Replay 805.399.1500, PIN CODE 409029#
Tony: Good morning, TNT! It is Monday, September 8, 2014. It’s a great day, nothing but great news. You all had an exciting weekend, and it continues this morning. Nothing but great news, and DC will tell you all about it!
DC: I hope you realize that Tony likes to joke around with the tweets, and then I get calls saying, “What did you say?!”
Tony: We have a lot of good news, within the last hour. I think it’s going to be a super-superfantastic if no one messes up in the next 24 hours or the next few hours. We had a long weekend. Let’s go back to some of the step-by-step info with texts/emails.
DC: Starting on Friday. In the afternoon and evening there were celebrations and internal announcements on the RV and how they are putting together the government. There were tons of dignitaries there, and Iraq wanted to show off what it is doing. Well done, Iraq! Everyone was blown away by all the progress they are making socially and politically, and in the infrastructure. It went over incredibly well. Part of it was about the RV process as well. There was some cloak and dagger stuff, but most were very excited on Friday. They expected the GOI to be announced Friday and that didn’t happen because one or two parties got in the way. If you go in forcefully, and someone brings up an issue that has already been resolved, that held it up. Everything is finalized by the CBI and how to go forward.
Abadi said that he is the PM and here are the 32 ministers based on their expertise rather than being family contacts. They are working on power, sewers, roads and ISIL issues, so get on board and sign an agreement to support all these things. This forces everyone to agree that they are going in the same direction. Abadi is not just finding warm bodies to put in each spot; each minister has to have relevant experience AND agree to the direction and goals. A few people outside also caused delays and frustration, but everyone is getting it done.
Five different votes have been scheduled, and some have already happened.
Tony: Initially on Friday, there was to be one vote with five outcomes, but then they created it as five votes.
DC: They were trying to rush things along. Everyone mostly agrees with it all, but to stop the confusion, they broke it up into pieces. Of course, they also had dignitaries to entertain as well. By all accounts, they were all blown away by Iraq’s process. They also got good briefings about what’s happening with ISIL. With RV and a stable, positive government, we can see them moving forward.
That brings us up to the votes today. Anything else from the weekend? [Tony: No.]
So now we have five votes to be done:
1. Confidence vote on Adadi
2. Confidence vote on Ministers
They are going on all that today. Some votes have been done and published online. They started at 8am their time, then another one tonight at 8pm, then Tuesday morning. Those windows correspond to the votes. What most people believe is that to have a seated government, you must have a PM and ministers in place, and we believe that has happened. You also need to have the rest, but they are not vital for the RV, in my opinion. They have voted on most of the ministers, especially those relating to the RV, and the rest are occurring as we speak.
Therefore – how does that relate to the RV? We believe that the PM and CBI are getting it done as we speak. We are not giving a timeline, but it is in process again.
Tony: One vote as been taken and approved.
DC: Yes, and we know the Council of Ministers is being voted on as we speak.
Tony: They have closed the doors, and the National Anthem is being played right now.
DC: We have that from three sources, and that is going on. It’s exciting and wonderful information that it’s getting done. Some said it would be done on Tuesday, but the foreign dignitaries said “Screw that!”. It was supposed to be done this weekend, and that put pressure on the Parliament to get this done.
Tony: Friday this was supposed to happen. Saturday and Sunday some should have been paid. Then the general public would be paid today/tomorrow.
DC: It got down to banks in place, with everyone being called in Saturday and Sunday. Banks at the lower levels were also talking to us, and they were sitting in place getting ready, going over procedures and being told it would happen at any moment. Again, there was last-minute baloney going on, to they shifted the timeline to the right. The timeline is shrinking.
On the financial front, everyone it being notified and if you haven’t heard wind of it, call your boss right now! Again, it’s on a 2-15 minute trigger. All tests have been successful. Any more with Iraq? Most dignitaries are still there and antsy to get this show on the road, which is a wonderful thing. They have a coalition to get ISIL deal with and that is contingent on the RV. Iraq has to do its part to get that moving. Folks interested in other agendas have been boxed in, and everything is going forward. There has been a lot of progress on pushing ISIL back, and the coalition is working with people on the ground so that they can receive arms and supplies. Why is that important? It says that the necessary backup to the Iraqi and Peshmuraga forces are being supplied.
Tony: All that stuff has to be paid for. They are spending a million dollars a day that they don’t have. NATO is involved. In Iraq, they have been making progress, and if they announce the RV and it doesn’t happen, the GOI will be embarrassed in front of their people and NATO – or it will make the obstructionists embarrassed because they all agreed that this should be done on Saturday. AT this point, obstruction is too transparent to their allies and to the people in Iraq. They are getting extensions, but it is by hours, not days.
DC: How many times can you announce it’s going to happen in the next few hours.
I would like to address what the US is doing. Most of the shenanigans are over, and now the US is saying “If we were trying to screw it up, why would we be helping this along?” We all know there is a group of people, mainly in the US, who have been screwing this around for a while. I’m not mentioning sides; they had their reasons and some were understandable. Those people who were fighting for delays are now supporting it. Two and half weeks ago, agreements were signed saying everyone is on board to get this done in the next two weeks, in specific windows. The President had to get on the phone and everyone agreed to this. If some of his team were advising him to delay, why would he be on the phone in agreement? The Bossman came on board in a massive way, and the people resisting this then melted away. Then some folks were very particular about having EVERY minister signing on this because the most important ministers were already on board. So some were sticking to details as a way of delaying this, not intentionally to screw the Boss because everything has to be done. I don’t agree, but that was the argument.
So in these two weeks, they did all these tests and tried to push the Iraqi side along. They could have NOT supported the tests or the GOI, but they didn’t. They supported it instead, even though a few things were not strictly necessary. But they could have messed it up the entire, scuttled the coalition-building, or not supported the Iraqi forces, and therefore allowed ISIL to continue their campaign. My point in mentioning all this negative side is that if they were going to mess it up, they could have done it. Some are saying everything was fixed and then these others messed it up. Yes, there was a little politicking and some ruffled feathers, and those have to be smoothed over. Abadi and his team have proved very adept at that, and at rising above and reset the timing.
We could have messed it up but we didn’t. Most of the delays were personality driven, not intentional. The President, VP and SecState all came on the news saying they would solve all this and get their inclusive government done this week. They didn’t have to say any of that. I am not a spokesman for the administration or anything else; I just want you to see that everyone is now trying to get it done. There are subtle hints in recent speeches about ‘broad economic increase’ in Iraq, massive building projects and what Iraq will become as well as stabilizing the entire region.
Tony: They were specific that the GOI would be announced this week, and also saying it would take an Act of Congress to go back – and Congress is not speaking to the President. All those who need to know those things do know them and everything is done.
DC: We’ve been really close a lot of time, then someone comes and kicks the can. Now everyone is on board and they are actively helping this come together. A different agenda was created last week and everyone is on board.
UN Security Council wants this down NOW. IMF and BIS are coordinating way too many personalities. The banks are all set up. Everyone in the US is now ready.
Tony: IMF and BIS took a major step on Friday.
DC: They did a wonderful thing that built a lot of confidence in a short amount of time. That’s the politicians’ answer.
281 caller: [chitchat] Tomorrow is my birthday!
Tony: I always wanted this on my birthday, because then I would never forget!
Caller: You have basically answered my question. I know this is probably be the last call, so wanted to say thank you before you get on with your superfantastic lives.
Tony: If it happened today, you wouldn’t be mad, would you?
Caller: My birthday wish is that everyone celebrates with me.
Tony: If it happened on Wednesday, you would be okay with that? I think you are going to have the birthday everyone wishes for!
DC: I’m from Texas and I love to hunt so I look forward to 1. September. Iraq always has a problem in September! That happened this year as well, and I haven’t even gone dove hunting yet. That’s been happening for 15 years, and I hope it doesn’t happen this year.
Tony: All the Texans are ready – they have the busses gassed up!
650 caller: I’m more confused today than I was on Friday. WE talked about the constitutional deadline. What needs to be voted on by that date? You are talking about all these votes…
DC: The votes scheduled for tomorrow have been bumped back to today. The constitution requires the formal eating of the PM and all the ministers. Do they really need all the ministers or not? The majority have been seated and they are wrapping up the rest as we speak.
Now it’s in a bit of a limbo because we believe the PM has been voted and the rest of the ministers are being seated now. Under M, he was formally seated some of his positions were filled, but he held the rest himself. So they have a legitimate reason to want ALL the ministers seated. The critical ones have already been done today.
Tony: It’s more about people having the desire to see all the ministers voted on.
DC: The constitution calls for all the ministers to be ‘seated’ which is not the same. The PM was voted on yet again this morning.
Caller: Yes, they said in the news that the PM would have a vote of confidence. Has that already occurred?
DC: yes, that happened. We are on an extension of Plan A because of the slower rollout of seating of the ministers. They are now saying, ‘fine, let’s get this done’. There were too many cooks in the kitchen and then people started arriving in Baghdad, and at the same time, Tuesday is coming up fast.
Plan A and Plan B were set up to prevent the US from doing any shenanigans as they had in the past. The US has been very supportive of this Plan A now. The world leaders have said, Okay, cross all the Ts, if you have to be sticklers. So that moved Plan A has been moved back a little bit, but they are still continuing with Plan A.
Caller: I get that Plan A is about keeping the coalition set and getting this done. The agreements are keeping that in play, but without the windows.
Tony: The timing is still the same, just the day has changed.
Caller: Let’s say these votes all get done. Who then has the balls and says “The terms have been met, so let’s go!”
DC: The BIS, the IMF and the CBI. They are not just waiting for those votes to be taken, they are actively involved. Once those votes are announced, then it’s a go. That’s what we are waiting on, today or tomorrow.
Caller: I am not a member of the forum but we would like to meet you at the event. Is that possible?
Tony: We will have people register on the other sites, not in the forum, so it is not restricted to forum members. Go to the www.tntsuperfantastic.com, .net and .info. However, they signed up months ago, so we may ask you to sign up again once this has occurred. Last time, 8,000 signed up on the first day. We will do the registration over to make sure those people still want to come, so that I can have an actual count.
DC: I don’t want to a be a party pooper, but we don’t know if we’ll be able to have those events. They are taking us on our word that we want to go back to our private lives, and that doesn’t really involve having big parties.
Tony: I want to have the parties and then go back to my private life.
609 caller: Will the banks hold your currencies for a few days before they credit your account? Or will all banks have DelaRue machines?
DC: Some banks [like Chase] send ALL their foreign currency overnight to a central verification location. It is counted, and then your account is credited. They will probably give you 10% immediately, and then credit the rest as soon as it is counted, usually overnight. They will not hold it like a check for three to ten days. We don’t have the package yet, so we don’t know what each bank will do for sure.
Caller: As far as the Zim and the GCR, do you know if it’s in the first basket?
Tony: My understanding is that it is in the first basket.
Caller: Hope to see you in Atlanta.
DC: I want to try some southeast BBQ? I’ve got Texas covered…
832 caller: DC sure sounded like a career politician in his first overview. It sounds like you have enough confidence in those votes to believe that the back wall is not an issue?
DC: We believe the PM and the key ministers are all seated, more than they have done in the past.
Tony: For this not to happen, it will have to blatant that someone is screwing up for the sake of screwing it up. There will be not doubt about that.
Caller: Some have had their exchange for almost a year, and where is that group now in terms blocking this process.
Tony: As DC said, there is a new agenda, and different requirements, so there is much more of a push on getting this done.
Caller: So there is no Plan B?
DC: If someone comes in and screws this up, Plan B will come into force, and that will be really nasty and public. Also, that cuts across what’s been happening for the last two weeks. Stranger things have happened but if someone intentionally screws this up, they will a lot of explaining to do.
248 caller: I’ve been reading a lot of stuff about different things. I am a little confused about whether Maliki has anything to do with the Iraqi government. What is his status?
DC: Like any other ex-president or ex-PM, Maliki will always have influenced. His public support of Abadi has weakened his position. Is there a position open for M? Possibly, because keeping him around is safer than keeping him out. If there is a position as dog-catcher available for him? It’s better to put him in charge of the dogs; the dogs would worry but no one else would. It’s better to keep him contained than to force him underground or into exile. The real debate is whether he will be that involved or in a position that has a title but no real influence. I’m just using that as an analogy.
Caller: Isn’t the president supposed to speak about Iraq on Wednesday?
DC: Yes, he is. The reason he wants to do that on Wednesday is because the GOI should be officially seated on Tuesday. Then they can set up their coalition to deal with ISIL with an official government of Iraq.
508 caller: I’m from Boston, and we make baked beans with chocolate. [call dropped]
303 caller: Greetings from the Mile High City, emphasis on ‘high’. I am not a member of the forum, either. I tried to register for the Sacramento meeting. Will that be honored at some point in the future?
Tony: I’m going to ask everyone to sign up again, if DC’s boss lets me do it. I will send that out to everyone if we have a call.
Caller: Is Biden still in Baghdad?
DC: We are not supposed to tell anyone his whereabouts for security reasons.
Caller: I don’t’ understand the tax position on contract vs international rates.
DC: The CBI will post the rate on their website. The currency will then float, and there will be a market rate for that. The dollar, euro, etc. all float. There will be a lot of pressure on the upside and the downside because people are keen to have some. Let’s say the international rate is $3.71; one day the market might force it up to, say $5. The market rate is whatever the market is showing. The contract rate is what governments are willing to pay players like us in exchange for the oil credits. China wants to buy those in large quantities at a discount. That’s where all this money is coming from for the higher rates.
The tax rate information keeps changing, and we cannot find anything published on that. We have been told that contract rates qualifies as short or long-term capital gains, or if it qualifies it under 512. I understand that there may be legislation that changes the whole picture. It is not decided right now, so we suggest that you set aside the percentage that you would require for taxes right now. In Tony’s state, that is 57%, in my state it’s 44%.
Tony: At one point, we heard that there would be no tax on international rate, 50% of the capital gains due on the lower contract rate, and 100% of the capital gains due. So put enough until this situation is cleared up or by 31. December.
If you don’t set aside the likely amount for tax, the IRS will come after you and take everything but your first-born. Don’t mess with the IRS.
Caller: So the higher the contract rate, the lower the taxes?
DC: We have heard that but don’t believe that, actually. Any way you work it out, you will get more with the contract rate. It is confusing…
570 caller: If they don’t let you have a big party, how about I’ll have a big party and invite you two as the guests of honor? As for paying it forward, I would like to help the vets and also there are people who get sent to prison for things they didn’t know. I would like to help those people with housing and getting their lives back together.
Tony: I saw that – and we seem to see that more in Texas than anywhere else. That is a great place to start. It’s really no different than being a prisoner of war, spending 30 years in prison for something you didn’t do. How do you get those years back, missing your life and family? So it’s great that there are people will help them, like you.
Caller: Let’s say I get a contract rate of $10, I could really help a lot of people. My niece was very ill, and we couldn’t get the treatment, and she died and then her father, my brother, passed as well. You lost your mom! I would love to have had a mom and dad like yours, and I envy you that.
Tony: It’s not the same for our family like ti was two months ago, and I know many feel the way you do, that they will not be able to share this as you would like to. This was not about the US or not wanting us to have money or make donations. If this is about the stability of our economy into the next 50 years, well, then life is what it is. I am not taking this personally; I hope they are benefitting everyone in the country now and into the future. We do hear some personal stuff, but hopefully those people won’t be involved in our future anyway. I know I’m doing things for the greater good, being part of this. She was always saying, “Are they ever going to give you that money?!” Well, I sure hope so.
Next caller: I’m curious about the ‘dignitaries’ that you say are over there; are they political, business? Did they have celebrations over there?
DC: Yes, there were many political types, some business execs, and they were there for celebrations. Most thought they would be headed home on Saturday but they are prepared to stay until Tuesday. Some had to go but most are staying to see the world’s biggest financial transaction take place.
Caller: At this point is Abadi the Prime Minister, no longer PM-designate? Is it in the Gazette?
Caller: is there anything you can tell us about now that you couldn’t in the past?
DC: WE believe that a lot of things are strongly in process about the r=RV that will be revealed to us very quickly.
Tony: We are getting all kinds of news in from the Parliament about what is going on. Votes are being taken; it will be an informative day, for sure. Apparently there is One Star BBQ two miles from the exchange center…
337 caller: When we do an exchange into a foreign currency, do you have to go into US dollars first?
Tony: I don’t think so. I know that Sterling will go straight into another currency, but we’re not sure about the banks. If you are doing it to avoid taxes, you’re up the creek.
DC: I hoped that I could something like that and exchange it chunk by chunk but I’ve been informed that the taxes are due on any profit, whether it’s in dollars or something else. The IRS has beaten us to the punch.
407 caller: You said that you would only take so much to the bank at a time for security reasons. When you call the 800 numbers and tell them how much you have, is that the problem, that they know how much you are taking to the bank?
Tony: The first few hours, you will just be another person at the bank. After this gathers momentum, the banking people will be pissed off. If you have already told someone how much you have, that could be a concern because there is only security at the bank and the parking lot. Unless they follow you 24 hours per day, no one will know when you still have your currencies. The bank won’t let you take out more than $10,000 in cash anyway.
Caller: For someone like me who only has a small amount, what is the best scenario for me to exchange?
DC: I would go for the highest rate I could possibly get. Regardless of your number of dinar, I don’t want my entire financial future or plan in one place at one time. If I were to get mugged, I wouldn’t want them to get away with my entire future fortune.
Two people on Skype: Are we within the windows where this could happen in the next day or so? I know Iraq has gone through many loopholes. What are the penalties if they don’t’ make the deadline?
DC: Yes. If they don’t release that, there will be all kinds of grief. However, Abadi is now the official PM, and all the ministers are being seated, so I don’t think we have to worry about the constitutional issues any more. They have plenty more ministers chosen than M ever had, so they have already passed the constitutional issues.
Now, the RV is a standalone issue, but it is related. The RV and GOI weren’t really linked until about two months ago, at the instance of the US government. Now that they are linked, we had to see the coalition government seated. The PM, CBI and BIS/IMF are now working together to bring this out.
Tony: Iraq has been trying to get this RV since 1. April. They have NOT been the ones holding it back. They couldn’t’ get the other countries and organizations to agree. Now, in the last three weeks, they have created a Council of Ministers, Parliament, plan and agenda. They may not be in perfect harmony, any more than the US administration and Congress always agree.
Caller: There are two paramount issues right now. The constitutional issues have been ironed out and now we have the RV. Are the dignitaries you mentioned there for the government or the RV?
DC: They are there for the RV.
Caller: So we are right on the precipice now?
DC: Yes. Robin Williams once said that parliamentary democracy is like Congress with a two-drink minimum. They may be shouting at each other, but ten minutes later, they all go back into the Chamber like colleagues.
253 caller: How can we take care of our senior parents or loved ones without affecting their benefits? I have read about trusts, LLCs, etc., but would like your views. I would like my parents to travel and have a good time, with no financial issues.
Tony: Do they need more than $14,000 per year to do that? Ray can tell you how to put together a trust. I just let mine use my credit card, or I buy stuff for them. Then they don’t lose their benefits. If you just give them income, that will diminish their benefits. Ray can advise you whether a trust will affect their benefits. If I put their name on a joint bank account, I’ll have to check whether than affects their benefits. That gift limit is $14,000 over a whole year. Meanwhile, I can buy airline tickets and hotel rooms for them, straight out of my account.
DC: You also need to check if they are still qualified for Medicare and retirement homes, depending on their situation.
Tony: I’m not advising anyone about anything; this is just my opinion!
Caller: The earlier caller who wants to help those unjustly in prison should look up an existing organization called VINDICATED.
518 caller: We really need this to happen for a lot of reasons including a suicidal niece. We cannot help because we have no money so I hope this comes through in time. [more of the same] [appreciation]
Tony: Here is some good news. You got a letter from the bank, but my friend got a call from the bank. They asked if he was still planning on bringing in his currency, and when he said Yes, the bank person said he would call back.
Also, we don’t know for sure if all the banks will handle both the dinar and the dong, not to mention all the tier 2 banks. There has been a lot of argument and discussion over it.
DC, it’s time, Pam is sending me a text.
DC: Thank you everyone for your comments and stories. WE know this RV will help solve all of them. The PM has been seated, and 17+ ministers as well. That solves the constitutional issues. Everyone around the world is eager for this to grow through. The visiting dignitaries are there to see this done now, with celebrations. I cannot wait to do the next call!
Pam: Take your time, think about what you are doing. You have the knowledge and skills to do this. There is no rush. Get your professionals lined up. Be kind to each other.
Ray: Enjoy your marvelous Monday, and it will get “marvelouser” as time goes by.
Tony: We are getting stuff every 10-15 minutes that they are posting live from Parliament, and it’s all good. They are cutting it close, but it is getting done right now as we speak. DC told you about five votes for it to be finalized and the announcement. Meanwhile, write down those ten things you need to do first. Make sure you know where your currency is, with any paperwork you need to have with it. Once we have that last call, we will be taking you through the information quickly. I’m happy to do another call later today or at the latest tomorrow, and it will be THE call. Have a good day!