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Monday, December 22, 2014

TNT CC NOTES, 22 DEC

TNT Call notes 22-Dec-2014

Replay 805.399.1500, PIN CODE 409029#
http://events.instantteleseminar.com/?eventid=63779403

Tony:  Good afternoon, TNT!  Today is Monday, December 22, 2014.  It’s a super-fantastic day, and weekend. What we wanted didn’t happen, but a lot of great things did happen.  We have to let DC talk as fast as he can, because he might run out of power.  The lady who sent me the puzzle, a dinar puzzle, I did get it and opened it just now.  Let’s do this first – sometimes Mtn Goat puts out a good post and I want to talk about it for a minute.  Some things I agree with, things we cannot say because of our connections. What I don’t like is when things are said against our government, and that I do not agree with.  However, the information is good sometimes – the same things we’ve been telling all you over the last 6-9 months.  It’s a good explanation of what’s been going on for the last year if you don’t’ understand it from the calls.  It’s a good explanation what was happening over the weekend…
DC:  It was supposed to be done and initiated late last week.  It was not because of several minor issues and a certain lack of communication by all parties. That is being solved.
Basically, the US and Iraq are the main two players here, with the BIS playing referee. They keep changing the deal, sometimes sweetening the deal for Iraq and sometimes just strong-arming them for political reasons.  Recently they agreed that this is going through, no BS, no more moving the football. The UST, the Fed, and others went to Iraq so that could all sit down with the CBI, in the same room, no communication problems. They wanted a few last changes in the budget to make Iraq stronger, and Iraq said they would get it done. That process kept dragging out, and everyone there kept asking for a little more and a little more. Then the GOI decided to DO this on the 18th, no matter what. There were four items unfinished, very minor issues that didn’t require the full parliament. Those have been completed now as well.  So everyone geared up, everyone went on lockdown and high alert, physically  in the right locations, etc.  Iraq takes its time because Arab culture is not on the same high-stress timeline as the US is – they get it done when they get it done.  They said they would get it done in a little bit. Then there was some inter-party bickering going on for credit, and everyone got lippy and contentious.
In the US, that was mistaken as a bigger ordeal than simply talking trash.  They thought the Iraqi process was going to hell, and the US said they couldn’t go along until Iraq calmed down, and the Iraqi politicians said, “What the hell are you talking about??”  Those who have played team sports know that there is a lot of trash talked on the field, and if you hear that for the first time without understanding it’s not a big deal, then… So how it was interpreted by the US was that there was a serious problem. Everyone got out of sorts, it all escalated, and they spent the weekend fixing this misunderstanding everyone had with each other, fixing the budget, and so on.  They told everyone to calm down on both sides, and now they are to present the budget tonight – although ti is already 9pm in Iraq right now. They anticipate it will pass, and everything will be fine, and that will allow the RV to continue.
Something could happen to mess this up, but no one thinks so as of 25 minutes ago.  Thye have had their feathers ruffled a little, but they are all moving on.  It’s about some minor things that didn’t’ get done on a US timeline, and that kicked things back a little bit and they are getting those minor things doen right now. Iraq is winding up to get this now.
Tony: Everything was scheduled to start on Saturday morning for us to be at the bank on Monday morning. It’s delayed by a couple of hours or a day, just because of some political chest-pounding on their side – we already had that on the US side. Everything is quiet now, with a communications blackout in Iraq.  That is a good sign, actually.  The budget has been passed, and the supplemental budget got passed on Friday. That’s there, the rate is there, the system is up and running, and they have scheduled some people to exchange, so we’ll see how that works out.
DC:  In the US, as part of the communication issues, the banks sent some people home. The information that they got it fixed has been published throughout the US.
Tony:  The plan was to be there today for it all to get started.  It has been delayed two, ten or 24 hours, we don’t know.  But everything got fixed and they’re getting ready to do it.
650 caller:  How confident are you that this is happening this year?
DC:  I just spoke to people in Iraq, just stepping into parliament, who say they are finishing this up tonight!  If they don’t know, no one knows.
Tony:  The schedule was for today.  They have their schedule, and the US has their schedule, and they go back and forth between them.  Don’t spend money you don’t have for Christmas but it is at least scheduled for tonight!
DC: The banks had plans, they blew them up this weekend, and how they are reissuing those plans – once this is done, they will start taking phone calls and appointments. They would have got more through if they had started on the 18th and Saturday as expected, but they can still take a lot of people through, even with a half-day on Christmas Eve and New Year’s Eve. There will still be nearly two weeks of exchanges at that pace.
Tony: They should still get most of you internet people done in that time.
860 caller:  I’m also super-fantastic, knowing this is coming soon.  A friend I have shared with is out of town on business, can they exchange where they are, and where are they responsible for their taxes?
DC: They don’t’ have an agreement with all the states. That means that according to my friends, there could a tax in the state you do business in.  For example, Georgia has a state income tax, and Texas (where I live) does not.  I have to pay California income tax on the business I do in California. My folks believe that where you exchange, you should allow for the state income tax in that state.
Tony:  Plan on paying the higher tax, whichever that is.  If you don’t’ have to pay that, great, but if you do, at least it’s set aside and you’re ready.  Of course, we are not attorneys or tax accountants…
786 caller:  With Mtn Goat’s thing, she said BoA was the lead and they couldn’t get it done, and WF took the lead and couldn’t get it done… what do you make of that?
Tony:  We already talked about that.  WF is still the lead bank.
Caller; So if you call WF, and they don’t know about it, that’s because there is a blackout.  I have talked with WF people as high as VP of investments, and nobody seems to know anything. I just want to know there is someone I can talk to about this.
Tony:  Right.  They don’t want to tell their employees because they will all buy currencies and walk off the job, or if it didn’t come out, then they might be liable in some way. When this pops, you will get the 800 number, and they will send out a memo to everyone in the bank, and then they will acknowledge this. If you have a personal connection with a wealth adviser, call that person directly.  I know some wealth managers who have a list of who they are going to call.  So if you have another number, call that rather than the public 800 number.
718 caller:  I know you talked about the five regions you were looking at for the future, and some other countries;  are those still in place for the GCR?  You mentioned eleven, and I’m wondering if I got it right or if you still cannot talk about that.
Tony:  So, DC, do you know what other countries to look at for the GCR?
DC:  We cannot really talk about those, but we can explain what we’ve been talking about and you can work it out for yourself.  You know the four we’ve been talking about all along;  the others won’t work out as massively as these four, but still will have nice returns.
Caller:  If I were to count from letter 9 in the alphabet…?  I don’t know if I’ll see or speak with you in Vegas, so I wanted to make sure I have this opportunity.  [Appreciation]
Tony:  I don’t know what you are talking about, but I like the way you count.
201 caller:  Are there any changes in the exchange or reserve policies?  If you were me, with reserves, how would you plan to exchange those reserves?
Tony:  Over the weekend, I did hear something, although we don’t know until we have the packages. I plan to exchange my reserves with a dealer/exchanger, taking whatever rate they offer.  iF something better came along during my appointment, then I will do that.
Caller:  It will take some time to get the reserves in hand, so we won’t have them at the appointment, probably.
Tony:  So you can exchange the reserves and take them to the appointment, and see.  At the moment, though, I would schedule the exchange with my dealer.  If the bank allows me to bring them in when I get them and exchange at a higher rate, then I’ll do that.
Caller:  Will this be on Forex?  Will exchangers have the same rate as the bank?
DC:  Not until early January on Forex.  The dealers will be on a similar schedule to the banks, maybe a few minutes delayed. 
Caller:  Do you think Dinarland will be finished by the end of the year?
DC:  I don’t know, but at least you should have appointments.
Skype caller:  Do you know the rate for the dong?  Is it still $1.02, or $2.17, do you know?  Don’t answer if it’s going to mess up something.
Tony/DC:  <laughter>
Caller;  Do you think this will happen before the 25th?  The banks will be closed that day.
DC:  Assuming Iraq finishes what they have to do tonight, it will go.  The banks will only work until noon on Christmas Eve, and they will be closed on Christmas Day. They’ll be closed on New Year’s Eve as well. So it depends on how quickly you can get in, how crowded your area is, and whether people in the  banks are on holiday because they have had enough of all this nonsense and will only come in when it’s a done deal.
Caller:  Also, we should only say IQN, VNN, and ‘exchange’, right?
Tony/DC:  That’s right!
818 caller:  Since DC became Winston, the whole plan became less mysterious!  If I have, say, 500K dinar, and if this happens before the beginning of the year, can I exchange part this year and part next year. Will taxes be the same?
DC:  We just don’t know what the tax situation will be.  In general, you pay the tax when you declare the profit or loss.  You’re worried if you hold off until the middle of January, will the rate be the same and the money still be there?  Yes, it probably will.
301 caller:  Because we are up against Christmas Day now, will be still be able to obtain some portion of useable money right away?
DC:  We understand everyone will have immediate access to some of their money.  Many have had access to 10% immediately, with 90% in 72 hours.  Some have had access to 20% immediately and the rest in 72 hours.  There is one bank that is giving 5% access with the rest in 24 hours.  So if you get before Christmas, you will have some spending money, and Santa will deliver the rest.
Caller: Will you and Tony go through the training and come back to us within hours?
DC: That is what we are being told now, that we’ll be around for 4-5 days.  Obviously, Christmas gets squirrely with the timelines, but that is what we hope will happen.
602 caller:  We are good as long as we get in before Christmas.  We don’t’ have to wait for the instructional calls, though, do we?  You’ll send out the 800 numbers right away…
Tony:  That’s what I understand… that you can call right away, and those who want to can wait for the instructional calls.  I am ready to send that tweet, believe me!
832 caller:  Tony, since we are this close to Christmas, can I buy my aunt in California a bus so she can drive it to the bank in LA?  She has friends, and she’s not in Texas, so…
Tony: As long as it’s a limo bus, not one of those yellow busses!
Caller: DC, it seems like everyone is negotiating when they get to go – Iraq, the banks, the US, etc.  We’re the only ones not negotiating!  They seem to think we are not educated enough to play the game.  Is that why they are holding us up like this, when everyone else is getting paid?  They say we are going to go before the public.  It feels very important, like if we get paid something might happen…
DC:  I’ve got about ten questions in there.  They never really anticipated that we would be an issue, that there might be a few thousand of us.  Now that there are 250K, they are asking themselves if we need a place at the table.  We are still a minor issue, and they genuinely believe they are acting in our best interest and Iraq’s best interest to insist ont his that and the other in financial or budgetary terms. They believe they are negotiating for us, especially since the Twitter campaign reminded them there are other parties in this. That is a cryptic way of saying that they think they have us covered.
Caller:  So why haven’t they got us out of the way?  If they did that, we wouldn’t do the Twitter thing;  in fact, we would no longer be any kind of threat.
Tony:  I hear all your questions, and DC is trying to be diplomatic. 
DC:  These are my friends I’m talking to!
Tony:  We weren’t supposed to be in this picture.  We saw something wrong, and we inserted ourselves into this picture. We did that very well, they came back, recognized us, and said we earned a seat at the table.  That was fair for us to do. But when we demand we exchange by X time “or else”, we don’t want to be in threatening mode.  When we did the Twitter campaign, we did it openly and transparently;  who is going to be negotiate for all of Dinarland?  With the numbers that we hear, we don’t have an argument. Our only reason to be at the table is “when are you going to pay us?”, that’s not an argument.  We cannot say “If you don’t pay us by Wednesday we are going back to Twitter”, well, the issues now are not about us.  We cannot hurt the future of all US citizens because we want to be paid right now. We are blessed to be in this at all, and we are being backed up by some great people.  It could be much worse.  I understand the frustration, believe me, but when we get the rates available to us, it will be worth the rate.
Caller:  I know we don’t go into the bear’s den and demand honey.  The negotiation I’m talking about this is rate-based.  There are people being exchange at the highest rate AND some have reserves.  I think they should give Dinarland a fixed rate of, say, $18, and across the board.
Tony:  They have already done that!  That’s what I’m explaining to you!  They said they will pay out (for example) between $9 and $30 and any number in between.  The banks are dividing that up between themselves. Who do you want to negotiate that for Dinarland?  I’m not in charge of that;  the moment you don’t get $18, Tony  will be in the wrong. We did that!  We negotiated from zero – when we were blocked out – to three dollars, to a percentage of the contract rate. We negotiated to where they are letting five million people stay in that process. TNT did that!  So I don’t’ understand what else you want us to do!
Caller:  I’m just trying to find out if there is anything else we need to do or say.  I have been with TNT for years, and I trust you.
Tony:  What’s holding it up is not about us, so how do we fight something that’s not about us?  If they don’t do what they’ve agreed to do, then we have something to fight.  We have people in key positions, and they will let us know if it’s not happening the way it should.
701 caller:  Long-time listener, first-time caller, and I’ll contribute again tonight when I get home.  I’m checking to see if there will be somewhere in North Dakota or if we’ll be taking a nice road trip to Minneapolis.  I’m in Minot ND;  we do have an airbase close to us, and Fargo is the closest big town. 
DC: IF there is a town over 100,000, they should have exchange capability;  smaller than that, possibly not.  I know that air force base, and the post exchange may have something, but I believe you may have to go to Minneapolis.
Caller:  Not a problem, that’s only 500 miles and it’s an easy drive.
DC:  I get that all the time in Texas.
Caller:  Any more information on limits for the dong?
DC:  I believe it will be 50 million for the dinar and also 50 million for the dong, last time anyone talked about it with me.
Caller;  Meanwhile, keep a smile on your face, a bounce in your step, and the heart of a champion!
972 caller:  I’m from Texas, and when this RV hits, I’m going to buy North Carolina and prohibit Tony from going there!  We’ll call it Texas 2…
816 caller:  If everything is taken care tonight, you will tweet 800 numbers, please tell me this is the last time I get up at 2am to check my tweets!  We could be in the bank tomorrow if this gets done today?  And is the Zim still in the same place?
Tony/DC:  It should be tonight and we’ll be at the banks tomorrow.  We understand that they will take any or all of those four currencies.  We don’t have the package yet.
Caller:  When you tweet out the 800 number, will you have the package then?
DC:  This could change, but what we understand at the moment is this:  this goes through whenever – for example, let’s say it happens at 5am. We’ll start getting phone calls. Tony will be asked to send out the 800 numbers, and he will send them out, and so will as other gurus.  They will explain the situation to us, and then we will explain the process to everyone else.  There will be four to seven of these instructional calls. We will not be allowed to give our opinions.  You can set up your appointments and then listen to us. They expect to have issues to come up.  When people are freaking out about paragraph B, we will be able to communicate that back to the banks, etc.
That’s how it is set up at the moment;  it could well change.  We may have a day of training, or it may be a phone call.  I plan to exchange as quickly as I can get in and I suggest that you do the same.
Caller:  On Friday some of us got excited because we thought you didn’t’ have the call as you were doing that day of training.  Hopefully we will be in the banks tomorrow and my grandsons won’t be disappointed.
770 caller:  They gave me a number so I could call a wealth manager;  he said for me to take what I had to the bank, but I wanted to ask you first.  They are exchanging;  they said they would tell me the rate when I get to the bank.  Before they said they weren’t exchanging, and this time it was different, but I’m waiting for that 800 number.
DC:  Ask the rate!  I suspect it might still be the old rate.
Tony:  The 800 numbers will go out on Twitter and as a Tony blast, so I hope you are on Twitter. 
Caller:  I’ll keep checking my Twitter account.  [Appreciation]
772 caller:  Everyone has been up in the air about this not taking place in a timely manner, but I know there are other things out there to deal with.  [Appreciation]  Is there anything you can give us that we haven’t asked about, that would benefit us?
DC:  There’s not much to ask in terms of what’s left with the RV.  I would ask about what to do in terms of expectations at the bank and afterwards. We are just waiting on Iraq to get the rest of its stuff done, then there will be the 800 numbers.  Then take a step back, review what questions you want to ask the wealth manager, and make sure you keep your wealth where it needs to be. 
Tony: There is last minute stuff as early as this morning, and they are basically saying they are ready to go.  Normal communications are being blocked between the US and Iraq.  I think there is a reason for that, that they are getting their communications ready.  We know some people are making appointments this morning.  Some in the intel biz are standing back. We were this close on Saturday, and really hope this goes through now.
Caller: What about the bank offering to raise your rates if you leave your money there for a period of time?
DC:  That is a bank option – they want to make money off your money, and that is great so long as they are making me money at the same time. Each bank has their own policy, and we just don’t know the details on that yet.
610 caller:  [Appreciation]  Merry Christmas!
917 caller:  Holy Cow – I’ve been listening for over a year and this is my first time. I want to chip in for luxury accommodations for Pam and DC under the bus.  In fact, I think you deserve a luxury bus of your own!   With this money, I want to give one-third back to the Iraqi people for humanitarian and cultural purposes, then a third to domestic projects to make a different, and the final third will be for me. 
Tony: That’s great.  I don’t know how you get it back to the Iraqi people…
DC:  There are many charities and outreach organizations through religious deals with missions to Iraq.  Also check the international aid folks who have missions to Iraq.
Caller:  Regarding the NDA, once there was a discussion about future amendments, sight unseen.  Is that still there?
DC:  How do you prevent an unreasonable request?  Most people won’t care about the little stuff.  If it is unreasonable, there is a litigation clause.  I would argue nobody wants to get into a lawsuit with a bunch of wary people who just got a lot of money, so the cooler heads will prevail, as they generally do. The only people who will sign the NDA are those with contract rates;  everyone with international rates will not.
Caller:  I’ve been around business and NDAs for a while, so it’s good to check.  If I am exchanging on the East Coast and my company is on the West Coast, it seems to me I’ll pay taxes where the entity is, not where I’m exchanging.
Tony: We don’t know for sure, but professional ball players pay local taxes wherever they play, and where they were paid. 
DC:  It would be nice to only play where your entity is located, but we just don’t know.  If it is a smaller chunk, nobody cares. If you are making a big chunk, everyone will be looking to get their piece of the action.  So it’s safer to put aside that state income tax.
Caller:  I will put that aside, for sure. Why are gift letters so important.  Usually you just give a gift and that’s it.  Is it about the change in value?
Tony:  You want to document that when you gave the gift, it was at the value you paid for it, NOT at what it may be worth tomorrow after exchange.  That way you don’t have to pay gift taxes. 
Caller:  I do want to go to one of your events!
Tony:  As soon as this goes, we’ll send out a tweet and you can sign up.
281 caller:  [Appreciation]  Whatever a man sows, that is what they will reap, and you have sowed excellence, patience and kindness.  You will reap good, not evil. 
Tony:  “No good deed goes unpunished.”
Caller:  But the blessings will outweigh those punishments. I have some rupiah – I just got back from Indonesia – will I be able to exchange that along with the others?
DC: The banks are planning to exchange rupiah.
Caller:  So now I have three currencies to exchange instead of two.  [chitchat]
209 caller:  I’ve been listening since before the “hot dog call”.  [Appreciation]  DC, you and I have the same birthday!  Why is it when we read the articles about how corrupt Maliki is, they are allowing him to remain in office like this?
DC:  Things get taken away.  He lost the plane a few weeks ago, and Maliki doesn’t have much power at this point.  They let him stay that long because he was the PM of a sovereign state. Whether you like President Obama or not, he is still the duly elected President of the US.  They couldn’t take out Maliki, but they could apply pressure to force legal political change through the democratic system.
Caller:  Tony, you have said that people have been sent to the call centers and the banks.  Do the banks even believe in this any more?
Tony:  For the last years, certain banks wouldn’t do anything.  Now those banks are taking action again, and even those banks have been exchanging in the last few months. Last Thursday were the last payouts, and all banks were doing that.  All banks are set up, with people in place, etc. They are looking for the same things we are, and they are seeing there is no excuse NOT to go.  Last week they brought in a lot of people and they had to let them go home again until the little issue was cleared up.  Everyone in the US had done what they needed to do until that last little brouhaha.
Caller:  I was banned from the TNT site, and the last article I posted (which I posted verbatim from the internet) was about the Congressional Spending Bill.  For that I was banned and I don’t understand why…
Tony:  Pam will look at the situation and get back to you.
281 caller:  Just hope all this happens before the end of the year, because my family really needs my help right about now.  Merry Christmas and Happy New Year.
Tony:  Let’s hope it happens by sunrise tomorrow – that’s what I’m hoping for!
754 caller:  Just want to say that when I get my blessing I want to open a group for girls who have been affected by substance abuse.
512 caller:  Merry Christmas and Happy New Year.  Let this thing get done!
626 caller:  [Appreciation]  My friend’s son has been listening to the call, and his comment was, “Hey, what took you so long?”  when he wouldn’t get off the call.  My wife and I both have dong;  is it better to go in together or separately?
DC:  Either way is fine, whatever if easier for you.
Caller:  I want to pay this forward.  I saw a program with a sheriff in Baltimore helping at-risk kids, and I’d like to do something similar in LA.
661 caller:  Are you confident this will finally go through?
DC:  They are meeting as we speak, and getting this done right now.  Being realistic, there has been a lot of last-minute baloney, so let’s be cautiously optimistic.
Tony:  I feel the same. We are getting from the highest levels that they want to get this done now and they are trying to get it done.
Caller;  Is anyone still trying to throw in a wrench to stop it?  Or just last-minute issues?
DC:  According to all my folks, no one is actively trying to stuff this up, but they do want the rules followed.  Everyone took the trash talk way too far out of context, that’s all.
503 caller:   [Appreciation]  I heard that the USA has not authorized the TRN yet, and that’s one of the reasons this has not gone forward.
DC:  It’s my belief that the Treasury Reserve Notes and the RV are not really related.  You have a note-based financing system set up, and that is totally different from the Iraqi dinar.  They are not related even if it would be nice to have them at the same time.  Many of these GCR adjustments are based on asset-backed stuff. The essential issue with the US dollar is that we are not going to be 100% asset-backed, although we can strive to get there with more/stronger reserves.  Our economy is too big and the dollar too wide-spread to ever be 100% asset-backed.  We will never to on the gold standard again but we can take steps in the right direction.
Caller:  Do we need to be aware of anything in the NDA or contact?
Tony:  The NDA is with Homeland, and the contract is with the bank.  They are separate deals.  The NDA will probably be the same everywhere;  the contract will be different at each bank.  See what you are willing to risk, as to what you will sign. I don’t’ see the banks failing after this influx of money AND the recent bill in Congress.  I don’t’ see it as risk; it’s just control.  I don’t’ think the banks are trying to rip you off.
DC:  I hope we are done.  To summarize, we believe Iraq got more updates, they are still working on this as we speak and expect to get it finished tonight.   Let’s hope and pray this is done!
Pam:  I was hoping they were shutting us down because we k now how close we really are.  Take your time and consult your professionals!
Ray:  Continue to enjoy Marvelous Monday, and I can’t wait to start missing you all!
Tony:  It should be only a few hours;  if not, we’ll have another call. We do need to pay the bills.  All week we’ve been hearing ‘this is it”.  Make sure you are signed up for the tweets.  I hope this is our last call.  I’m feeling excited;  tomorrow we’ll be over the top! 

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