Replay 805.399.1500, PIN CODE 409029#
TONY- Good afternoon, it's June 16, 2014 and we never expected to be here but you're going to find out why. We have had a tiring day already, back and forth, up and down. Info is less right and sideways, and it's still coming in. Nothing negative. I didn't have the greatest Father's Day like I expected.
T - We had a plan for this weekend. There was even a schedule for this weekend. Is there a reason for the madness we're experiencing today? Yes but it's not the end of the world. Let's let DC explain…
DC - Good afternoon. I know you're all extremely frustrated like we are. It's aggravating to be doing this call today. Bottom line is that a very last-minute agreement was reached at the very last minute to not release this to the public until the GOI is seated and going through. They wanted a smoother transition. We understand that's any minute, any day. They are announcing they have the votes and it frees up again when it becomes official and goes forward.
DC - Also, as we've said in the past there were massive protests last July and August and they released Qi Cards and it all died down. A lot of the tension will die down once it's released. There are some bad apples in there doing bad things but it's not a major problem. The country hasn't ripped apart. It's very solvable. That's what I got.
T - I'm going back to Friday and work to today with more in-depth info.
DC - Be careful! T - I want to give more details without getting us in trouble. Okay, lot of money at stake. It's Maliki's last day/week in office and things could get out of hand. Some could take money that doesn't belong to them and run. Some could be forced into those situations here at the last minute. Also, just like with our gov't when people get certain benefits and they didn't reach their goals, some believe those benefits belong to the position, not the person in that position. That becomes a sticking point right at the end. It has gone as far as some reaching out to others asking for help to protect their money. Those issues had to be worked out and a deal was put in place.
T - You should be at the bank right at this moment. But the schedule was blown apart. We are trying to solve problems in the future and we not create them. A month ago, two weeks ago, Friday we didn't think we'd have to wait for the new PM. But it's now part of the new agreement and it's not going to be weeks or months. We're getting calls from people over there telling us it's not like what we're seeing on TV here. There are some things going on but not like that. They're playing old footage. There's a purpose for that but we won't get into that.
T - We are still in a good place and things are moving along very fast. It's been one heck of a day already. We're in a good place to get things done and we haven't been affected much.
T - I will tell you that bank people, on Monday/Tuesday last week were told to go home and not come back until July 1. But on Friday night they were all called in. That's how close we were. You were supposed to have a great weekend. But we're still not that far off.
"LIVE" CALL-IN STARTING NOW. C = CALLER | T = TONY | DC = DC GUY | NOTE: ONLY CE/GCR/RV/INTEL RELATED Q&A AND CHAT WILL BE TRANSCRIBED.
T - We are almost there. I understand frustration. But I'm cryptic because I'm saying things I think Americans would understand. But there are some countries listening to this call who don't support us and some who do. There are people who are not supposed to know what's going on. You can pick up on things I'm saying without being too out there.
T - There are reasons they let things happen. The articles coming out of Iraq, the chat room chatter, etc. all that was planned, staged, but got a little out of hand. None of this was by accident. It's not like they didn't know it was going to happen.
DC - Nobody wanted anybody hurt or killed. But they wanted the country to grow up. They had a good election that was well-executed. A lot of things are under control that are not being described on US television. T - I can again today "everything that glitters is not gold."
C - Do we have to wait until 7/1 for them to announce the new GOI? DC - They are supposed to announce the new GOI at anytime, any day. June 14 was the last day of the old gov't and they are operating with an interim gov't. We are now waiting on all the official things about who's in charge to be announced. Could be at any time.
C - Will there be an RV announcement, per se, or will it just show up? T - They didn't want it to be an announcement. They just want it to show up. You're probably just see it and then hear about it here on the boards. Anything could happen.
C - What kind of transition will there be for their new Parliament? DC - That's a real question about what Maliki will do. As much as he wants to continue as PM, that's extremely unlikely. Once election results are formally announced, they form a coalition gov't. There will be a lot of horse-trading going on. They need 170 votes so they negotiate among the blocs and make deals. We understand those deals have been made. They are waiting for the formal announcement which can happen at any time. They are being encouraged to get it done quickly - a few hours to 4 hours at most.
T - We know there are 220 votes.
DC - This is what the new guy wants and thinks he has.
T - Everybody is accepting this except Maliki. Even though his time was up on Sunday and they're in the transition period, everyone is okay with the new guy. Even the Sunni's are okay with the new guy. His reputation is he wants to unite the country regardless of religions. He's telling people he wants to bring them into the 21st century, remove guns from the streets, give people their money, etc. The minute it's formally announced the tension will dissolve quickly.
DC - There are 2 issues: fair gov't and their money. It's just going to go away once it's announced.
C - Have you heard of anybody in recent days doing exchanges?
T - Yes, some private exchanges of people buying dinar to make more money by reselling it. It's just private groups.
C - Are we still looking good for double-digits?
T - High singles but I think it will go up there, IMO. Contract rates are in that zone but we're not supposed to be talking about it.
C - You think we have a good opportunity for this week?
T - Yes, you should have been in there this morning.
C - Is this going to November?
T - No, I don't believe it will. If I have to give a back wall, it would be July 1. If the gov't is seated it will go by that time. If it does wait until the 1st it'll only be a few days afterwards for you to get to the banks. But the plan isn't for it to go that far.
C - In 2003 there was a rumor that Bush bought 5T so he could pay off the debt. Is that still feasible? T - Yes, I heard that. C - Is Obama going to pay off the debt?
T - I don't think we'll have a GCR on Tuesday and pay off the debt on Thursday, for example. It's too hard to explain.
T - There's going to be 2 sets of books. As the economy grows, as we get ours, it will slowly be put in there so it'll look like a natural process.
C - What about the IRS going away? High hopes?
T - Right, high hopes. Who does that make sense to?
C - If it goes until June, will taxes be due July 15? How are we going to estimate it?
T - I don't know. You'll have to see what the IRS says.
C - As it stands right now, what's happening in Iraq shouldn't affect us right now?
DC - Right. The situation in Iraq should expedite it.
T - Up until Friday we were correct about that. There were still some bad apples that need to be taken care of but that's all. It's going to happen but only the timing has been changed.
C - Does the VNN have a contract rate or just a walk-in rate?
T - It has a contract rate and you have to set up an appointment.
C -When this happens is the rate going to start low and work its way up?
T - Yes, I'm referring to the int'l rate. The contract rate is different from the international rate and won't fluctuate.
C - My son saw a brochure about the global change and it mentioned July 1. T - I'm not saying it definitely will done by July 1. That is when they wanted it done. It could go there but right now I think it may be a couple more days. They old guys are out and can't take the money and run. It has to be given to them by the new regime, so nobody has an argument. Because we got to this point the situation is different.
C - I don't want this to be considered negative, but is it possible that other countries could go while we wait on Iraq?
T - No, not at all. And I'll give you a hint: some currencies in basket 1 may show up again in baskets 2 & 3. My understanding is the dinar, VNN, Rupiah and ZIM are all in the 1st basket and are not the ones I'm thinking about showing up in subsequent baskets.
C - If all this stuff going on in Iraq is nonsense, why is CL about to be on FBN telling us the business in Iraq will affect everything? T - If it WAS going to affect in a negative impact, why would she wait until the markets close to bring it up? Why would your own president be saying something if it was terribly wrong?
C - We got to the 1/2 inch line and "they" stopped it? Who is "they?"
T - We hear this all the time. We put out names on the last call. The bottom line in this country is that the buck stops with the POTUS.
C - ZAP's post listed about 15 who are now gone.
T - If they're gone how could they hold it up? The IMF, BIS are all ready to go. The World Bank is ready. We've been discussing that the US didn't want it to go because it affected our economy and 350M people. We have to let the our gov't do what our gov't does. You have no idea what kind of deals have been cut here. We keep track of it. I can't get mad at somebody when he's trying to protect our country.
C - Do you think Maliki is actually gone?
T - Yes, unless he pulls a rabbit out of his hat.
C -Once he realizes he is done, to save his reputation do you think he will declare the RV?
DC - That's what was supposed to happen. We got REALLY close to that happening on Friday. Somebody is really good at holding this up - a really good silver-tongued devil.
C - Can the post-RV calls be recorded so those who can't get in the queue can listen afterwards?
DC -I think there is a lot of concentration on making sure this gets done and I think there are procedures here to get it done at the end. We are getting a lot of mixed signals from different folks with different agendas. We don't make any money, some want us to say other things but we can't say some things.
C - What about the market rate?
T - Whatever rate it comes in at I expect it to go up once the fund managers and people in the markets realize it's real. If you don't know how to play that game, don't. Look at Kuwait's rate. The market will push it up and then it will come down. The Kuwait rate came out originally at 3.22. It shot up over $10 then came back down.
C - There's a guru out there (BGG) saying no GCR, no basket with dong, nothing happening for years. It's very frustrating. DC - What I do know is when 13 or more banks across the US that don't know each other come out and say they're seeing XXX on the Dinar and XXXX on the Dong on their screens with different rates, then I can tell something is going on. It's in the process of revaluing.
C - I would think this would be a perfect opportunity for Maliki to get out of Dodge and leave a legacy. Now we hear Iran is getting involved. What does that have to do with anything?
DC - Good question. Iraq and Iran are neighbors and have many, many religious ties. They cross borders constantly. Iran doesn't want an unstable Iraq. Iraq wants to play well with their neighbor. Iran has been supporting bad guys in Iraq for a long time. They want Iraq to be calm and have been offering support. They are extremely involved with Iraq. Like here in the USA, we have a huge border with Mexico. And what affects one affects the other.
T - The real issue is that Mexico can stand on their side and shoot bullets into TX. So we have to be concerned. Iran has sanctions we imposed on them. Maliki did some backdoor deals with Iran to work around those sanctions. Iran took him in so he's paying them back.
C - I would think they would want to pull the trigger now before the new Parliament is seated. T - A month ago that would have been the best thing to do. At this close point in time that doesn't make sense now.
C - Did the RI really happen with Maliki or was that a smokescreen so he could get re-elected?
T - I'm going to help you out: DC tell us when the RI happened and why nobody else can see it?
DC - Okay, the RI happened on June 26. It confused everybody and a lot of horse-trading went on to get around doing it and having it rescinded. It was a pretty good move to get it cancelled by leaders around the world. One of the deals was it was rescinded so the RV could go forward. Then Maliki got greedy and it backfired on him. At this point, Maliki said he'd RV before he leaves to get credit for it. So the deals were cut so he'd get credit for it as well as some other benefits. Here at the very last minute, some extremely high-level diplomacy came in and traded with him to not pull it off now until the new GOI is seated.
T - He has a deal in place but he showed his hand too fast. So they made a new deal and told him he had to take it.
C - Are there new UST notes coming out? I have a friend who got a new $10 note yesterday. It looked like regular money with gold around the corners, etc. just came out, according to the bank.
T - The $10 bills have been out a while.
C - So it looks like our gov't is planning for July 1.
T - That's been the plan since January and today is June 16. They pretty much got what they wanted.
C - I have a question about the new GOI and Parliament. I've read that the current head of the Parliament has said the new GOI Parliament won't be seated until June 30.
T - I can tell you I don't think you will have to wait until June 30 and a new GOI is to be announced followed by the RV. It is scheduled before then, but that's the best I can say.
DC - The old GOI ended on June 14. Now they have an interim GOI to just keep the lights on. The issues are that the elections results are formally announced and candidate XYZ took this precinct and wins this seat, etc. They have very specific law and procedures to follow. The express way to accomplish this could be 90 minutes but realistically probably 4 hours. All the horse-trading that is going on occurs before that. Once it's called it's going forward.
C - When will the election results be released?
T - I'm reading them now - they came out today and that's very good news.
C - I have a question about our news coverage here? Do they think we're stupid? Not one mention about the Iraqi elections.
DC - I think it's hilarious. They keep mentioning "Prime Minister Maliki." Their sources need refreshing. It doesn't take much to get updated info.
T - You can look at the news across the nation and the newscasters are reading word-for-word the same copy. We hear from Canada all the time that we're not getting the news.
DC - They just don't do the research.
T - I got the call again this morning that's it's not as bad as it's portrayed here. We've seen more about Iraq in the past 72 hours than we've seen in the past 3 years. Why would that be? Think about it. They're saying "there's 5-6M people out there with dinar and if they see this they won't expect it for another 3-4 years." It has a purpose. We can get 40-60K in who did their homework and can get in first. That's great for us. "They" don't have to worry about the idiots who don't listen to the calls. It has a purpose.
T – Okay, guys. We wanted to come on a little late to get the right info. We wanted to explain what happened on Friday and over the weekend. There was actually a schedule of events. But here we are. Time is on our side now.
DC - I'm going to say that things are looking extremely good. We are getting some extremely conflicting info about our involvement post-RV. It may happen quickly and if we are not there it's because it was beyond our control. If it's not us, please help educate the folks. Things can change beyond our control.
T - I'm always willing to do an extra call. We don't want everybody going crazy at the spur of the moment. Let's work together to get it done. The most important thing now is "we the people." Let's do it right. END OF CALL.