Monday, April 13, 2015.

Tony:  Good morning, TNT!  Today is Monday, April 13, 2015.  We are here once again where we shouldn’t be.  We’ll let DC do a lot of the talking, as usual. There is great information, though – we are still ready, and I asked them to have good questions today.
DC:  I hope everyone had a good weekend. We are still where we were on Friday, everyone is on call, and we are set up before Wednesday. Everyone is still on lockdown.  Iraq is very ready, preparing things.  They have done more adjustments in Parliament, more updates, that’s all the same. Abadi is in the US right now, but the Iraqi television is still expecting monetary reform in the next few days, Iraq is the strongest country in the world, etc.  They have had one announcement or training to make sure people are aware of the changes.  One thing is that Pam pointed out that the Budget was published in hard copy.  That is another pressing deal.  ISIL is still being prepped for taking back Mosul.  Abadi is talking to different folks in the US re:  Mosul planning.  Not much has changed in Iraq;  they are on the highest of alerts.
Tony: Abadi and his entourage are in the US right now, and they are scheduled to have an appointment with President tomorrow, plus many meetings over the next three days while they are here.  The news on television is still saying the final phase is coming to an end in the coming days… even though that has been seven days now.  Announcements have been made in the mosques, too.
DC:  In Iraq, they strongly believe this is the final week. They are just as frustrated and perturbed as we are.  The finance guys have said “now until the 15th, and it’s not the 15th yet”.  Why are they waiting?  The ‘good idea fairies’ have sprinkled fairy dust on the process this weekend, but most have been deal with.
Tony:  Let’s talk about the June issues that people are complaining about.  The first one is Mosul, even though they have said that they changed the plan and they are here to discuss.  Then because the Iran agreement wasn’t resolved by 31. March, they are now saying that this RV cannot go until that is settled, which will be in June.
DC:  Regarding Mosul, the actions have already started to occur, with softening of the target for a while now. That is part of the process.  Also, they were going to use the RV as part of the demoralization plan as well. Some folks in the US have tried to get Mosul first, but everyone else is saying “we’re good enough” plus the RV is part of the military campaign.  It’s stupid for the soldiers to fight on when they will get killed and they could just go  for the RV and be rich instead.  They are talking about it, but the attacks are already going on. The military planners want this cleaned up.  Many folks are saying you need to get rid of ISIL, but that is not essential to get this going.  They are not prepping for the RV to be months away but to go through now, by the 15th.  Can things change?  Sure.  But it has been constant for 10-11 days now so we’ll keep with that.
In terms of Iran, that deal is not even half-baked. They are trying to get a framework together, and now that framework has been agreed to by Iran and the P-5+1, on how Iran can rid of their sanctions by avoiding nuclear bombs.  It’s controversial but highly publicized and we’ll have to see how that goes through.  They’re not banking on that because the timeline is to be completed by June 30th.  It affects Iraq because Iran is a major neighbor and we’ve known for a long time that Iran has nuclear ambitions.  We don’t think that is going to be put in the mix according to my sources in the US or in the world at large.  The chances of it being implemented by the end of June are highly unlikely at this point, so it will not affect the RV, as I understand it.
In the USA, everyone in the administration went down south and that was a success – that was nothing to do with the RV, but about the Americas, normalization with Cuba and security issues.  There was an historic meeting between the President and Castro, but that has nothing to do with the RV.  Abadi and his team are in NY today, DC tomorrow, talking about what to do with Mosul and about the RV.  Many are disappointed it was not a victory lap, but banks and law enforcement are still on high alert.  Everyone is very antsy, waiting, on call.  The trillion dollar question is this:  will they do it with the PM out of country.  I personally think they will wait for him to go back, and I think it could be very quick after he goes back. Some who are much more intelligent and connected than I am say that is not necessarily true, and he can fly back very quickly.
Tony:   Last Thursday and Friday, things were going along.  You say people were very disappointed this is not a victory lap because that is what we were told.  The people of Iraq were told this was going on Sunday.  Banks told their people to be prepared for a huge crowd on Tuesday morning. That was the plan as of last Sunday, so people were very exciting.  It didn’t happen Sunday or today, but there is another projection.
DC:  Banks are on lockdown for staff, managers and exchange people;  they’ve had their phones restricted, etc.  They are keeping it at that high level and also say ‘early exchanges’ will start very soon.  We have been told that worldwide, they will process 9-14, 000 per day.  That hasn’t begun and we don’t know why.  I don’t believe Abadi needs to be in-country for that.  Everything is prepared and ready for that, and we were asked if we could be ready to help and of course we volunteered to help if we can.
Dems and Republicans are still ready to go.
Tony:  I didn’t know about that phone call, but that is what we do. We bring you what we get when we get it.  It’s right in the minute.  We got the information yesterday and today that there will be new exchange locations that people we are in close contact with will be involved in the exchange process, and the procedures will be updated today and tomorrow.  So you can thinking about what you will do in each of these situations.  You can have a plan percolating and we can help you plan.  That’s why we do what we are doing – to help you make plans.
DC:  on the early exchanges, they are still planning 9-14,000 worldwide, NOT per bank.  People are still on lockdown and everything else is prepared for that.  That is wonderful because that gives us a fighting chance of getting through. 
Tony:  There is an opportunity this week.  We are not at the end of the month.  Even though the Iraqis are here today, the early exchanges should get cranked up.
DC:  Everything is highly subject to change.  They were supposed to go through last Thursday, last Friday, and on Sunday.  So…
Tony:  Thank you for all the packages of macadamia nuts from  The ones from Hawaii, though, those are different!
716 caller:  Hi!  I’ve been listening for almost five years.  It seems like every time it gets to a head, it drops off for one reason or another.  Is it every going to come to fruition?
DC:  It seems that way to everyone, including me;  it gets up to the point then someone has a ‘good idea’, but sometime they will have to stop and let it go.  They have to stop this constant pain-in-the-ass situation and let it go. Everyone is so tired of these ‘good ideas’, between ISIL, and all the rest.  The pressure is immense to stop that process.  They have given themselves leeway until the 15th, that’s what they have been talking about for the last 11 days, and they are using this as a forcing function now.
Tony:  Let’s look at the bigger picture.  The people of Iraq have come so close to rioting in the streets, and every time they have to reward them with a new card, a new rate, an they have run out of things to reward them with.  Even with them, whatever ‘a few days’ has to run out, and there is nothing to stop them hitting the streets this time. They are looking for that golden future, and they keep being told ‘phase four is coming to an end’. They know this has come to end and “where’s my money?”  Now it’s two weeks since Kurdistan has been paid and when is Baghdad’s turn?  People were brought into the banks in the US over Easter weekend, and this last weekend as well. All that is building and at some point it has to come to an end.  The banks have been authorized to start early releases, but now the banks don’t have confidence in it either.  Or why exchange early when the whole thing will be released very soon?  The bonds were paid last week;  we know that Friday they got their money in their accounts.  They called people and told them that money is sent to their accounts tomorrow. Things are so close, we can’t see this being dragged out much longer.
Caller:  It seems they are looking for perfection before this happens, and that will never be.  I’m confused and dismayed, but I’m still hanging in there.  [Appreciation]
617 caller:  I read in DinarRecaps that the private groups will go before the RV. Do they mean the people the banks are picking?  Or people like us?
DC:  It’s supposed to be both.  That’s what the early exchange process is about, to lessen the economic impact.  They will take the groups first and also early exchanges, but no one knows when.
Tony:  Most of the early groups have gone through or at least done their final paperwork.  They  know what their taxes and deposits are, and they  can see their deposits in their accounts.  The banks know who their own customers are, and they can contact them.  The WMs have lists of people who they have talked to over the years.  That is where the lists will come from, and I can give them 40,000 additional people!  It won’t take long once it starts;  we’re just waiting for it to start.
DC:  In smaller towns, the tellers who are already trained have signed NDAs and they cannot even tell their bosses or managers.  One gal I know was trained 4+ years ago, and has been through further training,  and she was specifically trained NOT to tell her boss.  Most of them have been trained specifically in the dinar, dong, zim and rupiah.  We have to wait for 800 numbers or for the banks to call us.
404 caller:  You said this was expected to go on Sunday;  who put the stop on that?
DC:  IMF, CBI and BIS… I don’t fully understand why.  The initial information so far, highly subject to change, is that it was primarily dictated by the CBI and BIS. 
Caller:  There is a rumor that has to do with the Fed and the UST.
DC: The lines between those two are pretty strictly enforced.  They are sticklers for keeping everything separate, so that there is no political influence on those two.  I think Janet Yellen is doing a fine job and not allowing a lot of game-playing. So I don’t think the Fed and UST are fighting over policy stuff.  They do coordinate and communicate every day, and they should.  The Fed is our central bank, and they will be handling a lot of the currency changes.  That’s where the bank feeds come from, so the Fed is a player in this game. 
Caller:  I’m intrigued when you use the concept ‘good idea fairies’…
DC: They are international;  the latest came from the BIS and IMF, with help from mid and high level CBI guys.  I don’t know if any other good idea fairies are involved.  It is exhausting for everyone involved.  In the oil business, they say “nothing is more expensive than a good log”.  The same is true for the RV process;  a lot of the ideas are actually good, but come on already – we’re close enough, let’s go!
Caller:  With some of this coming from the CBI so close to Abadi’s visit to the US;  what’s his response?
DC:  They are all just pissed off, frustrated, agitated and tired. Abadi is no different.
Caller:  What will be involved in the updated procedures?
Tony:  They are still doing it today and tomorrow, which should tell you something.  We should be able to tell you something later in the week.
Caller:  I hope it happens by the 15th;  I hope this is the last call!
423 caller:  I’ve been on this thing four years, listening to every call.  If I consider this a job, shouldn’t it be on my taxes? 
Tony:  I don’t know – have you been paid for it? 
650 caller:  There was an article published about a four-phase process.  What about the stabilizing the value prior to doing this?
DC:  Stabilitization of the US dollar is important but challenging since 2004 on;  they have done a tremendous job with that.  The plan demands stability in the country, the currency and the markets.  They have got rid of the political problems for the most part, so that is stabilizing the markets.  The price of the US dollar has gone up dramatically because most of the world economies are in the crapper, with sanctions in Russia and Iran, and with the Eurozone down in the dumps.  We have 2.4% GDP, which is not great but at least we are not dying. People are doing for safety, and that means that the US dollar and US Treasury bills are going up, making it more expensive for other countries and their currencies.  The auctions also cause tension and on the streets they are having issues.  Iraq also has a physical money problem and what they do have are worn out, so that is forcing them to use US dollars even though they don’t want to.  The  dinar notes are just worn out.  There is only one way out, and that is to RI or RV, but it’s leaking out in an enormous fashion in Iraq.  It’s messing with the flow of money and that is causing hell trying to keep the dinar stable.  They are having trouble keeping it on board.  Shabibi has done a superb job, but the only way through is to RI.
Caller:  If this is in the IMF’s hands, is that the reason they cannot do it at this time, until they can re-establish control?
DC: It’s not good, but it’s not like the world is coming to an end.  They can cope.
Caller:  If there is a dual-rate system in Iraq, how can they use their cards today?
DC:  Some cannot use their cards at all, although it shows money in their accounts.  Some can use the cards using their rate, although the government is paying them in different rates.  It’s a big giant mess.  Most businesses and the government have stopped the exchanges going on at all, and that has slowed down the economy a lot.
Tony:  On Friday and Saturday, they were adjusting those rates again and this was supposed to go on Sunday, but it didn’t.
Caller:  So if they cannot use their cards or get cash, what is the point?
Tony:  That is the same thing here:  some people have money in their accounts, but they cannot use  it.
DC: The lower denominations are being circulated apart from the fil coins.
719 caller:  Someone’s sister went to the bank in Houston, and they said that they would exchange on 20th April, and we didn’t believe it then.  It’s not about us but about Iraq;  if they had been paid, we would wonder what was holding this up.  Is any of the delay through the IMF?
DC:  The US has been very hands-off for the past five months or so now.  They have been staying out of it, although they’ve been making their opinions known.  They have not been actively blocking things that we know of. This everyone trying to get perfect.
Caller:  Can you tell us any of the ‘good ideas’?  Do they have to go along with those?
DC:  Abadi and Shabibi are pretty good at killing them, but sometimes those ideas have already taken hold before they get to their desks. This is very fluid and no one has absolute authority.  Shabibi has the authority to pull the trigger, but he has to herd 1,000 cats to get this lined up.
Caller:  What are we looking at this week?
DC:  I can give you my opinion, for what it’s worth.  ABadi and his team are here to work on ISIL issues, Mosul and military hardware.  He is scheduled to go back to Iraq by the middle of the week and then he is free and clear.  The early exchanges can happen whether Abadi is here or in Iraq.  I don’t believe the 15th is the final date.
Caller:  Do you think it will happen this week, by the 15th or when?
Tony: The banks have been authorized to do the early exchanges today, but for some reason they are not doing them.  I understand they will start toing them this week.  I don’t give a date because they will change it.  We know it’s here, we know they can do it, and it doesn’t make sense for a standing PM to announce a major change for his country while he is in another country.  There is a plan and a timeframe for the early release and for a public release.  I don’t understand why the banks haven’t done this.
Caller:  If they were authorized last week, they could get a lot of people out of the way! Also, you said that the historic bonds cannot be paid without an RV.
Tony:  They have been paid, they have transferred money all around the world because the RV has happened, it just hasn’t been announced publicly yet.  However, the more people they pay that we know about – and we know the locations, people, tax rates and fees – the more confidence we have that this will go and we will get it.
Caller:  I don’t know if people know how hard weekends are on people.  They don’t have the money to go out and do stuff, and it’s tough to stay positive.  Any kind of update sure would be appreciated.
Tony:  Unless there is something really, really happening that will affect this, we don’t do that.  I haven’t seen anything to that effect yet.  It’s hard on you and on all of us, especially when they tell us that it’s happening on Sunday, then it doesn’t.
DC:  And these are the people doing it!  We have the same questions for them that you have for us:  How can you not know what’s going on?  Or why it has changed?  There are so many moving parts that it’s hard to get this synchronized…
425 caller:  You have an interesting article about bank perks, and one of them says something about parking your funds in overnight funds that guarantee 1%  per month, which is 12-15% per year.  Is that real?
Tony: That is possible, but not for the average person who has only a few thousand dollars.  If you have millions of dollars, you can work out something totally different.  Also, there are other places to get that, beside the bank.  You have to negotiate with the bank, and other places to get that level – investment places overseas, annuity accounts here, and many other investment vehicles that pay you that level.  They are high-risk, high-reward.
Caller:  They start to do the early appointments, will those be international or contract rates?
DC:  We have been told that will be 9-14,000 per day, and both rates are available.
Caller:  When people bring up security problems in Iraq, you say that’s not an issue.  As I watch the news and read, that seems like a big deal, so why do you say otherwise?
DC:  Yes, it’s an issue, but they have known it’s going on for 2-3 years, and that has not impeded the RV well over 130 times. We are talking to people doing  the RV, and although they don’t want to announce it on a bad bomb day, but otherwise it’s not an issue on holding up the RV itself.  Yes, ISIL is a bad group and they will be punished.  They did hold the RV up for the first day of Tikrit.  They do want the details to be perfect, but dealing with ISIL and the other issues is part of the game.
Tony:  The RV itself, the currency, is being used as a weapon against ISIL, so that people will drop their arms and buy consumer goods instead.  Any time there is a major event, you can’t have half the country crying, the other half celebrating on the same day.
208 caller:  Sometimes I’m in Seattle and sometimes in Idaho;  where is better to exchange?
DC: The bigger cities will have more options, more places.  More significant will be the situation with the income tax.  In some states I have to pay taxes on profit made there, so that is the issue.  The state that has that much money flowing through it, they will want to see some of that in taxes.  It’s wise to plan with that in mind.
Tony:  They can wipe out all the state tax, and the feds will get so much money they will send some of it to the states through programs, so the states will still get some money.
Caller:  This has been going on so long… can you update us on the rates?  You said we would be happy and some of the rates went up?
Tony: The most recent rates I’ve heard are  4.20 for dinar, 1.27 international / 2.27 contract for the dong, 1.05 steady for rupiah, zim from .15 up to .22 and the other one we’re not talking about.  It’s all still good guys – it’s not new, it’s done!  The only thing exciting will be ‘here is the 800 number, let’s go to the bank!’
410 caller:  It’s beautiful here, in the middle of the afternoon.  You said something about new procedures;  these people who have been training, maybe there are getting new instructions?  If they had to be trained for years, how do you change that quickly?
Tony: We don’t know who the changes apply to – just the banks, or us as well?  The good thing is that more people are being trained at a lower level, because this is about to happen.  It involved more people in the banking system.
Caller:  I heard that other new banks are participating… I heard SunTrust might be involved?  How is the spirit in the banks these days?
DC:  A large number of the tier 2 and 3 banks will be handling this just like other foreign exchange procedures;  they have been retrained and recertified in the WF process.  A few will also offer contract rates, but at tier 2 and 3 it will be mainly international rates.  They will be ramped up more slowly as well and will have a hard time catching up.  The banks are starting to have major issues with people getting frustrated and leaving.  The banks say their staff cannot buy currency but they just go buy it elsewhere.  Some are calling their relatives and telling them to buy currencies. That banks are highly worried about what’s going on. They have internal security and regulators updating them on estimated dinarians working for their banks, and the number is climbing rapidly.  All the banks we are talking to are in a bad position because their staff are getting pissed.  The employees either have currency and will retire, or will quit through sheer frustration.
Caller:  Are the tier 2 banks doing early exchanges?  [Appreciation]
DC:  Not that we have heard so far.  Remember, we only get 60% of the information.  
Tony:  We do have a huge team who look at the numbers and the information, and they support us in these calls. 
DC:  Some people gripe that we tell you too much information.  I thought it was evident that we are more involved in this process than just leaking intel.  If someone is a high-level person in the CBI, UST, Fed, administration, Congress and so on, they never expected many people to find out about this.  They thought that dinarians were just dinarians and conspiracy theorists, but then there are people like Tony who are just trying to educate as many people as possible.  So part of that job is to have a voice in there, to have someone whispering to those influential people and having our points heard in a meeting or two.  Now the people in the process now accept the economic impact this will have in the world, and they are proud of that influence.  That’s where I volunteered my own services to this call, and ‘voluntold’ my sources and contacts to that end.
Caller:  This is an internet community that feels they can trust what you say and this is a huge education for the entire world.
Tony:  When we started, that is what set us apart from everyone else.  The other sites talked about dinar and they always wanted to recruit you into some package, etc.  It wasn’t really about helping you understand the currencies AND your future.  We are trying to tell you how to protect yourself, how to use that money five years down the road, and the whole mindset of being rich.  I think that’s how we are less full of s**t than the other sites.  People recognized that and this is why DC is here today.
775 caller:  [Appreciation]  I’m looking out for an 89-year-old woman who inherited this currency when her son died, and now her husband has died, too.  She is on her own. You mentioned about changing your phone number. What are the five most important things I can do to help keep her secure, without scaring her?
DC: This is what I will do: 
1.    Change my phone number for business calls.  It depends on how exposed she is.  I am very exposed especially after these calls.  It’s not hard to figure out my number.  But for those who are not as public, it’s about what you have done out there.
2.    Change your address.  For instance, use a PO Box, and you can forward that to another PO Box or another address (like your attorney) so they cannot reverse-address it.
3.    Talk to an estate attorney so your wishes are well-known.
4.    Go slowly; you cannot spend money too slowly.
5.    You can pay for accommodation and medical needs ahead of time.  There are wonderful high-end secure retirement homes run by terrific people.
6.    Change your email address.
It’s really about hiding in plain side.  Don’t buy flashy cars or jewelry.  If you have normal cars, clothes and such, no one will notice.  It’s great you are caring for her.
Tony:  At 89 years old, she should have someone go in with her.  She needs to restrict access through her wealth manager ONLY, so she is not called by people who want to sell her things. She should set up a main account with NO credit card, and a daily-use account with a low limit on her debit card.  My mother-in-law buys from anyone who calls her, and some older people are like that, so you need to look out for that.  The banker will not let them if it goes through him.  Also, the personal banker will come to her.  The main thing is to keep her personal information security.
615 caller:  I have some guys in the UST, and I’m trying to understand the exchange process.  We take currency to the bank, the bank gives us dollars, and send the dinar to the UST, who gives them the money.  Why wouldn’t the banks want to exchange?
DC: That is the million-dollar question. 
Caller:  How will Iraq’s liquidity problem change with the RV?
DC: There is money set aside for reconstruction built into this plan, well over 100m dinar.  All the steps involved economic activities which will expand the economy. There will be tax revenue coming in as well.  Everyone says this has to be perfect, but this is a step to perfection.  There will be stimulus, but that will take a little time in Iraq.
Tony:  Let’s say you are a bank. This was supposed to go ten years ago. They started to pay out people two years ago.  They are doing this based on somebody saying “we are doing this and today is the today – no, it’s today, or today.”  They are exposed when they exchange before the formal public RV. What is the benefit to them doing it earlier rather than later, when they are going to get it all eventually?  Rather than eating it?
Caller:  If the UST gave them the go-ahead, won’t the UST cover that?
DC: The CBI is giving the credit for the long-term oil subsidies.  That process will continue, and that’s where the money comes from, ultimately.  But the banks have learned a painful lesson from 2008 that just because the government says it’s okay, that doesn’t mean they won’t get screwed five years down the line when the companies they took over have bigger losses than expected.  The government is saying that they are free and clear, but they don’t want to expose themselves any more than necessary.
Caller:  How will there be enough cash in the world to revalue dinar, dong, zim and rupiah?
DC: The base currency is the dinar, and that will be the new reserve currency instead of gold or US dollars.  That is based on the new VALUE of the dinar, and countries can use dinar as a reserve currency as well. That increases the value of the reserves in that country, just as Iraq backs its currency with their oil, gas and gold reserves.
Tony:  We could give back all the dinar right now.  The US puts dollars in our bank accounts, but that is just numbers on the screen – we cannot use it.  Iraq only has to pay for those dinar over the next 30 years.  So the US says that they will pay out the dollars over 20 or 50 years, by which time they have made enough in interest to pay  it out.  The numbers are larger than people think, and it’s over time.  Those are numbers on the screen, and people can spend it using credit cards and such. They don’t need cash.
Caller:  Let’s say I have $150 million – I can’t take that out?  I have projects I can put it in.
Tony:  What will you do with it?  It will still be in the banking system somewhere…
Caller:  I just don’t get why they haven’t pushed this through.
DC:  It’s not a money issue or an accountability issue.  It was not designed to be such a huge thing.  Because it is now so massive with so many moving parts, if one of those parts is rattling, they have to address that.  They are now in a state where they can implement those early exchanges in a minute. We think that is a wonderful way to get people threw at that level.  We believe in early exchanges.  They should do that to lessen the impact on the economy, resources, and the PR problems.
Caller:  So if they process 9-14,000 per day, how do you get on a list??
DC:  If they get going, I’ve been told that (roughly speaking) there are people on existing lists, and that will take up half a day worldwide.  They will have to come up with more people to go through.  We have a list and we talk to people on the phone, like you, that are educated and can go through the system quickly and cleanly.  We can post a phone call that educates more people on how to get into the system, with the info they need all ready.  That 9-14,000 is individual exchanges, as well as the groups.
Summary:  We are all frustrated, everyone in this entire process. Everybody is prepared for this to go through, but apart from early exchanges, we believe they will wait for Dr. Abadi to get back to Iraq on Wednesday.  There is no restriction on early exchanges;  let’s hope and pray this goes across the finish line.
Pam:  I am ready, I am waiting and it’s worth the wait.
Ray:  Continue to enjoy Marvelous Monday and we’ll see what happens on the 15th.  I’m excited and you should be too.
Tony:  We can always tell you what is going on after the fact.  It should have gone on Sunday, so everyone is ready for this to happen.  I don’t imagine it will happen while PM Abadi is here in terms of the official public announcement.  We do know some things happened last week with bonds and paymasters saying they are sending money on Tuesday (tomorrow).  We are not waiting for Mosul or Iran, and I don’t see that they can drag it out for two months without people going crazy.  It’s time for the Iraqi people to be paid and start enjoying their blessings. The banks are making changes to the payout procedures, and we won’t know what those are until they are released.  I do think we will have to have a Wednesday call before this is announced.  Enjoy the rest of your day!

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