Replay 805.399.1500, PIN CODE 409029#
Tony: Good morning, TNT! Today is Wednesday, June 25th, 2014. There are 87 questions already! I am super-fantastic! How are you, DC?
DC: I’m great!
Tony: I want to address a few things first. “I listened to a video update from XXX; he said the most important question we can ask is whether the Dinar exchange is in FRN or TRN. If they are FRN, then when TRN becomes official, or FRN money will be worthless.” I’ve been talking about this for years, every time some idiot brings this up. They are not bank notes, they are like mortgages or bonds that guarantee this currency. The UST does advise you to put your dinar money in one account and the other currencies in another account. That is because they are TRACKING it differently, not because it’s a different (US) money. If the TRN are valuable and the FRN are worthless, what are people in the rest of world going to do? We have money our accounts and the rest will be worthless in banks and ATM machines and in the shops? All that’s in your bank account is a number on a screen – that is valuable and the rest is worthless? Who does that make sense to?
I will put the money in the account with all the rest of my money, and it’s all there, and when it transfers over they are doing to tell me that the 100K you have is now zero? Come on! That person should know better, because you know what’s going on in the Federal Reserve and the Treasury.
Another person is asking about the RI: if it has happened, why haven’t we seen it on the boards and such? That’s a good question and we’ll address that later. Also, some people WANT this to carry on until 4. July, but that is their dream date, nothing else. Everyone else wants it sooner.
DC: I do believe we are beyond the point of interference from anyone. Even those trying to block or delay this are not having an impact. It is extremely positive for any time now.
Let’s look at the US banking system first. Many banks over the last couple of years have felt like us, that they have been led on. They bring in their people, do final briefings, and then nothing happens. Meanwhile, they have burned all their people, many have quit, some have got more dinars so they have lost more people. There is only one main Prime Contractor bank; the rest have said they will not do anything until it’s done. Frankly, a lot of us feel that way. They are not spending any more on overtime, and most have disassembled their cash out centers. They just don’t believe what they hear any more. Many politicians feel the same, and say if that if they get jerked around any longer, they will fire people.
They were starting to be notified about things on Friday, then on Sunday at 11pm Pacific they were notified that the process was starting right then, and everyone rolled their eyes and said, “We’ll believe it when we see it”. Then on Monday they continued to report, This is where we are. On Tuesday, they notified the banks and politicians that we are past the point of someone blowing it up – and some have tried over the last five days. Then they came back, finally convinced the banks that this is going down, and this is the window. The banks and the politicians believed them, but because they have been lied to in the past, etc., they said “We will give you that window” and the banks said they would be ready during the window, and if we have to send everyone home, we’re sending YOU the bill. All those things are now cued up, there have been briefings, and they are now sitting at their desks – even those who backed off. They are convinced it has gone past the point of no return, and they are ready to do this. This is very exciting from the banks who had just had enough. They are getting excited, they are getting ready, and we are midway through that window right now.
Tony: We know on Sunday, the banks were given 48 hours to do what they need to do, to finish that and get ready to do this. They didn’t start until yesterday afternoon because they didn’t believe this! They started at 5 oClock yesterday, then last night’s meetings got pushed back but they completed them. They are in meetings all day today, and the window is between here and the 1st. The 4th is ideal because of the holiday, but the 1st is being pushed for what reasons?DC: There are many different reasons: new banking regulations in the US, about foreign account holders, reporting standards, and so on. Politically speaking it’s best for the Democrats to have a nice win for the third quarter so that the midterms will be better. There are a couple of other time-lines that are ego-driven, and some project time lines as well. The banks believe it will happen before then. There are international trading platforms plus the ISX will be linked up with the other stock markets on July 1st as well. That will allow folks to buy stocks on the Iraqi markets as easily as the Nasdaq, for instance. So this has to be done before the first.
Tony: They are still briefing people right now that is will be done before the 1st. That’s why we are this close, at the 25th, and some think it will happen before the first, which I hope is the case. It will have to be done by the 1st (so the ISX can function). The banks are ready, they’ve brought in security and exchange people, refreshed information with everyone, and they have re-established their hours, ready for this to go right now. The only thing we haven’t seen is public announcement in Iraq, although they have said it is effective and have announced the RI.
NBC news says, “Iraq’s new government is ready and new PM has been selected. Maliki is preparing his exit speech.” What do you think about that?
DC: It’s wonderful, but things can change until they are formal. I wouldn’t hold my breath on M retiring until everyone has voted on this. Maliki is extremely bright and we won’t count him out until it’s done. I think it’s 85% likely that Madhi gets it, but we have to see.
Tony: That was NBC today, and CNN is also looking at M: there is not going to be old Iraq ro new Iraq, there is just Iraq. Kerry says that Iraq has until the 1st of July to have government in place or lose the support of the IMF, the US.
DC: they are definitely linked, but you don’t have to have a PM in order to have an RV.
Tony: It’s not a requirement, but a smart person would want to know who is in charge of this money. Do they shock the world by doing this first and announcing it afterwards? I probably shouldn’t have said that; I’m just thinking out loud here. There should be an announcement on June 26th, which is tonight in Iraq. You figure it out!
DC: Let’s talk about the security situation in Iraq. It’s been in the news a lot lately. You have to understand about the ISIS taking over Iraq. It’s not like some giant superior force taking over. It’s more like the Sunnis being disgruntled about how the country is being run, and their part in that. The ISIS are walking in with AK-47, and far superior forces are just walking off the job. It’s more about desertion than about tactical issues. It’s not like the entire country is going to hell. It’s solvable by three main points: 1) revalue the currency because rich people don’t fight. That’s why you have lawyers; 2) they want more Sunnis in the government, and all three parts have to be well-represented with credible folks in the government. Some well-respected Sunni tribesmen have come back and said ISIS has got out of hand and they are calming down. The statesmen and imams have helped calm things down as well. The third thing is that where some bad things have happened they will be prosecuted, just as a police force. Iraq is not as volatile as we have been seeing on the news; most places are okay and some people are just annoyed the situation has gotten out of whack. A small extreme element has been allowed to get out of hand, and that is an easy thing to get over and move past. Everyone we speak to says that they will have a clear and immediate reaction to a new PM, a new currency, and bringing people to justice.
Tony: What we are waiting for has been processed around the globe, and it’s sitting in the banks waiting for the opportune time. They are going over their procedures and the package so that we can help you know what to do. All that is going on right now. The day this does happen, their goal is to get you guys through in the first 72 hours, all those who are paying attention on the internet. Because of that, you guys who are listening right now, they are trying to get you done first, before the other 4.7 million people find out about it. The real goal is for us to go through things with you and you get paid without telling anyone else. They will get the knowledgeable people through smoothly and then they can deal with the rest. Think about that… think about Who Moved My Cheese. We are here to help everybody, but it’s worth your getting through first and then tell everyone who wasn’t paying attention.
310 caller: My daughter is out of the country, but I have a power of attorney to exchange for her, with the routing numbers of her bank, etc. Can I exchange for her?
DC: We don’t know until we get the package; it was verified again this morning that we will be getting those packages and they will explain it all.
512 caller: No answer; maybe he’s going out to start the bus!
909 caller: There’s been a lot of stuff on the blogs lately, and I only started investing about six months ago when I saw some movement. Is there anything true about the global settlements? Do they have to be done before the RV?
Tony: I didn’t believe in those for the longest time, but nothing has to be done before the RV.
DC: I didn’t believe it either, but 1) I was wrong about that, and 2) It has been exaggerated, I think. It has been explained to me by some bright people who keep up with that, but I’m not involved with those settlements. As for the RV, the train has already left the station.
The global settlement concept is that there are several large lawsuits and other issues that have been waiting for resolution for some time. There were funds left over after WWII, when Russia and Asia were massively destroyed, and their economies devastated. Some towns were wiped off the map. So they came up with a plan to reinvigorate the world economy, because it was a real issue that only the US economy was intact. It was like the black death, when the world went to crap for a hundred years. They set up money for reconstruction for the benefit of those who won the war and also to help the enemy lift themselves back up. They had an insane sum of money at the time, and they said they would throw money at things to kick back off. The countries economies did roar back and they didn’t use most of the money, which was invested and has been growing ever since. So this global settlement was about how to deal with this huge amount of money that has been sitting there for 20-30 years. Nobody figured out how to deal with it, but now there is a plan to get this money to different people.
Tony: This is why I never believed it, and neither did DC. A lot of people took advantage of what DC just told you. The lawsuits were started by some people, and others piled in as recipients, and there are a lot of false names on that list. They have been charging people $100-150 to put their names on the list, and to me it doesn’t make sense to buy your way onto a lawsuit. We actually found out it was true because I know some people who have been added in to a federal list to receive $1,000,000,000, and they didn’t pay a penny. If people had explained it right instead of setting up a scam where people are buying a place instead of getting on the government paying people out for free. The government will be sending out checks, for free, and tax-free. WF has sent out notifications that people’s mortgages have been paid off by the US government, and that was part of these programs. I know several people who have received this. I just couldn’t believe it when all we were hearing was from these people setting up groups to take your money to do it.
Caller: Is the Dragon family or Sukarno family connected to this? Is any of that true?
DC: Madame Wu exists. I’m not online much reading about this stuff, but most of it is nonsense. Madame Wu is a senior diplomat with the Chinese government…
Tony: … but if you think she is here to overthrow the US Government or meeting with guys in Reno, then I doubt it.
Caller: People have been talking about quadrillions in gold, and if there was that much gold, it would not be worth anything.
Tony: That’s nonsense and we won’t discuss it.
Caller: My final question is this – If you and Tony didn’t know each other, what question would you ask each other? I heard that asked a month or so back, so I thought I’d ask it again.
DC: Tony, how to you feel about the next four days?
Tony: I feel great! Okay, DC, what’s the date and rate?
DC: I’m not answering that! <laughter>
Tony: The next four days are great, and obviously we’re not telling you everything. Do you think the average citizen is going to be surprised yet happy about the rate when it happens?
DC: I think the average guy will be happy, and the number of people who get the contract rates will be surprisingly high.
646 caller: At the beginning of this call, you talked about the RI. Shouldn’t that be showing in the banks? What is the timetable on that?
Tony: That’s what we’ve been talking about, between now and the 4th. The RI is already live; it has to be live 15 days before the 1st. It’s trading on the back boards. The banks have the rates, they are just not dealing with the public yet because they want to do the RV and the GCR at the same time.
DC: That is one of the reasons that has convinced the banks and politicians to take this seriously.
Caller: So if I call the bank, will I get a rate?
Tony: No. It is being traded on the back screens; it’s not on Forex yet, and the banks aren’t giving us access yes.
Caller: Fox news says Maliki has a third term – did you see that?
DC: Well, CNN says he is retiring, and I think that is 85% likely.
Tony: This thing goes back and forth, hour to hour, and we have been bringing it to you as it happens. It could change again because they are negotiating about this all the time. Maliki will get anything he can get up to the last minute, for himself, his Cabinet, his family, and all the rest.
727 caller: I live in the US and in Italy. Some time back there were rumors that if you try to take dinar out of the country, they will take It from you. Will it ever be possible to take dinar to Italy and exchange it there?
DC: Yes, if you fill out the correct forms and follow the rules and regulations. They don’t want it to bee about money-laundering, because it has so much value. You can carry millions in your pocket, so they will be watching people. So long as you follow the rules and pay your taxes, you’ll be fine. Just declare it and follow the rules. TSA is trained to watch for dinars. Where in Italy are you?
Caller: Just outside Naples, Santa Maria – looks like Switzerland but the food is better!
DC: The food is amazing – I’ve been there.
650 caller: Anything about cashing in a 25K note to pay off reserves?
Tony: I haven’t heard anything on that until we get the package. That was always the plan, but they change every day.
Caller: In terms of this being connected to the GCR, many have talked about debt forgiveness, too. Do you have any information about this?
Tony: The only thing I know about is President Obama forgiving student loans. I do know the government is paying off people’s second mortgages; every person I know of has been part of Wells Fargo, and they just got letters saying their second mortgage has been paid off.
Caller: You have implied that WF is the lead bank; is that correct?
DC: By no means are we supporting one bank over another. But what has happened is that WF is in essence the prime contractor because they have set up the main exchange and are setting up systems for the US citizens. They have also bought a system from the Bank of Ireland that deals with tier 2 banks. If you go into those smaller secondary banks, they don’t want to deal directly with something this big. They will examine the currencies, and then ship it to a WF facility to be authenticated and counted. That’s how a lot of the tier 2 banks will handle the currencies, just like they handle any other foreign currency. The other big three banks have been jockeying back and forth on all this; t here are also some large banks that are prepared for the RV process. The rates were going to be different, but now they will all be pretty much the same, and everyone has been trained to handle this, even at the tier 2 level.
Caller: So what you’re saying is that if you go to your preferred tier 2 bank, they will offer the same international, street and contract rates as the big banks?
DC: We just don’t know if they will have the same contract rates or if the contract rates will only be handled by Well Fargo; it’s gone back and forth so we just don’t know.
Caller: If you go with the contract rate, will we have to leave some of the money there?
DC: That has changed a great deal through the years. Basically, they will charge a flat 2%, and then you will be free to move your funds wherever you want. That 2% is set by the Fed. Let’s say I wanted to take some cash to Italy; I would ask the bank to order 500 euros, and they would charge 2% as a flat fee so they make some money on that exchange.
Tony: So in terms of this RV, if you have 100,000, they will charge 2%, which would be $2,000. That’s the money they will make.
Caller: Are there any other spreads or fees that you should be trying to negotiate down?
DC: Yes, you should negotiate any other fees. They are going to run us through like cattle through a chute, just to get this done. Then you will have a second meeting with your wealth manager, and that’s where you negotiate any charges, operating expenses and/or interest rates.
Tony: Don’t do that during your first appointment, though – except for in Texas!
Caller: I read something about the UST spread that is applied in larger transactions that maybe you can negotiate. Is that true?
DC: The only fee we know about now is the 2% exchange fee upfront.
Caller: I was referring to the actual rate and the fees you will pay, not the ongoing banking relationship. That is up to me to negotiate, I understand that.
562 caller: Are there multiple groups out there, or is there only one?
Tony: There is a whole bunch of groups out there; you’d be shocked at how many there are. The group is not the question – the questions are about who has your money, what rate they have in mind, and what you are trusting with your information.
Caller: Has Iraq satisfied the US and US requirements for the new parliament?
Tony: Parliament is in, but they haven’t announced the last four seats. Kerry says they have to be seated and announced by the 1st of July. They have an announcement for tomorrow.
Caller: How soon will we have access to large chunks of cash to pay of mortgages, etc.?
DC: We understand you will have immediate access. However, we hear that the banks won’t want to do wire transfers over $500,000.
Caller: If we are in a group, they will do their exchange before the general public, is that correct?
Tony: We don’t know that. That’s what I didn’t like, that they were saying that if you don’t sign up for the group, you won’t get paid for two years or whatever. There are legitimate groups, and they have not been paid, although it’s nearly the 1st of July! It’s all going to be public, on Forex and Nasdaq, and they want you to believe you won’t be paid for two years? They are more than idiots.
Caller: On Monday’s call, you said that when this is announced, there might be a few days so that we can contact an attorney and/or financial planner prior to exchanging…
Tony: Initially, they wanted people in the bank within two hours, but now they might you want to have more information before you go to the bank. We’ll see what direction they put out to make it as smooth as possible.
Caller: Will we be able to get or see the NDA before we exchange?
Tony: That is what they told us before, that we can post that NDA beforehand and we can walk through it with you and answer your questions before you go to your appointment. DC?
DC: I believe that is still what they have in mind. We will have to go through some of this pretty fast, especially as they realize (say) paragraph B is not clear or whatever. The banks will also bring in people to help with the educational process. Hopefully that education will get better every day.
Caller: [appreciation for all the information]
703 caller: I saw on a post this morning from one of gurus that the CBI governor and the ISX director are in charge of this RV process, and nothing going on politically in Iraq will affect this. I would think that they would have to have more stability, but is this a possibility?
Tony: Ever heard the term, “everything that glitters is not gold.” DC will explain it to you.
DC: First, the overall political situation in Iraq is linked to the RV, but they don’t have to be in lock-step. They cannot be too out of whack, like if there were to be a civil war. Who has control of actually doing it? Instructions were given on Friday from the CBI, and they were accepted by the ISX, to let the dinar go through at a mid-three-dollar rate. That was agreed with the IMF, with the understanding that it would take a little while to go through the system. Because this is an RI rather than an RV, they have asked for the rollout to be a little slower. They have had tremendous success with the security and political stability. They have now agreed to a time line, and those are linked loosely to the political situation. They would ideally announce the PM at the same time as the RV, but it’s not essential.
Caller: It sounds like the RI is more for the back office than being available to the general public.
DC: The RI could be available to the general public if the banks allow that, but the RV is following so closely behind and it will give us a slightly higher number, so they are waiting for that although the RI is being traded behind the scenes. They are waiting for the RV to populate around the world while they adjust the political side as well. They have now been given an absolute window in which to get it done, and if it isn’t done within that window, then they are not doing it at all. That puts pressure on to get it done right now.
Tony: The RI went through, and now Maliki has pushed it worldwide, so he is willing to wait on the RV until the political side is sorted out. That is, “If you guys back out and screw me over, this is now a lie and we can force this to the public.”
Caller: So he still has that last holding card, that he can push for the RI to go worldwide publically?
DC: They have to get an RV done prior to the RI populating worldwide, so that if the RV doesn’t get done before then, the RI will automatically kick in.
Caller: DC, in your heart of hearts… percentagewise, how much can this go past July 4th?
DC: The world could stop turning, but I would say that the changes are extremely slim. It would take not just one person being a jerk, but all the world leaders being jerks. They are intentionally not taking phone calls from certain people because they don’t want to hear it any longer. So chances are that agreement will keep in place.
Caller: That has made my day after such a stressful roller coaster ride. [appreciation] The delay worked to our benefit because it let us learn more and get everything solid and ready.
DC: I may be a blind-ass optimist, but I really hope that this timing and the dragging out has focused people’s attention on handling this right. This is for the rest of our lives and the betterment of mankind. I really think that a lot of people will refrain from just buying cars, and thinking it through so that they can be better investors and not be the ones who lose it all in a couple of years.
Tony: I hope that most people won’t just blow it, but put 50% aside for taxes, 25% for investment, and then play with the rest. If you don’t, you will never have this kind of money again. If you don’t, the IRS will hunt you down. If you don’t put the money to work, it will be gone. If you do it right, even if it’s only 100,000, then it will support you for the rest of your life.
813 caller: What happens if you are a green card holder and you want to cash in?
DC: That’s a good question, and I don’t have an answer.
Tony: What we heard before, if you are a resident for six months or longer, you can cash in like a citizen. Hopefully this will be answered in our package. That is a very good question, especially in Texas and California; we have a lot of people in that situation.
Caller: You said you wanted a new name for people who are below idiots? They are Fidiots! [appreciation]
DC: I just got a work thing to square away, so I need to bugger off. I think this is a really good chance that this is the last call, that the window has locked everyone in. The train has left the station, and I have a strong feeling it will be before the 4th. I’m excited, it’s a wonderful thing, and I wish everyone the best. We are happy to help and educate as many people as we can.
401 caller: Part of my concern is the whole security issue with the money, especially with the reserves, either getting it to you or cashing in and sending it to the bank. I called up and they said they would ONLY send the reserves to the person who ordered. I don’t want the Security firm lumbering up to my door. Can you help me with that?
Tony: That’s their company policy. The only three things they can do is send it to you, have you pick it up, or cash it out and wire it into your bank account.
Caller: I would be happy if they would wire it to the bank…
Tony: I know that Sterling will buy it from you and wire the proceeds to your bank account. That is their process.
Caller: The lady I talked to said otherwise, and said they would only let you pick it up if it’s 50 million or more. That would be a nightmare for me, having to deal with that much money.
Tony: I will call Frank and see if he wants to do another call, is we’re this close. Before, when he was on our calls, it was my understanding that if you have five million or more, he would fly to you and do the transaction with you, right there… or he will wire it into your bank account.
Caller: I really don’t want do business with the four big banks. Will the 800 number people have information about other banks in the area?
Tony: I understand that they will ask what bank you prefer in your location, but I don’t know that they will have the tier 2 banks on hand. Remember, you can exchange it and then move your money. I also know that some tier 2 banks will do exchanges.
Caller: How do we make sure our full amounts are insured?
Tony: I don’t know. You’ll have to talk to your wealth manager about that. I’m going to split mine up between several banks and several countries. I’m not concerned about insurance because the banks will be busting at the seams. You will have a while to consider that before investing.
970 caller: Can you describe the first basket as you see it, especially with reference of the Zim?
Tony: I believe the Zim is in the first basket.
Caller: Will the Zim and dong have contract rates as well as the dinar?
Tony: The dong does have some higher rates; I don’t know about the Zim. There will be great rates, but I’m not going to talk about that.
Caller: I ordered more Zim that will be arriving Saturday; do you think we’ll be in the banks before then?
Tony: There is a high probability.
Caller: if my choice is to shred the gifting letters to get the contract rate, what do you suggest?
Tony: You mean will you have to pay taxes? There is tax at the contract rate, and let’s say it’s 30%. So you exchange 100K, receive 70K, and give your brother that. Then he has to pay taxes on that, which takes another 20K. You are paying tax twice on the same money. I don’t like doing that.
Here’s another scenario: I can get a higher rate than your gift recipients can, because I take the contract rate. I can put the money into a trust where my brother and I both have check books. We both get to spend the money, without paying double tax.
Caller: If we qualify for the contract rate on one currency, does that automatically give us the right to the contract rate in another country?
Tony: I don’t know.
Caller: Will Canada have contract rates?
Tony: If they have been here for six months, they can exchange (in the US) at contract reates. They have been updating the packages since last the meeting last night. [Note, Tony answered for Canadians, not Canada itself. So far as we know so far, Canada does not get contract rates.]
Caller: You strongly feel you will have the packages and can explain them before we go to the bank?
Tony: That is what they want and what we are hearing… it’s going to take time for us to go through the package and be able to answer your questions. They do understand some will go straight to the banks.
Caller: Are the contract rates and NDA going to be the same for everyone holding dong?
Tony: No. I don’t know about bank to bank; I think they will be different rate to rate.
It’s time, so do you want to say anything? Pam?
Pam: Nope, just have a great time and hope we’re all done!
Tony: We are so close; we are in an active live window at this time. It could be in the next five minutes, any minute, next day or 3-4 days. They are going through this just like we are: they moved people out of the call centers and exchange centers because they were tired of the run-around. They are now bringing them back in and refreshing them. They are finalizing this now. If it does go through on the 4th, the banks will open for this. We gave you a whole bunch of reasons why it would happen on the 1st or before the 1st. Because we’ve said so much about the 1st, it will probably go before then. We are hoping to get the package, we’ll be trained, and then we are scheduled to do call for 7-10 days to walk you thorough it and answer your basic question.
You need to BE prepared – make sure you have all your documents in a folder, know where your currency is, where you are going… all that planning should already be done. I am excited; I think it will be sooner rather than later.
I appreciate everyone on our intel team, and those who feed them information, and all the people in Iraq who are also working on this. I want to thank not just people in DC, but also people in England, New England, Canada, New Zealand, of course the guys on Wall Street, and all the many people who helped us do this for the last four years.
This is a crucial week from now until the 1st, so let’s enjoy it!