To: Joel Magerman; Joe
Riccardo; Jay Petsc; Jeffrey
Epstein[jeevacation@gmail.com]; Jeffrey Zelin; Jim
Winte
From: Zelin, Barry
Sent: Wed 6/10/2009 5:20:06 PM

THE VELOCITY OF MONEY or WHAT THE BUSINESS CYCLE HAS COME TO.

It is a slow day in the East Texas town of Madisonville.

It is raining, and the little town looks deserted. Times are tough and everyone is in debt and everyone lives on credit. On this particular day a rich tourist is driving through town.

He enters the only hotel in this sleepy little town and lays a hundred dollar bill on the desk stating he wants to inspect the rooms upstairs in order to pick one to spend the night.

As soon as the tourist walks up the stairs, the hotel proprietor takes the hundred dollar bill and runs next door to pay his debt to the butcher.

The butcher takes the $100 and runs down the street to pay his debt to the pig farmer. The pig farmer takes the $100 and heads off to pay his debt to the supplier of feed and fuel.

The guy at the Farmers Co-Op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her "services" on credit.

The hooker runs to the hotel with the $100 to pay her debts for the rooms she used when working.

The hotel proprietor then lays the $100 on the counter so the rich tourist will not suspect anything.

At that moment, the tourist walks down the stairs after inspecting the rooms. He picks up the 5100 and states that the rooms are not satisfactory, pockets the money and walks out the door and leaves town.

No one earned anything. However, the town is out of debt and looks to the future with optimism.

Welcome to our now.

Barry W. Zelin

Axiom Capital Management

780 Third Avenue, 43rd Floor

NY, NY 10017

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