Highlights of Tony's call updated as call progresses - Sunny
Window is now!!!
DC: So it is Friday, so they are gonna let the internet go and not wait 72 hours. . . should have a fixed rate until January 2nd.
Tony: . . . soon as all . .. fixed, then they are going to do it. . . No payouts scheduled yesterday cause they all thought they would be doing them today. Not yet doing them today. Hope something happens today and throughout the weekend.
Tony: Not telling you great news. We don't feel comfortable telling you right now. . . This morning they said they would blow through Christmas and keep on going.
IRAQ: Teams of people from the UST, Federal Reserve, Bank of England, Chinese component and other locations, all have people in Iraq making sure everything is okay and coordinated.. They also are coordinating everything with Iraq, Switzerland, China and Asian countries. Tuesday they buckled down making adjustments to procedures and technical issues. They had their three day break. A few riots because frustration is high this has not gone through.
- ISIL in defense mode. It will take awhile to get rid of ISIL.
- TV is saying economic reforms ending very soon and completed upon release of the budget.
INTERNATIONAL: Every country will do their own exchange procedure.
- Everything in one basket – All at one time – No second basket.
- Anti-corruption scored another win.
UNITED STATES:
- Banks prepared for this going through. The technical side has been working with teams in Baghdad, Washington and Switzerland. People are still on call. Dc said the banks have legal issues and are in a precarious situation. Because they don’t want the info to get out people are signing “horrendous NDA's and work agreements” similiar to those who work in intelligence.
- Exchanges going on since mid Oct. We don't have concrete evidence before that. Since Oct 13 thru now they've been paying out through forward based contracts. At Halloween they reached a point and said we'll start exchanging people, but with the real system.
- Leaks: Information is leaking out. DC – “like a colander.”
Tony: They are leaking info to us to get us paid fairly. Just giving us the info of rates, how it's paid, whose getting paid, locations, . . .
- Rate comes from a pre-agreed contract with China and whoever else is buying dinars. The average rate, for the past 45 days, has been coming from CBI at $3.58.
- Misc. Notes: If Iraq does RV but US holds back release of Dinar for 3 days, the Dong cannot be exchanged in the interim.
- 800#: we understand is the internet ppl will go and then the general public will find out through internet people calling friends, family, etc.
Caller: How do we know they are telling us the truth?
DC: We don't! Often times they are given inaccurate information and it's about figuring out how it goes. . . We put it off to the side and say where does this fit at. Do I think my guys are lying to me? No I don’t. Maybe they were given bad intel. I believe some info is inaccurate. The situation changes often . . . they give the most info they have at the time.Some folks are intentionally getting misled.
Tony: Even when they give us misleading info, they don't know they are giving us misleading info.
CLOSING STATEMENTS:
DC: Wonderful weekend. Everybody singing the same tune across the world. USl CBI, IMF, Bank of England, other countries, technical/procedural staff of banks across the world. . . all working together. Minor issues . . . being addressed quickly. Our understanding is it will go as soon as last issue solved and nobody to go home until it’s done. . . .Think everything looks really, really good.
Tony: I think it’s superfantastic. Everything we are hearing is push, push, push. Washington, DC is now questioning why it’s not finished yet. Saying hurry up, let’s go, let’s go. . . .Looking really good. The best we’ve seen it. Don’t think we have been this close, with many people agreeing and transferring people . . . to make sure it gets done. Nothing messes it up we will have the next best weekend we’ve ever had. If something happens I will tweet it out. Hope we have a conversation this weekend. Enjoy the rest of your day.
