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A period or state of obscurity, ambiguity, or gradual decline.

Have you heard of the saying sell in May and go away? Traditionally, the period from May through
October has been a time of weakness for stocks. In fact, on average stocks hit their lowest point of the
year on October 27th. And most people dont remember this, but the Dow Jones Industrial Average
actually began plunging right at this time of the year just prior to the financial crisis of 2008. Most
people do remember the huge stock crash that happened in the fall of that year, but the market actually
started to slide in May. Throughout the first four and a half months of 2008, stocks moved up and down
in a fairly narrow range, and the Dow closed at a short-term peak of 13,028.16 on May 19th. From there
it was all downhill for the rest of the year. So will a similar thing happen in 2015 as we approach the
next great financial crisis? Since March 20th, the Dow Jones Transportation Average has already fallen
by almost 800 points. So will the Dow Jones Industrial Average soon follow? Signs of trouble are
popping up all over the place, and the smart money is getting out while the getting is good.
The chart that I have posted below shows how the Dow Jones Industrial Average performed during
2008. As you can see, stocks began plummeting long before the financial crisis in the fall. From May
19th through early July, the Dow fell by about 2,000 points. Should we expect to see a similar pattern
this summer?

Copyright 2015 InterAnalyst, LLC

Like I stated earlier in this article, red flags and warning signs are starting to pop up all over the
place. The following are just a few of the trouble signs that we have seen this week.

The US Dollar
The U.S. dollar index is surging again. In fact, we just witnessed the largest seven day rise in the U.S.
dollar index since the collapse of Lehman Brothers.
Over the past decade, there has been only one other time when the value of the U.S. dollar has
increased by so much in such a short period of time. That was in mid-2008 just before the greatest
financial crash since the Great Depression. A surging U.S. dollar also greatly contributed to the Latin
American debt crisis of the early 1980s and the Asian financial crisis of 1997. Today, the globe is more
interconnected than ever. Most global trade is conducted in U.S. dollars, and much of the borrowing
done by emerging markets all over the planet is denominated in U.S. dollars. When the U.S. dollar goes
up dramatically, this can put a tremendous amount of financial stress on economies all around the
world. It also has the potential to greatly threaten the stability of the 65 trillion dollars in derivatives
that are directly tied to the value of the U.S. dollar. The global financial system is more vulnerable to
currency movements than ever before, and history tells us that when the U.S. dollar soars the global
economy tends to experience a contraction. So the fact that the U.S. dollar has been skyrocketing lately
is a very, very bad sign.
Most of the people that write about the coming economic collapse love to talk about the coming
collapse of the U.S. dollar as well.
But in the initial deflationary stage of the coming financial crisis, we are likely to see the U.S. dollar
actually strengthen considerably.
As I have discussed so many times before, we are going to experience deflation first, and after that
deflationary phase the desperate responses by the Federal Reserve and the U.S. government to that
deflation will cause the inflationary panic that so many have written about.
Yes, someday the U.S. dollar will essentially be toilet paper. But that is not in our immediate
future. What is in our immediate future is a flight to safety that will push the surging U.S. dollar even
higher.
This is what we witnessed in 2008, and this is happening once again right now.
Just look at the chart that I have posted below. You can see the U.S. dollar moved upward dramatically
relative to other currencies starting in mid-2008. And toward the end of the chart you can see that the
U.S. dollar is now experiencing a similar spike

Copyright 2015 InterAnalyst, LLC

At the moment, almost every major currency in the world is falling relative to the U.S. dollar.
For example, this next chart shows what the euro is doing relative to the dollar. As you can see, the
euro is in the midst of a stunning decline

Instead of focusing on the U.S. dollar, those that are looking for a harbinger of the coming financial crisis
should be watching the euro. Analysts are telling us that if Greece leaves the Eurozone the EUR/USD
could fall all the way down to 0.90. If that happens, the chart above will soon resemble a waterfall.

Copyright 2015 InterAnalyst, LLC

And of course it isnt just the euro that is plummeting. The yen has been crashing as well. The following
chart was recently posted on the Crux

Unfortunately, most Americans have absolutely no idea how important all of this is. In recent years,
growing economies all over the world have borrowed gigantic piles of very cheap U.S. dollars. But now
they are faced with the prospect of repaying those debts and making interest payments using much
more expensive U.S. dollars.
Investors are starting to get nervous. At one time, investors couldnt wait to pour money into emerging
markets, but now this process is beginning to reverse. If this turns into a panic, we are going to have
one giant financial mess on our hands.
The truth is that the value of the U.S. dollar is of great importance to every nation on the face of the
Earth. The following comes from U.S. News & World Report
In the early 80s, a bullish U.S. dollar contributed to the Latin American debt crisis, and also impacted
the Asian Tiger crisis in the late 90s. Emerging markets typically have higher growth, but carry much
higher risk to investors. When the economies are doing well, foreign investors will lend money to
emerging market countries by purchasing their bonds.
They also deposit money in foreign banks, which facilitates higher lending. The reason for this is
simple: Bond payments and interest rates in emerging markets are much higher than in the U.S. Why
deposit cash in the U.S. and earn 0.25 percent, when you could earn 6 percent in Indonesia? With the
dollar strengthening, the interest payments on any bond denominated in U.S. dollars becomes more
expensive.
Additionally, the deposit in the Indonesian bank may still be earning 6 percent, but that is on Indonesian
rupiahs. After converting the rupiahs to U.S. dollars, the extra interest doesnt offset the loss from the

Copyright 2015 InterAnalyst, LLC

exchange. As investors get nervous, the higher interest on emerging market debt and deposits becomes
less alluring, and they flee to safety. It may start slowly, but history tells us it can quickly spiral out of
control.
Over the past few months, I have been repeatedly stressing that so many of the signs that we witnessed
just prior to previous financial crashes are happening again.

The Greek Crisis


Thanks to the ongoing Greek crisis, the euro is falling again. It just hit a fresh one-month low, and if I am
right it is going to go quite a bit lower as the European financial crisis intensifies.

In the U.S., orders for durable goods have fallen year over year for four months in a row. When
orders for durable goods start going negative for a few months, it is usually a signal that we are
entering a recession.

After rebounding a little bit, the price of crude oil is falling again. It just hit a new one-month
low, and the number of oil rigs in operation has declined for 24 weeks in a row. Once again, this
is highly reminiscent of what happened back in 2008.

Unfortunately, it isnt just oil that is declining. A whole host of other commodity prices are
going down right now as well. This happened just prior to the financial crisis of 2008, and it is a
sign that we are heading into a deflationary economic slowdown.

The reason why I talk so much about what happened the last time around is that we should be able to
learn from it.
Looking back, there were so many warning signs leading up to the financial crisis of 2008 but most
people totally missed them. Now, so many of those exact same signs are appearing once again, but they
are being ignored.
Only this time the global financial system is in far worse shape than it was back in 2008. Debt levels all
over the planet have absolutely exploded over the past seven years, and the debt to GDP ratio for the
entire world is now up to a mind blowing 286 percent. In the United States, our national debt has
approximately doubled since just prior to the last recession, and at this point it is mathematically
impossible to pay it off.
We are in the midst of the greatest stock market bubble of all time, the greatest bond bubble of all time.

Copyright 2015 InterAnalyst, LLC

The 76,000,000,000,000 Bond Bubble!


Warren Buffett believes that bonds are very overvalued, and a recent survey of fund managers found
that 80 percent of them are convinced that bonds have become badly overvalued. The most famous
bond expert on the planet, Bill Gross, recently confessed that he has a sense that the 35 year bull
market in bonds is ending and he admitted that he is feeling great unrest. Nobel Prizewinning
economist Robert Shiller has added a new chapter to his bestselling book in which he argues that bond
prices are irrationally high. The global bond bubble has ballooned to more than 76 trillion dollars, and
interest rates have never been lower in modern history. In fact, 25 percent of all government bonds in
Europe actually have a negative rate of return at this point. There is literally nowhere for the bond
market to go except for the other direction, and when this bull market turns into a bear it will create
chaos and financial devastation all over the planet.
In a recent piece entitled A Sense Of Ending, bond guru Bill Gross admitted that the 35 year bull
market in bonds that has made him and those that have invested with him so wealthy is now coming to
an end
Stanley Druckenmiller, George Soros, Ray Dalio, Jeremy Grantham, among others warn
investors that our 35 year investment supercycle may be exhausted. They dont necessarily
counsel heading for the hills, or liquidating assets for cash, but they do speak to low future
returns and the increasingly fat tail possibilities of a bang at some future date. To
them, (and myself) the current bull market is not 35 years old, but twice that in human terms.
Surely they and other gurus are looking through their research papers to help predict future
financial obits, although uncertain of the announcement date. Savor this Bull market

Copyright 2015 InterAnalyst, LLC

moment, they seem to be saying in unison. It will not come again for any of us; unrest lies
ahead and low asset returns. Perhaps great unrest, if there is a bubble popping.
And the way that he ended his piece sounds rather ominous
I wish to still be active in say 2020 to see how this ends. As it is, in 2015, I merely have a sense
of an ending, a secular bull market ending with a whimper, not a bang. But if so, like death,
only the timing is in doubt. Because of this sense, however, I have unrest, increasingly a
great unrest. You should as well.
Bill Gross is someone that knows what he is talking about. I would consider his words very carefully.
Another renowned financial expert, Yale professor Robert Shiller, warned us about the stock bubble in
2000 and about the real estate bubble in 2005. Now, he is warning about the danger posed by this bond
bubble
In the first edition of his landmark book Irrational Exuberance, published in 2000, the Yale
professor of economics and 2013 Nobel Laureate presciently warned that stocks looked
especially expensive. In the second edition, published in 2005 shortly before the real estate
bubble crashed, he added a chapter about real estate valuations. And in the new edition, due
out later this month, Shiller adds a fresh chapter called The Bond Market in Historical
Perspective, in which he worries that bond prices might be irrationally high.
For years, ultra-low interest rates have enabled governments around the world to go on a debt binge
unlike anything the world has ever seen. Showing very little restraint since the last financial crisis, they
have piled up debts that are exceedingly dangerous. If interest rates were to return to historical norms,
it would instantly create the greatest government debt crisis in history.
A recent letter from IceCap Asset Management summarized where we basically stand today
Considering:
1) governments are unable to eliminate deficits
2) global government debt is increasing exponentially
3) 0% interest rates are allowing governments to borrow more to pay off old loans and fund
deficits
4) Global growth is declining despite money printing and bailouts And, weve saved the latest
and greatest fact for last: as stunning as 0% interest rates sound, the mathematicallychallenged-fantasyland called Europe has just one upped everyone by introducing
NEGATIVE INTEREST RATES.
As of writing, over 25% of all bonds issued by European governments has a guaranteed
negative return for investors.
Germany can borrow money for 5 years at an interest rate of NEGATIVE 0.10%. Yes, instead of
Germany paying you interest when you lend them money, you have to pay them interest.

Copyright 2015 InterAnalyst, LLC

These same negative interest rate conditions exist across many of the Eurozone countries, as
well as Denmark, Sweden and Switzerland.
Negative interest rates are by nature irrational.
Why in the world would you pay someone to borrow money from you?
It doesnt make any sense at all, and this irrational state of affairs will not last for too much longer.
At some point, investors are going to come to the realization that the 35 year bull market for bonds is
finished, and then there will be a massive rush for the exits. This rush for the exits will be unlike
anything the bond market has ever seen before. Robert Wenzel of the Economic Policy Journal says that
this coming rush for the exits will set off a death spiral
Anyone who holds the view that the Fed will not soon raise interest rates, and soon, fails to
understand the nature of the developing crisis. It will be led by a collapse of the bond market.
Market forces, somewhat misleadingly called bond-vigilantes, will lead the charge.
I am not as bearish in the short-term on the stock market. The equity markets will be volatile because of
the climb in rates and look scary at times but the death spiral will be in the bond market.
As this death spiral accelerates, we are going to see global interest rates rise dramatically.
And considering the fact that more than 400 trillion dollars in derivatives are directly tied to interest
rates, that is a very scary thing.

When it snaps its ugly!

Copyright 2015 InterAnalyst, LLC

400,000,000,000,000 Derivative Bubble


All over the planet, large banks are massively overexposed to derivatives contracts. Interest rate
derivatives account for the biggest chunk of these derivatives contracts. According to the Bank for
International Settlements, the notional value of all interest rate derivatives contracts outstanding
around the globe is a staggering 505 trillion dollars. Considering the fact that the U.S. national debt is
only 18 trillion dollars, that is an amount of money that is almost incomprehensible. When this
derivatives bubble finally bursts, there wont be enough money in the entire world to bail everyone
out. The key to making sure that all of these interest rate bets do not start going bad is for interest rates
to remain stable. That is why what is going on in Greece right now is so important. The Greek
government has announced that it will default on a loan payment that it owes to the IMF on June 5th. If
that default does indeed happen, Greek bond yields will soar into the stratosphere as panicked investors
flee for the exits. But it wont just be Greece. If Greece defaults despite years of intervention by the EU
and the IMF, that will be a clear signal to the financial world that no nation in Europe is truly safe. Bond
yields will start spiking in Italy, Spain, Portugal, Ireland and all over the rest of the continent. By the end
of it, we could be faced with the greatest interest rate derivatives crisis that any of us have ever seen.
The number one thing that bond investors want is to get their money back. If a nation like Greece is
actually allowed to default after so much time and so much effort has been expended to prop them up,
that is really going to spook those that invest in bonds.

Copyright 2015 InterAnalyst, LLC

10

At this point, Greece has not gotten any new cash from the EU or the IMF since last August. The Greek
government is essentially flat broke at this point, and once again over the weekend a Greek government
official warned that the loan payment that is scheduled to be made to the IMF on June 5th simply will
not happen
Greece cannot make debt repayments to the International Monetary Fund next month unless it
achieves a deal with creditors, its Interior Minister said on Sunday, the most explicit remarks
yet from Athens about the likelihood of default if talks fail.
Shut out of bond markets and with bailout aid locked, cash-strapped Athens has been scraping
state coffers to meet debt obligations and to pay wages and pensions. With its future as a
member of the 19-nation euro zone potentially at stake, a second government minister
accused its international lenders of subjecting it to slow and calculated torture.
After four months of talks with its Eurozone partners and the IMF, the leftist-led government is
still scrambling for a deal that could release up to 7.2 billion euros ($7.9 billion) in aid to avert
bankruptcy.
And it isnt just the payment on June 5th that wont happen. There are three other huge payments due
later in June, and without a deal the Greek government will not be making any of those payments
either.
It isnt that Greece is holding back any money. As the Greek interior minister recently explained during a
television interview, the money for the payments just isnt there:
The money wont be given . . . It isnt there to be given, Nikos Voutsis, the interior minister,
told the Greek television station Mega.
This crisis can still be avoided if a deal is reached. But after months of wrangling, things are not looking
promising at the moment. The following comes from CNBC:
People who have spoken to Mr. Tsipras say he is in dour mood and willing to acknowledge the
serious risk of an accident in coming weeks.
The negotiations are going badly, said one official in contact with the prime minister.
Germany is playing hard. Even Merkel isnt as open to helping as before.
And even if a deal is reached, various national parliaments around Europe are going to have to give it
their approval. According to Business Insider, that may also be difficult.
The finance ministers that make up the Eurogroup will have to get approval from their own national
parliaments for any deal, and politicians in the rest of Europe seem less inclined than ever to be lenient.
So what happens if there is no deal by June 5th?
Well, Greece will default and the fun will begin.

Copyright 2015 InterAnalyst, LLC

11

In the end, Greece may be forced out of the Eurozone entirely and would have to go back to using the
drachma. At this point, even Greek government officials are warning that such a development would
be catastrophic for Greece:
One possible alternative if talks do not progress is that Greece would leave the common
currency and return to the drachma. This would be catastrophic, Mr. Varoufakis warned, and
not just for Greece itself.
It would be a disaster for everyone involved, it would be a disaster primarily for the Greek
social economy, but it would also be the beginning of the end for the common currency project
in Europe, he said.
Whatever some analysts are saying about firewalls, these firewalls wont last long once you
put and infuse into peoples minds, into investors minds, that the Eurozone is not indivisible,
he added.
But the bigger story is what it would mean for the rest of Europe.
If Greece is allowed to fail, it would tell bond investors that their money is not truly safe anywhere in
Europe and bond yields would start spiking like crazy. The 505 trillion dollar interest rate derivatives
scam is based on the assumption that interest rates will remain fairly stable, and so if interest rates
begin flying around all over the place that could rapidly create some gigantic problems in the financial
world.
In addition, a Greek default would send the value of the euro absolutely plummeting. As I have warned
so many times before, the euro is headed for parity with the U.S. dollar, and then it is going to go below
parity. And since there are 75 trillion dollars of derivatives that are directly tied to the value of the U.S.
dollar, the euro and other major global currencies that could also create a crisis of unprecedented
proportions.
Over the past six years I have written more than 2,000 articles, I have authored two books and I have
produced two DVDs. One of the things that I have really tried to get across to people is that our
financial system has been transformed into the largest casino in the history of the world. Big banks all
over the planet have become exceedingly reckless, and it is only a matter of time until all of this
gambling backfires on them in a massive way.
In the western world, we have extremely short attention spans and we suffer deeply from something
called normalcy bias. The following is how normalcy bias is defined by Wikipedia
The normalcy bias, or normality bias, is a mental state people enter when facing a disaster. It causes
people to underestimate both the possibility of a disaster and its possible effects. This may result in
situations where people fail to adequately prepare for a disaster, and on a larger scale, the failure of
governments to include the populace in its disaster preparations.
The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred
then it never will occur. It can result in the inability of people to cope with a disaster once it occurs.
People with a normalcy bias have difficulties reacting to something they have not experienced before.

Copyright 2015 InterAnalyst, LLC

12

People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to
infer a less serious situation.
That is such a perfect description of what is happening in the western world today. But just because
things have always been a certain way in our past does not mean that they will continue to be that way
in the future. A great economic storm is rapidly approaching, and the signs of the times are all around
us.
Over the past six years I have written more than 400 articles, researched and posted over 1000
economic charts. One of the things that I have really tried to get across to people is that our financial
system has been transformed into the largest casino in the history of the world.
Big banks all over the planet have become exceedingly reckless, and it is only a matter of time until all of
this gambling backfires on them in a massive way.
It isnt going to take much to topple the current financial order. It could be a Greek debt default in June
or it may be something else. But when it does collapse, it is going to usher in the greatest economic
crisis that any of us have ever seen.
So dont be fooled by all of the happy talk in the mainstream media. They did not see the last crisis
coming either.

Copyright 2015 InterAnalyst, LLC

13

In 1986, Livio S. Nespoli wrote is first Investment Book called Invest with
History. In it, he revealed how an investor could use historical precedent
along with social mood and demographic trends to accurately predict the
direction of the markets, sometimes decades in advance.
Since then, Livio had delivered countless seminars to thousands of
professional and amateur investors teaching them how to accurately
identify booms and busts well ahead of the mainstream. He gained
international national attention for his warning investors of the 2000 peak
and 2008 stock market collapse months before they happened. But this was not the first time he was on the
money with his big picture forecast.
For example, in February of 2000 Livio accurately forecast the stock market collapse and the multi-decade
economic collapse that would begin. In other words, his proprietary indicators, which are now available to all
investors, accurately predicted the major economic and stock market events that could have made you
substantially richer over the past 18 years.
How does he do it? Well, while most economists focus on short-term trends, policy changes, elections, things
that are volatile, unstable and can change from day-to-day. Livio has always focused on long-term trends and
cycles, not the day trader mentality. Demographics. Business cycles. Socionomic patterns. Things that have
demonstrated themselves over hundreds and even thousands of years to be consistent, predictable and
measurable.
In addition, through over 80 years of research he has found that most of the largest financiers have known of
these proven and predictable Socionomic patterns. He has provided devastatingly accurate market entry and
exit points by helping you follow those historically proven cycles.
He studies the past to forecast the future, an approach that enables subscribers to position themselves with
an incredible degree of accuracy. Then he makes minor tweaks and adjustments in response to intermediate
term events that occur along the way.
And thats what he brings to you on his InterAnalyst subscriptions so youll know whats coming next, where
the immediate opportunities are, and where to park your money for the longer term.
As an InterAnalyst subscriber, you will know, for example, when its time to start profiting from the rise of
specific economies and exactly what investments will hand you the fastest profits.
Youll learn when commodities will likely reach their peak in their cycle and how to ride the gains. Youll also
learn when theyll turn down and what investments to make to profit from any moves down.
And youll learn when the property market will turn up again. Youll learn when, money markets and bonds
would be a better investment than equity allocations and when not. Youll be ahead of the markets on every
boom and bust and access the tools you can use to prepare yourself to profusion.

Copyright 2015 InterAnalyst, LLC

14

Our Point Of View


A body of research in positive psychology suggests that optimism has a number of benefits: social,
psychological and physical (Schneider, Gruman, & Coutts, 2011). Optimism has been correlated with
improved mental and physical health, better work and educational outcomes, and richer social
relationships.
While optimism appears to be a healthy orientation, things are not quite so simple. Some researchers
identify two classes of optimism: realistic and unrealistic (Weinstein, 1980). Unrealistic optimists are at
risk for self-deception, especially in domains such as risk assessment (Collingwood, n.d.). Realistic
optimists, on the other hand, more successfully incorporate data about situations and events, balancing
the best of optimistic and pessimistic perspectives. The realistic optimist point of view could be summed
up by the adage: "hope for the best, prepare for the worst".

To make matters more complex, the idea of optimism and pessimism as dispositional attributes is giving
way to a more nuanced view of these constructs (Paul, 2011). Neither perspective is inherently good
nor "bad", both can be adopted as needed, both may be considered highly functional depending on the
situational context.

Copyright 2015 InterAnalyst, LLC

15

In some situations, "defensive pessimism" can be a powerful motivator to make better choices. For
example, being pessimistic about the economy may be a motivator to avoid debt and manage your
money more effectively.
Personally, I've always considered myself something of a realist.
On a scale of half-empty to half-full, most of the time I think "oh, there's a glass with some water in it,
let's measure it".
In some contexts, I'm more optimistic (e.g., if I'm working on this newsletter and I have a sufficient
degree of control over it, I'm usually reasonably optimistic that it will succeed), in other contexts, I'm
less optimistic (e.g., if I'm out fishing on a Sunday morning, and the tides are all wrong and I'm out of
bait, I'm reasonably pessimistic about bringing home dinner).

InsidersPower
I believe socionomics, social mood, and capital flows drive economies in cycles globally. Because of the
World Wide Web there is no time in history that allows for easier data gathering and tracking because
all countries are now highly correlated.
This InsidersPower Newsletter is a compilation of current economic articles written, not by us, but by
global authors within the last 90 days. They represent the current global social mood and creates a
global Point of View that has, by the way, been extremely accurate from ancient Greece and Rome to
our own current society.
It represents current economic reality on a global scale whether its positive or negative. Ultimately,
through the Current Investment Guideline found at the bottom of the Wealth Preserver
InsidersPower page. It delivers the opportunity of an optimistic, positive and profitable outcome for you.
Based on the criteria already outlined, I believe InsidersPower to be an extremely REALISTIC newsletter
that carries both OPTIMISTIC and PESSIMISTIC content that delivers an OPPORTUNISTIC outcome.
Ultimately, I just hope you enjoy its content and profit handsomely.
InsidersPower has received both positive and negative comments by readers and we appreciate both so
please opine anytime to InsidersPower@InterAnalyst.us.
By the way . . . which point of view dominates your personality? Now ask your friend or spouse to see
if they agree!

Copyright 2015 InterAnalyst, LLC

16

NEWSLETTER DISCLOSURE
This financial newsletter is a description of how financial markets behave and how we read current market
conditions. There may from time to time include commentary describing different investment theories
that may increase market accuracy. The purpose of our market-oriented publication is to outline the
progress of markets to educate interested parties in the successful application of the information within
the financial letter. While a course of conduct regarding investments can be formulated from such
application information. At no time will this financial letter make specific recommendations for any
specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice
is intended.
InterAnalyst does not scribe all articles; rather, we sift through thousands of current economic and
financial articles written by hundreds of contributors from around the globe. Like InterAnalyst, our
contributors do not care which direction the markets are going. Our contributors offer articles that help
us discern which way the markets may trend in the future.
InterAnalyst is solely responsible for the design, some articles, the current investment guideline herein,
the Wealth Preserver and Wealth Maximizer signals on the InterAnalyst.us website.
This financial newsletter is neither a solicitation nor an offer to buy or sell security of any kind. No
representation is being made that any account will or is likely to achieve profits or losses similar to the
illustrations herein. Indeed, events can materialize rapidly and thus past performance of buy and hold,
trading system, or any other methodology is not necessarily indicative of future results particularly when
you understand we are going through an economic evolution process and that includes the rise and fall
of various governments globally on an economic basis and the fact that economies continually cycle.
Past results of any individual or trading strategy published are not indicative of future returns.
Hypothetical or simulated performance results have certain limitations. Unlike an actual performance
record, simulated results do not represent actual trading. Also, since the trades have not been executed,
the results may have under-or-over compensated for the impact, if any, of certain market factors, such as
lack of liquidity. No representation is being made that any account will or is likely to achieve profit or
losses similar to those shown.
The indicators, strategies, columns, articles and discussions (collectively, the information) are provided
for informational and educational purposes only and should not be construed as investment advice or a
solicitation for money to manage since money management is not conducted. Therefore, by no means is
this publication to be construed as a solicitation of any order to buy or sell any security. Accordingly, you
should not rely solely on the information in making any investment. Use the information only as a starting
point for doing additional independent research in order to allow you to form your own opinion regarding
investments. Dont trade with money you cant afford to lose and never trade anything blindly.
Always consult with your licensed financial advisor before making and investment decision. Its your
money and your responsibility.

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