The Daily Pfennig is written each business day by Chuck Butler and distributed by EverBank World Markets. The purpose of The Daily Pfennig is not to provide investment advice or to manage your money – THOSE ARE DECISIONS THAT YOU HAVE TO MAKE. If you do hold investments you should conduct your own research and evaluations taking into account other independent sources of information and commentary. The The Daily Pfennig is a general update on the global marketplace, is a commentary on the conduct of fiscal, monetary, and political policy and their collective impact on the currency markets, is the analysis of an individual who has nearly 35 years in the investment business and over 15 years experience in the currency market, is the thoughts of a dyed in the wool Saint Louis Cardinal and Missouri Tiger fan (and sometime Saint Louis Ram’s and Blue’s fan), and is a publication that is designed to provide you with some information, some levity, and some analysis to assist your thinking about currencies and their place in an investment portfolio. All statements, comments and opinions expressed are solely those of the writer and are not the statements, comments or opinions of EverBank or of any of its affiliates, and are subject to change without notice. This is not a solicitation for the purchase or sale of any securities or options on securities, and it does not constitute a recommendation to you or to any specific person of any particular action. EverBank, its officers and employees do not provide investment or other types of advice. All factual information has been obtained from sources the writer believed to be reliable, but the accuracy and completeness of the factual information is not guaranteed. Not all investments are right for everyone. You should conduct your own research and/or consult your investment or other advisor before making any investment.