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Good Morning, Memphis is one of those serious Free Thinkers -- He reads & studies a lot - he use to post at KTFA; and so did a lot of others - Well we know what eventually happens when someone thinks there's too many chiefs & not enough indians lol - Memphis now sends out his summaries, thoughts, opinions, etc to a mailing list and gets circulated to DinarLand - His writings are most of the time a little over my head but I feel sure many here will digest it easily -- whether they agree totally or not -- lol -- Maybe some here will share their perspective and understanding for all to benefit -- UNEEK "The problem ain't what people know. It's what people know that ain't so that's the problem." ~ Will Rogers I love that quote. It has come to mind often thruout this dinar journey. After typing thousands of pages of material in the past 3 yrs I look back and see that a good portion of it was simply pointing. Pointing to things, both global and domestic changes, that I saw clearly would have a lasting effect on us all. As Will Rogers astutely observed, we each have misconceptions of our world and my assumption is always that I am not alone in attempting to root them out. To minimize them and REPLACE them with reality. PICK A SIDE - ACTIVE OR PASSIVE Last time I made the statement: "Confidence may seem an elusive thing right now but it will come. Our obvious best friend towards this end is knowledge and as we grow in THAT, our confidence will soar." Most of my emails last year were not premeditated (be nice). As "real world" examples popped up, I pointed. I get extremely excited when I "see" something that has value KNOWING that few others will see it from the same perspective and thus risk missing a great opportunity to see more clearly how our world truly spins. To add knowledge. Tonight I am again excited to release this blog. What a shame if we have a real world practical example simply pass us by because we were looking elsewhere! In preparing for the challenges that lie ahead AFTER the re-pricing of the IQD we each have a hurdle to overcome, a new language to learn. The language of finance. These terms can largely remain abstract to us if not seen in the real world. Today's blog will illuminate one such term. For all but the seasoned investor, our financial future depends upon entrusting the right persons which first implies that we know enough to seek him/her out of a crowd! This then requires that we roll up our sleeves and "go to school". This school for me began a few years ago when I gave up my day job of paraphrasing Iraqi news articles and I can proudly report that I have just now scratched the surface! For most readers the majority of your investment choices will become "passive" in nature as the knowledge needed to invest "actively" is not for the faint of heart. Trust me on this. Talk is cheap but try making that REAL decision with REAL money? O well, I have never tried to convince folks on anything as it never works. We have to see it for ourselves and (I believe) soon we will. For others tho, those with a mind to actively manage their wealth, you'll need a rounded macro view of the entire globe as your world will quickly become about managing risk. Risk however is not a one dimensional problem but has many potential points that must each be recognized, analyzed and quantified. If the word passive is not part of your makeup then today's blog is tailored to you. It contains a practical "real world" example that will illuminate the discussion of "political risk", an important aspect of risk for any active investor that IMO receives too little attention. THE PERFECT GOVERNMENT? Before we look at Greece in our example of political risk can you imagine what the perfect gov't might look like? One that would present to us (as investors) a political risk as close to zero as possible? Many of you naturally would answer America here but as a contrarian I would suggest no. Never has a republic stood up against the eventual corruption from within (it's politicians) and without (those who would control the game). That form of gov't most likely to stand and resist such erosions is a pure democracy where the people decide all. This then makes Switzerland the poster child of possibility and (as investors) a nation that should be studied and watched in the years ahead. If I were to ask you to name one politician from Switzerland I doubt if any hands would be raised. Why is that? It is largely because the PEOPLE are center stage. To my point here, their politicians do not have great power and hold sway over all matters. It is by the vote that matters of importance are settled. Before arousing a political debate here (NOT my desire) let's shift to what may arguably be the opposite extreme. So,what does Greece have to do with our discussion on risk? Plenty. But only if we have ALL the information! If our "opinion" (our reality) is based on what we have seen on TV then we have SOME of the facts. These facts tell us that Greece may soon default on it's debt and exit the European Union. And they may, but is there more? If the above were the full story, and Greece DID default, then Greece would be a GREAT source of opportunity for capital as their economy would surely begin to heal very quickly. Confidence would soar and (not unlike Switzerland) capital would start pouring in to this tiny nation or at least that is my position. Confidence is everything and what we are witnessing, and about to witness to an even greater degree in the years ahead, is a great shifting in confidence. Imagine a loose cannon on the deck in a tempest tossed sea and you'll get the idea. This is where our little discussed aspect of risk comes into play. Fresh on the heels of the Greek election what do we know about the new controlling Syriza party? Is there anything of importance? Are they truly JUST the "anti-austerity" party as mainstream media is telling us? In defining risk, using a global mindset, we must always consider political risk. This is one of those terms that we must add to our new language but given the volume of new terms that surely are hard for us to quantify and give value to, I am today pointing to Greece and suggesting that (as investors) this is a perfect real world example of the supreme importance of defining ALL risks. Please don't fail to appreciate that there can be various risk categories applied but for today's purposes? One of the biggies that I see often ignored (seldom talked about) is political. After reading the article linked below you will forever remember the need to take into account political risk. Is Greece soon to be a hot spot for the value investor or is it more likely to be a turbulent home for only the sharpest of crisis investors? I think the latter but regardless THIS is a PERFECT example of the changes taking place in our world. It is then up to us to go seize the opportunity that is afforded. LIVING ON THE EDGE An important thought in closing. I have a habit that has been with me from my earliest memories. It has never seemed odd to me and until recent years I assumed that most folks shared my habit. That turned out however not to be the case. It appears that I am rather odd in that I take EVERYTHING to the extreme. Immediately after being presented with new information it is taken to it's possible extremes. It's my way of chewing on it. Both "worst case" and "best case" scenarios are imagined based on all probabilities at hand and then I attempt to find balance. In time an equilibrium forms and that is then where I become "settled" on the matter. Here's why I share this... Despite what we hear and read in alternate media SELDOM do we witness the extreme possibility become reality. This is important to ponder for what we now see manifesting in the world is exceptional. I won't go into the many factors driving things globally (other than to mention the extreme of sovereign debts) but allow me today to simply point out that we are witnessing the extreme in Greece. Extraordinary circumstances in that nation have brought about a radical shift in their government and this will have a ripple effect in the region, of that you can be certain. Is this to be an isolated example? I think not. What we once considered extreme is changing and I think this trend will continue. It goes with the word "volatility" like Robin goes with Batman and if we think back just 3 weeks another example pops up... The SNB made a surprising move in the middle of the day when they unpegged the Franc to the Euro. The result? An unprecedented move in their currency. This was an extreme event folks and extreme events? They change how people think, how they react and THIS is the secret to understanding how and why capital moves. Exciting times indeed!! Memphis Thinking as an investor of YOUR wealth, IMAGINE NOT KNOWING WHAT YOU ARE ABOUT TO KNOW: on Greece's new gov't: http://www.mauldineconomics.com/the-10th-man/socialism-is-like-a-nude-beachsounds-like-a-great-idea-until-you-get-there

Is it me or does this guy make sense? http://deviantinvestor.com This is a work of fiction with a few similarities to the reality we all know and trust, or … the reality that we think we know. City A in a Paper World: A financial genius had a plan! He and his offspring implemented the plan over several hundred years. Charter a bank. The government authorizes this bank to create and print paper money, backed by gold or silver. (It took surprisingly little in bribes to convince the government leaders that this Bank was a wonderful idea.) The Bank accepts gold, silver and other valuables as deposits into its vaults, and then lends paper money, backed by those gold and silver deposits, to governments, businesses, politicians, and individuals. The debtors borrow paper money but are required to repay in gold. The Bank owners pay themselves huge salaries, become trusted confidents of government leaders, and pillars of the society. Wealth is transferred to the banker class. The Bank owners also “encourage” politicians to create wars and other costly programs, and to borrow from the Bank to pay for their adventures and excess spending. (Surprisingly little money is required in payoffs from the Bank to the politicians.) Debts increase, governments buy votes with promises, and the Bank becomes increasingly important in global affairs. The Bank also agrees to store gold from many other countries for “safe keeping.” The gold is never audited. A few people wonder why it is never audited. So many debts are incurred by governments, businesses, and individuals that the money is transformed into paper, not gold, nor is it redeemable in gold. Of course, it is still “as good as gold.” More promises, more wars, more debts! The money is no longer backed by gold. Prices and total debt rise even more rapidly. The money is reissued as paper currency with no intrinsic value. More paper currency is created every day, and prices for food and energy rise to 10 times, perhaps 100 times, what they were a few decades ago. The Bank continues to create currency and collects interest on all the outstanding debts. Bank owners declare substantial bonuses for themselves and buy gold, knowing the true value of the paper they have been distributing to the populace. A few other people notice the massive creation of currency and the price of gold moves higher. This worries the Bank. A new policy is implemented – the gold in the Bank’s vaults is gradually sold and of course the sale is called something else, like a swap, or a lease, or a scam, or deep storage. This slows the price rise of gold. The bank owners and other elites continue to stockpile gold to protect their own private wealth. Currencies become more digitalized and are easier to create, control and manipulate. Derivatives are created. They provide additional leverage to control prices and increase wealth for the banker class. Greed intensifies and is richly rewarded. However, the risk of another market melt-down of paper assets increases daily. Denials and reassurances are issued by important people. Eventually the system of digital and paper currencies and debt is so bloated that it exceeds the wildest delusions in a typical Ponzi scheme. A reset must occur. An excuse is required. A scapegoat is desperately needed. Call forth a diversion! The Bank owners contemplate many possible diversions – an epidemic, a nuclear attack, another ground war, a cyber-attack that crashes financial systems, an EMP, a huge scandal involving an increasingly useless national politician, a massive power failure, a 1,000 year drought, food riots, an earthquake, and more. The “reset” (some called it a crash, Armageddon, the apocalypse, or paying the piper) resulted in the middle and poorer classes losing most of their savings through inflation, their standard of living declined, and a few riots occurred. Most of the wealthy insiders owned gold before the reset that crushed the purchasing power of paper and digital currencies while the purchasing power of gold and silver rocketed higher. It had happened before but few were aware until too late. More controls over transportation, food, energy, employment, currency transfers, and medical care were instituted to protect the people from the currently designated critically important threats. Few lived “happily ever after.” Repeat: This story is fiction. City B in a Gold World: Money is either gold or silver. Currency units are backed by gold and anyone is welcome to exchange digital or paper currency units for physical gold. Few bother to do so. The gold reserves that back all the currency in circulation are stored in massive vaults, and are audited each year. Governments do not go into debt for longer than three months. All government debts are paid at the end of the fiscal year. Honest accounting is used and financial information is reported to the media. If government overspends revenues in a year, politicians lose all retirement benefits. Without the economic resistance from high taxes, inflation, and a huge government, the economy and most residents prosper. If politicians want a war, they explain how the war will be financed, the supposed benefits of the war, where the money will come from, and the legislature votes. Victory and defeat are defined and measurable. If the country is defeated in the war, the politicians who instigated the war are executed by a military firing squad while all other politicians who voted for the war are cast out of office with no pensions. Most politicians and citizens admit the system is deeply flawed but history has shown that other choices are often worse. Some people lived “happily ever after.” Repeat: This is a work of fiction. Summary: Our fictional City A might resemble some major cities in the western hemisphere. It is inhabited by regular people as well as politicians, rats, and central bankers. Currency units are digital, purchase less every year, and are created in large quantities every day. The political and financial elite control most of the government and the economy for their own benefit. Economic statistics and financial TV continually assure the people that “it’s all good.” The crashes of 2000, 2006, and 2008 caused many people to question the usual narrative. City B does not exist. Currency units are backed and redeemable with gold, the government runs a balanced budget, and politicians are not allowed to use tele-prompters. A reset seems inevitable and possibly imminent. As they say, the market always does what it is supposed to, but not when we expect it. The next crash could be rather severe, unless financial TV is right this time and it truly is all good……… This bit of fiction has been brought to you from somewhere near City A, where I encourage you to read: Senator Tom Coburn, M.D. 2014 Wastebook James Rickards In the Year 2024 SRSrocco Report China 10,000 tons of Gold Lance Roberts To QE or Not to QE

http://www.thenational.ae/business/markets/end-of-a-long-process-nears-as-chief-predicts-bright-future More will start to come out with the ESX, just wanted the forum to be ahead of the curve. There is an isx section. Could the name of that either be changed to isx/ESX or a seperate ESX section added? I have attached the above article to start things off Thanks!

Copper, the Nikkei, the Yen in reverse, silver... AFTER Alan Greenspan gave them the playbook (Credit & Debt Manipulation 101), now Ben Bernanke and global inflators everywhere have taken the ball and run with it in new, innovative and levered up ways, writes Gary Tanashian in his Notes from the Rabbit Hole. Actually it's a game of Whack-a-Mole and they play it well, these inflating moles. The minute you think you're going to drop the hammer on one of their heads, he's gone and another one pops up elsewhere. So how can we follow all the data points that hands-on, manipulative policy has introduced and forecast conclusions with accuracy? The answer is that it is difficult in the short-term, but in the long-term we are all dead anyway, so we might as well use some inflationary bubbles of the past as a road map to what may be ahead. There are currently several bubbles (and one anti-bubble: gold) in play over varying time frames. These bubbles are the direct result of policy actions. Last weekend we reviewed the bubble in Japan's Nikkei in relation to its policy-induced crashing of the Yen and then last week wouldn't you know that the Yen caught a bid and the Nikkei suffered an incredibly bearish day? That was the first impulsive hit. The Nikkei could well go back up to test the highs, but something seemed to kick off over there in the Land of the Rising Sun. Don't fall for calming talk across global markets. It appears the first big moneyed interests got the hell out of the Yen bear trade and the Nikkei bubble trade last week. The Nikkei is copper 2006, crude oil 2008, silver 2011, etc. These markets were hockey sticks with the blade pointing up... They reflected hot money that has been given permission to speculate and drive up prices. But this hot money, newly created and pumped into the financial system does little for the real economy. It transforms debt into vehicles for speculation within the financial sphere, with the first users being the most privileged with respect to coming policy. In other words, the financial entities that put the money to work first and most profitably have been given the playbook ahead of time. Let's be realistic about this. That right there disqualifies Bernanke and Co. from any respect in my book. The system is stacked and speaking as an American, is bad for most of America. You may have similar or contrary feelings about the policy of your country or union, depending on where you live. Never before have the few rich been so targeted for further enrichment and the many of modest or little means targeted for further degradation. Meanwhile the hype is that we have a Socialist in the White House. Well, why do you think he is there and why do you think his agenda is so popular? I guess this is how a screwed up society redistributes some of what its corrupted components have horded The entire post-2000 play has been to financialize the economy to keep it going. To financialize something, you need money. To print money you need to put up more credit and so on and so forth. We know that under Greenspan the US had a convenient partner in China, as the US printed up a bubble in commercial credit and sent the consumer out there, credit card in hand to buy up all sorts of cheaply made goods. This helped build China's infrastructure and pump commodities. That was the play; as inflation 'got out there' it took advantage of the 'China build out' hype and pumped strategic commodities. This time around, a different mole has popped up and it is not one that the commodity gurus and gold bugs favor as it leverages the deflationary pressures in many parts of the world, and contains commodity prices. But the money has to go somewhere and a stock market with a Goldilocks story of 'just right' economic and policy conditions carries the day. So in our twisted macro scenario, good is bad. Mediocre is good and bad will still be bad after the current phase passes. Last week the economic numbers were biased positive and the Fed was on full Jawbone with Huey, Dooey and Louie speaking and the last FOMC minutes were released to boot. An over bought market running with the cult of easy money had a little case of the jitters. That is because the financialized markets do not give a damn about what is good for their host countries or the average person. They are fixated on big mouth bankers in high places who feel they have the right to use monetary magic tricks to direct how the rest of us proceed with our financial affairs. They have withdrawn our free market in favor of something they manage as if it were just another government agency overseeing a given area for the public good. It is FrankenMarket and it does not want what is good for America; it wants what is good for it. At the end of last week some inconveniently strong economic data came in on the heels of the jawboning Fed. Weekly jobless claims were down, home prices were up strongly with sales, and durable goods order reversed a big chunk of the previous month's drop. This all paints a picture that puts the Fed in a position to have to answer the question "why are you taking yield from fixed income investors to reward risk takers if with the Dow above 15,000 and the economy strengthening?" The answer is that something of mocked up origins must be defended to the hilt because it was not born of natural means and its Achilles Heel lurks somewhere within the layers of leverage that has brought us to this point in a confusing macro backdrop. US manufacturing activity for instance is just right. It is going nowhere but is not declining impulsively. A question we might want to ask right here and now is how long will it keep up its lame growth if the Dollar keeps appreciating? A hard rise in the US Dollar would croak the manufacturing sector. What happens then, a return to the China labor outsource arbitrage gimmick? That is waning as China's underpaid workers are slowly being converted to consumers with financial means. Here are our hockey stick bubbles du jour... Japan's Nikkei is a hockey stick. Japan's Yen is a hockey stick flipped over. Copper was once a hockey stick and has gone nowhere – subject to massive ups and downs, compliments of the financialized economy – since. Crude oil was a hockey stick that got members of congress squabbling and hand wringing about how to control the evil speculators that drove the price up to such debilitating highs. Remember? The bubble was actually compliments of Alan Greenspan's out of control credit policies, which I'll bet not one of those bozos sought to blame back then. And finally, we have the silver hockey stick, which formed a huge blade right into the conclusion of the last inflationary phase and commodity blowout. Bottom line on the games of whack-a-mole and bubble hockey? With the modern way of doing things, money is created and set free to go where it will go within the structure of the global economy. Sometimes its inflationary effects will pop up here and sometimes there. Early last decade it was freed up to create a commodity bubble that attached itself to the 'China Story', which was itself a manifestation of the US-China cooperative experiment in credit creation and consumer spending. There is Paul Krugman; he of the respectable platforms at the New York Times and Princeton and there has been Larry Summers; he of the respectable platforms at the US Treasury and Harvard. There have been a thousand others throwing their hats into the ring, speaking intelligently as if they are anything but promoters of an unproductive system that issues credit and creates new money out of nowhere toward its ends. It is not a natural economic path. There will be resolution to the hockey stick forming in the Nikkei. The US and other global markets that have launched rallies through inflationary monetary policy along with the Yen's fall should be affected as well. As we have shown each week, there has been a great wall of sentiment-fueled rationalization erected as to why the new bull atmosphere is real and sustainable. Did the first brick pop out of that wall last week with the Nikkei's 7%-plus decline in a day? The "anti-bubble" is the hockey stick pointing downward toward hell that is the current view of most market participants toward an anchor to honest monetary systems. Namely gold. Think about this for a moment; creators of paper and digital money (i.e. credit) have got the global investment community eating out of their hands in service to asset speculation (in this case, equities) and in utter revulsion toward the anti-market to all of this chicanery, gold.

Poor Henry: One Man's Devastating Loss… and How to Avoid It Yourself By Dan Ferris, editor, Extreme Value Wednesday, May 8, 2013 Tubs of Fun is a simple carnival game. You throw a softball into a plastic tub from a few feet away. The object is to make the ball stay in the tub. It sounds easy, but it's not. The ball is too bouncy, and the tub is too hard. It's difficult to keep the ball from bouncing out of the tub. The player has the illusion he's throwing a ball into a container. But he's really just throwing it at a solid wall. To make it worse, the worker running the game lets you take a practice throw. First he drops a softball in the tub, and it stays, because he's standing right next to the tub. Then you throw a softball, and the ball he dropped in absorbs the energy from the one you threw, and your ball stays, too. But when you play for real money, you can only throw the ball into an empty tub. If you're not the sharpest tool in the shed, you won't figure this trick out. But hey, it's a carnival game. Everybody knows you're not supposed to win. Right? Well, no. Not everybody… Enter 30-year-old Henry Gribbohm, a tough-looking, tattooed young man with a toddler to care for and $2,600 in cash burning holes in the pockets of his dusty work pants. On a recent spring day, Gribbohm walked into the Fiesta Shows traveling carnival in Epsom, New Hampshire. He walked out shortly after, his pockets empty, with a large stuffed banana toy with a smiley face and a dreadlocks haircut draped across the top of his toddler's stroller. A news reporter said the funky banana toy was worth $149. Gribbohm watched the worker do his little practice throw routine and didn't figure out the ruse. So Gribbohm played and played… He lost $300 within minutes, all he had in his pockets. He went home and fetched another $2,300, all that remained of his life savings. He returned to the game and lost all that, too. He admitted on camera, "You get caught up in the whole double-or-nothing-I've-got-to-win-my-money-back…" The thing is… many investors are walking in Gribbohm's shoes… They're making exactly the same mistakes… Gribbohm's first mistake was ignorance of the game he was playing. Gribbohm was on a financial mission. He started playing Tubs of Fun to win a Microsoft Xbox Kinect video game device (valued at $100). When his first attempts were unsuccessful, he ran home, got more money, and kept at it. Gribbohm later filed charges against the game owner, alleging fraud. Yes, Henry Gribbohm thinks alleging a carnival game was fixed is a plausible defense for being clueless enough to give $2,600 away voluntarily. He kept plowing money into a carnival game… while being totally ignorant of the fact that carnival games are rigged. You might think Gribbohm is uniquely naive. But millions of investors are just as bad as he is. They have no idea that Wall Street is often about the same as a carnival. Wall Street is in the business of selling stocks and bonds. This business generates billions of dollars in fees. It's a business that allows bankers to drive around in $300,000 cars… afford $10 million homes in the Hamptons… and collect absurd bonuses. That money comes from customers who are encouraged to buy every piece-of-crap security the bankers can come up with. Think about the brokers, lawyers, accountants, and other people you do business with. Always ask what they get out of it. Ask what has to happen for them to make money. When you buy stocks, ask who's selling them, or who has sold you on the idea of buying them. Know the business you're in, and know the businesses you deal with. Gribbohm's second mistake was pursuing easy financial gain. Most people don't understand that easy financial gain is one of the worst things that can happen to them. Ask a lottery winner. According to author Don McNay's book, Life Lessons from the Lottery, the lives of lottery winners are usually a wreck within about five years of winning. Lottery winners get a ton of money they didn't earn without any practice at hanging onto large sums of money. It's really, really hard to do that. It's like ordering a drink at your favorite watering hole and being dropped into a giant vat of beer. Technically speaking, you got what you asked for… just more. More is bad when you're not prepared for it… when you didn't do more to earn it. Aspiring to easy financial gain might be normal, but it's also self-destructive. Gribbohm was trying to win a $100 prize by playing a $2 carnival game. His results speak for themselves. Investors make this same mistake as well. They buy risky options and hot tips from friends in the pursuit of fast, easy gains. They see the stock market as a lottery… rather than a place where one can buy pieces of world-class businesses that they can hold for decades. Gribbohm's next big mistake was giving in to a bias toward action. Nobody likes to sit still. And that's too bad. Famous 17th-century French mathematician and scientist Blaise Pascal said, "All men's miseries derive from not being able to sit in a quiet room alone." If you search for Gribbohm's picture on Google, you'll see that he's a tough-looking guy. You can imagine him giving in to pressure to "act like a man." Men don't refrain from action. Men act. They take dramatic and constant action. When the going gets tough, the tough get – you get the picture. People think "doing something" is always the answer. Nobody thinks doing nothing is the answer. On the flip side, the actions that keep you from losing your ass at the carnival and in the market will certainly not impress other tough guys, nor attract women looking for tough guys. Taking big risks is more likely to make you feel like a swaggering gambler, someone who's "not afraid to risk it all on a roll of the dice." It'll at least attract a fair amount of attention. Henry Gribbohm got plenty of attention! I've said before that fear is the dominant emotion in the market at all times. When it appears greed has taken over, it's really just the fear of being left out. That fear drives people to constantly seek action. The final mistake Gribbohm made was not knowing how far he was going to go. Gribbohm's story shows you how crazy financial decisions can get, especially when speculating on great financial gain. He lost because he couldn't trust himself. He didn't decide beforehand how he'd behave if presented with a game like Tubs of Fun. What will you do if the stock market falls? What are your goals? I can't really answer any of those questions, but I can tell you what I'll do. I'm a dedicated lifetime buyer of equities. I do what I believe is enough homework to know which stocks to buy and which ones to avoid. Other things being equal, when the market falls, I buy more of what I like, same as I do when chocolate-chip cookies go on sale at the grocery store. I want more cookies, so I like it when my money buys more of them. I like equity returns, too, so I really like it when my dollar buys bigger ones. Every stock investor faces a list of huge unknowns. You're not in control of stock prices or interest rates or tomorrow's headlines. You must make your own behavior in the stock market the most solid, reliable of known entities. You must be in control of yourself. At any point during his incredible losing streak, Gribbohm could have wised up and walked away… but he didn't. Many investors are making the same mistakes he did. If you're one of them, wise up and walk away. And before you come back, make sure you learn the game you're playing. Good investing, Dan Ferris From Dr. Steve Sjuggerud's Daily Wealth FAIR USE NOTICE This may contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.