TNT – Friday

T saying he lets them talk for 2 reasons..one is people are excited about being on the call and the 2nd is he likes to talk to people

(doesn’t explain why they are allowed to be the same ones every call and take up most of the q & a time.. just sayin’ (chuckle))

T explaining that he told us a few years back that there was a ‘plan’ for China to be the world’s leading economy, and as of today, they are, and the U.S. is now 2nd.

T speaking of all the ‘something new’ coming along, and how it always has. Saying doesn’t mean all doom and gloom, but changes do come.

T – Let’s get to the good news, DC?

DC – Hope you are having a great morning…let’s go to Iraq…Abadi is back in country and everyone is lined up and ready to go. At the mosques this morning they were saying pay attention to these websites, etc. we have all this planning done and this is ready to go through. More movements happening. Budget adjusted and a few other moves. You saw that Abadi retired ‘several’ other high-ranking folks, so that is a good thing to get a fresh start. He continues to pull people together as does his entire team. Both Kurds, Sunnis and Shi’a’s are working together more than they have in a very long time. On TV, they are saying we are finished or we are about to be done, and we are about to be very wealthy, etc.

DC – ISIS same thing continued good progress with that. NATO and Paris were successful in bringing the fight to those guys and that is a good thing. We are just waiting for the RV in Iraq. Pretty straightforward.

T – Everything is done, and it’s the weekend, so it’s Tony time lol

DC – we did what happened in Brussels and Paris, so we did east to west and while there are many promises at different levels, the U.S. basically said yes we are going to do it and they said basically, ‘don’t screw with everybody’ and ‘we know what you’ve been doing, so stop it’ So it is good to add a little pressure to the situation. The UN keeps pushing to get it done, and the US, BIS, IMF have pushed out new rates to everyone in the last couple of days and those were successfully taken by all countries, and not just the central banks, but to all levels of bankers. Thank you, IMF & BIS. The Administration is very much playing ball and doing what they said they would do, and bankers are ready and have accepted the rates.

DC – We are back to most banks will take the customers they want and a few banks will take the masses. Law enforcement and bank security is engaged and ready.

Pam – We have people on our site promoting things, maybe they are MLM’s or charities, or trying to sell something to somebody, so I wanted to remind people you cannot promote anything on our site and you will be banned for it, so don’t do it in private messages or the chatroom, just don’t do it.

T – People are gathering private e-mails, for various reasons, and we get a series of those because we are not here for others to build their own e-mail list to build their sites and I’ve been warning you for years and they are going to get your information and you do not know what they are going to do with it to invite you to their investment club, etc., but I’m going to tell you after this, ‘I warned you’.

T – Bad people use charity or other things to fool you into thinking they are good, but I’m not going to say his name, Pam.

C – for the last month or so you ‘ve been saying so many thousands have been going to the bank and exchanging, and I’ve been sitting here saying, we’ve been here for a year hearing that, and we can be here hearing that again. How can we get some of that information that we can get in line?

T – you want us to give you specific locations that this bank is doing this exchange for these people. How do you get in there? Do you go up to a teller and say, ‘let me in’? Do you say, I’m going to riot or threaten you unless you let me in? We’ve got the information and we can’t get paid. They’ve got their own system and they are working that system, which make us confident this is coming. Are they going to do a million or two million citizens before Iraq gets to go? I don’t see that happening.

C – So, yeah, I see that, but can’t I just go to the wealth managers I know and say, ‘Hey, Joe’…

T – So you want 240k possibility of people calling Joe?

C – yes, just through the scenario out there

T – I know, but they will shut the system down if we did that

T – We have to wait. Our next time to be upset is if Iraq gets paid, and we don’t. That’s when we react and go all overboard because that is when we will think they are trying to leave us out. Some of the people that have gone to the bank don’t even know how they were selected, just that they were.

DC – I’d like to bring up a point that I know some people are worried about, but something I went through yesterday afternoon. There was a rumour floating around in DC about the U.S. being cut out of the exchange process. Frankly, the mistrust between the Administration, Congress, and it came from a Democrat that called me and said, “Winston, we are going to war” and we are bringing those blank blanks down. This is not a firebrand person, and my point is as a reassuring point is that they are worried about it as well and the distrust factor is there. I think it is way too much mistrust, but they are not going to let a lot of dirty mish-mashing go on and we were able to calm it down.

DC – My point is there are many people at the highest of levels that are concerned with this and watching closely as well, and are saying it is ok, there is misinfo that has gotten out. Nobody wants to screw the American public, even the folks that have delayed this. I personally disagree with why and how they have delayed this, and that’s not going to happen until Iraq goes and I think most of us understand that is fair. Many people watching out for any funny business going on.

T – just know that we are loaded and aimed and ready to go at a moment’s notice if we are not treated fairly, but as of this moment we do not need that.

C – the confusion is they want to know what we are going to do with our money, and the thing is how to they decide what they will approve or disapprove, and how do we know what rate we will be put into? I thought it was an open door rate for everyone, so how can they tell us you are only going to get this rate and someone else gets this one?

T – Again, we don’t have the package yet, so we don’t know how it is going to work. I can tell you the people that have exchanged and they have a code and that code assigns you to a certain rate.

DC – Yes, they are cleared in different lists

T – So they are already assigned a rate, so they get an offer based on what they plan to do. It doesn’t mean everyone gets the same rate, but when they went in the WM says I can raise your rate up based on what you want to do. The other thing is this is a law, a rule, an option that banks don’t have to have you as customers. They get to choose who they want as customers. They are looking for people that will have longevity, and they have the option of telling a customer that we don’t want to be your holding company and send you somewhere else.

C – Are they going to tell you how much access to your cash you will have, and what they want you to do?

T – Again, we don’t know how much access you will have to your cash, although everyone will have access to some cash, we just don’t know what their requirements will be.

C – you guys were talking about a background check after you exchange your funds and my friend was telling me he has a wire fraud against his background check. Will that count him out doing his exchanging, or do you know that?

DC – Frankly you will need to check on that, as our understanding is that they will just say ‘bye bye’ if there is something there that stops them.

C – Is the U.S. playing games with the oil systems?

DC – All economies are going down right now, and so what happens is ‘what is the economic world doing’? , then you have the Saudis who are a little aggravated with some of the shell play and Iranian stuff that have kind of de-stabilized situations and they do not like that. So they have naturally blocked the dropping down of the oil pricing.

C – What about the HCL?

DC – The HCL is in the budget and adjustments have been made, and the budget will be coming out.

C – Has it been printed in the Gazette, or does it need to be?

DC – Some of it has and some has not, but it doesn’t really matter for the RV.

C – Is HCL permanent?

DC – HCL is a living document, so will have adjustments, but basically has the 17% being paid and each individual person will get a royalty check like people in Alaska get, and that will constantly adjust.

T – I twill adjust to production and price, right?

DC – right.

DC – right.

C – How do we find out if we get contract rate?

DC – Our understanding is it will you will know going in whether or not you can get the contract rate, but will base on what you leave in the bank, etc.

T – Don’t get upset if they tell you that you get that 3.58 rate going in, because it will have to do with how much you are willing to play ball with them on and leave there.

C – My concern is at the 3.58, I will only have around 700k, so is that enough to speak to a wealth manager?

T – Great reality question, if you have 100k 300k dinar, that 3.58 is probably going to be your rate, as you do not have enough to play in the upper crust level. That’s why they said the majority of us dinarians will be broke in two years because we have a majority who have 100k dinar, and less that have a million or more. Everyone needs to understand it is just business that the bank will choose who they want to do business with, because that is how it is done. I don’t know how the banks are going to break it down, but on the average if you have 100 or 200k dinar, you should count on getting the $3.58 rate. That’s just it.

C – I just feel bad for my friend, and it just doesn’t seem fair that those with less won’t have a chance at the contract rate.

T – it doesn’t seem fair, but it is what it is, and I don’t know that the minimum is a million dinar, so I do NOT want people to go out and buy more just so they have that much, as I don’t know exactly how they will do it. If you know what to do with what you have, you will be able to make it into much more, but it is not a lottery ticket type deal.

DC – the VAST majority of the people are going to get the international rate, as the contract rate will only be available for a few days, maximum. But some people will be offered to become a long-time customer and may get offered a higher rate, say $4. Most people will get the international rate, though.

T – That’s why people need to be making their plan now, so when the question is asked they are prepared to give an answer. Do that prep work now.

C – Is there any truth that the UST may give us a document stipulating what our tax situation will be? The reason I ask is do they know how messed up this will be with tax preparers in not knowing what will happen?

DC – I agree, it would be nice, but it is not there. That’s why we tell people to prepare for the highest tax rate and then be pleasantly surprised if it is lower.

C – Yes, but how will that be communicated to the tax preparers?

DC – It will be in their regular memos, and personally I believe there will be a h of a lot of law situations from people saying, ‘no it fits in this situation, so should be non-taxable’, and others saying, ‘no, it fits into this category’

C – for the longest time, we could exchange on note, call into Sterling and pay off our reserves and then come in and say, I own these. Now it sounds as if that changed?

DC – We understand that with the changes, all banks are not going to be doing it at the same time. Logistically it will not work, so that plan has been scrapped. A lot of banks in the areas will be able to do it very quickly, but some larger banks will not be able to as quickly. Some will participate in the old Bank of Ireland system, and some won’t.

C – I understand and have already talked to Sterling to exchange a 25k note to pay for my reserves. Are they going to tell me that I’ve already exchanged a 25k note, so I can’t qualify for contract rate anymore.

T – It depends how fast you can do this, the only thing you are trying to accomplish is so you can get it at a higher rate with the wealth manager, as the exchanger and the bank will both have the international rate.

C – I just want to be able to walk into the bank and say I own these, and would like the highest rate possible.

T – If you’re trying to get to the bank in the first 75 hours, you will NOT be able to do both of those, but if you are trying to delay it, Sterling will still be able to exchange you and it will not affect your appointment at all and that should not affect your rate at all at the bank.

C – So there will be no penalties on me getting a higher rate if I go to Sterling first?

DC – I’ve never heard that, no.

C – I was worried about double-dipping, etc.

T – What we’ve heard is you can’t go the BANK first and exchange, then go get your reserves and come back. Not the other way around. That’s as far as I know, and I haven’t heard anything different from them.

C – will it be the same for Zim/dong, etc?

DC – We heard to keep them all separate, because there is a likelihood they will tax them at different rates. It is best to keep them separate so they will be clean.

T – Yes.

C – From a mathematical standpoint, I don’t understand how they can do the 3 zero thing in Iraq and keep us at a different thing, but it doesn’t make sense that they could pay the local people with 3 zeros lopped, and we get the 3.58 with the 3 zeros still there.

DC – We know the exchange rate, but we cannot say it yet, so we are just using 3.58 as an example. The folks in Iraq are getting paid at the new rate and those who have done their banking have it and it is theirs. There is a large part of the country that is still on the old 1100 rate, so right now their credit/debit cards are making the adjustments, and it is causing no end of frustration for the Iraqi’s, accountants, etc. and everyone is going nuts with it. It is causing a great deal of grief. We are not lopping it off for them and not for us, it is just a matter of who is getting access to that 3.58.

T – His question is he has a 10k note, and we are going to get 35k for that. He wants to know why are they not getting 35k for their note.

DC – Sorry I misunderstood. They are saying it is worth the same there or here with or without the zeros, as their will have 35k worth of purchasing power with that 10k note, so they are NOT removing the value when they remove the zeros. There is not that much out there, but if their note says it is a 10 note, it will be the same worth as if it were a 10k note. Purchasing power is the same.

C – I’m suspicious with all the troubles going on when they go to international meetings. It appears they have been used to negotiate more time, like NATO and ISIS and leverage points they have with Iraq, and can you help me understand the trigger that will let this go. Clearly if they wanted to could be.

DC – Iraq is ready and wants to. The U.S. has just said they have all their t’s crossed and i’s dotted, but Iraq is absolutely ready for this to go through and eager for it to. Our understanding is that at a lot of the meetings a lot of people were put on notice to fold this out. Iraq also wants to do it on their timeline and in a nice professional, calm manner and want it coordinated well so that confidence is built in Iraq. Perfect example, if something is done badly initially, it is really hard to rebuild confidence in the govt, and it takes a long time to get back in the good graces. So, if the U.S. messes this up when it comes out, it is Iraq that will look bad, so it is very important for this to go out in a smooth, good way.

C – are we back in a specific window at this moment?

DC – Yes, we are.

C – At what point in December if it doesn’t go by a certain date, does it go to January?

DC – So there are a lot of people who love to second guess this, but I am not one and none of my people see this as a certain day thing. It has been for a long time a day by day thing. None of my folks are saying if it is not done by the 15th it will be January. None of them.

C – Tony if you had 1 question for DC?

T – Based on all the windows we’ve seen open and close, how confident are you in this one?

DC – They are very ready for this to be done, so I’m pretty confident.

C – How will we get info when you are gone? Like the windows?

DC – we know there are some windows for exchanging and that is very much there. We know the vast majority of the people that listen to us will already be through, so obviously those windows will have to change.

C – So what do the windows look like now for the exchange process? what if we have to keep calling and calling to get in?

DC – We don’t know. Our understanding is the rates may change, but will still be available, and I’m getting in as quickly as I can. Nobody is trying to screw us and what they don’t want is a lot of people holding up the line. That’s why Tony, myself and several other guru types are willing to educate folks, but we’re not the ones designing the systems. It is way above us.

T – there’s no way you should be calling and calling before someone picks up the phone, as those systems are set up pretty well.

DC – There are way too many people involved in this and have information, so that if the U.S. or Iraqi citizens are screwed out of this process, hell will fall down on you. And most of the people don’t want to prevent the average citizen from exchanging. Are there people who do not think we deserve it? Sure! Yesterday some of the most Sr. Senators called me and do you think they can’t call a press conference and screw this thing all up? that is NOT going to happen, as well as the people in this process are not waking up every day and trying to come up with a way to screw an 83yo grandmother from getting any money.

C – I’m just saying when you’re not around it will be so much more difficult to get information. You talk about the cattle chute, and when they are in the chute, they are usually on the way to their death. lol

DC – lol no, no, no!

C – the appointment is to be 20 minutes, right? what happens there?

DC – we tweet out the number and info. That phone call is to be 2 minutes or less, and you are supposed to hear, if you will be at 123 Main Street at x tomorrow with your dinar. You will then show up at 123 Main Street and you will go through the very simple process. They will have 3rd party security and they will have a technician that will count the money you have and count it out. The ones who have Delarue machines will run it through, others will go through individuals. Then they will tell you how much is available immediately, and how much will be available in 2 or 3 days. They will then send you on your way after telling you that you will be hearing from a WM in a few days.

C – what about what you want your money to do? Does that happen at your 20 minutes meeting? What if you’ve already met with a WM at WF and you want to deal with that person?

DC – What most WM’s prefer you to do is to call them first and say I’d like to go through with you, do you want to make the appointment for me? Our understanding is that most WM;s will have a way to set up that appt for you.

C – So maybe you don’t even need to go through that appt first.

T – Most are saying call the WM you know, don’t do the 800#.

C – what about Forex?

DC – We don’t know when it will be on Forex

C – bank story will not be transcribed

C – Are we hearing a timeline you can share with us?

DC – This weekend

C – wonderful! If one has a currency that has no contract rate, will we be under any restrictions of exchanging it at the time of ones that have a contract rate?

DC – You can treat each individual currency on their own, such as if you think one will float up, you can get x, y, & z, so you must make your own decision on how to do that. But yes, every currency will be treated individually.

C – Who is giving the banks the code to know what to give based on rates and how much they have?

T – Who’s assigning the code to our names?

DC – there are some of us who have had security checks already on us, and they are saying they are fine with us going through. The early folks have already had background checks and are fine to exchange them. They are not going to do that when we all show up at the bank.

T – His real question is do you know how they are assigning the rate to these people.

DC – I don’t know

C – who is assigning that rate to them? the bank isn’t, so who is?

T – We just said we don’t know

C – How in the world would they be able to do that, so what I’m looking at is all these IRS documents the Admin says they’ve been given, is that where?

T – lol…it’s wherever they are getting the list from. We just do not know.

C – So you go in and have a good amount in hand and a good amount in reserve, so if we get called in before the intl rate, we can’t go to a dealer and exchange one note at dealer. Can you exchange at bank if that happens, and then use your reserves at intl rate when it comes out? You’ve already bought them.

T – What we understand is they are not going to deal with reserves. People will go to dealers after and get intl rate.

C – reserves? (can’t get all of this part…sorry)

DC – bottom line is everyone is trying to make it as fair as possible, but some people’s definition of fair is not mine. What is occurring now, most are ok with, but they are ready to be up at arms with people in their own party or building if they or us do not believe we are treated fairly. I don’t believe they are trying to screw us over. They have been nickel and dime-ing Iraq terribly, but not toward us. Not intentionally anyway.

DC – We’ve been dealing with so much negative today, I don’t know how I’m getting to be the defender of this guy, lol, but both Dem and Repub and folks in the Admin, Tony & I get these incredible sob stories of people and children dying because they couldn’t get the care they needed. I’ve been sharing this with a lot of our information guys, and it has frankly worn on everyone. They have been very much touched by a lot of these stories and moments about what people are going through as they are waiting on this. Also the touching foundations people are going to start, and you’ve all got scars on you from this stop and start portion of this. I really believe a lot of people are going to do good with this, and this will be very transformational to society as a whole. The folks doing it are (some) 5 years past where they want to be in their jobs, and have put years on pause just to make sure this goes right on both sides of the aisle, in the Admin, and the UST who want this for the U.S. and Iraqis. Some positive information in there.

T – Guess who this is?

UGH!!!! it is 404!!

She is being herself and reiterating what has already been said before.

DC – the bank wants you to make one call, not 5. I’m going to say I have this much in this category, i.e. I have 6 entities. They will arrange that. They have told us, one call, one person, but it all goes out of the same social security number type person that goes into different entities.

C – are you going to be doing the 6 entities with the 1st call?

DC – Yes, because it could change the contract rate

C – in the past we were looking for some sort of announcement from Iraq? is that the case?

DC – as of now, Abadi will give some nondescript speech and the exchange rate will change and we go forth. It is to be coordinated between the central banks, CBI, etc. that is what we are waiting on, but they are realistic enough to want to be sure the U.S. is really on board.

Our understanding is they are going to try to handle this as low-key as possible, so there won’t be country-specific announcements, such as U.S.

C – Tony you said after 6pm est

T – just because it is their sabbath.. I meant 6pm IRAQ time, and wasn’t expecting anything before that.

T – Latest articles are saying the govt is reducing the work hours in Iraq until 1, and T, W, TH are declared national holidays, again! So they are doing something, but T, W, TH or next week are official holidays. We are hoping things happen this weekend.

DC – Hope everyone has the best weekend ever. Iraq is ready, rates were changed this morning and we are excited about that. Our understanding is everyone even in U.S. is ready, but we should be cautious, yet positive. Make sure you have a plant that includes taxes and income.

Pam – ty Tony, as I know you don’t feel well. You too, DC…and I hope we have Tony time this weekend!

Ray – enjoy!

T – Banks geared up, everyone being told this is it. We don’t know when, but we’re told the weekend is the BEST time.. They are still telling their people it is imminent. Announcements came out that they have agreed to let the Central Banks be on their own, and I don’t know if you saw that or not, but it is very positive. They don’t want to look like idiots only to say they are ready and it doesn’t happen again. Abadi looked them in the eye again and said, yes. DC says there is an honest effort to get everyone exchanged and obvious reasons it hasn’t happened yet. As long as it DOES happen, we’ll keep our end and they’ll keep theirs. It IS scheduled to happen this weekend, and I hope it does. Until then enjoy your day, and if anything significant happens I will do a tweet or a call. Enjoy the rest of your day.

END OF CALL

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