HQ GQ PLWF
"ROGOF ]HHYQD ]HN[DG RLF GQ IW
GUD ON GNHTG ]DLL C
GUD ON DOHOG ]OLKS D
DOHO GHUG GNHT GHUG E
PHLG MQD PLQUW GQN RLOW] JLSQG F
R]HUO GD[G ]HHYQ HLSWO HLG G
RN PLQLG ]UDD GD DLO PLTSNS PUW OND GNHT ]HYQ OU PLN[DQ PCG PLC[HQCH PLCS] HZOJS C
GSHC[G PUWD COC M[DQ HSLC HC VTHL D[ KZS RNH RSJHL LD[ ]UF RNH RLOW] RLSUO LD[ ]KL
RNH RLOW]D LD[ OU PLZOHJG PLQNJ ]UF RN GOLODH PHLD ]EGHS G]HHYQD ZTWG RLC LSWQ TSNS
GD DHL PUW OND GUD ON PLN[DQ GNOGO HZLTGH OCHQ [QC RNH C]LL[DD HS
[CH GLLUO [DHU CG] GN[DG LFN DL]Q PFHZ GNHTD DLO M[DO D]N PDQ[G C
D[ LWU ]NQS GHYQ G]DLL LSWQ DLH TSNS [JCO M[DQ PL[DHTH PLZOHJ PLSHC[
FHUH ICL[ C[ R[ RHCE JQY
HC GD OLLKO TSNSN COH GOLNCD COC GNHTD DLO PLN[DQ RLC PLEGHS ISNC LSD DH[ D
RLD FUT RLD M[DL CHG UHFL EGSQ H[ZDO H[DJ ]NHTD TSNSG D]N RHCE LCG D[H RHLO
GNHT PDQ[U RSO HC OLLKO RLO TSNS PUW OND M[DO PL[DHT PLSHC[ GQNH FHUH C[U FUT CO
L[HU LWU ZTL[DQ J[EG RNH JL D[ GUQ C[EG EGS RNH KZOG LOHDH PLLJ ]HJ[C CDKL[ DLH
FL[EG
HI H]OLNC GFHUT PHZQD HFLZ DJLL RLSTND GCDG ]W ONHCH RLLG OU FZQG GC[S
RLLG ]LL] PFHZ HFLZG O RWEG ]N[D [JC GNHTD DLO M[DO L RN OUH UDZ ]DJS
IU HU PLLJ ]QO
M[DQ HSLC GNHTO [DF CLDGO HC H[DJ PU [DFO CYL RHEN []OCO [HIJO ]SQ OU CYL PC E
DLH GNHT QQ FQ[] GLDC[ L[LCQD UUH CDKL[ LWU [IHJN
DOHOG LW OU VCH PLQLG ]UDQ PHL OND DOHOG OU M[DO L RSJHL LD[ PD RLD[H D[H OCHQ L[DFO D
]N[D PLN[DQ FZQO [NI PLQNJ ]SZ]Q PLQLG [CH FJC PHL COC G[H]GQ GHYQ HSLC RLOHDED
PGL[DFQ ]HHYQ OU GHYQG
FZQDH@ RHC[ PHL COC M[DO RLC ZJYL LD[H LHO RD UHGL LD[H RSJHL LD[ PD GSJ [D [D GD[ L[DFOH
>GUD ON
GNHSJ [S RHENH ]HQHZQ GQND ]HLEHTG ]HUQQN RSD[F ]HHYQ OU M[DO PLKZHS GNOGO C
PLZTHW [CH CDKL[ L[ LWU HNH GOLEQ C[ZQH
PFHZ DOHOG OHKLO OLJ]LQ CQ DOHOG OU M[DQ L]QLC HZW]TS [DHU GF KO TH]G D
PE HC H]OLFE M[F HNWHGH M[DQ ICH MHWG PGQ FJCN PGLS OKHS HC EH[]CG OHKL
]CYO CO GSHHN COD PE HC M[DQH RLLFU GHYQG LFL ]CYO CO RLHNQ RLFN POKHS [JCO
PLUHSUSD GHYQO MQG LH [JCQ M[DO OHNL
KT[
]UF VTHL
DOHOG PLOKHS LH@ PLEGHS PLD[ RNH ]HSHC[G ]HLH[WCG L]N D]N JCS[] MH[U RJOD
KZS C[EGH >CI[EG EGS RNH PLN[DQ ICH RJOG OU JSHQ CHGN EH[]CG PLTWH]H FLD
GHYQD ]CYO CO RLHNO ]HYUGQ ][JDHQG NLWUCH ]HYU R]HCO ML[Y RLC RLSUG [ZLUD
P DSQD CDHQ GN[DG [JC FU
HSQLLZH HSLLJG MH[D [QHC HQYUO GNHT GHUG RNH HQYUO DOHO GHUG C]LL[DD HS E
CDKL[ DNUO GO ]HNL[YG ]HSWFD HC MNTD [DF GD FJO OHNL PC ]FQHUH GLHU GNHTG G]LG
[QC GNHTD DLO H HSLJG PL] M[DQ GD TSNLNO HCO PCH M[DQ EZT CQ[] DSQD CDHQH
>HS ROGO [CD]L ]HN[DG [FT@ HFLZ O THN OU ROHN ]HN[DG [QC CSGN D[O L]LC[ LC D[
C[D GNH H]TLSND EJG OU M[DOQ [KWS GNHT ]LLU OU HSLLJG M[DQN HFFY TH]G C
PDQ[G ]UFO CEQ[] VTHL LN[D CDKL[U PLZOHJ LH R[H
D]N H]LDD EJG OU HSLLJG M[LD COC GNHTD GOLOD DL COH GLLU ]UD M[LD CO D
RHC[G PHLD DOHO OKS CO LQ RNH ][JQO GNHTD DLN HSLLJG DH M[DQ FDC[G
LH EJG ]TLSND HSLLJG M[LD LWUC [JC PHLD M[DQ >H]LLU ]UD M[LD CO PEH@
M[LD CO PC HSLLJG M[DQ LULDG PHLD HOLWCH@ GSHC[ G[DTN EGSQG ODC PLZOHJ
DLYSG LHFJ J FDC[G ]DH]D UH CCQ[] CQ[ L[LCQ R[ >KNZT CS[] DSQ CJ PFHZQ
]NTQG VHTD
[D]TQ H[DJ ]NHTD ONCN HSLLJG RHC[G GOLOD M[LD [DNH QGHJD GNHT GHUG
LDY [GD CDHQ OYI RLKD[W C[EG LWU HOLDD GFJ GSLC GNHT ]HYQ LN DH M[DQ HSLC
GDJ[GD QHQ U
[JCO GCU HOLWCH GNHT ]HUO M[DQ GNHT GHUG [DHTG EK ]HN[D LQOH[LD CS] L E
TH]D C[EG GLEG RNH C[G ]T[EH C[H O[U HQO GQO@ GNHT ]HUO M[DQ
PDQ[ C[ LWU GNOG RNH DQ ]HJSQ U MN OU ZOHJ HSO FHQO] ODC > GNHT ]LLU OU
JCL ]HN[D
RNH THNG OU ONG PL[FTQ COC GNHTG ]LLU ]UD HSLLJG M[DO PLEGHS RLC GUQO F
CDKL[ UH CQ[] UHK EGN C[G ]H LNF[Q LWU GSHC[G GOLKSG ]UD DOHOD
HLOU M[D PEG DOHOG OU HSLLJG ]HLHOE O LS KHLD PLN[DQ PCG PLSHC[G HZOJSH
DDT[] JHC M[DO RLC PLZTHWG ]SZTQH DO] D[ ]H C[U OHQ]CQ
LLDC FDOD ]L[J COC M[DQ HSLC PL[QHC PLQNJH LD[ L[DF RGLOU M[DQ RJLSQ RQI ON RLOW] F
GLG CO CD[O L]LC[ OCHQ ]D O GSD L[Q D[ [QC PLQNJN GNOG [QC CD[ LD[N GNOG [QC
LC D[ ]LDDH LWW D[O GC[ C[KHI [Q FLUG RNH RJLSG PUW OND M[LD COC H]UHQN GUQ GHU
RGD PLQQQ HLG RQI OND M[DO RSD[ HEGS
HLG [D]TQH RLOW]D QQO GHYQG PHQ HQQD PLN[DQ HLG MNO H[LW TH]G C
R[GH TH] PLFQHUH PLJSHQ L[G JLSGO COH HLZHJ [HQO HQQG ]UD PLN[DQ
GID CYHLN HC >]UFG JTGQ [QHON@ RLOW]G ]C [HQO D]N
[JCO HQQD QLH R[H C[U PQHZQQ HKQS RLOW] HQQD [DHFQ PL[WQ LH
CDKL[U ]UFG JTG
[U
GNHT ]NTQ PHNLTO ]HDH]H ]HOC
DLGN JHC IF RLOW] PDQ[ PLSH[JC PLC[HQC EGSQNH JLSQ PUW OND M[DO LD[N GNOG D
PHQ [WC HQQG ]UD M[DO LC D[ LDF RSD[ EGSQ HKLQG PLZTHW FHUH PDQ[GH
PLN[DQ HSLYQS GU OND M[DS PCH PGD QQO DLLJ RQIG [HULD PLCLZD HSSLC
KQLGO PLOLJ]QN QQQ [CN P]HQN GNOG RLC D]N L[LCQGH PLSHC[U GOKDO
M[DO HSLLF HSC ODC P]UF HJLTG PC PLN[DQ ]UFG JTGD PL[LGI HLG PG PL[WQ LH
CDKL[U GJSG ]UD
OSN PHZQO P]HC PL[LIJQH PQHZQQ HCYLN [DHFQ COC FHUH VL[U P]HQN GNOG CLH
DSQ M[DQ HSLCH [LIJQ R]YZQ HKQS ODC M[DQ RDH[ HC ROHN HKQS CZHFH R[U
PLEGHS RLC PQHZQQ L[QEO HKQS HOLWC GOLW]G ]UD Z[ JLSGO PLOLE[ G]UH GQZT GN
]SQ OU XOHJN GI L[GH RGQ H]UF JLTQ HSLC GOLW] ]UD CQ]TQ LN R[LIJQN M[DO
P PLZTHWD CDHQ GO LWU [LIJGO
M[DQ [QHC GFHGL LD[ ]HHYQG OU HSHYH HL]HHYQD HSFZ [C MH[D [QHC GD[G ]HHYQ HLSWO HLG G
PHL PHL G MH[D DH]N GFHGL LD[N GNOG CWW [D CSLSJ LD[ C[LI LD[ [QC ]JCH ]JC ON OU
HL]HN[D RLUQ HO R] [DFH [DF OND RCN VC HL]HN[D RLUQ HO R] PHL OND
RGL]O ]JC GN[D M[DQ ONG L[DFO ]HGI ]HHYQD ODC ]HSH ]HHYQ L]D COC HZOJS CO
ROOHNO [WC ]HHYQD RNH FHUH FW DL[G ]H LWU GI [JC GID ]HZHSL] L] OGHQG RHEN
JUCO FHL IKC [UQ PDQ[ LWU ]H[UQH ]HQH[] ][WGD RHEN ROOHN ]JC GN[DD
>GOJ RLSUO VCH@ [DFD HZOJS DG LCQF LQOH[LDH
EN ]DD H[CD]S GNHSJ [S ]HN[D LSLF
HQ VF
"OHJDH X[CD LSLQDH EJG LQL ]UD MQD GOLNCD []HQ GHYQ O EH[]C PCG C JW
"HOOG PLQLD GNHTG LYUD HQL RLF GQ D
"RHC[ DHK PHLD RKZ FOLO HLSLQH DOHO ]HSZGO HGQ E
[]HQ H]HHYQ PLLZ [JCO LULDG PHLD PCG PLC[HQC HZOJSH HONCO [HTCH H]HHYQO GYZHG EH[]CG C
OTWS EH[]C HOLWCH FDOD H]HHYQO HC PHLG ONO GYZ]G PCG RSJHL LD[ [HTC HC LZO L[
RSJHL LD[ ]KLNH C[LI LD[ [QC RN GUD ON HONCO [HTC
[]OCO HONHCH FJC OND CYHL PCG PLQL GUDO PLEH[]C GUD L[WQD LTC D[H D[ [DFD HZOJS RNH
][JQO Z[ HONHC HC
PHQ H[LW CDKL[H L[ [HTC LSLQD HOLWC EH[]C OCHQF GHDC H]KLD FQU RNH [QC LHO
]LD UUH GNHT HKC G[IE PHQ PL[WQH PLZOHJ TH]GH LULD PHL ZWT ]QJQ ]HQG RLD GYZ]G
TFL[EG L[HULDH FS EJ LHOG
LULDD HONCO []HQ MNO G[HQE GHYQO GYZHG CO GSH ]HZHSL]G O EH[]C L[WO C
HH[LWQ HKS GQ TH]GH
CU[
]UF VTHL
GHYQO LHC[ HSLC [DN FUHQG OHJD HONCO []HQ OTWS EH[]C GNOGO D]N LQ L D
HKI GNHT MOQG [U
C[ OTWS EH[]CO RLFG CHGH FHUH VL[H L[ LSLQD []HQH LULDD [HTC RSJHL LD[N GNOG E
LN ][JQO PHLD COC EH[]CG OHNCO []HQ RLC PLQL GUDO PLEH[]C GUD L[WQD RNH
PHLG ONO GYZ]G
FJC ON O ]HQG RLD EH[]CGQ OFHD HSLC C[Q GS]Q LCS] OLUHQ TH]G HD]N F
DHK PHL FDOQ [HULN HD L PC [CS GQD ]CYOH H]YZQ OHNCO OHNLH GY[L PLQLGQ
GD[U RLSUO KS] LNF[QG NNH OHTW [TJG EH[]C RHC[
CKLO LZTDLSZ J[EGQ D]NQQ HD HFECO LFN EJD DOHOG RQ GOU [LTGO CO HSOYC HFLWZG G
PLOUD Q]GO []HQ DOZT I PH L]N LHFJQ LZT L GQO ]HNLOGD CDHQ CI[EG ]UFH
GHYQG VHEQ HSLC HOKHS GIG ZOJG LN >]H[G [DFO VC@ MH[C DOHOD
U
LULDZWTLSLQ LFLC D[F GL[D CL D[ EGS RNH LLDC [QC LS DHK PHL PLHU X[CO GYHJD
C[HTD HEGS RNH []HQ LULDZWTLSLQ HOLWC [QC [QL[Q []HQ LSLQZWTLUL] [HTC
LLDCN GNOG C[QED HZLTGH H]HQN
EH[]CG [HTC UHDD RHC[ PHLD LSLQZWTLUL] RH[JC DHK PHL OJN PL[QHC L
[L]G C[GH DHK PHLO GSLNQ ]D RLC GSNG PHQ DHK PHL LCYHQO FU
ML[Y ]HQG RLD GFHUT HO GSQFIS PCH OLCHG@ LSLQD HOLWC G[HTC TH] GLHSH GNHT RSJHL LD[ [QC D
HSLC EH[]C NCQ LSLQG PHL ONO G]YZ]G MN MH]QH ]HQG RLDO G]YZ]G L[G GNH]D OHNCO
>]HQG RLDO LHC[
G[TCO L LULDZWTLSLQD GD DLO ML[Y HZLTG GQ LWO OHJD C
IT[] UHD ZTW RNH TH]D QNH OSG PUKGQ LSLQZWTLUL]D
G]YZHGH OLCHG LSLQ PHL ON G[HTC FUHQG OHJD GNHTG GOWS HOLWC TH]G HD]N D
GUDO GOLJ]NOQ
CI[EGH GCSGD [TCS GQHZU RWHF PHZQ ]J] CYQSG LHSG PE D]N L UHGL LSW [WTD E
QQ H]YZQH G[HZQ H]YZQ [FJ [QHO FFY FHUH [DFD MNJ DNI GQO ]HNLOGD CDHQ
GUQO UL[NG RN G[UGD U [TCS CO G[HZQG PHZQD LHO]G LHSG GNHTN
PC PQYU PLKHLZN PSLF GNHTG LKHLZ ]C PLFLQUQG ]HNLTGH PLYUSG PCG ZW]TGO L F
OOJD PLJSHQG LHS LYWJD ZW]TGO L RNH CI[EGQ DL GNHTG [WT VHTD ]H[UGH PLZTW HCO
GNHTG UZ[ZD HOKLD JLK RNH PLJ[W OK[EC HC XLYU RHEN MNTD HC ]HSWFD COH GNHTG
KLI GQO ]HNLOG
O GYLDD GLC [CD]L GNHTGQ OFHD CGL CO GOLJ]NOQ GS]G
PL[QHC L GSHZ ZHSL]G "PUK GQ RHC[ DHK PHLD ZHSL]O HO CSUHG PFC GSZL OC C[LI LD[ [QC E
HSLCH FHUH L[ PLQNJ ]SZ]Q PL[QHC LH QJOH LJ DOHO PDQ[ GN CW RLHFZ C[U G[H]GQ GSHZ
HO HSLC DOHOD OHFEG CYL CYQS GSZQ
D[U
GNHT ]NTQ PHNLTO ]HDH]H ]HOC
ML[YH PLQL LS PLEGHS OHJD FDOQ@ RKZO R]LO [HTLC RLC HD CYLH OHFEG OKS [JCO C
RQFIL CQ RN ]HUO LCFN RLC HD]N PLSH[JCGQ LH >]HLOE O LS KHLD PE PNO
HJS[] GNOG [HCDD CDHQ HD ]CYO HO R]LO HSQQ ZDL FJC HO
HC RDN@ ULEGN ODC ]HKHUWG ]SHU O ULEG CO RKZD [DHFQ CDKL[GH R[G HD]N D
FHUH PDQ[GH GS]Q H]S]QH RLOKOKQD PL[JCO GCSZG [D CGL HO HSZ] L[G >UD
HJS[] GNOG [HCD U [DFD [LQJGO L PLSH[JC HD]NH PLZOHJ
DOHOG [HIJL RQIG ]HOND RWHCD ODEHQ RQIO DOHOG ]HSZGO [WC PCG PLZTHWG HZOJS E
RLSZ COO HLOUDO
FHUH CEQ HO PLSLQ UD[C OHKL RKZG RHC[ DHK PHLD FLWZGO ML[Y PCG HZOJS FHUH
DQ OLUO UH PLSHC[ GQNQ DSQG JLNHG RNH UL LFED OHCD VC [WC HC
IQ HQ PLWF
"]HN[DGH GNHT ]DLL RLSUO OHJD ][YU LSLQ RLF GQ KW
][YU LSLQD GNHT ]HYQ ]HFHC RSJHL LD[H ]OL [D OCHQ D[ O HSD GFHGL D[ HQD [TQ LWN D[ HZOJS
]N[D ]HFHC HZOJS ]JC RHO LWO P]ZHOJQ H[LWD ]HSHO L] HZOJSH LULD ZWT CHG OHJD
CO GLOU PLN[DQ RLC ONG L[DFO ][JC RHOOH GNHTD PLDHL ONG L[DFO ODC GI PHLD GNHTD DLO
GDLLG [ZLU OU COC HZOJS
L] LWN GDLLG RLSUO HC GN[D RLSUO@ LULDN HSLF RLC ][YU LSLQ RSJHL LD[N ZTW VTHL D[
M[DO CO ODC GNHTD DLO L C[QEG GZLTG GNOGOH >]H[HQCG ]HLH[WCG
M[DQ HSLC MND [NLG L H[QC GOLNC RLSUO CZHF GLDC[ D]NH FHUH VL[G ZTW RN
PLZOHJ LH Q CQZ GFHGLDUFHSGH PG[DCREQG ZTW RNH CQ[G CLDG RNH [HTC GNHTD RLO ODC
][YU LSLQD GNHTD RL GLG C[EG ]EGSGQ CLDG RNH GESZ PFC LLJ JT[] VTHL ]LD IK G[ CD[U
GNHTD PLSL RLC POHUG EGSQH DLYSG LHFJDH J[ RHOD UH ZTL[D ]LDD HFLWZG RNH
Y[ HOLCH ]LDD ][YU LSLQ OLOD OHNCO EGSQG ]C GJF P RHLYG [UDH HZT JT[]
LH OC[L LOHFEQ GQN HD HEGS GI EGSQ DLLO DLJ[G ML[CG ZFY DLQ T[KSHZD RGNG
GFHUTG [CH GNHTD GYLDNQ []HL PLONHCH PLFZQ ][YU LSLQ PHLD VC PLEGHS
PLSQIH PLFUHQ ]QC ]W IKZ QU ]HNHT LDY X[C CO FJ [IUOC ]JSQ ]HD PE UH ]LDD PLNLQQ
DY CJ
DSQ
]HNHTN HSLC ONG L[DFO PLZTHW PLSLQ F RLSUO RNH RHIQG ]N[DH HFLZ GOLW]D PHLG ]HN[D [C
IQ VF
"JTW O LULDDH ][YU LSLQD HSLJG ]N[D RQI PL[QHC PCG C Y
"HQYU LSWD OE[ ]HLGO ]HNHTG EJQ ][YU LSLQ ZHOJ PL[DF HOCD D
"CZHFD THNG OU ][QCS RQIG ]N[D PCG E
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