Support Slides for Global Insights dated January 18, 2012

1. This image accompanies the podcast recorded
January 18, 2012
Man vs. Markets
The Battle of Politicians
Against the Markets
“It’s a battle of
politicians against
the markets. But I’m
determined to win
the battle.”
- Angela Merkel, May 6, 2010
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

2. This chart accompanies the podcast recorded
January 18, 2012
Fragile Economy
No Growth
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

3. This chart accompanies the podcast recorded
January 18, 2012
Total Global Debt and Global Debt/GDP
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

4. This chart accompanies the podcast recorded
January 18, 2012
Annual Consumer Inflation – Official SGS (1980-based) Alternate
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

5. This chart accompanies the podcast recorded
January 18, 2012
G-7 Aggregate Debt Principal and Interest (USD equiv.)
2012 – 2022 - UK, US, Italy, Germany, Canada, Japan & France
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

6. This chart accompanies the podcast recorded
January 18, 2012
G-7 Aggregate Debt Principal and Interest (USD equiv.)
2012 (by month) UK, US & Japan
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

7. This chart accompanies the podcast recorded
January 18, 2012
Classic Bank Runs
PIIGS M1 Deposits (Annualized 6-Month Change)
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

8. This chart accompanies the podcast recorded
January 18, 2012
Eurozone 10-Year Yields Deposits at ECB
Commercial Paper Markets are Closed
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

9. This chart accompanies the podcast recorded
January 18, 2012
Global Schedule for Maturing Corporate Debt
750 billion of Bank Debt Must Roll
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

10. This chart accompanies the podcast recorded
January 18, 2012
The Financial System of Europe has WALKED the Plank
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

11. This chart accompanies the podcast recorded
January 18, 2012
December 1st Coordinated Central Bank Swaps Announcement
This is the launch of QE III
Dec 1st Coordinated Central Bank Swaps Announcement
• Fed Funding the world for financial stability
• ECB, federal reserve, Swiss National Bank, Bank of England, Bank of Japan, Canadian Central
Bank
ECB Announcement of Unlimited 36 Month Lending Facility
• Monetary Bazooka in disguise
• Widened eligible securities accepted. AAA to B; anything but junk
• Reduced reserve requirements from 2% to 1% = doubled leverage
• Guaranteed carry trade to recapitalize banks & fund sovereigns
“The weapon in question is unlimited three-year lending to banks as planned by the European Central Bank. Match it
against three-year Eurozone government bonds used as security for the loan and you the have the ‘repo-to-maturity’
trade beloved of Mr. Corzine. The ECB lending will be at the average of its short-term rates over the period, currently 1
per cent. Use €10bn of ECB loans to buy Italian debt, at 6.18 per cent, and a bank could pocket a cool €518m in three
years. Not bad for zero risk, and of course great for Italy – and France, whose President Nicolas Sarkozy praised the
idea on Friday.”
- James Mackintosh Financial Times December 12th
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

12. This chart accompanies the podcast recorded
January 18, 2012
Global Reflation Underway
QE III has
set sail
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

13. This chart accompanies the podcast recorded
January 18, 2012
The Battle of Politicians Against the Markets
“It’s a battle of politicians against the markets. But I’m determined to win the battle.”
- Angela Merkel, May 6, 2010
Scoreboard:
Politicians Markets
0 5
It is Already Failing.
Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm
The content of this slide should not be considered investment advice of any sort, nor should it be used to make investment decisions. Use of this
slide is considered to be your explicit acceptance of the Disclosure Statement and the Terms of Use found on the last page of this document.

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Listen to the original podcast for this slide at http://www.traderview.com/globalInsights.htm