TNT CC Cliff Notes - 3-27-15
T - GOOD MORNING, TNT. TODAY IS MARCH 27th, 2015 - WE'RE GOING TO HAVE A GREAT CALL TODAY. LOTS OF INFO. WILL BE CONFUSING FOR A LOT OF PEOPLE BUT NONE-THE-LESS IT'S GOING TO BE EXCITING.
DC - HI GUYS. HOPE EVERYONE IS HAVING A GREAT AFTERNOON. THINGS ARE NOT MUCH DIFFERENT THAN IT WAS FOR WEDNESDAY. IRAQ IS ABSOLUTELY READY. THEY DID THE SAME THING IN THE MOSQUE TODAY THAT THEY'VE DONE AT LEAST 12 TIMES, AND TOLD THEM TO PAY ATTENTION TO THE RADIO. AN INCREASE ON THEIR PAYMENT. THEY HAVE INCREASED SOME OF THEIR PAYMENTS - NOT MUCH. THEY'VE KIND OF PUSHED THAT AS FAR AS THEY CAN, AND THE NEXT ROUND IS THE WHOLE PUBLIC RELEASE. MINISTRIES AND CBI PREPARED AND READY. EVERYTHING ELSE IN COUNTRY IS GOING WELL. INTERIOR MINISTRY IS GOOD PREPARED AND READY AS IS THE FINANCE MINISTRY, DR. ABADI'S OFFICE, COUNCIL OR MINISTERS, ALL THOSE GUYS ARE GOOD, PREPARED AND READY. THE FEDERATION COUNCIL ALL THOSE GUYS HAVE BEEN BRIEFED ON THEIR PLANS.
DC - PARLIAMENT MET ALL WEEK AND THEY HAD DISCUSSIONS ON THE LAWS INCLUDING HCL AND AN UPDATE FOUR DIFFERENT THINGS - THIS PAST 48 HOURS - MINOR GLIMPSE - THEY'VE HAD A TWEEK AND A MINOR UPDATE IN THE HCL. IS THAT WHAT THEY'RE WAITING FOR? WAITING ON OUR TREASURY AND ANOTHER FOLKS IN A FOREIGN AGENCY. WHAT THEY ARE PUSHED THROUGH PRIMARY GOVT AGENCIES AS WELL AS THEY ARE PUSHING THAT THIS INDEED WITH RECOMMENDATIONS WITH THE IMF - THESE FOUR OR FIVE ITEMS - THEY SAID FINE - LETS DO IT. WHAT THEY ARE PUSHING THROUGH, BOTH IN THE US AND OTHER COUNTRIES, THEY GOT UP TO THE PLATE ON WEDNESDAY AND SEVERAL OF THE FOLKS - THE US, IMF, BIS SAID, IT'S NOT REAL CLEAR ABOUT 4 OR 5 ITEMS AND WE'D FEEL A LOT BETTER IF WE VOTED ON IT.
DC -A STRONG ARGUMENT FROM HIGH PEOPLE THEY ARE TRYING TO BRING EVERYONE TOGETHER - DO I FIRMLY BELIEVE THAT - I BELIEVE THAT IT IS VERY CLOSE. DR. SHABIBI SAYS JUST DO IT. ISIS - US HAS TAKEN OVER A LITTLE MORE ROLE IN TIKRIT AND HAVE HELPED TO PUSH OUT. ALL THE MINISTRIES ARE READY: PARLIAMENT MEETING ALL WEEK - AND WE UNDERSTAND THAT FROM ONE SIDE OF THE WORLD THAT THEY WOULD LIKE A TWEEK. SUMMARY; ALL MINISTRIES ARE READY. PARLIAMENT HAS BEEN MEETING ALL WEEK AND THEY WOULD LIKE SOME MINOR TWEEKS AND A FEW THINGS THAT NEED FED. COUNCIL. ARE WE WAITING ON THAT ? I AM NOT TOTALLY CONVINCED.
T - GOOD WEEK IN IRAQ. THEY FINALLY LINED UP ALL BANKS. IRAQ HAS TOLD PEOPLE IN MOSQUE THAT THIS IS THEIR WEEKEND AND THAT FINANCIAL CRISIS WILL END FOR ALL IRAQI CITIZENS. IRAQ HAS TOLD THEIR PEOPLE IN THE MOSQUE THIS WEEKEND AND CRISIS WILL END FOR ALL CITIZENS. WE KNOW PARLIAMENT WAS SUPPOSED TO MEET YESTERDAY AND THEY CHANGED IT TO SATURDAY TO VOTE ON SOME LAWS. PARLIAMENT WAS SUPPOSED TO GET A BRIEFING OF WHAT IS SUPPOSED TO HAPPEN. THEY CAN DO THE RI BEFORE - BRIEF THEM - EVERYONE IS GEARED UP. WE HAVE TWO OPTIONS: BASICALLY THEY CAN DO THE RV BEFORE - THEY CAN GO IN AND BRIEF THEM ON IT. EVERYBODY IS READY OVER THERE. THEY CHANGED THE RATE SLIGHTLY AND WE'RE GOING TO GO OVER THAT IN A MINUTE. THEY'RE ALL READY TO GO. PEOPLE AT EVERY LEVEL. WE'RE TALKED TO PEOPLE INVOLVED IN THE PROCESS THIS MORNING - IRAQ IS GOOD.
DC - IN THE US - BANKS ARE READY. SOME FOLKS IN THE ADMIN ARE VERY STRONGLY IN THIS IS IT FOR THE WEEKEND - THEY'RE VERY STRONG OPINION IS THAT THIS WILL HAPPEN AS SOON AS BUSINESS CLOSES FOR THE WEEKEND, WE'RE READY TO GO. I'M IN THAT CAMP MYSELF. WHY? THE BANKS ARE PULLING ALL THEIR PEOPLE IN. I'M A BIG BELIEVER IN ACTIONS AND NOT WORDS. AND BANKS ALL OVER THE WORLD ARE PULLING ALL THEIR PEOPLE IN - THEIR EXCHANGE PEOPLE AND THEY SECURITY STAFF. A LOT OF THEIR EXCHANGE PEOPLE AND THEIR TECHNICAL STAFF AND SECURITY - PLANNING TO WORK LATE TONIGHT. MANY BANKS ACROSS IN EUROPE - I AM WATCHING THEIR FEET - THAT IS SAYING THEY ARE FULLY PREPPED FOR THIS WEEKEND. THERE IS ALSO THE BANKING PROCEDURES WHICH TONY AND I WILL GET INTO WHICH WE FOUND OUT ABOUT LAST WEEKEND.
T - OKAY GUYS. WE'VE BEEN HAVING 3.91 NOW ITS UP TO 4.10. THE DONG HAS BEEN 1.57, 1.77 - THE ZIM .15 - 18. WHEN THEY SAY THEY'RE GOING TO BE COMPETITIVE, IT LOOKS LIKE THEY'RE GOING TO BE COMPETITIVE. BANKS HAVE BEEN HAVING MEETINGS TODAY AND LAST NIGHT, INFORMING PEOPLE OF THEIR NEW PROCEDURES. AS OF TODAY, WE WERE TOLD WE ARE GOING TO GET A PACKAGE THIS AFTERNOON. EACH BANK IS GOING TO HAVE THEIR OWN PROCEDURES. THAT'S ALL THE GOOD NEWS. NOW DC IS GOING TO BRING THE BAD NEWS. BANKS HAVE BEEN HAVING MEETINGS TODAY AND LAST NIGHT, INFORMING PEOPLE OF THEIR NEW PROCEDURES. EACH BANK IS GOING TO HAVE THEIR OWN PROCEDURES. THAT'S ALL THE GOOD NEWS. YOU GUYS LISTEN CAREFULLY AS WE WILL TRY TO UNDERSTAND WHAT WE ARE HEARING YOU WONT LIKE IT BUT IT DOES MAKE SENSE AND I AM NOT DEFENDING ANYONE AND I AM JUST SAYING LISTEN AND SEE IT MAKES SENSE TO THE WORLD
DC - THERE ARE SOME FOLKS THAT HAVE A TREMENDOUS AMOUNT OF RESERVES - ESPECIALLY IN THE PAST THREE MONTHS - ONE PARTICULAR BANK IS HAVING ALL SORTS OF MEETINGS ABOUT THIS - THEY ARE REALLY TRYING TO CURTAIL IT AS THEY THINK THAT IT HAS GOT OUT OF HAND. I CALL THESE GREAT PROBLEMS TO HAVE. HERE'S WHAT'S HAPPENED: THERE ARE SOME FOLKS WHO HAVE A TREMENDOUS AMOUNT OF ALL THE CURRENCIES. IN TWO PARTICULAR STATES, TEXAS AND GEORGIA. GEORGIA HAS MORE THAN ANYONE - TEXAS A RIDICULOUS AMOUNT. SO BASICALLY WHAT THEY ARE TRYING TO FIGURE OUT - CAN THEY MODIFY THE PLAN THAT THEY ALREADY HAVE IN PLACE TO APPLY SPECIFICALLY TO TEXAS AND GEORGIA - THEY HAVE NOT BRIEFED EVERYONE AS TO WHAT TO DO. WHEN PPL HAVE A LOT, YOU CAN HAVE THIS MUCH LIQUID IN YOUR ACCOUNT. THE REST A 15-20 YR PAYOUT ~ WILL ONLY GET A MAX AMOUNT AND AGREE TO A CAP. ~WORLD WIDE.
DC - THEY HAVE, BUT THEY HAVEN'T BRIEFED EVERYBODY. SO WHAT WE MEAN, IN SOME CASES WHEN PEOPLE HAVE OVER A LOT OF CURRENCY - THERE IS A CAP. AND IN SOME CASES YOU'RE GOING TO HAVE TO AGREE TO A 20, 50 OR 100 YEARS PAY OUT. ESPECIALLY IN THE CASE OF THE ZIM, YOU'RE ONLY GOING TO GET A CERTAIN AMOUNT THEN YOU HAVE TO AGREE TO THE 20, 50, 100 YEAR PAY OUT, AND YOU DON'T HAVE A CHOICE IN THAT. IN TX AND GA THEY MAY MAKE THOSE AMOUNTS LESS THAN IOWA. IT IS THE STATE THAT HAS THE LEAST AMOUNT OF DINAR. MAYBE IN SOME BANK WHO ARE MAXED OUT THEY CAN ONLY DO 80 OR SWITCH TO ANOTHER BANK. AND YOU CAN'T GO TO SWITZERLAND OR ELSEWHERE -- HYPOTHETICALLY, FOR INSTANCE, THERE'S A 100 MILLION DOLLAR CAP ON ZIM. IT'S NOT THAT, BUT JUST FOR INSTANCE. SO MAYBE IN TEXAS AND GEORGIA THEY'RE GOING TO SAY YOU CAN ONLY DO 80. I DON'T THINK IT HAS BEEN SOLVED FOR TX AND GA. BE MENTALLY PREPARED. THIS IS A GOOD PROBLEM TO HAVE. IT IS STILL AN INSANE AMOUNT OF MONEY. SOME ARE TALKING INFLATIONARY PROBLEMS. THAT HAS BEEN DISCUSSED. THEY DON'T BELIEVE THAT IS A BIG ENOUGH PROBLEM. IT WILL BE "CRY ME A RIVER, WE DON'T CARE". WE ARE TRYING TO PRESENT THIS IN A LOGICAL MANNER. IT MEANS MAX TOTAL THAT IS WHAT YOU WILL HAVE ACCESS TO. IN TX AND GA THE ENTIRETY OF WHAT YOU ARE TRADING IN. NOW, WE'RE TRYING TO PRESENT THIS AS NICELY AS WE CAN. WE'VE HEARD IT'S JUST THE ZIM AND WE'VE ALSO HEARD THAT IT COULD BE A CUMULATIVE TOTAL OF ALL THE CURRENCIES.
T - OKAY LET ME GO THROUGH WHAT HE'S ALREADY SAID. GUYS FIRST OF ALL WE'RE HEARING THIS IS THE NEW PLAN. WHETHER IT'S FINALIZED OR NOT, WE DON'T' HAVE IT IN WRITING. WE HAVE THREE OPTIONS THAT WE KNOW OF: 1. THERE CAN BE CAPS ON JUST THE ZIM. 2. THERE CAN BE CAPS ON ALL THE CURRENCIES AT A CERTAIN $ AMOUNT, AND 3. IT CAN BE RESTRICTED TO CERTAIN STATES. WE'RE NOT SAYING THIS AS A MATTER OF FACT. WE HAVE 3 OPTIONS THAT WE KNOW OF. THERE CAN BE CAPS ON JUST ZIM, OR CAPS ON ALL CURRENCIES AT A CERTAIN DOLLAR AMOUNT ~ ALL 3 CURRENCIES AND TAKE STRUCTURED PAY OUTS, OR RESTRICTED TO CERTAIN STATES. THE LIMIT HE GAVE YOU AND WE HEARD IS TOTALLY HIGHER. MUCH HIGHER THAN 100 MILLION.
T - WE DON'T KNOW WHICH BANKS WILL APPLY THAT. ONE BANK WILL HAVE MORE CUSTOMERS. TIER 2 AND 3 MAY HAVE SOMETHING DIFFERENT. IF YOU HAVE TO BREAK YOUR CURRENCIES UP, WHO WOULD YOU DO IT WITH. THEY ARE DISCUSSING THIS, THIS AFTERNOON. THE LIMIT IS MUCH HIGHER THAN 100 MILLION AND WE DON'T KNOW WHAT BANKS IT APPLIES TO. TIER 2 AND TIER 3 COULD BE ENTIRELY DIFFERENT. IT IS BASED ON YOUR AMOUNT. SOMEONE SHOWED UP AT THE BANK AND THEIR WHOLE BACK SEAT WAS FILLED UP WITH CURRENCY. THEY SAID WE CAN'T PAY YOU ON THIS, IT IS TOO MUCH MONEY. WE WILL PAY YOU OUT IF YOU DO THIS STRUCTURED PAYMENT. THIS DOESN'T APPLY TO EVERYONE. NOT THE MAJORITY. THERE ARE ISSUES WITH TX AND GA. FRI, SAT, MON, GEORGIA WENT ON SHOPPING SPREE WITH DONG. THEY SAID IT WAS TOO MUCH IN THAT ONE STATE. IF THEY CAN'T AFFORD TO PAY YOU, YOU WILL HAVE MONEY FOR A LIFE TIME. AGAIN, IT'S NOT THE AVERAGE PERSON. IF YOU HAVE 10 MILLION DINAR, WE'RE NOT TALKING TO YOU. IF YOU HAVE 20 MILLION DINAR, WE'RE NOT TALKING TO YOU. IF YOU HAVE ONE ZIM NOTE, WE'RE NOT TALKING TO YOU.
T - THE RATE IS 4.10 IN ATLANTA, IN MINNESOTA , NM, NEW YORK. THE DIFFERENCE WILL BE EXCEPT IN ATLANTA. YOU WILL GET THAT 200 MILLION. BECAUSE OF THE SHEER NUMBER OF PPL. THE SHEER NUMBER OF PPL IN TX AND GA. YOU WILL GIVE IT TO YOU OVER A LONGER PERIOD OF TIME. YOU WILL NOT LOSE MONEY. FOR THOSE WITH HUGE AMOUNTS OF CURRENCY, THEY ARE NOT GOING TO LET YOU BE RICHER THAN BILL GATES. JUST SAYING, THEY ARE NOT GOING TO LET THAT HAPPEN. OKAY ARE WE READY. INSTEAD OF ACCEPT STRUCTURED PAYMENT.... YOU CAN GIVE THIS AWAY.
DC - THIS A FREE COUNTRY. YOU CAN GIVE THE CURRENCY AWAY. YOU CAN GIVE IT AWAY. YOU CAN'T GIVE IT TO SOMEONE YOU STILL HAVE CONTROL OVER. THESE RULES ARE NOT MEANT TO BE OPPRESSIVE, BUT ARE MEANT TO BE FOLLOWED. PPL WHO DID DOUBLE DIPPING GOT NAILED. IT YOU TRY TO SKATE AROUND THIS IN AN ILLEGAL WAY, THEY WILL GET YOU.
