https://secure.brownstoneresearch.com/?

cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

Disclosures and Details

   

Please read the following information carefully. This isn't your typical, boilerplate disclaimer. And this
document contains two distinct parts.

Part 1: DISCLOSURES ABOUT OUR BUSINESS contains critical information that will help you
use our work appropriately and give you a far better understanding of how our business works — both
the benefits it might offer you and the inevitable limitations of our products.

Part 2: PROMOTION DETAILS contains facts, figures, explanations, annotations, full testimonials,
and other resources about the promotional piece you just viewed. If you have questions or want more
information about the marketing material you just viewed, the first place to look is Part 2 of
this document.

PART 1: DISCLOSURES ABOUT OUR BUSINESS

The first and most important rule of investing is, in our view, the most obvious:

Investing always involves the risk of loss.

Paradoxically, investing is often most risky when it appears safest. This lesson of history led us to
adopt a rather unconventional strategy — a contrarian approach to investing. We believe our approach
has great merit, based upon our reading of history of our own track record to date. But as you surely
have heard before, the past isn’t necessarily a guide to the future. No matter how well we do our job,
no matter how much research we conduct, no matter how promising the opportunity, or certain our
analyst… you cannot escape the fact that every investment opportunity (and particularly in stocks)
comes with the risk of a loss. These risks are part of the reason why great investment ideas are rare
and incredibly valuable. You should understand why a business — like ours — would be willing to
share investment ideas with you and under what terms. We’ve prepared this document to help you
understand exactly why we publish our best investment ideas (instead of simply investing in them or
managing a hedge fund or other investment pool). It will give you insight into the specific conflict of
interest we face as publishers and describe how we collect our track records. It will describe our
posture in regards to guarantees and refunds. It will explain the regulatory and legal framework that
governs how we operate and perhaps most important, it will set the stage for a long and happy
business relationship. We’ve been successful in this business over many years because we’ve always
been dedicated to serving our subscribers by only publishing materials we’d want our own families to
read and follow, by always being completely transparent about the utility of our products (track
records), and by always considering how we’d want to be treated if the roles were reversed. If you’ll
take the time to read this document, we believe you will be far more likely to succeed using our
materials. You will know more about our approach to serving investors. You’ll know more about the
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

limits of what we can help you achieve. And most of all, you will know a lot more about the risks you
inevitably face as an investor.

The first thing to know about our business (Legacy Research) is that we are NOT money
managers, brokers, or fiduciaries of any kind.

Our published work is NOT a low-price replacement for an experienced money manager, broker, or
investment advisor. Instead, Legacy Research LLC is a publishing company and the indicators,
strategies, reports, articles, and all other features of our products are provided for informational and
educational purposes only. Under no circumstances should you construe anything that appears in our
newsletters, reports, or on our website as personalized investment advice. Our recommendations and
analysis are based on Securities and Exchange Commission (SEC) filings, current events, interviews,
corporate press releases, and what we’ve learned as financial journalists. It may contain errors, and
you shouldn’t make any investment decision based solely on what you read here. If you are not an
experienced investor, we urge you to get as much education as possible and to consult a licensed
individual advisor before making investments of any kind. The regulatory regime for investment
advisors and money managers makes it difficult (if not impossible) to serve both the general public
and individuals. We have chosen to provide our research to the general public for a number of good
reasons. For one, we know that Wall Street has enjoyed a dramatic advantage over the average
investor for decades. And we want to level the playing field as much as possible. But the most
important reason for serving the general public relates to something called the “prudent man” rule.
Historically, the best investment opportunities have arisen amid circumstances most investors believed
were risky. For example, opportunities to buy large-cap U.S. stocks at attractive prices have occurred
almost exclusively during periods of great economic uncertainty. Recently such opportunities arose in
1987, 1994, 1998, 2002, and 2008. We are confident that such opportunities will occur again.
Excessive greed and fear are the emotions that drive the public markets. Likewise, individual
securities often trade at the most attractive prices when serious problems arise in a given business. We
call these company-specific problems “warts.” However, precisely because most investors are
repulsed by such securities, investors willing to study them can produce large investment returns. We
seek to take advantage of these opportunities for the benefit of our subscribers. As I’ll explain later,
our firm does not own any stocks, nor do we allow our investment analysts to own the stocks they
recommend for our subscribers. Investment fiduciaries are often forbidden by regulations — most
notably the so-called “prudent man” rule — from taking a contrarian approach like ours with a
majority of their investments. These regulations date back to 1830 (though the rules have been
significantly revised over the years). The rule boils down to a simple concept: Fiduciaries have an
obligation to avoid taking investment risks that are contrary to the public’s opinion. Individual
investment managers with fiduciary obligations are legally required “to observe how men of prudence,
discretion, and intelligence manage their own affairs.” These rules essentially require registered
investment advisors to invest alongside the public. They are forbidden, for example, from shorting
stocks. This makes taking a truly contrarian approach nearly impossible because of regulatory and
legal liability concerns.

Our company’s primary approach to investing is based in strategies that may be

https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

significantly at odds with conventional wisdom and mainstream approaches to capital

management.

That means many of the recommendations and strategies we cover in our publications will seem risky
and controversial. It also helps explain why investors and media outlets that follow a more
conventional “prudent man” approach frequently criticize our work and even accuse us of
malfeasance. We urge you to consider our investment ideas carefully and to follow all of our strategies
for risk management, especially position sizing and trailing stop losses. But most of all… we urge you
to educate yourself about the philosophy that underlies our approach. If you will take the time to
understand why we believe our strategies are likely to work, you can acquire the emotional fortitude
and the discipline necessary to successfully apply our strategies. If you lack this understanding, you
are very unlikely to succeed.

We are NOT responsible for your results — good or bad. We will NOT take credit (in the
form of a percentage of your profits) for your success. Nor are we legally liable for any of
your losses.

Subscribing to our newsletters will not make us responsible for your investment results. You will bear
the full burden of the risks you decide to take. As we will regularly remind you: It’s your money, and
it’s your responsibility. Our lack of fiduciary responsibility might cause you to second-guess our work.
That’s fine with us. We urge you to be critical and skeptical of all investment recommendations, no
matter the source. But the simple fact is, if we were subject to legal liability for any losses resulting
from our recommendations, our business would disappear overnight. No investment manager could
withstand the risk of investment losses without also reaping the rewards of investment gains. Being
free of these fiduciary obligations allows us the freedom to operate and to provide information about
investment strategies (contrarian) and investment ideas that others are not able or willing to cover.
Therefore, when you use our services remember to always limit your position sizes to an amount you
can easily afford to lose. (We’d recommend the same advice when making an investment based on a
recommendation from any source.)

A very important warning: We make mistakes.

We are human. We make mistakes. Sometimes our ideas and hunches turn out to be wrong (though not
often, we’re pleased to report). More frequently our “timing” is off. That is, an investment theme we
expect to develop only does so in a timeframe that makes it difficult to earn a profit. And of course,
there are also times when we are misled, despite reasonable efforts to confirm our sources. Based on
the large number of customers we have acquired and retained and based on our own internally kept
track records (more on these below), we feel confident that on the whole our work is extremely
reliable. We doubt you’ll find work by any other publisher that is as detailed and well-sourced.
Nevertheless, it is important for you to realize that no published materials anywhere — not even the
New York Times - is regularly published without at least occasional mistakes. When we make
mistakes, you can count on us to correct them as quickly and honestly as possible. It is very unlikely
(though it does happen from time to time) that you will become wealthy from trading stocks, bonds,
options, commodities, or other financial instruments. The most realistic way to become wealthy, in our
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

view, is by building your own business or by playing a key role in the creation or the significant
growth of an existing one. Our newsletters are intended to serve people who are in the process of
wealth building by helping them manage their savings or people who already have significant amounts
of savings earn a higher average return.

Why not simply manage money or keep our ideas for ourselves?

Most knowledgeable investors are willing to share their ideas with other investors in exchange for a
fee. Sharing ideas doesn’t reduce returns and can generate substantial amounts of income for good
investors. Fees for top-quality money managers are high — especially for investors who are able to
pursue contrarian strategies. Hedge funds, for example, typically charge 2% of assets under
management and 20% of profits. Fees generated by successful hedge funds can reach into billions of
dollars. But the regulatory burden and the cost of raising large amounts of capital, are significant.

On the other hand, thanks to the First Amendment, there are relatively few legal burdens to publishing
and thanks to the Internet, there are few capital constraints. These low barriers to entry allowed us to
achieve a significant amount of success very quickly. We reached 300,000 subscribers within five
years of operations.

You should know that we attribute our success to three simple factors: our contrarian approach (we
cover valuable opportunities others won’t or can’t), the number of very highly skilled analysts we
were able to recruit and retain (primarily by offering a work environment that promised lucrative
rewards for success with almost no conflicts of interest), and the integrity with which we have always
approached our endeavors. Our path to success was set in motion by a simple choice: We decided to
publish our investment ideas to millions of people around the world at a relatively low price rather
than sharing our ideas exclusively with a very small group of wealthy investors at a high price. In the
long term, for this approach to be successful, we must continue to provide large numbers of
subscribers with unique, contrarian investment advice that is reliable and profitable.

We have structured our business in an effort to avoid conflicts of interest, but a significant
potential conflict of interest still exists.

We believe everyone involved in finance has some conflict of interest. Hedge-fund managers, for
example have a tremendous incentive to produce short-term capital gains so that they can generate fee
income (20% of gains). This might lead them to take short-term risks at the expense of safer and more
lucrative long-term gains. This conflict will exist even if the manager keeps all or most of his wealth
inside the fund. It also helps explain why successful hedge-fund managers often end up earning far
more from running the fund than their clients make investing in it. We generate our profits exclusively
from the subscriptions we sell. This is deliberate. We do not want our subscribers to wonder
whether we were recommending a company or an investment because the company or
investment sponsor advertised with us. This has been one of the ways that we have steered clear of
potential conflicts of interest but it’s not the only one.

We don’t accept compensation (or favors) from the companies we recommend as

https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

investments.

As you may know, many newsletter companies do not adhere to the same guidelines that we do. Some
accept compensation from the companies whose stock they recommend and cover. We could argue
that our policies described above leave us completely free of any conflict of interest. Other financial
publishers will surely make such a claim. But it’s not completely true. We have made efforts to
structure our business so that we don’t have any conflicts of interest. But despite our efforts, we do
have a conflict. It’s a conflict that’s systemic throughout the investment community and complex to
explain… so bear with me. The investing public has the unfailing tendency to rush into the worst
possible investments at the worst possible time. We call this the “paradox” of finance. People can
figure out when it’s a good time to buy groceries — when they’re on sale. But when it comes to
securities, people tend to ignore them when they’re cheap and stampede into them when they’re
expensive. For example… you’ll remember that in 1999 and 2000 investors all rushed into tech
stocks… at the wrong time. Then, they rushed into the housing market… at the wrong time. We
believe this irrational behavior is linked to the emotional need many people have to conform. It’s the
same psychology, essentially, that powers the fashion business. We can’t say what investment passion
will strike the crowd next, but we know, when it occurs, it would prove lucrative for us to publish
information confirming the crowd’s passions… even when it involves making bad or dangerous
recommendations. That is, during bubble periods, we have a financial incentive to help inflate the
bubble because that’s the kind of information the public will demand in those periods. This conflict —
the temptation to sell the public the information it wants even if it’s not in their interests — isn’t
unique to financial publishers. All forms of media face this conflict. That’s why, at market tops, you
will commonly find magazine covers and other types of mainstream media embracing the bubble. We
attempt to balance this conflict by focusing on proven contrarian approaches to investing. We further
advocate strict risk-management strategies that have so far largely prevented us from being caught up
in investment manias. You should also know that the structure of our company and the factors that
drive our profits help minimize the financial temptation to “go with the crowd” in the short term.
Essentially all of our profits are derived from renewal sales or additional sales to existing customers.
We typically market to new customers at a loss. This allows us to reach more potential subscribers
and, over time, to build a bigger business. It also means that unless our subscribers choose to
renew in large numbers, we are unlikely to succeed at our business. This helps to align our
interests with the long-term success of our subscribers. We believe we are unique in this long-term
strategy among all financial publishers. Just to be clear, though, no financial business is totally
immune to all conflicts of interest — just as no investment is totally free of risk. No matter how
dedicated our executives are to the success and wellbeing of our subscribers, at least some of our
employees will be motivated by a need to sell, to motivate, to persuade, and to captivate our
subscribers to produce revenue for our business. It is difficult to sell anything without embracing, at
least somewhat, the mood of the public. Thus, we urge all subscribers to reference our most recent
newsletters and to consult with an individual advisor before making any investments. Likewise, we
would urge you not to rely — at all — on any of our marketing pieces or sales letters when making
your investment decisions. These publications are designed to sell our research products and thus, by
design, lack the more fully balanced analysis of the risks and rewards of any particular investment
idea that you will find in our newsletters.
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

We offer one of the most generous refund policies in our industry… and perhaps in the
world.

More so than any other business we can name, we believe in “parting as friends.” If we cannot meet
your expectations, you should always have the opportunity to call us on the phone, tell us how we’ve
failed you, and get your money back. That is why, since the first day of our operations, we have hired
bright, and dedicated people to answer customers’ questions promptly and professionally. Our wait
times are normally less than one minute. And our average call duration is less than five minutes. We
are open for business (on the phone for customer service) from Monday through Friday, 9 a.m.
through 5 p.m. Eastern time. Our phone number is:

From time to time, we will make offers that don’t include the option to receive a refund. A skeptical
reader might suggest that we are trying to trick people into subscribing to a service that isn’t right for
them so we can make more money. But the exact opposite is true. We want to limit the sales of that
particular offer to only the most serious readers. We want to make sure that the subscribers to these
offers intend to subscribe and stick with that particular newsletter. In the past we’ve had people
subscribe just to read about the situation we were describing in the marketing offer. They would
download all of the information and then call us for a refund. That is unfair to the other subscribers
and to us as publishers. Those aren’t the kind of subscribers we are looking for. We want subscribers
that understand the value of our work and are committing to being a long-term customer of our
business. So, we use the “no refund” offer exclusively for situations where we want to limit the sales
to subscribers who are serious about buying the information and remaining subscribers. If a customer
buys one of these offers and finds out that they can’t act on the advice our Customer Service team will
find a way to apply the money from that purchase to another newsletter via our credit system. We
cannot imagine a reasonable person being disappointed in our willingness to provide a refund, a
subscription extension, or a credit. Our policy — of always being willing to “part as friends” — has
kept our business on the right side of nearly every potential conflict. No matter which one of our
products you purchase the terms of the offer are always clearly described on the order form. We strive
to make sure every customer understands exactly what they are buying, how much it costs and what
their options are if they choose not to keep their subscription. While we know it is impossible to avoid
every potential misunderstanding and to make everyone happy all of the time, we’re proud of our
ability to consistently please so many of our customers. We have among the industry’s highest renewal
rates and, as far as we know, the largest base of lifetime customers. Our company’s most important
asset is our reputation for trustworthiness, and maintaining that reputation is our highest goal.

Why our business model is almost exclusively based on subscriptions.

You may have noticed that the vast majority of our products are offered only via subscription. To
protect free speech and to encourage public debate and the exchange of ideas, the SEC has carved out
what’s known as the “publisher’s exemption” from certain securities laws. This exemption doesn’t
mean that we can write whatever we want. It means that we aren’t required to be registered with the
SEC. And it means that we can write about things registered advisors would find difficult to get
through their compliance departments — such as extremely contrarian advice. To qualify for this
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

exemption from securities licensing (and avoid the “prudent man” restrictions we mentioned earlier),
we must be a “bona fide” publisher, which under law is defined as a publisher who offers commentary
to the public on a regular schedule via subscription. The SEC frowns on “tip sheets” that sell one-off
reports. These policies help create accountability for publishers. If we aren’t able to live up to our
promises and the expectations we set, our clients have the right to demand a refund. And that’s why
we’ve always had such a liberal and generous refund policy. We have no problem proving our value to
subscribers. It’s exactly how we’d want to be treated if our roles were reversed.

Newsletter track records: Why they’re not like mutual funds.

The mutual-fund industry has become, like the wine trade, addicted to extremely simplistic, almost
ritualistic, evaluations of quality. A wine is a 96. That’s great. A fund is five-star. That’s great. What’s
your newsletter’s rank? The problem is, unlike a mutual fund, newsletter track records have no precise
starting point or ending point. The size (number of positions) grows over time, as the letter adds
recommendations. Thus, a newsletter can’t really be compared — directly — to either a mutual fund
or a stock index. The closest comparison we can manage for newsletters is to give you the average
annual return of each recommendation made and the average holding period. This gives you the
annualized return — which is an approximation of what you might have earned following the advice
of a newsletter. It’s far from precise. It doesn’t account for taxes (if you’re investing in a taxable
account) or “slippage” — which is the price you paid when you bought versus the recommended price
and the price you got when you sold versus the recommended sell price. We can only track prices that
are available in the market at the time we publish. Occasionally, someone will complain that our track
records aren’t reliable because they don’t reflect actual investment returns. It’s important for you to
realize that your results might be better or worse than the results we represent. We simply have no way
to know what your entry price was, what your exit price was, or what taxes you’ve paid (or will
eventually pay). We strive to make our track records accurate. They may, or they may not, be
representative of your actual results. Now… here’s the problem with track records and the reliance
some investors place on them. There’s not a single mutual fund in the world whose long-term track
record is great (10 years with double-digit annual returns) that doesn’t also have periods of terrible
investment performance. Likewise in the newsletter business, we have some analysts and some
strategies that excel during bull markets. Some that excel during bear markets. And some that can
produce very consistent (but not world-beating) results.

Some of our products are based on a fundamental approach to securities analysis. A few offer advice
based on the market’s technical outlook.

The most important thing that you need to understand is that no single investment strategy (or
investment analyst) can provide consistently market-beating advice at all times and in all markets. Our
analysts use a variety of contrarian-based strategies. Our efforts are designed to allow you to use the
right tools in the right market conditions. All of our publications maintain a track record. Virtually all
of them post their open positions on our website and almost all of them are also printed with each
issue. All of the back issues are available on our website. You can see for yourself how each analyst
has done with every recommendation he or she has ever made. You can see how each of our products
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

has performed in the past, during various market conditions. All of these things we do to inform our
readers about the products that they’ve purchased and represent our efforts to be transparent.

Your results will likely vary — you may make more or you may make less, possibly much less and
you may lose all of your investment if you act on the information that we publish. Our idea is simple:
Provide transparency to our customers. Let the readers decide how to best utilize the resources we
provide. Please understand: The best thing an investment research product can bring you is a good
idea that’s right for the market conditions and offers an overwhelming potential for success versus a
moderate level of risk. No investment newsletter is likely to make you rich overnight, although we’ve
seen huge profits in volatile industries, like mining and biotechnology. Most of your success as an
investor will be determined by how much capital you have to invest, how much time you have to
invest, and your asset allocation, that is, how much of your capital you have in stocks versus bonds
and cash. If you want to be successful as an investor, our best advice is to become an expert at
avoiding risk. Simply putting your money into high-quality stocks and bonds is very likely your best
bet.

Another way we try to avoid conflicts: Our analysts do not buy the stocks they recommend
to you.

Our company policy forbids our investment analysts and their staff from owning any stock they
recommend. In addition, other employees of Legacy Research may not purchase recommended
securities until 24 hours after the recommendations have been distributed to our subscribers on the
Internet. Some subscribers profess to be disappointed that our analysts don’t “eat their own cooking”
or have any “skin in the game” since they aren’t allowed to own even a token amount of the stocks
they’ve recommended. That opinion is naïve. Nothing is more important to the long-term success of
an analyst in our industry than a reputation for producing excellent results for their subscribers. An
analyst’s standing in our company and our industry is measured by his or her ability to produce a
winning track record using a given strategy. This is real skin in the game — far more skin than simply
investing a few thousand dollars in a particular stock. This position also allows our analysts to be
genuinely independent. That guarantees us that the only reason they have to recommend a stock, to re-
recommend a stock, or to recommend selling a stock is that they fully and sincerely believe that’s the
best course of action. Without this independence the possibilities of a conflict of interest are infinite.

PART 2: PROMOTION DETAILS

The following contains facts, figures, explanations, annotations, full testimonials, and other resources
about the promotional piece you just viewed. In short, these are the resources used to put together the
previous promotion. As you have seen, we publish testimonials in our promotions. All of those
testimonials are the words of real subscribers that we received in real letters, emails, and other
feedback. If a subscriber sends a testimonial we’d like to use in a promotion, a member of our
Customer Service team calls them to verify their claims. We do not make these results up, and we do
not pay or compensate subscribers for their testimonials.
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

When we receive testimonials from a subscriber, we veil their last name and any identifying details to
protect their privacy and identity. During the verification process we’ll often ask for particulars about
the subscriber's results, including:

1. How much money he or she invested,

2. How long he or she was in the trade,
3. How much the subscriber made in dollars terms and as a percentage of the original
investment, and
4. What portion of his or her overall portfolio was put into the trade.

We ask these questions because we want a clearer picture of the results that the subscriber attained so
that we can pass that information on to you.

You should keep these questions in mind when assessing whether to purchase our products and
whether you could obtain similar results.

If the subscriber does not give us this information, then we cannot publish it.. We publish this
information to let you know that these results are possible and have been achieved by real people after
reading our research. However, you should also understand that we are advertising these testimonials
because they are atypical. These results are examples of the very best possible outcomes.

Past results like these are no guarantee of any future result.

We wouldn’t recommend anticipating such outstanding results with your own investments. Yes, you
could have results like these — or perhaps even better. But, it’s simply not prudent to assume you will
immediately make large investment returns. Instead, we urge you to read our work carefully, to follow
our risk management strategies conscientiously, and to invest cautiously while setting expectations
that are based around our long-term performance averages.

The promotion you just read was for ’s .

has been publishing , since it’s inception in . The average return of all of his recommendations in 2020
was .

What follows are the facts, figures, resources, and full testimonials from the accompanying promotion
for .

Please note we are not detailing all biographical information to protect the privacy and safety of our
Analyst’s and their families. We’ll also keep proprietary information about our company private.
Biographical and company-specific claims, as well as all other material details in this promotion, have
been reviewed for accuracy and transparency by our in-house legal team.

The details listed below are listed in the order they appear in the accompanying promotion.

If you have any questions or want more information about the marketing material you just viewed,
here's where you should start. Remember, you can also call our Customer Service team from Monday
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

through Friday, 9 a.m. through 5 p.m. Eastern time. Our toll — free phone number is:

Details

1. Time Magazine Cover, Nov 2020 International Edition. https://twitter.com/TIME/status

/1319563867345879040/photo/1

2. World Economic Forum, the organization that appears to be behind the push to change our
systems and society. https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-
reset/

3. Catholic Church Claim: https://rumble.com/vc8nil-cardinal-burke-forces-of-the-great-reset-

have-used-covid-to-advance-evil-ag.html

4. The American Way of Life in Peril: “American way of life” refers to end of Capitalism. The
Great Reset is a reset of Capitalism

5. 80% of World’s Banks: https://www.cnbc.com/2020/12/07/china-hands-out-digital-yuan-in-

trial-as-jdcom-accepts-the-currency.html

6. Tech Titans are Apple and Google. Support refers to apps designed to trace contact and
manage payments: https://www.cnbc.com/2020/10/03/covid-app-exposure-notification-apple-
google.html

7. Great Reset already happening in countries around the world:

a. Bahamas: https://www.coindesk.com/central-bank-of-bahamas-launches-landmark-sand-
dollar-digital-currency
b. Sweden: https://www.technologyreview.com/2020/02/20/906146/sweden-riksbank-ekrona-
blockchain/
c. China: https://www.nytimes.com/2021/03/01/technology/china-national-digital-
currency.html

8. Research Firm’s Past Prediction 1: The Fall of the Soviet Union – From the CIL Prediction
Matrix. Exact prediction: The Soviet Union will cease to exist as an entity. X, No. 3 - January
1990.

9. Jeff Brown is a member of the Digital Chamber of Commerce: https://digitalchamber.org

/americancompetitivenessroundtable/

10. “Controlled Demolition” is another way to describe the Great Reset

11. Details about Jeff Brown consult with Senators: https://www.brownstoneresearch.com

/bleeding-edge/jeff-brown-discusses-blockchain-in-washington/

12. Trillions in New Money: https://www.usatoday.com/in-depth/money/2020/05

/12/coronavirushow-u-s-printing-dollars-save-economy-during-crisis-fed/3038117001/
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

13. Green Agenda: https://newsakmi.com/news/usnews/the-green-agenda-is-the-great-reset/

14. Idea Accounts Will Be Wiped Clean: https://www.bbntimes.com/global-economy/the-great-

reset-and-the-risk-of-greater-interventionism

15. 205 millions Americans:

a. https://datacenter.kidscount.org/data/tables/99-total-population-by-child-and-adult-
populations#detailed/1/any/false/1729,37,871,870,573,869,36,868,867,133/39,40,41
/416,417
b. And https://www.pewresearch.org/internet/fact-sheet/mobile/
c. 255M (total US adult population) times 81% (number who have a smart phone).
d. This covid-contact tracing feature is built into the operating system. https://www.wired.com
/story/google-apple-change-tactics-contact-tracing-tech/

16. Plan in the works since 2015 refers to ‘FedCoin’. https://bitcoinmagazine.com/articles/fedcoin-

could-be-coming-soon-would-it-really-challenge-bitcoin

17. Jeff Brown Resume: https://beaconstreetservices.atlassian.net/wiki/spaces/LLD/pages

/1232240688/Resume

18. Jeff Brown appearance on Glenn Beck Show:

a. https://www.youtube.com/watch?v=tAGeN5lrxws and
b. https://podcasts.apple.com/gb/podcast/ep-60-5g-ai-everywhere-2030-will-be-new-world-
jeff/id620967489?i=1000457636997

19. Changes proposed for Great Reset:

a. https://www.dw.com/en/wef-2020-changing-how-capitalism-works/av-52104733
b. https://mises.org/wire/no-privacy-no-property-world-2030-according-wef

20. Shutdowns cost millions of jobs: https://www.forbes.com/sites/jonathanponciano/2020/11/30/it-

could-take-4-years-to-regain-the-22-million-jobs-lost-during-covid-19-pandemic-moodys-warns/

21. Yelp reports 60% of small businesses will never reopen: https://www.cnbc.com/2020/09
/16/yelp-data-shows-60percent-of-business-closures-due-to-the-coronavirus-pandemic-are-now-
permanent.html

22. CNBC reports 63% of Americans are living paycheck to paycheck: https://www.cnbc.com
/2020/12/11/majority-of-americans-are-living-paycheck-to-paycheck-since-covid-hit.html

23. Klaus Schwab quote: https://www.weforum.org/focus/the-great-reset

24. Prince Charles quote: https://www.theguardian.com/uk-news/2020/jun/03/pandemic-is-chance-

to-reset-global-economy-says-prince-charles

25. Justin Trudeau quote: https://www.cbc.ca/news/politics/great-reset-trudeau-poilievre-otoole-

pandemic-covid-1.5817973
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

26. WEF Great Reset Chart showing Great Reset will affect what we eat, how we travel, where
we can spend, etc.: https://intelligence.weforum.org/topics
/a1G0X000006OLciUAG?tab=publications

27. More on American prohibition of alcohol: https://en.wikipedia.org

/wiki/Prohibition_in_the_United_States#:~:text=Prohibition%20in%20the%20United%20States
%20was%20a%20nationwide%20constitutional%20ban,drinks%20during%20the%2019th%20ce
ntury.

28. 55mph U.S. speed limit: https://www.history.com/this-day-in-history/nixon-signs-national-

speed-limit-into-law

29. Paris Climate Agreement: https://unfccc.int/process-and-meetings/the-paris-agreement/the-

paris-agreement

30. Fed prints trillions of dollars: https://www.livemint.com/industry/banking/lessons-from-the-

fed-s-3-trillion-money-printing-11592322603528.html

31. Pork-barrel spending in stimulus bill: https://thehill.com/opinion/finance/531294-congresss-

pork-filled-covid-relief-bill

32. Federal Reserve Act: https://en.wikipedia.org/wiki/Federal_Reserve_Act

33. Gold Confiscation: https://en.wikipedia.org

/wiki/Executive_Order_6102#:~:text=Executive%20Order%206102%20is%20an,within%20the
%20continental%20United%20States.%22

34. Nixon gold shock: https://en.wikipedia.org/wiki/Nixon_shock

35. Google and Apple contact tracing tech: https://www.mobihealthnews.com/news/apple-googles-

contact-tracing-update-streamlines-user-enrollment-asks-less-public-health

36. 80% of Central Banks rolling out digital currencies to replace cash: https://www.bis.org
/publ/bppdf/bispap107.htm

37. Tom Cotton quote: https://www.youtube.com/watch?v=A1h14ETflus

38. Digital Dollar appearance in early stimulus bill draft: https://www.sygna.io/blog/why-fed-

issued-digital-dollar-cbdc-nearly-made-congress-2-trillion-dollar-stimulus-bill/

39. Sherrod Brown bill to introduce digital Dollar: https://www.congress.gov/bill/116th-congress

/senate-bill/3571/text

40. House Meeting feat. Jerome Powell/Quote: https://www.c-span.org/video/?469082-1

/monetary-policy-economy

41. Emergency Senate Meeting on Digital Dollar: https://www.forbes.com/sites/jasonbrett/2020/06

/23/digital-dollar-hearing-round-2-us-senate-to-examine-future-of-money/
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

42. Apple Pay and Google Pay:

a. https://support.apple.com/en-us/HT208531
b. https://www.cnet.com/how-to/google-pay-how-to-set-up-on-your-android-phone/

43. Visa patent for Digital Fiat/Destruction of paper currency: https://www.forbes.com/sites

/jasonbrett/2020/05/14/visa-submits-patent-application-for-digital-dollar-using-blockchain
/#:~:text=The%20U.S.%20Patent%20and%20Trademark,centralized%20computer%20using%20
blockchain%20technology.

44. Transaction monitoring and privacy concerns: https://theconversation.com/cashless-payment-

is-booming-thanks-to-coronavirus-so-is-financial-surveillance-145179

45. Alexandria Ocasio-Cortez and Bernie Sanders support Universal Basic Income:
a. https://www.businessinsider.com/coronavirus-aoc-demands-universal-basic-income-other-
radical-measures-2020-3
b. https://medium.com/basic-income/on-the-record-bernie-sanders-on-basic-income-
de9162fb3b5c

46. Checks deposited directly to smartphone/possible to reset accounts: https://www.cnbc.com

/2020/04/02/chime-bank-pilots-way-to-get-1200-stimulus-checks-to-users-instantly.html

47. Bitcoin has outperformed gold every year since 2011: https://web.archive.org
/web/20201108122728/https:/www.ccn.com/why-bitcoin-has-outperformed-gold-every-single-
year-since-2011/#

48. Bitcoin has minted 25,000 new millionaires: https://decrypt.co/41478/there-are-now-17000-

bitcoin-millionaires

49. Microstrategy buys Bitcoin: https://www.coindesk.com/microstrategy-buys-bitcoin-debt

50. MassMutual buys Bitcoin: https://www.wsj.com/articles/massmutual-joins-the-bitcoin-club-

with-100-million-purchase-11607626800

51. PayPal allows payments by Bitcoin: https://newsroom.paypal-corp.com/2020-10-21-PayPal-

Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrency

52. JPMorgan report investors selling Gold ETF/buying Bitcoin: https://news.bitcoin.com

/jpmorgan-gold-etfs-bitcoin
/#:~:text=0-,JPMorgan's%20Analysis%20Shows%20Institutional%20Investors%20Moving%20F
rom%20Gold%20ETFs%20to,(ETFs)%20to%20the%20cryptocurrency.

53. Raoul Pal quote: https://decrypt.co/51180/raoul-pal-sees-cryptocurrencies-gathering-trillions-of-

value

54. Experts predicting $100,000 price for Bitcoin: https://learningenglish.voanews.com/a/some-

investors-predict-bitcoin-to-hit-100-000-in-a-year
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

/5678920.html#:~:text=Estes%20predicts%20bitcoin%20could%20hit,the%20end%20of%20next
%20year.

55. Former Goldman Sachs analyst predicts $1 million Bitcoin price: https://www.forbes.com
/sites/billybambrough/2020/10/18/a-former-goldman-sachs-hedge-fund-chief-has-predicted-
bitcoin-is-about-to-surge-to-1-million-heres-why/?sh=6e4c57d7fb6b

56. Bitcoin decentralized: https://www.clevelandfed.org/en/newsroom-and-events/publications

/economic-commentary/2019-economic-commentaries/ec-201912-bitcoin-decentralized-
network.aspx

57. Bitcoin nearly impossible to ban or illegalize: https://www.forbes.com/sites/ktorpey/2019/07

/30/us-lawmakers-are-realizing-they-cant-ban-bitcoin/?sh=3bcd27fd3e31

58. Explanation of Digital Chamber of Commerce and parties involved:

https://digitalchamber.org/about/

59. $23 Trillion opportunity refers to size of FinTech/Finance Industry:

https://www.thewealthadvisor.com/article/fintech-killing-banks-23-trillion-opportunity-ahead

60. Jeff Brown 2016 Square pick: 5 – 240 on 1.8.21 = 1980% (as high as)

61. Total value of US Bank Stocks vs. FinTech: https://www.thewealthadvisor.com/article/fintech-

killing-banks-23-trillion-opportunity-ahead

62. Wall Street $300 billion investment in FinTech: https://www.statista.com/statistics/719385

/investments-into-fintech-companies-globally/

63. Ant Financial: https://angel.co/company/ant-financial

/funding?__cf_chl_captcha_tk__=e77e18d43aa5504ec808b286b2b8f3e94eb5c403-1609906039-
0-AYmHQa12rB5-
NqrwHfB4vExUy9JrLiadIQUvVSfLZXGSoMf0tJFM3-5pmkYGmRXga6g8tYVkPcCuztLg6q6
VGUVUR__AzercL-
vGsY360o_K9RiePAqsoBXUhvFDhgpBkABgzyteUWdXVrAjjGgzVfTh0HjuHpwXYfdAYjIQ
GJ_WmGqMN7a9iTXbl5X6DIeu9b4oyq49SYRpIyJi3-b-REbsgMO1m-
k4MUTCnS3KZi_l7Apx3uYlrG_lo-
_PBng1dpdIMJF82BgLebZydfNC5ASvUPPqLdmMcNazsaGx_QSHq9MNu4cOFtvYb0uzj3iaX
Vh1EDez7ZmOe72BlgiQalrfKSV_AynbojBahFCIPkB_cTOlwmgg4mLi01AMMUehXAPnlQS
Ml0N1Lkj-bg6v22YDKkt8PHRmn-C6Gug5-JiCzHOZisZ0-bWGTOV3-
WtFLKnN77jJGRoZyCyyi928BFLySRnoTd7jOcOUShaAvXwSCt2Rklr5b-
pphWLaGFlxmouXk7NKDz3Fmon8OwfwdBEMtLnnNJMaMC0ZV5Gmq9_uOdYrNNNTtsvrk
QPx_QlyksdYFbFmobBO8rgu0NrXBLtGWFtc4I3CM-
7DBMrOBlTafzjT1Mz6td1TE9JDu0fHrA

64. Stripe: https://www.forbes.com/sites/donnafuscaldo/2019/09/19/stripe-now-has-a-pre-money-

valuation-of-35-billion/?sh=2ab1e5c662e6
https://secure.brownstoneresearch.com/?cid=MKT515291&eid=MKT524998&assetId=AST173395&page=7

65. Adyen: https://www.adyen.com/pl_PL/press-and-media/2014/adyen-raises-250-million-in-

funding-to-accelerate-growth-of-its-global-payments-platform#:~:text=Adyen
%2C%20a%20leading%20global%20payments,Index%20Ventures%20and%20Felicis%20Ventur
es.

66. Klarna: https://www.klarna.com/international/press/klarna-announces-650m-funding-round-to-

further-accelerate-global-growth/

67. Architecture of Financial System/FinTech: https://voxeu.org/article/cbdc-architectures-

financial-system-and-central-bank-future

68. Election/no winner claim: https://www.nbcwashington.com/news/politics/decision-2020/as-

ballots-are-counted-no-clear-winner-on-election-night/2462526/

69. Post-Covid technologies: https://venturebeat.com/2019/11/17/exponential-tech-advances-will-

change-the-world-faster-than-we-think/

70. Tech valuation worries: https://citywireselector.com/news/three-reasons-to-be-worried-about-

tech-valuations/a1389561

71. One-year price for The Near Future Report is $199 on company site:
https://www.brownstoneresearch.com/products/

! February 2021

© . All Rights Reserved.