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Edited by Alfred Adask
Friday, September 18, AD 2015
Between Friday, September 11AD 2015 and 
Friday, September 18, AD 2015, the bid prices for:

Gold rose 2.8 % from $1,108.70 to $1,139.90
Silver rose 3.8 % from $14.62 to $15.18
Platinum rose 1.0 % from $970 to $980
Palladium rose1.8 % from $594 to $605
Crude Oil rose 0.3 % from $44.79 to $44.94
US Dollar Index fell 0.0 % from 95.18 to 95.16
DJIA fell 0.3 % from 16,433.09 to 16,384.79
NASDAQ rose 0.1 % from 4,822.34 to 4,827.23
NYSE fell 0.1 % from 10,040.20 to 10,031.60

"Only buy something that you'd be perfectly happy to hold
if the market shut down for 10 years." --Warren Buffett 

"If the markets shut down for 10 years, what investment would you dare to hold-- 
other than gold"? --Alfred Adask

The war against savings

by Alfred Adask

Reuters published "India's 'gold monetization' scheme could have a big impact on global demand". According to that article:

"Last week the Indian government approved the so-called gold-monetization scheme . . . [by] creating a system in which Indians holding private gold will be able to deposit it at banks-and then earn interest on their bullion holdings.

"The government plans to then make the deposited gold available to buyers across India. The aim is to reduce gold imports from outside the country, which run at nearly1,000 tonnes yearly.

"India's cabinet also approved a 'gold bond' program in which citizens will be able to buy interest-bearing bonds backed by gold, rather than owning physical gold.

"Estimates are that private citizens across India holdtens or even hundreds of millions of ounces of gold-which could become available to the banking system, if the monetization program is well received."

First, note that a metric ton weighs 2,200 pounds. If India imports 1,000 metric tons of gold at $1,200 per ounce, they're importing $42 billion worth of gold each year. India's current GDP is about $2 trillion per year. Thus, India currently spends 2.1% of its annual GDP purchasing more gold from foreign sources. That's 2.1% (more or less) last year; 2.1% this year; 2.1% next year. That's a significant expense for an economy the size of India's and cause for governmental concern.

Second, the Indian government proposes that the Indian people deposit their privately-owned gold into bank accounts and accept a paper receipt in return. Then, the Indian government intends to sell the deposited gold to other Indians who wish to buy gold. The stated purpose for this scheme is said to be to reduce the amount of gold imported into India-but I doubt that's the primary purpose.

The Indian government is trying to put gold into circulation as money rather than allow Indian women to continue to wear their accumulated gold as jewelry to demonstrate their wealth.

Why? What's the Indian government have against gold jewelry and/or gold "saved" in the form of bracelets and necklaces? Well, I doubt that they have anything against gold, per se. But, as you'll read, they have a lot against savings.

The Reuters article also tells us that the primary, intended beneficiary of the new "gold-monetization scheme will be the bankers rather than the Indian people. One of the reasons Indians save/hoard gold is that they don't trust their fiat currency (rupee), India's bankers or India's government. By admitting that the new "gold-monetization scheme" will help the bankers, India's government has almost certainly alienated the Indian people and guaranteed that their newly-proposed "scheme" will flop.

Even so, we can learn a lot by considering India's proposed "gold-monetization scheme".

* For example, India's fundamental monetary problem is that the Indian people traditionally turn their excess wages (paid in rupees) into gold, which they can bury in the back yard or give to their wives to wear as jewelry. Saving their gold is a well-established tradition and also an insurance policy against their government's monetary shenanigans. However, by saving in the form of gold, Indians reduce the supply of rupees in the national money supply or at least slow the velocity of money in their national economy.

By saving their wealth in any form, including gold, and thereby reducing the money supply and/or slow the velocity of money, the Indian people provide a deflationary force in the Indian economy which causes the national economy to be less vigorous and less prosperous than it might otherwise be. Because their gold is saved and therefore taken out of "monetary circulation," the Indian economy is slowed or impaired.

If the Indian people own, say, 300 million ounces of privately-owned gold, they're a wealthy people holding about $330 billion worth of gold. But, because they save that gold rather than spend it, none of that $330 billion is circulating in the Indian economy.

If that $330 billion were circulating in the Indian economy, it would stimulate the economy to grow faster and become more prosperous. Under a fractional reserve banking ratio of 10 to 1, if the Indian people deposited their gold into private banks, those banks could lend the equivalent of at least $10 for every $1 worth of gold deposited into their vaults. Thus, if the Indian government could persuade the Indian people to deposit even half of their estimated $330 billion in gold into the banks, the banks could lend about $1.6 trillion into the Indian economy. Given that India's annual GDP is about $2 trillion, an "extra" $1.6 trillion loaned into the economy could be very "stimulating".

Therefore, you can see why India's government and banks would want to persuade Indians to deposit their gold into Indian bank vaults and then sell their gold to other Indians: doing so would actually reduce gold savings and place more gold/savings into circulation to stimulate the economy.

The problem is that the Indian people know from bitter experience that they can't trust the fiat rupee, Indian government or Indian bankers. Therefore, they trust in gold. Big time. They won't be easily persuaded that "this time it's different" and they can trust the bankers, the government, and whatever gold-backed paper debt-instruments are about to be issued.

* By using their earned rupees to pay for imported gold, India's people allow their rupees to be collected by foreign banks and businesses that then spend the rupees in India to buy India's most prosperous businesses and valuable properties. That foreign ownership should also tend to drain profits out of India and slow and impoverish the Indian economy.

The Indian government presumably wants to slow or stop the growth of foreign ownership of prosperous Indian corporations and businesses. In order to do so, the Indian people must be prevented from buying gold from foreign sources.

However, because:

1) the Indian culture reveres gold as a store of wealth;

2) the Indian people distrust the fiat rupee;

It follows that India's appetite for gold savings is,

3) insatiable and reducing India's supply of currency (rupees) and/or slowing the velocity of money and thereby pushing its economy towards recession.

The Indian government is helpless against the Indian people's distrust of the fiat rupee, the banking system and the Indian government, itself. The government could print more fiat rupees, but that would only cause more inflation, more distrust of the rupee, higher prices for gold, more public demand for gold, more gold being imported by the Indian people, less rupees in circulation-and a persistent drag on India's economy.

There's a lesson here. Once a nation's people lose trust in their government, currency or economy, they tend to save rather than spend, and government will be hard-pressed to regain their trust and restore the economy. Irresponsible governments tend to destroy their own nations.

We see that lesson in India and perhaps also in the US.

I.e., in the Great Depression, the American people lost confidence in the government, economy and possibly the currency. They stopped unnecessary spending and saved whatever they could. The economy stayed in a depression until WWII was arranged and managed to drag America back into prosperity.

More recently, the US government's irresponsible economic manipulations and creations of "bubbles" laid the foundation for the Great Recession of A.D. 2008. Since then, the American people have shown an increased tendency to save and a decreased tendency to spend. Repeated bouts of Quantitative Easing and Near Zero Interest Rates have had little positive effect on the US economy.

If the general theme of this article is roughly correct, I doubt that the US economy will be restored until the government figures out how to restore the American people's former trust in the US government, the Federal Reserve and our fiat currency. Those who don't trust in government, tend to save rather than spend.

In just the last two or three years, the Indian government attempted to stop the flow of gold into India by raising import barriers. That effort resulted in more smuggling of gold into India, a stronger black market for gold, and a rising market for silver and an increased outflow of rupees to foreign gold markets. The Indian government's attempt to use a "stick" to stop Indians from buying foreign gold failed utterly.

OK-given that the "stick" approach (import restrictions) failed, the Indian government is now trying to temp the Indian people with the "carrot" of a new-and-improved "gold monetization scheme". Again, I doubt that they'll succeed.

One implication in all of this is that once the people of any nation lose confidence in their fiat currency, they'll begin to save their wealth in the form of something physical like gold. The only way to overcome a widespread urge to save wealth in the form of something physical is to make that physical substance the backing for the monetary system.

This implies that if the people start saving (rather than spending) and store their savings in something physical like gold, the government may be forced to restore a monetary system that's based on the people's preferred substance for savings. That preferred substance could be gold, silver, petroleum, some other commodity or even collectibles. But in the end, if people start saving rather than spending, government may be compelled to reestablish a currency that's backed by physical gold.

* The Indian government seemingly believes that the easiest way it can stimulate their national economy is to persuade or deceive the Indian people into putting their gold into "circulation" with bank accounts denominated in gold or government bonds backed by gold.

In other words, given that Indians don't trust the fiat rupee, hoard gold, and reduce the money supply, the only way to "stimulate" the Indian economy may be to (at least indirectly) restore a gold-based monetary system that will put private Indians' gold into "monetary circulation". I.e., India wants its people to deposit their gold into bank accounts and allow their gold to be resold to other Indians who will presumably deposit the same gold into their bank accounts only to be sold again and an again to the Indian people. Thus, India's gold would be taken out of private savings and put into "circulation" in the public economy.

India's slow-moving economy is being driven to recreate a gold-based monetary system because the Indian people: 1) are nearly fanatical in their dedication to save whatever wealth they acquire; and 2) won't trust anything other than privately-held gold to save their wealth.

But note well that the Indian economy isn't being ruined by gold-it's being inhibited by savings.

The Indian government's "gold monetization scheme" is less an attack on gold than it is on savings.

* Much the same analysis should apply to any nation whose people come to distrust their government, banks and fiat currency. As distrust builds, more and more people use their fiat currency to purchase gold and drive the price and desirability of gold upward. As people buy more gold and the prices rises, more of the fiat currency is taken out of circulation and saved in the form of physical gold-which tends to slow the economy.

The US Government has, for most of my lifetime, tried to stimulate the economy by inflating the dollar, making it persistently lose value and thereby encourage people to quickly spend their fiat currency rather than save it in banks, hidey holes, etc.. But inflation normally also pushes the price and desirability of gold higher, which causes more people to save their wealth in the form of gold rather than US dollars, which savings tends to reduce the supply of currency in circulation (or at least the velocity of money) and thereby slow the economy.

Therefore, it would seem to follow that-from the government's perspective-in order to stimulate the economy, government must both inflate the currency at the same time it suppresses the price of gold. Why? Because, so long as the price of gold is stable or falling, less people buy gold, less people store their wealth in gold, and the fiat currency supply is not as diminished by people who save their wealth rather than spend it.

Thus, it appears that the US government's economic war is not against physical gold, per se-it's against people who save their wealth, remove their savings from monetary circulation, and thereby slow the economy.

If that's so, then government should be averse to any savings in any physical form. If you spent your wealth on land, buildings, perhaps even commodities, government should be regulating those investments so as to suck the savings out of those investments (perhaps by taxes or fees) in order to prevent wealth from being saved in a way that removes currency from the currency supply or at least slows the velocity of money.

* If you think government isn't waging a war against savings and those who save, explain the Near Zero Interest Rates that we've had for nearly seven years. Near Zero Interest rates are great for borrowers, but terrible for lenders. And who are lenders? They are people who've saved their wealth. They are savers.

Who wants to save their wealth in a bank account if the prime rate is 0.25%? By holding interest rates near zero, the government forces savers to stop "saving" and instead spend/invest their money in riskier enterprises like stocks or bonds. In theory, these riskier investments will stimulate the economy. In fact, Near-Zero interest rates will discourage conventional savings and impoverish those who save.

The government is waging war against savers.

If Near Zero Interest Rates aren't bad enough for savers, what about proposals to implement negative interest rates?

The government is waging war against savers.

David Stockman, economist, former Congressman and Budget Director under President Ronal Reagan agrees. He was recently featured in a video and article entitled "The Fed Is Waging Jihad Against Savers and Retirees".

Stockman knows that government is waging war against savers.

But why a war against savings and savers? Yes, we can see that savings are "anti-social" insofar as they tend to slow the economy. But, surely, there was no "war" against "savers" when I was boy or young man. Why now?

Q: Why would there be a war against savers today?

A: Times have changed. When I was a boy, this nation was a producer. By definition, a "producer" produces more than he consumes. Savings are the result of excess production. At bottom, only "producers" are capable of savings. Savings are good in a productive economy since those savings can be invested in productive corporations, businesses and enterprises that generate more wealth and more prosperity.

But today, we've become a nation of consumers. By definition, "consumers" consume more than they produce. Consumers are largely incapable of savings. As a consumer, your primary job is to spend your currency. You're encouraged to "shop 'til you drop." Insofar as you're saving your wealth in a consumer-based economy, you're not spending-and that's anti-social. From the government's perspective, anti-social "savers" should be punished with low interest rates and higher property taxes in order to get their money out of savings and back into circulation.

In fact, when I stop to think about it, I can see that all private property is a form of savings. For example, everyone knows that, since WWII, the primary form of savings for the American people hasn't been their bank or stock accounts-it's been their homes. In fact, until the onset of the Great Recession, we used our homes as "private ATM machines" to release some of our home-savings for spending by means of second mortgages.

If you can see that your home is a form of savings, how 'bout your car? What about your desk, your computer, the books on your shelves and the clothes in your closet? What about the two years' worth of "emergency food" you've stored in the basement? Just like your gold and silver, aren't all of these items of private property examples of "savings"?

What about deficit spending and the National Debt? Can they be viewed as taxes on (and war against) even future savings?

From this perspective, taxes on private property could be viewed as taxes on private savings. It's arguable that government taxes your private property (private savings) year after year in order to liquidate your savings into a currency that will circulate within, and stimulate, the economy.

It's interesting that Karl Marx said that the essence of communist revolution is the destruction of private property. Given my argument that all private property (land, cars, petroleum, commodities, gold) is a store of wealth and a form of savings that's been pulled out of the national economy and thereby slows the national economy-is it possible that Communism's primary enemy is savings in any physical form (like land, homes, petroleum, gold or other private property) that reduce the money supply or slow the velocity of money and thereby impair the economy?

Without savings, aren't we all necessarily more dependent on government? Without savings, aren't we all less able or inclined to resist government edict? Don't higher taxes necessarily empower the government and disempower the people?

From this perspective, don't higher taxes reduce savings and constitute part of the war waged by government against the nation's producers and savers? Insofar as the producers and savers are being diminished or even destroyed, isn't that evidence that your government is bent on establishing an oppressive, totalitarian regime?

Insofar as we perceive modern economics as a war against savers, we open a new perspective for understanding economics, government actions and government intent.

I suspect that new perspective might provide a much clearer basis for understanding modern economic events.

If vitamins are dangerous, where are the death certificates?
by Herbalist Wendy Wilson

Some seem to have this long-standing notion that modern medicine believes to have curative powers and vitamins and natural therapies are dangerous. I've never seen a death certificate mention the cause of death was by supplements. However, I've seen death certificates list the cause of death to be physician error, drug reactions, drug overdose and underlying cause of organ failure was caused by prescription drugs.  Deaths, which are the result of government protected medicine, have in the past been estimates at best. In 2000, The Journal of the American Medical Association stated that from research spanning from 1990 to 2000 they estimated 225,000 unnecessary deaths by modern medicine annually. It was an estimate because they were working off the cases that were reported and many more go unreported. Researchers state that a mere 5% to 20% of cases are reported each year. What we do know is there are 2.2 million adverse drug reactions and hospitalizations annually. There are over 20 million unnecessary prescriptions filled each year and most are for antibiotics. We have 7.5 million unnecessary surgeries performed annually. And 8.9 million are admitted to hospitals unnecessarily. Americans who depend on their medical system must wake up to the fact that it is a system that self-regulated and is dependent on the voluntary reporting by doctors and researchers regarding harmful drugs and other treatments. Therefore, under reporting means doctors cannot learn from errors. The average patient expects scientific accountability in medicine.
"Relatively few doctors ever report adverse drug reactions to the FDA. The reasons range from not knowing such a reporting system exists to fear of being sued." Medical Pharmacology Text
"In the broader area of adverse drug reaction data, the 250,000 reports received annually probably represent only 5% of the actual reactions that occur." Jerry Phillips, Associate Director of FDA's Office of Post Marketing Drug Risk Assessment
"Because only 5% of adverse drug reactions are reported, there are in fact 5 million medication reactions each year." Dr. Jay Cohen

The Life Extension and the Nutritional Institute of America used vital statistics and thirty years of medical peer review studies to report over 783,936 people in the US die annually from intervention by modern medicine. Researchers feel this number is low due to unreported cases. According to their research, each area of medicine has their own records listing morbidity and mortality. This evidence moves the medical system into first place as the leading cause of death and injury. In 2003, the US healthcare system was 14% of the US gross national product. We have a medical system with huge expenditure and it should be reporting its ability to reverse disease and produce a cure but instead their official documents state the opposite. How do you overhaul a system that is more profitable producing symptom management than a cure? I suspect it would be quite difficult, if not impossible, going about it through lawyers and politicians. You would have to educate people, who would normally have become ill advised patients, to instead become well informed, proactive and healthy individuals. For the past 60 years, this educational process has been gaining speed and the backlash has been; pharmaceutical companies with less liability, mandatory vaccines and mandated health insurance.
"The current system teaches disease management and symptom suppression, which is insufficient to meet our healthcare needs. A reformed system needs a new paradigm that stresses health promotion and treatments that attempt to correct the underlying causes of disease." Dr. John Neustadt, Naturopathic doctor
According to researchers Gary Null, PhD, Carolyn Dean, MD, ND, Martin Feldman, MD, Debora Rasio, MD and Dorothy Smith, PhD, medical science does not look at the big picture with regards to health. They isolate the body into separate specialties and fail to configure the interconnectedness and accumulative effects of stress on the immune system, lack of regular exercise, poor lifestyle food choices, environmental toxins and chemical exposure with regards to health. Instead, they ignore all of that and attempt to reduce symptoms via technology, tests, surgery and drugs. Therefore there is no effort to prevent or reverse the cause of disease.
"By no stretch of the imagination does mainstream American "health care" move us closer to this vision of robust, resilient health. It is a fiscally unsustainable, technology-centric, symptom-focused disease-management system." Dr. Andrew Weill, MD
It is important to know that medical doctors get educated by institutions which are funded by private sector companies involved in drug and medical equipment manufacturing. When doctors are in medical school they are reading text books that tell them most doctors don't report adverse events and that it is extremely difficult to tell the difference between the drug side effect and disease symptoms. If you were a medical student and were taught, "Probably nowhere else in professional life are mistakes so easily hidden, even from ourselves" you would graduate with the mindset that cover-ups are routine and accepted. Doctors are programmed that are no physician or treatment failure and death is only by old age or disease.  This explains why 1 in 20 side effects is reported to hospitals or the FDA. Doctors are also taught to reject any nutritional or natural therapy that can help the body to heal itself.
"Some diseases cannot yet be cured. Until the day that a cure is discovered, we manage those diseases. Advocates of alternative health bemoan the incidence of diseases like cancer and heart disease without considering that they are primarily diseases of old age. Alternative health represents a form of fundamentalism. Obviously, fundamentalism is about religion... Alternative health purveyors and practitioners are charlatans and quacks and dishonest."  Amy Tuteur, MD
Dr. Tuteur fails to see the serious gaps within her healthcare system. When health professionals are closed-minded and refuse to acknowledge other avenues to wellbeing, it promotes a turf war and can escalate to actions whereby removing the competition.
Here is a branch of our government that spent money analyzing medical procedures and published report and nearly 40 years later no action has been taken. The US Office of Technology Assessment stated that only 10% to 20% of US medical procedures have been proven to be safe and effective through clinical trial. The report compared the US to other countries (Australia, Canada, France, Germany, Netherlands, Sweden and the UK) and found the US has higher infant mortality and lower life expectancy compared to these other countries.
So, we now know that there are numerous unnecessary studies, drugs and surgeries each year but one area of medicine is coughing up some secrets. Since the 1800's more women than men are treated for emotional problems, neurosis or hysteria. The word hysteria is Latin for "hystera" meaning uterus. There is a tradition in medicine to perform excessive uterus removal - hysterectomies. Medicine believed that emotional problems in women came from their uterus. So, a surgical procedure to remove it was designed and was marketed as a "cure" for mental instability in women. Modern doctors say they've distance themselves from this belief but women are still treated differently than men and 1/3 of American women will have a hysterectomy before menopause. Here are some other disturbing statistics:
Overall, more women are prescribed drugs than men.
More women are given drugs for disease prevention which offers secondary side effect diseases.
Fetal monitoring confines women to a bed causing higher incidence for cesarean sections.
Mastectomies are used as prevention to cancer and are in the thousands each year.
Normal transitions for women such as childbirth and menopause are heavily medicalized.
Hormone replacement therapy is given as prevention for heart disease and dementia but increases risks of breast cancer, heart disease, stroke and gall bladder disease.
A report by Dr. Barbara Starfield published in the Journal of the American Medical Association, stated that mistakes by doctors, staff and pharmacists create an avalanche of income for the medical establishments and higher death rates. About 18% of patients will experience medical errors and pay for them. This translates into 116 million more doctor visits, 77 million more prescriptions, 17 million more ER visits, 8 million more hospitalizations, 3 million more long-term hospital stays, 199,000 more deaths and $77 billion in extra costs to patients and income to the medical industry.
When the Institute of Medicine looked into the standard of care they discovered that the 41 million Americans that did not have health insurance also received consistently worse care and health outcomes compared to those who had insurance. So, no insurance means you have an increased risk of premature death when in a hospital or clinic. (Health Affairs May/June 2002)
The reality is the modern medicine has its benefits - trauma. However, no treatment can cure a disease and return patients to wellness if the cause of the disease is not addressed. However, with major illnesses, if more money is made by simply managing the disease instead of curing it, then no cure will be executed by modern medicine. I know some people refuse to believe that but if the Institute of Medicine concluded that if you don't have money (insurance) you will not get the same care paying customers get and your risk of dying was greater. What does that tell you about this system of sick care? You also have to suspect something is amiss when medicine forces their treatments on you under duress. For instance, if you want to keep your job, use the public educational system or keep custody of your children you must get vaccinated. If we don't say no, we may see more totalitarian behavior enforcing treatment compliance in order to carry out daily life.
No matter what the future holds it is not a wasted effort to learn how to use herbs to protect your wellbeing. You have non-toxic alternatives for blood pressure, circulation, strong bones, vision, protection from cancer and reduce the occurrence or duration of infections. You have the power and capability now if you exercise it. The more you use herbs the better your instincts become in herbal self preservation. Call the experts in organ cleansing and immune boosting to jumpstart your efforts, call Apothecary Herbs 866-229-3663, International 704-885-0277, If you're serious about herbs you need Apothecary Herbs. Free catalog & herb saving coupons. For a true organic, whole food vitamin supplement see their Body Foundation Food mix (just add to water, juice or smoothie).
Herbalist Wendy Wilson on Herb Talk Live
Saturday morning show:
7 am EST on GCN
Weekday show:
7 pm EST on AVR
Shortwave show 8 pm EST WWCR 4840

Go to Herb Talk Live & Radio Archive area for network link access and past shows to download and share. For Android users you can download a FREE app for Herb Talk Live on GCN. See the download link under radio archives at top of page at

 at Apothecary Herbs

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The information contained herein is not designed to diagnosis, treat, prevent or cure disease. Seek medical advice from a lincensed medical physician (if you dare) before using any product or therapy. 
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