TNT – Monday

Tony CC Cliff Notes, Monday, Dec 22, 2014
Permalink Reply Quote Printer Friendly

Highlights of Tony’s CC. Will update as call progresses – Sunny

Tony: It’s not cancelled. Not Jan, nor Feb. Delayed a couple of hours. We wait. Don’t know exact timeline. Plan was to be there today. Could have been delayed 2 hrs, 10 hrs, 24 hrs that was the plan.

DC: “Frankly, folks in Iraq going into Parliament said they were going to finish this up tonight. . . If everybody gets their job done we could be in the bank tomorrow.”

IRAQ: Delay this weekend caused by massive mis-communication between USA and Iraq. USA thought there was great political in-fighting going on in Iraq and a cause of much unrest. It was just trash talk. They got everybody out of sorts and bigger issue developed. Dr. Abadhi used the weekend to fix this.

Everything is quiet now. There is a communication blackout in Iraq which DC said is “a great sign.” The rate is there. The system is up and running. Scheduled some people to come in and do exchanges. We’ll see if the schedule holds up.

Recent History: US and Iraq are the 2 main players in this game. BIS and IMF are referring the game. When Kerry was recently in Iraq, it was agreed the US wouldn’t move the ball anymore. Kerry promised US would help where we can and not block anymore. The USA has a physical team of people over there to let you know this is serious. The USA wanted budget changes finalized and changes in some minor stuff that would make Iraq stronger. As usual everybody kept asking for a little bit more, but an agreement was made to do this on the 18th. When the 18th came Iraq still had 4 items that were not completed.

DC said Parliament is meeting tonight to pass the budget and a few other things. Tony says they passed the supplemental budget last Friday so how could they have the budget yet to pass. Tony: “We know the budget has been passed.”

Reminder: Say “Exchange, Exchange, Exchange!”


BANKS: Tony has heard if you have a connection with a wealth manager it may be advisable to call them directly when the 800# is released.
FOREX: As of this morning, it is not scheduled to show until after Jan. 1st
Contract Rate: Tony says it’s a fair number and more than he expected.
Dong Rate: Question asked and the guys did not respond with a specific rate. Dong Cap/Limit was changed a few weeks ago from 100 million to 50 million per DC.
Exchangers: will have same rate as banks with a 1-9 minute delay.
Reserves: Tony said plan on doing them with the exchangers
Taxes: Your state of residence will determine if you owe state taxes.
Funds Availability: Some have had access to 10% immediately and the 90% balance in 72 hours; others 40% in 24 hours. One bank has been giving 5% access w/remainder in 24hrs. If you exchange before Christmas you should have access to funds for Christmas.

Hold back to Exchange: Yes, you can exchange some now and wait to exchange more in January. DC: “I’M GOING TO EXCHANGE AS QUICK AS I CAN AND YOU SHOULD TOO.”

800# Scenario: Example ONLY – NO r
elationship to actual possible scenario: – at 5 am DC gets a call with 800#. It will also go to a few other Guru types. Tony/DC will set up a call and explain the process. They expect to do several additional calls as issues come up.

Leave a Reply