Highlights of Tony's CC, Wednesday, July 29th. Updated as the call progresses.
Tony: I could say everything is done but you've heard that already. Parliament met . . . voted and passed all the laws. Investment law and all other banking laws passed yesterday, but yet to be announced. Announced at time of RV and everything else.
CURRENT WINDOW: Tony: They feel they will see it no later than Saturday. Plan is for Iraq to be International by Saturday. . . . Could be two hours or two days, but by Sunday. Don't expect we will see it until Monday.
Tony: Holiday this weekend. This is a critical four day holiday. Four day window . . . which is what they have always wanted. We don't know the moment in time. . . I'm hoping we know on Sunday. Have promised it will be done by Sunday. . . Nothing negative out there.
IRAQ: Tax laws take affect Saturday. They will be taxing everything; cars, boats, phones, etc. The council of Baszra refuses to renew the application on tariff laws. Going to Baghdad and tell them they cannot afford to do this, but by the time Saturday comes they will be able to do it. Tony thought counterfeiting law had been passed previously but it might have been in yesterdays actions.
- Bond Sales: Tony: My understanding it won't happen until the RV. Hearing bonds to be paid out. The bonds are always two days after the RV. The Bonds do not feed the RV.
- Citizens this a.m. are in the streets, protesting and upset. Tired and frustrated waiting for this. Some citizens have money on their card, but not all citizens.
- Due to high temperatures, Iraq has declared a four day holiday from Thursday, July 30th thru August 2nd.
- Public Announcement: may not see for days. Banks will know. Tony is sure he will know.
Maliki: Tony thinks is still in Baghdad.
- Contractors: some contractors got paid in Nov and other between July 1 and 15th. Paid from the country of Iraq, $3.41.
INTERNATIONAL: The end of the month, the UN operational rates come out/are updated.
- Rates Tony was asked NOT to discuss rates today.
- Taxes: 1st Caller: said he'd talked with someone involved for over 30 years, started west coast office (of?) and is a Dinarian, who said it is absolutely illegal to tax an exchange of currency. Tony asked how they are they able to state in tax instructions anything over $200 is taxable. The caller is to get back to Tony with info. 2nd Caller: Tax law says, when you go out of the country and come back in over $200 is taxable. We didn't go out of the country and we did not come in. So if anybody pays taxes on it, it's the people who went out of the country and brought it back. It says, "when you come in from out of the country." I have friend with IRS and he said no, you won't owe taxes on it.
PAM: Again, want to thank everybody. Remind you to take your time. Do not set your hair on fire and run around like cray. Know more than you think you know. Relax. Donít you financial advisors, attorneys you find on line. Make sure you do your due diligence. Youíve heard enough about scams. Need to be careful. Your going to be gazillionaires. . . .Thereís a target on your back. Be careful.
RAY: Somebody up here has a big mouth. Messed up good deal I had going with Vegas Chamber of Commerce. They were sending me a big check. . . Continue to enjoy your ďwhen am I going to see it Wednesday.Ē Letís see what happens as the week unfolds.
PAM: They are joking everybody!
TONY: I donít know if this is our last call or not. But it has very good potential to be the last call like this. What I can tell you is, we are going to be here to help you as long as we can. Advise you. If we do the final call the way they wanted us to, then we will do that. We here to pass info onto you.
If not restricted Iíll be here next 10 days. Have not seen NDA to see exactly what it says. Be here to help you as long as we can. We have discussed a million different ways to do this; time frames, sideways. Things change. Just take your time. Listen and think about it. Stop and think about it.
I try to go 10 steps out. If I do this . . . and this . . . and this. This is where I want to be. At $100,000 means I need to make $10,000 month. . . .Thatís $300 day. How much an hour? $35 an hour. Break it down. Where do you want to go? How do I get to it?
I want to get to this rate. Go to my manager and tell him when it gets here, sell. Or I need to be here in the next four years and have them explain how we are going to get there.
Nothing is 100%. A lot of successful people have failed their way to the top. You need to know you understand it 100%. You need to know what your trying to get out of the situation. Itís all negotiation. Depends on you how hard you want to negotiate or go from one bank to another.
Weíve discussed all these things for months . . . for last five calls. Once you get that text, life will never be the same after that moment. That time could come anytime today or Friday. All the way to Sunday is what they are saying. Hope nothing else gets in the way.
All around the world, different banking systems, different governments say they are ready.
Hope you enjoy your day. Be here Friday. Do the call. Thanks everybody.