Orson Welles goes to Brazil to shoot his documentary It's All True.

A customs agent, Dr. Amnésio, examines some reels of film, a documentary Orson Welles made about Brazil, and tries to confiscate the material. Then, a party in which repression agents celebrate their victory against freedom and creativity.

Spider, a banker, lives with three women. This tycoon is a caricature of Brazil's bourgeoisie, his trajectory is the starting point for an essay on the mental underdevelopment of Brazilian elites, in which black humor sets the tone for sharp criticism.