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Monday, March 23, 2015
Conference Call from TNT Tony - Notes by Adept1 3-23-15
(Notes by Adept1):
Replay 805.399.1500, PIN CODE 409029#
Tony: Good morning, TNT! Today is Monday, March 23, 2015. Today is another Friday, and we shouldn’t be here. However, we are closer, there is more positive information, with things happening.
They called me to pay the bill this morning, and I didn’t. I hope all that we talked about on Friday and today will happen. If not, we may not be here.
Ray: We had a member on OM drop some rates and dates, we don’t know from what source, and someone heard that and put it out on chat, and then people thought I said it. Sunny sent that rumor over to Recaps, not understanding that it was not from me.
Tony: I have never heard anything about ‘super-contract rates’. Someone was saying ‘international rates, contract rates, super-contract rates’, but I haven’t heard that from any of my sources.
DC: Thanks for clearing that up, Ray; I know we often get misquoted. It’s been sensitive for the last ten days, and it’s super-sensitive today. Do NOT say anything negative about banks, governments or anything else. I will cut you off.
Bottom line, it’s phenomenally good. There has been some drama, and everyone is on the highest of high alerts because this is getting done. Iraq continues prep work, and it’s been public in the mosques. They have said there will be re-instatement or revaluation of their currency in the next day or two, and some have said Tuesday in the mosques. There have been announcements from the finance ministry and Dr. Abadi’s office that private sector will be activated on Tuesday. The rest of the cards were supposed to be activated for the general public at $3.91 by today; that has not happened. They have some explanations for that and say it will happen any day, any time. They are kicking butt with ISIL, and talking more about Iraq being unified in the newspapers and everywhere else, and how well they are being prepared for the growing economic situation in Iraq. More training has gone on in banks, including things they have learned in Basra. They have paid more people in Baghdad, but that has slowed for the moment, leading to frustration there. The firm recommendation from those talking to Abadi and Shabibi is that there is critical mass of frustration in Iraq, and they need to get this done.
Tony: On Saturday there was an article saying Dr. Abadi will activate the private sector on Tuesday. On Sunday, there were announcements in the mosques explaining how their cards would operate in Iraq and overseas. ON Thursday, there were letters saying their cards would be activated at $3.91 on Monday, and that didn’t happen so far today. People we talked to today in Iraq said they are expecting this any moment, and on television they showed the celebrations all weekend. They also said that tomorrow they will briefed on new rates of Iraq to dollars. That is all public knowledge for people over there, and no one said I couldn’t say that part! We are in a good place so far as Iraq is concerned.
DC: In the USA, it’s the same. All the banks have prepped and educated their statf. A few excahnges have happened to make sure the system is working okay. All tests have all gone well, and some key bankers are in lock-down. All the technical tests have been redone and they were successful. The rates are the same as we talked about last week. Some senior bankers have been called in yesterday or early today. The most sensitive stuff is on strict lockdown, and everything else is lined up. Everyone is supportive and waiting for the big show.
Tony: So senior people are sequestered, and everyone else is being called in including security. Everyone is excited and on their toes because they are anticipating this happening today, tomorrow… this is right now, and the information can change in an hour. It changed five times yesterday! But we are ready to go right now.
There is a guy who sends me emails every day about how we’re pumping people up and then getting ready for the weekend. That is not OUR plan, to give you information and string you along. So far we are working our way around that. There is a purpose, to keep people on their toes and guessing so they don’t know the exact time so they cannot mess it up. We are telling you what we see in the system, like memos printed up and ready to go. We have more sense than to tell you things for the sake of getting you excited that we know are not going to happen. We wouldn’t do that. But everything is good. We’re super-fantastic, in the best position we could be in apart from standing in the bank itself. Today we are NOT being critical at all. We will cut you off if callers are critical.
303 caller: I think it’s time to have a bit of a revival meeting. I place you guys in the highest respect and esteem, and wonder how you can change our thought process to understand this is a longer-term process than it being super-imminent. How do you let people know that ISIL has to be dealt with and relationships worked out with Kurdistan and such. Those are longer-term processes, not markers of imminent exchange.
DC: Everyone has been held at this incredibly high stage of anticipation for the last 23-24 days. They didn’t want to keep everyone at this high level at all. We continue to get supportive information that this is actually going on. In terms of other Iraqi laws, I know there are some people who want more governmental, national security laws and issues to be dealt with. I understand their logic, but many of our sources that although that would all be nice to have, the people bringing them up are being promptly overruled by those who want and need the RV to go first. The only question is this: Is Iraq mature enough to handle this amount of money? Abadi, Shabibi, and all the countries besides Iraq are all saying “we are in a good enough state, and we need to move on this.” I am watching their actions rather than their words. Politicians will always say “I want this bridge, that action, in order to support your motion”. The actions taken by the CBI, the Council of Ministers, the Federation, Abadi’s office and Shabibi, the IMF, the UST, and all the national banks… they are doing what they are doing because they anticipate another few months of working out another National Guard law. We would not be seeing exchange rates at the screen son the local branch level if this were not imminent. It may not happen by Tuesday, but they are lined up to get this going. Yes, we are all frustrated, but it is happening now or very, very soon. When someone brought up April, I said “I hope not” meaning that I believe they are doing it NOW, and that we will not have to wait until April. Something could come up, yes – it should have happened this weekend. But they didn’t send everyone home, they just pushed it back 24-36 hours. Everyone is still in place.
269 caller: That sounds like good news, and I trust you guys 1000%. Anything new on exchange procedures?
DC: Not a thing that I’ve heard.
Tony: That is one thing we did leave out this morning: even the Iraqi Parliament is telling Shabibi and Abadi that, “it is time to pay the people”. They had a meeting about that this morning.
559 caller: I’m great and it’s a blessed day for everybody. I’ve been in this for over ten years, we’ve been listening for a while, and I want to say thank you because we are getting down to the wire. [Appreciation] If everyone listening would only donate a dollar, you would have more than enough with some left over for the events. Are you we still going to have all four currencies in one basket? Or spread out?
DC: We understand it is all in one basket; that is what they are showing on the screen and what they have prepped for, for the four/five currencies we are talking about.
Caller: Great! I hope this is the last call of this kind! You will send out a tweet, right?
Tony: We will send out at least one tweet and have at least one call. You have to be notified. I was told that at least one more bank will have their own number, and that all the banks will be competitive.
404 caller: Are the Iraqis still being paid at different rates? How much longer can they support that inequity?
DC: yes, they are still at different rates. Basra and some other provinces have been paid at the new rate; some have been promised they will be paid today, and some have not been paid at all. This is an action they are in the middle of and have been for a while. It’s an absolute mess that they have to fix quickly.
Tony: In Parliament today, they were saying, “You have to pay everyone like you did in Kurdistan.” Our guys in Baghdad are saying they have not been paid but expect to be paid any minute.
Caller: You’ve said that when the general Iraqi citizens get paid, we will be able to exchange as well. Will there be a time lag?
DC: It should be within minutes. We don’t know if there will be a major speech by Abadi or something more discreet. When he announces it, the banks will already have been switched on, at least in most of the world. In the US, there will not be a huge announcement in the media; Tony will send out a tweet and the 800 numbers. The latest I’ve heard is that Abadi will make the announcement, with Shabibi.
Caller: I notice Dr Abadi had a meeting with the CBI today. Tony, your tweet said that there WAS a calm before the storm. Are we now in the storm, then?
Tony: I anticipate a category 5 storm at any minute.
DC: They are supposed to formally seat Shabibi again as Governor of the CBI. Another scenario is that this gets announced, Shabiibi announces his retirement and his successor steps in.
Caller: Will we ever find out what made yesterday so horrible?
DC: I think it will come out in history, and that is why I would like a museum, so that we can hear from all sizes. I hope there will be a blow-by-blow exhibition of how it’s going and being pulled back, up and down, and such a mess. Those of us who have been in combat know it’s very similar to that. Getting a straight answer is darn near impossible. We don’t give you all this to brutalize or criticize anyone, but to let you know how many different players are involved in such a global event. Thanks for the museum plug; I am prepared to grovel for that.
Tony: You are lucky you were not on yesterday’s ride!
650 caller: Last week we saw a monumental move in the ISX, with a mix of up and down. What is your perspective on that? It’s continuing on that high level. Have they removed the zeroes there? If it’s too sensitive, don’t answer.
DC: We will dance on that one. The rates have not changed. As soon as the CBI changes the rate, that will sync with the ISX and update the rate/price of all the stocks. That will happen live as the rate updates around the world. The information leakage of what is going on has financial professionals beginning to believe this is real. Thus, the buying by financial professionals who cannot buy currency but who can invest in foreign markets, that is attracting a lot of interest in Iraqi stocks. So that is showing up on the ISX, because that is an easy way to play this situation well.
Caller: I have a comment. I hope to start a foundation focused on increasing the amount of money spent locally, that people can change their local financial situation. In general, it’s a good idea for businesses to trade as much as possible, but it’s better for that to be spent locally rather than at (say) Walmart. There need to be studies to show how much of a difference it makes to spend money on local businesses.
DC: As a small business guy, I love that idea.
707 caller: I’m the one who nominated you guys for the Nobel Peace Prize. I think Shabibi to be nominated as well, but I’m not qualified to set that up. I have some concerns about exchanging with my local community bank, that they might lack the training required. Also, will that smaller bank have the transaction codes on their screens? Could you explain a bit more about that?
DC: It was a tier 3 bank you were looking at, right? With ten banks in a county, for example? Sizable community banks do have access to the old Bank of Ireland system, which Wells Fargo bought a few years ago. It has a secure website, and many banks use that system to order foreign currency. They pull up that system, order currency, and that currency arrives within a day or so. Many tier 2 and tier 3 banks have access to that system. In the last 2-3 years, many banks have sent in trainees to learn how to use that system, usually senior tellers. During that update training, these senior tellers have signed NDAs and done updates or classes for the Iraqi dinar, and they have trained how to deal with the upcoming RV. Often their managers don’t even know, they just let the trained tellers get on with it. So they do have people trained throughout the entire system, in both tier 2 and tier 3 banks. When they have completed that training, and when the RV is announced, the trained tellers will have the access codes.
Caller; I have a small group of people invested in this, and this bank stands to double their deposits through this group alone. That’s what I’m talking to their wealth manager about. I respect this bank.
DC: A lot of small banks will be overwhelmed by this. A lot of them will bypass the bank itself and send the money directly to investment companies. A lot of bankers will have a heart attack if you want to have a checking account with ten million dollars in it. They will have a way of dealing it through CDARS or banking associations. They cannot get their ratios too far out of whack. Even their pools will get overwhelmed, so you need to be mentally prepared for what you want to do.
518 caller: [Appreciation] I hope to help the local businesses, military groups, local food banks, and some local folks who need help. We have grandchildren with college loans that we want to pay off. I’ve aged ten years in the last 12 months, and I’m so glad to hear Tony say he’s super-fantastic! It can’t happen soon enough!
703 caller: I’m super-fantastic, too. I’m over the moon! The way I look at it you are news reporters who cannot disclose your sources. I have learned so much! Do you know how quickly after this happens you’ll be able to let us know? How quickly will you get the package?
DC: We are supposed to be notified within a few minutes after it goes down. At that time, given NDAs and such, it could take a couple of paths. If NDAs are not in place, Tony will verify the news, then send out a tweet and then have a call with details. If we have to sign NDAs first, we’ll have to play it by ear.
Tony: What he said. DC is answering for me so that I don’t mess it up today. He got chastised for something I said, so I don’t want to get him in trouble.
DC: With NDAs, we expect to get it done any time from 30 minutes to ten hours.
Tony: We will probably get the notification from overseas first. No one has told us NOT to let you know. We’re not getting enough information ourselves to tell you right now. We are trying to do the right thing, but if there is nothing for us to do, we will just do what seems the best thing at the time.
DC: Some folks say we are just part of the process; we want to help everyone out with this, and keep updating everyone out there. So if they don’t’ tell us otherwise, we will continue to be the morons we have been up to now.
Pam: Morons? Speak for yourself! And only one last caller, as we have a new transcriber.
423 caller: I have a request for the US officials: right now there are open lines of communication through you guys, so please keep them open as long as possible. [Appreciation] I love DC’s funny stories about his brother.
Tony: They are from Texas!
Caller: Are there are any bad stories? Something we can help people with?
DC: There have been a lot of bad stories from the banks, saying this is a scam, and people have to leave. We understand that, and would probably do the same if we were running banks. You can’t tell everyone and give them proof/evidence or they would walk out the next day.
Tony: There have been times and places where transactions went through but then their accounts were frozen until this goes live. A lot of people would be happy with that right now, but a lot of others would be driving the banks crazy asking every day if they can finally get at their money!
The category five storm that I was referring to would be all of you going to the bank, spending your money and enhancing the economy. That would be a good thing! I hope we get to do multiple calls – that would be my choice, to help walk you all through this process. However, once we sign an NDA, we are helping them more than you, if there is a rate change, a glitch, or any other problem. We would truly be working more for their side in terms of the process. They don’t want us telling you where to go, which bank has a better rate, and such. It would be confusing and controlling, and they don’t’ want that. It this point, they would prefer for me to announce it and you would call their 800 numbers for information, which they would then control. We get our intel from other places, and then I get to decide whether to tweet it out and then everyone goes crazy, or maybe they will be sensible and give us a heads up and advance information so that we could ask questions that we know you will have. We would rather have a bank person on the call to answer your questions and walk you through the process, but we understand there are legal issues with that. We have three out of the four biggest banks where we can get immediate information, and a load of the smaller banks. This is the first day I’ve heard DC waffle about signing the NDA, but we know that once we sign that NDA it’s a whole different ball game. Our NDAs are 34 pages, your NDAs will be 3-4 pages. We still hope to have the four events, and educate you and have a party afterwards.
DC: This can happen at any moment. Everyone is ready. It’s absolutely Shabibi’s decision and we are waiting on that. That last caller reminds me of a story: right after college I was a business consultant and traveling a ton. I was going to NY and had to connect at Nashville. I saw the scruffiest guy with a Piggly-Wiggly shopping bag sauntering down the hallway and I had a few mental criticisms of Tennessee, and then I realized it was my brother. He was in the Navy, he was coming back from a Jimmy Buffett concert, and he looked like he’d been there for months. That is how the banks will look at you, so make sure to handle yourself like a professional… and remember the guy who looks like a bum could be your brother.
Pam: I will take my Piggly-Wiggly bag with me, but leave it in the car. I have thanked the TNT and members; I want to thank my family and friends who have cut me a lot of slack on this. I especially want to thank my dad, because he’s been on this ride with me, and my siblings… unlike the family members who think I’m nuts and my son who staged an intervention. Thank you Tony and DC, especially – I love you guys!
Ray: Enjoy what is yet to come as we get ready for the next ride.
Tony: I was talking with the team about the next currencies, the next basket, and I don’t’ want to do this for another ten years! I had a call from a guy this morning who wouldn’t let him see the screens and told him this wouldn’t happen. We talked to someone else in the same city, and were told the rates, the task force they were putting together and all the other details. Some banks just don’t know, and they didn’t get the memo yet. The first day or two there is going to be mass confusion. I hope we will be there to help you, but they are going to be confused so you will have to be patient. If you want that higher rate, if you want them to be the best they can be for you, you have to be the best for them. Have some sympathy and be on their side if you want them to be on your side. There will be other opportunities. They do work for the bank, so be aware of that. It doesn’t have to be a war.
Everyone in Iraq and in the US is saying “go, go, go”. We’ve heard things are supposed to happen on Tuesday, and it might be, or it might be Wednesday or Thursday. They said the Qi cards would be activated today, and they weren’t. But we are just that close, so know what you will do when it does happen. When the storm hits, there will be chaos; make your plans and decisions now so that you can stay calm when the storm is there. I would love send out a tweet today, and to make this as smooth as possible. Hopefully they will give us directions, but if not, we will make it up as it happens. Meanwhile, enjoy your day!
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Except for the presence of DC, that call could have been yesterdays. Same hype, same lies .....
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