Highlights of Tony's CC. Updated as the call progresses
TONY OPENED THE CALL WITH: Everything is great. It’s on time. Budget in today's Gazette. Make a difference for you in 72 hours. Will not be an RV announcement. . . several sources say it's in the Gazette. Being broadcast it's official and in the Gazette. Being broadcast it's official and in the Gazette. Iraq may enjoy the first 48 hours themselves.
Announcements expected later today from Christine Legard and Dr. Abadhi speaking on the economy and middle east. President Obama speaking at 3:30 EST.
DC: I am looking for it tonight . . . among several days. Budget may say .1166 but within days it could change. I will be shocked if it is not .1166. . . . the US has always like a 3 day weekend and it's fully expected to occur.
CURRENT WINDOW: Tony: We do have confirmation it's in the Gazette. May see tomorrow morning.. . don't see this going past Thursday, Friday.
IRAQ: In a comfortable place and continuing to settle some banking laws and issues.
- Budget - OFFICIALLY published in the Gazette.
- CBI - RI or RV? (RI: reinstate the old rate) The options are: 1) let it float on the FOREX; 2) RV it later 3) the CBI could maintain it at a fixed rate.. DC: We understand it's an RI . . . Shabs stiill has the option to RV . . . could be a week after . . . and could be 10 cents . . . . or he could raise it up high. . . could double or triple . . . these are options.
- Media/TV: broadcasting the budget is official and in the Gazette
INTERNATIONAL:
- RV/RI Release: Likely happen in the middle of the night. US administration, congress notified. We will be notified fairly shortly after. Most of agencies will not be notified until after its' done . . .the ramp up will take several hours or entire day - may still go in that day but all are getting act together. If it's an RI the contract rate will still be available. DC: Tonight is one of several days I'm looking for. Once we verify . . send out a tweet . . .other gurus will be contacted .. we will be able to do at least a call .. don't know if it will be then or hrs after .. still don't know how involved we will be.
- Rates: Tony: ZIM, 11 cents; Rupiah, $1.05. DC: I said ZIM between .06 to .18.
UNITED STATES:
Contract Rates: DC: contract rates offered to some groups and initial bank deals. Do not know how much. Reassured this morning again the general public will have access to the pool. . . .some will be as high as $28 . . . some get high rates and others real good rates. No, it’s not fair some get it and others don’t
Banks: One bank to handle the appointments. Each bank will be handling their own exchange. DC: Some banks do not want to deal with this - the headaches, frustrations. . . . there are other options Trust companies, brokers, etc. . . My cynical interpretation is all of this will crash and it will go to hell. 30,000 phone calls at one time will crash 800#. Expect their websites to crash. 50,000 requests on your server will nail it. . . .talking 100,000 at a time in 36 hours. . . . everyone needs patience. . . they'll manage to get thru the initial chaos.- Wealth Management: There are different needs and goals for those with 1 million or less and increments of 5 million and above.
- NDA / 800#: At minimum Tony and DC will do one call and possibly over several days. One call per appointment and that call is limited to two minutes. NDA between 4 - 6 pages and DC said it's simply laid out. If you cannot be absolutely silent do not sign. (which means you take the International rate - not contract)
EXCHANGING can with a bank or an exchanger/dealer:
BANK EXCHANGING: most banks will try to do in 3 days and some will take longer.
- At the Appointment: Set up account, run thru de la rue machine if they have it or verify through other means. Put it in a plastic bag, sealed with your name on it and place it in their vaulted where it will later be counted and double checked. Some banks will allow you immediate access to cash or $10,000 and within 72 hours have 100% access and done.
EXCHANGER/DEALER:
Exchange companies will have 800's and their web site’s can be used to set appointments. If you exchange through them you will not pay the bank fees and you can have the funds wired into your bank account. You can expect your account balance will trigger calls from the wealth management departments of the banks.
