Replay 805.399.1500, PIN CODE 409029#
The call started with the country song God Bless Texas. [giggles and chitchat] Pam says this will be the last time we hear this song. Texans all love her now!
Tony: Good morning, TNT! It is Friday, September 19, 2014. We never imagined we would still be here, but here we are. Today we’re going to do this a little bit differently. There is some updated information and we’ll talk about the holdup as we see it, and how we are past that. This thing has been going on for years, and the US has been the holdup for years. Even when everyone was ready 1-2 years back, the US was the hold up. They wanted a democracy in place and to bring Iraq out of the dark ages as far as financial processes are concerned – into the electronic age for the country and how they connect to the rest of the world. We thought they would do that after the RV.
DC: It could have been done any time but they wanted more advanced ways.
Tony: There has always been an underlying reason for drawing this out, including Basel III compliance and going to asset-backed currencies. Then in April it could have gone, but WE were not Basel III compliant ourselves, although other countries were. The big thing is that we had fiat currency, while being the universal currency around the world. Also in April there was a situation that we knew the dollar would be immediately devalued to a level we could not live with.
DC: There are some emerging markets like the BRICS where the dollar has been the primary currency for commercial transactions. So for some people, part of the plan was to get us totally off US dollars as the world’s reserve currency. Some want to change that to the SDR, a basket of world currencies including sterling, yuan, etc. Now, if the US dollar is not longer the world’s currency, it will inherently devalue. We knew there would be some adjustment – 1-3% as we discussed before – but some folks were very fearful of the USD losing 20-30%. That is the worst case scenario, that if the USD is not the world currency overnight, that would be a shock to the economy. The USD needs to be strong, otherwise there are lots of issues, and the USD also needs to become more asset-backed than we are at present. So that is one argument from those wanting to delay this whole process.
Tony: That was a frantic night back in April, and that is why this got stopped. That was a big piece of the puzzle, along with not wanting to give Maliki the keys to the kingdom.
DC: Maliki could have forced the issue many different times, because he did have the keys at various issues. Instead of the RV, he chose to play for more power for himself and family members. So many different things are causing issues, but the overriding concern is whether the US dollar will be okay.
Tony: Every time he got power, Maliki got greedy. Every time this came up, there were issues with the IMF, where the US has veto power. That was agreed to but never ratified. In order to get around that, the BRICS have come up with five regional IMFs, where certain countries are about to trade their dollars and not the US dollar in their own regions. This also weakens the dollar because we are not the reserve currency. There was a five-year plan around this to replace the US dollar. They couldn’t do the vote immediately, so they decided to weaken the central IMF so they could have their own devolved power. The GCR will change the rates, too.
They decided to slow down the changes. We are still fighting to stay top dog. And we have managed to get the revaluation down to 1-3%, and ordinary people will feel that in rising prices.
DC: And there are people who don’t want this to happen for ordinary citizens, because they don’t want us to have this kind of money.
Tony: they don’t want all of us to have money, because (as Pam says) they see us as toothless crackheads with money. Those were the actual words used (not by Pam). They are saying 90% will be broke after two years, so why give it to them anyway? So April and May and June went by, and there were many discussions about the right time to occur so that the economy wouldn’t feel it as much and they would have used to their advantage. IF this had come out in June, people would have been spending down and the positive things the administration did will be wiped out.
DC: Let’s say the USD went down by 3% max. Everything imported becomes more expensive, and exports become more affordable abroad. Manufacturing goes up. Also, dinarians will be spending money and massively expanding the economy. So many people said that hitting the gas will have more impact than the headwind of devaluation. Tony believes on the other hand that everyday products will be more expensive.
Tony: There are only five million of us spending. You actually get tired spend money. I don’t even want to shop and just buy stuff. I’m looking back in July, and the disadvantage then as opposed to the advantage now. Would it be better to do it now, 30 days or less before the election, so they don’t have the numbers before the election? Also, October, November and December is when the rest of the world because we’re going into the holidays. They are spending, we are spending, and that will hide the devaluation of 1-3%. It’s a reason and a way to disguise it from the public. It doesn’t hurt the mid-term elections because the numbers aren’t there. So it’s a safe zone from this point on.
DC: I agree that it’s a safe zone in terms of what these folks are doing. I think there are many reasons why the US pushed on this delay – the economy, raw politics, and how it affects things when five million people suddenly have more money. Most of all, what happens to the US dollars as the king currency of the world.
Tony: So there are some of the things we have been seeing in the background, that we couldn’t discuss at the time. Where are we at right now? We are now in a safe zone, the US is requesting this be done immediately.
DC: They are applying pressure to Iraq and to those taking their time: “This needs to be done now, stop messing around”, especially in the last week or two.
Tony: So now the dollar effect wouldn’t be as bad as earlier in this year. This is ever-evolving, and there is always something new. Now that all that is coming together and the US is wanting to get this done, now we have an issue in Iraq that we talked about earlier – what they’ve been seeing on television, which is going to another level.
DC: What they keep saying is that the economic reform (RV) is here, and make sure you buy things are the new rate not the old rate, with merchants changing their prices bank and forth. They did this before with Maliki, but everyone knew he was a snake. They want to trust Abadi, but he is stretching their belief system. He’s been promising this for over a week, and people want to know that he is going to do. There are many discussions in the mosque and elsewhere, and now this is causing issues. Intelligence people are reporting back to their countries and there is pressure on Abadi to get this done. It’s starting to boil over a bit, and they are aware of that. This is not a good way to build a country while they are trying to get over M and fight ISIL as well. They have to solve this quickly.
Tony: This could go at any moment. People are looking for excuses, as we see with all the posts about the ministers not being voted in, or voting next week.
DC: ALL our contacts in Parliament say that everything has been voted on four times! What is the point of this all? They are frustrated that they keep running it on television when the people in the chamber say that it’s been settled! That’s the kind of intel we’ve had all this week. Many have said “It’s done; we’re waiting on the reveal.” The public announcements and the budget would be nice to have lined up, but not essential to the release of the RV.
Tony: HCL – we know Maliki fought Kurdistan over that. Abadi came in, and within a week he gave the Kurds the 17% they asked for. It’s a done deal. The 2014 Budget…
DC: The new “RV rate” (3.41) was in all budgets for the last three years. It’s there mainly for building and construction – things not absolutely necessary fro this to go through. They have been prepared for that these last three days but it hasn’t released the RV. They don’t necessarily need it to have the RV, though it’s nice to know where the money goes. They are nearly ready for 2015 as well.
Tony: This has already been done, but Abadi wants to go over it and include everyone in the process, in his inclusive government. There will always be something the GOI is doing every day. That’ is what Parliament does, so it can’t be a requirement for this to happen. Let’s got the CBI.
DC: Our understanding is that all technical issues have been resolved and they are ready to pull the trigger. It’s a little bit of “I’ll do it when I’m darned well ready” and the rest of the world said, “Fine, just do it by X date.” They tried to put it out last Friday and they had a painful technical issue that they didn’t expect. So now we are in the same place we were in last Friday, with everyone ready and telling the CBI to get it done by a certain date. The CBI has been testing the system, and tentative celebrations are planned for Saturday night and Sunday night. We’ve had that before, but it’s nice to see that they are lining up to score again. Everyone is practiced and ready to go. There are dignitaries in Baghdad, and there are international teams helping the CBI now. There are difficulties with security with all these foreign dignitaries arriving for the weekend celebrations.
Tony: This information comes from a lot of different sources. There has always been a four-day activation plan, a plan for stability. It’s always been planned for a weekend, we just don’t know which weekend!
DC: There were two main schedules they wanted to run: Thursday night – Friday am with celebration on Saturday, or Friday-Saturday and celebrating Sunday. That has got looser recently because everything has been delayed so long with power politics, they no longer care to fit it into a certain time. Now they will go it when they do it, but if it’s at a weekend, that’s even better.
Tony: They can always celebrate at the weekend anyway. We are told that if we say it, they will change it. This morning at the mosque, the info we are getting is this could happen at any minute. Everything is ready, and it’s just about what hour they choose to flip the switch. There are not political or technical issues now; it’s just a timing issue.
DC: The Iraqi Defense Force is cranking up the pressure on ISIL, with help from the coalition. They are taking back areas and taking out fighters.
DC: The IMF is helping to coordinate timing with the BIS – thanks, because this is not easy. The UST is now highly supportive. The banks are ready and all their staff are cued up to work at the weekend if needed. Security, call center and exchange centers are all set up across the US. Banks have been put on alert, and they have alerted their staff.
832 caller: I know why you’re frustrated – I watched the Raiders. [laughter] What I understand is that Iraq has RVed in country. Why are they frustrated therefore?
DC: Right now in Iraq, they have a system with five different rates, which is aggravating them. There are people with Qi cards that are only activated in Iraq, so they have thousands in their banks accounts. Their pensions have been paid, and the rate is 3.71 in country. Another group has 3.78 on their cards, and can use their bank accounts internationally. We have good friends outside the country using their cards, and they are spending all sorts of money. Then you have folks with a 3.41 rate on their cards, but they cannot spending; it’s pending the release. So they can see their number and meanwhile they are starving, can’t feed their families or pay their rent. Then there are folks who don’t have bank accounts, and they are trading on the street rates of 1160. Some of those have a local rate of 1:1 or even two dinar to the dollar. So you don’t know what things cost. Meanwhile, merchants were told to change their prices and they did – but no public RV. They’ve been wanting to bring in the larger notes, and that means that the bills on the street are getting worn out. Then of television it says the rate is coming, and in a tribal culture they are saying “Uncle M overseas has a new Mercedes, and I can’t feed my family!” So Iraq must get to a place where there is the same rate throughout the country, and a realistic international value.
Tony: Iraq doesn’t go by our laws or standards. A dollar is a dollar in California and in North Carolina. That’s not how it works in Iraq. The rate can differ from one market or neighborhood to the next. The privileged have privileges! We have to understand it from that perspective. The reality is that, over there, it’s their world and that’s how they do it.
DC: The citizens have been forced into this, and it’s been going on for so long that it’s caused lots of issues. Now they are saying “We’re supposed to have this done? What’s going on?!”
Tony: Last Saturday, in the mosque, they announced that “this is the day all Iraqis have been waiting for”, and it didn’t happen.
Caller: I’ve asked questions about future directions. I’ve done research and I haven’t found any answers. In terms of currency movements, who do I talk to? For the ones I own now, they are telling me it’s a scam! So who do I talk to?
Tony: A lot of the stuff I know is from insiders. It’s going to be hard, but look at the GCR and see which countries/currencies could do better. It will be the low ones coming up. After the RV+GCR, look at what low countries will come to unbelievable rates. DC has a list of ten!
DC: I don’t have a list of ten. You need to have a plan. Pay your taxes, get out of debt, invest a conservative amount that guarantees an income in conservative assets like bonds – whatever will give you a comfortable income. There will be money left over that you can use to look at medium-risk investments like stocks in Iraq, Vietnam, the UK, and India – countries that are poised for upswings. Then use a small amount in higher risk areas like playing the markets.
Tony: Don’t do Forex unless you really understand it! If you are going to buy other currencies, go to the bank and buy it as a long-term investment. Hold it; don’t buy and sell according to short-term fluctuations. The last call I talked about Zim, it went from $20 to $32. Now, after speaking about it on Wednesday, the price is now $80!
DC: I’m not a financial adviser, I’m just me. Do I think there will be another major revaluation? Realistically, no. Will some currencies revalue in the next 6-12 months? Yes, but most will be locked out of that because they don’t want everyone and his mother in this situation again. Who will benefit from the RV and hold value? Investing in the Iraqi stock market is a natural direction because of the RV. Investing there means I am playing with the Iraqi dinar, in effect, and I would expect that to go up. I’m big on UK because they have more dinar per capita than anybody, so they will pop like a son of a gun. Is there going to be another RV where will make 3,000%? I doubt.
Tony: We don’t know if the Zim will delete six zeroes or nine. If nine get lopped off, the dong is the best ROI of these currencies.
Next caller: I heard that if this doesn’t go by Sunday, something drastic will happen?
DC: I do think it’s lining up for this weekend, including Monday. Can they do this without the dinar? No. The arguments are just bickering amongst friends.
Tony: Is there a new date in place, like we heard the 16th to the 20th?
DC: Yes, like NOW! The other dates were not accurate.
650 caller: What is the meaning of the ‘four-day activation plan’ you mentioned?
Tony: I’m going to change that to ‘activation/stability plan’.
DC: It’s a big giant ‘what if’, because nobody has ever done this on such a huge scale. The issues is connectivity, so they would ideally like to roll this out is to make an announcement AFTER it’s showing on the screens, then have a celebration. Everyone wants to congratulate Iraq on such a tremendous way. During the celebration, the Iraqi banks will be limited or closed. This five-tier system has already absorbed some of this, and now there will be relief as they roll it out as slowly as possible. In the US they will bring in groups first – not because they are better, but because they are already organized, educated and ready to go. The groups are readier to go through, so in some large cities where there are groups might have to wait a day. In other towns, we will go through very quickly. In the US, they would be happier if the dinarians all go through at the weekend, because it’s easier to contain our celebrations and security at the weekend.
There has been an argument by Forex guys concerned about the market rate. Others prefer to see all the Iraqi and US citizens through on a stable rate before it gets adjusted by market forces. That is actually easier on all of us as well, but the Forex guys want it to be in market (actively traded) right away. We don’t know which will win that one.
Tony: It also makes it easier for the banks to have similar rates. There are two large legitimate groups, and some other groups that are not legitimate, and that you will have to deal with. I’ve been warning you for years about that. There are probably over 200 groups out there with a fixed contract rate. They want those people in and out, signed and done and over with before this hits the market. That is a reason to get them done first.
Caller: The best thing would be to set a consistent rate in and to Iraq in order to signal what is happening internationally. Why has that not happened?
DC: Because that forces an international RV. It’s a weird system that continues to get weirder. They can write checks overseas and get them credited at the new rate! I understand why they did that, but don’t understand why they have continued this long and made it more complex.
Tony: They did it because of the global requirements. They just weren’t ready for the RV to go worldwide. You can do it piecemeal or for the privileged, but not for all the citizens – otherwise, you would have to do it internationally.
Caller: What are the forcing functions here?
DC: There are many bills due this week, and they might be a day or two late. The downside of NOT paying those bills is that support, the ability to pay the coalition, to fight ISIL and to pay their own citizens – those will all go away.
Tony: What you are trying to get us to say “once X happens, then the RV will happen.” But we know that if we tell you the final steps, that will become an issue. We have told you already that everyone is ready, that the ‘drop dead date’ is in place, and we will have to wait until that date comes up. We were told again this morning “don’t say that or it will become an issue.” That is the straight scoop. There is a time, it is timing issue, and we cannot do any better than that.
DC: We have given the times. The international community, the coalition, Abadi and everyone else has promised it will be done by Monday. Have we been here before? Yes. We don’t know any major or minor issues causing an issue now. Everyone is lined up and ready to go.
Caller: Is there teeth to whatever consequences if this doesn’t come to action.
DC: If it doesn’t happen within the time we expect, someone will step in and encourage some action.
Tony: What you are asking us is “If this doesn’t happen by Monday, will someone force it to go on Tuesday”? I don’t know! Nobody knows!
There is a Plan B, but we don’t know if it will go into effect. We thought it would go into effect last week! The situation changes, and I cannot predict that. There is a plan but I don’t know if it will go into effect. We can’t predict anything in this situation.
740 caller: I got into this kind of late, and when I first started listening, the emphasis was about the GCR and four currencies. Lately, I’ve only been hearing about the dinar. Do they still expect these other ones to go in the same basket? And why, when Iraq is doing the work with the CBI, etc.?
DC: This whole RV was originally just supposed to be Iraq because of oil, agriculture, and it’s original rate of about three dollars. Saddam comes and screws up the country, and we wanted to revalue once that got sorted out. Other countries wanted a piece of the pie, and China wanted to add in Vietnam as a global currency change. Indonesian rupiah and Zims also got involved, but it’s still hinged on the Iraqi dinar. In an ideal world, they would have preferred to RV dinar first, and then Vietnam a few leaders later. Then real idiots showed up like Tony and myself. I planned to buy a few million dollar’s worth of dong and lock it in my safe for a few years. So they tracked dong, realized many were buying dong, and so they added dong, zim and rupiah all into one basket. Now all the reforms in Iraq have taken ten years to get done, and now they want to get Iraq RVed so that they can get on with reconstruction.
Caller: Can we honestly expect to go to the bank and exchange dong and dinar on the same day?
Tony: Yes, they are already on the screens.
Caller: A friend of mine had a question about dropping zeroes…
DC: Zimbabwe has been using US dollars for years, because Zimbabwe dollars had serious inflation, like 1000% per year. Now in Iraq, they spent years pulling US dollars off the street, and they intend to pull dollars out much more quickly. Zim is much more risky than Iraq, where they have been building up to this for ten years. Removing zeroes is because there are 100 trillion dollar notes, so they will cut off six or nine zeroes and then multiply by the exchange rate.
Caller: Can we no longer join TNT?
DC: You can talk to the birthday girl; Pam, the birthday girl, is in charge of that.
Tony: We will tweet out the 800 number when we get it and also put it on the new sites: www.tntsuperfantastic.com, or .net, or .info. I can do that before I sign my NDA. DC won’t tell me what’s on my NDA!
DC: I thought I would just be doing this “two week mission” – and it’s 18 months later!
828 caller: Earlier this month you said dignitaries were coming to Iraq for something that didn’t’ happen. Are these the same people who are coming in now?
Tony: I only heard that there were about 40 this time.
DC: They did the RV dance and the birthday boy/girl didn’t show up. Some of the countries are frustrated, and they have sent fewer people this time.
Caller: Did the US administration ask for a delay on this until mid-October?
DC: That is hogwash, according to my friends in the administration. You can imagine that, being married to me, how frustrated my wife is. I get a thousand text messages a day, and so does Tony. In this game, bad news travels faster than good news, and if something blows up, you find out about it quickly. Everything has been slow and quiet this week, without much bad news… and we would have found out if there was a major problem.
Caller: Is it advisable or permissible for my wife and I to set up separate appointments?
DC: It’s one appointment per call. I am exchanging in chunks because I don’t want to carry all my currency around in one lump. If you can give some to your spouse, that’s a good idea. It doesn’t matter if the receipts are all in your name – what’s yours also belongs to your spouse. You can check that on the 800 number call.
410 caller: It’s Purple Friday here in Maryland because we support the Ravens. Happy Birthday, Pam! I haven’t heard you talk about the rupiah lately…
DC: It’s still there on the screens and in the documentation.
Tony: Because we have not talked about it, it’s the one currency that has maintained a stable rate!
Caller: That’s a good thing. When you were saying they delayed this because concerns about the US dollar dropping in value, what changed their minds?
DC: They now feel comfortable the dollar will not drop much, together with the ISIL campaign and stability in Iraq.
Tony: That is a timing thing as well, with third quarter, and also the influences that have changed in Iraq. There are a lot of factors.
Caller: I’ve been educated myself in currencies and their economic history. Could you give us a crash lesson in how to read the numbers on travelex.com, for example?
DC: IN reading the rates, read the figures in relation to what they are charging for that currency. So if an Iraqi comes to us and want dollars, and the rate is $3, then you’ll need a third of a dinar to buy a dollar. The GBP is higher than the dollar, so you will buy two pounds sterling per dinar. Just think about what country you are in and work from there.
Since all sorts of things affect the economy in any given country, we want to get some currencies up off the floor, so we match the currency to the countries assets. Iraq spend hours and hours proving they have the oil reserves, minerals, and all their other assets. It takes a lot to keep a currency stable, so Shabibi spend years showing the CBI can manage their currency. They are saying they are able to maintain their old rate. In other countries, as well, they are showing they have the assets to support their currencies. Other countries like the US have fiat currency that they don’t have the assets to back up – we just print currency – but that will have to change and that’s why it is being gently devalued.
There are many places online to track rates, such as Yahoo Finance and others. Look for the sites that have currency pairs.
Tony: The way to estimate currencies in the future is not by tracking Forex, but by being involved in the country and globally. When you look at Forex, you will see daily fluctuations. If you don’t know what you are doing, you are playing with fire when you try to predict long term currency gains. You have to have guts when you start playing that game because it can change in 30 seconds or less and you can lose it all!
DC: If you are looking for another dinar or dong after this, that is not going to happen for a very long time, probably not in our lifetimes. There are many other ways to make an ROI of 1,000, I’ve done it several times, but not as a major RV.
Tony: Iraq is planning to revalue 2% every six months, but they also have plans for Zimbabwe and Africa in general. There are many safer ways to get a decent return on your money.
Caller: I have an LLC that is not in good standing. Is there any incentive for me to get that back in good standing and have that do the exchange?
DC: Yes, there is a lot of good incentive to do that BEFORE the RV. You will still control the assets but you can write off business expenses. Do it TODAY.
404 caller: On a prior call, you said the okay have been given to activate, so it was in the CBI’s hands. Does that run the risk of expiring and then we have to start over?
Tony: It’s been given the okay and also encouragement to get this done. They don’t have much to redo, so there isn’t much left to restart.
Caller: Given this is the GCR, would it have been a problem if the Scottish vote had gone the other way?
DC: For Iraq and the dinar, no. However the pound sterling is usually very stable and that would have been an issue. That would have caused England to NOT have a lot of patience with any further delays.
Caller: If the dinar community is being viewed by some as ‘toothless crackheads with too much money’, what part of society is saying that?
DC: I’m not going to answer the question directly. One thing we continue to fight (and why we are here) is questions about what we will do for society. Some politicians seem to think that we will spend it all on stuff that goes up the nose. “Toothless crackheads” don’t spend hours every week educating themselves and helping their fellow dinarians. Sure, a few people will do stupid things, but I think we have proven to a number of folks that we are asking the right questions. We have refuted a lot of those comments. In fact, I thought it was hilarious, although rather elitist. People stopped calling us that once we called them on it.
Tony: Here’s the thing – it’s that is what you think, why don’t you help them? Why not educate them rather than allowing them to flounder and be in the 90% they projected? What they could have done is send us a couple of DCs instead of one to watch over us! They could have done it sooner! There are many things they could have done to make this smoother, too.
Caller: I look forward to meeting you guys in person, even if you are in a mask, DC!
Tony: All you have to do is ask me in Atlanta or Vegas, and I’ll point them out!
DC: We didn’t’ mention upfront because we never know what to mention, but it IS Pam’s birthday on Saturday AND Sunday. We won’t mention age but she is just more wonderful to be around.
We are waiting on preset times. Everything is planned again and ready to go. There is a lot of pressure both inside and outside to get this done correctly and quickly. All the people we talk to are confident bout this getting done, and we thank you for what you have done. Everyone taking part, please write down your parts for the record. Have a great weekend and a great life.
Pam: Thank you everyone for the Birthday wishes on the forum, I do read them every one. For those who are not in our forum – I wish you could all be there. I do have a twitter: Follow https://twitter.com/AlreadyBBlessed.
Ray: Continue to enjoy your Fabulous Friday – and Tony, my resignation’s on the way.
Tony: since we can’t mention Pam’s age, you know it was back before record-keeping. Happy Birthday to Pam! It looks great, everything is in place. You must understand that it is a four-day process of activation, and we will be among the first ones. Even thought I didn’t form a group, they have TNT listed as an educational group. As far as the four-day process, you are included in that process. There are always advantages in freedom of choice. I’m looking forward to a good weekend. I don’t mind doing an extra call. Iraq has already announced that they will get the new rate retroactive back to 1. January, so they will have a lot of money to spend after that. It doesn’t make sense for them to wait until that day. Iraq will actually do that before they put the monthly pay on the cards. But I think they will do it sooner to get money flowing through the banks and the economy. Have a great weekend, everybody!