Replay 805.399.1500, PIN CODE 409029#
Tony: Good morning, TNT! Today is Wednesday, December 3, 2014. Here we go again. Pam has declared this One-question Wednesday with new callers only! If someone has called before, they will get kicked off.
We have some good news coming up. There was controversy in the last call because DC wasn’t here. Some liked that, some didn’t; some thought it was a depressing call. Reality is not always happy, but we understand it, grow with it and go on. I was listening to the President this morning, telling us what is happening for the next two years. We are about to be some of the richest people in this country, and it makes a difference to what you will spend in the next two years, including whether you will be able to keep that money. I don’t understand when people don’t want to read the news and listen to the articles. We should be doing that more than anyone else! We should be reading the books and articles, and understanding the industries, because that is how we influence things and leave the toothless crackhead in the rearview mirror.
I’m looking out my window and I see two bright, vivid rainbows – amazing.
DC: I’m glad to be back, had a little vacation with my son. Iraq has done some great things in the last week. Yesterday they announced the formal agreement to the HCL in Kurdistan and in Baghdad. That certifies the 17% is going to Kurdistan plus a few other things they changed around. That was a big thing for Iraq to do. They are adjusting their budget based on the fall in oil prices, and that was not a surprise. There have been some good wins against ISIL, getting inside their decision cycle. They are having a NATO meeting about ISIL right now with Kerry and other leaders, discussing funding and strategy. On the television side, they have announced the economic reform is in place, but also there are riots because it has not been completed yet. They are saying it’s nearly over with. Abadi gave a great speech about Iraq joining international markets on Monday night. They are still prepared for parties and celebrations with areas blocked off and PA systems ready for the final deal. One reason the riots occurred is they thought the RV would happen immediately after Abadi’s speech, and they were disappointed.
Tony: So, Sunday and Monday they were having pre-celebrations, with everyone excited about the announcements to be made. Abadi made the first part of the announcement, but CBI didn’t do their part, and everyone was upset. So they have rescheduled the celebrations for…
DC: I’m not sure we should say that. Still, they’ve scheduled them for tomorrow afternoon through the weekend.
Tony: The weekend again, eh? They are upset in Baghdad, but partying in Kurdistan this morning. Somewhere between today and Monday there are a million people coming together and it will be bad if they don’t’ get what they want.
DC: They continue to prepare for celebrations because yesterday in the US they realized they need to move forward.
Tony: All that happened over here is they said, “We heard you but we weren’t listening to you; now we get it.” So this time is different.
DC: We have to the one inch line to score. You get sent back to the 50 yard line sometimes, but you have to get back to that 1” line to score, and all those things have to occur again to score – such as the CBI, banks, call centers, etc. Those how have been bl0cking this have been told that we didn’t understand the riots (duh) and they have to let this go. Some have said that PM Abadi is out of the country and they won’t do it whilst he is out of the country. One, that’s only five hours flight. Two, if I were worried about the US throwing me over, and I were sitting across the table from a bunch of world leaders, and they say they are not going to block it this time, I would pull the darn trigger here and watch everyone’s eyes. If they twitch, I’d call them out here, in public. If they are saying they are serious, I’d pull the trigger and look them in the eye while I do it. All the celebrations and announcements will be in the past, so I’d pull the trigger and then get on a flight.
The UN are aggravated as hell that the US continues to throw up BS flags all the time. They are applying pressure on the US to allow this to go through. The BIS+IMF are still trying to coordinate timing and keep the egos in check. The UST and administration guys are being told GO from the highest levels, as of yesterday. Now everyone is getting prepped up and going into lockdowns. They are loading the systems back up as well. The banks are continuing to pay people out at various rates. Our understanding is that it almost halted over the holiday weekend, but cranked back up on Monday and Tuesday. The banks are ready to take this forward now. The security and call centers are prepped and ready to rock. The ones who are reluctant are still not willing to take the general public; they only want their select clientele, and the lead bank can handle everyone else. That will also slow down the whole process for Dinarland because there are fewer banks willing to take us. Law enforcement is cued up and watching for bad guys.
Tony: We heard that some people are going through background checks and getting 10-20% for the first 72 hours.
DC: Yesterday, we double-checked with all these people going through. Some are worried about how much is left of the contract pool. We’re not getting exact amounts or percentages, but we are being told the general public will get some crack at the contract rates, as of this morning. However, the vast majority will get the international rates. The latter will find the whole thing very simple; only contract rates will require NDAs.
Tony: That’s about it. It could be today, tomorrow or Sunday night. There is a go, go, go now. Iraq will decide when we go exactly – this time they say they have totally released it to Iraq, for their timing.
816 caller: The other day, you had said that there were people going in to exchange, and the banks asked what they were doing with their money, and if the bank didn’t like their answer, they wouldn’t get as much money. Is that true? I’m a bit concerned.
Tony: This is what I’ve got from those who have already exchanged, and received the contract rate. They asked them what they planned to do with the funds. Then they decided if the person would get the contract rate or not. The bank might say that they wanted the person to keep 50% in the bank for a year. I don’t plan to spend 50% in the first year anyway, so long as I get some interest on it and it’s somewhere safe. If you get the rate and your wealth manager asks what you are going to do with it, the WM might be willing to offer you more (as a contract rate) if you are doing something great or if you are willing to leave something substantial in their bank. If you don’t’ have a plan, or if you are just going to spend it on houses and cars, then they might not want you as a client. They are looking for people who want to invest their money, as long-term investors.
Caller: I don’t intend to spend all my money. I need to invest my money for income.
Tony: I don’t want you to be blindsided. We should have been thinking about that for the last 2-3 years, and definitely need to think about it now!
610 caller: [Appreciation] I hope PM Abadi does as you suggest, DC, because this group in the US and NATO needs to think about the people of Iraq. Is there anything we can do, as a group, to help this go through?
DC: There is nothing we can do apart from letting the PM speak for his people. All we can do is keep the light shining on all this. The go-ahead yesterday from the place it came was a sincere go-ahead; how long that will last, we don’t’ know. They are acting like it’s real this time, to I pray to God it is.
Tony: It’s not that they said GO, it’s that the window is too wide. That’s the only reason you hear skepticism in our voices.
520 caller: [Appreciation] My mom is 87, and she is going in to do all this – I gave her currency and gifting letters, and she has a better relationship with the bank. Our situation has been so dire for the last few years. We know this IS going to happen, though.
Tony: I’m glad you are making it through the five years – it’s not easy.
Caller: It’s all on good will built up over these years – friends and relatives.
843 caller: Can you go over the tax situation again, please? I’m hearing more of a flat tax for those who take the international rate.
DC: The tax discussions are all over the map, and it has not been resolved. Be prepared for the highest taxes for the moment. The latest is that the international rate will not have any taxes, and the contract rate MIGHT have 30% flat tax. I can’t get around the idea of no tax on the international rate, as I’ve always had to pay taxes, but that is the latest from the banks and UST.
Caller: Can you tell us the latest rate on the VNN?
DC: They are currently expecting $1.02.
919 caller: I’ve been involved in this for over ten years. Those who have been here for 2-3 years, I feel your pain, but hang in there. I have seven people I’ve gotten into this; should I be allowed to go in with each one of them.
DC: Unless they are physically, emotionally or mentally not capable of executing a contract, they will have to exchange on their own. It should be simple and precise, just lining you up and spitting you out. Once you meet with your wealth manager and discuss what to do with this money, then you can help all seven of those people. I have 41 folks that I need to notify, and almost all of them don’t understand about the currency – they have just put it in their sock drawer for later. I’ll send them an email with instructions.
DC: You need to be talking to your groups today, tomorrow, right up to the moment this happens. Make sure they have a plan. Once you go to your appointment and you sign an NDA, this is over. They will be on their own anyway. If you plan to educate them on the dinar, do it now. Otherwise, they will have to just take whatever rate is offered. I do this call three times a week; I won’t be able to review it with each of them.
954 caller: I have been reading some documentation on the new boss at the Fed, Janet Yellen. Is that agency the one holding this up? I’m thinking it might be…
DC: It’s my belief that because the Fed is a semi-independent body, it’s my opinion that they will follow the rules to the absolute letter because they don’t’ want to get into trouble with either party. They will do exactly what international law demands. The UST is an arm of the executive, and they have been involved in some of the delays.
Caller: I’m thinking the Fed wouldn’t want this to happen right now. I thought the government appointed Yellen to take over the Fed – is that the case?
DC: Yes, that is how the Fed works, that the boss is appointed by the President and confirmed by the Senate. There are those who do not like the Fed, like the politicians, and they’re watched like a hawk as they determine interest rates, etc. They try desperately to stay out of politics. Ben Bernanke says in almost every speech that they don’t want to do certain things but they have been forced to because the legislature has not be proactive in sorting out the economy.
Caller: [More of the same]
DC: The Fed has been painfully neutral on what to do on this. They don’t want to get involved in politics because that always ends up badly. However, as a person with money, you should keep an eye what the Fed is doing. For example, their quantitative easing (QE) has put more money out into mortgages and loans, and that has kept interest rates low. They think they will keep those rates down for another year or two until they think of increasing them. It’s important to understand their line of thinking.
678 caller: [Appreciation] I have learned a lot from your calls, and watched the suggested movies and read the books, and I might end up an economic hit-woman! This has been a long-time vision being fulfilled because I want to help veterans with PTSD, I’m a mental health professional with a non-profit. I want to expand my non-profit to help youth and adult education; we want to take it to another level so that our graduates can go to college. This will allow us to provide scholarships. I also want to fund my grand-children’s education as well, to leave a legacy. It is interesting that some suggest we don’t’ have the insight to use these monies well. The average person will not get into this type of investment, and most of us are going to make some massive changes. I think that is part of the holdup, that there will be a changing of the guard. I’ve been a human services person for years, and for me these funds will provide a vehicle for expansion and empowerment in our area. So for those who think we don’t have a clue – well, we do.
Tony: Knowledge is power. If you are willing to share the knowledge and build up a power base, that is where change starts… from the bottom up. We’ll have new options to change the way we live and society as a whole.
Caller: I believe that you reap what you sow, and it’s time for God to open up the windows of heaven, for those blessings to come down, and for me to be an agent of the change that blesses other people. There are people who others say will never make it, and I used to be one of them, but I’m a firm believer that those of us who are blessed need to bless other people and make this a better place for everyone to live in. We need to learn how to care about our neighbor as much as ourselves.
405 caller: DC, there is a fly rod made by someone called Winston – do you have anything to do with that? How has the dollar increased in value to quickly without our debt falling? How will the fall in oil prices have an impact on the oil credits we currently own?
DC: I do intend to buy one of those Winston fly-rods first things. As for the price of the dollar, we are the best looking house on a bad block. Germany and Asia are not doing all that well, India is not picking up as quickly as they’d like, and the ruble is going to crap in a hand-basket. That’s why the dollar looks good at the moment. The lower oil prices provide a boost to economic growth, but the countries that rely on oil are having to adjust – like Iraq. This RV will still be a wave, but not so big as to cause too much chaos here. When we look at the independent countries (gas-wise) they believe there will be a massive economic stimulus into the system with the rise of gas because the rise in the economy naturally leads to new cars and new construction. Many think the oil prices will take a dip and then bring it up to 90-100 dollar range within 6-12 months. Those countries then will have more money to spend on social programs. At the moment, this is causing pain in Russia, Iran and Iraq, but not the Saudis. The US dollar will drop a little bit, maybe 0.5%, but then the US economy will pick up maybe 5% GDP, which will strengthen the dollar a lot. So this will be up and down for a little down, along with the oil prices, but both will rise with the natural stimulus of the RV.
Tony: Gas will go form $2.90 up to $4.50 over a year, and everyone with complain. But it will drop down from $4.50 to $3.50 and everyone is happy. That’s what they do over a period of time, and people adjust to it. DC is right, though. I’m ready to get in a fight, and I’m a world-class fight, and I’m going to make history. I’m inviting five opponents in the ring at the same time. While I am working out and building up, I am making them as weak as I can – taking their food, water, power, letting them slip on banana peels, etc. I know I’m going to take some body blows, but how strong are my opponents when this fight comes to fruition? When the President said this morning that the emerging markets are not as fast as they might be, there are reasons for that. There is (and will be) a change in economic growth but not as strongly as anticipated because they are weakening the perceived opponents.
DC: Most of the delays have been straight power politics. However, they put the shine on of “you need to get this one more thing done”; but really they have been political.
254 caller: About the Admiral’s group, can you tell us what to expect there? Are they considered dinarians, exchanging the same time we are?
DC: I know part of those groups have not yet exchanged, and we understand they will be exchanging early because they are already organized. The paperwork is done, they are conditioned, and they can be paid easily and quickly. Will they be the only ones going through? No, the rest of us will be going through as well.
661 caller: Regarding the ‘window’, you said it was a little too wide… do you mean days or weeks?
DC: They were given days to do it, and we both said, “Oh, man!” Let’s get it in the next 30 minutes, because shenanigans have occurred when they are allowed too much time.
Caller: Do you believe it will happen in this last window?
DC: Many believe it is the final window, including Iraq, but all of us are cautious because someone might mess with it again, with all this up and down. We’ve been to the 1” line before, and that is where we are right now.
Tony: Some banks have scheduled appointments for Friday; others are having final conferences, or calling their people in right away. People in Iraq are saying this is done or nearly done, and some are already celebrating even while others are rioting in the streets because it’s not over. We should feel good, yes, but we’ve been here before. I know I said “way too much time” but we’re still only taking about a couple of days.
407 caller: We got everyone lathered up the week of the elections, looking for this within 48 hours. Since then, it’s been nothing but spiteful, pathetic politics that delayed this. Is that an accurate statement?
Tony: No. The other scenario DC gave you is a real possibility, and there are other issues that don’t even involve us. Yes, there are is some petty politics.
DC: On Thursday October 30th, there was enough progress to do exchanges around the world. The US and everyone accepted this is going down. The reasons for it NOT to go through for the general public in Iraq and US have been political timing and hopes that the wind would blow a certain way, plus a few people nickel-and-diming Iraq for personal reasons. We hope that cooler heads will prevail at last.
Caller: You might want to keep One-question Wednesday and institute Donation Friday, where only people who have donated can ask a question!
951 caller: What is your position on the tax rates. I have heard 30%, 10%, and 0% taxes, depending on the contract, market and international rates.
DC: We have heard that as well, but it’s not written in stone, so be prepared for the maximum tax rates on income, because tax regulations have a way of changing.
Caller: I live in California, and I’m sure Sacramento will want to take a chunk. Also, what is the maximum you can give an individual without tax consequences?
DC: I believe the annual amount is $14,000 per individual; if you want to do more, look into trusts, foundations, or a clever tax attorney.
970 caller: This is about my decision whether to go for contract or international rates, and the NDA. My children and their fiancés know about this; should I have them sign NDAs as well?
DC: I don’t know. You are doing right by thinking this through beforehand, because they are dead serious about the trouble if you break or transgress the NDA. My personal preference is to give them notes, and let them exchange and be responsible for their own NDAs.
Caller: They were not responsive to that offer. If their fiancé talks, does that come back on me, if I have signed the NDA and they have not?
DC: There are 16 different versions of the NDA. If my wife or sibling starts taking, I’m told they will come back on me. If it’s a minor slipup, that is less likely. Those who take international rate won’t have a problem, but if someone says exactly what your contract rate was, then that is creating a problem.
Tony: Your kid’s fiancé might know you have currency, but if s/he says “she got X as a rate and is investing it in Y and Z”, that would create a problem. I wouldn’t tell them you even went into to exchange until after the wedding ceremony! You cannot take the knowledge out of their heads afterwards. It’s the details that cause the problem.
Caller: You mentioned there is a question now about the reserves… that there might be a conflict with the exchangers?
Tony: I don’t know what the reserve plan is. One bank is exchanging all four currencies now, and another is not dealing with reserves. We just don’t know if you can use those new funds to release your reserves. There may also be limits of 50 million dinar, so have a plan. Your dealer will always allow you to pay for your reserves, so find a way to do it.
626 caller: The other day you mentioned the zim being “six to nine” – what is that?
Tony: You mean six to nine zeros being removed. The last time I talked to you all about the zim, the price doubled after the call, and we don’t want that to happen again.
Caller: Is it still possible to exchange one note before your appointment?
Tony: I don’t know. Now that some banks don’t want to accept everyone...
DC: This changes constantly. Because only one of the major banks will accept dinar and the rest are picking who they want to do business with, you’ll have to wait in line to do your exchanges – they won’t let you do that 25K dinar note prior. The main bank has gone from ¼ of the load to the whole load, so they want to streamline this process.
509 caller: [Appreciation] I’m concerned about giving ammunition to those against this RV by having these calls, giving them advance notice of the restrictions and limits, etc. We say something and they come up with a way to block it. This bothers me. A POW doesn’t tell his captor his weaknesses and that is what we’ve been doing.
Tony: I started this four years ago, when we were nowhere near the level of resources we have now. The call was not about them, it was about you, how to plan or work around possible issues. We realized with the new rules that they were actually listening to the calls. They are now saying “We have to fix this or that” because we talked about it. So I still give certain scenarios of what I would do… and I think it is part of why they don’t want us to do the calls, because I would do certain things differently… but we also have a certain insight into what they are doing as well. That’s why I say sometimes to look things up, or ask people in the forum, or replay the calls, or whatever.
Caller: It’s tricky because you don’t want to talk the wrong way because it inhibits our process. Also, I’m not seeing the full transcripts on DinarDetectives like I used to…
Tony: DD is not our site. Here on our site, we have the recorded calls and the transcripts in the forum. I don’t know what they post on other sites. We used to have someone who paraphrases and puts up her notes after every call, and another one who transcribes verbatim and posts in the forum.
Caller: I get it. I just didn’t’ understand what had changed on the other site.
Tony: I don’t read other sites. I am too busy gathering our information and doing our calls. You can always listen to the replays or read the notes on our site, and frankly I don’t care what happens on the other sites. There are pros and cons as to the info we put on these calls. We are being warned by people at the banks and other sources about certain things that are happening. They are human, and some will be mad and do/say some things that they should not. They cannot control each individual person, so be smart and aware of this.
DC: As for your thoughts on the POW example, I’d like to use a personal example, that is a joke but also true. When I got into the covert stuff, they put you through SERE training, in the express lane. If you are capture, especially the mental guys like me, they give you one bullet. If you cannot end yourself with dignity, they teach you how to be tortured. You don’t let them you know your weaknesses. They put you through the training, and I told them not to touch my teeth or deprive me a sleep, and a couple of days later, they let me sleep. These guys are not our enemies. They were coming to the same conclusions, maybe just taking a little longer. Yes, they might have learned a few things from us, but in general they want to make it as fair as possible. For example, it looks like there will be a cap of 50 million dinars for the contract rate, because someone with 250 million can block out five people. The guys torturing me realized my teeth were an issue, just more slowly than I realized it myself.
Caller: I know there are many who are on our side… and Semper Fi, DC.
612 caller: With the NDA, let’s say a person has three currency and only goes for the contract rate on one of them. Does the NDA cover all three currencies or only the one? Because if someone asks where my money comes from, I’d like to know what I can talk about.
DC: The NDA is broad in scope and will most likely cover all the currencies. They want you to be quiet about the whole thing.
Tony: So can he say “I made my money on the German mark?” So long as they don’t have the details…
DC: You can tell whatever lie you want to, just don’t tell the truth!
417 caller: Will there be exchange banks in Missouri?
DC: Yes, in any town over 100,000, and in most towns over 50,000.
775 caller: [Appreciation] I’m in Nevada, and there is not one Wells Fargo bank that will talk to me or admit that this is genuine.
DC: We’ve had friends exchanging in Reno since 31. October of this year. Not that many people in the banking system know about this, both for security and because all the staff would quit! They have sent out many memos saying they will not deal with this until it is an international currency or whatever. No one is really aware of what is going on. We know there are memos prepared for when this goes public, and that is when they will change that mindset. The reception you have got will not change until the RV occurs in Iraq, because they are only exchanging selected customers.
Tony: There is an exchange city in Reno, I assure you, but they are not taking a lot of people from the area, but flying people in from other areas.
Caller: They are saying it’s a scam, don’t even bother to go to the airport. One WM had a dinar note on his desk, and he seemed to think that was safe.
Tony: They don’t know what is going on, they don’t’ have the links or sources, and they are believing their upper management.
DC: They aren’t lying to you, they just don’t know!
754 caller: For those who just got into this by default, how do you go about setting up your account if you don’t have a trust?
DC: Tony and I are not attorneys. I found the best estate attorney in my area, and had them help me out. I said, “I have this much money” and they helped me put into a trust and other entities to protect that money.
Tony: You need to have some basic knowledge about trust before going in for your exchange. One of our friends did a walkthrough at the bank, and they said they wanted to set that up so they knew it was done correctly. They will arrange all that for you, if you choose, if you don’t have any other option. They want you to put all your eggs in that one basket. It’s best to get more knowledge beforehand, so you can be sure of what you want.
Caller: How are they selecting the ones they call in?
Tony: All we know is that the wealth managers are selecting from existing customers, people who have come in with currency. We just don’t know. I wish I knew how, because if so I’d be sitting across from one of them!
Okie called me yesterday and we were talking, and he asked, “How are all these people going in front of us? How is this list being generated, that we can’t get in and all these other people can?” And the worst thing is, we know some of these people!
540 caller: [Appreciation] I’m a little confused – I’ve just been following since last summer. In the last month or so, it seems like we have gone from ‘first mouse, second mouse’ to a bit more trust in how you are talking about the banks. Is that how you see it, that we will get international rates, and maybe contract rates with the wealth manager?
Tony: There was originally a 30-day period in which we would get this done. There are options: NDA or non-NDA, going in and taking whatever rates they give you to get it done, or holding out for higher market rates. Then they said they wanted to do it in ten days and then cut it off. I don’t want people to lose out because I said it would be greater later. I try to give you all the information so that you can make your own decisions, not be blamed because you think I’m saying not to go in or whatever. I’m trying to give you enough information for you to choose whatever avenue works best for you. Right now, they are talking about getting the internet people through and then shutting it down. Right now, they are trying to get this done in December, so choose one route and get it done.
Caller: I want to do that because they will take you away as our source of information! I’m so glad I found you! Do you foresee that waiting until January might be better because of new tax laws? Or might they do something retroactive?
Tony: They haven’t changed the taxes yet, so I think it will be next year. This is why I keep saying to set aside at least 50% for taxes. I live in California, so I’m setting aside 65% for taxes, and putting the rest to work.
DC: Everyone in Iraq is ready to go, with celebrations planned. We have everything ready to go here in the USA; they are continuing to exchange folks, which is a good sign. WE understand the administration gave their nod again, and I would argue in favor of having everyone in the same room when Abadi pulls the trigger. All announcements are supposed to be made post-RV. We pray to God this is final. As I’ve said 1,000 times, think through what you will do with the money: set aside enough for taxes, set up money to make an income, before you give money away or spend it on big items.
Pam: You know more than you think you know. Things keeps changings, so take your time and think about it – there is no rush. And remember your professionals!
Ray: Continue to enjoy your Wealth-seeking Wednesday.
Tony: This is not a lottery ticket, it’s your legacy. Have a plan for your wealth manager so they can give you the best service. Have your Ten Things ready and be flexible. We don’t have the package yet, and it may change. The window is a day shorter than yesterday when we found out about it. Everyone is in position and celebrations are planned for tomorrow, so let’s see what happens!