Highlights of Tonys CC. Updated as the call progresses
Tony Closing Words: Not planning on being here Friday. That’s a BIG hint. Not planning on it!!!
Tony: Rest of the budget could be released today, tomorrow followed by the RI. . .So when is the perfect timing? It could be right now, . . could be Friday morning in the mosque . over the weekend . . . could be to coincide with March 1st when tariff laws were to go in to effect - but we are that close.
DC: In meetings
CURRENT WINDOW: It's all over the place: Iraq telling their people the economic reforms are to be completed by Sunday and telling the citizens will see by Friday. Tony: Could it happen an hour or two from now? Yes, but the time frame I've been given is a little longer.
IRAQ: Parliament meetings were held and agreements reached yesterday. Iraqis people are tired of this dragging out and what they are being told. Tired of "imminent." The citizens are hearing by Friday you will see this.
- Budget: Tony had a guy walk over and look at and review the budget published today. It is published but not publicized. The portion put out for the public today is still incomplete. There were 38 subsections missing and now down to 16 subsections that are not yet listed for the public to see yet.
- De-dollarize: No USD is being used in Iraq. Hearing a 10 day process and if so that would end Friday morning.
- TV/Mosques: Saying economic reforms to be completed this week. Telling their people right now this will be done by Sunday. Told them previously when the banks re-opened they would have their currency.
- Banks closed yesterday and today. Due to open tomorrow.
- Security: The $10,000 limit of currency that could leave the country has been dropped to $3,000.
- ISIL: 5 - 6 cities have been recaptured from ISIL.
- Kurdistan: Saying they are making payment to them today.
- Tariffs take effect March 1, 2015.
INTERNATIONAL:
- Rates: Tony: Rates are back at the bank screens. Certain currencies showed up with the numbers where we thought they should be.
- Zimbabwe did revalue yesterday. Tony said they called banks and even other countries and they said Yes, the Zimbabwe currency rates had changed. Tony understood the rate to be $5 per every 35,000. Due to Zimbabwe issuing multiple currencies over the past few years so now their are three different rates for four of the different issue currency. Tony: There are now four codes: ZWL, ZWR, ZWN and ZWD. (some transcribers typed ZWM - it was hard to discern.) When exchanging ask to see rates for both ZWN and ZWD. (OKrocks said, "ZWR AND ZWN IS MY UNDERSTANDING").. If banks do not exchange try a broker. Tony said, while the banks want your business if you ask for the wrong currency or give them the wrong information, they will not process you; will not exchange you. To be careful what you do. Tony: The 2008, most of us have, will fall under ZWD and ZWN, as I understand it. I heard someone got paid out yesterday but banks telling us they don’t know what to do with it. This morning hear ing they think it was too much and going to change it.
UNITED STATES:
- Banks: were scheduled this morning at 7 am. Personnel has been called in and others are on alert again. US Bankls being Basil III compliant Tony said is a non-factor.
- 800#’s/Packages: The process keeps changing. Have said four days and other times have said seven days. Tony says at least two banks have told their personnel they would be in competition with other banks. Want their rates to be higher than other banks. They want you to call their 800#'s but Tony suggests calling all of them for rates and says it does not make sense to do this if they are trying to get us all through in 72 hours. A half percentage more could mean hundred thousand dollars, etc. Could be different incentives with each bank.
Bond deal process over the weekend in anticipation of this going Monday. SKR’s on Monday and Tuesday anticipating money being wired on Monday /Tuesday. that has not happened yet.- Contract rates: will be some for the general public. They have lowered the cap/maximum anyone can exchange from 50 million dinar to 20 million so more people have access to the contract rates.
- Exchanging: Call the location first. Seems many of the airport exchanges are now inside security.
CLOSING STATEMENTS:
PAM: Remind you, you can Google, search Internet for Zim currencies. Find pictures by googling images to see what you have. Remind you we are here. You know more than you think you know. Relax. Be flexible. Think about it you’ll know what to do.
RAY: I’m just going over to “finally going to see it Friday.” But enjoy Thursday. Be on the look out! Be ready!
TONY: I think everything is great. We’re in a great positon. Telling them budget fully published even though parts left off. . . 17 items won’t be made public until RI takes place. . . not to give people a heads up. . . along with that, banks notified people to be on alert. In Iraq telling their people hold on, . wait. It’s about to happen. . . this week. . . You’ve been here long enough to know when there week ends and begins. They’ve told them this before. Inside people we talk to are looking for this between today, tomorrow and Sunday. Everyone projecting pushing towards that. Looking very good in the next 72 hours for this to happen.
Payments to Kurdistan to go out today. Waiting for RI to pay people there monthly salaries. That time is here. De dollarization taking place. They stopped auctions since last Tuesday. No money coming in. Changing bank procedures. It’s why CBI not selling currency any more on a daily basis. This is all telling you this is about to happen.
Enjoy your day. Anything happens we will tweet it out. Not planning on being here Friday. That’s a BIG hint. Not planning on it!!!
