The Legends Are Bailing on the Market... For Good Reason By: Phoenix Capital Research Blog / Zero Hedge.com / January 9, 2014

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1 Adventist Heritage From: Charles E. Wheeling on behalf of Charles E. Wheeling Sent: Friday, January 17, :20 PM To: Adventist Heritage Subject: January 17, Enews from the Desk of Charles Wheeling Hi, just a reminder that you're receiving this because you have expressed an interest in Inspiration Books East. Don't forget to add webmaster@inbookseast.org to your address book so we'll be sure to land in your inbox! You may unsubscribe if you no longer wish to receive our s. January 17 / 2014 A Disclaimer: I want to keep my word with you. I know you understand that I receive interesting and timely news items from friends all over the world. Most of these items appear to have prophetic relevance; others are of particular interest in the field of Science, Health & Nutrition, Devotional themes and some touches of Humor. With a bit of hesitation, I am forwarding some of these items to friends like you via . My concern is this: some persons who will receive or read the items I choose to forward will assume that I endorse, approve or believe every "iota," and that I am endorsing the author or source. This simply is not true! As you read, you must be discerning, choosey, discriminating and use common sense. If you are going to quote someone, quote the source -- I am not the source, I am the reporter... CW The Legends Are Bailing on the Market... For Good Reason By: Phoenix Capital Research Blog / Zero Hedge.com / January 9, 2014 "The capital markets have become artificial with all risk being mispriced due to Fed intervention. "The problem with this is that when the capital markets 'break' due to a loss in credibility, the shift tends to be both swift and violent. 1

2 "I noted before that the yield on the ten-year Treasury is the basis for the pricing of all risk in the capital markets. With this yield being manipulated by the US Federal Reserve to the tune of $70 billion per month, the entire landscape for risk has become distorted. "This is not to say that there will not be substantial opportunities to make money in the capital markets going forward. Rather, I am stating that the capital markets will not be the safest, most stable places to do it. "Stanley Druckenmiller founded his hedge fund Duquesne Capital in From 1986 onward he maintained average annual returns of 30%. He also managed George Soros' Quantum Fund from During that latter period he famously facilitated Soros' 'breaking of the Bank of England' trade: the legendary trade which netted over $1 billion in a single day. "Druckenmiller closed Duquesne Capital in 2010, stating that he was no longer able to meet his investment 'standard[s]' in the post-2008 climate (he made money in 2008 before the Fed began to alter the risk landscape). "Seth Klarman is another investment legend who is returning capital to clients. Widely considered to be the Warren Buffett of his generation, Klarman recently cited a lack of 'investment opportunities' as the cause for his decision to downsize his legendary Baupost Group hedge funds. "Other legends or market outperformers who have returned capital to investors or closed their funds to outside investors are Carl Icahn and Michael Karsch. Indeed, even value legend Warren Buffett is sitting on the single largest amount of cash in the history of his 50+ year career as an investor, stating that stocks are 'fully valued' at current levels (Buffett largely does not believe in shorting the market, so his decision to be in cash is a strong indicator of opportunities). "These men are masters of the capital markets. They are voting with their feet and pulling their capital out of them." Click Here To Read It All Certain bits come my way. Some bits are provocative enough that I squeeze time to read them carefully and file some in my memory bank. "I have decided to share some of these bits with friends who d/care to read beyond the headlines. Casual readers don't need to go here...." --CW 2

3 Winds of War, Part II By: Martin D. Weill, Ph.D. / Money and Markets.com / January 11, 2014 "For the evidence, just compare the two maps below. "Last summer, I made it absolutely clear that peace in the Middle East was a pipedream. "I wrote: "'If our leaders and allies still think they have the power to impose their brand of peace and freedom on the Middle East, they need to check into an insane asylum.' "The first map shows what the region looked like about five years ago when the wars of Iraq and Afghanistan were still in full swing; the U.S. was still debating withdrawal; and nearly all American citizens voted for the presidential candidate they thought could do the best job of ending the conflicts. Click Here To Read It All Heart Attacks and Water! BBN Community.com / January 6, 2014 "Very Important. From A Cardiac Specialist! "Most heart attacks occur in the day, generally between 6 A.M. and noon. Having one during the night, when the heart should be most at rest, means that something unusual happened. "Water at bed time will also help prevent 3

4 night time leg cramps. Your leg muscles are seeking hydration when they cramp and wake you up with a Charlie Horse. "Recommended time to drink water and amounts..." Click Here To Read It All Click on these images for some great tools: Latest IBE Communicator -- Free LiveLink PDF Download: Also visit The Perfect Storm website: Many FREE Resources FREE MP3s FREE iphone-ready Presentations FREE Sabbath Sermons FREE ebook PDFs -- Visit today! 4

5 What a Year that Was! Buckle up... here we go again. Never a dull moment is a phrase that was probably invented by a soldier, a conscientious parent or a small-town doctor. Or perhaps it was coined by an evangelist who had a burden for souls. Whichever, we get the idea that, for anyone who cares, there is always something going on that demands our attention. Click image above to download a free LiveLink PDF report and read the rest of the article... Forward this to a friend This was sent to ahc@andrews.edu by webmaster@inbookseast.org Update Profile/ Address Instant removal with SafeUnsubscribe Privacy Policy. Inspiration Books East PO BOX 352 Jemison AL Spam Not spam Forget previous vote 5

6 The Legends Are Bailing on the Markets For Good Reason Submitted by Phoenix Capital Research on 01/09/ : The capital markets have become artificial with all risk being mispriced due to Fed intervention. The problem with this is that when the capital markets break due to a loss in credibility, the shift tends to be both swift and violent. I noted before that the yield on the ten-year Treasury is the basis for the pricing of all risk in the capital markets. With this yield being manipulated by the US Federal Reserve to the tune of $70 billion per month, the entire landscape for risk has become distorted. This is not to say that there will not be substantial opportunities to make money in the capital markets going forward. Rather, I am stating that the capital markets will not be the safest, most stable places to do it. Risk in general is being mispriced today. There will be an adjustment and all investment in the capital markets needs to keep this in mind. I wish to note that I m not alone in the view that the capital markets are offering limited opportunities. Stanley Druckenmiller founded his hedge fund Duquesne Capital in From 1986 onward he maintained average annual returns of 30%. He also managed George Soros Quantum Fund from During that latter period he famously facilitated Soros breaking of the Bank of England trade: the legendary trade which netted over $1 billion in a single day. Druckenmiller closed Duquesne Capital in 2010, stating that he was no longer able to meet his investment standard[s] in the post-2008 climate (he made money in 2008 before the Fed began to alter the risk landscape). Druckenmiller s key strength has always been macro-economic forecasting. That he would feel the capital markets were not offering him the opportunities he needed says a lot.

7 Seth Klarman is another investment legend who is returning capital to clients. Widely considered to be the Warren Buffett of his generation, Klarman recently cited a lack of investment opportunities as the cause for his decision to downsize his legendary Baupost Group hedge funds. Other legends or market outperformers who have returned capital to investors or closed their funds to outside investors are Carl Icahn and Michael Karsch. Indeed, even value legend Warren Buffett is sitting on the single largest amount of cash in the history of his 50+ year career as an investor, stating that stocks are fully valued at current levels (Buffett largely does not believe in shorting the market, so his decision to be in cash is a strong indicator of opportunities). These men are masters of the capital markets. They are voting with their feet and pulling their capital out of them. Given that their personal compensation is closely linked to assets under management and profit sharing, this decision is akin to the choice to forego additional wealth that could be made quite easily (none of these individuals would have trouble raising several billion more in capital) rather than trying to find opportunities in a challenging market. For a FREE Special Report outlining how to protect your portfolio from this, swing by: Best Regards Phoenix Capital Research

8 PrintFriendly.com: Print web pages, create PDFs 1 of 4 1/19/2014 4:44 PM Last summer, I made it absolutely clear that peace in the Middle East was a pipedream. I wrote: If our leaders and allies still think they have the power to impose their brand of peace and freedom on the Middle East, they need to check into an insane asylum. Indeed, with the benefit of hindsight, we can now look back at a decade in which foreign intervention did little more than foment chaos, revolution and more wars. For the evidence, just compare the two maps below. The first map shows what the region looked like about five years ago when the wars of Iraq and Afghanistan were still in full swing; the U.S. was still debating withdrawal; and nearly all American citizens voted for the presidential candidate they thought could do the best job of ending the conflicts. * Libya, Egypt, Syria, Lebanon and the entire Arabian peninsula were stable (green areas in map) * Iraq and Afghanistan were the only theatres of war (red), and * Iran was the only other country where long-term stability could be seriously questioned (yellow). So the focus of the U.S. and its NATO allies was strictly those three countries. And their only major challenge was to bring the troops home without leaving chaos in their wake. The Palestinian-Israeli conflict was raging, as always. But in contrast to the new wars elsewhere, that six-decades-old conflict was such a known quantity, one would be hard pressed to argue that it was a significant destabilizing factor for the region.

9 PrintFriendly.com: Print web pages, create PDFs 2 of 4 1/19/2014 4:44 PM In short, we had: Two, maybe three, conflicts to seriously worry about Moderate impact on the major world powers No broad threat to the global economy, and High hopes for future long-term stability. Now, fast-forward to January 11, 2014, and look how dramatically the picture has changed: This second map, updated through January 2014, shows how the litany of woes in the region is unprecedented in modern history 1. All the green areas (representing stability) have disappeared. In fact, the word stability is gone from the lexicon of any serious observer in the region; every country in the region is impacted internally and externally politically and socially in terms of trade, the influx of refugees and the stirring of pre-existing conflicts. 2. Egypt, Yemen and Pakistan are in various stages of becoming collapsed states, where the rule of law is virtually gone and chaos begins to reign. 3. Iraq s Arab Awakening, largely responsible for the end of its first civil war, is dead. In its place, we re witnessing a powerful resurgence of al Qaeda; and that resurgence has now brought the dangerous takeover of two major cities, which I wrote about last week. 4. Lebanon is sinking rapidly into a second civil war, which directly impacts Israel and other neighboring countries. 5. Turkey, a member of NATO, has been dragged into the madness, which, in turn, is exacerbating its own domestic political divisions. 6. In Libya, not only is their civil war being reignited between the government and a plethora of militias but it s also spreading from Libya to the south, west, east and broadly across the African continent. According to the Mideast Mirror, the security breakdown in Libya has been extreme: It is no longer possible to sense any form of authority that can be relied upon and that could lead Libya to the shore of safety and rid the country and its people of the militias of various

10 PrintFriendly.com: Print web pages, create PDFs 3 of 4 1/19/2014 4:44 PM forms and allegiances that now impose their law and authority alone. Libya is now hostage to outlaw forces, armed groups, thieves, and arms and human smugglers. These have transformed the country into a safe haven for terrorism, assassinations, intimidation, killings, and random extra-legal detentions. Worst of all, the sum of each of these mostly internal conflicts has now transformed the region into The Balkans of the 21st Century You see, until recently, most of the conflicts were primarily domestic. The threads of cross-cutting alliances were often tangled. Direct support by regional and world powers was either limited or hidden. So the danger of a great Middle East war was not an immediate concern. Now it is. And overlaid onto the geopolitical and economic rivalries is the most powerful mobilizing force of all in Muslim world the millennial split between Shia and Sunni, dating back to the death of Muhammad in the year 632: On the Shia side of the conflict are the regimes of Iran, Iraq and Syria plus Hezbollah in Lebanon and the Mahdi Army in Iraq. On the Sunni side are Saudi Arabia, Egypt, Turkey, Al Qaeda and its many affiliates I listed here last week. And right now, the central but certainly not the only battlefields of the conflict are Syria, Lebanon and Iraq. Former German foreign minister Joschka Fischer puts it this way: What makes Syria s civil war so dangerous is that the players on the ground are no longer its driving forces. Rather, the war has become a struggle for regional dominance between Iran on one side and Saudi Arabia, Qatar and Turkey on the other. As a result, the Middle East is at risk of becoming the Balkans of the 21st century But anyone who still thinks there s a wall surrounding the region which can contain such a broad regional conflict needs to check into the same institution as those who think they can fix it. Iran and Saudi Arabia are more than just regional powers they control massive resources that help power the global economy. All five permanent members of the UN Security Council the U.S., the U.K., France, China and Russia are heavily involved in the region. But unlike the conflicts of five years ago, the major world powers have drawn a line in the sand U.S. and its NATO allies vs. Russia and China. Unlike any time in the past, we ve seen U.S. and Russian battleships move into the area. And unlike any time in the past, the ECONOMIC consequences of the NEXT phase of this regional war are boundless, raising urgent questions for investors: How will it impact U.S. relations with Iran, Saudi Arabia and Israel? To what degree will it drive scared money into U.S. markets? When will that money also start flowing into safe havens like gold? What impact will it have on energy prices? Good luck and God bless! Martin and give me your feedback.

11 PrintFriendly.com: Print web pages, create PDFs 4 of 4 1/19/2014 4:44 PM Dr. Weiss founded Weiss Research in 1971 and has dedicated the past 40 years to helping millions of average investors find truly safe havens and investments. He is president of Weiss Ratings, the nation s leading independent rating agency accepting no fees from rated companies. And he is the chairman of the Sound Dollar Committee, originally founded by his father in 1959 to help President Dwight D. Eisenhower balance the federal budget. His last three books have all been New York Times Bestsellers and his most recent title is The investment strategy and opinions expressed in this article are those of the author and do not necessarily reflect those of any other editor at Weiss Research or the company as a whole.

12 PrintFriendly.com: Print web pages, create PDFs 1 of 2 1/19/2014 4:45 PM How many folks do you know who say they don t want to drink anything before going to bed because they ll have to get up during the night. Heart Attack and Water I never knew all of this! Interesting. Something else I didn t know I asked my Doctor why people need to urinate so much at night time. Answer from my Cardiac Doctor Gravity holds water in the lower part of your body when you are upright (legs swell). When you lie down and the lower body (legs and etc) seeks level with the kidneys, it is then that the kidneys remove the water because it is easier. This then ties in with the last statement! I knew you need your minimum water to help flush the toxins out of your body, but this was news to me. Correct time to drink water Very Important. From A Cardiac Specialist! Drinking water at a certain time maximizes its effectiveness on the body 2 glasses of water after waking up helps activate internal organs 1 glass of water 30 minutes before a meal helps digestion 1 glass of water before taking a bath helps lower blood pressure 1 glass of water before going to bed avoids stroke or heart attack I can also add to this My Physician told me that water at bed time will also help prevent night time leg cramps. Your leg muscles are seeking hydration when they cramp and wake you up with a Charlie Horse. Most heart attacks occur in the day, generally between 6 A.M. and noon. Having one during the night, when the heart should be most at rest, means that something unusual happened. Somers and his colleagues have been working for a decade to show that sleep apnea is to blame. 1. If you take an aspirin or a baby aspirin once a day, take it at night. The reason: Aspirin has a 24-hour half-life ; therefore, if most heart attacks happen in the wee hours of the morning, the Aspirin would be strongest in your system. NOTE: Consult a doctor before taking Asprin as it has many side effects. Specially, it weakens kidney like no other. 2. FYI, Aspirin lasts a really long time in your medicine chest, for years, (when it gets old, it smells like vinegar). Please read on Something that we can do to help ourselves nice to know. There are Asprin products that dissolve instantly on the tongue. They work much faster than the tablets. Why keep Aspirin by your bedside? It s about Heart Attacks.

13 PrintFriendly.com: Print web pages, create PDFs 2 of 2 1/19/2014 4:45 PM There are other symptoms of a heart attack, besides the pain on the left arm. One must also be aware of an intense pain on the chin, as well as nausea and lots of sweating; however, these symptoms may also occur less frequently. Note: There may be NO pain in the chest during a heart attack. The majority of people (about 60%) who had a heart attack during their sleep did not wake up. However, if it occurs, the chest pain may wake you up from your deep sleep. If that happens, immediately dissolve two aspirins in your mouth and swallow them with a bit of water. Afterwards: Call 911. Phone a neighbor or a family member who lives very close by. Say heart attack! Say that you have taken 2 Aspirins. Take a seat on a chair or sofa near the front door, and wait for their arrival and DO NOT LIE DOWN! A Cardiologist has stated that if each person after receiving this , sends it to 10 people, probably one life could be saved! I have already shared this information. What about you? Do forward this message. It may save lives! Life is a onetime gift

14 IBE Communicator PO Box 352 Jemison AL USA ThePerfectStormIsComing.org (205) January - (A) What a Year that Was! Buckle up here we go again. NEVER A DULL MOMENT IS A PHRASE THAT WAS probably invented by a soldier, a conscientious parent or a smalltown doctor. Or perhaps it was coined by an evangelist who had a burden for souls. Whichever, we get the idea that, for anyone who cares, there is always something going on that demands our attention. The past year was a steadily busy time for us. And honestly, that s just the way we like it. We ve had a constant supply of publications passing through our Community Mailing Program, as well as a stream of books flowing into North Dakota, our project of choice for light shining into lesservisited States in the Union. The mail carrier delivered many tens of thousands of books for us in Our supply of books to college campuses across the country is ongoing and will remain active until we can do it no more. Volunteers are still in the process of scattering light through our country s Halls of Learning. This is defi nitely a project worthy of support. My gift enclosed Keep it up! Name Address We are in the process of preparing our publication The Perfect Storm Is Coming! for distribution among the French-speaking nations on the planet: Europe, Canada, the Caribbean, Asia and parts of Africa. A few more months and this will be ready to go to press. Your prayers and support for this project are encouraged. As always, there is an endless supply of books being used by busy evangelists like yourself. Every day the phone calls come from eager souls wanting to take our books to some corner of the country or beyond. We are honored to have a part in the worthy work being done for our fellow man. Last year scores of Sabbath Sermons were added to the list of those available to watch 24/7 at ThePerfectStormIsComing.org. Also added to our website were several translations of our popular booklet What s Behind the New Community Mailing is still one of the most efficient, cost-effective ways of quickly scattering Good News across the United States English and Spanish. To arrange a mailing to any US Zip code, call Lary Petty: (205) The work which the church might have done in a time of ease and prosperity, she will be forced to do under the most forbidding circumstances. City State Zip Phone Cell Home Work Address Sign me up for the free Enews Service ( address required). World Order? including Greek and Arabic. If you haven t visited our site in a while, check it out today; there are many FREE tools available for your use in evangelism. This coming year we are expecting more than a million publications to pass through our doors, and hopefully many more will go directly from the press into the mail system. We already have a mailing plan laid out; now we just need the books. Part of the message carried by our books includes the blessing of the Sabbath Day. Without this Day of Rest we would be unable to recover from the onslaught of life and living. It s good to be busy. But it s also good to rest. This matters. So work hard but rest well. Thank you again for keeping us busy. IBE Inc. PO Box 352 Jemison, AL USA Your Mission World Family Please make checks payable to IBE, Inc., and indicate where you would like your funds used. All Gifts are tax-deductible. Accept my gift of $ Keep up the good work! Make a Donation Online: Click Here Card # Expires: / / Security Code: Contact Us at the Above Address Regarding Information in this Bulletin

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