TNT – Wednesday

Tony: Good morning, TNT! Today is Wednesday, January 7, 2015. Since Ray is not
here today as he is attending a funeral, there is a noticeable difference – Pam just
refuses to entertain you guys! We are still here where we shouldn’t be, but we have
good news. Things are here better and sooner, and DC will tell you all about it!
Everything is really good.

After every one of our calls, every other board will have something to day, whatever the
reason. I don’t mind that, because they can go out and verify what we said, just as we
do for their information. I have explained this so many times, even at a fifth-grade level
– how this is working, fluid, constantly changing depending on what’s going on in the
world. We don’t control this! I don’t’ get to decide when this will happen! What we do
get is the schedule they are being issued, and when to expect some action, plus the
updated procedures. We don’t’ always give it to you in the moment, but we do
afterwards. I did say that it is scheduled some time this week, and it still is, but last time we gave an exact date, they blamed US for messing it up because we told everyone
and they expected chaos. So now we just give you a window of opportunity. There is
definitely a schedule, but I don’t know if they will meet it.

The tweet I sent out yesterday about it being this month, people got back to me and
said that Iraq wouldn’t say that. Well, they said it would be done by the 1st of
December, then the 15 th, then the 1 st of January. That is their government telling their
people. They didn’t live up to those dates, and they are making themselves look bad,
but at least they are announcing it and trying to get it accomplished. There is a new
timeframe, and there is good news today for those who want to learn and follow along.
We give you this information from our own sources, not some idiot that think he knows

DC: It’s miserably cold here in Texas! I’m going to organize our thoughts around the
completion of the amnesty stuff, then east to west. We did get confirmation that after
the third revision and a minor update on Monday, they did finish it up and everyone is
on board with that. They also used that time to work on timelines. Iraq wants to do it
NOW, and everyone else talking and getting everyone onboard – countries, central
banks and the regular banks.

Tony: We go the information that at least 30 countries have agreed to that timeline.

DC: East to west, they finished the second reading of the budget and that has been
broadcast on Iraqi television and al-Jazeera, with lots of commentary. That is squared
away, and they are very much expecting it with this. There has also been talk about
implementation of the budget since last Sunday. The senior Iraqi politicians are fit to be
tied to get this done; they see the amnesty issue as petty and annoying. They are
getting everyone geared up, with finance ministers and CBI saying “go, go, go, go, go!”
Those notifications have gone out from the CBI to PM Abadi, IMF and BIS. They are
saying they are free and clear to do this when they want to, and everyone needs to be
ready – that is not just to Iraq but also international bodies and central banks. They are
quadruple-checking they don’t any another amnesty deal, and all of Iraq believes it’s at
any moment from now on. They consider themselves ready to go, and their central
banks have been accepting dinar credits internationally since Sunday. In the US that is
starting back up today. Countries outside the US have started on Sunday, and CBI is
giving them credit.

That is the exact process we will be running on. Joe Blow hands in his dinar, they are
sent to the US Treasury, and they are credited at the CBI. This is going on

Anbar province is looking better; the tide has turned on ISIL and that helps many
aspects. There is good intelligence work going on, and everyone believes that in Abadi
and his inclusive government. That’s what we have so far on Iraq.

Tony: The second reading of the budget has been approved and they are broadcasting
on their television HOW that will be implemented. We are waiting for two things –
either third reading and implementation, or simply a vote and it will be implemented.
The banks there and here are geared up; they got their briefing after our call on
Monday. They got the date and time they think it will be implemented, and also a “no
later than” date/time. ISIL is under control. Here is the big question: is what is
happening in France anything to do with this?

DC: It is an issue, but an isolated issue that has been simmering for a long time, i.e.,
the incursion of Muslim immigrants around Paris…
In the USA, we are one of the 30 countries who have agreed to the schedule. They
have tweaked the bank plans, and they are briefing the US-controlled banking entities.
Banks have been briefing their own employees over the last 36 hours, with guidelines
and adjustments to the plans. Some are using new people, and others are moving folks
around. Each bank has been prepping and ramping up for this. The UST is supportive,
with law enforcement ramping up as well in the last 36 hours, getting everything ready
to go again. Does the changing of the guard in the senate change anything? Not
really. If anything, it might help a little bit. It’s always worked better if there is some
competition around investigations or proving themselves better. Both Reps and
Senators have told me that, and it’s about “we’re all in this together” rather than fighting
each other.

Tony: You will hear many different bank stories and proposals, and some are
ridiculous. I don’t know what’s true and not true; don’t pay attention until we get the
package and find out what the real procedures are. They are changing this every day.
We know what is going on in the banks and the government, and who’s doing what for
which reasons. We’ll just have to see how it plays out. If we find out it’s real
information, before we are asked to do our part, we will talk about it. We will never do
anything to hurt you guys – we will not be part of that.

707 caller: I’ve been on since midnight, 641 minutes! I’m a newbie, and I want to give
a shout-out to those who have been listening for years! You know every scenario since
last June… As a newbie, these acronyms are a little challenging for me: SKRs, TRNs,
etc. If you mention the meaning from time to time, that would be great. Also, it makes
sense to me that 85,000 have exchanged; somebody has to justify that money! It’s like
an advance that people are being paid, like the banks know that this is good money,
and they will get it back. I don’t see the benefit in the banks doing that… How? Why
are they getting paid and we still have to wait for all this bureaucracy?

Tony: How are they getting paid – how are they chosen one? And why would the
banks take that risk? [Caller: #2]

DC: Bankers aren’t stupid or risk-takers, so they only do this because all their ducks
are in a row. They are getting credits from the UST and the CBI. Let’s say you are one
of the ones going through. You hand over your currency to the bank. The bank gets
credited at the US Treasury (and any oil credits, if China is buying your currency) and
the CBI also checks the serial numbers and credits you, the UST, and China (if
applicable). The banks know that this is or will be hard currency. Last year, this was all
done with forward-based contracts, not actual credits. However, since last Sunday, all
the international banks are getting real credits. Also, the banks are getting money for
doing this! They only pay out a portion of this, and they get overnight credits for the
money they retain. Plus they choose the customers they wanted, in advance, and
choosing their portfolios. They did it because they were getting something for it, not out
of the kindness of their hearts… but that is why the banks are there, to make money.
So they were willing to take a little bit of risk for a lot of reward. [Also, they get 2% as
their fee.] It was a business decision.

Caller: So ALL our money is good!

Tony: Yes, it is all good, but when will it be good and who do I want it to be good with?
The banks want to cherry-pick their customers to choose those who will stay with the
bank and let them make some more money. How do they pick them? DC knows…

DC: There were some remaining political/banking connections from a year ago that
didn’t want to take SKRs or forward based contracts. They are going in now. The
majority of those folks were picked by wealth managers who were cleared to do so. The
vast majority of WMs have no clue and were told this was a scam. A few were told that
this is real, and they had the right connections with big dinar-holders, like in Atlanta. We
have not figured out how to get on that list; it’s very difficult to do so. Calling the bank
will not help at all. You have to have a connection to a WM who is doing this.

Tony: So only selected banks, selected WMs and selected clients know about this, and
it will continue like that up until the time it goes public!
Caller: I finally got on when I realized I had to put my hand up by pressing #2.

828 caller: A few weeks ago, you mentioned that you would NOT be writing ‘all rights
reserved’ over your signature; please explain the benefits or otherwise…?

DC: I’m not an attorney. I don’t see any advantage, and it gets you into all sorts of
issues that I don’t want to get into. It’s about how the contract could be changed, and
where the bank could put the money elsewhere. The primary benefit I have heard of is
when people don’t’ want to agree to ongoing NDAs or contracts; they are trying to give
themselves outs, but I don’t see the point.

Tony: They are signing the paperwork now in order to get paid and don’t want to have
that changed without their permission.

Caller: What is to stop politicos throwing the next issue in for further delays?

Tony: I said it is SCHEDULED to happen in the next week, and there is nothing to
prevent further delays until someone says “enough” and is willing to force the issue. If
someone keeps hitting you upside the head, they will carry on doing that until you force
them to stop. We hope that this is it, and in the last 24 hours, they have started ramping
up again. Unless they are lying and getting them to do that for nothing, this really is it.
There is a new power-sharing agreement in DC as well as Iraq, so this may be
different. Now people are in position to make certain things happen now; they can be
guaranteed approval now and they weren’t before.

Caller: Who has the power to say no to any further delays?

DC: Only the US, China, the UK and maybe a few others have the power to cause
problems here. We have been watching the Big Four to check what they are doing.
Right now, if anyone gets in the way of this, the price would be extremely high. There
are some very smart people who want to get this done, and they see through BS pretty
quickly. There are elder statesmen in the US, IMF, BIS, the UK and Iraq who have
seen every sort of baloney and they are not putting up with more delays. If you want a
delay, you’d better come with the best argument possible. In the US, everyone is
playing together a bit better, and more concerned about potential investigations and
issues that might screw up legislation that they want to get done in the next two years.

Caller: What are the chances you’ll have to do a regular call a week from today?

DC: Slim. Everyone is so desperate to get this thing done.

Tony: There is a timeline, and they are gearing up to go right now. Iraq has told their
people on television right now, and the chances are very high this will go through. It
should have gone through the last four times! I’ve been so positive this is about to
happen, I haven’t asked for support on the bill, hoping we could just squeeze through
one more call. I hope we’ll hang up this phone and I’ll call you back in an hour. It is
scheduled for this week and I do hope it happens!

202 caller: If you have money in reserves, is it still the case that you can’t use
exchange money to pay for those reserves?

Tony: If they tell me the rate is $3.58, I’ll just exchange at the international rate, redeem
my reserves, and exchange those at the international rate. [DC agrees.]

415 caller: You’ve said the banks are concerned about people just going through their
money – why should they care?

DC: Banks don’t want people to burn through their money like with lottery winners, and
also they prefer long-term customers with lots of money, because they make it back in
fees. They don’t want a fast burn of cash, so they want to spin it out more slowly. They
feel they are protecting those who aren’t prepared for this windfall.

Tony: That’s a great answer, DC! The banks are in business to make money. It’s not
their job to protect you from being a toothless crackhead – they just don’t want to be
part of that. There is no benefit in it for them to set up your accounts for 30 days. They
want you to invest the money so they can look after it in the bank. It’s the government
that thinks you will blow it all; have a plan and prove them wrong. Show them that you
are not succumbing to lottery winner syndrome. Banks are not trying to protect you,
they want to make money from your money, long term. Business is business.
This is what I tell Pam all the time: I accept everyone for who they present to me until
they show me who they really are, and then I learn to live with them. The same is true
here. You cannot live without them, so learn to live with them and what to expect from
them. Then go on from there. You’re not going to put that money in the mattress; you’ll
have to deal with the banks, so figure their role and your role in this.

303 caller: A previous caller asked earlier, can you exchange what you have in hand
and use that to pay off your reserves?

Tony: People who have already exchanged have been told they cannot, at contract
rates. However, street rates are okay.

Caller: I’ve been more anxious since you said that possibly you won’t be able to share
the 800 numbers or even make the announcement. What info can you share with us?
Will you be able any kind of directions about where to go?

DC: So far, I gather that tony and I will be able to say Goodbye, and there is the
website with the 800 numbers. That is the least we’ll be allowed to do. Some would
very much like us to continue as a clearing house, and give a rundown of what is
happening at this bank and that bank. They want us to do that, but some UST people
don’t care for us too much, so we’ll wait to see how it flushes out.

Tony: DC has seen the NDA; I have not. So I don’t know what we will be allowed to
do. At least we’ll be able to notify you. They will tell us early or someone else will give
me the information, and I’ll send it out. I think they’ll let us give you directions at least.

Caller: There is talk of the dong being devalued; any impact on the RVed dong rate?

DC: You’re probably paying attention to some international new sources, right? The
classic economic deal is that to increase exports you decrease the rate, so that people
will buy more. The Vietnamese government wants to go to a more consumer-based
economy, where they use more of their own goods, and a revaluation will help with that.

Caller: I’d like to suggest that whenever a release date comes up, you advise of it and
let us go to our own devices of whether we believe it or not.

Tony: If it doesn’t happen and we have a Friday call, I will do that then, okay?

Caller: DC, I’d like to volunteer for your museum and keep in touch with you and Pam.

DC: We’d like that. The NDA might get in the way, but eventually I think everyone will
need to study this. Just like a war, we need to understand this from all sides.

281 caller: I know you don’t known specifically yet, but we still hope we’ll get 800
numbers – is that we are looking for you guys to be given?

DC: Whether it’s an 800 number or a website, we are expecting some information e
can give you to get more instructions. Before we thought one bank would handle all
calls, but now each bank is handling its own appointments.

Caller: I have a bit of everything – will we need 800 numbers for dong and zim? I know
dinar we need appointments, but can I just do the zim and dong at the bank?

Tony: Regardless of this being an RV or not, banks have limits.

DC: At one phone call, you can set up one appointment for all your currencies, and you
tell the operator how much you have of each one. I would encourage you to make at
least two appointments, in case of accidents. You want to be able to walk away from a
bad situation and not lose all your currencies at once. Also, banks have ratios they
needs to keep for regulators, etc. Tier 1 ratio is about how much money they have on
hand; also deposit ratios are key. They want to balance loans with deposits, and that
will cause havoc with a lot of bankers if they just put lots of money in checking or
deposit accounts. They want to put money directly into investment accounts. Smaller
banks especially have issues with their balance sheets with the Federal Reserve. Let’s
say you have 100 million dollar and you go to a local bank – that will screw them up
because they don’t have the loans to balance that out.

Tony: Nobody in that bank can do a million-dollar transaction; they are not qualified or
authorized to do that and they will have to go through a certain procedure at that bank.
That’s why they set up exchange centers with people who are authorized. Now the
banks are doing it individually. One bank has to accept everyone, but you might want to
have other appointments at the other banks because you don’t know if they want you or
what they will offer you. There are no guidelines, and it doesn’t make sense!
Someone will end up paying tor this.

Caller: Do you really think this will happen before the end of January?
Tony: The tweet said that, and it’s true, but the dates I have are way before the 31st. In
Iraq, they say this is getting ready to implemented and this is how it is going to happen,
just not when. If it hasn’t come out by Friday, I will tell you the schedule then.

301 caller: I was reading about the budget law, and I heard that Abadi had a meeting
with Parliament today and will have another one tomorrow. In the s3a group, they said
that there is a green light and people are starting to celebrate in Iraq now. ISX is
supposed to be back up by the 11th, so from now to then is a good four-day window.

Tony: We were told last week they wanted 3-5 days before ISX opened so that
everyone has time to get used to it. We were told that they are having a third reading or
a vote and implementation today/tonight. Even if that happens, it might not be OUR
timeframe. Some are saying we don’t see it until next Monday.

DC: The ISX is the Iraqi Stock Exchange, like the Nasdaq. The prices for the stock
market has to reflect the revalued currency, so they have become active participants in
the Forex market – they have to reflect the live rate of the dinar. They want a lot of
people to be exchanged so that they can have confidence in the ISX. They wanted it to
be the 1st, and now they want it happen before the ISX reopens on the 11 th. They don’t
need that budget reading to do the RV, they just need to notify the right people, and
they started that last Monday.

Caller: I don’t read everything Mtn Goat says – it’s too long – but I skipped through and
that person said even if they pass the budget today, there is still an issue with Anbar
and that won’t be resolved until the 20 th. How can they hold this until then? Or does it
have to happen by or before the 11 th.

DC: I don’t read those posts because we have our own sources. Yes, Anbar is an
issue because of ISIL and budgetary problems as a result. That’s a constant issue. Dr.
Abadi has been there recently, and also had meetings with the government of Anbar to
get security agreements lined up. Much more important is the agreements with the
Sunnis, and they have focused on those agreements this last week. There have been
interviews with PM Abadi and Sunni leaders who have reaffirmed that they are on
course – that they are part of Iraq and staying with Iraq.

Tony: Also, that doesn’t have to go for this to happen. There could an RI and then an
RV, and it could be separated by up to 15 days. When you get information, you have to
pick out which parts are right. We don’t have all the information, and not all our
information is 100% right either. There may be an issue in Anbar, but it might get sorted
out faster than we think, or they might do an RI anyway. I’m not saying the information
is wrong, just that things are changing all the time.

954 caller: Have the contract rates been altered by the latest events? Also, Mtn Goat
said that the UST balking at using their connections to allow the RV to transpire… but I
did hear DC say the UST is on board, so…?

Tony: The fact of when it happens? I think the rates and percentages are set.

DC: After the amnesty deal was worked out, the UST said that they are supporting the
RV again as well. They signed off on that as well.

602 caller: You say we are supposed to be able to leave the money in the bank; will
we be penalized for taking money out to buy a business or whatever?

Tony: I don’t know what percentage – 10% before taxes, after taxes – we hear that it
might be negotiable, with a higher rate if you leave more or longer… we don’t know.

DC: I have other businesses to start and things to get on with, so I probably won’t leave
much in the bank to let them run it. That is an issue that has to be addressed. I gather
that each bank can make up their own mind about that, so we’ll all have to consider
what they offer and work out if it is beneficial to us.

Caller: I talked to a Wealth Manager, and she was excited; she also said we have to
set aside this amount for this, and that and the other thing. I do want a job after this!
Have you heard if the rates have changed?

DC: Dinar seems to be $3.87 at London (interbank), but on the cards in Iraq they had
$3.58, the international rate will be somewhere between those. I’m betting on the cards.
Dong is $1.02, rupiah is $1.05, and I’ve heard three different answers for zim and they
are all phenomenal.

Caller: If it goes this week, will it be an RI or an RV? And at what rate?

DC: I think it will be an RI at $3.58.

615 caller: We’ve been expecting this for over a year now; I’m concerned they will
keep kicking the can until they exclude us from this. Is that possible?

DC: Anything is possible, but I think that’s unlikely because a ton of people have
already exchanged, Iraq has spent ten years setting this up, and every US politician
needs this really badly. It’s going to happen, we just don’t know when.

Tony: Really? Only a year? That’s all you’ve been here for??

405 caller: One reason they are postponing this is because they will be out of loopholes
to get their money back – until they don’t have to pay taxes. I only have 100K; I’ll pay
50% in taxes and pay off my house, and then I’ll be free and clear.

DC: That loophole has already been fixed. Most people who have already exchanged
will have to pay taxes. Only a few got off the taxes.

Tony: Most people who only have 100K will get about $350K. You can buy a luxury car
and your taxes, and the money is gone. You can pay off your house, and then keep
your existing income to keep paying your lower bills. OR you can take that 200K, find
an investment vehicle, and use that income to pay down the bills and have extra money
to live with. That’s another way to look at this. Unless you put the money to work first,
you are throwing away your future.

Caller: I don’t have much dinar, but I have a lot of dong, and it’s all in hand, no
reserves. All I want is enough to build a house. I want everything I owe to be paid off.

Tony: A lot of people have only 100K, and that can change your life if applied correctly.
If that plan works for you, that is great. Your plan is your plan; I don’t know what your
end goal is. If you’re happy, I’m happy for you.

754 caller: [Appreciation] Will the dong be in this round or not? I have dong only.

DC: We believe it will all go at the same time, even if the GCR is later. The banks want
to get all the money in before the next change, to stop the double-dipping. We believe
each bank is handling its own appointments and hope we can give out the 800

985 caller: What a pleasant surprise to get on the call. DC, you said something that
concerns me – you said there was a slight possibility we will be Xed out of the

DC: I honestly don’t see an option where they could pay out a ton of people and then
not let us exchange. That would lead to political chaos and a giant clusterf**k. People
may be acting in ways we don’t understand, but it’s next to impossible to pay them and
block the rest of us. I believe we will get paid quite soon, as soon as the Iraqis get paid.
I don’t know how much is still available as to the contract rates, when/whether or at
what rate.

936 caller: You say you don’t have the packages yet. Are we going to call each of the
banks to create extra appointments? Also, how early will you get the package?

DC: That is part of what they are trying to work out. Most people are going to
comparison shop – I am!

Tony: Of course, if you call the different banks, that creates competition among
themselves which is better for the consumer. But the ones who said they didn’t want to
deal with those below five million, they will get millions of calls from those they don’t
want because nobody knows which bank will handle which customers. They will have
people not showing up for those appointments and they creates that problem for

As for the packages, if it were me I’d tell the gurus at least a day in advance. I don’t see
how we will get a call 15 minutes before or after the announcement, get the training and
do the information calls, when they also want people in the banks within two hours. We
want to help so there isn’t all this confusion, so ideally they would bring us in
beforehand so that as soon as they announce the numbers we can help people right
away. As soon as this happens we’ll know about it, we have so many contact
internationally and in the banking system – we don’t have to wait for the official package
on that. It would make sense for us to get ready beforehand… not after it occurs.

Caller: Have you heard anything else about taxes – flat, capital gains, 11% or 22%?

DC: Those are proposals that have been floating around, but still not totally decided
unless you have a contract that has already been negotiated with the US Treasury.
That’s why people have to be prepared to set aside the full ‘earned income’ taxes. On
some contract rates, that has been negotiated or at least discussed. What we have
heard the most is that long and short term capital gains taxes will be applied.

Caller: What about the rumor that banks will withhold taxes…?

DC: That is a bank-by-bank play. The dealers and exchanges are not set up to do that
and they won’t do that; they don’t care. Some banks who want a long term relationship
are making that part of the deal, that you’ll set aside some for taxes and they manage it.

Caller: If they do hold that back for taxes and the bank goes south – will the IRS go
after the bank or us?

DC: It’s your responsibility. The IRS doesn’t care if the bank goes bust. If they force us
to pay taxes like that, it’s going to be a mess anyway. Hopefully we will get the package
AND the announcement in the next day or so.
Bottom line: it’s freezing in Texas. We believe the amnesty has been squared away.
Iraq is notifying the CBI and international banks and investment houses that this is
happening; we are able to track that throughout the process. The central banks, the
Fed, Bank of England, UST have all been notified, and the banks are gearing up ready
to do this. It’s not absolutely done, but they’re making a valiant attempt to get this
done. We hope this is finally it!

Pam: Neon light at the end of the tunnel – hopefully this is it! Bring it on! It’s wonderful
wealth-seeking Wednesday!

Tony: That’s all the information. There is a timeline. They completed the second
reading and we’re waiting on the vote today or tomorrow. There is a timeframe they are
looking, and the Iraqi people are excited about the implementation of the budget. It’s an
excellent time to do this. They are briefing people on their television today. I’m sure we
will get a lot of information after this call, and if something super-fantastic happens, we
will tweet it out and put it on the forum. Enjoy your day!

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