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8/9/2019 TXFCM

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8/9/2019 TXFCM


8/9/2019 TXFCM


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8/9/2019 TXFCM


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8/9/2019 TXFCM


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]e`s` ns` }es`` ``f}jnd oafjm`sn}jaf we`f mòjmjfgbajf`sz las n cau2 lpfo}jaf$ òafakz nfm }zd`& Ni zaps}e` cau j las& N cau' lpfo}jaf wjdd ppnddz e`dx m`}`skjfxsjn}` }zx` al bajf`sz las }e` xsabò} cn`m af eaw kpoejf|ad|`m %òafakz* nfm af }e` daai zap's` }szjfg }a %}zd`*& N onsx`f}`s' }aadcau as n cjsmeap` ma`f'} s`nddznfz}ejfg kas` axej}jon}`m }enf cp}} bajf}& Ij}oe`f oncjonp` zap g`f`snddz f``m ~pj}` n l`w al }e`k$ ns` w`dd+

8/9/2019 TXFCM


8/9/2019 TXFCM


Kj}`s bajf}

Ca}e cp}} nfm sncc`} bajf} eaw `fm gsnjflsak af` jm` al }e` oasf`s& ]a n|ajm }ej as}a onssz n mòasn}j|` `mg` nsapfm n cau$kj}`s`m oasf`s onf c` p`m %`` ljgps` 0c`daw*& M`x`fmjfg af }e`js jr`$ kj}`s onfc` op} af n kj}`s nw$ n djmjfg oakxapfm+kj}`s nw as af n }ncd`nw&

Af }e` }ncd`nw$ J `} }e` cdnm` n} =0¸ %lasn laps+jm`m cau* nfm op} }e` kj}`s wj}e}e` cau jm` dzjfg ldn} jf n }nfmnsm djmjfgosaop} bjg& ]a `fps` }en} }e` s`pd}jfgbajf} j s`nddz :8¸$ J op} kn}jfg `fm al nbajf} af axxajfg lno` al }e` cdnm`& ]ej

wnz$ jl }e` cdnm` j n endl al n m`gs`` a|`s aspfm`s =0¸$ j}' knm` px las wj}e }e` op} af}e` òafm cansm&

Cònp` kj}`s op} dnfm ak`we`s` c`+}w``f `fm gsnjf nfm dafg gsnjf$ }s`fg}e`f+jfg }e`k kni` `f`& ]e`s` ns` knfz wnzal majfg }ej$ cp} }wa al }e` }safg`} nfmka} n}}sno}j|` wnz ns` }e` p` al xdjf`nfm al i`z %`` ljgps` < nfm 7 c`daw*&

Las n xdjf`m kj}`s$ n gsaa|` f``m }a còp} c`las` gdpjfg px }e` bajf}& ]a ma }ej$ Jldjx }e` cau jm` a|`s jf }e` osaop} bjg a}en} }e` kj}`s j lnojfg mawf& ]e` cdnm` j}jdd `} n} =0¸$ wejoe j :8¸ }a }e` kj}`s& Jdaon}` }e` gsaa|` n lns }awnsm }e` jfjmòasf`s al }e` kj}`s n J nl`dz onf %}ep nd+dawjfg las n wjm`s xdjf`* nfm odnkx n }axcdaoi jf xdno` a }en} ca}e xjò` wjdd c`gsaa|`m jf }e` nk` xa}& ]e`f J bp} xn

}e` cau jm` a|`s }e` cdnm` %`` }e` xea}an} d`l} c`daw*&J op} xdjf` `j}e`s lsak xdzwaam as adjm

}aoi& J p` xdzwaam xdjf` las kndd`s asxdzwaam cau` afdz cònp` }e` xdzwaam wjdd fa} ka|` wj}e oenfg` jf epkjmj}z& We`f pjfg adjm xdjf`$ J ndwnz asj`f}}e` gsnjf jf }e` nk` mjsò}jaf n }e` gsnjfal }e` cau jm`& ]ej wnz$ }e` xdjf` ka|`

wj}e }e` cau& J}' nda n }safg`s oaf}spo+}jaf& @|`f }eapge n xdjf` j lsngjd` c`las`j}' jf}ndd`m %cònp` j}' n d`fg}e al x`s+x`fmjopdnsdz asj`f}`m$ eas}+gsnjf m waam*$afo` j}' jf }e` onson`$ }e` xdjf`' gsnjfcsjmg` }e` kj}`s& J ndwnz }`}+lj} }e` xdjf`

Op}}jfg }e` gsaa|` las n xdjf` jf n kj}`s bajf} j jkxd pjfg n odnkx`m }ax cdaoi jfn djmjfg osaop} bjg& ]e` }ax cdaoi fps` }en} }e` gsaa|` las }e` xdjf` j xaj}jaf`m jf}e nk xdno jf ca}e cansm c`jfg gdp`m }ag`}e`s&

c`las` gdpjfg$ oeòijfg `xòjndd}en} }e`z ns`f'} }aa m``x las }e` gsa

Nfa}e`s wnz al }s`fg}e`fjfgbajf} j }a gdp` jf xdjf` as i`z nbajf} nl}`s }e` kj}`s en c``f gdp`m %`` ljgps` 7 c`daw*& ]e` gsaa|` bajf} onf c` op} af }e` }ncd`nwsap}`s as cz enfm&

Las kndd`s cau`$ J p` n jkxdòdnkx }a kz }ncd`nw' osaop}

}en} eadm }e` cau jm` px n} =0}ncd` %`` }e` xea}a n} sjge} c`dawcdnm` e`jge} n} ncap} }wa+}ejsm }ef` al }e` bajf}$ a J afdz en|` }a }e` i`z af }e` ap}jm` al }e` cau& ]

]e` np}eas' bjg las op}}jfg g las i`z odnkx sjge} jf}a ej cau& Las cau` }en} lj} nl`dz jf}a }es`` i`z xsa|jm xd f}z al }s`fg

LJGPS@ 02 Kj}`s`m bajf} daai kje`m# g`f`snddz }enf oasf`s w

xa m `fm gsnjf$ cp} kj} s }sjoij`s }a op} xsòj`dz$ wejoe j os}e` bajf} j }a oda` px fjo`dz&

LJGPS@ <2 N xdjf`m kj}`s bajfjm`sncdz }safg`s }enf n jkxd bajf}& We`}e`s xdzwaam as adjm p m las }e xdjf $ dafg gsnjf csjmkj}`s nfm n dafg+gsnjf }a dafg+gsnpslno` ns`n s`pd}&

LJGPS@ 72 I`z`m kj}`s bajfxdjf`m kj}`s$ ns }safg`s }enfkj}`s bajf} cònp` al }e dafg+gdafg+gsnjf gdp` pslno`& ]e` i z` bajf} j gdp`m px n n jkxd` kj}nfm }e`f gsaa|` las }e` i`z nsòp} as sap}`m& ]e` i`z ns` op} a|nfm }e`f }sjkk`m ldpe nl}`s }e`zjf}ndd m nfm }e gdp en } px&

8/9/2019 TXFCM


I`z`m kj}`s ”]wa jm` al nf cau %nca|`* eaw eaw n}}sno}j|`kj}`s bajf} onf c`& ]a sap} i`z jf cjg kj}`s`m onson` %d` l} *$wj}e n jkxd` bjg&

}e`s eadmjfg }e` cau ljskdz jf }e` bjg asodnkxjfg j} jf$ J xn }e` `f}js` `}px a|`s

}e` cdnm`& Cònp` J afdz p` }ej `}px lass`dn}j|`dz fnssaw cau` %msnw`s nfm poe*$J op} }es`` i`z gsaa|`$ wejoe kni` xaj+}jafjfg al }e` bjg }snjge}laswnsm2 af`gsaa|` `~pjmj}nf} lsak `j}e`s `mg` al }e`cansm nfm af` jf }e` o`f}`s&

Dnsg`s cau` s`~pjs` kas` pxxas} las nnl` op}$ nfm `|`f }eapge dnsg`s bjg onf c`knm` las }e` }ncd`nw$ j}' nl`s nfm kpoe

kas` noopsn}` }a i``x }e` wasixjò` }jddnfm ka|` }e` }aad”jf }ej on`$ n sap}`s+

a|`s }e` wasixjò`&J knm` }e` lju}ps` jf }e` xea}a n} d`l}nca|` a }en} J oapdm sap} gsaa|` jf n oe`}al msnw`s wj}e kj}`s`m oasf`s& ]e` bjg jo`f}`s`m af }e` oasf`s al }e` onson`$ n}=0¸ }a j}$ nfm j pxxas}`m cz nfgd`m cdaoipfm`sf`n}e j}& ]e` wead` lju}ps` j odnkx`m}ag`}e`s nfm }a }e` onson`& ]e` da} jf }e`lno` al }e` bjg ns` jr`m }a lj} kz xdpfg`

sap}`s }en}' ap}lj}}`m wj}e n }gpjm`& Pjfg n }snjge} cj}$ J sap} nosa }e` oasf`s&

J xdnf` }e` i`z$ a }e`z's` bp} }e` oasf`s al }e` cau nfm }e`f gdp`}a xdno`$ dafg gsnjf nosa }e` oasf}e` gdp` en `}$ J op} }e` i`z f`n

wj}e }e` onson` nfm xdnf` nfm i`z x`slò}dz ldpe& Cz pjfg n oa waam$ }ej bajf} onf c` knm` n}}s w`dd n }safg %`` }e` xea}a n} sjge}

_adjm+waam oasf`s las e``} gaam We`f cpjdmjfg n onson` al xdzwaam as

ak` a}e`s e``} }aoi$ j}' xajcd` }a p`n adjm+waam oasf`s nfm n }afgp`+nfm+gsaa|` bajf}& Gsaa|` ns` g`f`snddz op} jf}a}e` adjm oasf`s wj}e n }ncd`nw as sap}`s$nfm }e`f }e` oass`xafmjfg }afgp` ns` op}jf}a }e` xdzwaam as xns}jod`cansm jm`& J}'nda xajcd` }a }`faf }e` e``} }aoi jf}a}e` adjm oasf`s n} lpdd }ejoif`& ]e` bajf}j gdp`m a|`s }e` lpdd d`fg}e al }e` oasf`sxjò`$ wejoe j asj`f}`m wj}e j} gsnjf spf+fjfg ndafg j} d`fg}e %`` ljgps` 5 c`daw*&

]ej }zx` al bajf} j fa} pj}ncd` las adjm}aoi$ eaw`|`s$ cònp` }e` oasf`s kp}

c` asj`f}`m d`fg}ewj` jl j}' }a en|` nfz}s`fg}e& Wen} zap'm `fm px wj}e jl zapgdp`m jf adjm xnf`d las }e` lpdd d`fg}e al }e` oasf`s wapdm c` n osa+gsnjf oaf}spo+}jaf s`pd}jfg jf `j}e`s n lnjd`m bajf} as nosnoi`m adjm xnf`d&

Cz pjfg nf a|`sjr`m oasf`s cdaoi$ zaponf nmm n mòasn}j|` `d`k`f} }a }e` cau$enxjfg n c`nm$ c`|`d as sapfma|`s jf}a }eòasf`s& Nda$ zap onf oeaa` }a d`n|` }eòasf`s cdaoi xsapm al }e` onson` jm` asnfm j} ldpe }a }e`k&

Jl zap xs`l`s }a i``x }e` oasf`s cdaoijfoafxjopap %ldpe wj}e }e` onson`jm`*$ j}' c`}}`s }a op} }e` gsaa|` jf}a }e`xdzwaam jm` nfm op} }afgp` jf }e` oas+f`s xjò` }a i``x }e` bajf} }safg& ]en}

wnz$ }e` oasf`s cdaoi j fa} w`ni`f`m cz}e` axxajfg gsaa|` oakjfg }aa oda`dz

}a af` nfa}e`s&Cjopj} oapdm nda c` p`m }a bajf }e` oas+f`s }a }e` onson` jm`& ]ej fa} afdz wapdme`dx ndjgf }e` bajf} cp} nda wapdm xsa|jm` ndafg+gsnjf }a dafg+gsnjf gdpjfg j}pn}jaf&

LJGPS@ 52 _adjm+waam bajf} onf c` p`m wj}e xnf d al xdzwaam as ak` a}e`s e``} }aoi }a os`n}` }safg$ n}}sno}j|` cau+ al ndka} nfz jr & ]e oasf`s cdaoi onf

c` a|`sjr`m nfm sapfm`m a|`s %n j} j e`s`* as enx m jf ak` a}e`s wnz& As j} onf c }e nk }ejoif n }e onson jm a }en} j}' d fa}jo ncd &

Kas}j` nfm }`fafKas}j`+nfm+}`faf bajf} onf c` onson` oaf}spo}jaf we`f }e` jm` ns fa} ldpe n} }e oasf`s& Nxd` al }ej wapdm c` n oe`} al ms

wejoe }e` jm` ns` }`faf`m jf}a jf }e` }ax&

Kas}j` onf c` op} jf n |nsj`}z Oeaxxjfg }e`k cz enfm wasi`m w

LJGPS@ :2 Kas}j`+nfm+}`faf bac p m }a bajf onson we f | s ns`f'} gajfg }a k``} ldpe n} n oasf

bajf} onf c ejmm`f as ùxa m$as fa}& ]e bajf} e`s $ wj}e j}w`mg`m+} faf$ j n gaam bajf} jf }jaf we`s }s`fg}e j f``m`m cp}`sz jf'} }e `kxenj&

8/9/2019 TXFCM


l`w o`f}psj` pf}jd akàf` }sj`m msjddjfg}e`k ap} ljs}& Wj}e n l`fo` af n msjdd+xs`}ncd`$ noopsn}` kas}j` onf c` msjdd`m ap}~pjoidz pjfg n csnm+xajf} cj}& ]e` oasf`sonf }e`f c` ~pns`m as }e` }`faf xns`msapfm }a kn}oe }e` kas}j`&

Xdpfg` sap}`s$ eaw`|`s$ ma n c`}}`s bac wj}e }ej bajf}& Wj}e nf noopsn}` }`kxdn}`$ zap onf sap} ndd }e` kas}j` n} ùno}dz }e`sjge} xa} }a n xsòj`dz pfjlask m`x}e&

Nf jkxsa|`k`f} af }e` kas}j` nfm}`faf j }e` nmmj}jaf al n w`mg` %as w`mg`*

jf }e` }`faf& ]e` w`mg` os`n}` xs`ps af}e` wndd al }e` kas}j`$ gj|jfg }e` bajf}ak` kòenfjond }s`fg}e jf nmmj}jaf }a }e`}s`fg}e al j} dafg+gsnjf gdp` pslno` %``ljgps` : af }e` lnojfg xng`*&

Jl n w`mg`m+}`faf j nda n }esapge+}`faf$n }e`z al}`f ns`$ }e` w`mg` nmm |jpnd jf+}`s`} }a }e` xjò` n w`dd& J}' jkxas}nf}$}eapge$ }en} zap maf'} xaj}jaf n w`mg`m+}`faf }aa oda`dz }a }e` `fm al n cansm c`+

onp` }e` eas} gsnjf af }e` ap}cansm jmàl }e` kas}j` oapdm `njdz cs`ni&

Lps}e`s s`nmjfg

]ng` Lsjm ]`noe` Waamwasijfg2 \adpk` jf Af`$ Pfncsjmg`m %Banfm _enxjfg$ \`f``sjfg$ Ljfjejfgoakcjf`m*$ ]e` ]npf}af Xs`$ >:

Ljf Waamwasijfg af Bajf`sz$ ]e]npf}af Xs`$ >:50&

Ljf Waamwasijfg af Cau $ On

nfm Msnw`s$ ]e` ]npf}af Xs`$

Ljfg`s bajf} nfm ma|`}njd Ljfg`s bajf} nfm ma|`}njd$ cònp` al }e`jsdnsg` dafg+gsnjf }a dafg+gsnjf gdp` pslno`ns`n$ ns` }e` }safg`} bajf} jf n waam+

wasi`s' onson`+cpjdmjfg s`x`s}ajs`& ]e`zns` nda fjo`+daaijfg& Jf }`sk al nxx`ns+nfo`$ ca}e ns` c`} op} jf adjm }aoi$ }eapge}e`z'm wasi `~pnddz w`dd jf xdzwaam&

N }ncd`nw as sap}`s bjg j }e` ka} `llj+oj`f} k`nf al noopsn}`dz op}}jfg nfm xno+jfg ljfg`s bajf} %`` ljgps` >8*& J p` n mnma`} af kz }ncd`nw wj}e n eax+cpjd} bjg%las jflaskn}jaf af n jkjdns `}px$ ``LWW /5:$ x& 7=*& N sap}`s }ncd` nda wasi&

Jf nmmj}jaf }a en|jfg n dnsg` gdp` pslno`

ns`n$ ma|`}njd nda xa` n gs`n} m`gs`` al kòenfjond }s`fg}e jf af` mjsò}jaf&]esapge+ nfm endl+cdjfm %dnxx`m* ma|`}njdns` }e` ka} oakkafdz p`m }zx` al ma|`+}njd las cpjdmjfg onson`&

]esapge+ma|`}njd onf c` op} jf n |nsj`}zal wnz& Dnzjfg }e`k ap} cz enfm nfm pjfgn ma|`}njd nw nfm oej`d j }e` }jk`+eaf+as`m nxxsanoe$ cp} }e` ma|`}njd+lju}ps`kni`s ns` ~pjoi }a }`dd zap al }e` `n` nfmx``m wj}e wejoe zap onf noej`|` x`slò}

s`pd} pjfg }e`js xsampo}& J}' n kn}}`s al xs`l`s`fo`$ s`nddz$ nfm al eaw knfz zap'ddc` op}}jfg& Lpsfj}ps`kni`s wea op} ma|`+}njd mnjdz onf op} ma|`}njd las nf `f}js`msnw`s jf d` }jk` }enf j} }ni` }a s`nm }e`knfpnd las af` al }e` lju}ps`& Cp} afo`

zap's` a|`s }e` d`nsfjfg ops|`$ j} ma`f'} s`+

nddz }ni` }en} dafg }a `} px af` a}ps`$ `xòjnddz jl zap en|` mar`f`s }a ma|`}njd& Jf `j}e`s on`$ kni`ma|`}njd ns w`dd+xno`m$ `fmjfg #xjf n} }e` oasf`s las gs`n}`} }s`fljgps` >> c`daw*&

Endl+cdjfm ma|`}njd ns` gaam w wnf} }a ejm` }e` bajf`sz lsak af` zap }jdd wnf} }e` }s`fg}e al ma|`ljgps` >3*& Msnw`s lsaf} ns` }e` kap ùnkxd`& Maf` cz enfm$ }e`z

af` kas` knsijfg gnpg` `}px nkas` oej`d wasi& S`gpdnsdz xnocdjfm ma|`}njd onf nda c` sap}`skas` jflaskn}jaf$ `` LWW /::$ x

Gnsz Sagawij }`noe waamwa}e` As`gaf _oeaad al Ns} nfm Osn

Oeaajfg nf nxxsaxsjn}` bajf} las n cau j n kpoe n kn}}`s al x`safnd }n}` n j} j nf `fgjf``sjfg mòjjaf& Cau jf }e np}eas' eax jfodpm n msnw`s l n}psjfg$ }esapge+

nfm endl+cdjfm ma|`}njd$ n jkxd` sncc`}`m xdzwaam cau nfm }es`` ljfg`s+bajf}`m cau`&

LJGPS@ >82 Ljfg`s bajf} ns nfm n}}sno}j|` wnz }a bajf n cau& ] gdp` pslno` ns`n xsa|jm` n gs`n}s`fg}e$ nfm }e` xdnz al djge} af jfg `mg nfm `fmgsnjf kni }e`jfg }a daai n} n w dd&

LJGPS@ >>2 Ma|`}njd ns }e onson bajf} nfm }esapge+ma|`}e jkxd } ma|`}njd }a op}$ weenfm as wj}e n lju}ps nfm sap} bajf}' kòenfjond }s`fg}e$ dnsg` lno ns n nfm j} s xp}n}jaf n cenddknsi al n osnl}knf kni` j} fjnd ln|asj} `|`f jf j}pn}jaf w}s`fg}e knz fa} c` fò`nsz&

LJGPS@ >32 Endl +c d jfm $ as dnxx`}njd ns` n gaam adp}jaf we`f zap}safg bajf} cp} maf'} wnf} }e ba}`nd }e` eaw& ]e`z's` nda }emsnw`slsaf}+}a+jm bajf}$ nfm jf

jfg waam$ }e`z ns |`sz n}}sno}j|

8/9/2019 TXFCM


Ms`jfg px n Cnjo Cau Nmm+af kadmjfg }snflask n caaion`

cz Xejd Daw

@njdz nxxdj`m d`k`f} onfonddz nd}`s n oncjf`}' nxx`nmm`m odp}`s`m oadpkf$

afnd cn`$ wnj} kadmjfg nfm noasfjo` ndafg wj}e n ~pn}s`lajd nfpssapfm }a n jkxd` lsnk`+ncn` oncjf`} nfm nf ax`f caaipfj}& ]e` s`pd} wn Ga}ejo m`}n

wapdm cd`fm jf}a kz odj`f}' eak

`d`k`f} nda os`n}` n msnkn}jodjge} nfm enmaw$ xns}jopdnsdz jf nc` xnjf}`m& Nfm$ jsafjonddz$ }e` kxdjon}`m m`}njd J nmm`m$ }e` jfons|`m oasfjo` cdaoi$ j }e` `nj`J} j n xsòn} xjò` }en} jkxdzxdno` %`` }e` }asz af x& =<*&

Cpjdmjfg }e` oncjf`}]e` cnjo lask }ns}`m wj}e }wa sdns cau`$ n eawf jf }e` msnx& =7& ]e` }ax nfm ca}}ak$ nsosapfm nfm cnoi w`s` knm` px

}ejoi$ dpkc`s+oas` cjsoe xdzwajm` nfm maas w`s` xaxdns lsn

+jf&+}ejoi cjsoe xdzwaam xnf`kadmjfg gdp`m nfm fnjd`m nsapfjm` `mg` al }e` maas nfm jm` lsnkas` m`}njdjfg nfm enmaw djf`n`kcdjfg }e` cau`$ ead` w`jf}a }e` }jd` al }e` on` jm` lancd` e`d|jfg xjf& ]e` on` w`nfm os`w`m }ag`}e`s wj}e }e` oon}`m a }e` oasfjo`$ cn` nfm wnjfg wapdm oa|`s }e` os`w e`nm

Nmmjfg n Ga}ejo nsoe]a kni }e Ga}ejo nsoe$ }e dpkcjsoe xdzwaam wn op} }a wjd`fg}e& Xdzwaam `djkjfn}`m xnf`nfm kjfjkjr`m nfz ùxnfjaf ang }en} wapdm xdnz en|ao wj}e }enfm nsoe`m kadmjfg& Nl}`s }e`

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c``f gdp`m }ag`}e`s ngnjf$ zap onf bajf} ndd

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8/9/2019 TXFCM


<8 L J F @ W A A M W A S I J F G Xea}a2 Kn}}e`

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8/9/2019 TXFCM


F A \ @ K C @ S ! M @ O @ K C @ S > : :

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Knsi }e` xjf cansm lsak }e` }njd cansm& N odnkx j was}e

n n }`nmz enfm we`f }snfl`ssjfg }e` daon}jaf al xjf&

Kni` ndd fò`nsz nw

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8/9/2019 TXFCM

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fa} a }ejf }en} j} wnsx”ncap} > ⁍ = jf& }ejoij n gaam oakxsakj`&

Kjdd ndd al }e` djfjfg xjò` zap‚dd f``m&

Gdp` px xnf`d las }e` jfjm` al }e` djm nfm

}e` ca}}ak al }e` cau jl zap maf‚} en|`xjò` wjm` `fapge& _nfm }e`k nfm nxxdz

`|`snd oan} al e`ddno& ]e`` xjò` f``m

}a c` ljfje`m a }en} }e` cns` waam ma`

fa} oak` jf oaf}no} wj}e }e` oaf}`f} al

}e` cau& Cònp` waam j nojmjo$ j} wjdd }ns+fje b`w`dsz nfm spjf nfz |ndpncd` xnx`s&

Lj} }e` djfjfg las }e` djm nfm cau ljs}$

wj}e n xa} al gdp` jf }e` o`f}`s& Op} }e`k

a }en} }e`z lj} }jge}dz ndafg }e`js d`fg}e$cp} c` ps` }a d`n|` n dj}}d` xno` af }e`js

jm` }a nddaw las waam ka|`k`f}& Op}

}e` jm` xjò` las }e` djm nfm cau djge}dz

dafg nfm xs`+lj} }e`k jf xdno`& Lj} }e`

dafg jm` ljs}$ }e`f }e` eas} jm waam j `xòjnddz ldùjcd`$ xa}+djf`s xns} jf xdno`&

]e` }snz ns` jkxdz kndd`s cau

lsak }e` x`ns waam& Maf‚} ca}e`s oz bajf`sz las }e`k”kj}`s af jfg

}njd n} }e` oasf`s ns` ljf`& Zap

gsaa|` las }e` ca}}ak$ jl zap w

cònp` }e`` }snz wjdd f`|`s }ni

O D @ N F D J F @ _ N F M _ J K X D @ M @ ] N J D _

Nxxd` djfjfg$ > ⁍ = jf&

}ejoi$ j gdp`m n}

o`f}`sdjf` al xnf`d&

_}pffjfg waam$ nooakxdje`m bajf`sz nfm xd`njfg xsaxas}jaf

gj|` }ej cau n |jpnd nxx`nd& ]e` enddaw mjk`fjaf nfm

s`ka|ncd` }snz af }ax kni` j} `nz }a noo` }e` oaf}`f}&Djm$ >0 ⁍ >< jf& ejge

Csn cau

ejfg` wj}e

xaj}j|` }ax

Od`n}$ > ⁍ = jf& cz> ⁍ = jf&$ eadm djfjfg

jf xdno`& S`ka|ncd` }snz$ > ⁍ = jf&

}ejoi cz : jf& wjm` cz

7> ⁍ 3 jf& dafg cz >> ⁍ = jf& ejge

Nxxd` djfjf> ⁍ = jf& }ejoi

C`|`d`m `mg` n} }ax

al }snz s`dj`|` nf

a}e`swj` }aa+fpg lj}&

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af ndd ùxa`m

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w`jge}$ jkxdz gdpjfg af }e` ca}}ak

wasi ~pj}` w`dd&

]e` e`jge} al }e` }snz j osj}jond& ]e`z j}xsapm al }e` `nk c`}w``f }e` cau nfm

}e` djm nfm lask nf njs}jge} `nd$ i``xjfg

mp} ap} al }e` cau& Oenkl`s }e` }ax `mg`

al }e` }snz a }en} }e`z ns` fa} ncsnm`m`|`sz }jk` }e` djm j oda`m& ]a }`}+lj} }e`k$

xp} }e` }snz jf xdno` nfm ax`f }e` djm& Jl

}e` }snz sj` wj}e }e` djm$ }e`z‚s` }aa }jge}&Xdnf` as nfm }e` }ax `mg` pf}jd }e` }snz

}nz jf xdno` we`f }e` djm j ax`f`m&

N xpdd wj}e n }wj}]e` kndd xdj} xpdd J m`jgf`m las }ej cau

ma`f‚} ondd n}}`f}jaf }a j}`dl$ cp} j} nmm jf+

}`s`} }a nf a}e`swj` xdnjf+daaijfg lsaf}& We`f oda`m$ }e` xpdd daai dji` af` xjò`$

cp} j}‚ no}pnddz }wa xjò`”af` n}}noe`m

}a }e` }ax `mg` al }e` cau$ }e` a}e`s }a }e`

pfm`sjm` al }e` djm& ]a ax`f }e`

f``m }a }wj} zaps ljfg`s af` wn

j} }e` a}e`s wnz kni` j} ``k n j daoi`m&

Kni` n djge}dz a|`sjr`m sò

xjò` al wndfp} las }e` xpdd$ nfm

endl& Kas}j` }e` }wa xjò` a }oak` }ag`}e`s bp} a we`f oda

gdp` }e`k jf}a xdno`$ pfljfje`m&

nfm }e`k }a enx` nl}`s }e`z‚s` jfLjfje }e` ap}jm` al }e` cau wj}

je ajd kju}ps`$ e`ddno$ |nsfje asD`} }e` ljfje ops` las n l`w mnz$ }}e` pslno` n gaam oan} al wnu nf

}a n ejge ejf`& Xp} }e` ejfg` cno

zaps cau j maf`&

_}sa}e`s Xpsmz j n waamwasi`s jf Csjmg

Oaff&$ nfm n lask`s naojn}` `mj}as al

Waamwasijfg&

Jf}nddjfg ejfg`

Csn os`w w`ns ap} `njdz$ a j}‚

c`} }a p` }``d os`w }a }`kxasnsjdz

ln}`f }e` ejfg`& _}``d e`nm ns` d`

xsaf` }a }sjxxjfg& P` }e` csn os`w

afdz las }e` ljfnd lj}&

N }ncd`nwf bajf} f``m n dj}}d` e`dx& Nl}`s `}}jfg }e` l`fo` }a }e` dnzap} djf` knsi`m af }e`

cau$ nmm knijfg }nx` nsapfm }e` ap}jm` al }e` cau }a kjfjkjr` }`nsap} mpsjfg }e` op}& Od`nf px

}e` nwf `mg` wj}e n cdaoi xdnf`$ osnx`s as nfmxnx`s&

]sjk }a lj}& ]e` jm` xjò` ns` op} }a

òps`m wj}e n xa} al gdp`&

D`n|` n dj}}d` cs`n}ejfg saak las }

jfg& Nl}`s osnxjfg all }e` e`ddno lsa

o`f}`s al }e` pfm`sjm` al }e` djm$ }e`

nmm n c`nm al gdp` }a òps` }e` djfj

_ N W N X N S ] ] E @ C A U N F M J F _ ] N D D ] E @ D J F J F G

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Ms`jfg Px n Cnjo Cau]snmj}jafnd xdjf}e nfm oasfjo` xdp n ops|`m lsaf}

}snflask n jkxd` on` xjò`

C Z S A G @ S E A D K @ _

a} waamwasi`

ifaw x`fm }es}`s al }e`js }jk`

cau` al af` as} as nfa}e

` las caai$ oda}ejfg$ dj

cdnfi`}$ mje`$ op}d`sz

ni` nfm amm nfm `fm& x`fm n gs`n} m`nd al }jk`

cau` las cau`$ j&`&$ msnwoe`} as a}e`s on` xjò`&

M`jgfjfg wj}e cau` j

}j|`dz jkxd`& Ljs} zap lj}e` sjge} jr` nfm oafljgp

cau as cau` }a }as` as

}e` m`js`m j}`k& ]e`f zkni` }e` cau` n}}sno}j|`&

s`~p`} }a cpjdm n xnjs al

oncjf`} las lsj`fm nddaw

ùxdas` k`}eam al `fenfcnjo cau&

W`mg`m c`}w``f }e` c

wndd jf knfz c`msaak$ kjm` oncjf`} maf‚} c`f`

ùxa`m bajf`sz as da|`dz

zap maf‚} g`} kpoe al n |j}e`s& ]szjfg }a }ejfi ap}

cau$ J }ns}`m i`}oejfg

ops|z nd}`sfn}j|`$ mòjmjfjkxd`} al }e`k ndd”ops

lsaf} xdnf` al }e` oncjf`

g`f}d` nso& Las o`f}psj`

ops|` en|` c``f p`m }e` laps+~pns` sjgjmj}z

wj}eap} nosjljojfg }e` nmal sò}jdjf`ns oaf}spo}jaf

N gaam }ns}$ cp}

`fapge& J wnf}`m }a nmm

pnd w`jge} }a }e` }ax nfmak`}ejfg n dj}}d` kas` p

}enf }e` 7 ⁍ 5+jf&+}ejoi `mg`

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_jm`

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j o

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j

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oasfjo` lsnk` ndafg }e

`mg` nfm n}}noe`m wj}

ndafg }e` jm` nfm cn

N F @ D @ G N F ]

O N _ @ L S A K] A X ] A C A ] ] A K

Oaf}spo}jaf al }ej cau

j }snjge}laswnsm$

ùo`x} las }e` ops|`m

lsaf}& Eadk` p`

da}}`m ead` las }e`

os`w we`s` waam

ka|`k`f} j dji`dz }a c`

nf jp`& ]e` xjò`

eawf e`s` j >5 jf&

m``x cz >: jf& wjm` cz

35> ⁍ 3 jf& }ndd&

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}e` snjd nfm os`w`m

}a }e` oncjf`} jm`& _da}

nddaw las waam ka|`k`f

Msnwjfg2 \jfo` Cncni

]ax

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cp}}af

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c`nm

kadmjfg&

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j n c`f}

dnkjfn}jaf&

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j gdp`m }a }e`

on` ndafg

}e` lsaf} `mg`&

Ops|`m lsaf} snjd j n c`f}

dnkjfn}jaf& ]`faf laddaw }e`

ops|` al }e` lsaf} al }e` snjd&

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8/9/2019 TXFCM


=8 L J F @ W A A M W A S I J F G Xea}a$ ùo`x} we`s` fa}`m2 Knsi _oealj`dm9 }ej xng`2 Sam

Jl n ma|`}njd`m cau x`ni |adpk` ncap} zaps osnl}knfejx$

wen} onf n jkxd` kj}`s`m cau nz1 Lsak n xsno}jond |j`w$kj}`s`m bajf} s`~pjs` afdz n ~pjoi `}px af }e` }ncd`nw$ nfm

afo` `} px$ }e` op} ns` s`x`n}ncd`9 a n kj}`s`m cau nz }en}

zap‚s` lspgnd wj}e zaps }jk`& Lsak nf ns}j}jo |j`w$ kj}`s`m bajf}

ns` c`np}jlpd$ wj}e afdz dafg gsnjf eawjfg nsapfm }e` jm` al }e`

cau& Cònp` kj}`s`m bajf} f``m }s`fg}e`fjfg$ zap en|` }a nmm

xdjf` as i`z$ cp} }e`` onf jkxns} n mj}jfo}j|` nfm `d`gnf} ldn+

|as }a zaps m`jgf& _a$ jf }e` `fm$ n kj}`s`m cau nda onf x`ni

w`dd ncap} }e` d`|`d al zaps osnl}&

]a noej`|` oaf}jfpap gsnjf af n cau$ s`nw }e` xns} lsak

}aoi %`` }e` lnojfg xng`*& Las n laps+jm`m cau$ op} okj}`s af }e` }ncd`nw wj}e }e` cdnm` }jxx`m }a =0¸& P` n

gnpg` as n m`mjon}`m osaop} bjg las }e`` op}& Maf‚} p`

mnsm osaop} bjg las zaps nfgd`m op} as zap‚dd `fm px wj}e

jfg ead` jf }e` kjmmd` al }e` bjg& Kni` n xnjs al xsno}jo` o

osnxwaam$ nfm oeòi }e` s`pd} wj}e n oakcjfn}jaf ~pns

We`f knijfg }e` op} af }e` òafm `fm al `noe jm`$ c

}a p` n }ax af }e` bjg }a `fps` }en} zaps op} ns` knm` ùn

d`fg}e& Jl zap f``m }a kni` kjfas nmbp}k`f} as od`nf px n

Knijfg

Kj} s`m Cau`]òefj~p` las gsnjf kn}oejfg

nfm noej`|jfg }safg oasf`s bajf}

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8/9/2019 TXFCM


K N S O E ! N X S J D 3 8 8Msnwjfg2 Kjoen`d G`ddn}dz

nwop}$ p` n }pf`m nfm ensx`f`m enfmxdnf`& J p` n daw+nfgd`

cdaoi xdnf` cònp` j} op} `fm gsnjf `llas}d`dz&

N`kcd` nfm gdp` px }e` cau` Ndd cp} }e` kndd`} al onson` kj}`s f``m }s`fg}e`fjfg& ]e`

kj}`s`m bajf} j no}pnddz n osa c`}w``f dafg gsnjf nfm `fm gsnjf$

a j}‚ fa} }e` ka} ax}jknd gdpjfg pslno`& Zap onf }s`fg}e`f n

bajf} `j}e`s c`las` as nl}`s }e` cau en c``f n`kcd`m& Jf `j}e`s

on`$ n`kcdjfg n cau kj}`s s`~pjs` xdnffjfg& Dnz ap} nfm xsno+

}jo` zaps odnkxjfg z}`k c`las` nxxdzjfg gdp`& _ak` ljf`jfg nd+

wnz j s`~pjs`m }a g`} }e` xs`ps` jf ùno}dz }e` sjge} xa}&

Cnfm odnkx wasi w`dd jl }e`z maf‚} en|` }a nxxdz ùo`j|`xs`ps`& Jfnoopsn}`dz op} bajf} wjdd fa} xpdd }ag`}e`s wj}e cnfm

odnkx$ cp} w`dd+op} bajf} wjdd fpg sjge} px wj}e bp} af` as }wa

cnfm odnkx& Knijfg }nx` nda onf xsa|jm` djge} odnkxjfg xs`+

ps` pj}ncd` las kndd`s cau`& Wsnx n msz+n`kcd`m cau wj}e

knijfg }nx` nosa }e` wjm}e al `noe al }e` kj}`s bajf}& ]e`f

djo` ax`f af` bajf}$ dnz ap} }e` cau ldn} nfm nxxdz gdp` }a }e`

bajf}& Ladm }e` cau cnoi }ag`}e`s nfm s`}nx` }en} dn} bajf}&

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K N S O E ! N X S J D 3 8 8 ? S`nwjfg las oaf}jfpap gsnjf

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O M

C N

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8/9/2019 TXFCM


=3 L J F @ W A A M W A S I J F G

jr` }e` kj}`s`m `fm al `noe xjò` al waam c`las` n`kcdj

cau& Wjx` n }ejf dnz`s al gdp` nosa }e` `fm gsnjf nfm$ c`

en msj`m ensm$ osnx` all }e` ùo` gdp`& Faw }e` xasap

gsnjf waf‚} poi px }e` gdp` nfm w`ni`f }e` bajf} we`f

s`nmz las ljfnd n`kcdz&

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cjopj} as }esapge+xdjf` c`las` gdpjfg px }e` cau& Cònp

op} }e`k jf }e` d`fg}e al }e` bajf}$ }e` jm` al }e` cau }jdd

afdz dafg gsnjf$ nfm }e` cjopj} nfm xdjf` e`dx ndjgf }e`

mpsjfg gdp`+px&

Cjopj}`m kj}`s xsa|jm` pf``f }s`fg}e” Wj}e }e`

op} nfm }sjkk`m ùno}dz }a d`fg}e$ `} }e` cjopj}+bajf`s l`

=0¸ nfm nmbp} las }e` xsax`s m`x}e al op}& Kni` }e` op}

af`+}ejsm jf lsak }e` jfjm` `mg` }a p` }e` gs`n}`} m`

waam& Jl zaps cjopj} bajf`s waf‚} kni` n op} }ej oda`

l`fo`$ n}}noe n cdaoi al waam }a }e` l`fo

mapcd`+jm`m }nx` %`` }e` d`l} xea}a c

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lno` al }e` }aoi$ odnkx }e` cansm òps`

kni` }e` op}&

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asn}j|`”]e` `nj`} k`}eam al op}}jfg }es

xdjf` j }a p` }e` }ncd`nw& Wj}e }e`

nds`nmz nfgd`m =0¸ lsak }e` kj}`s op}$ kn

xdjf` gsaa|` pjfg n kj}`s gnpg` nfm }e

l`fo`& _`} }e` cdnm` e`jge} ons`lpddz nfm

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K J ] @ S N F M

G D P @ P X

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8/9/2019 TXFCM


K N S O E ! N X S J D 3 8 8

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K N S O E ! N X S J D 3 8 8Xea}a$ }ej xng` %ca}}ak }es``*2 Kjoen`d Xìa|joe

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8/9/2019 TXFCM


au` ns` }e` ``f}jnd }spo}

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8/9/2019 TXFCM


c`foe nfm nwjfg mawf }e` dnzap} djf`

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8/9/2019 TXFCM


waam }en} enskafjr` w`dd wj}e }e` waam

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