Replay 805.399.1500, PIN CODE 409029#
T = Tony DC = DC Guy C = Caller
TONY - Good afternoon, TNT. it's Monday, August 11, 2014. Today's is going to be a little different. Actually, we're going to give as much as we can. We want to give you a true vision of it. I got requests this weekend to send out a tweet but I didn't want to be accused of messing things up. So I left it alone. It is a great day and going to be a great day. This morning we were asked to not mess this up, don't do anything stupid and be careful what you say. So we're going to absolutely do that.
T - When we left on Friday we were expecting life-changing moments. What happened?
DC - In the Mosque, on TV, radio, etc. everything said they'd announce the PM on Sunday. Even Obama got on the news Thursday night and Saturday addressing the situation in Iraq. He said they'd appoint their PM in a few days. Everything was going fine, until Mailiki had tanks roll through the streets - special forces - as a show of intimidation as well as to show he'd take over if something happened bad. There were some skirmishes and his guards died.
DC - The key personnel were "hunkered down" in all the right spots to be protected.
T - On the last call we said certain people were being guarded but they hoped he wouldn't be this dumb. So this didn't take anybody by surprise. They were well-prepared.
DC - They were highly concerned about him not going peacefully. That thru off the PM schedule and the rest of the world said to Pres. Masoum to get it done.
DC - They said it (the problem) will go away if the world knows who the new boss is. So this morning they made it official, published it in the Gazette - made it official, that Abadi is the new PM. They have a judiciary ruling so it's unlikely changes will be made. Plus, his most loyal followers wanted out and said they wouldn't stand with Maliki anymore. It gave legitimacy to the new PM.
T - The US Admin already made it clear they would back the new president before Sunday. So we knew who the new PM was. Because Iraq is so vital the entire world is taking a strong interest in this. They needed a cabinet member with strong Sunni backing because they felt left out by Maliki. All 3 candidates were good and all agreed a strong Sunni and Kurd presence was needed. Abadi has good reps and connections with all the sects and this will have a very calming affect throughout the country.
DC - When Maliki directed tanks into Baghdad, some people thought it may have been ISIS coming in. A lot of military leaders knew what was going on, some who were loyal to Mailki. So, people with personal relationships, to the US military, friends, etc. are saying they won't put up with anymore Saddaam Hussein antics so they need to back off. What is important to know is that some of his staunchest supporters backed off when he started the tank roll into the city.
T - This is the real world. Some people were offered money. Some were offered to be put in that deck of cards from years ago. Some were actually killed in the firefight. We looked at all the new from around the world and we keep seeing "Iraqi crisis" but it's going from crisis to Christmas.
DC - Bottom line is that once that all got done legitimately and published in the Gazette, plus put on the news locally and around the world and the new PM stated they'd have an inclusive gov't. His cabinet members are almost nearly formed. The CB said "we're good, let's go" and they're ready with a timeline, which we were asked not to share. The rest of the world is saying "let's go." That's what is occurring right now. We can't get into the exact timeline of the rollout. But the key part is done.
T - All the news over the weekend is something we had to go through. We were well-prepared for it. Now at this point it's changing their perspective over there. The military is getting paid with the new rate today. Money speaks volumes over there - cash money! Either take the money or get your face put in the deck of cards. They're making it known throughout the country they're doing something different today. They are re-establishing who's in charge now. This will be a fast process.
DC - If you remember last year they had riots because of all the promises they made they couldn't keep. They started paying over 7 different groups. People are starving, it's 125 degrees, no water, no electricity, etc. so they started paying everybody and that calmed them down.
T - Officially they're telling them today is a day of change. The US is now backing them, along with the Brits and NATO. Over the weekend, on Saturday, Maliki moved stuff out of his office and started burning documents. Then on Sunday he changed his mind. But things are not as bad as it is portrayed to be. It may sound bad but it is right where we need it to be. It can't go on forever.
DC - The US Security Council is jubilant. The IMF is coordinating timelines and rollout schedules, meeting with banks. Banks are ready, the Fed, UST, Homeland Security, etc. now are meeting. I know of 5-6 meetings nationally and worldwide to prepare on the schedule. Are there people who want to delay this further? Yes, it will be that way until it's done. But now that Iraq is a legitimate gov't the momentum is key now that they have a PM. There is wonderful momentum pushing forward now. Can they delay it a few hours? Yes, but I'm not worried about it.
T - So, let's answer some questions. We can't go into a lot of detail because we've been asked not to. DC - I never believed that we could be used as a delay but high-up people told us we were. The nice part is we're trying to do good things. We will comply and not cause any problems.
Q&A begins: ( Again, I will not transcribe "pay it forward"comments. Looking for news and intel...)
[Bank story about how WF is denying they're involved with the dinar]
T - Why would consistently put out the same denial? Because it has not happened. They can't control it and it hasn't happened so they are not going to put themselves out there. What if what happened over the weekend blew up? When Kuwait RV'd their currency after the war all the foreigners got rich and walked off their jobs. If WF had told their employees about this, the day we RV they all would walk off the job. We understand why they're not telling them.
C - The lady I talked to in the main foreign currency department at WF disputes that call centers and exchange centers were being called in to be ready.
T - As God is my witness I know they have. I know the employees on the teams. I understand her telling you that.
DC - I knew where a team was going to report too and I went to where I knew it would happen and at 4 am they all showed up. I did this consistently. We have talked to quite a few folks who are involved in this. Sometimes we have 13 different people telling us the exact same story from banks across the country. I'm not just that good to make up this stuff.
C - I still have to believe her when she says they have never been involved in selling the dinar.
T - Most banks have stopped selling it lately. I have a receipt right here from a bank purchase. It's going to be this way until they make the announcement. And there are going to be a lot of mad bank personnel.
DC - You need to Google this: Bank of Ireland sold their currency department to WF in '08 or '09. At that time they had $6B in dinar right there. It's public knowledge. They knew what was going on.
C - When we go to the bank will they have all the rates available?
T - We don't know yet. We don't have the package yet. They have to do something to talk to the general public. They have to have a plan to get the info out to the masses.
C - Have they officially sworn in the new PM?
T - It's in the Gazette and is being shown on CNN and in the US news. We got it from other countries before we heard it here. Yes, it's official.
C - Are there any other obstacles that could delay the process?
DC - There are people who believe this should be delayed. We've always known this. But they are being managed extremely well now in a positive way. Not everyone will be holding hands as we skip across the finish line. But the vast majority of folks are on board.
C - What about political appointees?
T - There are 3 left to be filled but they shouldn't hold this up.
C - My family is nagging me.
T - When people call you to nag you, they are not doing their own research to understand this. When knew on Friday, when it was to go on Sunday. If we had told you this, we'd have heard, "wrong again. you don't know what you're talking about." Peeps don't understand they decided to have another meeting. People that aren't listening aren't going to understand. When they won't take the time to listen to a call, read up, study history, they just miss out.
DC - I'm going through the same darn thing in my house. Everybody is frustrated with these delays. There are so moving parts and it changes so fast. It's difficult to describe to this to people.
T - I don't go through that at my house. My wife just says "yeah, yeah, yeah." LOL!
C - So, we're just waiting for papers to be signed?
T - No, everything's been signed. The announcement has been made.
C - How soon do you think Maliki will be dealt with?
DC - It's occurring as we speak and they're over halfway there. The majority is done, per some texts I'm getting now. I think today, tonight, by in the morning this will be over. Some involved didn't know they were involved in a coup.
T - You have to realize that by this morning they are missing some people.
C - So, the UST, WF, etc. all want this to happen. It seems the only group left who doesn't want it to happen is the Admin.
T - I won't answer that question.
C - If there was one question to ask DC what would it be?
T - I wouldn't ask him anything. It's just a matter of time. We crossed the biggest issue when we saw it on CNN this morning and knew it's now known internationally.
C - Is WF 2 days ahead of the other banks for when we call for our 800 appointment? DC - They are all queuing up right now. There are meetings going on now since 10AM this morning now that the PM was announced. Our understanding is there will be very little variance between banks. You will be able to choose your bank. Everybody will have to be very flexible because they've changed the rollout procedures - 3 times since last week. They want everybody to be calm and move through the line as smoothly as possible.
C - I don't understand trusts and can't talk to an attorney yet. When we go to the bank and find there's a cap, I don't understand how that would work.
DC - First and foremost, figure out who's the best trust attorney in your area (in the same state). Ask an attorney who they'd use to draw up their own trust docs. They can help you with putting money into trusts. We understand that the contract will have a very limited timeline.
T - She wants to know how to work around any caps on how much you can exchange.
DC - We're going to stay away from that topic.
T - There are some work-arounds. Check the forum.
C - I want to use a different currency to payoff my reserves. Can I still get a contract rate for those reserves?
T - There is a plan for getting contract rates on reserves.
C - About a month ago Forex was making contracts available at a certain rate. Did that take place?
DC - It's best not to touch that.
C - One of the blogs indicated that some private groups had exchanged.
T - We can't answer that.
C - So, we're just waiting for papers to be signed?
T - No, everything's been signed. The announcement has been made.
C - I've been listening to a lot people talking and talking and not asking a question. My question is it possible for anyone here in the US to use family/friends abroad to exchange for them? They've already given it to them.
DC - On the normal street rate, no, it's very straight-forward. It's a non-event. Shouldn't be an issue and almost every country should have it, tho not immediately. As long as they handle foreign currency it should be fine. The rate of exchange will be fixed on the USD.
DC - On the normal street rate, yes, it's very straight-forward.....
11:54 AM [lurker] DC - In other countries the rates will be different and they will have to pay those countries' taxes, too.
C - I've researched the ZIM and found it's not legal tender right now. Zimbabwe is using the USD and British pound.
T - The dinar is not legal tender right now either. Africa is the new frontier, there is so much hidden wealth.
DC - The legal tender issue is that if you're traveling there you can use that currency there. It's legal tender in their country. I'm a huge fan of Africa and have enjoyed the incredibly diverse Northern Arabian countries, to the Sahara, to the coastal regions. It is the least developed of all the continents. A lot of humanitarian and business development will occur there. I already own a business in Africa and think there is a lot of potential there.
C - Do they really use those high denominations in Africa?
T - The 50T and 100T are their notes.
DC - Inflation was nuts over there. Lot of them use USD.
DC - Well guys. Thanks for sharing your Pay-It-Forward ideas. Your personal convictions are dear to me. We do this as volunteers and want to keep that giving mindset foremost. Everyone should have your plan together, including future income security. Spend time on that first. In summary: everything in Iraq is wonderful. The PM drama has subsided in the past 2 hours, per texts I've been getting. It's becoming more secure and stable by the minute. The new PM has triggered events and we are all extremely optimistic that the timeline is close.
T - We expected great things over the weekend and we were almost there. But it's been overcome and it's full-steam ahead now. I don't expect it to take a long time but I don't expect it to happen in the next hour either. It still could be a tremendous week, month for us. We're in a good place. In reality it's closer here than anything else. The sky isn't falling. All you see on TV isn't happening either. They are 5-6 hours behind. Everything we're hearing now is good stuff. I'm hoping this was our last call in this manner and the next one is the one you've been waiting for. If something really good or bad happens I will send out a tweet. Enjoy the rest of your day.