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“Bodily financial system is mainly the identical and there’s a one new possession, which is absolutely disheartening,” says David Morgan, founding father of The Morgan Report. In an interview with Daniela Cambone, he emphasizes that whereas a monetary reset entails a change in possession dynamics, it doesn’t interrupt financial exercise; moderately, it recalibrates possession inside the present bodily financial system. He additionally advises traders to prioritize the intrinsic worth of gold over its face value, recognizing its stability amid monetary uncertainties. Lastly, he concludes the interview with a bit of life knowledge. “Within the turmoil of economic uncertainty, the true wealth lies not in what we possess, however in our resilience to adapt and persevere.”
CHAPTERS:
00:00 Monetary collapse
5:43 Wealth taking away
8:31 Learn how to be ready
12:54 Gold value
16:12 The worth of gold
18:44 Fed rates of interest minimize
21:35 Life knowledge
TRANSCRIPT FROM VIDEO:
Monetary collapse
00:00
We don’t have something left. They personal all of it. You wish to be outdoors the system at some degree. Yeah, you in all probability don’t need money within the financial institution. The place we’re proper now could be a curious place. It’s international. What’s driving the worth of gold? The bankers know what’s coming. Gold doesn’t change. The depreciation of the greenback does. , the nice reset, what they’re actually speaking about.
00:32
That is Daniela Cambone and welcome again to the Daniela Cambone present right here on ITM Buying and selling. And we’re again with a fan favourite, David Morgan. He’s clearly well known within the treasured metals neighborhood and I’m certain you’ve learn or seen him from the Morgan Report. David, at all times good to be with you. At all times recognize your ideas on the financial system and naturally life. Effectively Daniela, thanks for inviting me again. It’s good to be with you.
01:01
I had seen a latest penning of yours the place you speak in regards to the present disaster we’re dwelling in, whether or not you suppose it’s a buildup or a wholly new disaster altogether, however that you just suppose it might truly deliver down the whole monetary system. And I believe I’ve recognized you for a really very long time, David, however to listen to you speak about an entire shutdown of the monetary system clearly bought me very excited by your newest ideas right here.
01:29
I believe the final time we spoke was November, so let’s simply do a contact base right here as a result of I’d argue rather a lot has modified, however nothing has modified when it comes to the financial system. Would you not agree or disagree? I’ll go into it. So initially, whenever you hear these phrases, an entire, you recognize, desolation of the monetary system, you’ve bought to place it within the correct context. And so let’s say there’s an entire decimation of the present system.
01:59
I don’t suppose it’s going to go that far, however let’s simply go that far. What occurs? Effectively, what occurs is that each one the wealth stays in place. So all the faculties, all of the church buildings, all of the shops, all the auto factories, all the auto salespeople, used vehicles and new vehicles, the whole lot that exists within the bodily financial system stays in place. So nothing goes away. So it’s not just like the bodily financial system disappears.
02:27
which is a connection lots of people get whenever you give the concept of a monetary collapse. So you may have a monetary collapse and the bodily financial system is precisely the identical because it was the day earlier than. So what takes place? Effectively, mainly what takes place in a really broad brush thought is the possession adjustments. Principally anybody that’s over leveraged, you can’t meet their funds, meet their payments, make their automobile fee, their home fee, their lease fee on their auto dealership, their…
02:55
the warehouse or no matter it’s, has to mark to market what they’ve and put it on the market, which might be vastly deflationary in most situations. The possession adjustments after which issues can restart. Now, that’s a really broad-brush view, however I don’t need individuals to panic that the whole lot stops. It doesn’t. It actually takes place in virtually all situations, besides in very way back situations
03:25
mainly do a forex reset or a financial reset. And once more, the broad brush stroke on that’s you go from a fiat failure to a gold normal. And then you definately morph again to a fiat system and that fails once more, and also you return to a gold normal. Once more, a really broad brush view, however just about in a nutshell, how the methods travel. So the place we’re proper now could be a…
03:52
Carious place as a result of not all it’s not a one nation state. It’s not the one our Republic. It’s not Argentina. It’s not Turkey It’s not you recognize, Argentina it’s international Now the bricks have mitigated the issue considerably By buying and selling with one another’s currencies and actually circumventing the greenback However all these greenback money owed to all these third world international locations and different nation states first world international locations nonetheless exist It should be paid again in {dollars}. So I see it as what the
04:22
The Davos people and others speak in regards to the nice reset. What they’re actually speaking about is resetting the monetary system or the financial system to a brand new paradigm the place they’ll truly wipe out or mitigate a whole lot of this debt that’s owed between themselves and between traders and funding banks and on and on it goes and begin over. So once more, the bodily financial system actually wouldn’t change that a lot apart from who owns it.
04:50
Effectively, that’s actually the most important query of all, as a result of who owns it? When you have a look at what David Rogers Webb and I’ve talked about, he’s performed many interviews. I actually loved that interview. And he appeared to love it as effectively. I gave me a pleasant praise. Neglect me. The rules are extra necessary. However that’s half one. And half two is what’s the finish of it? And that’s given us to purchase the WF. You’ll owe nothing and be blissful. So for those who have a look at these two views, I’m not saying I agree that it’s true.
05:20
However we’re definitely getting very robust, clear indicators that the elite need all of it and we don’t get something. So the possession change is we don’t have something left. They personal all of it. Bodily financial system is mainly the identical and there’s a one new possession, which is absolutely, actually disheartening. After all, I’ve spent my entire life attempting to mitigate any such a scenario, as you effectively know. Yeah, I completely know that. And I’m blissful you introduced up David Webb as a result of I do know, clearly I do know I’ve interviewed him.
Wealth Taking Away
05:49
You’ve interviewed him to his level about how they may come for us and take the whole lot, your own home, your automobile, no matter’s within the financial institution, the whole lot. How a lot of that do you see occurring? Are you 100% on the web page with him on that? No, I’m not. I don’t suppose it’ll truly occur. I believe Martin Armstrong makes an incredible case about, let him attempt it.
06:18
I believe there’s going to be sufficient pushback and doubtless rewrite the contract, if you’ll, from the way in which it exists. I believe Webb has it right. I imply, I don’t argue info. I imply, I’m satisfied studying it sufficient occasions that that’s what it says at regulation and so they have the authorized means to do it. However I believe there’s, as I simply mentioned, sufficient pushback the place it’ll be rewritten and that once we get full property rights again like we actually had.
06:47
to start with of the revolution in the US? In all probability not. When you actually wish to study this, and I’ll go somewhat bit deeper, however the thought of free women and men is absolutely the precise to free property or property rights. However you actually don’t have property rights per se to the extent that most individuals suppose they do. Fast instance is for those who paid off your mortgage and also you personal your own home outright.
07:16
In virtually each jurisdiction you may think about, you don’t actually personal it. Effectively, like, how is that? Since you personal the… You don’t have the mortgage, you don’t have the debt, however the land foundation is owned by the state and you could pay property taxes as a result of you may have the privilege of getting your own home or your condo or your duplex on mainly their land and you need to pay hire to them. So do you actually personal it? The truth is, no.
07:46
In case you have your own home paid for and also you give up paying your property taxes, you’ll discover out fairly rapidly who actually owns it. In order that, and that concept in my view is flawed. We would like a low deal title. Once we purchase our automobile, we don’t need the producer certificates to remain on the state degree, and also you simply get a certificates that claims you’re registered proprietor, which is as Webb has identified. I don’t suppose he did it within the e-book. I learn it, however that you’ve got a beneficiary, which is pretty much as good as possession.
08:16
Till it’s not, which suggests, you recognize, they may come take your automobile, even when it’s paid for.
Learn how to Be Ready
08:23
It goes very deep. I went somewhat deeper than I wished to however it’s all will be factual. It might be no No, no, no, and I like how you recognize whether or not you agree with you recognize, what I you recognize net or not For you David I do know as a result of I’ve recognized you for thus lengthy you you you’re taking you’re taking steps to to safeguard and Defend your wealth your investments your cash
08:51
You’re one of many first to essentially sound the alarm on you recognize That is earlier than the banking disaster and I do know I’ve talked about this earlier than however in regards to the cash in your financial institution and even for me David you actually made me conscious of that. Effectively, truly that’s not mine and simply this week I had an unimaginable interview with Clive Thompson. Undecided if you recognize him David, however he has over 50 years Expertise in Swiss banking wealth supervisor and he was telling me yeah, you in all probability don’t need money within the financial institution
09:21
So right here’s a real insider from the banking system now saying it, whether or not you’ll lose that cash or not, it’s nearly being ready. So speak to me somewhat bit about issues David Morgan does to be ready for the way nevertheless the reset will form out to be. Effectively, we would like safety. I imply, cash represents safety for most individuals. I imply, the entire thought of like,
09:50
retirement, in case you have sufficient financial savings or some sort of funding portfolio which you could reside off your curiosity or your financial savings. Even for those who’re midway by means of your labor years, you’re 30, you intend to retire at 60, you continue to need that buffer. Having financial savings of some sort mitigates a whole lot of issues. You’ve gotten a well being challenge, you lose your job, surprising expense comes or no matter. The concept could be very sound so far as…
10:19
having some sort of a buffer. The issue is, is you define that you just’re actually not as secure in a financial institution as you suppose you might be. You might be an unsecured creditor and the financial institution actually owns your cash. Now, on a sensible degree, I’m not attempting to scare anybody. In most situations, you’re going to get your a refund, however you’ve bought to take a look at it deeper like David Rogers Webb did and say, effectively, what’s that regulation? What’s the worst case if Morgan’s proper and we get nearer to the monetary collapse? It’s not the entire world. It’s not even-
10:48
The entire nation is simply sure banks. This financial institution goes down. The regulation nonetheless applies. So let’s simply make up a financial institution known as ZYX Financial institution, fails. And everybody that has an account there will get bailed in. That’s what the regulation says. Effectively, their neighbor doesn’t care as a result of he’s at ABC Financial institution. However that person that was on the different financial institution has misplaced the whole lot at regulation. So the purpose is,
11:16
you wish to be outdoors the system at some degree. That might be bodily money. I imply, everybody nonetheless makes use of within the US Federal Reserve notes. What’s fascinating is you may’t even use money in some situations anymore. I imply, there’s some like espresso retailers, you may’t use money, you bought to make use of a debit card or bank card. And they also’re mitigating that proper. The opposite place is in fact, treasured metals. And that’s outdoors the system and universally acknowledged and worldwide.
11:46
The issue with that’s it’s excessive internet worth. I might put $30,000 in my entrance denims pocket between my two pockets in gold cash and actually nobody would discover. I can’t do this with silver, however you may with gold or platinum. Now you’ve bought to barter it. You’ve bought to discover a value. So it’s a bit cumbersome as a result of it’s not readily acceptable. However for those who go to first rules and also you have a look at the place silver actually bought its roots,
12:16
It was the cash of the individuals for the individuals by the individuals. And that was his main operate was cash. So how will we put that into the trendy period? And also you do it by means of the brand new know-how known as blockchain. So in case you have silver in your cellphone and you are able to do it by the grams, so you may get the equal fiat right down to the third or fourth decimal level, now you’ve bought one thing very highly effective. So for those who might put that again into the financial system and you may, all we want now could be schooling and adoption. You possibly can educate sufficient individuals.
Gold Worth
12:45
about being outdoors the system with actual cash and the way straightforward it’s to make use of. And now you may actually push again at them. Let’s take a step again. You talked about gold and silver. So let’s speak in regards to the all-time highs we’ve seen in gold. I wanna get your ideas on the worth motion since you level on the market’s actually been no motion on the gold ETF facet. And in addition in talking with giant wholesales.
13:13
Wholesalers at a fund supervisor you say that the enterprise is mainly static. I’ve additionally heard this from my associates within the enterprise So there’s no motion on the ETFs. We’re not seeing motion, you recognize when it comes to wholesale’s so What’s driving the worth of gold or possibly it’s simply not right here in North America and it’s all in China David Morgan’s take Effectively, a few of it’s from Chinese language shopping for however it’s primarily algorithms and paper commerce
13:42
That’s the crux of it. And why is that? That’s a deeper query I actually can’t reply. I believe that the bankers that enormous know what’s coming. They’re actually solely defenses to do what I mentioned earlier on the broad brush view. What occurs throughout a collapse? Fiat fails, you go to gold. And they also, the central banking neighborhood, has been taking up gold the final couple of years at a really speedy charge.
14:12
And now possibly they wish to mitigate an additional, let’s say, blip within the system, nonetheless believing they’re all highly effective or not. They may take a futures place that can take, you recognize, gold at a $2,000 degree and see it go to 2200. I imply, I simply checked the charts as on somewhat TV present. So say little is on a Mideast tv program this morning, giving a gold replace for them. And, you recognize, 22 buying and selling days go from
14:41
$1,224. A $200 improve in 22 buying and selling days, even on the gold market, which is pretty giant, is substantial. And this exhibits you nervousness out there and who’s doing it, I’m guessing, it’s in all probability the good cash that wishes to purchase that low cost $2,000 gold. I wish to go a step additional. Once I wrote certainly one of my first items on the web known as Engineering the Worth of Gold, individuals at all times wish to know, effectively, what’s the value of gold?
15:10
When do I promote it? And so they promote it whenever you promote it whenever you promote it. However the idea is how a lot gold is there versus how a lot paper is there. I exploit M zero, the true cash provide. When you do the maths, greenback and gold, it’s what number of {dollars} per ounce of gold, got here out $2,500 an oz. in 2002. And we’re solely at 2200 now. When you do that very same precise math, the provision of gold within the treasury has not modified.
15:40
That’s a continuing and gold is fixed, each constants. However what has modified is the M0, the bottom minus provide. what the quantity is now? It’s 9 occasions greater. It’s virtually $20,000. So, you recognize, so it’s a shifting goal. Gold doesn’t change. The depreciation of the greenback does. And it’s been a ninefold change since roughly 20, 23, 22 years in the past.
The Worth of Gold
16:10
So to your level, proper, when individuals wanting on the value motion, possibly traders who’ve by no means been in gold or silver, they’re wanting on the gold value pondering, effectively, it appears too excessive right here and so they’re on the sidelines. What do you inform them? Effectively, what I simply mentioned, I imply, it’s a relative, it’s a shifting goal, so it’s onerous to intention appropriately since you see this, it’s a brand new excessive, however 2200 adjusted.
16:39
for immediately’s inflation must be a lot, a lot greater to be equal to 850 on my birthday once I was 27. Gold hit its all time excessive on my birthday in 1980. I believe I’m in the precise enterprise, however I’m attempting to make a joke. However the level is, you don’t wanna focus an excessive amount of on the paper value. And all of us do, even I do at occasions. However you wanna have a look at worth.
17:04
What does gold purchase when it comes to one other commodity? What does it purchase when it comes to a home? What does it purchase when it comes to males’s or ladies’s clothes? You wanna see if it’s undervalued, not primarily based on value, however primarily based on what it does within the sector on a long-term foundation. So, you recognize, the previous adage that gold, an oz. of gold is a males’s go well with and sneakers and a hat and an umbrella and a belt and all that stuff. Okay, fantastic.
17:30
So for those who might purchase a males’s warehouse, you could possibly purchase a clothes retailer for an oz. of gold, then you recognize it’s of worth. , that’s the sort of pondering you gotta sort of prepare your self to do to get the concept. However the principle thought is purchase the correct amount, put it away and neglect about it. As a result of if I’m flawed or this factor muddles on, just like the late nice Harry Brown informed me the primary dinner I bought to have with him, you’re ready for what I believe is inevitable, however my timing has been lower than.
18:01
And I admit that, you recognize, I actually by no means thought we might get this far down the highway with this a lot distortions, this a lot malinvestments, this a lot maneuvering the markets on scorching air, mainly coming to the rostrum and getting behind the lectern and standing up and saying, financial system’s by no means been stronger. And other people purchase that? Effectively, I’m sorry, I don’t, however I’ve been a lone wolf for a very long time. So the purpose being is you don’t need to run your life round.
18:31
And the very fact is you simply do the alternative. It needs to be a deposit that you just put away, don’t take into consideration and allow you to sleep effectively at night time and transfer on along with your life, no matter your motivations in your life is. I agree 100% with that, David. And I imply, simply to go one step additional, I imply, we’ve seen the newest from the Fed, they’ve maintained charge regular, however some, you recognize, I’ll hear, effectively, I’m going to attend for these three charge cuts, you recognize, that the Fed will do after which see what gold does.
Fed Curiosity Charges Reduce
19:00
Does it matter? No, not in the long term. I imply, I used to be requested that on this TV present earlier immediately. I imply, they’ll do no matter they need with the rates of interest, and this time it received’t work. I imply, final time when Volcker got here in, there was a lot room within the financial system to swallow these sort of heavy yields that have been required to pay again the loans that individuals have been giving for getting US {dollars} sooner or later. It labored.
19:29
However it received’t this time as a result of we’re the wrong way up. There’s no mathematical solution to pay something again at this level, not to mention the long-term, the 10-year word or the 30-year bond. In order that they need to be discounted or they need to be repriced. And I believe there’ll be a repricing of some sort. Might be that we negate all overseas holders.
19:55
We already did it to the Russians. It’s, oh, David, you’re utilizing your creativeness. That may by no means occur. Look, people, it’s already occurred. Principally took the, what was it, 300 billion that the Russians had and mentioned, persona no grata, your {dollars} aren’t good for transactions anymore. That is very, very critical stuff. And other people say, you recognize, effectively, you’re flawed. Effectively, how flawed am I? Since you have a look at the tip of, have a look at the, sort right into a search engine, retail decimation from 19…
20:23
from 2020 until current day in the US and see what number of retail shops are gone. A few of these have been round greater than 100 years. Kind in company eating places decline in revenues and learn how many of those Applebee’s and different sort of eating places have closed a number of shops as a result of they’re shedding cash. I imply, the despair doesn’t begin with an in a single day deal. I imply, the 1929s, they attributed to the inventory market crash.
20:52
which is an efficient marker, however it actually wasn’t that day. Loads of issues led into that and after that. And it’s the identical scenario right here. We’re slowly contracting the financial system. The soup traces are getting longer and longer, however you don’t see them this time as a result of within the States you get an EBT card, which is okay with me. I’m not in opposition to serving to others in any respect. The truth is, I’m a reasonably giving man. However the level is you don’t see it as a result of they’ve bought somewhat plastic card, similar to I’ve once I undergo the grocery retailer.
21:21
you simply don’t know that the state is supplying that cash to them. However the state runs out of cash finally. And when the state runs out of cash, then you may have additional issues. Yeah. Excellent level. And I assume simply to increase and wrap on that about you being a really giving particular person, I at all times recognize whenever you share your ideas of life. I imply, you got here on our inaugural present again in Thanksgiving.
Life Knowledge
21:47
And I can’t let you know the quantity of those who wrote in saying how a lot What you mentioned meant to them and you recognize for possibly individuals who didn’t watch that episode you have been saying how the following time you’re up, you recognize desk with family members You should put this down since you don’t know for those who may see that particular person once more very somber thought right here for immediately, however you recognize I simply wish to say thanks at all times for in your life insights And you recognize in case you have the rest you could possibly share with us about the way you handle
22:16
sort of the ugliness of the whole lot that you just and I’ve to sort of reside in whenever you’re protecting monetary markets and try to discover steadiness in your life with some concord. Yeah, okay. Effectively, there may be on my Twitter, I used to do that, however I used to be requested to write down your goal in life or one thing that’s to not join with monetary markets. So I did it and put it on Twitter as a result of I’m keen to take a threat as anybody is aware of. And it was simply there for individuals to learn in the event that they wished to. In the event that they wish to ignore it, ignore it.
22:46
actually comes right down to your life in my perspective. You’re asking me what I believe, and that’s it’s an inside job. I imply, mainly there’s a whole lot of life that you just can not management, however there’s rather a lot which you could’t. I imply, it mainly taught my daughter two issues. One is life isn’t honest, and two, the one factor you may have a whole lot of management over, final management is your perspective. So it’s your perspective. It’s not the way you react, it’s the way you reply. And we’re taught to react, in my view, council.
23:15
I’ve been on a number of interviews as you recognize, Danielle, and never that usually, however pretty typically, any person says, da-da-da-da, David, I actually like your opinion, and I’ll say, I don’t have one. You don’t have an opinion? No, I don’t have an opinion as a result of I haven’t shaped sufficient data and I haven’t had sufficient knowledge or given sufficient thought to say one thing of substance. I imply, I would like, I’m not stoic to an incredible diploma, I will be long-winded, however I actually wish to give the reality as typically as doable.
23:41
And among the finest solutions you may give for those who don’t know one thing is I don’t know. And for those who wanna clarify why to have opinions, as a result of I don’t know sufficient about it to have an opinion. And in order that’s one. However the inside job comes with self-work, self-knowledge, and figuring out your flaws, seeing your darkish facet and dealing by means of that. I’ve no halo and I by no means will, however I’ve definitely seen my darkish facet and I’ve mitigated that a part of myself to acknowledge it and transfer by means of it and past it, as a result of
24:10
To be a greater human being means you’ve bought to take a look at all elements. I imply, a great pal, an actual pal will see your flaws and see your excessive factors as effectively and level them each out. I imply, for those who’re out on a rowboat collectively and you bought your oar the wrong way up, a pal will let you know, you bought your oar the wrong way up. However you’ve bought a pseudo pal, they don’t wish to harm your emotions, they’ll simply say paddle onerous. So you bought to, there’s worth in life. I used to be, I imply, I needed to…
24:38
develop by means of these things. I imply, I used to be not given the flexibility, I used to be given the flexibility, however didn’t have the perception. I used to be too targeted on cash with the ability to clear up all issues and produce happiness and all issues that, you recognize, is flawed about cash that I believed once I was a lot, a lot, a lot youthful. And these finest issues in life are free actually holds a whole lot of weight. I imply, what are you able to placed on a priceless sundown, be it over the desert or over the water, simply from your property? I imply, you may’t put a value on it.
25:06
You possibly can’t put a value on our friendship. , a friendship to me is price greater than gold. And I’ll say one last item earlier than I am going too far, and that’s there are individuals on the market which might be financially safe. They’ve an incredible portfolio. They might have even over-weighted the valuable metals, however they received’t be capable of make it as we undergo this transition. And the rationale they received’t be capable of make it as we undergo this transition isn’t as a result of they don’t have sufficient actual cash or property or no matter. It’s as a result of they don’t have sufficient inside energy.
25:34
to get by means of it. There’ll be those who have in all probability no gold or silver in anyway which have sufficient inside energy that can be capable of get by means of it. So I believe that will be the way in which I’d wrap it up as a result of that’s what actually counts. On the finish of the day, it’s my reminiscence of our occasions collectively on these interviews and once I met you and the way gracious you have been and vice versa. We muffed the primary one and also you do it once more. After all I’ll do it once more. Why wouldn’t I? However-
26:01
There are different individuals whose ego may not be in test and so they say screw it. I gave you my 5 minutes and I bought a cocktail social gathering. You bought to blow you off. Proper. So it comes right down to being actual in all places and at all times inconsistent. When you’re at all times your greater self, then you definately’re in the most effective place you will be. And also you don’t have many regrets. And imagine me, I’ve some, particularly from my earlier occasions, and I definitely make errors immediately, however I try for what I can of it.
26:31
and that’s the being my finest at all times.
26:37
Thanks, David. I actually recognize that and I’m so grateful to you and our friendship and To your your your like I mentioned your persistence. I do not forget that that first video that didn’t go Effectively many virtually what 20 years in the past now And also you have been so gracious and have at all times been all through my profession So I I’m grateful for our friendship and I used to be as you’re telling that oh or story I’m enthusiastic about my finest pal and she or he’d in all probability
27:04
make enjoyable of me till the tip of time If I rode backwards or one thing so that could be a true pal and also you’re proper It’s extra priceless than gold in case you have somebody like that in your life So thanks David. All proper my pleasure. Thanks and and we’ll see you quickly. Okay, okay and Thanks all for watching. We’ll have extra nice content material
27:31
coming your method as at all times, I invite you all to e-book a strategic session with certainly one of my colleagues over at ITM Buying and selling. You are able to do so on the hyperlink beneath within the description. When you simply need assistance or simply wanna speak about navigating the present monetary market, they’re actually there that can assist you. And as at all times, don’t neglect to enroll at danielacambone.com so you may keep on high of all these unimaginable interviews. That’s it for me. Thanks for watching.
SOURCES:
https://www.linkedin.com/in/thedavidmorgan
https://www.themorganreport.com/
https://twitter.com/silverguru22
https://www.silver-phoenix500.com/article/engineering-price-gold
https://www.cbinsights.com/research/retail-apocalypse-timeline-infographic/#2021
https://www.moneytalksnews.com/slideshows/restaurants-that-are-closing-multiple-locations/
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