TNT – Wednesday

TONY – Good afternoon, TNT. It’s Wednesday, March 18, 2015 and we’re going to have a superfantastic call today with a wealth of information. DC will tell you when you can expect to get the info you want. I didn’t expect to get here on March 18. Nothing but good news, kind of exciting news, no crystal balls, just info.

DC – Hope everybody’s having a great afternoon. Bottom line is that everything looks really good. We are in a beautiful spot. On TV they’re announcing that Stage 4 of the rollout has begun and we’re just waiting on the big man to pull the trigger.

T – This is what’s going on from our people in Iraq this morning. This is not being shown on Iraqi TV here in the USA. This is only being shown in Iraq. Last night on their TV it was showing “Stage 4 of the Economic Reform has begun.” They do have celebrations planned today to celebrate the victories against the terrorists and the final stage of economic strategy.

DC – This is what’s on their in-country TV. They plan to do this as wel speak. There are celebrations planned for the UN folks in town today. The CBI and Finance Ministers, Federal Council, etc. expect this at any moment. They are in the process of the celebrations. Once it goes thru everybody will forget the chaos. Like we said on Monday, in the southern provinces they’ve started changing over to the new rate of 3.91 on their cards. Payments are going to contractors, widows and orphans. That is now starting in Baghdad and in some other key areas. Does that mean it has RV’d? No. Because we can’t spend the money. The majority of the everyday people can’t either. But the process is continuing as we speak. They’re also playing on TV that the completion of the economic reforms will be completed in the next day or so. There are also a lot of articles helping train the elders in the mosques to help with the transition process.

T – Monday we talked they were starting in the outer provinces, working outward in. The reason behind that is to make sure ISIS doesn’t get any of the new currency.
DC – Another reason for that was to keep the process methodical.

T – So now today they’ve reached Baghdad. DC – How long this process will take we don’t know. I can guarantee you Shabibi and Abadi have a good idea how they want this to do. It is very strongly in their hands – theirs to choose.

T – How many phases are there? Last week on TV they announced Stage 4 and that economic reform as been completed. That referred to the government reforms that were necessary to payout everybody. Now they are announcing Stage 4, which is actually they are paying the citizens. We know today was supposed to be a special day. It’s a great day. DC – I was trying to avoid saying that – LOL!

DC – Everything is lined up, on call, and locked down. They’ve even made a special announcement in the mosques and on the radio that there’s supposed to be special celebrations tonight. Are we betting the farm on this? NO! T – To repeat my disclaimer: we don’t have a crystal ball. We are not the only people in the world who knows this.

T – So, in order not to get DC in trouble let’s talk about something else. Tell us what you plan on doing with your money and your experiences, what you’ve gone thru. Everything else might go over the top, so we will stay away from that. We are in a great, great place.

*STORIES ABOUT TNT CALLER EXPERIENCES…

C – What did you think about the 3 more EU countries adding to the Asian investment bank? DC – I’m for it. It facilitates a more mature market place. I’m all for it.

C – When we call to make our appointment and they ask the amount of the dinar we’re holding, should we hold any back for leverage? T – I would tell them everything you have so you can get the best deal out there. When it comes time you can negotiate.

C – Is everyone going to exchange their ZIM? DC – We really don’t know. They originally didn’t expect more than a few having it. Now they’re having to adjust it because they don’t want everyone getting the high rate. We heard there may be a limit on it up to a certain amount then they’ll cut it back to a penny or so. This is coming from very credible bankers in the past 3-4 days. I’m going to go in with my best hand showing and ask what they can do for me. However, some folks, if you have a lot, is to divide it up (among the different banks).

T – If it was me and I had 100M dinar, or 100T zim, and they tell me they’ll give the highest rate up to 20M and drop me to the lowest rate, common sense would tell me to only go in with 20M and give the rest to my brother, sister, someone on the street. That doesn’t make sense to me.

T – Again, we don’t know this is a fact. We’re just going thru different scenarios. It doesn’t make sense to me. I would never do it.

T – Okay, we need to go back and clean up something. Our first caller, according to the texts I’m getting, wanted to go out on Facebook and tell everybody about the dinar/dong BEFORE it happens. I certainly don’t want that on Facebook, Twitter, Instagram, etc. because it dilutes our opportunity and rates. It wasn’t meant for the whole world or it would have already been announced on the Six O’Clock News. There are 6M of us and if each of us helps 5 people that will certainly make a dent in our economy without going ballistic.

DC – This isn’t the only thing you can make money off. There are many opportunities out there you can do very well for yourself.

T – I didn’t tell the cigar guy because that was my quiet place. Everybody I did tell didn’t want to get involved. We’ve been thru the fire and someone else wants to jump on board at the last minute?

C – Did you just say you would call each bank and tell them what you have and compare? T – Yes. I would tell them to make their best offer and see what you can get.

C – We’re leaving on Saturday for a week and are not taking our currency with us. Should I take my Zim with me, because the rate may fall quickly after the RV? DC – I think it will drop fast. Get in and get out as fast as you can. I would take as much Zim with you as you feel comfortable with, or if you can get back quick, do it then. T – I would never, ever put money in my suitcase!

C – Are you still planning to give out an 800#? DC – The plan right now is for Tony and I to do a 15-minute call and give out 800#s for each bank. Tier 2 banks will also be able to exchange.

C – Are you obligate to exchange it all with one bank? DC – It’s like car-shopping. Banks are competitive. T – They’ve told their employees “get the money.” They’ll be competitive.

DC – Tier 2’s in US have been tested successfully. Don’t know if they will have access to contract rates. Be sensitive to them. They have not had years to ramp up. T – They got a rate yesterday.

C – My husband and I have reserves with Sterling and we thought about paying it off early (in a couple of weeks). How do you feel about it coming to you safely post-RV? DC – I don’t want that kind of money in the mail. This thing can go really quickly. I don’t want to worry about FedEx. T – I wouldn’t want it to be this close and I’m trying to set and appointment waiting for the mailman to show up. If you’re not looking for a contract rate, you can exchange with them and have the money wired to your bank. They’re still staying they will ship it to you post-RV or deliver it, or arrange for you to pick it up.

C – My husband’s thought it would give us a greater shot at a contract rate if we have it in-hand. T – It’s going to be complicated. Once it happens it will be hard to rationalize. You should plan NOW.

C – Any changes in the rates? If I have more can I expect a different rate? Can you discuss that? T – All we’re saying is if it’s 3.90 and you have 100K dinar, you’ll get 3.90. But if you say you have 5M dinar you may get a higher rate.

C – Has the dong settled on a rate? DC – We understand it is still a very, very good rate. We don’t know what we have to be sensitive about.

C – I live in Florida. If I exchange with Sterling in GA, will I pay taxes in GA? DC – We don’t know. It’s a state by state transaction. We don’t have a very good answer to that. It may be better to exchange just enough to payoff your reserve. Politicians always see the chance to change laws to get a piece of it. I would be cautious in my planning.

C – I have 2 minor children. Should I set up their trusts first then exchange, or exchange first then set up a trust? DC – I’m not a trust attorney. I would get with a very good estate attorney and walk thru the scenario with them. You want to move money from personal accounts into trust or business accounts when the value is low. Put it in escrow now. You can gift to minors but you cannot get around the tax liability.

NOTE: Caller has been trying to get on the call for 2 years and then admits she has no questions. Instead, she’s begging Tony to give Ray her number so she can get on his Open Mic call.

C – I have plans in Indonesia. Will the rate be 3.91 there? T – The rate of 3.91 is to the USD. DC – The rate in Indonesia will be their currency against the dinar, not against the USD. They can exchange it against the USD in their country if the country allows it. The Rupiah is one of the most stable currencies.

C – Can my Indonesian friend exchange in the US if he’s not a US citizen? T – We’re hearing there is a 6-month minimum for residency to get a contract rate.

C – There was a guy the other day who said Shabibi said there would be a $16 rate. Did you hear anything about that? DC – Shabibi was speaking at a conference in Jackson Hole and said Iraq could support a rate of $16 a few years back.

C – You said at the beginning of the call they are on Phase or Stage 4. Were there actually more? DC – Iraq says there are 4 stages to their economic reform, starting with paying corporations and smaller companies due past payments. Stage 4 is paying the everyday citizen, which includes us. They have started that in Baghdad now. We should be next.

C – We heard 1 group has in their contract the tax liability covered. Can you speak to that? DC – The only rate I heard for groups is 30%. Please don’t put much into that. I don’t think anybody will know what the tax liability will be until well after this goes. T – They (banks) may ask you to have a tax escrow account as part of the negotiations.
C – Is there an insurance policy to protect the escrow account (not FDIC)? DC – They will be super-insistent you put it into a safe account, like CDARS, to keep it safe.

C – There’s a Swiss bank here in the Houston area. Do you know anything about them? DC – A couple have branches in Houston and I’m comfortable with them. Most of them are well-run and well-regulated, having been in business for a long time.

C – Is this really going to happen anytime soon? People are getting frustrated. DC – Everyone in this gamie is highly frustrated. Do I personally believe this is very close upon us? I absolutely do. Do I know everything? No. But what I hear is that everyone around the world believes this is very close. We sure as heck better get it before the end of March.

C – If I have 3 different currencies, how do you determine taxes? DC – In CA you’re going to be paying a lot of taxes. If you take a group rate it’ll be a different situation. It’s highly dependent on where you are. T – It doesn’t matter how many different currencies you have or how many banks you have.

C – Will there be an exchange center in West Virginia? DC – There are several bigger banks in WV that are Tier 2.

C – So you say the USA has no part in dragging this out? DC – In the past several months, no. Before then, yes. It’s very clearly been in Abadi and Shabibi’s hands for the past few months.

RECAP: DC – We are very, very close. Everybody in Iraq is ready. We’re on Stage 4 and they’re paying at 3.91. US banks are ready for it to go down at any moment, as are the world’s banks. They expect it at any moment over the next several days. Don’t go buy dinar based on what we’re telling you. We’re telling you what we hear. T – We probably gave you more info than we should have. We gave you everything except a specific date/time. All systems are go, lights are green. Everybody is on alert for this to happen at a moment’s notice. We’ve never been at a higher level of readines. All of our sources are saying it’s super-sensitive. We’re happy and excited. I hope, at least, by Friday if we have to have a call, it’ll be a different conversation. We’ve never been this close, and we’ve been 10 minutes away before. Nobody’s arguing. Some are celebrating over there. When it happens we’ll send out a tweet. END OF CALL.

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