far, far more.

So I think our trade with Brazil will go substantially up in both directions, and we look forward to that. And that’s one of the things that Brazil would like to see.

Steve. Steve.

Q Mr. President, you’re going to talk about Venezuela. What do you want to see happen in Venezuela?

PRESIDENT TRUMP: Well, we don’t want to say exactly. I know exactly what I want to happen in Venezuela, but we’re going to be talking about different things. All options are on the table. And it’s a shame what’s happening in Venezuela — the death, and the destruction, and the hunger. Hard to believe one of the wealthiest countries is now one of the poorest and most impoverished countries. So we’ll be talking about that in great length.

Q (Inaudible) Mr. President, Brazil involved on a military action in Venezuela? And also, are you offering Brazil — are you supporting Brazil’s efforts to join the OECD?

PRESIDENT TRUMP: I am supporting their efforts to join, and we are just going to decide — I think I can speak for both countries: All options are on the table. Every option is on the table with respect to Venezuela.

Q And you would like to see Brazil involved on any sort of military option?

PRESIDENT TRUMP: We haven’t even discussed it. We’re going to discuss it today.

Q Mr. President, why are you attacking Senator John McCain seven months after his death?

PRESIDENT TRUMP: I’m very unhappy that he didn’t repeal and replace Obamacare, as you know. He campaigned on repealing and replacing Obamacare for years. And then he got to a vote and he said, “Thumbs down.” And our country would have saved a trillion dollars and we would have had great healthcare.

So he campaigned. He told us, hours before, that he was going to repeal and replace. And then for some reason — I think I understand the reason — he ended up going thumbs up. And, frankly, had we even known that, I think we would have gotten a vote because we could have gotten somebody else. So I think that’s disgraceful. Plus, there are other things.

I was never a fan of John McCain and I never will be.

Thank you very much everybody. Thank you.

Q What do you say to critics who call you authoritarian? What do you say to people who call you both authoritarian?

PRESIDENT TRUMP: Thank you very much.

Q Mr. President, does Secretary Alex Acosta still have your full support?

PRESIDENT TRUMP: He does.

Q Was that a yes, Mr. President?

PRESIDENT TRUMP: He does. He has my full support.

END 12:21 P.M. EDT

Are Bonds Preferable to Stocks in a Crisis?


QUESTION: There are a few people coming out claiming the stock market will crash so buy bonds even though you will lose money. How can people keep calling for a mega-crash so long with constantly being wrong since 2010?

Thank you for your reason

NR

ANSWER: These people are still living in a world that is defined by the event of the Great Depression. Even Germany forces austerity upon Europe because they do not understand the events behind their own hyperinflation and stupidly assume it was merely an increase in the supply of money that caused the event. Nobody seems to be bothered to ask which comes first – the chicken or the egg?

Here is a chart of the stock market with the US Long Bond. Andrew Jackson paid off the national debt in 1835. President Jackson also shut down the Second Bank of the United States on Sept. 10th, 1833. Jackson announced that the government would no longer deposit federal funds in the Second Bank of the United States, which was a quasi-governmental national bank. The stock market peaked in 1835 and began its decline without a central bank. Then during July 1836, Jackson issued the Specie Circular. Under this act, the government would only accept gold or silver in payment for federal land.

Jackson’s Bank War closing down the Bank of the United States was personal because they funded his opposition. By shifting deposits to state banks, Jackson set off a major crisis undermining the entire monetary system. He effectively devalued all the circulating currency in the country with one law – the Specie Circular. Suddenly, there was a run on gold. The Panic of 1837 unfolds as New York banks suspended all withdrawals of gold. Jackson created massive austerity, but he had shut down the national debt as well. This was a very complicated financial crisis with an interesting mix of events combining together.

There were NO federal issues of paper money and the first paper dollar to be issued by the government did not unfold until 1860 to fund the Civil War. Therefore, Jackson effectively canceled all paper money by refusing to accept it and this resulted in a gold panic forcing the banks to suspend all payments. People were rushing to banks to exchange their paper currency for gold and banks could not meet the demand and suspended all demands for gold.

When federal bonds resumed in 1842, they had declined in value as interest rates rose. There was no flight to quality, only to gold given there were no federal bonds. This is when several states moved into default permanently upon their debt. Therefore, the Monetary Crisis Cycle that hit then was felt in the state and local levels – not federal. The Monetary Crisis Cycle that hit in 1931 resulted in widespread sovereign defaults outside the USA.

Each cycle that hits is slightly different characters and reasons. I highly warn against buying any sovereign debt whatsoever. Any federal debt to hold must be short-term no more than 90-day paper. In the case of the Hard Times of 1837-1842, the stock market crashed in terms of gold because all money was effectively canceled. Paper money collapsed as notes lost their legal-tender value. Thus, only gold rose in value as the medium of exchange thanks to Jackson refusing to accept anything but gold.

This time around, bonds are legal tender so that is the money that will decline in value far more than anyone expects. Both the Bank of Japan and the ECB in Europe have wiped out their bonds markets for they have been the primary buyer of government debt which they cannot now resell.

 

President Trump Wins SCOTUS Decision on Detainment and Deportation of Criminal Aliens…


The Supreme Court reversed a prior 9th Circuit Court ruling restricting when illegal aliens could be detained and deported.

The SCOTUS ruling (full pdf below) was in favor the Trump administration, allowing federal officials to detain and deport illegal aliens after they have served their time in the U.S. for other crimes regardless of whether they were picked up immediately or later, after criminal release.

The 9th Circuit Court previously stated ICE would have to detain illegal aliens immediately after release or they would be exempt from later detainment.  SCOTUS eliminated that restriction and affirmed detainment and deportation at any time after criminal release.  The ruling was 5-4 with Justice Alito announcing the majority judgement of the court below:

https://www.scribd.com/embeds/402412192/content?start_page=1&view_mode=&access_key=key-67bVDz8lYWQlIDg6VaMz

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The Stock Market – Up & Away or Crash & Burn?


QUESTION: Mr. Armstrong,

In your blog you talked about a global recession and hard landing. Does this mean the US stock market will rally because funds will flow from the rest of the world to the US stock market? Or will the US stock market succumb to the global recession and go lower too?

This is very confusing for most of us and a very critical time in the markets. I hope you will guides us with your knowledge and experience.

Thank you for all you do!

KC

ANSWER: The key to pushing capital fleeing into the stock market will be the decline in public confidence within the government. Everything is unfolding on schedule. You see turmoil everywhere from Canada to France and Italy. The level of people distrusting government is climbing. Normally, it will take a 45% level of people turning against the government to set off the spark.

So no, there still does not appear to be a major crash of 50-62% as the majority are calling. The market is testing resistance, but here too we do not see this as breaking out and taking off just yet. We are in a choppy consolidation building a higher base that qualifies as a cycle low. We will be ready to take off soon. Just be patient.

 

The Rally Beyond 2015 in the Dow Has Proven We are in a Cycle Inversion


QUESTION: There are many people who are now saying we are headed into a recession. Your model shows we are coming to the end. Yet you have been the only analyst who has been correct. There are bankers warning the stock market will collapse by 50% because it always goes down in a recession. I watched the market rally to new high as you forecast back in 2010 going into 2015. Then you warned the market would invert and continue the rally after 2015. The market rallied into nearly your Pi Target in 2018. You said at the last WEC there would be a correction back to retest the monthly bearish reversal.

You have been correct at every turn. Back in 2014, you posted: “What will not go down when the cycles shift, inverts and rises even further.” It seems that this has been a cycle inversion where the market has just been rising through the upside and downside of your model. My question is this. You still forecast that this is just the staging ground and we are about to see a different pattern altogether. Is this all part of the cycle inversion you have been stating is underway?

NM

ANSWER: Yes. I also wrote in that post: “This is why I have been warning a cycle inversion is coming. We may be in that process now starting from November 19th/20th.” With all the craziness on the horizon economically, the government was the one in trouble, not the private sector. That meant we had to undergo a cycle inversion. That is what is underway. A normal cycle would have seen the market peak in October 2015 and then decline. The fact that the market has continued to rally past 2015 proves this is a cycle inversion. We will be addressing this at the Rome WEC. We are about to make a major play that will be critical to understanding for the future.

Financial Collapse – Brexit Is The EU’s Flu But Italexit Is ItsTerminal Cancer


Published on Mar 16, 2019

SUBSCRIBE 8.4K
The bad news keeps coming out of the EU concerning Italy . Not only is Italy in recession but Germany and France are teetering there as well. Italy’s sovereign debt crisis and its Non Performing Loan fiasco is going to blow the whole house down. I’d hate to think of all the credit default swaps out there … Hmmm could be like all those ‘bad’ MBS’s that brought the whole house down (figuratively speaking)in 2007/8. Italy’s politics is exacerbating the situation. The politicians might want all the ‘benefits’ of being in the Euro BUT if Italian debt crashes and the ECB can’t foot the bill (i.e. Germany), it’s arriva derci, sayonara and bye bye to the Euro and Italy will Italexit!

Devin Nunes Explains His $250 Million Lawsuit Against Twitter…


HPSCI ranking member Devin Nunes appears on Fox News with Sean Hannity to discuss the lawsuit he filed today against Twitter and some users.

President Trump Highlights Tucker Carlson “Russia Hoax” Opening – Here’s The Video…


On the same day that polls show Americans increasingly see through the false premise of the Mueller investigation, and now agree that it’s a ‘witch hunt’, President Trump tweeted out a video segment from Tucker Carlson’s opening monologue. The video is below.  The topic is how the Russia Hoax was pushed on the U.S. electorate:

TheLastRefuge@TheLastRefuge2

Poll: Half of Americans say Trump is victim of a ‘witch hunt’ as trust in Mueller erodes

As the Russia report seems near, a USA TODAY/Suffolk poll finds half of Americans agree Trump is the victim of a ‘witch hunt;’ trust in Mueller erodes

usatoday.com

130 people are talking about this

Embedded video

Donald J. Trump

@realDonaldTrump

26.4K people are talking about this

Preview and Background for President Trump and President Bolsonaro Meeting…


President Jair Bolsonaro and First-Lady Michelle Bolsonaro are staying at the Blair House as guests of President Donald Trump and First-Lady Melania Trump.  They will be meeting together tomorrow.

Tonight at 11:00pm Fox News host Shannon Bream has an exclusive interview with President Bolsonaro from the Blair House.   Additionally, the White House has provided some background details that highlights the importance of the summit.

[White House Briefing] SENIOR ADMINISTRATION OFFICIAL: Hey, good afternoon. So obviously, tomorrow, the Brazilian President Jair Bolsonaro will be meeting with President Trump. Clearly, we have seen, since day one, President Bolsonaro’s election as a real opportunity to fundamentally remake our relationship with Brazil.

This is something that we have been doing since day one, in which, within an hour of President Bolsonaro being — at that time, President-elect Bolsonaro being confirmed as the President-elect, President Trump called him, was on the phone with him. A couple of weeks later, National Security Advisor John Bolton went down to Rio to visit with him. Secretary of State Pompeo led the delegation to his inauguration.

And now this is the first bilateral overseas visit of President Bolsonaro’s presidency. And, in coming to the United States, it’s the first time in history that a Brazilian President has first come to the United States as his bilateral overseas visit. And that’s very meaningful to us, as clearly it is to them.

The U.S.-Brazil relationship has always been one of potential, but yet it always seemed that that potential has never been met. This time, it is different. This is a historic remaking of the U.S.-Brazil relationship, where there’s truly going to be a North-South axis of the two largest economies in the Western Hemisphere and a true partnership of the two largest economies in the Western Hemisphere.

This is historic in all proportions because it’s no longer what the potential of the U.S.-Brazil relationship could be; it’s about what the U.S.-Brazil relationship is, and the performance and the execution of, really, a large bilateral agenda that we have set forth since he was President-elect, since that first conversation, since that first visit by Ambassador Bolton, since the follow-up by Secretary Pompeo.

We were already, from day one, ready to move forward with a big bipartisan agenda. And, in this trip, you will see, as a follow-up, the execution of a lot of what has been discussed and agreed to in a historically short time. Here we are, just three months in, and we’re already way ahead of the curve on this one.

So this is a very exciting opportunity, and not just, obviously, for what it would mean for the United States, the United States economy, for Brazil and its economy, but my understanding — and I haven’t followed up in the last couple hours — but my understanding is, today, the Brazilian stock market was going through the roof, was having a big up-turn.

And so — by the way, forgive me if my news is not as current; I haven’t checked since this morning. But that goes to show the positivity of the markets and the way the markets are receiving, really, this axis of North and South America with its two largest economies. That’s extraordinarily important. It’s important domestically and it’s important for our foreign policy.

Who would have thought — you know, we always joke around that even the friendliest of Brazilian governments was really never that “friendly.” But here we have, now, a government in Brazil that (inaudible) consider an ally. And, as such, we’ll be working together — have been working together on regional issues, like Venezuela, and look forward to working together on international issues, on non-regional issues like Iran, China, North Korea, and others.

So this is a real, historic opportunity where the United States and Brazil are aligned on domestic, regional, and foreign policy priorities. You will see — after the visit tomorrow, we will plan to announce a joint statement that will have a lot of deliverables, some which are currently, frankly, right now being signed and being finalized and being negotiated. And that’s all extraordinarily positive.

We think that we have, really, a historic opportunity to reframe hemispheric relations with this North-South axis. And it’s really centered upon the relationship of President Trump and President Bolsonaro — one that they’ve created from that moment he got elected. Obviously, there’s great synergy there and there’s a great mutual respect. And that personal relationship will stand at the core of this remake of our bilateral and regional relations with — (inaudible) a lot of consequences, as I said, that are positive.

So, with that, I will really just answer questions going forward.

Q Hello, it’s Toby Capion calling from EWTN. What are the remaining disagreements between Brazil and the United States?

SENIOR ADMINISTRATION OFFICIAL: I wouldn’t characterize them as disagreements. I think one of the things that’s really encouraging and it’s been a different side of our bilateral relations when we sit down and have these discussions is, really, we look towards — you know, so there’s been a long history, whether it’s been on trade issues, whether it’s been on regional or other international issues, where there has been differences between — and frankly, disagreements between the United States and Brazil.

Frankly, ever since we sat down on January 1st, and even before, with the government of President Bolsonaro, it was very clear that we sought to move, you know, on all of these issues — domestic, economics, on trade, on regional, and international issues — that when we sat down and said, “Okay, what can work together on?” And then from there, we worked downwards to remove obstacles.

So we’ve actually approached this relationship as now one that’s looking at disagreements and then moving upwards, but what we want to accomplish as partners and then working downwards to get through them. So we have the goals set, and what we’ve been doing is ensuring how to reach those goals, how we overcome any speedbumps along the way.

So I wouldn’t characterize anything as any disagreements, per se; it’s really more a technicality, and then — because there’s a huge will and disposition to move forward on goals, whether it’s on the economic trade front, the regional front, or the broader international front.

Q Hi, it’s Roberta Rampton from Reuters. I’m wondering if you can tell us whether the United States is going to support Brazil’s bid to become a member of the OECD as part of this remaking of the relationship? And secondly, if you can tell us whether U.S. officials or the President are going to ask President Bolsonaro or his officials to sort of pull back or prevent Huawei from building its 5G network in Brazil.

SENIOR ADMINISTRATION OFFICIAL: So the United States, as we’ll be seeing — has seen and has expressed a very positive mindframe and has welcomed the efforts on economic reforms, best practices, regulatory frameworks, and truly a commitment to overcome some of the issues that Brazil has had in the past, in order to gain accession to OECD. We see those efforts and that positive movement in a favorable light, and clearly, we want to help Brazil achieve its goal, and we’ll do everything we can in order to help them achieve their goal.

In regards to Huawei and 5G, in regards to China, look, clearly, the United States — you know, we have discussed our concerns in regards to security issues, in regards to China, in regards to what that will mean for Brazil. They have had a whole host of different meetings here where they heard from our experts on security, intelligence matters, and otherwise, in order to understand the consequences of these networks and how, frankly, dangerous and how it can undermine their security domestically.

So, obviously, as friends and as allies, we have those conversations and we have had them in full confidence, and we expect to be working together on those moving forward.

Q Hi, this is Kyle Mazza from UNF News. Thanks for hosting the call. I wanted to ask if Venezuela would be a subject of discussion in the bilateral meeting with President Bolsonaro. Thanks so much.

SENIOR ADMINISTRATION OFFICIAL: Venezuela will absolutely be a subject of discussion between — clearly, President Bolsonaro and President Trump share a strong support for Venezuelan Interim President Juan Guaidó. Brazil has allowed the United States to pre-position humanitarian aid for Venezuela on Brazil’s northern border. And obviously, we’re very grateful to that.

We also give them credit for working tirelessly to provide humanitarian aid to the Venezuelan people and, frankly, opening their doors. I think there is more than 120,000 Venezuelans who have fled to Brazil to escape Maduro’s (inaudible). So they’re suffering the firsthand consequences on that. They saw the violence at the border on February 23rd, and they’ve been good partners.

There’s also an opportunity here whereby they can be very good interlocutors. The Brazilian military has very good relationships with the Venezuelan military. The Brazilian military can clearly communicate with them in regards to what should be the role of the Venezuelan military in regards to civility; in regards to protecting civilians, not repressing, and not maintaining the usurpation of democracy that Maduro seeks. That could be very positive messaging.

We view the Brazilian military as a very important interlocutor with the Venezuelan military. One also that can express the intentions of the United States (inaudible) with this peaceful constitutional transition. And we look forward to working closely with them as such.

Q Hey, thanks for doing the call. First, just sort of a logistical one. I know it’s on background; we’ve asked that it be on the record. But barring that, can the SAO just identify himself so that we know who it is?

And then, more substantively, I’m wondering if you could talk a little bit about what the discussions have included and whether you’ve reached any agreements on U.S. access to the rocket-launch pad in Brazil, on uranium mining, or on visa-free travel for U.S. citizens in Brazil.

SENIOR ADMINISTRATION OFFICIAL: I’ll take the first part. If you reach out to us, we can identify the necessary SAO components and all of that.

So the President has welcomed, and we’re moving forward in regards to the — as you refer to the Technology Safeguards Agreement, which is what you’re referring to, which we hope — which will allow for U.S. commercial space launches from Brazil and for closer defense cooperation. And so we look forward to that conclusion. And that would be, obviously, a great advance and another great example of this close (inaudible).

Q Hi, this is Doug Palmer with Politico. Thanks for taking the call. I know that some senators have written asking for the administration to press Brazil on wheat market access issues. Can we expect anything on that front tomorrow? And is there any other trade deliverables that you could maybe preview ahead of the meeting?

SENIOR ADMINISTRATION OFFICIAL: Yes, there’s been extensive discussions on agricultural issues. I think you’ll see, tomorrow in the joint statement, some of the deliverables. Brazil has indeed agreed to some of these issues, and we look forward to expanding our relationship on these. And you’ll see it in the joint statement. Obviously, I don’t want to get ahead of the President and won’t reveal those. But there has been great progress.

Q Hi, good afternoon. This is Luigi Sofio for TV Globo, Brazilian TV, and I have two questions. The first is regarding the use of (inaudible). (Inaudible) confirm that it was Congress? And my second question is, what are the concrete steps being taken —

SENIOR ADMINISTRATION OFFICIAL: Can you repeat the first question? Can you repeat the first question before you get to the second one? Can you repeat the first question? I didn’t hear it.

Q Yes, sir. Yes, sir. Can you hear me now?

SENIOR ADMINISTRATION OFFICIAL: Yeah.

Q My first question is regarding the use of the Alcântara base. Does the U.S. need to confirm it by the U.S. Congress? And the second question is: What are the concrete steps being taken by the U.S. government to increase trade cooperation with Brazil?

SENIOR ADMINISTRATION OFFICIAL: So, going to the first question, I think that is in line with what we were previously talking about in regards to the Technology Safeguards Agreement. And that was understanding. I’m not sure, in regards to whether — I don’t believe that it needs to go to Congress. We can get you a follow-up after with that, for sure. But, obviously, that is a big development and it goes back to what I was saying in regards to the U.S. commercial space (inaudible) and the closer defense cooperation. And we think that that’s a great development.

In regards to trade, we had a trade surplus of about $27 billion with Brazil last year. We want to move forward. You know, these are two largest economies in the Western Hemisphere. There’s a lot of things that we do and we share and we produce in common, but there’s also a lot of things from where there’s a comparative advantage.

And clearly, you know, we’ve always kind of looked past each other, and I think we have a unique opportunity here to really create this North-South axis, as I said, not only in regards to these regional and international foreign policy issues, but as regards to trade and moving forward, and deepening our trade relationship, per se.

We’ve also — on the business side, we’ve been discussing other ways. And you’ll see some announcements tomorrow in regards to how to bring our business communities closer, how to bring our private enterprises closer, and also new initiatives in regards to energy cooperation, new initiatives in regards to infrastructure.

So you’ll see tomorrow, really, a full gamut in regards to the economic relationship between the United States and Brazil and, really, just in a short time, in three months, taking a huge step forward — I would say a historic step forward — towards realizing that potential that has always been discussed but that has never seemed to be (inaudible).

Q Hi, this is Jill Colvin from the Associated Press. Thank you very much for doing this call. I wanted to ask you about the relationship between the two leaders. You mentioned President Trump calling very early on. Can you talk us through a little bit about how often they’ve spoken, what their relationship is based on, and how the two of them get along personally? Thank you.

SENIOR ADMINISTRATION OFFICIAL: So, they’ve definitely spoken on — they’ve spoken on a couple of occasions. And it’s been — clearly, President Trump has followed President Bolsonaro’s campaign. Obviously, his name was invoked on many occasions during the campaign, and all of you in the broader media have referred to him as the “Trump of the Tropics.” That obviously has caught the President’s attention.

And, really, I think one of the things that we also have to look at here in regards to this — to the election of President Bolsonaro — is that, in his election, he broke all of what I would say were the historic taboos of winning an election in Latin America. He was unabashedly — and particularly in Brazil — unabashedly pro-American. He ran on the campaign that he wanted to be the best friend to the United States, that he wanted to have this close relationship with President Trump and what that would mean for Brazil, what that would mean for the region and the world. I think that was very important.

He also ran on a very critical campaign in regards to Venezuela, in regards to Cuba, which broke those taboos that he run toward the left in Latin America. And he also was very critical of his concerns in regards to Chinese debt and investment in Brazil and in the region as a whole. So his — that election really broke a lot of those taboos.

In regards to the first, in wanting to be one of the best allies of the United States, if not the best in the Western Hemisphere, it really, obviously, caught the President’s attention. We recognize, again, these are the two largest economies of the Western Hemisphere, and this could create a historic North-South axis. This is something (inaudible) really want to pursue for many reasons. And part of it, and the key underlying it and making it all possible, is this mutual respect that exists between President Trump and President Bolsonaro.

SENIOR ADMINISTRATION OFFICIAL: Yes. So, we’ve got time for one more question. Before we move onto it though, I just want to reiterate attribution is on background as “senior administration official.” We will be working to put a transcript together later today, most likely. So thanks everyone, again, for joining us.

Q Hi. This is Emel Akan from the Epoch Times. Thank you very much for this call. I have a follow-up question on China. China is one of the biggest trading partners of Brazil and the largest importer of oil. And the U.S. is now in talks with China. Will there be any discussions between the U.S. and Brazil with respect to China’s structural reforms, or (inaudible) structural reform discussion and IP theft and forced technology transfers?

And what is basically the goal of the U.S. administration at the moment with respect to China in the bilateral talks? Thank you.

SENIOR ADMINISTRATION OFFICIAL: The United States and Brazil share some things in common here. Yes, you know, Brazil is one of China’s big trading partners. The United States is one of China’s big trading partners as well. And as such, we face a lot of the same difficulties. We face a lot of the unfairness and a lot of the security concerns.

So we both — you know, these are two countries, as the two largest economies in the Western Hemisphere — these are two countries that face many of the same challenges from China on the economic influence space and in regards to the inherent structural unfairness of the trade relationship and the effect that it could have.

So, clearly, that has been a subject of President Bolsonaro’s trip. That will be a subject of discussion tomorrow. Brazil is a member of the BRIC countries — of the B-R-I-C countries — where China is also a member. Brazil has already — it’s been very interesting, because even just last week or week before, Brazil came out clearly in its position, and within the BRIC system sought to tell the other countries that they were wrong-headed as regards to Venezuela and their continued support for Maduro’s usurpation of democracy there.

You know, when you have a BRIC member, a member of the BRIC that discusses these issues that were taboo — obviously, China is also a member of the BRIC countries — you know, it kind of changes the whole dynamic of the conversation.

So, clearly, this is a unique opportunity to voice concerns. They face a lot of the similar issues that we do. And we look forward to cooperating with them on these solutions.

OPERATOR: Okay, that concludes our last question.

SENIOR ADMINISTRATION OFFICIAL: Yes. Correct. Thanks, everybody for joining. Again, we’ll have a readout as soon as possible. In the meantime, if you have any follow-up questions, please feel free to check in with us. And look forward to seeing everybody tomorrow.

END 4:32 P.M. EDT

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Shannon Bream

@ShannonBream

A little behind-the-scenes from my interview with Brazilian President @jairbolsonaro. Tune in tonight, 11p ET @FoxNews @FoxNewsNight

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President Trump Celebrates Greek Independence Day…


Earlier today President Trump hosted a White House event to celebrate Greek Independence Day. [Methinks Recep Erdogan is not too happy. LOL]

White House: “On the 198th anniversary of Greek Independence Day, we celebrate the rich history and enduring bond between the United States and Greece. Our strong alliance and unwavering friendship are rooted in mutual respect and a shared commitment to freedom, justice, and democracy.”

[Proclamation] The common bond between the United States and Greece is rooted in thousands of years of tradition, stretching back to ancient Greece. The lessons of ancient Greek democracies are among the greatest and most enduring ever taught. From them the world came to know and understand the foundational principles of human liberty, self‑government, and the rule of law ‑‑ the very principles that fueled America’s own drive for independence and shaped our Republic. Decades after securing our independence, American citizens expressed their appreciation by supporting the people of Greece in their fight for their own freedom.

Today, our Greek-American partnership is robust and gaining momentum. The inaugural United States‑Greece Strategic Dialogue, held last December, and the United States‑Greece Commercial Dialogue, held last September, highlighted the strength of the bilateral relationship and bolstered confidence in Greece as a regional leader.

We applaud the historic 2019 decision of the Greek Parliament to ratify the Prespa Agreement, which resolved the long-standing naming dispute with North Macedonia. This ratification confirmed Greece’s role as a partner with an abiding commitment to advancing stability, security, and prosperity in the region. Additionally, the 2018 Thessaloniki International Fair forged opportunities for enhanced collaboration in technology, enterprise, and innovation.

Our common vision for a peaceful and prosperous region is particularly evident in our ongoing defense relationship. The rotation of NATO aircraft and equipment through Thessaloniki and Alexandroupoli, the complex bilateral training events, and the availability of Souda Bay for the naval forces of the United States reflect mutually beneficial cooperation to ensure our mutual strength and security. Our bilateral relationship has also afforded many opportunities to support partnerships and initiatives that address the areas of defense and security, law enforcement and counterterrorism, and energy security and diversification.

The strong people-to-people ties that undergird our friendship also serve to fortify our alliance. We continue to identify opportunities to increase student and professional exchanges and English language programs. These programs make tremendous contributions to the economic, cultural, and political power of our two great democracies. This summer, we will launch the Future Leaders Exchange (FLEX) Program with Greece to develop the next generation of leaders who will sustain and enhance our strong partnership.

On this day, we honor the shared values that bind our two countries as faithful allies and friends, and we recognize the profound impact Greek‑Americans have had on every aspect of our culture. Together, recalling the spirit of the ancient Greeks, we reaffirm our abiding belief that democratic institutions offer the greatest opportunity to safeguard human rights, dignity, and freedom for all.

NOW, THEREFORE, I, DONALD J. TRUMP, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim March 25, 2019, as Greek Independence Day: A National Day of Celebration of Greek and American Democracy. I call upon the people of the United States to observe this day with appropriate ceremonies and activities.

IN WITNESS WHEREOF, I have hereunto set my hand this eighteenth day of March, in the year of our Lord two thousand nineteen, and of the Independence of the United States of America the two hundred and forty-third.

DONALD J. TRUMP