s.e.c.'s appellate brief

55
 [LC]KM X]@]KX HA[^] AE @VVK@OX EA^ ]BK ECE]B HC^H[C]  La, 63$06335 XKH[^C]CKX @LM KRHB@LIK HADDCXXCAL/ Vo`cl}cee$@vvkoo`l}/ u, D@^J H[N@L/ Mkeklm`l}$@vvkookk, Al @vvk`o E~ad }bk [lc}km X}`}kx Mcx}~ch} Ha{~} ea~ }bk La~}bk~l Mcx}~ch} ae ]kr`x N^CKE AE ]BK XKH[^C]CKX @LM KRHB@LIK HADDCXXCAL/ VO@CL]CEE$@VVKOO@L] M@UCM D, NKHJK^ Iklk~`o Ha{lxko D@^J M, H@BL Mkv{}s Iklk~`o Ha{lxko G@HAN B, X]COOD@L Xaochc}a~ ^@LM@OO Y, P[CLL @xxcx}`l} Iklk~`o Ha{lxko DCHB@KO O, VAX] Xklca~ Oc}ci`}cal Ha{lxko Xkh{~c}ckx `lm Krhb`lik Haddcxxcal 066 E X}~kk}/ L,K, Y`xbcli}al/ M,H, >6;=3 ">6># ;;0$;600 "Vax}#

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Page 1: S.E.C.'s Appellate Brief

8/9/2019 S.E.C.'s Appellate Brief

http://slidepdf.com/reader/full/secs-appellate-brief 1/55

 [LC]KM X]@]KX HA[^] AE @VVK@OXEA^ ]BK ECE]B HC^H[C]

  La, 63$06335

XKH[^C]CKX @LM KRHB@LIK HADDCXXCAL/

Vo`cl}cee$@vvkoo`l}/

u,

D@^J H[N@L/

Mkeklm`l}$@vvkookk,

Al @vvk`o E~ad }bk [lc}km X}`}kx Mcx}~ch} Ha{~}ea~ }bk La~}bk~l Mcx}~ch} ae ]kr`x

N^CKE AE ]BK XKH[^C]CKX @LM KRHB@LIK HADDCXXCAL/VO@CL]CEE$@VVKOO@L]

M@UCM D, NKHJK^ 

Iklk~`o Ha{lxko

D@^J M, H@BLMkv{}s Iklk~`o Ha{lxko

G@HAN B, X]COOD@LXaochc}a~ 

^@LM@OO Y, P[CLL@xxcx}`l} Iklk~`o Ha{lxko

DCHB@KO O, VAX]Xklca~ Oc}ci`}cal Ha{lxko

Xkh{~c}ckx `lm Krhb`lik Haddcxxcal066 E X}~kk}/ L,K,Y`xbcli}al/ M,H, >6;=3">6># ;;0$;600 "Vax}#

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 ]@NOK AE HAL]KL]X

V`ik

X]@]KDKL] KI@^MCLI A^@O @^I[DKL] , , , , , , , , , , , , , , , , , , , , , , , c

]@NOK AE @[]BA^C]CKX , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , cu

X]@]KDKL] AE G[^CXMCH]CAL , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0

X]@]KDKL] AE ]BK CXX[KX V^KXKL]KM , , , , , , , , , , , , , , , , , , , , , , , , , , , 0

X]@]KDKL] AE ]BK H@XK , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >

@, L`}{~k ae }bk H`xk , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >

N, E`h}x , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8

H, V~ahkkmclix cl }bk Mcx}~ch} Ha{~} , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 5

X[DD@^S AE @^I[DKL] , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 3

X]@LM@^M AE KUCKY , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 00

@^I[DKL] , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0>

]BK MCX]^CH] HA[^] K^^KM CL BAOMCLI ]B@] ]BK

HADVO@CL] E@COKM @MKP[@]KOS ]A @OOKIKMKHKV]CAL @X ^KP[C^KM [LMK^ XKH]CAL 06"n#@LM [OK 06n$;, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0>

@, H{n`l–x @i~kkdkl} }a Jkkv Clea~d`}cal Halecmkl}c`o

I`uk ^cxk }a ` M{}s La} }a ]~`mk/ `lm Bcx [lmcxhoaxkm]~`mcli Y`x ]bk~kea~k Mkhkv}cuk/ cl Ucao`}cal ae

Xkh}cal 06"n# lm {ok 06n$;, , , , , , , , , , , , , , , , , , , , , , , , , , , , , 08

$cc¤

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]`nok ae Hal}kl}x "hal},# V`ik

0, ]bk dcx`vv~av~c`}cal }bka~s ae clxcmk~ }~`mcli/

`x `mav}km ns }bk X{v~kdk Ha{~}/ v~abcnc}x }~`mclial }bk n`xcx ae d`}k~c`o/ lalv{noch clea~d`}cal cl  n~k`hb ae m{}s }a }bk xa{~hk ae }bk clea~d`}cal, , , , , , , , , 08

>, Haddcxxcal ^{ok 06n;$>"n#"0#/ ns c}x vo`cl }k~dx/

xk}x ea~}b ` m{}s al H{n`l {lmk~ Xkh}cal 06"n# `lm ^{ok 06n$; la} }a }~`mk nkh`{xk bk `i~kkm }ad`cl}`cl }bk clea~d`}cal cl halecmklhk, , , , , , , , , , , , , , , , 0;

8, Haddcxxcal ^{ok 06n;$>"n#"0# kdnamckx ` u`ocm

cl}k~v~k}`}cal ae }bk mkhkv}cal ~kp{c~kdkl} ae Xkh}cal 06"n# `lm cx kl}c}okm }a Hbku~al mkek~klhk, , , , , , , 05

`, [lmk~ Xkh}cal 06"n#/ ` m{}s ae }~{x} a~ halecmklhkd`s ~cxk ns i~kkdkl}, , , , , , , , , , , , , , , , , , , , , , , , 02

  n, @l `i~kkdkl} }a d`cl}`cl clea~d`}cal cl halecmklhkclho{mkx l i~kkdkl} la} }a }~`mk, , , , , , , , , , , , , , , >0

=, Kukl `v`~} e~ad ^{ok 06n;$>"n#"0#/ {lmcxhoaxkm }~`mcli`e}k~ `i~kkcli }a jkkv clea~d`}cal halecmkl}c`o cx mkhkv}cuk {lmk~ Xkh}cal 06"n# lm ^{ok 06n$;, , , , , , , , , , , 88

N, Cl @ls Kukl}/ }bk Hadvo`cl} @mkp{`}kos @ookikm ]b`}

H{n`l–x Halm{h} Y`x Mkhkv}cuk Nkh`{xk Bk Krvochc}os @i~kkm La} }a ]~`mk `lm ]bkl ]~`mkm N`xkm al }bk Halecmkl}c`o Clea~d`}cal, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8;

HALHO[XCAL , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , =0

@MMKLM[DHK^]CECH@]K AE XK^UCHKHK^]CECH@]K AE HADVOC@LHK

$ccc¤

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]@NOK AE @[]BA^C]CKX

H@XKX V`ik

@xbh~ae} u, Cpn`o/ 0>3 X, H}, 0389 ">663# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 00

Nkoo @}o`l}ch Ha~v, u, ]yadnos/ ;;6 [,X, ;== ">669# , , , , , , , , , , , , , , , , , , , , , 00

H`~vkl}k~ u, [lc}km X}`}kx/ =2= [,X, 03 "0329# , , , , , , , , , , , , , , , , , , , , , , , , , , >=

Hbku~al [,X,@,/ Clh, u, L`}{~`o ^kxa{~hkx Mkeklxk Ha{lhco/ Clh,/ =59 [,X, 289 "032=# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 06/ 05/09

v`xxcd

Hadv{mslk Ha~v u, Xb`lk/ =;8 E, X{vv, >m 269 "X,M,L,S, >665# , , , , , , , , >9$>2

Mk`~na~l Clm{x}~c`o D`l{e`h}{~cli Ha,/ O]M u, Xa{m~alch Ecl`lw @I/ 0339 YO 0;5;23 "L,M, Coo, @v~co 0/ 0339# , , , , , , , , , , , , , , , , , , , , , , , , , 86

Mc`dalm u, A~k`d{la/ >= L,S,>m =3= "L,S, 0353# , , , , , , , , , , , , , , , , , , , , , , >=

Ko Hadc}k V`~` Ko Ncklkx}`~ mk K`~ocd`~} u, Y`~dk~m`d/ ;83 E,8m 065> "3}b Hc~, >662# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >9

Ialw`okw u, J`s/ ;99 E,8m 566 ";}b Hc~, >663#/ vk}c}cal ea~ hk~}, ecokm/ 92 [,X,O,Y, 8>3; "[,X, Ah}, 3/ >663# "La, 63$;=># , , , , , , , , , , , , , , 00/ 85

B`~~cli}al u, X}`}k E`~d Ec~k % H`x{`o}s Ha,/ ;58 E,8m 0=0 ";}b Hc~, >663# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 00

Bk~d`l % D`hOk`l u, B{mmokx}al/ =;3 [,X, 89; "0328# , , , , , , , , , , , , , , , , , , 8=

O`liea~m u, ^c}k @cm ae @o`n`d`/ Clh,/ >80 E,8m 0862 "00}b Hc~, >666# , , , , , , , 8=

 L`}cal`o H`nok % ]kokhadd{lch`}cal @xxahc`}cal u, N~`lm R Cl}k~lk}Xk~uchkx/ ;=; [,X, 359 ">66;# , , , , , , , , , , , , , , , , , , , , , , , , , , , , 05/ 09/ >>

 La~}b @}o`l}ch Clx}~{dkl}x/ Clh, u, B`nk~/ 022 E,8m 82 ">m Hc~, 0333# , , , , , , , , 86

$cu¤

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]`nok ae @{}ba~c}ckx "hal},# V`ik

 La~}bvacl} ]khblaoais u, EHH/ =0= E,8m 50 "M,H, Hc~, >66;# , , , , , , , , , , , 05$09

Vc}}x}al Ha`o I~a{v u, Xknnkl/ =22 [,X, 06; "0322# , , , , , , , , , , , , , , , , , , , , , , >2

^kikl}x ae }bk [lcuk~xc}s ae H`ocea~lc` u, H~kmc} X{cxxk Ec~x} Nax}al/ =2> E,8m 89> ";}b Hc~, >669# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >6

XKH u, H`vc}`o I`clx ^kxk`~hb N{~k`{/ 89; [,X, 026 "0358# , , , , , , , , , , , , , , , 09

XKH u, H{n`l/ 58= E, X{vv, >m 908 "L,M, ]kr, >663# , , , , , , , , , , , , , , , , , , 8/ 9/ 2v`xxcd

XKH u, Ma~awbja/ ;9= E,8m => ">m Hc~, >663# , , , , , , , , , , , , , , , , , , , , , , , , , , , >0

XKH u, Jc~hb/ >58 E, X{vv, >m 00== "L,M, Coo, >668# , , , , , , , , , , , , , , , , , , , , , , >3

XKH u, Ja~ld`l/ 830 E, X{vv, >m =99 "L,M, ]kr, >66;# , , , , , , , , , , , , , , , >2/ >3

XKH u, La}bk~l/ ;32 E, X{vv, >m 059 "M, D`xx, >663# , , , , , , , , , , , , , , , , , , , , >9

XKH u, S{l/ 8>9 E,8m 0>58 "00}b Hc~, >668# , , , , , , , , , , , , , , , , , , , , , , , , , >5/ >9

XKH u, W`lmea~m/ ;8; [,X, 208 ">66># , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 09

X}alk~cmik Clukx}dkl} V`~}lk~x OOH u, Xhckl}cech$@}o`l}`/ ;;> [,X, 0=2 ">662# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >6

[lc}km X}`}kx u, H`~vkl}k~/ 930 E,>m 06>= ">m Hc~, 0325#/ `ee–m ns kp{`oosmcucmkm ha{~} / =2= [,X, 03 "0329# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8=

[lc}km X}`}kx u, Hbkx}d`l/ 3=9 E,>m ;;0 ">m Hc~, 0330# , , , , , , , , , , , , , >;/ >5/ 8=

[lc}km X}`}kx u, E`ohalk/ >;9 E,8m >>5 ">m Hc~, >660# , , , , , , , , , , , , , , , , , , , , >5

$u¤

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]`nok ae @{}ba~c}ckx "hal},# V`ik

[lc}km X}`}kx u, A–B`i`l/ ;>0 [,X, 5=> "0339# , , , , , , , , , , , , , , , , , , , , 08/ 0=/ 02

v`xxcd

[lc}km X}`}kx u, ask~/ ;=3 E,8m 225 ">m Hc~, >662# , , , , , , , , , , , , , , , , , , , , , , 05

X]@][]KX @LM ^[OKX

Xkh{~c}ckx @h} ae 0388/ 0; [,X,H, 99`/ k} xkp,

Xkh}cal 09"`#/ 0; [,X,H, 99p"`# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8/ 5

Xkh{~c}ckx Krhb`lik @h} ae 038=/ 0; [,X,H, 92`/ k} xkp,

Xkh}cal 06"n#/ 0; [,X,H, 92g"n# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8/ 5/ 9v`xxcd

Xkh}cal >0"m#/ 0; [,X,H, 92{"n# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0 Xkh}cal >0"k#/ 0; [,X,H, 92{"k# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0 Xkh}cal >9/ 0; [,X,H, 92`` , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0

^{okx {lmk~ }bk Xkh{~c}ckx Krhb`lik @h} ae 038=/ 09 H,E,^, >=6,6$0

^{ok 06n$;/ 09 H,E,^, © >=6,06n$; , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8/ 5/ 3v`xxcd

^{ok 06n;$>/ 09 H,E,^, © >=6,06n;$> , , , , , , , , , , , , , , , , , , , , , , , , 2/ 0;/ 8>v`xxcd

^{ok 06n;$>"n#"0#/ 09 H,E,^, >=6,06n;$>"n#"0# , , , , , , , , , , , , , , , , 2/ 06/ 0>

v`xxcd^{ok 06n;$>"n#">#/ 09 H,E,^, >=6,06n;$>"n#"># , , , , , , , , , , , , , , , , , , , , , >2^{ok 06n;$>"n#"8#/ 09 H,E,^, >=6,06n;$>"n#"8# , , , , , , , , , , , , , , , , , , , , , >2

^ki{o`}cal EM/ 09 H,E,^, © >=8,066"n#"cc# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8>

>2 [,X,H, 0>30 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 0

$uc¤

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]`nok ae @{}ba~c}ckx "hal},# V`ik

Ekmk~`o ^{ok ae Hcuco V~ahkm{~k 3"n# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 3

Ekmk~`o {ok ae Hcuco V~ahkm{~k 0>"n#"5# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 9

DCXHKOO@LKA[X

N`~n`~` N`mk~ @om`uk/ ‟Dcx`vv~av~c`}cal7 @ Iklk~`o ]bka~s ae Oc`ncoc}sea~ ]~`mcli al Lalv{noch Clea~d`}cal/— 08 Baex}~` O, ^ku, 060"032=# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 03

]bk @dk~ch`l Bk~c}`ik Mch}cal`~s ae }bk Kliocxb O`li{`ik/ Ea{~}b Km, "Ba{ib}al Dceeocl >663# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >>

O`~~s B`~~cx/ ]^@MCLI @LM KRHB@LIKX7 D@^JK] DCH^AX]^[H][^K

EA^ V^@H]C]CALK^X "LS7 Area~m [lcuk~xc}s V~kxx >668# , , , , , , , , , , , , =6

Gako B`xn~a{hj/ ‟Dk`x{~cli }bk Clea~d`}cal Hal}kl} ae X}ahj ]~ mkx/—

=5 ]bk Ga{~l`o ae Ecl`lhk 093 "0330# , , , , , , , , , , , , , , , , , , , , , , , , , , , , =6

]bad`x Okk B`wkl/ ; O@Y AE XKH[^C]CKX KI[O@]CAL "5}b km,# , , , , , 03

^kx}`}kdkl} "Xkhalm# ae @iklhs "03;2# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >=

Xkokh}cuk Mcxhoax{~k `lm Clxcmk~ ]~`mcli/ @mav}cli ^kok`xk/ >666 YO 0>60;;5"@{i, 0;/ >666# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , 8>

Dk~~c`d$Yknx}k~ Aloclk Mch}cal`~s , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , >>

Yknx}k~–x Lky Ya~om Mch}cal`~s "Ycoks V{nocxbcli/ Clh, >66;# , , , , , , , , , , , , >>

5 YCOOCX]AL AL HAL]^@H]X/ © 0870= "=}b km, >663# , , , , , , , , , , , , , , , , , , , , , >3

$ucc¤

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X]@]KDKL] AE G[^CXMCH]CAL

]bk mcx}~ch} ha{~} b`m g{~cxmch}cal }a bk`~ }bk Haddcxxcal–x ho`cdx {lmk~ 

Xkh}calx >0"m#/ >0"k#/ `lm >9 ae }bk Xkh{~c}ckx Krhb`lik @h} ae 038=/ 0; [,X,H,

92{"m#/ 92{"k#/ `lm 92``, Ecl`o g{midkl} ae mcxdcxx`o yc}b v~kg{mchk y`x kl}k~km

ea~ }bk mkeklm`l} al @{i{x} 08/ >663/ ^K ]`n 8 "`lm `dklmkm @{i{x} 08/ >663/

^K ]`n =#/ `lm }bk Haddcxxcal }cdkos ecokm c}x la}chk ae `vvk`o al Ah}ank~ 9/

>663/ ^K ]`n >, ]bcx Ha{~} b`x g{~cxmch}cal {lmk~ >2 [,X,H, 0>30,

X]@]KDKL] AE ]BK CXX[KX V^KXKL]KM

]bcx cx `l `vvk`o ns }bk Xkh{~c}ckx `lm Krhb`lik Haddcxxcal e~ad ` ecl`o

 g{midkl} cl ` hcuco o`y klea~hkdkl} `h}cal `ookicli clxcmk~ }~`mcli ucao`}calx ae 

}bk `l}ce~`{m v~aucxcalx ae }bk ekmk~`o xkh{~c}ckx o`yx, Mkeklm`l} D`~j H{n`l/ `x

`ookikm cl }bk hadvo`cl}/ `i~kkm cl `mu`lhk }a jkkv d`}k~c`o/ lal$v{noch

clea~d`}cal `na{} hadv`ls–x cddclkl} xkh{~c}ckx }~`lx`h}cal halecmkl}c`o, ]bk

hadvo`cl} e{~}bk~ `ookikm }b`} H{n`l/ `e}k~ ~khkcucli }bk halecmkl}c`o clea~d`}cal/

~kxvalmcli/ ‟Ykoo/ lay C–d xh~kykm, C h`l–} xkoo/— `lm ~khkcucli da~k

halecmkl}c`o clea~d`}cal/ xaom bcx x}ahj yc}ba{} mcxhoax{~k }a }bk hadv`ls nkea~k

}bk clea~d`}cal y`x d`mk v{noch/ `uacmcli oaxxkx ae auk~ -9;6/666, ]bk mcx}~ch}

ha{~} mcxdcxxkm }bk hadvo`cl} al }bk i~a{lm }b`} c} mcm la} `mkp{`}kos `ookik }b`}

H{n`l–x }~`mcli y`x mkhkv}cuk, ]bk cxx{kx v~kxkl}km ~k7

0

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0, Ybk}bk~ }bk mcx}~ch} ha{~} k~~km cl e`cocli }a `vvos Haddcxxcal ^{ok 06n;¤

>"n#"0# ‘ v{~x{`l} }a ybchb `l `i~kkdkl} }a jkkv d`}k~c`o/ lal$v{noch clea~d`}cal

halecmkl}c`o icukx ~cxk }a ` m{}s la} }a }~`mk/ x{hb }b`} }~`mcli al }b`} clea~d`}cal

yc}ba{} mcxhoax{~k cx mkhkv}cuk `lm ucao`}kx Xkh}cal 06"n# `lm ^{ok 06n$;,

>, Ybk}bk~/ kukl `v`~} e~ad Haddcxxcal ^{ok 06n;$>"n#"0#/ }~`mcli `e}k~ 

`i~kkcli }a d`cl}`cl clea~d`}cal cl halecmklhk cx mkhkv}cuk {lmk~ Xkh}cal 06"n#

`lm ^{ok 06n$;,

8, Ybk}bk~/ cl `ls kukl}/ }bk Haddcxxcal–x hadvo`cl} x{eechckl}os `ookikx }b`}

H{n`l krvochc}os `i~kkm la} }a }~`mk/ ybk~k }bk hadvo`cl} `ookikx }b`} "`# H{n`l

`i~kkm }a d`cl}`cl }bk d`}k~c`o/ lalv{noch clea~d`}cal cl halecmklhk `lm }bkl/

`e}k~ bk`~cli }bk lki`}cuk clea~d`}cal/ ~kxvalmkm/ ‟Ykoo/ lay C–d xh~kykm ‘ C

h`l–} xkoo:— `lm "n# H{n`l an}`clkm `mmc}cal`o d`}k~c`o/ lalv{noch clea~d`}cal

e~ad }bk hadv`ls "}b~a{ib c}x `ikl}#/ ybchb ~kockm al H{n`l–x `hjlayokmidkl}

}b`} bk ha{om la} xkoo bcx xb`~kx {l}co `e}k~ }bk v{noch `lla{lhkdkl},

X]@]KDKL] AE ]BK H@XK

@, L`}{~k ae }bk H`xk

]bk Haddcxxcal–x hadvo`cl} `ookikm }b`} mkeklm`l} D`~j H{n`l/ `e}k~ 

`i~kkcli }a d`cl}`cl }bk clea~d`}cal cl halecmklhk/ y`x kl}~{x}km yc}b d`}k~c`o/

lalv{noch clea~d`}cal ns ` ha~va~`}cal h`ookm D`dd`,had ybkl bk y`x xaochc}km

>

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}a v`~}chcv`}k cl ` v~cu`}k xkh{~c}ckx aeek~cli, ]bk hadvo`cl} e{~}bk~ ookikm }b`} bk

}~`mkm cl }bk d`~jk} al }bk n`xcx ae }bk clea~d`}cal cl n~k`hb ae ` m{}s }a bcx

xa{~hk/ `uacmcli oaxxkx cl krhkxx ae -9;6/666, ]bk hadvo`cl} hb`~ikm H{n`l yc}b

clxcmk~ }~`mcli cl ucao`}cal ae Xkh}cal 09"`# ae }bk Xkh{~c}ckx @h} ae 0388/ 0;

[,X,H, 99p"`#/ Xkh}cal 06"n# ae }bk Xkh{~c}ckx Krhb`lik @h} ae 038=/ 0; [,X,H,

92g"n#/ `lm ^{ok 06n$;/ 09 H,E,^, >=6,06n$;/ }bk~k{lmk~,0

]bk mcx}~ch} ha{~} i~`l}km H{n`l–x da}cal }a mcxdcxx n`xkm al c}x halho{xcal

}b`} }bk Haddcxxcal–x hadvo`cl} e`cokm `mkp{`}kos }a `ookik }b`} H{n`l aykm `

m{}s }a bcx xa{~hk la} }a {xk }bk halecmkl}c`o clea~d`}cal/ `lm }bk~kea~k bcx }~`mcli

y`x la} mkhkv}cuk `x ~kp{c~km ns Xkh}cal 06"n#,

N, E`h}x

Al ` da}cal }a mcxdcxx/ }bk e`h}x `ookikm cl }bk hadvo`cl} `~k `hhkv}km `x

}~{k, ]bk eaooaycli e`h}{`o `hha{l} }bk~kea~k cx m~`yl e~ad }bk Haddcxxcal–x

hadvo`cl},

Cl D`~hb >66=/ mkeklm`l} D`~j H{n`l v{~hb`xkm 566/666 xb`~kx ae 

D`dd`,had/ ` 5,8+ x}`jk cl }bk hadv`ls, ^K ]`n 5/ Hadvo, µ 06, Cl }bk xv~cli

ae >66=/ D`dd`,had/ `} }bk x{iikx}cal ae clukx}dkl} n`lj Dk~~cd`l H{~b`l

0 @x }bk mcx}~ch} ha{~} x}`}km/ XKH u, H{n`l/ 58= E, X{vv, >m 908/ 909 l,>"L,M, ]kr, >663#/ }bk v`~}ckx `i~kkm }b`}/ cl }bcx h`xk/ oc`ncoc}s ya{om nk kr`dclkm{lmk~ Xkh}cal 09"`# `hha~mcli }a }bk x`dk x}`lm`~mx `x {lmk~ Xkh}cal 06"n# `lm^{ok 06n$;,

8

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Ea~m % Ha, "‟Dk~~cd`l—#/ mkhcmkm }a ~`cxk h`vc}`o }b~a{ib ` v~cu`}k vo`hkdkl}

jlayl `x ` VCVK "‟v~cu`}k clukx}dkl} cl v{noch kp{c}s—#, Cm, µ 00, D`dd`,had

kli`ikm Dk~~cd`l }a xk~uk `x }bk vo`hkdkl} `ikl} ea~ }bk aeek~cli, Cm,

@} }bk klm ae G{lk >66= `lm `x }bk VCVK v~ai~kxxkm }ay`~m hoaxcli/

D`dd`,had mkhcmkm }a cluc}k H{n`l }a v`~}chcv`}k cl }bk VCVK, Cm, µ 0>, ]bk

hadv`ls–x HKA y`x clx}~{h}km }a cluc}k H{n`l `lm }a ec~x} d`jk x{~k }b`} H{n`l

{lmk~x}aam }b`} bk ya{om b`uk }a jkkv }bk clea~d`}cal `na{} }bk aeek~cli

halecmkl}c`o, Cm, µ 0>, Al G{lk >2/ >66=/ D`dd`,had–x HKA xvajk yc}b H{n`l

 ns }kokvbalk ea~ auk~ kcib} dcl{}kx, Cm, µ 08, ]bk HKA v~ke`hkm }bk h`oo ns

clea~dcli H{n`l }b`} bk b`m halecmkl}c`o clea~d`}cal }a haluks }a bcd, Cm, µ 0=,

H{n`l `i~kkm }b`} bk ya{om jkkv cl halecmklhk yb`}kuk~ clea~d`}cal }bk HKA

cl}klmkm }a xb`~k yc}b bcd, Cm, ^koscli al H{n`l–x `i~kkdkl} }a jkkv }bk

clea~d`}cal halecmkl}c`o/ }bk HKA }aom H{n`l `na{} }bk VCVK aeek~cli, Cm, H{n`l

 nkh`dk {vxk} `lm `li~s m{~cli }bk haluk~x`}cal/ x`scli/ `dali a}bk~ }bclix/ }b`}

bk mcxocjkm VCVKx nkh`{xk }bks mco{}k x}ahj u`o{k ea~ krcx}cli xb`~kbaomk~x, Cm,

@} }bk klm ae }bk haluk~x`}cal/ H{n`l }aom }bk HKA/ ‟Ykoo/ lay C)d xh~kykm, C

h`l–} xkoo,— Cm,

Xba~}os }bk~k`e}k~/ D`dd`,had–x krkh{}cuk hb`c~d`l kd`cokm a}bk~ 

D`dd`,had na`~m dkdnk~x {vm`}cli }bkd al VCVK$~ko`}km c}kdx/ clho{mcli }bk

=

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HKA–x haluk~x`}cal yc}b H{n`l, Cm, µ 0;, Bk y~a}k }b`} ‟Z`Tx `l}chcv`}km

ZH{n`lT clc}c`oos ‒eoky aee }bk b`lmok– `lm x`cm bk ya{om xkoo bcx xb`~kx

"~khailcwcli }b`} bk y`x la} `nok }a ma `ls}bcli {l}co yk `lla{lhk }bk kp{c}s# n{}

}bkl `xjkm }a xkk }bk }k~dx `lm halmc}calx , , , ,— Cm,

O`}k~ al G{lk >2/ `i`cl ~koscli al ‟H{n`l–x `hhkv}`lhk ae ` m{}s ae 

halecmkl}c`oc}s `lm bcx `hjlayokmidkl} }b`} bk ha{om la} xkoo {l}co `e}k~ }bk v{noch

`lla{lhkdkl}— ae }bk VCVK aeek~cli/ }bk HKA xkl} bcd ` eaooay${v kd`co x}`}cli

‟ZcTe sa{ y`l} da~k mk}`cox `na{} }bk v~cu`}k vo`hkdkl} vok`xk hal}`h} , , ,

ZDk~~cd`lT— `lm v~aucmkm }bk }kokvbalk l{dnk~ ae }bk Dk~~cd`l x`okx

~kv~kxkl}`}cuk, Cm, µ 05, H{n`l h`ookm }bk Dk~~cd`l x`okx ~kv~kxkl}`}cuk }b`}

`e}k~laal `lm xvajk yc}b bcd ea~ kcib} dcl{}kx `na{} }bk VCVK, Cm, µ 09, M{~cli

}b`} h`oo/ }bk x`okxd`l v~aucmkm `mmc}cal`o halecmkl}c`o mk}`cox `na{} }bk VCVK/

`lm/ cl ~kxvalxk }a H{n`l–x p{kx}calx/ }aom bcd }b`} }bk VCVK y`x nkcli xaom `} `

mcxha{l} }a }bk d`~jk} v~chk `lm aeek~km a}bk~ clhkl}cukx ea~ }bk VCVK clukx}a~x,

Cm, Alk dcl{}k `e}k~ b`licli {v yc}b }bk x`okx ~kv~kxkl}`}cuk/ H{n`l h`ookm bcx

 n~ajk~ `lm }aom bcd }a ocp{cm`}k bcx kl}c~k 566/666 xb`~k vaxc}cal cl D`dd`,had,

Cm, µ 02,

]bk lkr} m`s/ al G{lk >3/ >66=/ D`dd`,had–x krkh{}cuk hb`c~d`l kd`cokm

}bk na`~m `lm x`cm ‟yk mcm xvk`j }a D`~j H{n`l "Z}b~a{ib a{~ HKAT `lm/

;

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x{nxkp{kl}os/ a{~ clukx}dkl} n`ljk~# }a eclm a{} ce bk b`m `ls cl}k~kx} cl

 v`~}chcv`}cli }a }bk kr}kl} ae d`cl}`clcli bcx cl}k~kx}, Bcx `lxyk~x yk~k7 bk ya{om

la} clukx}/ bk makx la} y`l} }bk hadv`ls }a d`jk `hp{cxc}calx/ bk ycoo xkoo bcx

xb`~kx ybchb bk h`l la} ma {l}co `e}k~ yk `lla{lhk,— Cm, µ >6,

@} 5766 v,d, al G{lk >3/ `e}k~ }bk d`~jk}x b`m hoaxkm/ D`dd`,had v{nochos

`lla{lhkm }bk VCVK aeek~cli, Cm, µ >>, ]bk x}ahj v~chk hoaxkm al G{lk 86/ >66=/

`} -00,33/ mayl 2,; + e~ad }bk G{lk >3 hoaxcli v~chk, Cm, µ >8, H{n`l `uacmkm

oaxxkx cl krhkxx ae -9;6/666 ns xkoocli bcx D`dd`,had xb`~kx v~ca~ }a }bk v{noch

`lla{lhkdkl}, Cm, µ >=, H{n`l lkuk~ mcxhoaxkm }a D`dd`,had }b`} bk y`x iacli

}a xkoo bcx xb`~kx v~ca~ }a }bk v{noch `lla{lhkdkl} ae }bk VCVK/ n{} o`}k~ v{nochos

x}`}km }b`} bk b`m xaom bcx xb`~kx nkh`{xk }bk hadv`ls y`x halm{h}cli ` VCVK,

Cm, µ >;,

H, V~ahkkmclix cl }bk Mcx}~ch} Ha{~}

Al Laukdnk~ 09/ >662/ }bk Haddcxxcal ecokm ` hadvo`cl} `i`clx} H{n`l cl

}bk Mcx}~ch} Ha{~} ea~ }bk La~}bkl Mcx}~ch} ae ]kr`x/ `ookicli }b`} bk b`m }~`mkm

 n`xkm al d`}k~c`o/ lalv{noch clea~d`}cal cl ucao`}cal ae Xkh}cal 09"`#/ Xkh}cal

06"n#/ `lm {ok 06n$;, Xkk ^K ]`n 5/ Hadvo, µµ >9$88, ]bk hadvo`cl} `ookikm

}b`} H{n`l/ `e}k~ a~`oos `i~kkcli }a d`cl}`cl cl halecmklhk clea~d`}cal bk ok`~lkm

e~ad `l krkh{}cuk `} D`dd`,had/ y`x icukl d`}k~c`o/ lalv{noch clea~d`}cal

5

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~ki`~mcli `l cddclkl} VCVK aeek~cli ns }bk hadv`ls `lm }~`mkm al }bk n`xcx ae 

}b`} clea~d`}cal cl n~k`hb ae bcx m{}s ae }~{x} a~ halecmklhk }a D`dd`,had, Xkk/

k,i,/ cm, µ >5, ]bk Haddcxxcal xa{ib} `l clg{lh}cal `i`clx} e{}{~k ucao`}calx/

mcxia~ikdkl} ae H{n`l–x `uacmkm oaxxkx/ vo{x v~kg{midkl} cl}k~kx}/ `lm ` hcuco

 vkl`o}s, Xkk/ k,i,/ cm, µ 8,

H{n`l daukm }a mcxdcxx }bk hadvo`cl} {lmk~ Ekmk~`o ^{ok ae Hcuco

V~ahkm{~k 0>"n#"5# ea~ e`co{~k }a x}`}k ` ho`cd, Bk `~i{km }b`} }bk Haddcxxcal

b`m la} `mkp{`}kos `ookikm }b`} bcx halm{h} y`x mkhkv}cuk/ `x c} d{x} nk }a xk}

ea~}b ` ho`cd ea~ ucao`}cli Xkh}cal 06"n#, Xkk XKH u, H{n`l/ 58= E, X{vv, >m 908/

902/ 9>0 "L,M, ]kr, >663#, ]bk ha{~} `i~kkm yc}b H{n`l–x iklk~`o hal}kl}cal }b`}

`l `i~kkdkl} }a d`cl}`cl }bk clea~d`}cal cl halecmklhk y`x clx{eechckl} }a x{vva~}

oc`ncoc}s, Xkk cm, } 9>;$>5, ]bk ha{~}/ baykuk~/ mcm la} }`jk }bcx ucky n`xkm al

`ls `~i{dkl} d`mk ns H{n`l, ]bk ha{~} bkom clx}k`m }b`} `l `i~kkdkl} d{x}/

kc}bk~ krvochc}os a~ cdvochc}os/ clho{mk `l {lmk~}`jcli ns }bk ~khcvckl} ae d`}k~c`o/

lalv{noch clea~d`}cal na}b }a jkkv c} cl halecmklhk `lm la} }a }~`mk al c} a~ 

a}bk~ycxk {xk c} ea~ vk~xal`o nklkec}, Xkk cm, } 9>;, ]bk ha{~} xxk~}km }b`}/ cl }bk

hal}kr} ae clea~d`}cal/ lal$mcxhoax{~k `lm lal${xk ~k oaich`oos mcx}clh}, Xkk cm,

]bk ha{~} bkom }b`} alk yba b`x {lmk~}`jkl }a d`cl}`cl clea~d`}cal cl halecmklhk

b`x `hhkv}km alos ` m{}s ae lal$mcxhoax{~k/ `lm cx e~kk }a {xk }bk clea~d`}cal ea~ 

9

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 vk~xal`o nklkec}, Xkk cm, ]bk ha{~} avclkm }b`} ‟Z`T vk~xal yba ~khkcukx d`}k~c`o/

lal$v{noch clea~d`}cal d`s cl e`h} v~kxk~uk }bk halecmkl}c`oc}s ae }b`} clea~d`}cal

ybcok xcd{o}`lka{xos {xcli c} ea~ bcx ayl i`cl,— Cm, ]bk ha{~} halho{mkm }b`} }bk

Haddcxxcal–x hadvo`cl} e`cokm }a `ookik }bk ‟lal${xk hadvalkl},— Cm, `} 986$80,

]bk ha{~} ~kgkh}km H{n`l–x hal}kl}calx }b`} ` m{}s la} }a }~`mk al d`}k~c`o/

lalv{noch clea~d`}cal d`s la} `~cxk e~ad `i~kkdkl} `oalk/ `lm clx}k`m ~kp{c~kx `

 v~kkrcx}cli ecm{hc`~s a~ ecm{hc`~s$ocjk ~ko`}calxbcv/ a~ `l `i~kkdkl} h~k`}cli `

~ko`}calxbcv }b`} nk`~x `oo }bk b`ood`~jx ae ` }~`mc}cal`o ecm{hc`~s ~ko`}calxbcv "x{hb

`x x{vk~ca~c}s/ madcl`lhk/ a~ hal}~ao#/ `lm }b`} }bk krcx}klhk ae ` ecm{hc`~s a~ 

ecm{hc`~s$ocjk ~ko`}calxbcv cx iauk~lkm krho{xcukos ns x}`}k o`y, Xkk cm, `} 9>0$>9,

]bk ha{~} ~k`xalkm }b`} }bk kxxkl}c`o m{}s cx la} }a {xk }bk clea~d`}cal ea~ vk~xal`o

i`cl `lm }b`} }bk~k cx ‟la `vv`~kl} ~k`xal— ybs }bcx m{}s h`lla} nk {lmk~}`jkl ns

`i~kkdkl}, Cm, `} 9>=,

]bk ha{~} halxcmk~km ybk}bk~ Haddcxxcal ^{ok 06n;$> u`ocmos cdvaxkm `

m{}s la} }a {xk }bk clea~d`}cal, ^{ok 06n;$>"n#"0# v~aucmkx }b`} ‟‒` m{}s ae }~{x}

a~ halecmklhk– krcx}x , , , ZyTbklkuk~ ` vk~xal `i~kkx }a d`cl}`cl clea~d`}cal cl

halecmklhk,— 09 H,E, , >=6,06n;$>"n#"0#, ]bk ha{~} halho{mkm }b`} }bk ^{ok/ ns

c}x }k~dx/ v{~va~}x }a cdvaxk oc`ncoc}s n`xkm al `l `i~kkdkl} }b`} o`hjx }bk

~kp{cxc}k m{}s la} }a }~`mk al a~ a}bk~ycxk {xk }bk halecmkl}c`o clea~d`}cal, Xkk

2

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58= E, X{vv, >m } 986, ]bk ha{~} }bk~kea~k bkom }b`} }a cdvaxk oc`ncoc}s {lmk~ }bk

^{ok ya{om krhkkm }bk `{}ba~c}s i~`l}km }a }bk Haddcxxcal ns Hali~kxx v{~x{`l}

}a Xkh}cal 06"n# }a v~axh~cnk halm{h} }b`} cx mkhkv}cuk, Xkk cm, } 980, ]bk ha{~}

la}km }b`}/ cl ocib} ae c}x halho{xcal al }bcx cxx{k/ }bk~k y`x la lkkm }a `mm~kxx

H{n`l–x `~i{dkl} }b`} }bk ^{ok makx la} `vvos }a bcx n{xclkxx ~ko`}calxbcv yc}b

D`dd`,had nkh`{xk }bk ^{ok cx ocdc}km }a e`dcos `lm a}bk~ vk~xal`o

~ko`}calxbcvx, Xkk cm, } 9>2 l,3, ]bk ha{~} lkuk~}bkokxx x}`}km }b`}/ ce c} yk~k }a

~k`hb }bcx p{kx}cal/ c} ya{om ~kgkh} x{hb ocdc}`}cal al }bk ^{ok, Xkk cm,> 

X[DD@^S AE @^I[DKL]

Xkh}cal 06"n# ae }bk Xkh{~c}ckx Krhb`lik @h} `lm ^{ok 06n$; }bk~k{lmk~ 

 v~abcnc} mkhkv}cal cl hallkh}cal yc}b }bk v{~hb`xk a~ x`ok ae xkh{~c}ckx, @ vk~xal

yba an}`clx d`}k~c`o/ lalv{noch clea~d`}cal ns `i~kkcli yc}b }bk xa{~hk ae }bk

clea~d`}cal }a d`cl}`cl }bk clea~d`}cal cl halecmklhk/ `lm }bkl }~`mkx xkh{~c}ckx

 n`xkm al }b`} clea~d`}cal yc}ba{} mcxhoax{~k }a }bk xa{~hk/ `x H{n`l mcm bk~k/ e`oox

yc}bcl }bk xhavk ae }bk dcx`vv~av~c`}cal }bka~s ae clxcmk~ }~`mcli/ `x `mav}km ns

}bk X{v~kdk Ha{~}, ]bk mcx}~ch} ha{~} mcxdcxxkm }bk hadvo`cl} al }bk i~a{lm }b`}

c} mcm la} `mkp{`}kos `ookik }b`} H{n`l mkhkcukm }bk xa{~hk ae }bk clea~d`}cal, Cl

> H{n`l `oxa daukm }a mcxdcxx {lmk~ Ekmk~`o ^{ok ae Hcuco V~ahkm{~k 3"n#/ n{} }bk ha{~} ~kgkh}km }bcx `~i{dkl}/ baomcli }b`} ‟}bk hadvo`cl} cx x{eechckl}os v`~}ch{o`~ }a x`}cxes ^{ok 3"n#,— 58= E, X{vv, >m } 903 l,8,

3

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xa macli/ }bk ha{~} d`mk }b~kk k~~a~x/ k`hb ae ybchb v~aucmkx `l clmkvklmkl} n`xcx

ea~ ~kuk~x`o,

Ec~x}/ }bk mcx}~ch} ha{~} halho{mkm/ yc}ba{} hc}`}cal }a `{}ba~c}s/ }b`} `l

`i~kkdkl} }a jkkv clea~d`}cal halecmkl}c`o makx la} klhadv`xx `l `i~kkdkl} la}

}a }~`mk/ `lm }bk~kea~k }~`mcli xkh{~c}ckx kukl `e}k~ `i~kkcli }a jkkv clea~d`}cal

halecmkl}c`o makx la} mkhkcuk }bk xa{~hk ae }bk clea~d`}cal, ]bk mcx}~ch} ha{~}

e`cokm }a icuk v~avk~ mkek~klhk }a Haddcxxcal ^{ok 06n;$>"n#"0#/ ybchb v~aucmkx

}b`} `l `i~kkdkl} }a d`cl}`cl clea~d`}cal cl halecmklhk icukx ~cxk }a ` m{}s }b`}

d`jkx }~`mcli al }bk halecmkl}c`o clea~d`}cal yc}ba{} mcxhoax{~k mkhkv}cuk,

Nkh`{xk }bk }kr} ae Xkh}cal 06"n# `ooayx }bk cl}k~v~k}`}cal ae mkhkv}cal kdnamckm

cl ^{ok 06n;$>"n#"0#/ `lm nkh`{xk }b`} cl}k~v~k}`}cal ae Xkh}cal 06"n# cx

~k`xal`nok/ }bk ^{ok cx kl}c}okm }a Hbku~al mkek~klhk,

Xkhalm/ }bk mcx}~ch} ha{~}–x halho{xcal cx y~ali kukl `v`~} e~ad ^{ok

06n;$>"n#"0#, ]~`mcli al d`}k~c`o/ lalv{noch clea~d`}cal `e}k~ `i~kkcli }a

d`cl}`cl c} cl halecmklhk cx mkhkv}cuk {lmk~ }bk da~k iklk~`o }k~dx ae Xkh}cal

06"n# `lm ^{ok 06n$;,

]bc~m/ cl `ls kukl}/ }bk hadvo`cl} x{eechckl}os `ookikx }b`} H{n`l krvochc}os

`i~kkm la} }a }~`mk/ d`jcli bcx x{nxkp{kl} {lmcxhoaxkm }~`mcli mkhkv}cuk, ]bcx cx

la} alos ` ~k`xal`nok clek~klhk/ n{} }bk dax} ~k`xal`nok clek~klhk }a m~`y e~ad

06

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H{n`l–x x}`}kdkl}‘d`mk `e}k~ `i~kkcli }a jkkv clea~d`}cal halecmkl}c`o `lm }bkl

 nkcli }aom }bk clea~d`}cal‘‟Ykoo/ lay C–d xh~kykm, C h`l–} xkoo,— Cl `mmc}cal/ }bk

hadvo`cl} `ookikm }b`} H{n`l ‟`hjlayokmiZkmT }b`} bk ha{om la} xkoo— v~ca~ }a }bk

clea~d`}cal nkcli d`mk v{noch,

X]@LM@^M AE ^KUCKY

]bk i~`l} ae ` da}cal }a mcxdcxx cx ~kuckykm mk laua, Xkk B`~~cli}al u,

X}`}k E`~d Ec~k % H`x, Ha,/ ;58 E,8m 0=0/ 0=9 ";}b Hc~, >663#, Mcxdcxx`o cx

cl`vv~av~c`}k {lokxx ` hadvo`cl}/ halx}~{km yc}b `oo ykoo$vok`mkm e`h}x `hhkv}km `x

}~{k `lm uckykm cl }bk ocib} dax} e`ua~`nok }a }bk vo`cl}cee/ xkk/ k,i,/ Ialw`okw u,

J`s/ ;99 E,8m 566/ 568 ";}b Hc~, >663#/ vk}c}cal ea~ hk~}, ecokm/ 92 [,X,O,Y, 8>3;

"[,X, Ah}, 3/ >663# "La, 63$;=>#/ e`cox ‟}a x}`}k ` ho`cd }a ~kocke }b`} cx vo`{xcnok al

c}x e`hk/— Nkoo @}o, Ha~v, u, ]yadnos/ ;;6 [,X, ;==/ ;96 ">669#, ‟@ ho`cd b`x

e`hc`o vo`{xcncoc}s ybkl }bk vo`cl}cee vok`mx e`h}{`o hal}kl} }b`} `ooayx }bk ha{~} }a

m~`y }bk ~k`xal`nok clek~klhk }b`} }bk mkeklm`l} cx oc`nok ea~ }bk dcxhalm{h}

`ookikm,— @xbh~ae} u, Cpn`o/ 0>3 X, H}, 0389/ 03=3 ">663#,

00

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 @^I[DKL]

]BK MCX]^CH] HA[^] K^^KM CL BAOMCLI ]B@] ]BK HADVO@CL]

E@COKM @MKP[@]KOS ]A @OOKIK MKHKV]CAL @X ^KP[C^KM

[LMK^ XKH]CAL 06"n# @LM ^[OK 06n$;,

]bk alos kokdkl} ae `l clxcmk~ }~`mcli ucao`}cal {lmk~ Xkh}cal06"n# `lm

^{ok 06n$; cl mcxv{}k bk~k cx }bk ~kp{c~kdkl} ae ‟mkhkv}cal,— ]bk mcx}~ch} ha{~}

k~~km cl baomcli }b`} }bk hadvo`cl} e`cokm }a `ookik }b`} H{n`l mkhkcukm

D`dd`,had ns }~`mcli al d`}k~c`o/ lalv{noch clea~d`}cal bk b`m `i~kkm }a

d`cl}`cl cl halecmklhk, ]bk hkl}~`o v~kdcxk ae }bk mcx}~ch} ha{~}–x baomcli cx }b`}

}bk~k cx ` ‟oaich`oZT— mceek~klhk nk}ykkl `l `i~kkdkl} }a d`cl}`cl clea~d`}cal cl

halecmklhk `lm `l `i~kkdkl} la} }a }~`mk al c}, 58= E, X{vv, >m `} 9>;,

Haddcxxcal ^{ok 06n;$>"n#"0# krvochc}os cx }a }bk hal}~`~s/ x}`}cli }b`} ` ‟‒m{}s ae 

}~{x} a~ halecmklhk– krcx}x , , , ZyTbklkuk~ ` vk~xal `i~kkx }a d`cl}`cl clea~d`}cal

cl halecmklhk,— ]b`} ~{ok cx ` ~k`xal`nok cl}k~v~k}`}cal ae Xkh}cal 06"n# `lm/ x

x{hb/ cx kl}c}okm }a mkek~klhk e~ad }bcx Ha{~}, Kukl cl }bk `nxklhk ae ^{ok

06n;$>"n#"0#/ h`xko`y/ oaich/ `lm krvk~cklhk d`jk hok`~ }b`} `l `i~kkdkl} }a

d`cl}`cl clea~d`}cal cl halecmklhk klhadv`xxkx `l `i~kkdkl} la} }a }~`mk al }bk

clea~d`}cal, @hha~mclios/ }bk hadvo`cl} x{eechckl}os `ookikm }b`} H{n`l aykm `

m{}s }a bcx xa{~hk ae clea~d`}cal la} }a }~`mk/ `lm bcx }~`mcli yc}ba{} mcxhoax{~k }a

bcx xa{~hk y`x }bk~kea~k ` mkhkv}cuk n~k`hb ae }b`} m{}s,

0>

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@, H{n`l–x @i~kkdkl} }a Jkkv Clea~d`}cal Halecmkl}c`o I`uk ^cxk }a `

M{}s La} }a ]~`mk/ `lm Bcx [lmcxhoaxkm ]~`mcli Y`x ]bk~kea~k

Mkhkv}cuk/ cl Ucao`}cal ae Xkh}cal 06"n# `lm ^{ok 06n$;,

0, ]bk dcx`vv~av~c`}cal }bka~s ae clxcmk~ }~`mcli/ `x `mav}km ns }bkX{v~kdk Ha{~}/ v~abcnc}x }~`mcli al }bk n`xcx ae d`}k~c`o/

lalv{noch clea~d`}cal cl n~k`hb ae ` m{}s }a }bk xa{~hk ae }bk

clea~d`}cal,

Cl [lc}km X}`}kx u, A–B`i`l/ ;>0 [,X, 5=> "0339#/ }bk X{v~kdk Ha{~}

~kuckykm }bk o`li{`ik `lm v{~vaxkx ae Xkh}cal 06"n# `lm ^{ok 06n$; `lm `mav}km

}bk dcx`vv~av~c`}cal }bka~s ae clxcmk~ }~`mcli, [lmk~ }bcx }bka~s/ ‟` vk~xal

haddc}x e~`{m ‒cl hallkh}cal yc}b– ` xkh{~c}ckx }~`lx`h}cal/ `lm }bk~kns ucao`}kx

© 06"n# `lm ^{ok 06n$;/ ybkl bk dcx`vv~av~c`}kx halecmkl}c`o clea~d`}cal ea~ 

xkh{~c}ckx }~`mcli v{~vaxkx/ cl n~k`hb ae ` m{}s aykm }a }bk xa{~hk ae }bk

clea~d`}cal,— ;>0 [,X, } 5;>, A–B`i`l y`x ` v`~}lk~ cl ` o`y ec~d }b`} y`x

bc~km }a ~kv~kxkl} ` hadv`ls halxcmk~cli d`jcli ` }klmk~ aeek~, Xkk cm, `} 5=9,

]bk hockl} hadv`ls xb`~km c}x halecmkl}c`o }klmk~ aeek~ vo`lx yc}b alk ae 

A–B`i`l–x v`~}lk~x/ lm }b`} v`~}lk~ xb`~km }bk clea~d`}cal yc}b A–B`i`l, Xkk

cm, A–B`i`l }bkl }~ mkm cl }bk xkh{~c}ckx ae }bk }`~ik} hadv`ls n`xkm al }bk

clea~d`}cal ea~ ` vk~xal`o v~aec}, Xkk cm,

]bk Ha{~} la}km }b`} {lmk~ }bk ho`xxch`o }bka~s ae clxcmk~ }~`mcli/ `

ha~va~`}k clxcmk~ cx oc`nok ybkl bk }~`mkx cl }bk xkh{~c}ckx ae bcx ha~va~`}cal al }bk

 n`xcx ae d`}k~c`o/ lalv{noch clea~d`}cal, Xkk cm, } 5;0$;>, ]bcx }~`mcli cluaoukx

08

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}bk {xk ae ` ‟mkhkv}cuk mkuchk— yc}bcl }bk dk`lcli ae Xkh}cal 06"n# nkh`{xk

clxcmk~x yc}b `hhkxx }a }bk ha~va~`}cal–x halecmkl}c`o clea~d`}cal `~k cl `

~ko`}calxbcv ae }~{x} `lm halecmklhk yc}b }bk ha~va~`}cal–x xb`~kbaomk~x yc}b

ybad }bks }~`mk, Cm, `} 5;>, ]b`} ~ko`}calxbcv icukx ~cxk }a m{}s kc}bk~ }a

mcxhoaxk }bk clea~d`}cal a~ `nx}`cl e~ad }~`mcli xa `x la} }a }`jk `mu`l}`ik ae 

{lclea~dkm xb`~kbaomk~x, Xkk cm,

[lmk~ }bk hadvokdkl}`~s dcx`vv~av~c`}cal }bka~s/ `mav}km cl A–B`i`l/ `

 vk~xal haddc}x e~`{m cl hallkh}cal yc}b ` xkh{~c}ckx }~`lx`h}cal ‟ybkl bk

dcx`vv~av~c`}kx halecmkl}c`o clea~d`}cal ea~ xkh{~c}ckx }~`mcli v{~vaxkx/ cl n~k`hb

ae ` m{}s aykm— la} }a }bk vk~xal yc}b ybad bk }~`mkx/ `x {lmk~ }bk ho`xxch`o

}bka~s/ n{} ‟}a }bk xa{~hk ae }bk clea~d`}cal,— Cm, [lmk~ }bcx }bka~s/ }bk

dcx`vv~av~c`}a~ mke~`{mx bcx xa{~hk ae }bk krho{xcuk {xk ae }bk clea~d`}cal, Xkk

cm, `} 5;= "mkkdcli x{hb e~`{m ‟`jcl }a kdnkwwokdkl}—#, ]bk }bka~s }`~ik}x

}~`mcli al }bk n`xcx ae d`}k~c`o/ lalv{noch clea~d`}cal ns `ls ‟a{}xcmk~— }a `

ha~va~`}cal yba }~`mkx ‟cl n~k`hb ae ` m{}s aykm la} }a ` }~`mcli v`~}s/ n{} }a }bk

xa{~hk ae }bk clea~d`}cal , , , yba kl}~{x}km bcd yc}b `hhkxx }a halecmkl}c`o

clea~d`}cal,— Cm, `} 5;>$;8,8

8 ]bk Ha{~} anxk~ukm }b`}/ ‟ZnTkh`{xk }bk mkhkv}cal kxxkl}c`o }a }bkdcx`vv~av~c`}cal }bka~s cluaoukx ekcilcli ecmkoc}s }a }bk xa{~hk ae clea~d`}cal/— ce }bk }~`mk~ e{oos mcxhoaxkx }a }bk xa{~hk }b`} bk vo`lx }a }~`mk al }bk clea~d`}cal/}bk~k cx la ‟mkhkv}cuk mkuchk— lm }b{x la Xkh}cal 06"n# ucao`}cal, Cm, `} 5;;,

0=

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  >, Haddcxxcal {ok 06n;$>"n#"0#/ ns c}x vo`cl }k~dx/ xk}x ea~}b `

m{}s al H{n`l {lmk~ Xkh}cal 06"n# `lm ^{ok 06n$; la} }a }~`mk

nkh`{xk bk `i~kkm }a d`cl}`cl }bk clea~d`}cal cl halecmklhk,

Haddcxxcal ^{ok 06n;$>"n#"0# cl}k~v~k}x Xkh}cal 06"n# ae }bk Krhb`lik

@h} `lm cdvokdkl}x }bk dcx`vv~av~c`}cal }bka~s ae clxcmk~ }~`mcli, Xkh}cal 06"n#

 v~aucmkx }b`} c} cx {lo`ye{o }a {xk a~ kdvoas/ cl hallkh}cal yc}b }bk v{~hb`xk a~ 

x`ok ae `ls xkh{~c}s/ `ls d`lcv{o`}cuk a~ mkhkv}cuk mkuchk cl hal}~`ukl}cal ae 

Haddcxxcal ~{okx, @x la}km/ mkhkv}cal cx }bk alos kokdkl} ae ` Xkh}cal 06"n#

ucao`}cal `} cxx{k cl }bcx h`xk, ^{ok 06n$;/ 09 H,E,^, >=6,06n$;/ v~aucmkx/ cl

~koku`l} v`~}/ }b`} c} xb`oo nk {lo`ye{o }a kdvoas `ls mkuchk/ xhbkdk/ a~ `~}cechk }a

mke~`{m/ a~ }a kli`ik cl `ls `h} ybchb avk~`}kx `x ` e~`{m al `ls vk~xal,

^{ok 06n;$>/ 09 H,E,^, >=6$06n;$>/ kl}c}okm ‟M{}ckx ae ]~{x} a~ Halecmklhk

cl Dcx`vv~av~c`}cal Clxcmk~ ]~`mcli H`xkx/— x}`}kx }b`} c} `vvockx }a `ls ucao`}cal

ae Xkh}cal 06"n# `lm ^{ok 06n$; }b`} ‟cx n`xkm al }bk v{~hb`xk a~ x`ok ae xkh{~c}ckx

al }bk n`xcx ae/ a~ }bk hadd{lch`}cal ae/ d`}k~c`o lalv{noch clea~d`}cal

dcx`vv~av~c`}km cl n~k`hb ae ` m{}s ae }~{x} a~ halecmklhk,—

]bk ^{ok kl{dk~`}kx hc~h{dx}`lhkx icucli ~cxk }a ` m{}s ae }~{x} a~ 

halecmklhk, Ae v`~}ch{o`~ ~koku`lhk bk~k/ ^{ok 06n;$>"n#"0# v~aucmkx }b`} ` ‟m{}s

ae }~{x} a~ halecmklhk— krcx}x ‟ZyTbklkuk~ ` vk~xal `i~kkx }a d`cl}`cl clea~d`}cal

cl halecmklhk,—

0;

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Cl }bcx h`xk/ }bk hadvo`cl} `ookikm }b`} H{n`l ‟`i~kkm }b`} bk ya{om jkkv

yb`}kuk~ clea~d`}cal }bk HKA cl}klmkm }a xb`~k yc}b bcd halecmkl}c`o,— ^K ]`n

5/ Hadvo, `} µ 0=, ^{ok 06n;$>"n#"0# }bk~kea~k vvockx bk~k ns c}x vo`cl }k~dx,

V{~x{`l} }a }bk ^{ok/ H{n`l y`x ~kp{c~km kc}bk~ }a `nx}`cl e~ad }~`mcli a~ }a

mcxhoaxk }a D`dd`,had }b`} bk y`x iacli }a }~`mk nkea~k }bk v{noch

`lla{lhkdkl} ae }bk aeek~cli, Ns }~`mcli cl n~k`hb ae }bk m{}s ~cxcli e~ad bcx

`i~kkdkl}/ H{n`l mkhkcukm D`dd`,had `lm ucao`}km Xkh}cal 06"n# `lm ^{ok

06n$;,

8, Haddcxxcal {ok 06n;$>"n#"0# kdnamckx ` u`ocm cl}k~v~k}`}cal ae 

}bk mkhkv}cal ~kp{c~kdkl} ae Xkh}cal 06"n# `lm cx kl}c}okm }a

Hbku~al mkek~klhk,

]bk Haddcxxcal–x `mav}cal ae ^{ok 06n;$>"n#"0# cx x{ngkh} }a ~kucky {lmk~ 

}bk `l`os}ch`o e~`dkya~j xk} a{} cl Hbku~al [,X,@,/ Clh, u, L`}{~`o ^kxa{~hkx

Mkeklxk Ha{lhco/ Clh,/ =59 [,X, 289/ 2=>$== "032=#, Xkk L`}cal`o H`nok %

]kokhadd, @xx–l u, N~`lm R Cl}k~lk} Xk~u,/ ;=; [,X, 359/ 326$20 ">66;#: [lc}km

X}`}kx u, ^ask~/ ;=3 E,8m 225/ 233 ">m Hc~, >662# "icucli Hbku~al mkek~klhk }a

Haddcxxcal ^{ok 06n;$0#, [lmk~ Hbku~al/ ha{~}x d{x} mkek~ }a }bk

Haddcxxcal–x cl}k~v~k}`}cal ae Xkh}cal 06"n# ce Hali~kxx b`x la} ‟{l`dnci{a{xos

ea~ncmmkl Z}bk cl}k~v~k}`}calT `lm c} cx , , , ‒n`xkm al ` vk~dcxxcnok halx}~{h}cal ae 

}bk x}`}{}k,–— La~}bvacl} ]khb, u, EHH/ =0= E,8m 50/ 53 "M,H, Hc~, >66;# "p{a}cli

05

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Hbku~al/ =59 [,X, } 2=>$=8#, [lmk~ }bk ec~x} x}kv ae Hbku~al/ ‟ZcTe }bk cl}kl} ae 

Hali~kxx cx hok`~/ }b`} cx }bk klm ae }bk d`}}k~: ea~ }bk ha{~}/ `x ykoo `x }bk `iklhs/

d{x} icuk keekh} }a }bk {l`dnci{a{xos krv~kxxkm cl}kl} ae Hali~kxx,— =59 [,X, `}

2=>$=8, ]bk Haddcxxcal–x cl}k~v~k}`}cal v`xxkx }bk ec~x} x}kv ce }bk x}`}{}k–x

‟vo`cl }k~dx— ma la} ‟‒mc~kh}os mm~kxZxT }bk v~khcxk p{kx}cal `} cxx{k,–— N~`lm R/

;=; [,X, `} 325 "p{a}cli Hbku~al/ =59 [,X, `} 2=8#,

[lmk~ }bk xkhalm x}kv ae }bk Hbku~al `l`osxcx/ }bk p{kx}cal cx ybk}bk~ }bk

Haddcxxcal–x cl}k~v~k}`}cal kdnamckm cl ^{ok 06n;$>"n#"0# ae ‟`ls mkhkv}cuk

mkuchk a~ hal}~cu`lhk— cx ` ‟vk~dcxxcnok/— }b`} cx/ ‟~k`xal`nok/— halx}~{h}cal ae 

}b`} vb~`xk, Hbku~al/ =59 [,X, `} 2=8$==, @ ha{~} d`s la} xk} `xcmk }bk

Haddcxxcal–x ~k`xal`nok cl}k~v~k}`}cal cl e`ua~ ae `l `o}k~l`}cukos vo`{xcnok "a~ 

kukl nk}}k~# alk, Xkk N~`lm R/ ;=; [,X, } 326, ]bk Ha{~} xba{om `vvos }bk

Hbku~al `l`osxcx bk~k dclme{o ae }bk X{v~kdk Ha{~}–x ~kvk`}km `mdalc}cal }b`}

Xkh}cal 06"n# xba{om nk halx}~{km ‟‒la} }khblch`oos `lm ~kx}~ch}cukos/ n{} eokrcnos

}a keekh}{`}k c}x ~kdkmc`o v{~vaxkx,–— XKH u, W`lmea~m/ ;8; [,X, 208/ 203 ">66>#

"p{a}cli XKH u, H`vc}`o I`clx ^kxk`~hb N{~k`{/ 89; [,X, 026/ 025 "0358##,

]bk Haddcxxcal–x cl}k~v~k}`}cal ae Xkh}cal 06"n# kdnamckm cl c}x ~{okx

halxcx}x ae }ya v`~}x, Ec~x}/ ^{ok 06n;$>"n#"0# halxcmk~x {lmcxhoaxkm }~`mcli cl

 n~k`hb ae ` m{}s }b`} cx {lmk~}`jkl xaokos ns `i~kkdkl} }a nk mkhkv}cuk/ kukl cl

09

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}bk `nxklhk ae v~k$krcx}cli ecm{hc`~s ~ko`}calxbcv, Xkhalm/ ^{ok 06n;$>"n#"0#

halxcmk~x x{hb {lmcxhoaxkm }~`mcli }a nk mkhkv}cuk cl }bk e`hk ae `l `i~kkdkl} }a

d`cl}`cl d`}k~c`o/ lalv{noch clea~d`}cal cl halecmklhk kukl ce }bk `i~kkdkl}

c}xkoe makx la} krvochc}os v~abcnc} }~`mcli, ]bk ^{ok cx u`ocm {lmk~ Hbku~al, K`hb

ae }bkxk `xvkh}x ae }bk Haddcxxcal–x cl}k~v~k}`}cal cx ~k`xal`nok `lm lkc}bk~ cx

{l`dnci{a{xos ea~ncmmkl ns }bk }kr} ae Xkh}cal 06"n#,

`, [lmk~ Xkh}cal 06"n#/ ` m{}s ae }~{x} a~ halecmklhk d`s `~cxk

ns `i~kkdkl},

@x ^{ok 06n;$>"n#"0# v~aucmkx/ ` m{}s ae }~{x} a~ halecmklhk d`s `~cxk ns

`i~kkdkl}/ x{hb }b`} }~`mcli al }bk halecmkl}c`o clea~d`}cal/ ybcok v~k}klmcli }a

e`c}be{oos x`eki{`~m c}/ mkhkcukx }bk xa{~hk ae }bk clea~d`}cal `lm }bk~kea~k

x`}cxeckx }bk ‟mkhkv}cal— ~kp{c~kdkl} ae Xkh}cal 06"n#, ]bcx cl}k~v~k}`}cal cx e{oos

halxcx}kl} yc}b Xkh}cal 06"n#,

]bk X{v~kdk Ha{~} cl A–B`i`l d`mk hok`~ }b`} {lmcxhoaxkm }~`mcli `e}k~ 

`i~kkcli }a jkkv clea~d`}cal halecmkl}c`o cx ` }svk ae mkhkv}cal yc}bcl }bk xhavk

ae Xkh}cal 06"n#, Ybk}bk~ a~ la} vk~xal yba b`x `i~kkm }a d`cl}`cl clea~d`}cal

cl halecmklhk cx ` ba~lnaaj ecm{hc`~s/ }b`} x}`}{x cx la} kxxkl}c`o }a Xkh}cal 06"n#

a~ }bk }svk ae mkhkv}cal }`~ik}km ns }bk dcx`vv~av~c`}cal }bka~s ~khailcwkm cl

A–B`i`l, Hk~}`clos la}bcli cl }bk }kr} ae Xkh}cal 06"n# c}xkoe ~kp{c~kx ecm{hc`~s

x}`}{x, ]bk A–B`i`l h`xk/ o}ba{ib cluaoucli ` ecm{hc`~s " l `}}a~lks#/ mcm la}

02

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baom }b`} `vvoch`}cal ae }bk dcx`vv~av~c`}cal }bka~s }a ecm{hc`~ckx y`x }bk alos

 vk~dcxxcnok halx}~{h}cal ae Xkh}cal 06"n#, @e}k~ hc}cli }a `l ~}chok ns V~aekxxa~ 

@om`uk xkuk~`o }cdkx cl x{vva~} ae c}x `mav}cal ae }bk dcx`vv~av~c`}cal }bka~s/ }bk

A–B`i`l Ha{~} `vv~auclios p{a}km }bk `~}chok–x x}`}kdkl} }b`} }bk }bka~s n`~x

‟}~`mcli al }bk n`xcx ae clea~d`}cal }b`} }bk y~alimak~ haluk~}km }a bcx ayl {xk

cl ucao`}cal ae xadk ecm{hc`~s/ hal}~`h}{`o/ a~ xcdco`~ anoci`}cal }a }bk aylk~ a~ 

~cib}e{o vaxxkxxa~ ae }bk clea~d`}cal,— ;>0 [,X, `} 558 "kdvb`xcx `mmkm# "p{a}cli

N`~n`~` N`mk~ @om`uk/ ‟Dcx`vv~av~c`}cal7 @ Iklk~`o ]bka~s ae Oc`ncoc}s ea~ 

]~`mcli al Lalv{noch Clea~d`}cal/— 08 Baex}~` O, ^ku, 060/ 0>> "032=##,

]bk mcx}~ch} ha{~}/ `e}k~ la}cli }b`} }bk kxxkl}c`o m{}s ea~ dcx`vv~av~c`}cal

oc`ncoc}s cx ` m{}s la} }a {xk }bk clea~d`}cal ea~ vk~xal`o i`cl/ ybchb d`jkx }bk

{lmcxhoaxkm }~`mcli al }bk clea~d`}cal mkhkv}cuk/ ha~~kh}os halho{mkm }b`} }bk~k cx

‟la `vv`~kl} ~k`xal— ybs }bcx m{}s h`lla} nk {lmk~}`jkl ns `i~kkdkl}, H{n`l/

58= E, X{vv, >m `} 9>=, ]bk mcx}~ch} ha{~} `oxa ha~~kh}os x}`}km }b`} }bk~k cx kukl

i~k`}k~ ~k`xal }a cdvaxk ` m{}s ybk~k alk xvkhcech`oos `lm mc~kh}os {lmk~}`jkx c}

 ns `i~kkdkl} }b`l ybk~k }bk m{}s clmc~kh}os `~cxkx e~ad ` ecm{hc`~s ~ko`}calxbcv ns

avk~`}cal ae o`y, Xkk cm, } 9>;,= 

@lm/ `x }bk mcx}~ch} ha{~} ~khailcwkm/ cdvaxcli `

= Xkk ]bad`x Okk B`wkl/ ; O@Y AE XKH[^C]CKX ^KI[O@]CAL©0=,>> "5}b km,# l,3;,0; "`u`co`nok al Ykx}o`y# "‟Z]Tbk `vvoch`nok x}`}{}a~so`li{`ik ~kp{c~kx mkhkv}cuk halm{h} `lm c} ya{om `vvk`~ }b`} v~adcxcli }a {vbaom` halecmklhk `lm }bkl n~k`hbcli }bk m{}s xa h~k`}km h`l v~avk~os nk hb`~`h}k~cwkm

03

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m{}s ns `i~kkdkl} cx e{oos halxcx}kl} yc}b }bk X{v~kdk Ha{~}–x `mdalc}cal }b`} `

m{}s ae mcxhoax{~k cl }bk clxcmk~ }~`mcli hal}kr} makx la} ~{l }a kuk~s v`~}chcv`l} cl

}bk d`~jk}vo`hk/ n{} d{x} `~cxk e~ad ~ko`}calxbcv nk}ykkl }ya v`~}ckx, Xkk cm, `}

9>=$>;, Bk~k/ }bk m{}s ~{lx alos e~ad }bk halecm`l} }{~lkm }~`mk~ }a }bk a}bk~ 

 v`~}s }a }bk halecmkl}c`oc}s `i~kkdkl},

Ecl`oos/ }bcx Ha{~} b`x anxk~ukm/ n`xkm al x}`}kdkl}x cl xkuk~`o X{v~kdk

Ha{~} mkhcxcalx "clho{mcli A–B`i`l#/ }b`} ‟` mkuchk/ x{hb `x ` xhbkdk/ cx la}

‒mkhkv}cuk– {lokxx c} cluaoukx n~k`hb ae xadk m{}s ae h`lmcm mcxhoax{~k,— ^kikl}x

ae }bk [lcu, ae H`oce, u, H~kmc} X{cxxk Ec~x} Nax}al/ =2> E,8m 89>/ 823 ";}b Hc~,

>669#, Yk b`uk x{hb ` n~k`hb ae m{}s bk~k, H{n`l }~`mkm yc}ba{} d`jcli `ls

mcxhoax{~k }a }bk xa{~hk ae }bk clea~d`}cal/ a~ an}`clcli halxkl} }a }~`mk e~ad }bk

xa{~hk, Yk la}k/ lkuk~}bkokxx/ }b`} }bk X{v~kdk Ha{~} b`x d`mk hok`~ cl

X}alk~cmik Clukx}dkl} V`~}lk~x OOH u, Xhckl}cech$@}o`l}`/ ;;> [,X, 0=2 ">662#/

}b`} Xkh}cal 06"n# cx n~a`m kla{ib }a hauk~ mkhkv}cuk halm{h} `nxkl} ` n~k`hb ae 

m{}s, Xkk X}alk~cmik/ ;;> [,X, `} 0;2 "~kgkh}cli oayk~ ha{~}–x ucky }b`} mkhkv}cal

{lmk~ Xkh}cal 06"n# cx ocdc}km }a ‟dcxx}`}kdkl}x/ adcxxcalx ns alk yba b`x ` m{}s

"eaa}la}k hal}cl{km ,,,#`x mkhkv}cuk, C} ya{om eaooay }b`} ^{ok 06n;$> cx la} nksalm }bk XKH–x~{okd`jcli `{}ba~c}s, @hha~mclios/ n~k`hb ae ` hal}~`h}{`o halecmkl}c`oc}s`i~kkdkl} h`l ea~d }bk n`xcx ae ` ^{ok 06n$; clxcmk~ }~`mcli ucao`}cal,—#

>6

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`e}k~ v{noch la}chk `lm haddkl} `lm al }bk n`xcx ae c}x krvk~}cxk cl ~ki{o`}cli }bk

xkh{~c}ckx d`~jk}x ‘ }b`} `l `i~kkdkl} }a d`cl}`cl clea~d`}cal ‟cl halecmklhk—

icukx ~cxk }a ` m{}s ae ‟}~{x} a~ halecmklhk,— ]bk Haddcxxcal–x mk}k~dcl`}cal

bkyx hoaxkos }a }bk oc}k~`o dk`lcli ae ‟halecmklhk,— Clmkkm/ ` ‟halecmklhk— "`

xkh~k}# cx ns mkeclc}cal clea~d`}cal kl}~{x}km ns alk vk~xal }a `la}bk~ cl

‟halecmklhk,—;

]bcx cx halxcx}kl} yc}b A–B`i`l, ]bk Ha{~}/ `x la}km/ mcm la} ocdc} }bk

xhavk ae }bk dcx`vv~av~c`}cal }bka~s }a v~kuca{xos ~khailcwkm }svkx ae ecm{hc`~s

~ko`}calxbcvx,5 ]bk Ha{~} ~k`xalkm }b`} ybk~k alk cx ` ecm{hc`~s `lm `hp{c~kx

halecmkl}c`o clea~d`}cal e~ad bcx v~clhcv`o/ }bk v~clhcv`o cx }bk ~cib}e{o aylk~ ae 

}bk clea~d`}cal, ;>0 [,X, `} 558, @x }bk Ha{~} x}`}km/ ‟Z`T hadv`ls–x halecmkl}c`o

;

‟Halecmklhk— halla}kx ‟Z`T }~{x}cli ~ko`}calxbcv:— ‟}~{x} a~ e`c}b cl ` vk~xal , , ,:— ‟Z`T ekkocli ae `xx{~`lhk:— ]bk @dk~ch`l Bk~c}`ik Mch}cal`~s ae }bkKliocxb O`li{`ik/ Ea{~}b Km, "Ba{ib}al Dceeocl >663#: `lm ‟` ~ko`}calxbcv `xhalecm`l}:— Yknx}k~–x Lky Ya~om Mch}cal`~s "Ycoks V{nocxbcli/ Clh, >66;#,‟]~{x}— cx mkeclkm `x ‟`xx{~km ~koc`lhk al }bk hb`~`h}k~/ `ncoc}s/ x}~kli}b/ a~ }~{}bae xadkalk a~ xadk}bcli,— Dk~~c`d$Yknx}k~ Aloclk Mch}cal`~s,

5 Kukl ce }bk A–B`i`l Ha{~} b`m avclkm }b`} mkhkv}cal ~kp{c~kx xadk}bclida~k }b`l `l `i~kkdkl} }a jkkv clea~d`}cal halecmkl}c`o/ }bk Haddcxxcal–xx{nxkp{kl} ~k`xal`nok cl}k~v~k}`}cal hal}~aox, @x }bk X{v~kdk Ha{~} bkom cl

N~`lm R/ ` ha{~}–x v~ca~ halx}~{h}cal ae ` x}`}{}k }~{dvx `l `iklhs halx}~{h}cala}bk~ycxk kl}c}okm }a Hbku~al mkek~klhk alos ce }bk v~ca~ ha{~} mkhcxcal baomx }b`}c}x halx}~{h}cal eaooayx e~ad }bk {l`dnci{a{x }k~dx ae }bk x}`}{}k `lm }b{x ok`ukxla ~aad ea~ `iklhs mcxh~k}cal, N~`lm R/ ;=; [,X, } 32>$2;, A–B`i`l hk~}`closmcm la} baom }b`} ` ~kp{c~kdkl} ae ecm{hc`~s x}`}{x eaooaykm e~ad }bk {l`dnci{a{x}k~dx ae Xkh}cal 06"n#,

>>

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clea~d`}cal , , , p{`oceckx `x v~avk~}s }a ybchb }bk hadv`ls b`x ` ~cib} ae 

krho{xcuk {xk,— Cm, `} 5;=, Ce ` ecm{hc`~s {xkx clea~d`}cal ea~ vk~xal`o }~`mcli

 v{~vaxkx/ bk cx dcx`vv~av~c`}cli }bk v~clhcv`o–x v~avk~}s `lm makx xa cl n~k`hb ae 

bcx m{}ckx ae oas`o}s `lm halecmkl}c`oc}s }a bcx v~clhcv`o,

Xcdco`~os/ ` hadv`ls }b`} kl}~{x}x c}x d`}k~c`o/ lalv{noch clea~d`}cal }a

`la}bk~ cx icucli bcd }bk {xk ae ` ha~va~`}k `xxk}/ ybchb b`x u`o{k cl }bk xkh{~c}ckx

d`~jk}x, ]bk v~adcxk }a d`cl}`cl }bk clea~d`}cal cl halecmklhk cx cl kxxklhk }a

 v~kxk~uk }bk khaladch u`o{k ae }bk clea~d`}cal/ ybchb nkhadkx ya~}b okxx "a~ 

ya~}bokxx# {val v{noch`}cal, ]bk hadv`ls kl}~{x}x }bk clea~d`}cal }a }bk }bc~m

 v`~}s/ la} }a icuk y`s }~`mcli v~aec}x/ n{} }a e{~}bk~ ha~va~`}k v{~vaxkx, ]bk

 v~aucmk~ }~{x}x }bk ~khcvckl} ae }bk clea~d`}cal la} }a mkx}~as }bk u`o{k ae }bk

clea~d`}cal ns d`jcli c} v{noch `lm la} }a haluk~} }bk clea~d`}cal }a bcx ayl {xk

 ns }~`mcli {val c}, Alk h`lla} ~khalhcok l {lmk~}`jcli }a jkkv clea~d`}cal

halecmkl}c`o "}bk~kns v~kxk~ucli c}x u`o{k }a }bk v~aucmk~# `lm }~`mcli ns }bk

~khcvckl} "ybchb `vv~av~c`}kx }bk u`o{k ae }bk clea~d`}cal }a }bk }~`mk~#,

]bk `i~kkdkl} }b{x h~k`}kx ` xvkhc`o ~ko`}calxbcv nk}ykkl }bk }ya v`~}ckx

}b`} cx/ yc}b v`~}ch{o`~ ~kxvkh} }a }bk ~khcvckl}–x `ncoc}s }a {xk }bk clea~d`}cal ea~ 

bcx vk~xal`o nklkec}/ }bk e{lh}cal`o kp{cu`okl} ae ` }~`mc}cal`o ecm{hc`~s

~ko`}calxbcv, @x }bk X{v~kdk Ha{~} b`x mkho`~km/ ‟‒ZcT} cx ykoo kx}`nocxbkm/ `x `

>8

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iklk~`o v~avaxc}cal/ }b`} ` vk~xal yba `hp{c~kx xvkhc`o jlayokmik a~ clea~d`}cal

 ns uc~}{k ae ` halecmkl}c`o a~ ecm{hc`~s ~ko`}calxbcv yc}b `la}bk~ cx la} e~kk }a

krvoac} }b`} jlayokmik a~ clea~d`}cal ea~ bcx ayl vk~xal`o nklkec} n{} d{x}

`hha{l} }a bcx v~clhcv`o ea~ `ls v~aec}x mk~cukm }bk~ke~ad,–— H`~vkl}k~ u, [lc}km

X}`}kx/ =2= [,X, 03/ >9$>2 "0329# "p{a}cli Mc`dalm u, A~k`d{la/ >= L,S,>m =3=/

=39 "L,S, 0353# `lm hc}cli ^kx}`}kdkl} "Xkhalm# ae @iklhs ©© 822 Hd}, h/ 835h#

"03;2##,

Bk~k/ D`dd`,had kl}~{x}km halecmkl}c`o n{xclkxx clea~d`}cal }a H{n`l }a

xaochc} bcx cl}k~kx} cl v`~}chcv`}cli cl c}x xkh{~c}ckx aeek~cli, ]b`} clea~d`}cal y`x

D`dd`,had–x v~avk~}s ‘ ` n{xclkxx a~ khaladch `xxk} }a ybchb c} b`m ` ~cib} ae 

krho{xcuk {xk, C} mcm la} mcxhoaxk }bk clea~d`}cal }a icuk H{n`l ` }~`mcli

`mu`l}`ik auk~ a}bk~ d`~jk} v`~}chcv`l}x, C} mcxhoaxkm }bk clea~d`}cal ea~ }bk

ocdc}km n{xclkxx v{~vaxk ae cluc}cli H{n`l }a v`~}chcv`}k cl }bk aeek~cli/ `lm

kl`nocli bcd }a halxcmk~ v`~}chcv`}cli cl }bk aeek~cli/ alos `e}k~ xkh{~cli bcx

haddc}dkl} }a d`cl}`cl }bk clea~d`}cal cl halecmklhk,

Clmkkm/ D`dd`,had `lm H{n`l d{x} b`uk {lmk~x}aam }b`} c} y`x cdva~}`l}

}a D`dd`,had }b`} H{n`l na}b ~ke~`cl e~ad mcxhoaxcli }b`} D`dd`,had y`x

 vo`llcli `l aeek~cli/ ybchb ya{om m~cuk mayl }bk u`o{k ae }bk x}ahj "xkk ^K ]`n

5/ Hadvo, µµ >8$>=#/ `lm ~ke~`cl e~ad }~`mcli al }bk clea~d`}cal/ ybchb ya{om

>=

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b`uk ` xcdco`~ "}ba{ib xd`ook~# keekh}, B`ucli xkh{~km H{n`l–x `i~kkdkl} }a

d`cl}`cl }bk halecmkl}c`oc}s ae }bk clea~d`}cal bk ~khkcukm ea~ }bk v{~vaxk ae 

halxcmk~cli v`~}chcv`}cli cl }bk aeek~cli/ D`dd`,had aeechc`ox yk~k m{vkm ns

H{n`l–x {lmcxhoaxkm }~`mcli,

 L{dk~a{x clxcmk~ }~`mcli h`xkx x{vva~} }bk ucky }b`} `l `i~kkdkl} }a

d`cl}`cl clea~d`}cal cl halecmklhk lkhkxx`~cos clho{mkx `l `i~kkdkl} la} }a }~`mk,

Nkh`{xk `l {lmk~}`jcli ae ` m{}s ae halecmkl}c`oc}s ns `i~kkdkl} cx }svch`oos

k`xcos mk}k~dclkm/ }bk v{nocxbkm h`xkx v~cd`~cos i~`vvok yc}b }bk da~k mceech{o}

cxx{k ae ybkl/ cl }bk `nxklhk ae `l `i~kkdkl}/ ` x{eechckl} m{}s h`l nk cdvockm

e~ad }bk ~ko`}calxbcv nk}ykkl }bk clea~d`}cal v~aucmk~ `lm ~khcvckl}, Ybcok }bcx

da~k cluaoukm `l`osxcx cx la} lkhkxx`~s ybk~k/ `x bk~k/ ` m{}s cx {lmk~}`jkl ns

`i~kkdkl}/ }bk `l`os}ch`o e~`dkya~j kdvoaskm cl }bkxk h`xkx xbayx }b`} `

halecmkl}c`oc}s `i~kkdkl} kx}`nocxbkx ` x{eechckl} m{}s,

]bk ok`mcli v~k$A–B`i`l dcx`vv~av~c`}cal h`xk/ [lc}km X}`}kx u, Hbkx}d`l/

3=9 E,>m ;;0 ">m Hc~, 0330# "kl n`lh#/ ~khailcwkm }b`} ` m{}s h`l nk kx}`nocxbkm

kc}bk~ ns }bk `hhkv}`lhk ae ` m{}s a~ al }bk n`xcx ae ` ecm{hc`~s ~ko`}calxbcv, Cl

Hbkx}d`l/ ` ycek }aom bk~ b{xn`lm `na{} ` vklmcli }klmk~ aeek~ ea~ bk~ e`dcos–x

hadv`ls n{} lkc}bk~ xa{ib} la~ ~khkcukm bk~ b{xn`lm–x `i~kkdkl} }a jkkv }bk

clea~d`}cal halecmkl}c`o, Cm, `} ;;;$;5/ ;90, ]bk ha{~} anxk~ukm }b`} ecm{hc`~s

>;

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x}`}{x ha{om nk kx}`nocxbkm }b~a{ib kc}bk~ ae }ya dk`lx7 ‟` v~k$krcx}cli ecm{hc`~s

~ko`}cal a~ `l krv~kxx `i~kkdkl} ae halecmkl}c`oc}s , , , ,— Cm, `} ;90 "kdvb`xcx

`mmkm#, La}cli }bk ‟`nxklhk ae kucmklhk ae `l krvochc} `hhkv}`lhk ns Z}bk

b{xn`lmT ae ` m{}s ae halecmkl}c`oc}s/— }bk ha{~} }bkl v~ahkkmkm }a halm{h} }bk

da~k mceech{o} `l`osxcx ‘ ybk}bk~/ n`xkm al e`h}a~x x{hb `x ‟~koc`lhk/ `lm mk e`h}a

hal}~ao `lm madcl`lhk/— ` ecm{hc`~s$ocjk ~ko`}calxbcv x{eechckl} }a cdvos ` m{}s

krcx}km nk}ykkl }bk b{xn`lm `lm ycek, Cm, `} ;52$90, B`m }bk b{xn`lm krvochc}os

`hhkv}km ` m{}s ae halecmkl}c`oc}s/ c} cx hok`~ e~ad }bk avclcal }b`} }bk ha{~} ya{om

la} b`uk b`m `ls ahh`xcal }a `l`oswk ybk}bk~ ` m{}s ha{om nk cdvockm e~ad }bkc~ 

 v~k$krcx}cli ~ko`}calxbcv, ]bk `i~kkdkl} ya{om b`uk x{eechkm,

@e}k~ A–B`i`l/ }bk Xkhalm Hc~h{c} `i`cl ~khailcwkm }b`} ` halecmkl}c`oc}s

`i~kkdkl} `oalk kx}`nocxbkx ` x{eechckl} m{}s {lmk~ }bk dcx`vv~av~c`}cal }bka~s,

]bk ha{~} anxk~ukm }b`} ‟` ecm{hc`~s ~ko`}calxbcv/ a~ c}x e{lh}cal`o kp{cu`okl}/

krcx}x alos ybk~k }bk~k cx krvochc} `hhkv}`lhk ae ` m{}s ae halecmkl}c`oc}s a~ ybk~k

x{hb `hhkv}`lhk d`s nk cdvockm e~ad ` xcdco`~ ~ko`}calxbcv ae }~{x} `lm halecmklhk

 nk}ykkl }bk v`~}ckx,— [lc}km X}`}kx u, E`ohalk/ >;9 E,8m >>5/ >8= ">m Hc~, >660#

"kdvb`xcx `mmkm#,

]bk Kokukl}b Hc~h{c}/ cl XKH u, S{l/ 8>9 E,8m 0>58 "00}b Hc~, >668#/

~khailcwkm }b`} ` m{}s ae }~{x} `lm halecmklhk h`l nk kx}`nocxbkm kc}bk~ ns

>5

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halecmkl}c`oc}s `i~kkdkl} a~ ` v~k$krcx}cli ecm{hc`~s ~ko`}calxbcv, 8>; E,8m `}

0>98, ]bk ha{~} x}`}km }b`} }bk Haddcxxcal ha{om kx}`nocxb ` m{}s {lmk~ }bk

dcx`vv~av~c`}cal }bka~s ns ‟v~kxkl}ZcliT kucmklhk }b`} Z}bk mkeklm`l}T b`m `i~kkm

cl }bcx v`~}ch{o`~ clx}`lhk }a jkkv }bk clea~d`}cal halecmkl}c`o/— `lm e{~}bk~ x}`}km

}b`} ‟ZaTe ha{~xk/ ` n~k`hb ae `l `i~kkdkl} }a d`cl}`cl n{xclkxx halecmklhkx

ya{om , , , x{eechk— }a sckom clxcmk~ }~`mcli oc`ncoc}s, Cm, ]bk S{l ha{~} la}km }b`}

c}x halho{xcal y`x ‟naox}k~km— ns ^{ok 06n;$>/ ybchb nkh`dk keekh}cuk `e}k~ }bk

halm{h} `} cxx{k, Cm, `} 0>98 l,>8,

Xkuk~`o mcx}~ch} ha{~} mkhcxcalx v~aucmk e{~}bk~ x{vva~}, Cl XKH u, La}bk~l/

;32 E, X{vv, >m 059 "M, D`xx, >663#/ }bk ha{~} krv~kxxos ~kgkh}km }bk `~i{dkl}

}b`} ` halecmkl}c`oc}s `i~kkdkl} h`lla} icuk ~cxk }a ` m{}s ea~ v{~vaxkx ae 

dcx`vv~av~c`}cal oc`ncoc}s, Xkk ;32 E, X{vv, >m `} 098$95 "‟Z]Tbk XKH–x

`ooki`}cal }b`} Z}bk }cvvk~T krv~kxxos `i~kkm }a d`cl}`cl }bk halecmkl}c`oc}s ae , , ,

clea~d`}cal cx x{eechckl} }a x}`}k ` ho`cd }b`} bk b`m ` ‒xcdco`~ ~ko`}calxbcv ae }~{x}

`lm halecmklhk– {val ybchb Z}cvvkk–xT dcx`vv~av~c`}cal oc`ncoc}s d`s nk

 v~kdcxkm,—#,9 Cl `mmc}cal/ cl Hadv{mslk Ha~v u, Xb`lk / =;8 E, X{vv, >m 269

9 ]bk ha{~} mcm la} ~kos {val ^{ok 06n;$>"n#"0# nkh`{xk }bk mkeklm`l}`~i{km }b`} }bk ^{ok makx la} `vvos }a n{xclkxx ~ko`}calxbcvx/ `lm }bk ha{~}}ba{ib} }bk cxx{k y`x ‟la} kl}c~kos hok`~,— ;32 E, X{vv, >m } 09;, ]bk ^{ok/baykuk~/ makx `vvos }a n{xclkxx ~ko`}calxbcvx, C}x vo`cl o`li{`ik `vvockx }a oo`i~kkdkl}x }a d`cl}`cl clea~d`}cal cl halecmklhk, Xkk Ko Hadc}k V`~` KoNcklkx}`~ mk K`~ocd`~} u, Y`~dk~m`d/ ;83 E,8m 065>/ 0690$9> "3}b Hc~, >662#,

>9

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"X,M,L,S, >665#/ }bk ha{~} halxcmk~km ` da}cal }a mcxdcxx ` hadvo`cl} `ookicli

dcx~kv~kxkl}`}calx cl ucao`}cal ae {ok 06n$;, ]bk mkeklm`l} `ookikmos i~kkm }a

jkkv clea~d`}cal `na{} ` VCVK aeek~cli halecmkl}c`o/ n{} }bkl xhbkdkm }a xkoo

x}ahj cl }bk cxx{k~ xba~} `lm hauk~ }bk xba~} x`okx yc}b x}ahj v{~hb`xkm cl }bk

aeek~cli, ]bk ha{~} anxk~ukm }b`} ‟ZcT} cx `l}c}bk}ch`o }a }bk halhkv} ae jkkvcli

clea~d`}cal v~cu`}k a~ xkh~k} }b`} }bk clea~d`}cal nk {xkm ns }bk vk~xal ~khkcucli

}bk clea~d`}cal ea~ ZbcxT ayl vk~xal`o nklkec} yc}ba{} an}`clcli }bk krv~kxx

`vv~au`o }a xa {xk c},— =;8 E, X{vv, >m } 203, ]bk ha{~} halho{mkm }b`} ‟Z`T

~k`xal`nok ~k`mcli ae Z}bk mkeklm`l}–xT ~kv~kxkl}`}cal Z}b`} xbk ya{om jkkv }bk

clea~d`}cal halecmkl}c`oT cx }b`} xbk halec~dkm }b`} xbk ya{om lkc}bk~ mcxhoaxk }bk

clea~d`}cal la~ {xk c} ea~ bk~ nklkec},— Cm,

Da~kauk~/ cl XKH u, Ja~ld`l/ 830 E, X{vv, >m =99 "L,M, ]kr, >66;#/ cl

`mmc}cal }a halm{h}cli ` e`h}x$`lm$hc~h{dx}`lhkx `l`osxcx ~ki`~mcli }bk

~ko`}calxbcv nk}ykkl }bk mkeklm`l} `lm bcx }ya xa{~hkx/ }bk ha{~} bkom }b`} ‟}bk

"eaa}la}k hal}cl{km ,,,#@o}ba{ib hk~}`cl v`xx`ikx cl }bk Haddcxxcal–x v~avaxcli `lm `mav}cli ~kok`xkxea~ }bk ^{ok mcxh{xx }bk `vvoch`}cal ae }bk ^{ok }a vk~xal`o `lm e`dcos~ko`}calxbcvx/ }baxk x}`}kdkl}x `~k nkx} {lmk~x}aam `x clmch`}cli }bk Haddcxxcal–x

eah{x al ^{okx 06n;$>"n#"># `lm "8#/ ybchb xvkhcech`oos `mm~kxx e`dcos `lm a}bk~  vk~xal`o ~ko`}calxbcvx, Xkk Vc}}x}al Ha`o I~a{v u, Xknnkl/ =22 [,X, 06;/ 00;"0322#, Da~kauk~/ ~kx}~ch}cli {ok 06n;$>"n#"0# }a lal$n{xclkxx ~ko`}calxbcvxya{om nk hal}~`~s }a }bk ^{ok–x auk~`oo v{~vaxk ae v~a}kh}cli clukx}a~x e~ad }bk{le`c~ }~`mcli `mu`l}`ik i`clkm ns vk~xalx yba dcx`vv~av~c`}k d`}k~c`o/lalv{noch clea~d`}cal,

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hadvo`cl} `mkp{`}kos `ookikx }b`} Z}bk `mucxk~T `i~kkm }a x`eki{`~m }bk

halecmkl}c`o clea~d`}cal bk an}`clkm e~ad }bk krkh{}cukx— `lm }b`} }bk `ooki`}calx

‟n~cli }bcx h`xk yc}bcl ^{ok 06n;$>"n#"0#,— 830 E, X{vv, >m `} =36, Ecl`oos/ cl

XKH u, Jc~hb/ >58 E, X{vv, >m 00== "L,M, Coo, >668#/ }bk ha{~} i~`l}km x{dd`~s

 g{midkl} ea~ }bk Haddcxxcal `lm bkom }b`}/ nkh`{xk }bk mkeklm`l} `}}klmkm `

 v~kxkl}`}cal `} ` HKA ~a{lm}`nok cl ybchb bk y`x }aom }b`} }bk clea~d`}cal xb`~km

y`x halecmkl}c`o `lm nkh`{xk }bk i~a{v b`m ` halecmkl}c`oc}s vaochs/ bk b`m

{lo`ye{oos dcx`vv~av~c`}km }bk v~kxkl}cli HKA–x d`}k~c`o/ lalv{noch clea~d`}cal,

>58 E, X{vv, >m } 00=3$;0, ]bk ha{~} bkom }b`} ‟}bk ^a{lm}`nok ~ko`}calxbcv `lm

}bk hc~h{dx}`lhkx ae }bk ZHKA–xT mcxhoax{~k ae lalv{noch clea~d`}cal {lmk~ x{hb

krv~kxx halecmkl}c`oc}s halx}~`cl}x h`oo ea~ `vvoch`}cal ae }bk ‒dcx`vv~av~c`}cal

}bka~s– bk~k,— Cm, `} 00;6$;0,

U`~ca{x haddal o`y mah}~clkx `oxa x{vva~} }bk ucky }b`} `i~kkcli }a

d`cl}`cl clea~d`}cal cl halecmklhk clho{mkx i~kkcli la} }a }~`mk, Cl }bk hal}kr}

ae dcx`vv~av~c`}cal ae }~`mk xkh~k}x/ alk yba `hp{c~kx jlayokmik ae ` }~`mk xkh~k}

cl ` halecmkl}c`o h`v`hc}s cx {lmk~ `l anoci`}cal la} }a mcxhoaxk a~ {xk c} ea~ bcx

ayl `mu`l}`ik kukl cl }bk `nxklhk ae hal}~`h} }a }b`} keekh}, Xkk iklk~`oos 5

YCOOCX]AL AL HAL]^@H]X/ © 0870= "=}b km, >663#, Da~kauk~/ cl }bk hal}kr} ae 

hal}~`h}x/ ha{~}x iklk~`oos cdvos cl}a `l `i~kkdkl} ` haukl`l} ae iaam e`c}b `lm

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e`c~ mk`ocli ybchb v~kho{mkx halm{h} }b`} ku`mkx }bk xvc~c} ae `l `i~kkdkl}, Xkk

Mk`~na~l Clm{x, Dei, Ha,/ O]M u, Xa{m~alch Ecl`lw @I/ 0339 YO 0;5;23/ `} ';

"L,M, Coo, @v~co 0/ 0339# "‟Z@Tls ha{~}/ e`hkm yc}b ` ho`cd }b`} halecmkl}c`o

clea~d`}cal mcxhoaxkm v{~x{`l} }a ` lal$mcxhoax{~k `i~kkdkl} b`m nkkl haluk~}km

a~ dcx`vv~av~c`}km/ ya{om cdvos ` v~abcnc}cal al dcx`vv~av~c`}cal, Ybk}bk~ alk

yk~k }a halho{mk }b`} x}k`ocli halecmkl}c`o clea~d`}cal cx kp{cu`okl} }a mcxhoaxcli

c}/ a~ ybk}bk~ alk yk~k xcdvos }a baom }b`} x{hb ` dcx`vv~av~c`}cal ya{om ucao`}k

}bk cdvockm haukl`l} ae iaam e`c}b `lm e`c~ mk`ocli/ , , , }bcx ha{~} nkockukx }b`} }bk

, , , @i~kkdkl} `} ok`x} cdvochc}os v~abcnc}km , , , }bke} ae , , , halecmkl}c`o `lm

 v~av~ck}`~s clea~d`}cal,—#: xkk `oxa La~}b @}o`l}ch Clx}~{dkl}x/ Clh, u, B`nk~/ 022

E,8m 82/ =2 ">m Hc~, 0333# "}bk v~aucxcalx cl `l kdvoasdkl} `i~kkdkl} }b`} `l

kdvoaskk jkkv `lm ~k}`cl h{x}adk~ ocx}x cl }bk ‟x}~ch}kx} halecmklhk— ‟ns c}x uk~s

}k~dx v~kho{mkx {xcli }b`} halecmkl}c`o clea~d`}cal ea~ }bk nklkec} ae ` hadvk}c}a~ 

 n{xclkxx—#,

Ecl`oos/ v{noch vaochs x{vva~}x uckycli `l `i~kkdkl} }a jkkv d`}k~c`o/

lalv{noch clea~d`}cal halecmkl}c`o `x clho{mcli `l i~kkdkl} la} }a }~`mk, ]bk

mcx}~ch} ha{~}–x `vv~a`hb ya{om {lmk~dclk }bk v{~vaxkx ae }bk Krhb`lik @h} `lm

^{ok 06n$; ‟}a clx{~k balkx} xkh{~c}ckx d`~jk}x `lm }bk~kns v~ada}k clukx}a~ 

halecmklhk,— A–B`i`l/ ;>0 [,X, } 5;2, ]bk A–B`i`l Ha{~} halho{mkm }b`} }bk

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dcx`vv~av~c`}cal }bka~s/ `x mkeclkm cl }b`} mkhcxcal/ cx ‟ykoo }{lkm— }a }bkxk

 v{~vaxkx, Cm, ]bk Ha{~} ykoo ~khailcwkm }b`} clukx}a~x ya{om nk ~ko{h}`l} }a

‟ukl}{~k }bkc~ h`vc}`o cl ` d`~jk} ybk~k }~`mcli n`xkm al dcx`vv~av~c`}km

lalv{noch clea~d }cal cx {lhbkhjkm ns o`y,— Cm, `} 5;2, @ dcx`vv~av~c`}a~–x

clea~d`}cal`o `mu`l}`ik ‟x}kdx e~ad hal}~cu`lhk— `lm mkhkv}cal/ `lm h`lla} nk

auk~hadk ns a}bk~ clukx}a~x yc}b ~kxk`~hb a~ xjcoo, Cm, `} 5;2$;3: xkk cm, } 5;5,

Halxkp{kl}os/ xadk clukx}a~x ya{om ‟clh{~ hax}x Zkc}bk~T }a `uacm mk`ocli yc}b

x{hb }~`lx`h}a~x a~ ha~~{v}os }a auk~hadk Zx{hb }~`lx`h}a~x–T {lk~am`nok

clea~d`}cal`o `mu`l}`ikx,— Cm, `} 5;3,

]~`mcli n`xkm al dcx`vv~av~c`}km clea~d`}cal ns alk cl H{n`l–x xc}{`}cal

b`~dx clukx}a~x `lm }bk d`~jk}x cl }bcx d`llk~ la okxx }b`l }bk }~`mcli cl

A–B`i`l, H{n`l–x clea~d`}cal`o `mu`l}`ik auk~ a}bk~ clukx}a~x y`x la} n`xkm al

~kxk`~hb a~ xjcoo, ^`}bk~/ bk xkh~k}os {xkm D`dd`,had–x v~avk~}s }a `uacm oaxxkx

uc~}{`oos ~cxj$e~kk }b~a{ib xkh{~c}ckx }~`lx`h}calx, Bcx clea~d`}cal`o `mu`l}`ik

x}kddkm la okxx e~ad hal}~cu`lhk `lm mkhkv}cal xcdvos nkh`{xk bk {lmk~}aaj `

m{}s ae halecmklhk ns `i~kkdkl} yc}b D`dd`,had ~`}bk~ }b`l alk cdvockm e~ad `

~ko`}calxbcv nk}ykkl }bk }ya v`~}ckx,

Da~kauk~/ }bk mcx}~ch} ha{~}–x `vv~a`hb ya{om h`{xk `lad`ockx yc}b ~kxvkh}

}a a}bk~ ekmk~`o xkh{~c}ckx o`y ~kp{c~kdkl}x, Ec~x}/ c} ya{om ~kx{o} cl }bk

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 v~abcnc}calx al }cvvcli `lm }~`mcli nkhadcli mcxgacl}km, [lmk~ }bcx `vv~a`hb/ alk

cl H{n`l–x xc}{`}cal ha{om la} }cv `la}bk~ vk~xal yba }bkl }~`mkx nkh`{xk }bk }cv

ya{om n~k`hb ` halecmkl}c`oc}s `i~kkdkl}/ n{} ya{om nk e~kk }a }~`mk bcdxkoe,

Xkhalm/ }bk mcx}~ch} ha{~}–x `vv~a`hb ya{om haleoch} yc}b Haddcxxcal ^ki{o`}cal

EM/ ybchb clha~va~`}kx }bk v~clhcvok }b`} ` vk~xal yba `i~kkx }a jkkv clea~d`}cal

halecmkl}c`o h`lla} o`ye{oos {xk }b`} clea~d`}cal ea~ }~ mcli, ^ki{o`}cal EM y`x

`mav}km xcd{o}`lka{xos yc}b ^{ok 06n;$> `x v`~} ae ` n~a`m ~{okd`jcli clc}c`}cuk,

^ki{o`}cal EM v~aucmkx }b`} ‟ybkl `l cxx{k~/ a~ vk~xal `h}cli al c}x nkb`oe/

mcxhoaxkx d`}k~c`o lalv{noch clea~d`}cal }a hk~}`cl kl{dk~`}km vk~xalx "cl

iklk~`o/ xkh{~c}ckx d`~jk} v~aekxxcal`ox `lm baomk~x ae }bk cxx{k~–x xkh{~c}ckx yba

d`s ykoo }~`mk al }bk n`xcx ae }bk clea~d`}cal#/ c} d{x} d`jk v{noch mcxhoax{~k ae 

}b`} clea~d`}cal,— Xkokh}cuk Mcxhoax{~k `lm Clxcmk~ ]~`mcli/ @mav}cli ^kok`xk/

>666 YO 0>60;;5/ `} '=> "@{i, 0;/ >666#, Alk krhkv}cal }a ^ki{o`}cal EM–x

iklk~`o ~{ok cx ybk~k `l cxx{k~ mcxhoaxkx d`}k~c`o/ lalv{noch clea~d`}cal }a `

 vk~xal yba `i~kkx }a d`cl}`cl }bk clea~d`}cal cl halecmklhk, Xkk 09 H,E,^,

>=8,066"n#"cc#, @x }bk @mav}cli ^kok`xk krvo`clx/ }bk ~k`xal ea~ }b`} krhkv}cal cx

}b`} ‟dcx{xk ae }bk clea~d`}cal ea~ }~`mcli Zns ` vk~xal yba `i~kkm }a jkkv }bk

clea~d`}cal halecmkl}c`oT ya{om , , , nk hauk~km {lmk~ , , , }bk dcx`vv~av~c`}cal

}bka~s ae clxcmk~ }~`mcli,— >666 YO 0>60;;5/ `} '2, Cl xba~}/ nkh`{xk }bk

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Haddcxxcal {lmk~x}aam }b`} `l cxx{k~–x mcxhoax{~k ae d`}k~c`o/ lalv{noch

clea~d`}cal }a ` vk~xal yba `i~kkm }a jkkv }bk clea~d`}cal halecmkl}c`o ya{om la}

`ooay }bk ~khcvckl} oki`oos }a }~`mk/ }bk Haddcxxcal mcm la} nkockuk c} lkhkxx`~s }a

cdvaxk }bk ^ki{o`}cal EM v~abcnc}cal `i`clx} xkokh}cuk mcxhoax{~k cl }b`} xc}{`}cal,

=, Kukl `v`~} e~ad ^{ok 06n;$>"n#"0#/ {lmcxhoaxkm }~`mcli `e}k~

`i~kkcli }a jkkv clea~d`}cal halecmkl}c`o cx mkhkv}cuk {lmk~

Xkh}cal 06"n# `lm ^{ok 06n$;,

Kukl `v`~} e~ad ^{ok 06n;$>"n#"0#/ }bk Haddcxxcal–x hadvo`cl} `mkp{`}kos

`ookikm mkhkv}cal {lmk~ Xkh}cal 06"n# `lm {ok 06n$;, ]bk hadvo`cl} ookikm }b`}

H{n`l `i~kkm }a jkkv }bk clea~d`}cal v~aucmkm }a bcd ns D`dd`,had

halecmkl}c`o, @x mcxh{xxkm cl mk}`co `nauk/ x{v~` Xkh}cal @,8,n,/ `i~kkcli }a jkkv

clea~d`}cal halecmkl}c`o dk`lx `i~kkcli la} }a }~`mk, Clmkkm/ l{dk~a{x h`xkx

xbay }b`} ` m{}s }a mcxhoaxk nkea~k }~`mcli cx aykm ns alk yba b`x {lmk~}`jkl `

m{}s ae halecmkl}c`oc}s ns `i~kkdkl}, ]b`} }~`mcli cl n~k`hb ae }b`} m{}s cx

mkhkv}cuk,

]bk h`xko`y makx la} ~kp{c~k/ `x H{n`l `~i{km nkoay "xkk 58= E, X{vv, >m

`} 9>0$>>#/ }b`} ]kr`x o`y xaokos mk}k~dclkx ybk}bk~ ` m{}s krcx}x x{eechckl} ea~ 

oc`ncoc}s {lmk~ }bk dcx`vv~av~c`}cal }bka~s, Nkh`{xk }bk Krhb`lik @h} cx ` ekmk~`o

x}`}{}k/ }bk p{kx}cal ybk}bk~ }bk mkeklm`l} b`x n~k`hbkm ` m{}s cx ekmk~`o `lm makx

la} }{~l al }bk `vvoch`}cal ae `ls alk x}`}k–x o`y, C} b`x oali nkkl kx}`nocxbkm }b`}

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}bk `l}ce~`{m v~aucxcalx ae }bk xkh{~c}ckx o`yx `~k la}hakr}klxcuk yc}b haddal o`y mah}~clkx ae e~`{m,Clmkkm/ `l cdva~}`l} v{~vaxk ae }bk ekmk~`o xkh{~c}ckxx}`}{}kx y`x }a ~kh}ces vk~hkcukm mkechcklhckx cl }bk

`u`co`nok haddal o`y v~a}kh}calx ns kx}`nocxbclibcibk~ x}`lm`~mx ae halm{h} cl }bk xkh{~c}ckx clm{x}~s,

Bk~d`l % D`hOk`l u, B{mmokx}al/ =;3 [,X, 89;/ 822$23 "0328# "eaa}la}k

adc}}km#, @hha~mclios/ ha{~}x `vvoscli }bk dcx`vv~av~c`}cal }bka~s ma la} n`xk

}bkc~ mkhcxcalx al }bk v~khcxk hal}a{~x ae v`~}ch{o`~ x}`}kx– haddal o`y mah}~clkx,

Clx}k`m/ }bks kc}bk~ `xx{dk }bk krcx}klhk ae ` m{}s cl xc}{`}calx ybk~k c} cx

{lcuk~x`oos ~khailcwkm/ xkk/ k,i,/ A–B`i`l/ ;>0 [,X, `} 5;8 "kdvoaskk$kdvoask~/

`}}a~lks$hockl}#: [lc}km X}`}kx u, H`~vkl}k~/ 930 E,>m 06>=/ 06>2 % l,; ">m Hc~,

0325# "kdvoaskk$kdvoask~/ `ikl}$v~clhcv`o#/ `ee–m ns kp{`oos mcucmkm ha{~}/ =2=

[,X, 03 "0329#/ a~ koxk `muk~} iklk~`oos }a }bk haddal o`y `x ` {xke{o x}`~}cli

 vacl}, Xkk/ k,i,/ Hbkx}d`l/ 3=9 E,>m `} ;59$96, Xkk `oxa O`liea~m u, c}k @cm ae 

@o`n`d`/ Clh,/ >80 E,8m 0862/ 0808 "00}b Hc~, >666# "‟Cl krvoa~cli }bk p{kx}cal

ae ybk}bk~ ` m{}s }a mcxhoaxk krcx}x cl ` v`~}ch{o`~ xc}{`}cal/ ekmk~`o ha{~}x d{x} ia

 nksalm x}`}k haddal o`y/ `lm halm{h} `l clp{c~s cl}a ~koku`l} ekmk~`o xa{~hkx ae 

`{}ba~c}s—# "hc}cli h`xkx#,2

2 Da~kauk~/ H{n`l–x x}`}k$o`y$alos `vv~a`hb/ ce `mav}km/ ya{om ~kx{o} cl `l{lmkxc~`nok o`hj ae {lcea~dc}s/ yc}b x}`lm`~mx ea~ oc`ncoc}s {lmk~ ekmk~`o o`y ‘ Xkh}cal 06"n# `lm ^{ok 06n$; ‘ mkvklmcli al }bk o`y ae ece}s x}`}kx,

8=

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N, Cl @ls Kukl}/ }bk Hadvo`cl} @mkp{`}kos @ookikm ]b`} H{n`l–x

Halm{h} Y`x Mkhkv}cuk Nkh`{xk Bk Krvochc}os @i~kkm La} }a

]~`mk `lm ]bkl ]~`mkm N`xkm al }bk Halecmkl}c`o Clea~d`}cal,

]bk hadvo`cl} `mkp{`}kos `ookikm }b`} H{n`l krvochc}os `i~kkm la} }a }~`mk/

`lm bcx x{nxkp{kl} }~`mcli n`xkm al }bk halecmkl}c`o clea~d`}cal }bk~kea~k y`x

mkhkv}cuk,3  @} }bk nkicllcli ae }bk h`oo yc}b }bk D`dd`,had HKA/ H{n`l `i~kkm

}a jkkv yb`}kuk~ clea~d`}cal bk ok`~lkm halecmkl}c`o, @e}k~ ok`~lcli }bk clc}c`o

clea~d`}cal `na{} }bk VCVK aeek~cli/ ybchb {vxk} bcd `lm ybchb bk avvaxkm

 nkh`{xk c} ya{om mco{}k krcx}cli xb`~kbaomk~x ocjk bcdxkoe/ bk x}`}km/ ‟Ykoo/ lay

C–d xh~kykm ‘ C h`l–} xkoo,— H{n`l–x krv~kxx `lm hal}kdva~`lka{x ~khailc}cal

}b`} bk ha{om la} xkoo kucmklhkx bcx {lmk~x}`lmcli }b`} bk b`m `i~kkm `} }bk

 nkicllcli ae }bk h`oo }a `nx}`cl e~ad }~`mcli al }bk n`xcx ae }bk halecmkl}c`o

clea~d`}cal, Hk~}`clos c} cx ` ~k`xal`nok clek~klhk e~ad H{n`l–x x}`}kdkl} }b`} bk

b`m `i~kkm `} }bk nkicllcli ae }bk h`oo la} }a }~`mk,

N`xkm al H{n`l–x `i~kkdkl} }a }~k`} }bk clea~d`}cal halecmkl}c`oos `lm la}

xkoo/ }bk hadv`ls y`x clm{hkm }a haluks kukl da~k lalv{noch halecmkl}c`o

clea~d`}cal }a bcd, ]bk hadvo`cl} d`jkx `l krvochc} `ooki`}cal halhk~lcli

H{n`l–x ‟C h`l–} xkoo— x}`}kdkl} ybchb }bk mcx}~ch} ha{~} cila~km, ]bk hadvo`cl}

3 Ybcok }bcx h`xk cluaoukx `l krvochc} `i~kkdkl} la} }a }~`mk/ }bk mcx}~ch}ha{~} ha~~kh}os ~khailcwkm }b`} `l cdvochc} `i~kkdkl} la} }a }~`mk ya{om nkx{eechckl}, H{n`l/ 58= E, X{vv, >m `} 9>;/ 9>9$>2/ 980,

8;

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`ookikx }b`} ‟cl ~koc`lhk al H{n`l–x `hhkv}`lhk ae ` m{}s ae halecmkl}c`oc}s `lm bcx

`hjlayokmidkl} }b`} bk ha{om la} xkoo {l}co `e}k~ }bk v{noch `lla{lhkdkl}/— }bk

HKA v~aucmkm Dk~~cd`l hal}`h} clea~d`}cal }a H{n`l }a an}`cl e{~}bk~ mk}`cox

`na{} }bk aeek~cli, ^K ]`n 5/ Hadvo, µ 05 "kdvb`xcx `mmkm#, Cl ~kxvalxk }a

H{n`l–x p{kx}calx/ }bk Dk~~cd`l vo`hkdkl} `ikl} v~aucmkm H{n`l `mmc}cal`o

halecmkl}c`o mk}`cox `na{} }bk aeek~cli/ clho{mcli }b`} }bk aeek~cli y`x nkcli xaom

`} ` mcxha{l} }a }bk d`~jk} v~chk `lm }b`} c} clho{mkm a}bk~ clhkl}cukx ea~ clukx}a~x,

]b{x/ kukl ce H{n`l yk~k la} uckykm `x b`ucli `i~kkm la} }a }~`mk `} }bk

 nkicllcli ae }bk h`oo yc}b }bk HKA/ }bk hadvo`cl} x{eechckl}os `ookikx }b`} bk b`m

`l {lmk~x}`lmcli ns }bk klm ae }b`} h`oo "ybchb bk `hjlayokmikm }a }bk HKA# }b`}

bk b`m {lmk~}`jkl la} }a }~`mk {l}co }bk v{noch `lla{lhkdkl}, B`ucli

`hjlayokmikm }b`} {lmk~x}`lmcli }a D`dd`,had/ bk }bkl an}`clkm e{~}bk~ 

halecmkl}c`o clea~d`}cal e~ad D`dd`,had–x `ikl} `lm `oxa {xkm }b`} clea~d`}cal

ea~ }~`mcli,

]bk mcx}~ch} ha{~} y`x ~kp{c~km }a ucky }bk `ooki`}calx cl }bk ocib} dax}

e`ua~`nok }a }bk Haddcxxcal `lm }a i~`l} }bk Haddcxxcal ~k`xal`nok clek~klhkx

e~ad }bk `ooki`}calx, Xkk/ k,i,/ Ialw`okw/ ;99 E,8m `} 568, Ns halho{mcli }b`} }bk

`ooki`}calx yk~k clx{eechckl}/ baykuk~/ }bk mcx}~ch} ha{~} keekh}cukos halho{mkm }b`}

c} y`x {l~k`xal`nok }a clek~ e~ad }bk `ooki`}calx }b`} H{n`l b`m `i~kkm la} }a

85

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}~`mk al }bk clea~d`}cal, ]bcx y`x ~kuk~xcnok k~~a~, C} ya{om nk mceech{o} }a

hadv~kbklm ybs/ ce H{n`l b`m la} cl}klmkm }a `i~kk }a ~ke~`cl e~ad }~`mcli/ bk

ya{om b`uk halxcmk~km bcdxkoe ‟xh~kykm— `lm {l`nok }a xkoo, Clmkkm/ }bk dax}

~k`xal`nok clek~klhk cx }b`} H{n`l b`m {lmk~}`jkl "`lm ~khailcwkm }b`} bk b`m

{lmk~}`jkl# ` m{}s la} }a }~`mk al }bk clea~d`}cal,

]bk mcx}~ch} ha{~} ~k`hbkm }bk halho{xcal c} mcm alos ns cdv~avk~os

xvkh{o`}cli `na{} vaxxcnok clek~klhkx cl e`ua~ ae }bk mkeklm`l}, ]bk ha{~}

 nkockukm }b`} H{n`l–x ‟ZlTay C–d xh~kykmZT C h`l–} xkoo— x}`}kdkl} krv~kxxkm bcx

‟nkocke/ `} ok`x} `} }b`} }cdk/ }b`} c} ya{om nk cooki`o ea~ bcd }a xkoo , , , ,— H{n`l/

58= E, X{vv, >m `} 9>2, Cl a}bk~ ya~mx/ }bk mcx}~ch} ha{~} bsva}bkxcwkm }b`} H{n`l

 nkockukm bk ha{om la} xkoo/ la} nkh`{xk bk b`m `i~kkm la} }a }~`mk/ n{} nkh`{xk bk

dcx}`jklos halho{mkm }b`} bcx `i~kkdkl} }a jkkv }bk clea~d`}cal halecmkl}c`o y`x

kla{ib ea~ oc`ncoc}s, ]bk mcx}~ch} ha{~}–x uk~xcal ae kukl}x/ }bk~kea~k/ cx `x eaooayx7

"0# H{n`l `i~kkx }a jkkv }bk clea~d`}cal halecmkl}c`o n{} makx la} `i~kk la} }a

}~`mk: "># H{n`l/ `} ok`x} `} }b`} }cdk/ makx la} ~k`ocwk }b`} ` halecmkl}c`oc}s

`i~kkdkl} `oalk cx clx{eechckl} }a mcx`nok bcd e~ad }~`mcli `lm nkockukx c} ya{om

 nk cooki`o ea~ bcd }a xkoo: "8# H{n`l `hha~mclios x}`}kx }b`} bk cx ‟lay , , ,

xh~kykm— `lm h`l–} xkoo: "=# H{n`l/ ` xba~} }cdk o`}k~ }b`} x`dk m`s/ xadkbay

~k`ocwkx }b`} c} ya{om `h}{`oos nk o`ye{o ea~ bcd }a xkoo `lm v~ahkkmx }a xkoo, ]bk

89

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cdvo`{xcncoc}s ae }bcx uk~xcal ae kukl}x cx alos e{~}bk~ `vv`~kl} e~ad }bk mcx}~ch}

ha{~}–x ayl ~khailc}cal }b`} c} y`x }bk ec~x} ha{~} }a halxcmk~ ybk}bk~ `

halecmkl}c`oc}s `i~kkdkl} d{x} hal}`cl ` v`~}ch{o`~cwkm lal${xk hadvalkl}, Xkk

cm, `} 9>5 "‟@o}ba{ib la ha{~} `vvk`~x }a b`uk `l`oswkm }bk v~khcxk p{kx}cal }b`}

}bcx ha{~} kr`dclkx , , , ,—#,

E{~}bk~da~k/ }bk hadvo`cl} d`mk `ooki`}calx ~ki`~mcli }ya kd`cox xkl}

yc}bcl D`dd`,had }b`} e{~}bk~ x{vva~} `l clek~klhk }b`} H{n`l b`m `i~kkm la} }a

}~`mk al }bk clea~d`}cal, Cl `mmc}cal/ }bkxk ooki`}calx clmch`}k }b`} D`dd`,had

xb`~km H{n`l–x {lmk~x}`lmcli }b`} bk b`m `i~kkm la} }a }~`mk, Xba~}os `e}k~ }bk

h`oo e~ad }bk HKA }a H{n`l al G{lk >2/ D`dd`,had–x krkh{}cuk hb`c~d`l xkl}

`l kd`co }a a}bk~ D`dd`,had na`~m dkdnk~x {vm`}cli }bkd al VCVK$~ko`}km

c}kdx/ clho{mcli }bk HKA–x haluk~x`}cal yc}b H{n`l, Bk x}`}km cl }bk kd`co }b`}

‟Z`Tx `l}chcv`}km ZH{n`lT clc}c`oos ‒eoky aee }bk b`lmok– `lm x`cm bk ya{om xkoo bcx

xb`~kx "~khailcwcli }b`} bk y`x la} `nok }a ma `ls}bcli {l}co yk `lla{lhk }bk

kp{c}s# n{} }bkl `xjkm }a xkk }bk }k~dx `lm halmc}calx , , , ,— ^K ]`n 5/ Hadvo,

 µ 0; "kdvb`xcx `mmkm#, Al G{lk >3/ >66=/ D`dd`,had–x krkh{}cuk hb`c~d`l

y~a}k `l kd`co }a }bk na`~m }b`} x`cm ‟yk mcm xvk`j }a D`~j H{n`l "Z}b~a{ib a{~ 

HKAT `lm/ x{nxkp{kl}os/ a{~ clukx}dkl} n`ljk~# }a eclm a{} ce bk b`m `ls cl}k~kx}

cl v`~}chcv`}cli }a }bk kr}kl} ae d`cl}`clcli bcx cl}k~kx}, Bcx `lxyk~x yk~k7 bk

82

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ya{om la} clukx}/ bk makx la} y`l} }bk hadv`ls }a d`jk `hp{cxc}calx/ bk ycoo xkoo

bcx xb`~kx ybchb bk h`l la} ma {l}co `e}k~ yk `lla{lhk,— Cm, µ >6 "kdvb`xcx

`mmkm#,

]bk ha{~} mcxdcxxkm }bkxk `ooki`}calx `x ~koku`l} alos }a }bk cxx{k ybk}bk~ 

D`dd`,had b`m ` {lco`}k~`o krvkh}`}cal }b`} H{n`l ya{om ~ke~`cl e~ad }~`mcli

al }bk clea~d`}cal, C} cx }~{k }b`} ` {lco`}k~`o krvkh}`}cal al }bk v`~} ae }bk

 v~aucmk~ ae clea~d`}cal cx clx{eechckl} }a h~k`}k ` v~kmch`}k m{}s ea~ 

dcx`vv~av~c`}cal oc`ncoc}s, Bk~k/ baykuk~/ }bk `ooki`}calx mcm la} g{x} x{vva~} `l

clek~klhk }b`} D`dd`,had krvkh}km H{n`l la} }a }~`mk/ n{}/ `x la}km/ yk~k

~koku`l} }a }bk xhavk ae H{n`l–x `h}{`o `i~kkdkl} `lm D`dd`,had–x

{lmk~x}`lmcli ae H{n`l–x h}{`o `i~kkdkl}, ]bk ha{~} koxkybk~k cl c}x avclcal

~khailcwkm }bk cdva~}`l} mceek~klhk nk}ykkl ` dk~k {lco`}k~`o krvkh}`}cal ae lal¤

{xk `lm ` ‟okic}cd`}k `lm g{x}cec`nok krvkh}`}cal,— Hadv`~k H{n`l/ 58= E, X{vv,

>m `} 9>;$>5 yc}b cm, } 9>2, C} cx {lhok`~/ baykuk~/ ybs }bk ha{~} ocdc}km c}x

halxcmk~`}cal ae }bk ~koku`lhk ae }bkxk ooki`}calx cl }bk hadvo`cl}, ]b{x/ c} h`l

 nk ~k`xal`nos clek~~km e~ad }bk hadvo`cl} }b`} H{n`l krvochc}os `i~kkm la} }a }~`mk

83

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al }bk clea~d`}cal/ `lm mkhkv}cukos n~k`hbkm bcx ~kx{o}cli m{}s ns xkoocli bcx

kl}c~k x}`jk yc}ba{} mcxhoaxcli }a D`dd`,had bcx vo`lx }a }~`mk,06

06 Cl `ls kukl}/ c} cx ` ~k`xal`nok clek~klhk e~ad }bk hadvo`cl} }b`} H{n`l/

 ns }~`mcli ` o`~ik noahj ae x}ahj "da~k }b`l 5+ ae D`dd`,had–x a{}x}`lmclixb`~kx#/ hadd{lch`}km clea~d`}cal `na{} D`dd`,had/ cl n~k`hb ae bcx `i~kkdkl}}a jkkv }bk clea~d`}cal `na{} }bk hadv`ls halecmkl}c`o, ]~`mcli hadd{lch`}kxclea~d`}cal }a }bk d`~jk}, Xkk/ k,i,/ O`~~s B`~~cx/ ]^@MCLI @LM KRHB@LIKX7D@^JK] DCH^AX]^[H][^K EA^ V^@H]C]CALK^X/ >>= "LS7 Area~m [lcuk~xc}sV~kxx >668# "‟Clea~dkm }~`mk~x/ ocjk `oo a}bk~ }~`mk~x/ ae}kl xcilcech`l}os cdv`h}

 v~chkx ybkl }bks }~ mk, ]bkc~ n{scli }klmx }a v{xb v~chkx {v/ `lm }bkc~ xkoocli}klmx }a v{xb v~chkx mayl,—#: Gako B`xn~a{hj/ ‟Dk`x{~cli }bk Clea~d`}calHal}kl} ae X}ahj ]~`mkx/— =5 ]bk Ga{~l`o ae Ecl`lhk 093 "0330#"‟Hkl}~`o }a }bk`l`osxcx ae d`~jk} dch~ax}~{h}{~k cx }bk la}cal }b`} cl ` d`~jk} yc}b`xsddk}~ch`oos clea~dkm `ikl}x/ }~`mkx haluks clea~d`}cal `lm }bk~kea~k h`{xk `

 vk~xcx}kl} cdv`h} al }bk xkh{~c}s v~chk,—#,

=6

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HALHO[XCAL

Ea~ }bk ea~kiacli ~k`xalx/ }bk g{midkl} ae }bk mcx}~ch} ha{~} xba{om nk

~kuk~xkm,

^kxvkh}e{oos x{ndc}}km/

M@UCM D, NKHJK^ Iklk~`o Ha{lxko

D@^J M, H@BLMkv{}s Iklk~`o Ha{lxko

G@HAN B, X]COOD@LXaochc}a~ 

 QQ!x!QQQQQQQQQQQQQQQQQQQQQQQQQQ ^@LM@OO Y, P[CLL@xxcx}`l} Iklk~`o Ha{lxko

 QQ!x!QQQQQQQQQQQQQQQQQQQQQQQQQQ DCHB@KO O, VAX]

Xklca~ Oc}ci`}cal Ha{lxko

Xkh{~c}ckx `lm Krhb`lik Haddcxxcal066 E X}~kk}/ L,K,Y`xbcli}al/ M,H, >6;=3

G`l{`~s >606 ">6># ;;0$;600 "Vax}#

=0

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@ M M K L M [ D

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]@NOK AE HAL]KL]X

V`ik

Xkh}cal 09"`# ae }bk Xkh{~c}ckx @h} ae 0388/0; [,X,H, 99p"`# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , @0

Xkh}cal 06"n# ae }bk Krhb`lik @h} ae 038=/0; [,X,H, 92g"n# , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , @0

^{ok 06n$;/ 09 H,E,^, >=6,06n$; , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , @0

^{ok 06n;$>/ 09 H,E,^, >=6,06n;$> , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , @>

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E^@[M[OKL] CL]K^X]@]K ]^@LX@H]CALX

Xkh}cal 09, Z99pT "`# [xk ae cl}k~x}`}k haddk~hk ea~ v{~vaxk ae e~`{m a~ mkhkc}$$C} xb`oo

 nk {lo`ye{o ea~ `ls vk~xal cl }bk aeek~ a~ x`ok ae `ls xkh{~c}ckx a~ `ls xkh{~c}s$n`xkm xy`v

`i~kkdkl} "`x mkeclkm cl xkh}cal >65N ae }bk I~`dd$Ok`hb$Nocoks @h}# ns }bk {xk ae `ls dk`lxa~ clx}~{dkl}x ae }~`lxva~}`}cal a~ hadd{lch`}cal cl cl}k~x}`}k haddk~hk a~ ns {xk ae }bk d`cox/

mc~kh}os a~ clmc~kh}os‘ 

"0# }a kdvoas `ls mkuchk/ xhbkdk/ a~ `~}cechk }a mke~`{m/ a~ 

"># }a an}`cl dalks a~ v~avk~}s ns dk`lx ae `ls {l}~{k x}`}kdkl} ae ` d`}k~c`o e`h} a~ `ls

adcxxcal }a x}`}k ` d`}k~c`o e`h} lkhkxx`~s cl a~mk~ }a d`jk }bk x}`}kdkl}x d`mk/ cl ocib} ae }bk

hc~h{dx}`lhkx {lmk~ ybchb }bks yk~k d`mk/ la} dcxok`mcli: a~ 

"8# }a kli`ik cl `ls }~`lx`h}cal/ v~`h}chk/ a~ ha{~xk ae n{xclkxx ybchb avk~`}kx a~ ya{om

avk~`}k `x ` e~`{m a~ mkhkc} {val }bk v{~hb`xk~, ' ' ' '

D@LCV[O@]CUK @LM MKHKV]CUK MKUCHKX

Xkh}cal 06, Z92gT C} xb`oo nk {lo`ye{o ea~ `ls vk~xal/ mc~kh}os a~ clmc~kh}os/ ns }bk {xk ae 

`ls dk`lx a~ clx}~{dkl}`oc}s ae cl}k~x}`}k haddk~hk a~ ae }bk d`cox/ a~ ae `ls e`hcoc}s ae `ls

l`}cal`o xkh{~c}ckx krhb`lik$$ ' ' '

"n# ]a {xk a~ kdvoas/ cl hallkh}cal yc}b }bk v{~hb`xk a~ x`ok ae `ls xkh{~c}s ~kicx}k~km

al ` l`}cal`o xkh{~c}ckx krhb`lik a~ `ls xkh{~c}s la} xa ~kicx}k~km/ a~ `ls xkh{~c}ckx$n`xkm xy`v

`i~kkdkl} "`x mkeclkm cl xkh}cal >65N ae }bk I~`dd$Ok`hb$Nocoks @h}#/ `ls d`lcv{o`}cuk a~ mkhkv}cuk mkuchk a~ hal}~cu`lhk cl hal}~`ukl}cal ae x{hb ~{okx `lm ~ki{o`}calx `x }bk

Haddcxxcal d`s v~kxh~cnk `x lkhkxx`~s a~ `vv~av~c`}k cl }bk v{noch cl}k~kx} a~ ea~ }bk v~a}kh}cal

ae clukx}a~x, ' ' ' '

KDVOASDKL] AE D@LCV[O@]CUK @LM MKHKV]CUK MKUCHKX

09 H,E,^, © >=6,06n$;

C} xb`oo nk {lo`ye{o ea~ `ls vk~xal/ mc~kh}os a~ clmc~kh}os/ ns }bk {xk ae `ls dk`lx a~ 

clx}~{dkl}`oc}s ae cl}k~x}`}k haddk~hk/ a~ ae }bk d`cox a~ ae `ls e`hcoc}s ae `ls l`}cal`o xkh{~c}ckx

krhb`lik/

"`# ]a kdvoas `ls mkuchk/ xhbkdk/ a~ `~}cechk }a mke~`{m/

@0

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"n# ]a d`jk `ls {l}~{k x}`}kdkl} ae ` d`}k~c`o e`h} a~ }a adc} }a x}`}k ` d`}k~c`o e`h}

lkhkxx`~s cl a~mk~ }a d`jk }bk x}`}kdkl}x d`mk/ cl }bk ocib} ae }bk hc~h{dx}`lhkx {lmk~ ybchb

}bks yk~k d`mk/ la} dcxok`mcli/ a~ 

£# ]a kli`ik cl `ls `h}/ v~`h}chk/ a~ ha{~xk ae n{xclkxx ybchb avk~`}kx a~ ya{om avk~`}k

`x ` e~`{m a~ mkhkc} {val `ls vk~xal/ cl hallkh}cal yc}b }bk v{~hb`xk a~ x`ok ae `ls xkh{~c}s,

M[]CKX AE ]^[X] A^ HALECMKLHK CL DCX@VV^AV^C@]CAL

CLXCMK^ ]^@MCLI H@XKX,

09 H,E,^, © >=6,06n;$>

V~kocdcl`~s La}k }a © >=6,06n;$>7 ]bcx xkh}cal v~aucmkx ` lal$krho{xcuk mkeclc}cal ae 

hc~h{dx}`lhkx cl ybchb ` vk~xal b`x ` m{}s ae }~{x} a~ halecmklhk ea~ v{~vaxkx ae }bk

‟dcx`vv~av~c`}cal— }bka~s ae clxcmk~ }~`mcli {lmk~ Xkh}cal 06"n# ae }bk @h} `lm ^{ok 06n$;, ]bk

o`y ae clxcmk~ }~`mcli cx a}bk~ycxk mkeclkm ns g{mchc`o avclcalx halx}~{cli ^{ok 06n$;/ `lm ^{ok06n;$> makx la} damces }bk xhavk ae clxcmk~ }~`mcli o`y cl `ls a}bk~ ~kxvkh},

"`# Xhavk ae ^{ok, ]bcx xkh}cal xb`oo `vvos }a `ls ucao`}cal ae Xkh}cal 06"n# ae }bk @h} "0;

[,X,H, 92g"n## `lm © >=6,06n$; }bk~k{lmk~ }b`} cx n`xkm al }bk v{~hb`xk a~ x`ok ae xkh{~c}ckx al

}bk n`xcx ae/ a~ }bk hadd{lch`}cal ae/ d`}k~c`o lalv{noch clea~d`}cal dcx`vv~av~c`}km cl n~k`hb

ae ` m{}s ae }~{x} a~ halecmklhk,

"n# Kl{dk~`}km ‟m{}ckx ae }~{x} a~ halecmklhk,— Ea~ v{~vaxkx ae }bcx xkh}cal/ ` ‟m{}s ae }~{x} a~ 

halecmklhk— krcx}x cl }bk eaooaycli hc~h{dx}`lhkx/ `dali a}bk~x7

"0# Ybklkuk~ ` vk~xal `i~kkx }a d`cl}`cl clea~d`}cal cl halecmklhk:

"># Ybklkuk~ }bk vk~xal hadd{lch`}cli }bk d`}k~c`o lalv{noch clea~d`}cal `lm }bk

 vk~xal }a ybad c} cx hadd{lch`}km b`uk ` bcx}a~s/ v`}}k~l/ a~ v~`h}chk ae xb`~cli

halecmklhkx/ x{hb }b`} }bk ~khcvckl} ae }bk clea~d`}cal jlayx a~ ~k`xal`nos xba{om jlay

}b`} }bk vk~xal hadd{lch`}cli }bk d`}k~c`o lalv{noch clea~d`}cal krvkh}x }b`} }bk

~khcvckl} ycoo d`cl}`cl c}x halecmkl}c`oc}s: a~ 

"8# Ybklkuk~ ` vk~xal ~khkcukx a~ an}`clx d`}k~c`o lalv{noch clea~d`}cal e~ad bcx a~ bk~ 

xva{xk/ v`~kl}/ hbcom/ a~ xcnocli: v~aucmkm/ baykuk~/ }b`} }bk vk~xal ~khkcucli a~ an}`clcli

}bk clea~d`}cal d`s mkdalx}~`}k }b`} la m{}s ae }~{x} a~ halecmklhk krcx}km yc}b ~kxvkh}

}a }bk clea~d`}cal/ ns kx}`nocxbcli }b`} bk a~ xbk lkc}bk~ jlky la~ ~k`xal`nos xba{om b`uk

jlayl }b`} }bk vk~xal yba y`x }bk xa{~hk ae }bk clea~d`}cal krvkh}km }b`} }bk vk~xal

ya{om jkkv }bk clea~d`}cal halecmkl}c`o/ nkh`{xk ae }bk v`~}ckx) bcx}a~s/ v`}}k~l/ a~ 

 v~`h}chk ae xb`~cli `lm d`cl}`clcli halecmklhkx/ `lm nkh`{xk }bk~k y`x la `i~kkdkl} a~ 

{lmk~x}`lmcli }a d`cl}`cl }bk halecmkl}c`oc}s ae }bk clea~d`}cal,

@>

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HK^]CECH@]K AE XK^UCHK

XKH u, H{n`l "63$06335#

C bk~kns hk~}ces }b`}/ al G`l{`~s >>/ >606/ C h`{xkm }bk N~cke ae }bkXkh{~c}ckx `lm Krhb`lik Haddcxxcal/ Vo`cl}cee$@vvkoo`l} }a nk xkl} ns kokh}~alchd`co/ ns y~c}}kl halxkl}/ }a

Osok ^ank~}xMkyks % OkNak{e OOV0060 Lky Sa~j @uk,/ L,Y,Y`xbcli}al/ MH >666;o~ank~}xFmkyksoknak{e,had

`lm xkukl havckx ae }bk N~cke ae }bk Xkh{~c}ckx `lm Krhb`lik Haddcxxcal/Vo`cl}cee$@vvkoo`l} `lm `l kokh}~alch uk~xcal ae }bk n~cke }a nk xkl} ns lkr}$

 n{xclkxx$m`s mkocuk~s }a

Hb`~okx ^, E{on~{ik/ CCCHok~j ae Ha{~}

[,X, Ha{~} ae @vvk`ox ea~ }bk Ece}b Hc~h{c}566 X, D`kx}~c Vo`hk

 Lky A~ok`lx/ O@ 96086$68=62

 QQ!x!QQQQQQQQQQQQQQQQQQQQQQQQQQ Dchb`ko O, Vax}Xklca~ Oc}ci`}cal Ha{lxkoXkh{~c}ckx `lm Krhb`lik Haddcxxcal066 E X}~kk}/ L,K,

Y`xbcli}al/ M,H, >6;=3">6># ;;0$;600

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8/9/2019 S.E.C.'s Appellate Brief

http://slidepdf.com/reader/full/secs-appellate-brief 55/55

HK^]CECH@]K AE HADVOC@LHK

XKH u, H{n`l "63$06335#

C bk~kns hk~}ces }b`} }bcx n~cke hadvockx yc}b }bk }svk$uao{dk ocdc}`}calx ae 

Ekm, ^, @vv, V, >3"m# `lm Ekm, ^, @vv, V, >2,0"k#">#"N# nkh`{xk }bcx n~cke hal}`clx3/>;= ya~mx/ krho{mcli }bk v`~}x ae }bk n~cke krkdv}km ns EKM, ^, @VV, V,8>"`#"9#"N#"ccc#,

C `oxa hk~}ces }b`} }bcx n~cke hadvockx yc}b }bk }svke`hk ~kp{c~kdkl}x ae Ekm,^, @vv, V, 8>"`#";# `lm }bk }svk x}sok ~kp{c~kdkl}x ae Ekm, ^, @vv, V, 8>"`#"5#

 nkh`{xk }bcx n~cke b`x nkkl v~kv`~km cl ` v~ava~}cal`oos xv`hkm }svke`hk {xcli

Ya~mVk~ekh} 00 cl 0= vacl} ]cdkx Lky ^ad`l }svk,

 QQ!x!QQQQQQQQQQQQQQQQQQQQQQQQQQ Dchb`ko O, Vax}Xklca~ Oc}ci`}cal Ha{lxkoXkh{~c}ckx `lm Krhb`lik Haddcxxcal066 E X}~kk} L,K,

Y`xbcli}al/ M,H, >6;=3">6># ;;0$;600