Terms of Service

Liminal-authored public educational guides, public coverage explanations, and their Markdown mirrors are licensed under Creative Commons Attribution 4.0 International (CC BY 4.0). You may share and adapt that material, including commercially, with attribution, a license link, and an indication of changes. This license does not cover the Liminal Macro name or marks, software, private-account content, third-party articles, or licensed datasets.

Public pages may be read and cited with attribution. Crawler permissions concern public content only and grant no right to bypass authentication or rate limits. Automated bulk extraction of the terminal or its data, reverse engineering, and rebuilding the proprietary product are prohibited except to the extent applicable law requires otherwise. CC BY rights in the educational guides remain unaffected by these product restrictions.

The terminal is free: no paywall, no ads, and no subscription. Liminal Macro is an independent LLC with no investors. It is not monetized and has no plans to monetize. Understand today clearly. Liminal Macro does not predict markets, give investment advice, or execute trades.

Effective: October 19, 2026

These Terms of Service ("Terms") govern your use of the liminalmacro.com website and the private-access Liminal Macro product (together, the "Site"). By using the Site, requesting access, or otherwise interacting with it, you agree to these Terms. If you do not agree, do not use the Site.

These Terms are between you and Liminal Macro LLC, an Arkansas limited liability company ("Liminal Macro," "we," "us"). These Terms, the Privacy Policy, and the Disclaimer together govern your use of the Site and are incorporated into this agreement.

You must be at least 18 years old and capable of forming a binding contract to use the Site. By using the Site, you represent that you meet these requirements.

Liminal Macro is a market-intelligence platform that converts market data, filings, news, and macro signals into source-ranked briefings, described in full on the Methodology page. The terminal is free: no paywall, no ads, and no subscription. Liminal Macro is an independent LLC with no investors, is not monetized, and has no plans to monetize. Account-specific features remain authenticated. Features, content, and availability may change or be discontinued at any time without notice, and Liminal Macro does not guarantee uptime, continuity, or any release timeline.

Liminal Macro provides market information, research, commentary, and analysis for informational purposes only. It does not provide personalized investment advice, and nothing on the Site should be read as a recommendation to buy, sell, or hold any specific security, or as advice tailored to your individual financial situation, investment objectives, or risk tolerance. This applies to every part of the Site, including the Liminal Private tier described below, in which content may be organized around and reference portfolio holdings. Organizing information around holdings is not a suitability assessment and is not a recommendation.

Liminal Macro is not a registered investment adviser or broker-dealer. It does not manage client assets, does not execute trades, and does not have discretionary authority over any user's accounts or holdings. You are solely responsible for your own investment decisions, and should consult a qualified, licensed financial or legal professional before acting on anything you read here. Investing involves risk, including loss of principal.

The full investment, market, and content disclosures are set out in the Disclaimer, which forms part of these Terms.

Liminal Private is a separate, authenticated tier within the Site. Accounts are provisioned individually by Liminal Macro; there is no self-service signup, and no fee is charged for access. Within this tier, a user or Liminal Macro may enter portfolio holdings, and briefings are organized around, and may reference, those holdings.

Organizing information around holdings does not make it advice. Liminal Private identifies which market developments touch positions you have entered and states factual exposure information about those positions. It does not evaluate whether any position is suitable for you, does not account for your financial situation, objectives, tax position, liquidity needs, time horizon, or risk tolerance, and does not recommend that you buy, sell, hold, hedge, or size any position. No output of Liminal Private is a recommendation, and no output should be relied on as one. Content served within Liminal Private remains subject to the "Not investment advice" section above without exception.

Liminal Macro does not act as your investment adviser, fiduciary, or agent by providing Liminal Private, and no advisory, fiduciary, or confidential relationship is created by your use of it. You are responsible for keeping your credentials confidential and for notifying Liminal Macro promptly at private@liminalmacro.com if you suspect they have been compromised.

Content on the Site is generated substantially by artificial intelligence, using third-party large language models. AI-generated content can contain errors, omissions, inaccuracies, or outdated information, and should be independently verified before you rely on it for any purpose. Liminal Macro does not warrant the accuracy, completeness, or timeliness of any content on the Site.

To produce this content, material you or Liminal Macro enters, including portfolio holdings, may be transmitted to those third-party model providers for processing. See the Privacy Policy for further detail.

Liminal Macro does not present a performance record, verified track record, or audited results, and makes no claim about the historical accuracy of its output. Any reference on the Site to a prior observation and what subsequently occurred is illustrative of the product's process only. It is selected rather than exhaustive, is not a representation of overall accuracy, and is not indicative of future results. Nothing on the Site is a prediction or a guarantee of any future market outcome.

The public terminal and published research are free to access without an account. Account-specific Liminal Private features require authentication. If you submit an email through a form for Liminal Private or related updates, that request does not create an account or guarantee access. Liminal Macro may grant, delay, or decline access to account-specific features at its discretion. Any authenticated use remains subject to these Terms and to additional terms presented at that time.

In using the Site, you agree not to:

• Submit false, misleading, or fraudulent information through the waitlist or any other form.
• Attempt to circumvent, disable, or interfere with access controls, rate limits, or security features.
• Use any automated system, including bots, scrapers, or crawlers, to access, copy, or extract content from the Site, except as permitted by the Site's published robots.txt.
• Reverse engineer, decompile, or attempt to derive the underlying data sources, models, or methodology behind any briefing or analysis.
• Resell, redistribute, or commercially exploit content from the Site without Liminal Macro's prior written consent.
• Use the Site for any unlawful purpose, or in a way that infringes the rights of Liminal Macro or any third party.

Except for educational content expressly licensed under CC BY 4.0 above, all content on the Site, including text, graphics, the Liminal Macro name and marks, and the underlying product, is owned by Liminal Macro or its licensors and is protected by copyright, trademark, and other intellectual property laws. Liminal Macro grants you a limited, non-exclusive, non-transferable license to access and use the Site for your own personal, non-commercial use, subject to these Terms. No other rights are granted.

The Site incorporates information from third-party market data providers, financial news services, government and regulatory sources, and company filings. Liminal Macro selects and ranks sources according to its own editorial standards, described on the Methodology page, but does not independently verify third-party data and does not control, and is not responsible for, its accuracy, completeness, or timeliness. Market data may be delayed. The Site may also link to third-party websites. Liminal Macro does not endorse and is not responsible for the content, accuracy, or practices of any third-party site.

THE SITE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, ACCURACY, OR RELIABILITY. LIMINAL MACRO DOES NOT WARRANT THAT THE SITE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, OR THAT ANY CONTENT IS ACCURATE, COMPLETE, OR CURRENT.

You acknowledge that the Site provides information only, that investment decisions are inherently risky, and that you are solely responsible for evaluating the merits and risks of any decision you make. You agree that you do not and will not rely on the Site as the basis for any investment decision, and that Liminal Macro owes you no duty of care in respect of any such decision. You assume all risk arising from your use of the Site and from any action you take or decline to take on the basis of it.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, LIMINAL MACRO WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, DATA, GOODWILL, TRADING LOSSES, INVESTMENT LOSSES, OR LOST OPPORTUNITY, ARISING FROM OR RELATING TO THE SITE OR THESE TERMS, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY, OR OTHERWISE, AND EVEN IF LIMINAL MACRO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

This exclusion is independent of, and survives the failure of, any limited remedy or any cap in the section below. If the cap below is held unenforceable in whole or in part, this exclusion continues to apply to the maximum extent permitted.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, LIMINAL MACRO'S TOTAL AGGREGATE LIABILITY FOR ALL CLAIMS ARISING FROM OR RELATING TO THE SITE OR THESE TERMS WILL NOT EXCEED THE GREATER OF (A) THE TOTAL AMOUNT YOU PAID LIMINAL MACRO FOR ACCESS TO THE SITE IN THE TWELVE MONTHS BEFORE THE EVENT GIVING RISE TO THE CLAIM, OR (B) ONE HUNDRED U.S. DOLLARS ($100).

This allocation of risk is a fundamental basis of the agreement between you and Liminal Macro and is reflected in the fact that access to the Site is currently provided free of charge. Liminal Macro receives no fee from you, and the Site is offered on the express understanding that Liminal Macro does not assume financial responsibility for investment outcomes. Absent this allocation, Liminal Macro would not make the Site available on these terms. You and Liminal Macro agree this allocation is reasonable in the circumstances.

Nothing in these Terms excludes or limits Liminal Macro's liability for: (a) death or personal injury caused by its negligence; (b) fraud or fraudulent misrepresentation; (c) gross negligence or willful misconduct; or (d) any other liability that cannot lawfully be excluded or limited under applicable law.

Some jurisdictions do not allow the exclusion or limitation of implied warranties, or of incidental or consequential damages, so some of the exclusions and limitations above may not apply to you. In those jurisdictions, Liminal Macro's liability is limited to the smallest extent permitted by applicable law, and the remaining provisions of these Terms continue in full effect.

If you are a consumer resident in the European Economic Area or the United Kingdom, nothing in these Terms affects your mandatory statutory rights under the law of your country of residence, and those rights prevail over any conflicting provision here.

You agree to indemnify and hold harmless Liminal Macro from any claims, damages, losses, and expenses, including reasonable attorneys' fees, arising from your use of the Site, your violation of these Terms, or your violation of any rights of a third party.

Before starting any formal proceeding, you agree to first contact Liminal Macro at hello@liminalmacro.com with a written description of the dispute, and to allow 30 days for the parties to try to resolve it informally.

Except for claims that may be brought in small claims court, and except as stated in the paragraph below, you and Liminal Macro agree that any dispute arising out of or relating to these Terms or the Site will be resolved through binding, individual arbitration rather than in court, administered under the rules of the American Arbitration Association. Arbitration will be conducted on an individual basis. You and Liminal Macro each waive any right to bring or participate in a class, collective, or representative action. This arbitration agreement is governed by the Federal Arbitration Act. If the class-action waiver above is held unenforceable as to a particular claim, that claim will be severed and heard in court, while all remaining claims proceed in arbitration.

This arbitration agreement does not apply where it is prohibited by the law of your country of residence. If you are a consumer resident in the European Economic Area or the United Kingdom, you are not required to arbitrate, and you may bring proceedings in the courts of your country of residence. EU consumers may also use the European Commission's online dispute resolution platform.

These Terms are governed by the laws of the State of Arkansas, without regard to its conflict of law principles, except to the extent the Federal Arbitration Act applies to the arbitration agreement above. Subject to that agreement, the state and federal courts located in Arkansas have exclusive jurisdiction.

If you are a consumer resident in the European Economic Area or the United Kingdom, this choice of law does not deprive you of the protection of the mandatory consumer-protection rules of the country in which you reside, and you may bring proceedings in the courts of that country.

The Site is operated from the United States. Liminal Macro makes no representation that the Site or its content is appropriate, lawful, or available in any particular location. If you access the Site from outside the United States, you do so on your own initiative and are responsible for compliance with the laws of your jurisdiction. Nothing on the Site is an offer or solicitation in any jurisdiction where such an offer or solicitation would be unlawful, or to any person to whom it would be unlawful to make it.

You represent that you are not located in, and are not a national or resident of, any country or territory subject to comprehensive U.S. economic sanctions, and that you are not a person with whom U.S. persons are prohibited from dealing under applicable sanctions or export-control laws. You may not access or use the Site if any of these representations is untrue.

Liminal Macro does not offer accounts or accept signups from residents of the European Economic Area, the United Kingdom, or Switzerland, and signup from those regions is blocked. The Site is not directed to those regions, and you may not use the Site to create or hold an account if you are resident there.

The Site is not directed to children. You must be at least 18 years old to use it, and Liminal Macro does not knowingly collect personal information from anyone under 18. If you believe a minor has provided information to Liminal Macro, contact hello@liminalmacro.com and it will be deleted.

Liminal Macro may suspend or terminate your access to the Site at any time, with or without notice, including for a suspected violation of these Terms. You may stop using the Site at any time. The sections of these Terms that by their nature should survive termination, including intellectual property, disclaimers, limitation of liability, indemnification, and dispute resolution, will survive.

These Terms may change as the product changes. Material changes will be reflected on this page along with an updated effective date. Continued use of the Site after a change takes effect constitutes acceptance of the updated Terms.

If any provision of these Terms is found unenforceable, the remaining provisions will remain in full effect. These Terms constitute the entire agreement between you and Liminal Macro regarding the Site, superseding any prior agreements on the same subject. Liminal Macro's failure to enforce any provision is not a waiver of that provision. You may not assign these Terms without Liminal Macro's consent. Liminal Macro may assign these Terms in connection with a merger, acquisition, incorporation, or sale of assets.

Questions about these Terms: hello@liminalmacro.com.