TNT – Tuesday

TONY – Good morning, TNT. I’m in the studio with good friends in Wilson, NC at the same studio. We’re ready to go. Let’s get started. We’re an hour early. We already have 6,000 on one line and 14,000 on the other and that’s due to Pam having another commitment.

PAM – Today is Tuesday and we never do calls on Tuesday.

T – Lot of good things happened over in Iraq and we want to talk about them and discuss why we’re on this call instead of at the bank. And we have an answer for that.

DC – Starting with Friday: I’ll explain where we are and then Tony and I will debate the pros and cons. All this info is NOT single-source – it came from many different places and angles. We’re just putting it all together.

DC – East to west: After the holy day was over on Friday they started building for Sunday celebrations. The Central bankers and key banking trainees from the CBI went out to the markets, stores, etc. to walk everyone thru the info as to what it will look like and train everyone. This wasn’t just CBI but all the major financial players.. There were a lot of trainers throughout Iraq starting on Friday evening. They worked with bankers, reception folks, hotel people, telling them about the LDs, what they look like, what they need to do. This was a refresher course throughout the country on Friday/Saturday.

T – Let’s start with Friday morning, why they were doing this.

DC – On Friday morning they announced in the mosques the GOI was complete and the currency was imminently changing soon and there would people to help them with the transition. They were getting everybody prepared. That went out throughout the entire country on Friday morning.

T – Their bank memo said “48 hours” specifically on Friday.

DC – Right, and that was said in the mosques and they put out “fil” 25 cent coins with the anticipation it would be revalued. They all reported back to the CBI that they were with the training and ready to go. On Sunday morning they had a military parade, talked about their successes and currency now being int’l. They told those who had coins they could use them as well as the LDs. This occurred on Sunday. Calls from the US were being blocked, it was a news black-out. But this actually did happen. Now, they’re sitting around frustrated yesterday and today. because they are still waiting. On Sunday and early Monday congratulatory letters and calls from across the world went out to Iraq at all levels, Abadi, Jabouri, Turki, et. al., congratulating them. During this time as well there was a lot of US to Iraq and Europe to Iraq calls. Those all occurred Sunday thru Monday morning.

DC – In Iraq they anticipated the fils (coins) would be ready for everybody to have them. Right now they are worthless without a revaluation. It’s been pretty quiet since then and now everybody is wondering what’s going on? The intent is after it goes thru nobody will care if it was a little late. Basically Iraq is sitting on a bizarre edge, saying “we’ve done all that stuff, now where is it?” A lot of very good targeted hits were very successful. The Iraqi forces and Kurds are being very successful in stabilizing the ISIS stuff. Much of what you see on the news about ISIS is Syria-based. Their strongholds are in Syria. I think that’s all about Iraq.

DC – Ukraine has been invaded by Russia again. Putin and others have raised the rhetoric quite a bit. Everybody is highly concerned about all that and it’s a major issue. The same players are involved in the RV as here: China, USA, a lot of NATO countries, so it’s been a distraction. It’s a horrible thing for Ukraine but good for Iraq since the focus is on Ukraine.

DC – The UN Security Council is excited. The banks are geared up. We have 6 different sources that everything is tested down to the lowest levels and all is ready. I see this as a positive. The UST is on board and is being supportive helping the banks get ready. The Admin folks have been preoccupied with other issues around the world. Our understanding is that there are timelines given from a little while ago, where they’re on a 2-15 minute PULL TIME. There are only about a dozen people who know the real times. We understand one set of times have passed and there are 3 others and in place. It is extremely close and yes, someone can screw this up. The groups of times are being coordinated by Turki, Abadi, LeGard, etc. Some countries are trying to put their agreements in for the time best for them. But We have 3 more blocks of times in the very, very near future.

T – Iraq has done everything and officially given notice. It was released to the BIS and IMF.

DC – Right. They sent it out to the rest of the world and they are ready to go.

T – Iraq officially released it to the IMF/BIS. They’re done with it. IMF sent out an official notification.

DC – So the IMF and BIS got together (they work together). The IMF is the facilitator. The BIS is the more the technical side of things. They run the systems and put together procedural notifications. They both agreed and put it out thru to the central banks of the world. We got this from 5 different sources. It’s throughout the entire world right now with an IMF/BIS HOLD. There is a 2-15 minute window capability the IMF has to release it.

T – The plan was for this to be released over the weekend. The banks were notified. Today was supposed to be the whole world and everybody was geared up for that process. Then there was a phone call.

DC – Right, there was a call between a few world leaders – you can figure out who – that because everybody was getting back to work after the long weekend, they reasoned and argued for a later window. My understanding is that it was a very open discussion: everybody is ready, but can we not do it in the 1st spot but one of the other spots (timelines). It was agreed by all on that call.

T – Three times last week Iraqis were told they were going to be rich. It was on TV, radio, in the mosques, etc.

DC – Abadi is not a crazy man because of the delays. You don’t start out your new job messing up. But now there are very little delays and those are costly. There is very little that can screw this up. They are all playing a bit more honest and straight-forward.

T – We know the Qi Cards are international at a rate of $3.71 on their cards. They can use them. We have this verified from 3 different countries and they all came out at the same rate (Jordan, Turkey, and one other).

DC – We also have several different personal contacts who have been waiting for so long for this to go through, ordering products, doing investments, ordering huge equipment orders. All 3 of their purchases went through today at the revalued rate. This could NOT have happened unless it revalued.

T – We have confirmations from 4 different banks here in the USA over the weekend that the rate was different from the 3.17 but they all had the same rates and they are 1 level from the street. It was ready and prepared to go this weekend. It just didn’t make it to us. It was on the street level and they turned it off.

DC – Our understanding is that our part was not completed. It is international but everyday people on the street don’t have it. Hopefully this gives a clear picture just how close we are.


C – Is the rate live in other countries?

DC – Depends on what you mean “live.” Folks are conducting business on 3 different continents. But the regular Iraqis don’t have access to it yet. If an Iraqi is in another country they can use their Qi Card. But they cannot in their own country. They do have access to 3.71 if they purchase on the internet.

C – So, It seems quite suspect they couldn’t anticipate problems on Labor Day? Was there a valid reason? Can you give more insight?

T – We are here to get info to you and support you through this. It was never our goal to make our gov’t do the RV or to make it happen. But common sense will tell you there’s more going on than we just hinted at: personal reasons or political reasons. We got calls this morning again to burn it down. But that’s not our reason to make them do the RV, but make sure we get treated fairly. So what you’re asking right now is to give you the reason – to burn it down – but we’re not going to do that.

DC – There is one smart group in those meetings who are saying “yeah, right. Labor Day has been around how long?” They knew full well what was going on. IT was the right move by Abadi to stop it. They are in a nice change and they would like to keep that up here at the end. It’s up to them. not us. We can’t come on and say details when those 5 people in the room know the details.

C – You mentioned Plan A and Plan B in the past. Are we still under Plan A?

DC – Yes, because they did everything they were supposed to. It is my belief they will execute under Plan A in those tight windows we spoke about it. We have pushed past a lot of things people could get hung up on. If somebody really waned to be an idiot they could have don lots to screw this up in the last 10 days and nobody did

C – Do you still feel that when this is released that bank-updating timing will come into play?

T – No, that’s already been done. The system is complete with 5 minutes’ notice. Hopefully this is the last delay. I don’t know how long they will allow them to do this.

DC – My understanding is that the USA is still being supported technically and procedurally for what’s going on. Their interference has subsided. There were lots of options to do that earlier but not now

C – Any updates on the packages?

DC – The last update I got on Thursday was that the group that didn’t want us to talk won and we most likely won’t be getting the packages beforehand. We will probably be able to do one phone call but we’re not sure how much we will be able to give you.

C – Can you address the ZIM and the lop?

DC – We have heard from 6-9 and all from credible folks so we don’t know what. It could come out really high early or it could be a 2-stager and do 8 or 9 literally. The initial stage is it will come out with the dinar.

C – What question would you pose to DC that hasn’t been answered or explained thus far?

T – If you had a window of time, what would that window be?

DC – I don’t know. I truly have no idea. The assumption is it’s extremely tight. Why would you get everybody this close if it’s weeks away? That’s just an assumption.

C – So once it’s gotten to the 2-minute mark and triggered, can it be stopped?

DC – Our understanding is that if a country decides they’re not ready after it’s been triggered, they can put a hold on it but the rest of the world will move on. A lot of the stupid moves / sabotage have been behind the scenes and those have been removed. By allowing everything to get to this point the assumption they will accept the rate and timeline.

T – Remember, they already got congratulatory letters from around the world.

DC – Let’s say a bunch of countries have sent congratulations and the time stamp on that letter was Sunday or Monday morning. If that country doesn’t accept it it would be a giant egg on their face. Everyone is playing ball like they are supposed to.

C – So when Abadi went before his people what did he tell them?

DC – He told them come get your money, but now he has egg on his face with the expectation it will be cleared off quickly.

RECAP: DC – Bottom line is that everything looks good. Everybody is on call and playing well together. The rough politics seems to be behind us. We hope they will finish this up very, very quickly.

T – There are 3 options/timelines left. It is on teller screens again (1 level above) and it is a higher rate than Iraq. We are 2-15 minutes once they activate. All the other currencies are ready. I don’t know if we’ll be able to do calls or not. It’s a short week and we will do another call on Thursday if we need to and go from there.


2 thoughts on “TNT – Tuesday”

  1. Tony & DC seem to be honest people but are obviously not connected to the real decision makers based on their “Happening any second hype” for the last 12 months. Do you think we should tell them or just let them continue to use up precious oxygen? You decide.

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