TNT Call notes 31-August-2015

Tony:  Good morning, TNT!  Today is Monday, August 31, 2015.  Let’s go right to the news and then let some people talk.  If you have been on the last couple of weeks, except for 404 (who happens to be the first caller), please put your hand down because we would like others to have the chance to ask questions.  The same way you  put your hand down is how you put it up… voluntarily.

ON Friday and Saturday, people though we were actually having the RV.  People were on alert, and they are today.  Lots of people have been in the streets all weekend in Iraq – we have the pictures – and that’s probably what it will take to get this done.  They have been talking about this and making promises, and they will have to actually do things about this. They said last week it would in the next two days or next week.  So far in Iraq today they haven’t heard anything, but they have votes and meetings scheduled for tomorrow.  I’m still looking for a good week in Iraq.

Here in the US is the same thing:  everyone is ready to go.  We are just hearing now that last Thursday Iraq was given the green light to go when they want to go, and that’s why everyone assumed it would be Friday or Saturday.  We naturally assumed they would do this as fast as possible and it would happen, but it didn’t.  We still expect it this week.  Banks have a plan in motion for some time this week. They briefed some people over the weekend on timing, schedules, who is to be paid first, second, third, and that has gone to another level.  In Iraq, as soon as they feel it’s the right time… I think it’s getting worse and worse, myself… but now their big concern is security and chaos with the protestors.  I would think lining them all up at the bank, and then have them buying cards and TVs, that would quiet everything down.  There is a plan for this week, and everyone wants to get this show on the road.  Everyone is still ready to go, and everyone is still excited.

Certain things have to be completed in the market, and we expect that today/tomorrow. I’m very positive. The numbers haven’t changed.  I don’t know what else I can tell you, except that it is going to come out in stages. That’s okay, because we are part of the first stage.

404 caller:  [no response]

248 caller:  OMG, I’m second!  Last time I asked about other places to get information because I cannot get on the forum.  Some links were sent out through Dropbox and I have trouble opening them now.

Tony:  I don’t know anything about that or how it works.

Caller:  I have a thousand dollars worth of dinar, a million dinar, and that’s a super-steal. How does that happen, that I could get it at such a good price.

Tony:  The dealer bought it from Jordan or wherever, at whatever rate they could get, and they sold it to you.  Dealers gets a different rate, and they sell to you at a profit – that is how dealers make money.  Your buying currency doesn’t hurt anyone in Iraq.  Our buying dinar actually helps Iraq with their currency exchange and hard currency reserves.

352 caller:  What happened to you last week that you called yourself ‘happy’ for the first time in five years?  Why aren’t you happy now?

Tony:  I was supposed to go to the bank at 3pm that day!  I am actually happy with all those details I was telling you all.  I am hearing a specific day when things are supposed to start, and how it’s supposed to go – this person, then that person, meaning many people.  They have tried to do this, and everyone is frustrated because they keep laying out the plan and telling people not to go on vacation or more than 30 minutes away from home.  People are tired – they are just tired – but they also see the pictures of millions of people in the streets who are tired of hearing it and not seeing it themselves.  We are now at the place of “please, someone push the Go button before something worse happens.” The flame is getting closer and closer to that powder keg, and they are not listening.

Caller:  There seems an endless stream of excuses, such as Greece, Iran, and ISIL;  this week’s excuse is that we can’t go until the Anti-corruption Laws or National Guard Law.  Those have already been passed, so far as I know!  If that is what we’ve been waiting for, they couldn’t have dealt with it back in April or June?  I think people are looking for some other thing they can point to as the reason.  I think people are uncomfortable with those they want to trust to see this through.  Now, everyone met a week ago and Iraq was given the green light, but they didn’t, and then things change again.  I’ve been saying this for 18 months.  Someone needs to just push the button right away, instead of giving 24-48 hours for someone to screw up or have second thoughts.  They did have to put  the laws into place so that when this huge sum of money is released, it’s not just going to go into the hands of the mafia (for instance).  The laws have been passed;  they have been agreed upon, but not implemented. The people in the streets are agitating for that – they want them to actually take action.  They could come up with more of these laws every day, because this person wouldn’t quit, or that MP is talking about resigning so another person can take his spot. I think they should GO and then enforce it.  They don’t have the penalties for corruption because they’ve always had that.  Iraq cannot wait for every little thing because they have been waiting for too long already.  People are getting upset;  their economy and our economy is being affected, and they cannot stay on the brink for any longer.

I’ve had calls for years with the person wanting to sell back their dinar, or their spouse wants them to sell it, and I always say NO.  Whether you realize it or not, this is still your future.  You can throw it away if you want to, but I’m going to sit here until something I KNOW is going to happen actually happens.  I’m going to wait!

Caller:  Let’s hope we have patience and don’t run out of money waiting.

313 caller:  I’m just waiting – it could happen any day, right?

Tony:  It could happen any minute, any hour, any day, although from what I’m hearing, I don’t expect it today.  I am not going to give you the date and time I’ve heard, because then I get complaints afterwards.  I try not to affect the situation, so that they don’t dig their heels in and refuse to do it then because they don’t want me to be right!  I do feel confident about the timing and the plan and what’s out there.  I have a higher level of conviction based on the meetings last weekend that gave Iraq the green light to go.  We have heard that before, and it didn’t go.  But tomorrow is the start of a new month, too.  Nobody knows why Iraq hasn’t pulled the trigger or what we are waiting on, apart from the people at the heart of this process.  Nobody is fighting, preparations are being made, the system is tested, a few people went to the bank over the weekend and there were live rates… so none of that is the problem.  And yes, dong is still in the basket.

404 caller:  Have they told you the steps that constitute the green light and how many people are involved in that?

Tony:  Five people met last Sunday, all were in agreement and the green light was given.

Caller:  Bond sales have been extended through September – does that have an impact?

Tony:  Nobody is buying the bonds because of what is going on in the streets over there.  Until someone does something, until they change the rates and get the people off the streets, nobody’s going to buy Iraqi bonds.

Caller:  What about the revised credit rating for Iraq?

Tony:  Once the RV happens, I think that credit rating will change as well.

Caller:  You say the banking system is on high alert – is that everywhere or just the US?

Tony:  The banks were open in Iraq on Saturday, because they thought this would go, and then they closed early.  The banks here are on high alert, told that this will happen this week.  So this is a worldwide banking situation.

Caller:  Vegas, Vegas, Vegas!  May this happen this week!

410 caller:  I’m glad everyone is excited and that you see the end of this.  You mentioned this will roll out in stages – what do you mean by that?  You said we will be the first stage – do you mean the internet group?  Or all the dinarians?

Tony: They look at Dinarland as being us and the legitimate groups, and we will all go at the exact same time.  They will process them differently, because the groups have so many levels to go through before people see their money, while the rest will see their money in their accounts when they walk out of the bank. There are different ways they set their appointments, larger and smaller accounts, and how they move people might even go by regions because of the timeline. They may break it down like that.  I cannot tell you exactly because again they would be mad.

Caller: So I suppose that there are other things going on in the banks because of those stages.

Tony:  They expect us to get through in the first five days, and then it will get stretched out.  Right there in the beginning, they will be competitive also.  Last Monday, they started a bunch of high-interest rate programs for the high-dollar depositors, and “this is what you should direct them to”. That’s what they are setting up and training their staff to do all last week and even today.  That doesn’t mean you will have more than 20 minutes;  it means you should be doing your homework right now.  You should be talking to the banks right now saying you have an inheritance coming up, and have at least an idea of which bank you want to work with.  It doesn’t hurt to let them know you know they are in  competition, and you want to know the rates and what they can do for you compared to other banks.

I was talking to someone over the weekend about the various countries depegging, and he asked if the prospect of a weakening dollar makes a difference, if he should even exchange right now.  If I am spending US dollars, then I always want more dollars, regardless of what the dollar is technically worth.  The dollar is strong right now, so I would be getting every dollar I could get.  Then when it weakens again, which it will, then I will exchange for more dollars because the other currencies will come up.  It’s common sense – you just have to sit and work it out.

Now, if you have done your homework, and you have a sense of the issues, then you can have a sensible discussion when you go to the bank. But you need to do it now.

Caller:  So if they have the green light, why didn’t they go?

Tony:  I don’t know.  If they get the green light in the next 24-48 hours, then something always happens and they decide they have to go back and look at it.  As much as we want this to happen, there are people out there who absolutely do NOT want this to happen. There are people in the banking systems and in the GOI who want to get rid of the corruption, but don’t want to give up their own power.  Iraqi government voted unanimously to give up the corruption and those position, but the minute they walked out, they said, “Yes, but…”  If they would just push the button and clean it up afterwards, that would work a lot better.  This is their country, and they are trying to make it a perfect system before they activate, and that is the problem.  But we are expecting them to do something that we haven’t managed to do perfectly in 200+ years.  But until they do it, they cannot have this money – or until they are forced into these changes.  The ones that want it to be perfect probably won’t even be around then.

601 caller:  Is Maliki still under impediment?

Tony:  We’ve heard all sorts of things:  that he and his son have been arrested, there are more charges, they took his plane and palace, that someone is resigning from Parliament so that Maliki can take his place, etc.  But until they take action, the talk doesn’t mean much.  Those are things they cannot wait on for the RV.

Caller:  I’ve always thought M would have to be gone and Shabibi would have to come back before this RV happens.

Tony:  Shabibi may not be officially doing this, but he is definitely there, and he got competent people in there.  I see him going around enjoying his life, confident that the government will exchange with the right laws in place.

803 caller:  What kind of influence does Maliki still have;  could he be part of the slow down?

Tony:  I assume he still has a lot of influence and that’s why they want him still in Parliament.

Caller:  I live in a rural community  and have tried to develop relationships with the tier 1 banks around here. WF has reorganized their foreign currencies.  Any way to find the exchange locations for those of us without a lot of choices?

Tony:  Different banks operate in different ways, so I don’t know.  Some exchange places won’t be at banks at all – they’ll be real estate or investment or office locations for those banks.  Some will be converted retails spaces that have been remodeled just to take the numbers, and they will be shut down afterwards. It’s gong to be like a cattle call.  If you are in a rural area and you call, and they ask you the specific question, they will assign you a specific location depending on your current location and how much you have.  Each location depends on the amount you have to exchange.  That’s why you need to do your homework now to have the right questions:  what rates?  What can you do for me?  What are the fees, if any?  If you can get those answers, you can choose to stay there or go to another bank that you feel will treat you better.

Caller:  I’m thinking to ask about the fees first and then the rate.

Tony:  I don’t’ think it matters what order you ask the questions.  The fees might vary according to the rate, and vice versa.  When you meet with the wealth manager, they have authority to negotiate on the rates, the fees, the times and perks.  You might want to check at least some of that beforehand.

Caller:  What if you have three different zip codes?

Tony:  Why would you want three different zip codes?  You have to give them some kind of ID, and you’ll have to show that when you go to the bank, otherwise they won’t keep the appointment.

602 caller:  You said something about possibly exchanging in regions;  does that mean that there will NOT be a central 800 number?

Tony:  I don’t know.  I imagine that they will start on the East Coast, so that people in California will not be standing outside the banks at 6am.  Some countries are doing it by regions, just to handle the crowds.  Here it’s more what designation you are getting, rather than by groups, and you can be designated in different ways.  They will put people first, second, third, but not in ‘groups’ per se.  Maybe category is the better word.

Caller:  I imagine they see all the TNT crowd as a group.  What are we looking for in the market?  Oil or currency rates?

Tony:  They were saying this will not happen until oil is 12%, and it’s down 11.5%.  However, oil is still higher than the original price this was negotiated for, so that’s not the relevant price.  The market is affecting it, but criteria haven’t changed.

Pam:  I’m not prepared, but I will say that we need to be prepared (as Daz and Ray both say) and we need to get ready (as Tony says). You guys have been listening to these calls and you know this stuff.  Look forward, not backwards, and let’s make this happen!

RayRen:  This is Marvelous Monday and looking forward to Terrific Tuesday.

Tony: Things are really good.  I got some more cards and ideas for the TNT Super-fantastic when you are helping people, using stamps, or hashtags, as we are paying it forward, so we can see it.  I really don’t’ think it will happen today but I do think it will be this week. They are saying it in Iraq and here;  the green light has been given and every-thing is in place. Maybe a few more laws would be great, but it’s not required.  The numbers, banking system and currency are all there.  There is a video with the CBI saying they are still going to delete the three zeros and it will take.  In the mosques, on television, on the radio and other media, Iraq is still saying ‘this week’, so …

Thank you for being here, and enjoy the rest of your day.  I hope/pray this is the last call like this and the last week we do these calls, but anything can happen.  Enjoy the rest of your day – thanks.

 

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