Replay: 641.715.0623, PIN CODE 409029#
Ray: . . .the banks were expecting us last Monday. This Monday they were expecting us again, so it’s starting all over . . .(Ray read the weekend updates) . . .
Saturday, Feb 9, 2019:
- Iraqi TV broadcasted a member of the Finance Department requesting that all ministries of the government receive a copy of the revised budget and to get it ratified and ready for implementation starting on Monday.
- Iraqi TV aired footage of US troops patrolling downtown Baghdad today
- Iraqi TV is reporting that the budget will be printed in the gazette “in the next two days” and will be enforced immediately upon its printing.
- US Banks are reporting an “expectation” of exchange activity possibly as early as Monday. Reported IQD screen rates are varying from $4.43 to $4.60…depending on the source.
Trying to confirm a possible rumor of exchange activity across the Pond……..standby for that one, it could take a while. (smile)
Rayren in chat: Remember . . . whatever the opening rate for the IQD, we still don’t want to be “First Mouse.” . . . Now do we???
Sunday, February 10, 2019:
Iraqi News: The federal budget is ready for implementation by the ministries and the governorates, although not yet published in the Official Gazette.
The ratification by the Presidency of the Republic on the budget makes it considered an effective and enforceable law. This gives the ministries and the provincial governments the right to legally use the budget to implement their plans. #wearethepeople
Iraqi TV reporting Hakeem and Abadi this morning saying how important it is to complete the cabinet As Soon As Possible
Tony: Goooooooooood Morning, TNT! This could be the last marvelous Monday we get to spend together.
One thing I can tell you for sure. If you ever tell Tish if you see something, no matter what time it is, to let you know . . .she is going to do that because it was 12:23 am when she let me know the budget was definitely in the Gazette. I thank her for that and I thank all 50 of you others who let me know.
In the Gazette, the rate is 1182. Not what I was looking for. Not what you were looking for. I will tell you this. Articles out today that tell you the rate is something else. For you article people . . .there is an article out titled, “Kuwaiti Grant for Liberated areas in Iraq.” Dated Feb. 11, 2019. Says Kuwait for economic development on Monday signed a grant agreement for 25 million dinar, (80 million USD). . . Gave them 30 million dinars for energy, industry, ad education. About $98 million USD. as well as four grants to fund social sector project. (more millions) That brings the rate to $3.26. They are telling you that is the rate they are using as of today to make their payments.
Articles out today . . . numbers don’t lie. That’s the rate they make their payments, $3.28. In black and white.
Bank was all excited all weekend. Wells and Chase had some issues. both of them. Wells said they were getting ready for the RV. As of this morning all banks are aligned and realigned. Saying ready for tomorrow. I would say sometime this week we may see a change. People on phones, bank accounts changing over night
Iraq has completed their budget. Probably won’t resolve the minister problem until 2020. They put that out today and that Maliki will get one of the Vice President position. No power, but gives him protection from prosecution. Said they had to give him the position as he still has significant influence with Iran. It was a deal brokered on the side.
That is where we are at. We are getting ready, anticipating going to the bank.
CURRENT WINDOW: Tony: I think the banks or US Treasury has to say “Go!” Could be later today, tomorrow. Sometime this week before the operational rates come out. . . The banks were given a 48 hour window this week that I am not giving to you.
Tony: Banks have a live rate. Been sitting there. Has not changed in two weeks. System aligned with all the other banks so all are on the same page. . . the banks are already using that rate on the back screens so it doesn’t matter what time of day. Most of my people don’t think this will wait till Friday. That it will go early in the week.
Are they going to wait till 2020 to revalue their currency when they are qualified now? We know they are getting paid on their reconstruction efforts. Our banks took a big step, Thursday, Friday Saturday. They all said they were realigning everything for this event. They are now in alignment with each other.
IRAQ: BUDGET IS PRINTED IN THE GAZETTE. Tony: Their new budget is greater than eight other countries in the middle east. Where does that money come from if they are not going to RV their currency?
- Ministers: Article announced ministers will not be settled until 2020.
- Media: Articles out about a grant from Kuwait and the math works out to a rate for dinar of $3.28.
- Maliki to get VP position which has no power but gives him immunity. This was negotiated in a side deal. Tony: He’s trying to give it power. VP’s don’t do anything, but he is trying to be involved and do things the foreign ministers do. . . he has people in the government, in place that he can control. They are concerned with that because he’s been fighting everything Abadi and Mahdi had been trying to get done. It’s said Abadi did not get a 2nd term because he was threatening to expose Maliki’s corruption.
- Currencies: Zim, .02.; Indonesian Rupiah, $1.08 – $1.25, Dong and Dinar all expected to RV at the same time.
- Banks: Reset, realigned and re re’d over the weekend. Tony: Banks have a live rate. Been sitting there. Has not changed in two weeks. System aligned with all the other banks so all are on the same page.
- Wells Fargo: Tony: WF has put out a statement they will pay the fees on anything with fees attached. Mortgage, etc.
- Taxes: No change in the previous information that it will be a non-taxable event.
- 800 #’s: Tony: As of today we have not been made aware they are doing away with the 800 numbers.
- NDA: is to cover the contract rate for period of 90 days. Expected to be a four page document.
- Qualified Investors qualification is set at $10 million.
ZIM Information: Tony: Banks saying they will take 50 and 100 trillion and process them and my committee guy says they are not, they just have not been told that yet. . . Banks constantly saying one thing and our committee guy saying something else. Get more dong! Banks have a rate of .02 for the ZIM and when the 6 zero’s are dropped a 100 trillion note will equal $2 million.
Q & A: TNT Forum
- –Is it possible that the rate figured comparing Dinar to dollars with respect to the grant from Kuwait is computed in Kuwaiti Dinar? Tony: If it’s Kuwait dinar it will be about the same. We know at one bank it was $4.43.
- –My question was what difference in the spread fee should we expect when we exchange currency? Will the banks REALLY try to charge a 25% fee? What are the bankers saying they will charge? Tony: Our committee member says the fee was going to be so small. Check it out for yourself. I know one guy did not pay any fees at all. The banks know they are going to be getting it back later. I know I am not going to pay them 1% of $50 million just to do some paper work.
Q & A: Callers
- –Do you think we are really going to get to go this time? Tony: It looks like it. I don’t see anything to hold us back. Said the ministers are not going to hold them back.
- – When you say you talk to the banks who do you talk to? Tony: I talk to regional; branches; people exchanging. The UST gives them a memo and the manager goes to a meeting and passes the information down. They had a meeting and were given a 48 hour window this week that I am not giving to you. I did not say when the window is.
- – Do you have a treasury contact? Tony: We use our committee member. We had a direct contact, he got pulled over by the secret service and took his phone. They did not fire him.
- –Don’t you think as universal Dinarian’s we should have our own hand sign? I’d like to know if there are some dinarian’s in my sphere. Tony: Just go around throwing up a hand signal and see who reacts? I always wanted my own gang sign.
Caller: Put your hands up with your palms facing each other and move your thumb between your ring and little finger. Tony: I’m going to start doing it today. . . I’m going to be looking for it all day now.
- – How do I get a tweet?Ray: Text to the number 40404 the following message exactly: FOLLOW THE_TNT_TEAM
Tony . . . All right guys what we are waiting for has occurred and the budget is done. No more excuses. All we need is the next step. Iraq has done what they need to do. Everybody is expecting something to happen this week. Between now and the 15th. If it changes, get a new date, we will tweet it out to the world.
Be excited, be ready. Rate has been sitting there live for two weeks. I am ready to go to the bank! Enjoy your day, I’m going to enjoy mine.
Ray . . .We’ll see what happens between now and Wednesday and keep you updated. Keep believing. We sure do. (played “I Believe”)