[HTLC LFLQ HCLYHGO PFG ]ZL[I GOLUHG L[ ]KLOH GOLUQ LFLQ HCLYHGO RQO PE GOLUHQ HQF
GYZHG LSWQ G[H]G RQ RQG [HTC H]KLO PE PSQCH IL ]HNQD GZL[I PFHZ PLFZ ]OLNC
QQH OTWS EHOG [TJSQ L[G PLFZ FTWG PHQ FHUH >GUD ON EH[]CQ U[E COH@ H]HHYQO
D[HUQ WUCH@ H[L]GO PCG PF OLUHG GOLUQ [HTLCH GZL[I PFHZ PLFZ ]OLNC [HTLC RLSUO
PLFUHLQ RL[HQLC PGD L WUC GOLUQ PGD RLC PLOZ PLFZN GI L[G GHDEO GOHU RQ HD
PLFZ RLFN GZHO HL]HS]Q R]S CO FHU ON PFG ]ZL[I [JCO PE PDQ[G ]KLOH >GHDEO ]HOUGO
PCG PFD GOLUQ LFLQ CYL PLQNJ ]UFO HOLWCH GZL[I LSWO
OSNH RLLFU H[]HG CO L[GH G LFZ OONQ HCYL GQD [W COH
[L]Q DJS RQG R]Q COG LD[ON HL]HS]QD PLOEWQ RLC PLQNJO UHFQ GZL[I LSWO PLFZN C]L[HCFQ [HTC PC GZGH
GOLUQ LFLQ CYLH PFG R]QD ]YZQD []HG [DN RHLN [QHO ML[Y D]NH >X[L] COH ]QC ]WD GQ] RNH@ PFG ]ZL[IN
OEWO DHJ HSLC
LSWD CDG EHO L[G "C]OLQ CG LN CQLO VTHL D[N CD[ C[DE [QC GLQ[L LD[F GLQZ GH[QC
PCG PU CDD COC L][QC CO LSC VC CLS]F GLO RLOEWQ COH GLO H[ HL]HS]Q UNOF HQYU
RWHC OND OHELW PHQ HLOU PLDLLJ RLC PLQNJO UQQ C]LL[DG RHO ]QL]TQ CLG CLHZG
ZHOLJ RLC [JC RWHCD VTHL D[ L[DF [WO P D]N POHCH L[WO ]QC ]WD [W RN HL]HS]QD OELW PC HOLWC
PFG ]ZL[ID OELW RLDH RQG ]HS]Q ]UD OELW RLD
[]HG RO UQQZ CLG GOLDS CSLQC M]UF CZOT VHUG ]CKJ ]HD[O P]CKJ ONOH DU
EO ]HQDLD [CHDQN GOLDS PHQ GZHO VHUG ]CKJ ONC [I ODC PLSGNO CZHFH PLSGNO
Z[H@ GOLDS PHQ RLZHO OHTW RD[Z HC VHUG ]OHU RHEN GOLNC RLF PGO RLC [CN PLSGNG PEH
]CQHKH GOLDS [HTLC RLD PLZHOLJ GD[G HSLYQH [NG M[FD GUS LSWQ GOLDSN HSLC GCQHK RLSUO
FI DJ [IULJC ]HD GI OND U >GOLDS
RHH]C U PLSGNO G[]HG COC GLOU GOLDS P COC GKLJN PLFZ ]ZLOQ O G[FE RLC PLSH[JC HJLNHG GIQH
CL L RLOHJ DZUL ]HOGZ C C]L[HCF
FJHLQ LHDL[ ML[YH U[HYQ PCN [LIS PC ]HD[O COC "GLD DL]N CLFGD U[HYQ PC
ZOJO L LN G[WNO CD HSLC PEG RGNO R]LS U[HYQ PCQ H]HC PLFQO HSLLG COH [LIS PCO
G[HC R[Z G[GK ]H[LIS ]HSQO COC HSLC [LIS PC RLDO [LNGO CD CHG GI RLD
GQ VF
]HNQ ]NTQO [SO MH[U [WT ]QFZGQ CS RL[FGST ]UF VTHLD CDHQD U
"CJLQO C]NOG
GCQHKD PLFZ ]OLNC L[HTLC GI OOND CQKH PHQ RGLOU RLDLLJ RLC PLDNHN LFDHU LFZ
VHEG ]CQHKQ GOZ CLG [D ]CQHK RG >PHNU LFZ ]OLNCD [GIHQ CQKG RLC@ VHEG ]CQHK RG
GFH] JDI HK OLUOFN PHNU LFZD GCQHKD GFHDU GI OOND RLC ODC [QHJHOZD ]FQOSH
HZ
GQ VF t PLJDI
G[H] L[DFH [DFG PUK C[QED [HWQ RLC DLLJQ LTHL [ RHUQ [ L[DF [HKW XHJD RKJHGH
M L ] bO bU GOU] RWQ KULQ RHUQ [ [HWQ DNU GC[ L[WTD [JC PHZQD PL[LUH PQHZQD PLLSU
RLC X[CO GYHJD PHNUG LFZG PC GIQ PLKUQQ ZOHJ LTHL LD[O VCH@ PHNU ]OHU COH
PE [HTC RSD[FQ GC[S PSQCH OC[L X[CD LFZGD COC HZOJS CO H]HOUGO OC[LO [HTLC
UU ELDL GC[ GQNJ MQ LWU >GFH] JDI OHJD LFZGN
ZGUQ OG VHT L[IU LDC [WTD HLOU [LUG GQD UH [JC PUK R]S C ]YDZHQ GKLDH
IC PLSWD HDL[ZGO ]SQ OU PHNUG LFZGN COC RCN HSF CO FLCQ CQZ PLFZ LC RHIJD D]NH
PHNU ODC XHJD HGOUQG OC[LO ][N DHLJ L PC PLCS]G HZOJSH OHTW RD[ZG XHJD HDL[ZG PC
COC XHJD HDL[ZGO XHJ FYQ [HTLC RLCH H]HHYQ CLG MN XHJD HDL[ZGO OLDD RD[Z LFZG
IKZ ROGOFN RULLTO [HTC QQ
HKJ WUC PHNU RD[Z GKHW GJSGN P KZS MNOH GI ZHOLJ [DHT HSLC GC[SN ]HSD[ZG GUQ OG VHT L[IU LDCDH@
CHG KHULQG ON CYQS GI LWO GQ]H GQDD DL[ZGO PHNUO []HQ L[G MND OTWS RD[ZG RLC XHJD HDL[ZGH OC[L
>]HHYQ UD OOND XHJ LKHJ [HTLC RLC COG [HTLCGQ PHNU KUQO ML[Y UHFQ GQL] RN PCH GOHUWG [HTLC RLSUO Z[
FQOQH [IHJ GHG[IED FQOG [DFH GCQHKQ OHOLJ OHOLJ []HS L]CH []HSQ RHU RHU L]CF
L]CH GF FQ OLUO TH]UH S ROGOFN GHG[IED
LZGO ]H[WC LN PHZQ OND COG [HCD ML[Y RLWS LSGH "OHELWQ RHU RHU VOLOH DU
OU GZQG ]NLQT [ZLU [WO ML[YH "GH G[IED RNH RSLZQ C[QHJO COHZOH C[QHJO
CZU[ ZQK MHQTD [QC RLWS LSG ][DT
]HC[W[W
PLFZ ]KLJ TD GLH[Z PLJDI ]NTQ LS]O CO PLFZ ]KLJ ON G]UQ COC
CDHQ PLSHC[D RNH PLJDI PHZQ PHD TD GSHNQ GSLC GC[SG LWNH GZ ]HJSQDH CS RL[FGSTDH KZ
PLFZ ]KLJ PG ]HD[
HS FL ]D JO CO DN H ]HN[DD RLOHJ ]KLJ RLOHJ ]NTQ ]HSNO PLD[ ]HQHZQD L[ OLE[ RN HQN
L[ ]HQHZQ GQND HSLYQ PSQC PLSHC[ [CH FHUH O GNHT IU CQHLD TH]G RNH PLD[ GSGNH IZ
LHKLDG RNH GN OLUO KO IU JY HY RL[FGST ET ZD GQ [LIS GS GNHT CW RLDH[LU RLOHJ P]T PE GO C[HZ
FHUH KL ]D CS KQ IK ]HN[D L[D GD[G JHH[ PLJDI ]NTQ
QDDH RCN
OLFDGO LFNH RLOHJ ]KLJ PLFZ ]KLJ C[QED PLULWHQG PLCOQG PGL]HQO [HYLZ PG RLOHJ H PLJDI ]HQ GC[SNH
PLJDI COC PLFZ PLFZ ]KLJ ]NTQ ]C HSLN CO [FTG PQ
ON ]HJSQ VHTD H[QC HQN ]LU HOLCN [N ODZ GL[FG LFL OU [N ODZH H[F COC
UD [CD ]QFZG LWU HNH ]CKJ DL[ZG HOLCN ]CKJ ][H]D ZTHUG
HOLCN DH]NG PGLOU GOUQ PFHQLO LU L[G GIG RQID PLEGHSN PLDJS PLFZ ]HNOG GUD[CD GF FLZ QD L[ UH
FZQD PLDL[ZQ
IZ
]UF VTHL
[HDYG OU TS[W H]HSQO LHC[ PNJ COC HFHDNO GFSQ RLC PLFQO HSLYQS
CO LWO CJLQO C]NOG LZHWCO PLEGHSG PLSLSUD FHQO]G ON FQO FJCG PLCS] HD HNL[YGH
]H[GK [FT [Q LS] CO HGLOC HO [QC GHDC [D GD[H MN ON FHQOO PGLFL OLJ LSC ON HCYQ
[FT ]LKQ LN VTHL D[F GL[D CJC D[O LC D[ HO [QC LQS P]GH FLZ QD ODZQG Z[WD C]LCFN
ODZH H[F PHQ COC P]HC PLT[HE RLCH PLEGHS PGG PLSLFG RLC RHLN FHUH LO LZC C] PLFZ
LHC[ PUFL CO LW OU VC J] LCQ ]LD Z[W PLJDIDH CS RL[FGST ]H]LQ F Z[WD C]LCFN [N
EO CJ XD] TS[W H]HSQO CHG
HSL]W PL[W GQOSH
[LCGQ PGL]H[HC HQ]TS P]HULDZD GHFZG L[FT ONH D[JSH HFZG RLSDG T[GS LW OU VC
GUHDZG ]LQLSWG GHFZG GII CO P]HTN PLC ZH ]H[FZ PLQ LDOC POHUD
OC[LO ]FJHLQG GHFZG GWG JN CHG UDHS GSQQ ]LOC[LG GQSG O G]HLNH]D
[]HLH [NLS []HLG GUQG FUD PE RLQHO] ]HLGO LFN FU MN ON GWL CHG GI JNH G]HFZD
PL[WG RD[Z CHG H]HLQQD [NHQ []HLH OHFE []HLG RD[ZG HQN GOHUWD [F]TQ H]HLGD ZIJ
LQLSWG H[HLYH H]LHGD OUHW HSO FJHLQG HFZG [HDLFG JN HSL]WD PLQOQ HSC H]HC PE
]QEHF G]HLQLSW FYQ GLHGG ON ]CH PLQOHUG ON ]C RFUOH ]HOUGO FHZQG RLSUG H]HC ]C
LQLSWG FHDNG [YHC OU VTHS ]QT[HWQGH GLHOEG P]HFZH P]HKW]GD ]HSD[ZG HOUW GQ
DTZ QU GLC[ ]OHU MH]Q PQU [HZQG
HQ VF
PLSHLYH ]H[UG
OU H[F GID CYHLNH ZQKH L[U HOOJL F FQOG ]OWNGQ [F [DFQ DH]NG RLOHOLJ LSD
RLHFZH HN GKHTH FQ ]HQDL L[UH HT RL[FGST OOZ] OZ] RNH G G[HQ] RLOHOLJ LS HU[I OOJL CO
HSLLG GF IS ROGO TH] UUH GU
]DJS G[WNGH G[WNO R]LS PFG FHQLOG [W LQ L GOLUQO COH HL]]S G[WNO [WNO
GLJ CLGN PLFZ ]QGD PF ]CI ]QHUO@ GOLUQ HD MLL RLC MNOG GHDE M[HY GSLCH PFCG M[HY
LWU >G]HLJGO GQGDG M[HYO COC PFCG M[HYO FQHU HSLC IC L[G TH]U DL GOLUQDN HD RLOUHQ
PL[DF GQN DLL GIDH DGQ ZJYL [NI
RLCDG RLDH]N LS GSHGN LFEDH RFG ]QH[] LHGF PHQ HD RLOUHQH H]HYQ ]LUS [DF MO RLC
OND G O L U Q RLF PLLZ RHOG ]HKWQ UQQ LN PC GWH[U GOEUH RFG ]QH[] FJCN
L[G CZHFD GSLC HI RHO CL]C GF EL GOLUQD HD]N DHLNH KS CQHLD TH]D HFFY [DN PL[DF P]HC
JZ