TNT DINAR CC (Notes by Adept1)

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Replay 605.562.3179, PIN CODE 409029#

Tony:  Good morning, TNT!  Today is Wednesday, November 11, 2015.  Without a doubt, I am super-fantastic – happy and excited to be here.  We appreciate the service of all the veterans out there.  We thought about whether to do this call, because I’m not sure I’ll be doing a call on Friday or not.  There may be no reason to do a call on Friday, but in any case I will be traveling.

There is not a lot of information today so this could be a short call.  Most bank screens are blank at the moment, and that is hopefully part of the plan. Most banking people are confused this morning because the plan was for this to be OVER today.  They called people in last night thinking it would be completed early t his morning, and here we still are.  Nobody can give a definitive reason as to why.  Many are distracted by Veteran’s Day ceremonies, and many banks are closed. There is still a timeframe through the rest of this week through Monday when this should be completed.  Many in the Iraqi govern-ment who think it will be done on Sunday, and others say “no way this can last until Sunday!”  Nothing has been stopped, argued or changed;  there is just confusion as to why it didn’t happen as it was supposed to this morning.  Maybe this afternoon we will get more information on that.  It’s still a good day, we are on our way. Iraq put out the 50,000 dinar notes, and the lower denomination notes are at the bank waiting to be distributed.  They are still telling them how the RV process will work, every day, so that as many as possible know when it does get started.

301 caller:  I know you said that the elderly have to worry about exchanging currency.  My father is retired;  will this affect him and his monthly income?

Tony:  I don’t know if it will affect a retirement pension, it’s more those who have medical or government programs (that are means-tested).

Caller:  I’m not going for the contract rate.  What difference will it make if I go to a bank rather an exchange center.

Tony:  I don’t think there will be a lot of difference; nothing beats a failure but a try. The exchangers are going to be doing the market rate, and the banks will as well, probably.  So it’s just a question of where you feel safe and security. The exchangers will give you the rate upfront;  then you go to your bank appointment and see which is better.  IN the past there was a great opportunity at exchange centers, but then they removed some of the exchange centers and reserve programs.

Caller:  Have the average citizens been paid in Iraq?

Tony:  Some of them have been paid at the old rate and some at the new rate.  They have not been paid this month at all so far, and it’s already the 11th.

973 caller:  I’ve been waiting a while to get on the call.  Back on May 21st, Susan Swanson posted with checklists, etc., and one of those things was to write ‘all rights reserved” when you sign the NDA or contract.  Is that still a good idea?

Tony:  Whoever posted that on TNT doesn’t represent TNT.  I’m not familiar with what she actually posted, but you can always call a local attorney and get some free advice for 15 minutes to find out what that means on a contract.  I don’t know myself.

Caller:  Is the zim still in the basket?  And are there exchange locations in NJ?

Tony:  Yes, the zim is in the first basket.  I don’t have a list of exchange locations.  If you have a base nearby [or a town of over 100,000], there will probably be an exchange location near you.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  So we all can go, and Tony, too!

410 caller:  I would think this would be the perfect day because they don’t have the people in the bank.  Are they understanding this in Iraq?

Tony:  I think they are getting educated;  I’m not sure it matters to them that it’s Veteran’s Day and the banks are closed over here.  This is a global currency event, so there are banks open around the world apart from ours.  I got a call this morning that they are all mad at the banks because it didn’t happen today. I heard the three-letter agencies cleared it all again last night, and nobody knows where the real problem is.  Everyone thought it would be today.  In Iraq, everything has been done, but our sources are saying it probably wont’ happen until Sunday.  Everyone is in position, ready to go, and some don’t think they will make it until Sunday.  The IMF meetings went great yesterday and everyone said last night, “Let’s go, let’s get this done.”  But here we are, and we don’t know what happened.

Caller:  I’m very grateful.  Vegas, Vegas, Vegas!

404 caller:  When you say everyone thought it would be over with early today, how likely is it that it might be triggered today?

Tony:  It’s very likely because we don’t know why it didn’t happen.  This could happen at any moment – they could be trying to make it happen right now, because I don’t know what made it stop.  I know the goal yesterday was to release it last night.  It was supposed to go early morning.

Caller:  Sistani made it clear earlier that he wants this to be done.

Tony:  We see his messages that people should not use the laws as an excuse not to do this – get it done and then argue about who is gaining or losing power.  He has the power of the people behind him and nobody’s trying to stretch it out.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  So we all can go, and Tony, too!

Tony:  Five years ago, we said that it would be total chaos and confusion at the end because they don’t want people to know the exact day or hour.  Everyone in the system is saying “let’s do this!”  They put out the 50,000 notes today, and some say that articles said that those notes will be put out in 2016… but here they are, and part of what we said would happen. That’s a good thing and you all should be really happy today.

707 caller:  Regarding DC, many say they miss his being here, and I share that.  You are such a great host on this call but DC…

Tony:  DC will be here when he can come back here.  He is doing what he needs to be doing.  He is very private, and he will be here when he can, and not otherwise.

775 caller:  A long time ago, you said something about the process the banks go through when they accept our dinar.  They make an income at different stages, not just the fees when we exchange.  Could you go over how that works?

Tony:  You give your money to the bank and now you want to know how much the bank is making off of that?  You don’t care how much you make, you want to know how much they make?  Banks make money off of your money:  overnights (making money every single night), and off your deposits (fractional banking at a ratio of 1:8;  that is, you put in 10K and they loan out 80K, out of thin air). That’s how they make their profits.

Caller:  I thought there was another little kickback when the currency gets back into government hands.  I’m looking for some leverage here.

Tony:  You want them to give you their percentage, too?  We are not going to get their money because they are in business.  They do have the option to give you some of the contract rates and/or not charge you fees.  But you have to be the negotiator there.  They will negotiate with you.  Your rate and everything you will be offered will be based on how you present yourself during the exchange process.  Dress and behave in a professional manner.  If you look like you have no clue what you’re doing, that’s how they will treat you.  If you have done your research and know that there is an opportunity, and talk to them about what rates and interest rates you believe you should receive, and knowing that they will make money off your money… You have to be willing to negotiate and not be intimidated, because they will treat you the way you present yourself.

Caller:  I know there is a lot of talk about the 3.8% ‘ObamaCare’ tax, but that is a ‘lesser’ amount – you are taxed your net income tax OR the 3.8%, whichever is less.

559 caller:  I’m blessed!  I was going through some notes, and I know some of these things no longer apply, but you said something about negotiating during the second appointment.  However, there was some discussion of a flat tax – is that still happening?  Also, do we need to specify the correct three-letter codes, or just take in the currency and ask them for the best rates?

Tony:  During the exchange, if you can get a higher rate during the beginning, go for it.  They could have rearranged all that.  Most of the people doing the exchanges now will actually BE wealth managers, so that will be easier.  Re: taxes, I heard a RUMOR is that there may be a 15% flat tax.  However, ‘prepare for the worst, hope for the best’.

Caller:  We calculated everything on a high rate, low rate, flat tax… all possibilities.  Do we have to specify the letters like IQN?  Do we need a sweep account?  Do we need to specify that no one has access apart from the wealth manager?

Tony:  You are just trying to confuse everyone now.  IQD and IQN show different rates, according to my banking sources.  Remember to say “I’m here for an exchange”;  that’s really important.  As far as the accounts go, I was told by someone in the UST to put my dinar in a separate account because it will be tracked and taxed differently.  That falls under the category “better safe than sorry”.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  So we all can go and meet Tony there.  Hopefully this is our last call.

773 caller:  I read a chat post saying the CBI was to respond to statements about the monetary policy.  Did they say anything about that?

Tony:  There are always discussions about that, so I’m not concerned.

Caller:  I heard that Iraq had met with the IMF and signed a memorandum of understanding.  What relevance does that have to the RV/GCR?

Tony:  The IMF is one of the agencies that has to sign off for this to happen, and it will potentially hold the responsibility if this goes wrong.  The IMF wants to make sure everything is in place and if anything occurs afterwards, even if the leadership changes, they can come back and take control.  For 200 years, and what is normal business for Iraq looks like corruption to us;  the IMF wants to make sure that everything agreed on stays in place, not letting the Finance Minister walk off with ‘his’ money.  A lot of things had to be put in law and the IMF wants to make sure it remains that way.  Iraq is trying to work all this out and make sure it  gets done;  the IMF is more concerned about the next guy who comes along, to make sure the law rules and not the individual.  This is the more important because the foundation for the GCR is the Iraqi dinar, so they need to make sure it stays stable for the next 200 years.  If Iraq collapses and everyone is using dinar as a reserve, what happens to those reserves

Caller:  [Appreciation]  Vegas, Vegas, Vegas!  I’ve got used to talking to you every week!

Tony:  We can have a conference call with Pam and Ray!

TexasGranny:  I called you five years ago when I went into Chase and Pam connected me to the call so I could talk to you.  That was the first time Chase acknowledged that there was an IQD and there would be an exchange. That was five years ago!  I’m tired of waiting for a good ‘Black Friday’!  I am waiting, Tony!  Everything has been said, and all we are doing is waiting.  [Appreciation]  Vegas, Vegas, Vegas!

410 caller:  I’m super-fantastic as well.  I know you haven’t been saying the rates for a while; on the final call, can you tell us the contract rates, so we have a baseline?

Tony:  That depends on who I get the call from and what they ask me to do.  If I don’t get the call, I’ll tell you everything I know.  However, if they call, I will do what I can to make it smooth for everyone.  There isn’t a set contract rate;  it’s more what they will offer you IF you meet their criteria.  They may offer you a little more and spread out the contract rate. That would be based on what you have.   So if you have above X amount, it more worth the bank’s while to offer you a higher rate.  If you only have 100K dinar, they will only have 300-400 thousand dollars, and you will probably not be offered the contract rate.  If you have millions of dinar, or can combine it with dong, rupiah and zim, then they may offer you more.  I’m not sure;  I’m hearing two different versions.  There is a contract rate, and I know of people who have negotiated 25-100 cents more on the rate.  So sharpen up your negotiation skills.

Caller:  I quality for the contract rate and I have a number in my mind.

Tony:  If you have never negotiated before, you shoot for the stars and land on the moon.

Caller:  Let’s say I’m DC, and I’m going to ask you:  is there any question you might ask at this point?  What would that question be?

Tony:  I think I’ve told you everything already.  You’ve already asked all the important stuff.  It’s all out there, on the table, and we just have to wait for it to happen.

Caller: What one thing should we be doing right now?

Tony:  Get ready.  Have your plan.  Go through your numbers so that you have a definite plan, and when they give you a number, you know what you want to do.  You need to know what the other banks and dealers are offering, and then negotiate for higher rates, better terms, whatever you want in an offer.

Caller:  [Appreciation]  Vegas, Vegas, Vegas!

954 caller:  We have heard of three possible procedures – have they narrowed that down?  Will there be one 800 number for all banks, one for each bank, or shotgun?

Tony:  I don’t think there will be one 800 number because the banks are in competition.  I hope there will be an 800 number for each bank.  If they go for the shotgun approach, it will be chaos because everyone will be calling all of the banks.  We think it makes sense for them to at least give me and other gurus an 800 number so you can choose a bank.

Pam:  Thanks to you, tony, for your service, and to DC for his continuing service. My dad was in Pearl Harbor on a tanker, and my husband was in Viet Nam. You guys deserve all good things.

RayRen:  Thanks to all veterans;  it’s your day. All gave some, some gave all.

Tony:  The day is not over, and anything could happen.  Only a couple more days left in the week.  We probably won’t have a call on Friday because it’s in the middle of my flight time.  We might do one earlier or later.  Thanks to all our veterans, so please enjoy your day.  Anything could happen today, tomorrow, Friday, and if so we will definitely do a call and get this party started.  Enjoy the rest of your day;  we are just waiting for someone to make that announcement and tell us that we can go.