Monday's call TNT Tony NOTES

Tony:  Good morning, TNT!  Today is Monday, February 2, 2015, at 1.35pm PST.  It’s my mother’s birthday.  We’re not talking about that, nor about the Super Bowl.  Everyone clear on that?

There’s good news and bad news.  I’ll give out the bad news:  we are not at the bank this moment.  That’s it.  I’ll let DC give you the good news.

DC:  Thanks for bearing with us while we were gathering more info.  Everything else is beautifully lined up, and we are just waiting.  According to all our sources, we are just waiting on punch items and timing strategies.

Iraq:  the banks, finance ministry and banks have spent the last few days going through other minor checklists since passing the budget, just polishing up minor items so this can be perfect. They don’t expect that to take very long.  MPs are getting antsy that this still hasn’t gone through. The budget was published last week, though not necessarily in the gazette – but it should be in the next day or two.  Everything is lined up and they are getting frustrated. This is becoming a real issue for PM Abadi, including some minor riots about this and other issues.  Customs agents are still restricting movements of dinar throughout the country.  On television they are still running “economic reform any time” as they have for the last few weeks.

Tony: Today on Iraqi television, the CBI announced it was done and they would reinstate (RI) on the first of the month.  We saw the same announcement in December.  Over the weekend, the CBI and GOI said they were ready to initiate the currency reforms. Things we do know and can’t talk about include high-level meetings yesterday and today.  Right this minute, we are down to the last couple of times when everything should be completely published and activated. They have specific days and times when they want to do this.  I don’t know if that was part of their original agreement.  What happened on the 31st?  The volatility in the market, is that related to what had been agreed upon?

DC:  A lot of people are saying “Okay, that was supposed to be done – why wasn’t it? And what does the agreement say will happen as a consequence?” The US wasn’t holding it back;  we have supported it this time.  It’s not the US’s fault;  it was about Iraq being ready or not.  The history of these delays has been “strategic deferral” by the Us, and that didn’t happen.  The US said that “we are ready, everyone is in lockdown”;  Iraq is trying to make this perfect. They didn’t have to use the agreement because the US is still supporting it.  This is confusing for most folks, because Iraq was holding this off to meet US wishes, and now when the US is finally ready, Iraq is delaying.  Between Abadi and Shabibi, they understand how serious this is, and are maybe being too perfectionist at this point. They need to get this moving, and senior leaders are making calls about that today.  Everyone is saying, “let’s not give anyone time to rethink this – it has to go”.  In effect, the shoe is on the other foot considering who delayed this for 18 months.

Bankers are ready to go, but keeping the time as quiet as possible.  Nothing will happen until the CBI and PM Abadi both say Go.  Everyone has exchange who could until the general public goes.

Tony: Let’s go back to Iraq for a moment so that everyone understands what is really happening.  The US was holding it back forever because they wanted some major things accomplished first in banking laws and the Government of Iraq.  Finally the US said “You’re close enough;  we need to do this (because of global movements) and fix it later.”  Now Iraq is into the detail as far as their country and its security… which effectively means “How can we pay our people without paying ISIL?”

DC:  I believe they had this plan thought through and executed, but have polishing to do on little tiny items and using that as an excuse.  However, the security side is a good point. What happens when you RI and you have a bunch of terrorists running around Mosul and Anbar?  How do we  NOT make the terrorists even richer than they are.  The government has found and removed a lot of hard currency.  IN terms of banking, they are making the dinar available electronically in stable areas.  In ISIL-controlled areas, they will not revalue.  This is a good military and strategic plan.  “We thought you at ISIL were rich, but now the government side has a lot more money, so why should I fight for you when my family now has lots of good jobs?”  The military wanted this move also because it means people will move around and that gives them more intel to play with.

Tony:  This weekend, they cut off the electronic ration cards, and that made the people come in and identify themselves to get their money.  They won’t send the money to those areas but bring people out of those areas to get the money and ration cards.  That will draw them out and that’s why it didn’t happen this weekend.  They changed the electronic banking system so that they can now choose which branches get the updated rate and which do not.  That also happened over the weekend.  They chose to fix those issues before the RI or RV goes.   Now everyone is ready, just waiting on the CBI to say when. We can all see that makes sense. They put out some articles about the ration cards and not paying them electronically, at least in those areas.  There was something about restocking ATMs in lower denominations, as they have done several times in the past.  The US is NOT geared up, sitting at their computers;  they are NOT on standby  or with extended hours this week.

DC:  This makes sure that the Treasury, the Fed, and the major banks – they have practiced many times and they can gear up within 30-40 minutes.  It might take a couple of hours to notify the whole world anyway.

Tony:  I know you have been hearing about March, April, May and next year, but I don’t see that happening.

DC:  We’re not hearing anything more than minor points, even from those who were most resistant in the past.  At the most, it’s “I’d rather see this Tuesday morning vs. Thursday morning” – that level of discussion.

Tony:  I know everyone wants to ask a question, but I’ve got guys who have been up here for 1,400 minutes.  Everyone cannot do that.  I can see your names, and I know some have been on before.  Just because you CAN do this, and have been on the call before, that doesn’t mean you SHOULD do it. Right now, there are 83 people with their hands up.  Anyone who doesn’t have a really serious question, or would like to be kind to the new people, please put your hand down now.  I’ll give you a minute to do that.

816 caller:  [Appreciation]  You are setting a great example.  In 2014, we talked about a plan for Africa.  Two countries are unique in supporting one currency. Is there an opportunity there?

DC:  Yes.  Most African nations have nowhere to go but up.  Many have assets to jump-start their economic platforms, and that is their absolute intent.  This RV and related GCR is supposed to be the stimulus;  that’s why we talk about Zimbabwe and what they are supposed to do.

Caller:  Tony, so far as bank fees go, surely they will be making money enough through overnights and such, as well as 2% for 30 minutes’ work.

Tony:  They are the bank.  They will get 5% and offer you 0.5% off the same money. That is how banks make money, and you want them to make money so that yours will be safe.  We don’t want to have them abuse us, that’s all.  They will make money anyway they can, including borrowing your money and lending it back to you at higher rates. It’s like women, you can live with them or live with them.  I know 2% doesn’t seem right, and the more so if you are bringing 100 million into their bank. All you can do it say “I’ll give you 1%” and see what happens.  Or you can go through an exchange and then put the money in the bank.

Caller:  There was a British pilot in WWI who lost both his legs;  he finally got back into the pilot’s seat for WWII, with 22.5 kills.  He was shot down, and the Germans asked the British to parachute in two prosthetic legs for him.  The book is called In the Heat of the Battle, and it’s about those who rose to the top… and those who fell out the bottom.

303 caller:  Is this Dr. T, professor of dinar enlightenment, and Sir Winston of Lone Star?  I have to say, the Super Bowl is the perfect metaphor for the last few years of the RV.  We are at the one-yard line, someone calls the wrong play and we lose.

Does it matter if my notes are circulated or uncirculated?  I bought through a dealer and I have a receipt.

DC: So the notes are registered to you, and that is fine.  For those who bought notes in Iraq, you might need your orders or something that shows you were over there at that time, to show it’s not criminal. Those of us who have been to Iraq in a more secret position will have to get a public document saying you were over there for some reason, to show you have the currency through legal means.

Caller:  Recently there was a rumor saying dong might be eight cents – what’s the origin?  Is that reliable?

DC:  Several banks and a banking friend.  It is reliable right now and highly subject to change.

Caller:  If so, what kind of Forex exchanger should we look for if we want to set notes aside with the expectation that they will rise after this goes public?

DC:  History of how quickly they wanted the public to exchange:  they really wanted everyone to get through in 30 days.  That was fine until the banks backed out of doing this together, and many got sated by the early exchanges, and they wanted to et out of it.  So that changed from 30 to 90 days, realistically.  After that, they will make it more difficult for people to use the older dong and dinar notes.  Why? They don’t want bad guys to use these massively increased rates to store value.  That is also why the US only uses $100 bills, to make it harder for bad guys to move massive amounts of cash around.  It can buy a car with cash, but you will be investigated if you do.  They don’t want that to happen to the dinar, dong, zim, etc.  So what they will do is to ask a lot more questions if you wait until after the 90 days.  There will be banks to do so, and they will handle it so long as it’s legal currency.  However, expect delays for investigations to make sure you are not a bad guy.  It might take up to 90 days in order to exchange at all.  If you are willing to bet, you can do various futures and Forex and/or multi-currency accounts to take advantage to a change in value.  There are many different answers besides actual currency.

Caller:  What if I ask the bank to structure an SKR for me?  As in, “here are my currency notes;  please lend me some money now against the rising value further down the line.?”

DC:  That is a good idea, if you can persuade a banker to do it.  As for a timeline, there are some debating the merits of tomorrow, Thursday, the weekend, and right now.  They are all possible, with nothing in the way that we know of.

Tony:  Good questions.  Can I give a non-politicians answers?

DC:  You have no idea how my friends chew me out when I say something they think is sensitive.

Tony:  If you listen to this call again, you’ll get more information.  First mouse gets the trap, second mouse gets the cheese, third mouse gets the cheese factory.  For those who can wait, who see the long-term benefits, it will be greater later.

Q: Why are they showing the advert on Iraqi television again? Does that mean another month?

DC:  It is for easing frustration as well as to fill air time.

Pam:  One member has submitted this question many times. There are unlicensed currency dealers selling people currency, and now the banks are asking for receipts. Will those who innocently bought from such dealers liable to have problems?  Might we even have the currency confiscated?  I am in Barbados, and a friend in the US bought from such a dealer.  I have no receipts, but he did give me a gift letter.  Also, it is still possible to exchange 5K or 10K notes just for liquidity?

Tony:  it’s like those guys selling dinar as an MLM, and using my name to do it!  What happens to those people, who may not have valid receipts?

DC: We are not lawyers or law enforcement.  However, they have told us that the bad guys will be caught and punished.  For most people, if you don’t have receipts there are a couple of issues.  As long as you can track where the currency came from and you are a regular person, you should be alright.  Law enforcement is not looking for ordinary people to give a hard time.  The IRS is a bigger problem, because the time you bought or received the currency is important. If you’ve had it more than a year, it will be taxed at long-term capital gains rate.  If you’ve had it less than a year, it will be taxed at short-term capital gains rate.  If you can prove you’ve had it more than a year, IRS will assume that it’s short-term.  If you have done things correctly, law enforcement will not come after you.

Tony:  If you don’t have receipts, they might want to know what meetings you attended, with whom, how much, etc.  They are really looking for the big guys, and if you are not one of them, you should be okay.

OMG ... I don't even know where to start ... I almost fell off my chair when they said some folks had been on the call for 1400 minutes. Do they have a leased line dedicated to the call? ... that's about 23 hours and 20 minutes.

Then Tony said something about the US using only $100 dollar bills. Really? Let's assume for argument's sake that the $3.60+ the gurus have been tossing about is accurate, so then when you go in to exchange they would give you a wheelbarrow of money? That sounds more like a SNL skit! Do these idiots actually listen to the call, are they that stupid?

Kevin the funnier thing is that who the hell is going to exchange for cash??. I've got 2.5 million dinar...at $3.6 that's $9 million. F a wheel barrow I'll need an dozen with a big ol bucket on the front. And I'll probably have to fill up my back yard and do a Scrooge McDuck and jump in to it....

Any transaction of that sIze I I'll be done soley on the computer screens. Some cash may change hands...but not that much. It's ridiculous to even think that people would need that much cash...for what??  Go buy a $250k car...a cashiers check carries the same amount of weight as a suitcase full of hundreds...so why bother carrying around that much???

I also found this to be 'interesting.'

They won’t send the money to those areas but bring people out of those areas to get the money and ration cards.  That will draw them out and that’s why it didn’t happen this weekend.  They changed the electronic banking system so that they can now choose which branches get the updated rate and which do not.

Face it, the whole thing is classic Tony. He doesn't even bother with "Dazzle them with your brilliance", he cuts straight to "Baffle them with your bull sh*t." Sense? Sense? He don't need to make no frigin sense!

There are no words to describe such BS from a group of ???? like I said no words can describe this . And Tony and DC , I'm on record here! Your lower than whale crap at the deepest level.