Review
Culture
Film & TV
Freedom
6 min read

I’m Still Here is a celebration of Brazilian resilience

The Brazilian Oscar winner is an act of remembrance.

Matt is a songwriter and musician, currently completing an MA in theology at Trinity College, Bristol.

A woman, wearing 70s clothing, stands, looking apprehensive.
Fernanda Torres as Eunice Paiva.

The other week in Brazil, crowds were heard jubilantly celebrating: “Brazil! Brazil!” The characteristically enthusiastic nature of their celebration might make you think there had been a football victory. But the victory was in fact the Oscar win for I’m Still Here, the Walter Salles directed movie – a first time win for Brazil in Best International Picture. And Brazil should be proud. As the credits rolled in an independent cinema, I sat in stunned silence. I’m Still Here is a moving and expertly crafted portrayal of family life under tyranny. The film gives a tragic account of the insidious and destructive nature of authoritarian untruth - yet also a celebration of the defiant resistance of unsung heroes in the face of evil. 

Set in 1970’s Rio de Janeiro during a military dictatorship that lasted for 21 years, the film centres around the true story of the Paiva family. The father, Rubens Paiva (Selton Mello), a former dissident congressman, is abducted by the military for interrogation and disappears; the mother, Eunice Paiva (Fernanda Torres), who herself is imprisoned and tortured for 12 days, is left to keep the family together and continue the search for her husband.  

At this point, I should admit that this review is not unbiased, as I have been to Brazil six times, and have an enthusiastic interest in its history and culture. And despite the sombre tone at the heart of the movie, I’m Still Here felt like a celebration of Brazil. The film opens with an ominous helicopter flying over a Rio beach, which leads us to the Paiva family enjoying the sun with their friends. The fun, vibrancy, and warmth that permeates the family gathering reminded me of much of what I love about Brazilian culture. Even in the midst of a repressive regime, at least for this family, the party goes on.  

Unfortunately, the party doesn’t last for long. 

Thirty minutes into the film, the relative harmony of the Paiva family’s world is sharply interrupted, when the military police arrive at their home and announce that Rubens is wanted for interrogation. As the intruders close the curtains and doors, the light, warmth and music that permeated the start of the movie are muffled and suffocated. This scene plays like a microcosm for Brazilian society under authoritarian regime.  

Historians Lilia M. Schwarcz and Heloisa Starling, in their book Brazil: A Biography document how on 14 December 1968, the Jornal do Brasil, a leading daily newspaper, published a special edition to surprise their readers, including a false weather report: ‘Suffocating temperature. Air unbreathable.’ The previous day, the military dictatorship had announced a law which suspended habeas corpus and freedom of expression, permitted the annulment of citizen’s rights, and determined that political trials would be conducted by military courts, with no right of appeal. This allowed the dictatorship to repress political dissent, and led to the mass disappearances of individuals suspected of anti-government activity.  

We see this suffocation slowly take hold of Eunice Paiva. Here Fernanda Torres’ subtle yet arresting performance as the Paiva mother cannot be understated. As she tries to maintain a sense of normalcy in her family, protecting them from the truth, while also quietly and defiantly seeking her husband’s release, we hang on to her every word and nuance of expression.  

Every confrontation she makes to the police is met with deflection, lies, and cover-up. We watch as the insidiously persuasive untruth of authoritarianism seems to triumph over integrity. We get this sense from the world around the Paiva family too – the radio only relays state-sanctioned news, and censors music deemed subversive. I’m reminded of George Orwell’s depiction of the Party in 1984, which enforces ‘doublethink’ on the populace: ‘to be conscious of complete truthfulness while telling carefully constructed lies … consciously to induce unconsciousness.’  

Eunice can be seen as a counterpart to Orwell’s protagonist, Winston, who claimed ‘There was truth and there was untruth, and if you clung to the truth even against the whole world, you were not mad.’ This refusal to let go of truth carries Eunice Paiva, and us along with her.  

While a song won’t take down a dictatorship overnight, it can get into your head, and stick there long enough to inspire some forms of resistance. 

The presence of music in the movie likewise represents a significant thread of resistance to the regime’s propaganda and shrouded crimes. This is heard not just in the vibrant soundtrack of resistance music from the period, but also in the dark and hostile prison where Eunice Paiva is held. Amid screams from other inmates, Eunice hears a man sing out from another cell:  

Samba:

Black,

strong, fearless,

Was harshly persecuted

On the corner, in the bar, in the yard.

He is quickly silenced by a guard, but the refrain memorialises the cry of the oppressed. While a song won’t take down a dictatorship overnight, it can get into your head, and stick there long enough to inspire some forms of resistance, to combat the ‘official’ narrative of events with a subversive counter-narrative.  

Yet in I’m Still Here, the clearest act of resistance comes from the quiet but resolved determination of Eunice Paiva in her refusal to forget her husband, to let the untruth of dictatorship have the final say. I’m reminded of Hannah Arendt’s diagnosis of the ‘banality of evil’ in Nazi Germany. Under dictatorship, with the state’s obfuscatory erasure of its misdeeds, evil becomes normalised, losing its shock, its horror. In this way, atrocities can continue to be committed with impunity.  

But Eunice Paiva’s story reminds us, in Schwarz and Starling’s words: ‘nothing can be completely extinguished, and no one disappears completely without someone remembering their name.' As Chico Buarque, a Brazilian musician foresaw: 

The banal of today 

Will be in journals someday.  

One aspect of Eunice’s story the film does not portray is her faith. According to her children, she would attend Catholic Mass every week, partaking of bread and wine to remember Christ’s death.  I’m curious what influence this continued reminder of the crucifixion of Jesus had on her.  

There are other examples of resistance in Brazil that were explicitly motivated by the image of the cross. Schwarz and Starling recount the opposition of a group of Catholic bishops who used the Church’s communication channels to disclose internationally what was happening in Brazil. One Catholic father, who was personal assistant to the Archbishop of Olinda and Recife, working on international human rights, was kidnapped, tortured and killed. 

In 1970 the Saint-Germain-des-Prés Church in Paris displayed a handcuffed Christ on the altar with a tube in his mouth and a magneto (small generator for applying electric shocks) on the top of the Cross. Above the Cross the words from the Brazilian flag ‘Ordem e Progresso’ were inscribed.  

While we can see the strong parallels between Jesus’ death at the hands of Roman imperial oppressors and the unjust torture of thousands under military dictatorship, the message of the Cross goes even deeper than this. 

The Cross has been throughout centuries a revelation of all of humanity’s deepest wickedness, and not only that, a confrontation of our tendency to evade accountability, to create untruths to hide atrocities, to make evil banal. Yet as Christians of different denominations commemorate the crucifixion at Holy Communion, Eucharist, Mass, we are reminded of a God who suffers for the sins of the world. Perhaps this meal nourished Eunice Paiva in her fight against tyranny. Perhaps this memorial of a suffering saviour served as an inspiration to retain the memory of all those who suffer, to expose the evils that so often go unseen.  

In any case, I’m Still Here, while giving an honest critique of Brazil’s history, ends up being a memorial - even a celebration - of the resilient, Brazilian spirit, exemplified in the lives of families like the Paivas. 

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Article
Culture
Economics
Ethics
1 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.