Replay 805.399.1500, PIN CODE 409029#
Pam is reminding Tony that the bill for the forum needs to be paid. Hopefully it will be the last time!
Pam: If they are going to shut us down, let it be for an RV and not because we didn’t pay our bill!
Tony: Maybe there are trying to wait us out, hoping we don’t pay our bill! They nearly got us last month.
Good morning, TNT! It is Monday, September 15, 2014. We never, EVER expected to be here, especially after Friday! We do have additional, up-to-date information as of this morning.
DC: I didn’t expect to be on this call either.
Tony: We are here, and have both East and West to bring up to date. It is what it is! No calls otherwise, nothing to look out for… so let’s do it!
It was a great, great weekend.
DC: On Friday, the CBI in written form and phone calls, they said that they are not waiting on any political move, but doing it when they deem it’s appropriate, so be ready. Then they went silent for Friday afternoon, saying that next time folk here from them it would be good. Meanwhile, television was given detailed specific locations on banks that are prepped and ready for this, saying that they shouldn’t stand in lines, just walk through quietly, and make sure people check the prices as they buy things now. There have been detailed instructions since Thursday on the TV, radio and internet. Even this morning, they said the economic reform is coming very soon or immediately.
All of us are saying, “Okay, what’s going on?” is going on in Iraq as well as here, suspecting that this is another government move to screw everyone over. That is starting to cause an issue, because they expected to have celebrations on Saturday. People are feeling frustrated, wondering what’s going on.
Tony: Go back to Friday. On that day, we knew there was a timeframe, and the whole world thought it would be just before Forex closed, so they would have the whole weekend to do payouts. CBI went quiet and didn’t come back up until Sunday night. They went into detail about where to exchange and what to do when people got there, and to go inside the banks to get instructions. Saturday morning, they announced that this was the day all Iraqis had been waiting for, as a preannouncement for the celebrations that were due.
DC: Everyone is frustrated, but they haven’t turned off the TV spots. They’ve had finance ministers come on to explain what’s happening, and they are putting ‘very soon’ on the bottom of the television screens. The celebrations did not occur. However, Parliament did meet on Sunday, and did the formal seating of the Ministers for the Interior and Defense, plus passing laws to make sure all goes smoothly for the RV.
Tony: I want to make sure we know that Abadi is doing that to show that everyone has their say in an inclusive way. They voted on the ministers, for currency reform, and they sent it all to the Gazette for publication.
DC: On the streets, they are worrying that this is yet another Maliki move, to make last minute demands. Frustration levels are high, and that is not the right attitude for fighting ISIL. The latter are still an issue in Iraq.
Tony: So they are having this on television every day. They are not waiting the US approval to do this or anything else, YET they are getting people excited for the fifth or sixth time, and that is dangerous because they don’t know how the people will react if this doesn’t come through. People are starting to get agitated, saying Abadi is just like Maliki if this doesn’t come through now.
DC: Intelligence, security and politicians are putting on pressure to get this done now. CBI says they are serious, although no one has heard from them in 2-3 days. A lot of folks have held off because they didn’t hear from the CBI. Across the world, bankers, security, etc, go serious, bringing people in and being fully prepared, because the CBI told them to be ready. The CBI still says the y are not waiting on anything political. The tension is getting up there.
Bankers had many meetings yesterday, a lot of people from all levels. They are not being dragged in on a Sunday because they enjoy seeing each other during Sunday football, but to prepare things. Same thing happened with security and law enforcement. Everyone is at a ready state since yesterday afternoon.
Tony: Thursday night, this exact same thing happened – they brought in people for meetings, told staff and security to be in on Friday morning until CBI went dark. The broke it down, only to be called back on Sunday night. So they are feeling the same way we are feeling.
DC: The 2-15 minutes hold is still in play. Across the world there were exchanges going on that were primarily tests, and everything is working well and ready to go. We are all sitting here waiting – antsy, frustrated, ready to move on. Are we waiting for a specific time? My folks say they are just waiting on the CBI to do their business, an that is a short rapid pull. Everyone is trying to influence the windows. The USA has six windows they would prefer, and so does Hong Kong, and the CBI said respectfully that they will take that into consideration but it’s still the CBI’s decision.
Tony: We know that rate has gone as far as the teller level, because they were ready on Friday. It’s not $1.09, just to everyone knows. Also, DC, you were very generous with the ‘test’ statement.
Just to talk about something else for a moment, we can talk about exchange process and procedures while we are waiting for the CBI. So if you have questions about investment scenarios, ask DC while we are waiting. This is a great opportunity for you to invest in E-D printing, which was supported by President Obama. We saw the first CAR made by #-D printing, and they were able to drive it afterwards. The price went back to the 1960s—maybe $10,000. There was a hidden gem in that presentation; at least 100-billion-dollar person will come out of this industry. They gave you a clue or a hint, and it’s something I told you to look at months ago – the real golden opportunity. The 3-D printers will be everywhere, including on your own desktop, and some will start their own businesses with the larger printers. There is still a golden opportunity right in that video.
208 caller: Are we at Plan A or have we slid over to Plan B?
DC: We are in the middle of a bizarre state, neither A or B. The US was being pushy, and now it is Iraq’s hands. A and B have gone out the window. Iraq, because of the US and some others, have been cleaning up the parliamentary ministers and some other cleanup issues. They didn’t have to for the RV; it was a request with incentives. Our understanding is that they got that done last Monday, and some folks who were in town a week ago had created more issues than they intended. So then they had to clear those up. Then the CBI sent out notifications and phone calls to all the banks, saying that it was now up to them, not waiting for any more international stuff. That’s when they started all the television ads. Today, it is 100% in Iraq’s hand now, and has been since 28. August.
Caller: Do you see anything else that would blindside us during this process?
DC: Basically, no. It’s clear that no one is having any of it, or even listening to potential delays. All requests have been flatly rejected. I don’t really any realistic option apart from begging and pleading, and how long can you do that?
Caller: Tony… we lost a few of our mods over the weekend. Can you comment on that?
Tony: I can, but first… they have been talking to their people for 4-5 days. Maybe they want to get it out to all the rural areas before they make the change. We know they were giving examples of the change in prices. So we know they are closer than they were, and we just don’t know why they are holding it back. Parliament signed everything, but yes, they are still holding it back. It could be political; we don’t know.
DC: It’s been saying on television that prices have changed, so merchants have changed their prices. It’s very confusing.
Tony: We’ve been doing this for over a year. Mods come and go; people experience different pressures. I believe n allowing adults to be adults, and people are free to do whatever they choose. It’s a free site, we don’t get paid anything, and people are on the site for different reasons. There is a gamut of things going on. If someone feels that they want to go out on their own, or with a different group of people, that’s okay. There are some things I don’t believe, such as our government falling on Saturday morning, or of our currency changing overnight. I don’t believe in certain things that I feel are only for their groups. Sometimes you just outgrow the people you love.
I talked to Okie on Saturday. I don’t endorse everything he says, and he doesn’t endorse everything he says. I’m okay with that – it’s how you learn. You take in the various pieces and see what makes sense in the big picture.
I accept everybody; then I find out who people are, and threat them accordingly. I’m not afraid of people knowing who I am – it’s all over the internet. I just want to tell the truth. I’ve been offering all kinds of deals, and I’m not interested. I have enough money, and I don’t want to be part of a group that takes your money after the fact. I just say “it is what it is” until it’s done. That is what we do here: tell you what is going on.
I’m just as frustrated as anyone else. They are right: it hasn’t happened yet. They will think they are right until it happens. The rate is X, the President is still the President, and we don’t have pink banknotes. We’re just talking about the RV; they’re talking a bout the whole government, economy and all the rest of it, worldwide. They are talking about ideas and suggestions about how to get paid off this or that organization. I don’t need all that, and if they spent the same time looking at the other currencies, and which ones will be changing in the second, third and fourth baskets, then we could all be looking for the truth together rather than looking at how to rip off people. I’m NOT talking about why our particular people might have left.
Tony: As my wife say, I put on my pants like any other person!
570 caller: I think I’ll have to go back and re-read Jekyll Island. You answered my question about Plan A and Plan B, that we are basically on Plan C. Online, they seemed to be saying the US and UK are holding it up, but you are saying it is in the hands of the CBI. Is that correct? I’m confused.
Tony: Let’s say CBI has all the power right now, because everybody has signed off on everything, given it to IMF and CIS, and all they have to do now is to push the button. Imagine someone is now saying, “You have the power, and we gave it to you so you can tell you people so that they can have confidence in you.” But in the back room, they might sweeten the deal so you don’t do it until Friday, or Monday. What we were doing in the front is now being done behind closed doors, for whatever reason: one-third of the country is occupied and we can help you get them out, or whatever. The danger is that Iraq has told their people to get ready again, and if it doesn’t it will look like what Maliki did. He only expected ISIL to be there for one day and they would grant him martial law, and look what happened there. You cannot unlight a match, so those who think Tony should burn down the house… are you sure that is what you want to do?
DC: What are we waiting on? We don’t really know. We know it’s ready to go, the CBI has to trigger it, and everyone is sitting on the edges of the seats. This is some pretty serious poker with some expert players, so it’s not something you want to drag out longer. Everyone is pissed and concerned that this did not come out on Saturday. Lots of people are saying, “This is not good and it has to be fixed.” The CBI continues to say “It’s up to use” and we know that. There is a lot of debate about timing, but not a lot of outside influence, so we are having trouble understanding what’s going on.
Caller: I would love to see this happen, but you are answering my question, that nobody knows what is stopping this.
717 caller: I know we need to use the right terminology and symbols, such as IQN, VNN, and ZWN. What will be the Indonesian rupiah?
DC: I don’t know.
Caller: Maybe Ray can tell us. Tony, I really see how you are one of a kind, and so gracious to people. You said “political pressure in the back rooms”. Iraq has been such a puppet to the US, and I wonder if Iraq is now saying “This is our ball; we want to make a point that we are now a sovereign state after following the US for so long.” Or, when you talk about political pressure, will the end result be what we are all fearing, that it will explode, is that maybe what someone wants?
Tony: I don’t’ believe they are trying to stick it to us, because in the last administration they were pushing for this to happen everyday, so they would get paid. Now, with this new government, they still have to get their piece of the pie, because that’s how it’s done over there. They could say, “we have to look like we’re in charge”, which they should be. That’s where the confidence comes from in the country, and for the other countries and businesses that want to invest in Iraq. However, you can only say that so many times, especially when you are giving detailed instructions to the people on how to exchange and to check the prices. That is the danger of the game they are playing with their people, and they don’t know where the flare might come from if someone decides they don’t’ want to wait any longer and they take to the streets. That is not what you want in the first month of a new government, and it could happen in an heartbeat. Nobody wants it to get to that point, but they are playing with fire now.
Caller: Help me understand how this makes sense, that we can exchange sometimes for a ‘test’ to make sure everything is going… am I missing something there?
Tony: DC called it a test, but I did have a lady do an exchange and she sent me a copy of the receipt. Over the weekend, she was contacted and they want their money back because they weren’t supposed to do that yet!
DC: Test incidents are where they exchange people to test the system – and we are right to be snarky about that. They are doing a few exchanges under the guise of testing. They are not being mischievous, and they really are system tests while they take care of a few people. That’s fine, as long as they do the RV really soon! What’s much more dangerous is if Iraq pulls the trigger and everyone goes, and then the US says “Oops we have some issues”.
Caller: Were these the international rates they were testing or contract rates?
DC: We know of several people who exchanged, and I didn’t ask the rates because I didn’t want to cause a problem.
Caller: I’ve been doing research on 3-D printing. There is a local company that produces the material to do that.
919 caller: Thanks for picking my call; last week my carrier dropped my line. If ask good questions, can I talk for half an hour with you guys? Joking. Is Iraq now 100% sovereign in the world’s eyes and the WTO?
Tony: They have been referred to as sovereign, they are just a sovereign partner with the US like many others.
DC: WTO accession is a process; they are a piece of the puzzle, not a leading indicator but a trailing one. We will find out the WTO details after the face.
Caller: If I go into the bank, are we still using IQN, VNN, etc.? How do I get the contract rate on the dong?
Tony: Yes. As for the dong, some people have said that the dong contract will not be available, but I think they will have to make it available if only to avoid the hellfire that will result if they do not.
Caller: Another call was saying something about the China contract rate and the US contract rate.
Tony: We don’t know for sure, but we do understand that there are three rates, and they have to use those up. Ask for what rates are available.
Caller: Okie said yesterday that he knew weeks ago that this wouldn’t pop until 15. September at the earliest; did you know?
Tony: yes, some people said it wouldn’t happen until the 15th, and other have said not until the 22nd. I tell you what we are getting from all our contacts and our own observations, where the dignitaries and bankers went to Iraq – for something that they didn’t think would happen for a couple of weeks? It could be, but I don’t see it.
Caller: There was a gentleman who got hurt from another site, and I have news on that, if you would like to keep my phone number and call me later.
801 caller: This is Bella your transcriber. DC, you are doing so much better today! I’m so proud of you! Have been there been any updates as to whether the Admiral’s group will exchange before our groups? You said in the past that the contract is between China and the UST, treated as an oil commodity, with no taxes, but there will be a 9-11% tariff on that amount? What is your opinion, DC?
DC: Our understanding is that it’s gone back and forth a great deal, but the organizing principle is that they already have a good number of people who have all the information they need, and they are briefed and ready to go. If I were starting something, and there was a group who had their act together as opposed to those who are clueless, I would take that organized group first. The groups are only ready to be processed in a few locations, and if you are also in that location, it might take a little longer. For most people, we will go right through.
Yes, I read those docs and they do have a tariff treaty deal; they also reserve the right to change their minds. Example: If I have a rental property and I exchange it for another rental property of similar value, I can defer the taxes. My attorney has been advising me, and I will not be in the Admiral’s group. It is a well-organized group, and some other groups are organized as well. I have heard that they have tried to change things. The tax or tariff is written in there, exchanging like for like as under 1j031 of the IRS code. Also, I am not of aware of their timelines. Some groups will be a nightmare, and I’m not a lawyer so I don’t fully understand, but as a simple Texan, something does not smell right in some of those groups.
562 caller: Do you think that Abadi might take the offer from the US to delay this until November or even January?
Tony: They made an offer and it was declined already. They might be (not the US) slow-rolling him by just getting this doen, then that done, giving Abadi short time frames and seeing how many of those they can do instead of asking for 60 days in a lump. Nobody is going to agree to 60 days! However, the mistake in that is that Abadi has already broadcast that they are doing this, and I think the Iraqi people would take to the streets like they did in the past.
DC: Abadi has been asked to do that several different people, like the President, VP and others. He has been respectful, and replied that this is why the earlier PM got in trouble, while Abadi was brought in to sort all this out. Abadi knows what happened 13 months ago, and people will turn on him if he doesn’t get this released. Abadi could not have had all this come out on television without wanting to get this done. Strategically, he knows that this could blow up in everyone’s face. By broadcasting it now, Abadi is telling the whole world that this has to get done, and don’t ask for any more delays… and if someone does ask, they are being a jerk.
I have friends who are both Dems and Republicans. I had a nice conversations with a senior Democrat this morning, and he said that they need this badly. He said, look at what the midterms look like. The President has the lowest approval rating he’s ever had, and his core constituency is eroding in a major way. He has a great ability to raise funds, but that’s only one part. Immigration issues are causing problems with their major supporters. He has turned the economy, but many supporters still don’t have jobs, and the U6 rate is still high. The Democrats really want this released, even after President Obama’s speech, which was a great speech. All the Democrats are saying “Give us this RV; we need to get some wealth out there and get our people excited to vote again.” If anyone is saying that they want to delay this for election purposes, they are full of baloney. Is there a person who still wants to delay this until January? Yes. But why did the President sign off on this, why is it all on television, and why are they declining US phone calls? Because Iraq wants to get this done.
Caller: Has this RVed in other countries, such as Egypt? We hear the stories…
DC: Some of those were tests, and in some case, the bank thought the RV was live, and so they exchanged. They called folks in and it was fine, and they realized that it had not formally been released. So that is why people have been saying that their family members have gone through. That is going on.
Tony: This was scheduled for Friday evening, and on Saturday morning, it was announced in the mosques, so they started paying people! They just jumped the guns.
Caller: If this doesn’t happen in the next day or two, what’s your opinion?
Tony: I agree, they are playing with fire! If they go back and say that they are going to wait another ten days, a lot of people will be pissed off.
DC: The world is trying to calm down the Sunnis in Iraq and western Syria, and this is poking them with a stick!
Tony: ISIL is paying these people and they want to get paid – they’re hungry!
Caller: Let’s hope we will be jumping up and down any day now! [appreciation]
210 caller: On the forum someone put on a post of what the bank might try to do to you, like not letting you look at the monitor; what could you do to see the contract rate.
DC: I would ask to see it. If they’re not going to be honest with you, go to another bank. The banks will be highly motivated to give you the highest rates, because they get 2% of whatever you exchange for.
Caller: He also put on there that the NDA had investment on it. What would we do if it says investment rather than currency exchange?
DC: I don’t know. The exchange is for the tax situation so I don’t know. I do think that we will be like cattle in the chute, and I suspect the bank guy will look strangely at you if you want to change any details. They will just offer you A, B or C. The bank people I’ve talked to just want to get everyone processed.
Tony: Today is the day to call an attorney to ask how to handle that. Don’t wait until you are sitting in the bank to get that figured out.
570 caller: This is my first time on the call. When we go the bank, do you know if we can request a certified check to put in a separate account to buy a car or house.
DC: The first appointment is just for the exchange. After that, you can move money around however you like, including moving it to other banks.
Tony: You might have to wait 24 hours, but you can go to your regular bank then.
Caller: What if you don’t have one of those banks in your area?
DC: You can get a wire transfer or a certified check to that other bank. Do keep the funds separate until the tax situation is resolved.
Caller: If you could still buy additional dong and hold onto it?
Tony: I would, and that is just me personally. Don’t buy anything you can’t afford.
DC: We are not financial advisers, but the currencies we are talking about are all awesome.
Caller: Would you exchange it all, or hold onto some for later?
DC: I’m exchanging at the highest rate possible, and then I’m out.
239: [Appreciation] If I go into the bank to get a contract rate but it’s not available any more, I don’t want the international rate yet because that might go up in a few days. How do I get another appointment if I’d rather wait for the second mouse?
Tony: I would go to my appointment and see if they have the rate I wanted. If they don’t, I would go back to the exchangers. They will lock your rate in. If you don’t have the ability to watch it go up and down, then don’t do that. Just exchange and we’ll find other ways to make money. This is like an IPO, and it might shoot up and down, and if you get stuck on that down cycle, you lose. But Sterling said he would let you lock in the rate, though I don’t understand how he would do that.
Caller: If I haven’t bought it with Sterling, can I still use Sterling to exchange?
Tony: I believe so. When it’s all over, money talks and BS walks.
Caller: So the international is the set rate, and the market rate goes up and down.
Tony: The international rate is how it starts out, then it goes up and down according to market conditions. Sterling said he will exchange at market rate.
Caller: How do I find the 3-D car video? [Go to Youtube and do a search.] What was the rate on the teller’s screen?
Tony: All I can say is that the rate is over $3.
Caller: Will they have a website where we can see what the rates are?
DC: They are trying to prevent that. You will have a choice at the appointment of A, B or C. That’s why we would prefer to help you all some more is because if there are a lot of decisions to be made, then people need to know what they mean by lower and higher rates/taxes, etc. It will cause chaos. Even after the contract rate is gone, there will still be issues for the bank staff, security, and everyone else. It is so much better if some customers have a better idea of the process, or it’s just going to be a mess.
650 caller: Plan A was that there would be a full RV, contract rate, within a certain period of time. Then Plan B said, “If you guys can’t play nice, the RV will go to some other country, and the US will not get contract rates.” What’s happening now?
Tony: If this thing gets put off until there is another squeaky wheel, that is different from it being in Iraq’s hands. They have the power and authority, but is the desire the same? On the surface, they’ve had a week of “right now”. So now they are letting people know that either you are not really in charge, or you’re willing to piss off your own people at someone else’s behest.
DC: Iraq can absolutely do this whenever they choose. Any delays have been upfront and honest. Therefore they haven’t reverted, and the international community is fairly okay although they are a bit frustrated as the Iraqis are. At least there has been little or no subversion. As long as that is going on, Iraq can do this when it needs to.
Caller: So the CBI has that choice now. The gentleman who was in charge for so long got moved out and now we have a new guy. So that is the opportunity for many changes in timing, support, and so on. Can you comment?
DC: I think you have a good point, but I’m going to argue the other side. Maliki consistently failed to do what he said he would do. When he tried to force it, the US would create an issue, such as that M was not the most honest person. Now the US is saying that we are supporting the inclusive GOI, and we’re in deep doodoo if Iraq doesn’t stabilize. The US is highly motivated and so is Abadi, because he knows the world is not going to put up with another Maliki and his games. So it feels more stable to me. I like the that they are still running those shows. Abadi just slapped a big juicy steak in the face and dared him to do something about it. Also, ISIL is right in their face now. It’s not just the US controlling this. We have given way too much credit to half-a-dozen influential people. China has to fix their oil shortfall. The rest of the world are against ISIL, and those guys are killing and raping their way across the country. This all blocks Abadi and the GOI in to do this NOW, and if not, they’d better have a really good excuse for any further delay.
Tony: In the back room, Abadi must be saying “I would like to help you but I can’t, because the public is waiting and we don’t’ want to see what we saw last August. You don’t want to light that fire again!”
Caller: My concern is not Abadi, it’s the CBI. They took Turki out, put the new guy, and we don’t know what the motivations are of the people who own the CBI. I believe Abadi is the right man for this, but can you speak about Ishmael rather than Turki?
DC: What makes the new guy different is that he can be replaced if he doesn’t do his job. “You do what you’re going to do or we’ll find someone else.” He knows full well that he might be able to arrange a nice place offshore, but it’s only for a few days unless he does what he is supposed to do.
Tony: The fact they brought him in doesn’t matter because everything has already signed off on this. By doing what he did, Abadi has limited the amount he can do in the back room. His position is out there, in public. How long can he do these television informercials, knowing that this has to be in the Gazette by Wednesday?
DC: They will forgive a lot once this get done, but much past Wednesday you will have issues. People are not idiots; they know what Abadi said and didn’t’ say. If he turns off the television broadcasts, it will be a slap in everyone’s face, and they will remember. That’s not just my opinion, but the view of those on the streets. There are only a few ways this can come out, and they are all good for us.
Tony: How will this play out? I think it will end up a great thing for all of us. I might give them until Wednesday, but after all the expectations, the announcements in the mosque and on television… after you are being told that for a week, and it doesn’t happen, that is giving power back to the streets that they don’t want to be there. Even in areas that are not affected, it’s easy to strike that match, and the GOI doesn’t want that because they don’t control it, the people on the streets control that.
It’s after 12, time’s up!
DC: For the 4-5 days, they have told people this is here, and people are very frustrated that this didn’t go through. Prices are changing all over Iraq. CBI have said many times, “It’s up to us, make sure you are ready”. Banks have been prepping and now we need it to happen. We don’t know when, the CBI has specifically said they will do it when they choose.
Pam: We know that we are right here, and we’re in it to win it!
Tony: We have a few minister we talk to us, and every time we have a call, they cannot find the mute button! Ray might be having a preacher problem right now.
Our sources say that Parliament has finalized everything, including economic reform, and the last two ministers. We should see it no later than Wednesday, and be fully recorded in the Gazette, which makes it law. We talked about the messages on television and its impact. Hopefully Wednesday will be either THE call, or our goodbye call. If not, as Pam remarked, the bill has to be paid.
Pam: To make a donation, go to www.tntdinar.com and click the DONATE button.
Tony: I’m sure there will be lots of information on the internet because there is always discussion after our call. I am happy to do another call later today, even during Monday football. I will put out a tweet if we get some really good news, or even bad news. Enjoy your day!