Disclaimer: I am not a professional transcriptionist. Some liberty has been taken to summarize or paraphrase according to my understanding of the key highlights that were heard, without embellishing or changing the context and meaning. I have attempted to protect the accuracy of Mr. Koonce's responses. Please accept fragments and spelling errors for the sake of time effectiveness.
Gratefully,
Love’s Love
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Currency Chatter Conference Call
Randy Koonce
Saturday, July 9th, 2011; 5:00pm – 9:00pm est
Koonce Speaking: I will try to give synopsis up to this point. Very important to preface before I start
Not necessarily Rhetorical Question:
Koonce asks: What does Shabibi have to do or have….. in order to RV?
Koonce Answer: The answer to that question is…..Not one thing. All of the things that have been required of Shabibi, have been required by Shabibi himself.
No computers, no GOI, nothing. Not a single thing. Shabibi is the one that stuck the requirements on himself….I believe, because he Loves his country. Shabibi knew that whenever this money shows up…and IF whoever has the power is a dictator when the RV occurs, he would stay in power as a dictator, and Shabibi doesn’t want that. So there is not a thing that needs to be done to pull the RV Trigger.
He could have done the RV at anytime. Shabibi doesn’t need massive computers; Didn’t need Chapter 7 released, didn’t need GOI fully seated, didn’t need all the things we assume somebody else has requirements.
History Summary Sketch For Broad Perspecitve: (Pardon some choppy garbled explanations..transcription difficulty)
Taking us back to July 2010, end of June 2010, Biden shows up and explains to Iraq leaders… Biden opens his mouth, because at the time Allawi has 2 votes on Maliki, and it really looks like Allawi is going to get US Govt support, but Allawi has not garnished enough Parliament votes for the 222 votes to control Talabani & Maliki (Allawi could get 150-160 but not enough for the 220 he needed). So US shows up with Barzani Power Share deal…. We’re watching this in July thinking hey in another month or two, this thing is over… Barzani shows up like August, some UNSC Meetings seemed important around August 7th or so, and we really thought that they could get their agreement, get the chapter 7 released, pull the RV trigger along with GOI completed, and this could be done by about August 3rd or so…..then we hit Ramadan is on during week of Aug 18th , which is kind of a working holiday week but kind of shuts them down; we thought they were going to get GOI and power share deal …to RV soon, and then we get through September …and then October
Maliki did everything he could to stay in power as Prime Minister but he lost the election. So what they ended up doing, at the end of November 2010, The Barzani initiative or also known as the Erbil Agreement, they decided since Allawi won the election, his group would be in charge of this agreement thing. Under Allawi, would be Maliki as Prime Minister, and they would have to create a position for Allawi and had to be voted in, and so they called this The Strategic Council for Allawi’s position; Maliki was going to be under Allawi, hence 3 people in charge but they have to share the power. Maliki would just have to listen to Allawi, and Allawi also would have to listen to Maliki, but the two hate each other, like putting two rattlesnakes in a pit and they just have to duke it out, but this is what’s going on.
The reason we’re still waiting on all this is because Maliki thought he had one upped on everybody.
Now, in Nov 2010, we’re watching parliament over there on Iraq afternoon TV, and we can’t understand what’s really going on, put Najafi got voted into place, as speaker of parliament, thought they would vote in Strategic Council, and then vote in Allawi’s position into that Council, then vote Talabani in….but what really happened, Najafi got voted in,THEN Maliki changed the order of business, and made the Talabani vote the next item of business before the Strategic Council vote including Allawi’s position
This change created chaos, Allawi stormed out of the parliament session, they went ahead and voted for Talabani, but he didn’t have enough votes, he had to have 70% or 222 votes. This is how they operate.
The US goes back in, called Allawi, made him go back in there and work with Talabani… the US guys promised Allawi he would get his Erbil Agreement and position and share of power. They got Erbil Agreement voted in, approved in late November about the 30th, along with Strategic Council. They put all that together….and what happened was…..
The US, thinking they had a lot of control over this at that time, because this was just after the US elections, in which the Democrats got shellacked and yet O’bama , in his infinite wisdom wanted to raise the Capital Gains Tax so that they can collect extra tax money; Why? Dinar holders, we are in Obana’s targeted sights, thank God for Republicans rejecting this effort. O’bama tried to convince the Republicans the entire month of December to raise the Capital Gains.
Remember, the UNSC meeting was about December 10th or so, and on the 17th of December they were going to have a big meeting with Kuwait to get those agreements done, and keep in mind, the Power Sharing Erbil Agreement has been done,
Iraq had been having Parliament all through December, every day ready to do this RV vote…. But the US kept trying to get higher tax so we were delaying it out, and so Iraq kept holding it off through the new year, then January, again through February, and the US is involved and after April, finally the US backed off of our tax issues and said just get RV done, whatever it takes…
This delaying time frame took so long that all the players started seeing they could get so much more money; The Kurds came back wanting more than 17%, they wanted 20%. They got it. Maliki said he didn’t want to sign a certain part of their agreement, and Allawi gave in a little bit more, we thought we had it all together and proceeding up to about Mid June. We were ready to go and they were to vote on this baby, but Maliki doesn’t show up for the signing and announcement…of the Erbil Agreement and the Strategic Council. That’s where we’re at for past four weeks, its not about computers.
How can one guy stall the whole thing? Maliki is the Prime Minister, He can do it. Shabibi can decide to wait. Prime Minister is just like our President. He can stall this….and the The US has given Iraq the status of Sovereign Nation, we don’t want to step on their toes…. Yet,we still promised Allawi the Strategic Council…
So where are we at today? What do we have left?
The Erbil Agreement meeting held today (Saturday July 9th) is done and everybody has agreed to implement or initiate the Erbil; this means that they will actually vote in the position for Allawi to have the leadership of the Strategic Council and that they agree to share the power, that’s what that is talking about.
When can this happen? The soonest to do it is Tuesday, July 12th.
That’s when Parliament meets next. So Tuesday, if they come in and put Allawi in his spot on Strategic Council…… then Shabibi has what he wants, then it will be over, nothing else matters, that’s exactly what we’ve been dealing with the whole time. The minister announcements may happen at the same time, but they’re already in place. There is NO more to do. No Global Settlements, nothing. This is actually what’s going on, it’s all about that power sharing issue.
That’s the skinny of it….we’ve been on such a roller coaster ride, and it’s not necessary
We’ve been waiting and getting all jacked up by rumors…. are they crazy $8.00 RV? Yes, they are crazy, they will come out to cover the budget and maybe a bit more. They’re not going to drop some humongous number out there….they’re not crazy….we might be to think they would…
DFI is not enough to run their country; The DFI is an asset account and it helps, but it’s not so liquid.
DFI does help stabilize the rate but will not help RV , but it will help their country, not for long haul.
They have to have budget… follow the money, at least Iraq has approved their budget in March. APPROVED! US hasn’t approved a budget since O’bama was elected….probably has something to do with waiting for an Iraq RV, but the point is that Iraq needs to have a budget that gets opened up and implement it.
(emphatically) The RV starts in Iraq. Bank rumors are not what we should be following. It’s all about Iraq. Yes, our banks may begin to know about it and are in preparation, but all key indicators we want will come from Iraq. Everybody has a position that we’re ready….but that’s not the point, they need to do it from Iraq, Why?
Because Iraq is a Soveriegn Country, we gave that to them , we don’t want to make it look like we’re pushing them around; we’re somewhat walking on eggshells with them, being sensitive.
Remember an article of Shabibi and Maliki sparring in the press, and Maliki tried to get the courts to put the Central Bank under the control of Prime Minister….. and Shabibi said he will not pull RV till Maliki and Allawi both do what they said they would do with Erbil Agreement; Shabibi stated strongly that he answers only to the Parliament, NOT to the Prime Minister. We know the US supports Shabibi , Why? Because the US promised Allawi that there would be power sharing and assurance that Iraq would be a democracy. That’s exactly what’s going on here today. Get off the rollercoaster , don’t worry. When you see minister, you’re going to have your RV; Tuesday is a great day.
So Saturday, Today July 9th, they agreed today to activate the Erbil Agreement, and they need to vote it into Parliament on Tuesday, that will be it. If they vote it in, It will be over!
They were ready Thursday before last, that this was supposed to happen then, Najafi came out and said a few things, but Maliki decided not to show up for the meetings. They were ready then, But they have Maliki pretty much cornered and hogtied now.
Now, if we don’t hear US forcing Parliament, we’re involved but not forcing the Parliament….because the parliament leaders themselves are forcing Maliki… Parliament told Maliki after he didn’t attend last week, we’re voting on this with or without you. So this Tuesday and Wednesday completely looks like our time. That’s a great sign. Most likely, if they stick with their guns, next week is our time.
Question and Answer Session:
Lou from PA. Numerous false positives for months. All players that share power have agreed in principle, and Parliament is the one on Tuesday at the earliest, correct? Not Allawi, Maliki, or Barzani…? NO,
And remember, NONE of this is absolutely needed for the RV, Shabibi set his own standard of acceptable timing criteria. Do you Believe Parliament will rubber stamp this vote?
Koonce A: YES…..unless Maliki or Allawi doesn’t throw some sort of wrench into it, like the guy hitting the other with a cane, other than some strange outburst…or something.
817 Q : Agreed that no way $8.00… do you know what it will be?
Koonce A: : Yes, $3.41…it covers their budget, maybe a bit higher
847 Q: Koonce has been on Midnight Think Tank, This is the guy that got to meet Shabibi in DC, Q: Just because Allawi might not show up, the Parliament is still intending to implement and approve the Erbil….
Koonce A: yes that’s what the newspaper said, can’t promise though.
Q: Is the Oil deal already signed sealed and delivered, ….can that slow this yet?
Koonce: Kurds got their payment which means the HCL is done, ; No other oil deals or agreements about oil or factions getting paid is anything that can delay RV.
Q : So you don’t see anything more that can delay past Wednesday? Right?
Koonce A: Well, I didn’t see the cane thing,….it is Iraq
Q: Frank26 says Thursday is their special Independence Day or something,
Koonce A: I really feel that they want it done this week……Meeting today, and another setup for tomorrow to clarify and rehash …..Maliki seems to have amnesia, tomorrow is likely to shore up all the people and review what was agreed today, to hold peoples feet to the fire approaching Tuesday’s vote….It’s good their own parliament and committees are starting to pressure and back M & A into corners, which is good since our foreign policy is weak…
Robert Q: still 15% LTCG tax?
Koonce A: Yes, it is, but I still intend to apply of the ruling asap, after RV, and hopefully , at Austin, we’ll have copy of it for you to take to the tax attny?
Robert Q: rate?]
Koonce A: $3.41….won’t float much, can’t afford to, but they could do another RV soon in 6 months to get rate up to $4 or so if they need or want to
Lady Q: The taxes we have to pay, ….something about treasury appt to pay taxes to avoid trouble, is it true?
Koonce A: Not true, not logical, IRS is not going to carry money, Voluntary Tax system, no way they can control that or demand it
Mike Q: All issues Kuwaite, HCL, Ch 7, ….all these issues done, right?
Koonce A : Yes
Mike Q: Do the upcoming Tarrifs , how can they put a tarrif onto the country at the low value, when the people are starving.
Koonce A: Want to tax them as they try to bring goods, in, the tarrif will have to be after the RV,
Mike Q: What chance it will be this week
Koonce A: 80-90% chance, they have some other meetings about how US is going to help Erbil, but that’s not really affecting the RV, can’t predict a cane in the head though…
Guy Q: Why do everybody after a call say they are so much closer…. Why are the others getting others so pumped up …..
Koonce A: It should have happened 2 wks ago, but Allawi didn’t show, this time they told him they’d do this even if he doesn’t show. They’ve been arguing on this power share since November….seems they really intend to make Maliki do it….so Shabibi can pull the trigger
Beverly Q: Regarding Dodd Frank act which takes place on the 15th….how does this affect Reserves/Layaway…would appreciate the affect on us dinar
Koonce A: OTC is a brokerage house, if you went and got dinar from anyplace other than OTC, you’re fine. This is another rabbit that will not affect us….don’t worry about this
Susan in Oregon Q: Rate of $3.41 feel like ping pong from .86 to $14 rumors. How did you arrive at your rate?
Koonce A: 1.8m bpd X $32/barely for next 5-6 yrs, we have contracts with US first, we will use dinar to buy oil to pay for war reparations, = Total reve = 26.1B total revenue. Official record UN confirmed that Rev. Take 89 B budget divided by 26.1 B = $3.41…the only mystery would be if they wanted to have tremendous more cash than the budget needs, maybe a bit higher, but not a lot,…..that’s it ….they are not going to go too high. They have contracts with us first, (GB & France also) They will not sell a drop of oil to anyone else and this is why our government wants to use our dinar to buy the oil.
Q: if managed float with small incremental increases….at that rate we should go ahead and cashin most of our holding…
Koonce A: May want to string out some cashout exchanges over time to minimize the tax issues
Michigan Lady: Q: Read article the zero’s must be dropped before they can RV…..currency hound that before the money could be more valuable in IMF, the zeros had to come off first
Koonce A: doesn’t make sense. When you RV, the zeros come off…..which really means they are taking the large zero denom notes off the street…don’t need the 25k notes to buy bread anymore.
Lady: Just wondering if budget is opened and confirmed?
Koonce A: No,
Lady: Where is my money?
Koonce A: Same place my money is at? Ask her where my mine is?
501 Q: Think we’ll be having to burn the midnight oil, or based on schedule of events yet to happen will it be much more during day…
Koonce A: I think it will be at end of their business day, easier to close the books that way..
Q: So could be late next week also
Koonce A: : I feel strong on Tuesday, since it’s been dragging, , while they have their process done, I don’t think Shabs will delay any longer, don’t want amnesia to come out and change something
Allawi and Shabibi are relatives.
Q: Keep watching CBI
Koonce A: : Correct , CBI is the indicator
Lady Q: Where does exchange dollars come from
Koonce A: UST will deposit , from digital form, …..(Needs some clarity here)
Michael Q: Excited about Koonce party in Austin. Seems like Parliament Iraqis are getting their act together, isn’t it surreal to see our congress?
Koonce A: agreed
Guy: Q: Give assessment of what 30th of June meant? And what changed to get Maliki to play along finally?
Koonce A: Assessment of what I know and believe; Iraq has been growing. US has had to step in to push Maliki along, he hasn’t liked it, but we’ve done it….for him to do what he did, saying “I don’t like it” …. from the June 30th on, Maliki is snubbing us, but just now, the Parliament is finally standing up to Maliki and taking control and not letting intimidate ….and not letting him have both RV and Power.
Guy Q2… the light is really shining, no more to hide behind, no more excuses, right?
Koonce A: pressure is more and more, 17 & 35 people died past couple days, they had declined, but now the US is having to go back into Iraq to help them with ….forget I said that…..we have to help calm them down….there is extreme pressure and we’ve got one guy that doesn’t care….it’s a pissing contest, and Maliki wants to see if we will keep pissing, and the Parliament said we don’t care either, we’re implementing the power sharing agreement with or without you….
Koonce A… wants to scream when people say they’re lining up at the bank to exchange….they don’t have to exchange, it’s their money….they can go buy a car without it. It’s crazy.
601573 Q: on June 30 nothing happened, though people said it did…..right?
Koonce A: When it RVs I’m at the bank…..
Koonce A: Article says whether M & A show up, they’re voting to implement the power sharing no matter who attends….
Q: FDIC law?
Koonce A: : Congress has not changed one law, it would have to make it through both the house and senate, and they’re stopping any tax increase attempts don’t worry about it.
WiseLady Q: So many on different pages, someone touched on topic of removal of 3 zeros, which really means ReDenoms….. but now investment groups are telling people they can’t hold Iraqi dinar in the US, now also talking about LOP….but nobody knows what that acronym means?
Koonce A: Average education level in Iraq is 5th grade, they don’t understand what Shabibi means when he says strengthen the dinar. The large 25k notes were printed specifically for interbank transfers, but inflation got so bad they put them on the street , though never intended for the street. Was 1800 dinar per dollar, now 1165…it’s appreciated, grown in value….scams don’t appreciate and grow…suggests going to currency chatter.com with audio FAQs….this is addressed there.
GuyQ: interested in other baskets of currencies, any feedback on the Dong
Koonce A: No , don’t have time, not sure there is going to be baskets….Condy Rice said there might be a dozen or so currencies, ….hoping after IQD, time to then look at Qatar, Saudi, Dong, and a couple others
New Guy: Q: When RV happens, the 25K note in Iraq streets, will it be converted to lower denoms
Koonce A: Could go buy car, or take to bank, or get low denoms. That note will be worth 80K USD
Virginia Lady: Q: Was down in Florida, called a 5/3 bank, asked if they sold, no, checked rate for cashout … .00066 ….then something about 1:1 , Back office Verification is Off Site…..
Koonce A: I would have taken them up on the 1:1 with one 25k note….
Q: Do you believe they have the Lower Denoms out yet, and talk about coins?
Koonce A: : Low Denoms are likely still in the banks, printed all at same time; Coins .50, .25 …..$50 Coin, look on CBI. When Bush decided to do this, they printed and coined all money at the same time.
Q: Do you believe article that said Hillary called to ask about Ch 7?
Koonce A: No
KS Guy: If Kuwait is in our basket, what happens to the IQD..
Koonce A: Thinks Kuwait won’t RV unless they have to…. Still $3.41 for IQD
Echo Q: Really appreciates Koonce calls; June 30 RK said, do not be concerned because it has to happen, even if not on the 30th June, or July 4th,…. It has to happen and it will…very sustaining and encouraging over these last few days of wonder…thanks. Struggling with CurrencyChatter site Q
Echo Q: If we don’t see anything by Tues, what other signs can we look for,
Koonce A: : Follow the money, Iraq is melting down, bombings increasing, was down to a weekly bomb. GreenZone getting hit with RPGs every single day…they were in a calm spot. The Iraqi politicians and the US are dragging it out and responsible for all the violence going on, we don’t want Iran to move in…. the US foreign policy sucks. What are we watching for? Follow the Money. Iraqi People been working for over 8 months. They need to get paid. They can only open the budget when Erbil agreement is done, because they won’t open the budget until Maliki has been separated from power, so then ……they can start paying their people.
Q: You’ve explained clearly how you arrive at $3.41…what is the chance it will be significantly different
Koonce A: : Zilch…..let’s just say I know something, OK, I said $3.41 or $3.42
Q: last couple days, articles , percentages of tax with incremental time different rates:
Koonce A: : (Interrupts,)……. those guys don’t know what they’re talking about
Koonce A: : US has a Volunteer Tax system, we have the ability to structure the money we receive, and minimize our taxes, that’s the structure of they system we live in. I do believe they are going to give pressure, likely 6 months. If you hear you got six months and know you need to have some meeting, how long will it take you to cashout? Guy says, likely not all….
Koonce says get foreign currencies into digital form, in case something happens.
Q: …asks about fluctuations of rate soon after RV
Koonce A: no Shabs said 5 currencies : It will be pegged to the dollar, then tied to a basket , but it will not fluctuate because there are 5 currencies (GBP, French, ? ? ? ) that have to RV along with it………… (Need Clarity on Koonce’s answer, it is not clear…)
Q: Do you believe in the Tier thing?
Koonce A: : No, it don’t make sense, too much double dipping would be allowed, it would cost Iraq more, …US won’t let some be priveliged, Iraq won’t let people profit twice. It’s bogus, there’s a lot of things that aren’t good, use your common sense.
Q: When it breaks down to taxes changing in urgent time periods? Is it BS
If 45 days = 15% 46days to 6 mo = 22% and longer ……some higher
Koonce A: : The US Treasury would have to stock locations with cash and labor for a long time, I just don’t think they will do that, Get your tax attny and CPA…. Who votes in tax laws? Congress. If any of this were true, they would have to disclose this in Congress.
Q : If my stewardess going to Iraq didn’t bring my receipt,
Koonce A: Banks won’t need proof of purchase, the money is the proof
Lady West Tx Q: We don’t have anything to worry about with Frank Dodd.
Koonce A: your currency is in your hand, it is not OTC. Therefore you have nothing to worry about.
Q: Have you talked about CC with Eagle and David & Frank from Dinar Banker, talking about International Airports, ; She called and talked with Dinar Banker
Koonce A: Fincen 104 will also prove you didn’t get this for guns or drugs, illicit activities; don’t worry about it, sign it.
Q: Do remaining ministers need to be sat
Koonce A: They’re using the ministers to hide behind, ….till the Erbil is official…which should have been done today ….maybe also tomorrow, it is agreed to be implemented, but still need to get the Parliament vote of approval , Tuesday… Done
John in VA Q: Budget not opened, so it only gets opened whem?
Koonce A: budget can only open AFTER RV , they will pull 60% right off the bat, approx 50 Billion. MOF has to pay people with dinar , awaiting back salaries, and cannot do that till RV
Q: What is Maliki trying to delay this, what’s his motivation?
Koonce A: Maliki wants to be the only one that matters, he wants both the money and power, so the people can’t get rid of him.
Darrel KC Q: PTR says CBI is a front page screen which is not the real CBI website, another one that is real?
Koonce A: If they change the site or new page, they may give it a new face, or look, but it will still be the same address. No it is not fake, it’s alive. They run their auctions through there, the date and activities are live.
Q: There’s still talk that if we exchange with dealers that want to wire, that the wire can get held up…..
Koonce A: The whole delay is about HomeLand Security, …..just let your banker or rep know in advance, you just have to fill out the 104 form. The wires don’t go thru the UST, they do go thru the Fed Reserve, and I don’t think it will get held up there. How many companies use Millions of Dollars of Wired funds every day….Feds aren’t going to hold it up. Get a cashier’s check then. Don’t be worried about it at all. I don’t think the brokers are going to be able to beat the banks on the rate. I think the Banks are going to be very competitive.
Q: Rumor about Pinging? Plz Explain
Koonce A: Signal to an IP address, any kind of machine can ping a signal, like to a printer, a router, whatever, the pinging is all crap, the biggest BS ….well maybe not the biggest, but not an issue, no matter how many countries, all we want is the CBI to change the rate. Gurus been telling people its going to RV every day for past six months, but nothing
Q: Couple months ago the IMF guy got clipped with the sexual assault….any link to RV?
Koonce A: This currency to IMF is not that big a deal to them…
Q: Has anyone asked how long can Iraq go with out RV
Koonce A: As long as they want, but it will all crumble around them. Everyone in Iraq wants to RV, including Maliki, but he doesn’t want to give up power, but now they’re telling him he must and moving on with Erbil without him, that’s a good sign
Q: If we’re only cashing in a couple 1,000 IQD, under $10,000, still have to fill fincen
Koonce A: yes, should be ok, but be sure to take off all pressures of mortgages, etc
Q: What was bank just mentioned?
Koonce A: EversBank in St Louis & NY; Thinks UBS has a NY location also. Eversbank is the only one that promotes that they will hold multiple currencies.
Q: Guy asks about digital with stop losses.
Koonce A: feels it’s like a stock, and doesn’t want to have to watch it.
Q: Did DFI fund release, did that bring us closer to RV?
Koonce A: No didn’t have anything to do with it
Q: Do you think Shabibi is waiting on Maliki and Allawi?
Koonce A: Exactly, the Erbil Agreement; US allowed Maliki to do an end around, our basic diplomacy sucks, which is why we’re still sitting here. Shabibi is holding the RV trigger, and US is supporting him till powers are separated. Sadr is even calling Maliki on getting it done.
Q: Did you hear Biden is going to Iraq?
Koonce A: Yes, he is going, Ambassador has been pressuring , and yes the Biden visit is likely about RV
Annette Q: Girlfriend’s son leaving in August for Iraq, to break down and bring home equip. Any connection to RV?
Koonce A: No, they just have to get this done, Iraq has promised that they would do this to pay for their liberation and the countries that are owed, the pressure is getting very intense, ….of course it should have been done two weeks ago, till Maliki had his cane man throw a wrench into it.
Q: Please comment on Ch. 7, consistently seeing Erbil implementation and Ch. 7 to be a fully sovereign nation, and being fully sovereign, they are free to RV……
Koonce A: December 17th 2010 was everything they needed to RV. We’re chasing rabbits, Iraq was supposed to have RVd and shown the currency long before Dec 17, but US held that up. They were under sanctions and had a $3.00 rate, ok, …..people , some guru said it was going to RV, then it didn’t so all the explanations have to be dished out after being fabricated. Isnt’ hard enough with just the basics. Just follow the money on CBI, It’s not going to be such cloak and dagger , I promise, you might even see the ticker on Fox News with some indication and they you can go to the CBI to check and then run down to the bank.
Q: Paris Club paid yet?
Koonce A: not that I have seen, neither USD or IQD….If they pay now, they’ll have to pay in Dollars. But this will have zero to do with the RV. I kinda think they may have paid, but won’t pay in IQD if they didn’t open the budget. We’re not sure if there was a due date, but like so many other dates, they’ve overrun many of them before.
Q: About bogus articles, filtering deciphering?
Koonce A: We have to follow and see that it happens a couple days later, after the fact. If they meet on Tuesday, but it has been scheduled according to an article …so look for the development to occur a few days after the articles. ….
Q: Doesn’t make any sense these stories and cashin Rumors etc, when CBI hasn’t updated and Dinar Banker is still selling dinar…
Koonce A: I agree, that’s right; Check the CBI; Correct, If DB is still selling, good chance it hasn’t RVd yet
Q: About the seated ministers…
Koonce A: They have been seated for about 3 weeks now, but the Erbil Agreement has not been voted into approval.
Q: You mentioned on last call, something about the IRS, a certified ruling…will it apply to all?
Koonce A: I think everyone is going to have to get their own filed under their own name, but everyone will be able to use the reference to the same ruling
NC Man Q: Things about congress and taxes, ruling different tax rates with graduated time frames, can Obama do an executive order for this?
Koonce A: No, has to be approved by congress
Q: If they do the Erbil vote on Tuesday, when do you think it will RV?
Koonce A: Same day, I think it will be late at end of their business day, late in afternoon, as soon as ink’s dry; It’s so hot there, that sometimes the banks stay open late till like 8pm their time….but there’s nothing more they need to do other than that. It’s gotta be written in stone that Maliki agrees to share powere before Shabibi will pull
Q: Nothing more about Kuwait could hold it up
Koonce A: No, it will get around the world in about a minute and a half
Q: Forex Question, not pegging to GBP, but why is IQD only paired with GBP not with any other currency, is that just an indicator…..?
Koonce A: Please restate the question: Guy states question
Koonce A: You can pull up Reuters and get it paired to the dollar or any other currency. Don’t think your question really means anything. Everything going on right now, as far as compared to market activity, doesn’t mean anything, it’s not live yet. As much as we want it to, it’s not related.
Q: Guy wants to emphasize that wire transfers are strong safe way to do this
Koonce A: I don’t think the wire transfer dealers are going to be able to beat the banks. All else is hypothetical and speculation;
Q: people talking about FDIC Non Interest bearing account…don’t really see that as so important, since the big 4 banks are going to get most of the dinar exchanges, but those 4 banks are going to be so strong post RV
Koonce A: Here’s the deal, your financial advisors are going to help you move the money to safe smart places, the banks aren’t going to go down in 5 minutes or in any short time before we have time to move it around, anything else is hypothetical
Jimbo Q: Rumor stations saying family nephew paid in Iraq got paid at $5.25?
Koonce A: No, it hasn’t happened. I have guys all over iraq in oil companies, etc….we have no transactions to report, I do have a guy that saw a 10 Dinar note in a drawer but they’re not passing them out yet. Don’t put any thought into that at all, till the CBI changes. Gotta figger this , CBI sets the rate for the whole country, when they set the rate, they’ll change it on their screen and page, so get off the other rumor stuff. Stay logical and follow the CBI….they set the rate and it will go out to the whole world
Pat in NY Q: Certified opinion from IRS, someone told me it could take 6 months
Koonce A: no , they are supposed to reply in a ‘ timely fashion’ which should be no more than 2 weeks, but should be in a couple days
Q: From Phoenix show a couple days ago between O’bama and Speaker Boehner, having a blackout Gag, thought that they might be negotiating the tax revenue allocations:
Koonce A: I just don’t think so, the tax issues for our country happen in December, ;
Q: Thought they were thinking that the secret meeting between our politicians, that they are debating what they’re going to do with the RV proceeds our Govt receives…
Koonce A: I guess that they could be discussing these type things, but I don’t know….
Q: If I want to give my kids dinar, should it be done before it RVs, and notarize it?
Koonce A: The only reason for notary is about the timing for tax purposes, but really you need a tax attny for advice like that. There could be some issues with companies to capitalize, then it might have some specific date records etc. Some discussion about gift tax ….missed part of it.
Q: Chatrooms make me confused; feeling good about our investment this week. Leapfrogging to next phase, not too much confidence in Iraq or Arabs in general? Any advise to look at?
Koonce A: Just what I’m doing, I’m looking at Saudi Arabia and Qatar. Biggest thing is learn to secure your money, so that anything that happens if all goes to heck and a handbag, you don’t lose your money; So many people didn’t understand that the 401k could lose money. Learn from that. Don’t lose this money. You can live off the interest on this thing. Security is the primary thing …then in a year or two GCC is going to come out and those nations are going to be interesting.
Q: What about Libya?
Koonce A: Yes, I think that could be something to look at.
Q: How long will it take us to get Trusts?
Koonce A: If using local Attny, 4-5 days, depending on what type, you likely will want your tax attny there also. Beauty of trust is you can go from trust to trust with no taxable event.
Q: Is the first investment in trust taxable?
Koonce A: Some say deferral is possible, but you need your own local advisory team. Just make sure your not trying to hide anything.
Q: Do we need both Tax & Trust Attny?
Koonce A: You’re definitely going to need Tax attny! Understand what you have, I assume you have 2 million dinar plus…so your’re retired, live off it, don’t lose it, that’s your major objective.
Q: American Contractor? We’re all so confused about the issues , why is everybody not on the same page and so inconsistent?
Koonce A: Because of the secrecy of Dinar. I think Iraq got more people into this dinar. It was supposed to go at the latest, 2 years ago….so the more people that got in makes it that much more cloak and dagger. They didn’t intend it to get this far.
Q: Its going to go fast worldwide?
Koonce A: I promise you if someone would give me 1:1 dinar for dollar , I’d take it in a heartbeat, at least a bit….people call me bawling because they’re believing inaccurate information.
Q: Do you have a lot of contacts in Iraq
Koonce A: I have enough, let me just say that. About American Contractor, I’m not even sure he is there, he sounds like he’s not even there. I don’t trust anything he writes. If people belittle or bash others, fine, go find another forum, why do that in a place where people just want to learn. Some like to be destructive. Why tell someone asinine rates like $8.00? They’re not going to come out with any more than they need to for their budget… People are making this harder than it needs to be. Watch the budget. Too many rumors exist about people cashing out.
Q: Why can’t they come out lower and rise rate gradually?
Koonce A: At a $1.30 it would be 60B short on their budget, they couldn’t pay their people. They have an 89B budget. The dinar is going to be worth X amount of dollars more….they have NO option.
Q: There isn’t another amount of money somewhere?
Koonce A: Not to handle a 90B budget every year.
Q: I understand that there is another form about Tax?
Koonce A: Certified Opinion which your CPA and Tax Attny can use to justify your tax filing.
Q: When you said secure the money even IF the bank went down, what did you mean by that?
Koonce A: Secure it, go to the private banking side of most banks, and they’ll show you. If you have your money in other things other than dollars, your priority is to secure your money. You have to be safe. Even though Lehman Brothers went down, there are those of their clients that had the money protected and didn’t lose anything.
Q: What makes my money more secure?
Koonce A: This is not the call to answer that, go to a financial advisor, or wealth mgt person….sorry.
Q: Could RV create a stimulation that could increase the value of the dollar?
Koonce A: It will increase the value, but I cannot foresee the future of what our government will do with this opportunity. It’s a two or three fold problem. What the Dinar will do is allow them to payoff debt, if they choose to do so.
Q: I assume O’bama knows this is happening, I guess this is the rabbit he can pull out of his hat
Koonce A: Of course he does, they have some tough decisions, and lets hope they do the right things, it’s very complex.
Q: Do you have any good sources to go that would help with this type investment:
Koonce A: I’m going to cash out with a bank. Those guys have wealth management people, that will help me secure my money. After that, I’m going to learn and study. We don’t want to get risky with this, to lose it. You want to live off this money.
Q: Cashout issue, many are getting LLC or Trust, are you going to put some in your personal accounts?
Koonce A: Yes, I won’t know my whole plan , but yes, you can still have money in your name.
Q: You mentioned that December the RV was supposed to occur, but the US stopped it, why won’t they do it now?
Koonce A: Because Congress has already stopped the tax increase capital gains, they decided to keep the Bush Tax Cuts, and they’ve already solved that question.
Wm Wmston SC Q: I’ve heard people asking about banks offering rate, but they’re posing that answer to a range to be offered, post RV.
Koonce A: I haven’t seen any of those. I won’t sign any rate contract.
Q: How do you know 15 % tax Rate
Koonce A: The only ambiguous part of tax law is currency, all will be long term, that’s why the IRS needs to rule. But the Auditor herself told me what the answer will be.
Dakota Ray Q: I know you say follow the money, have the people gotten paid over there yet?
Koonce A: NO, people can’t get paid till RV which will not happen till Erbil gets voted upon and approved by Parliament, which should be Tuesday or Wednesday to vote on today and tomorrow’s meetings that are being reported to be agreed as of today, no matter what Maliki tries to delay.
Q: Are you going to contact us about RV
Koonce A: We will send an email about the RV and will also invite all the people to Austin TX for a group meeting.
Q: Have you heard about International Trading of currency about a 40 day lock in period?
Koonce A: No
Q: What do you think of Private Foundations, like the Gates’ have?
Koonce A: I know about them , but not enough of how it will apply to us. I will be determining that as I work with my planners and advisors. Not sure today what way I want to go.
Q: Will you hold a percentage of dinar back?
Koonce A: I want to do a bank that will hold dinar in a dinar account,; I think some of the bigger banks will do it.
It will be depositing into a dinar account
Q: US BK or debt thing?
Koonce A: August 2nd we run out of money in our govt.
Q: July 9th today, stupid Q, are we thinking August 9th yet?
Koonce A: I don’t think so, but I can’t control the cane things, I think Thursday is latest.
Q: Wells Fargo personal banker was cool but not returning my calls now….?
Koonce A: Wait till it happens. Most Private Banker divisions won’t even talk to you unless you’re going to put a million bucks in their bank. When you have that RV ….then you can go and be catered to.
Dina in GA Q: Will IQD go up in 45 days from $3.41?
Koonce A: I think it will stay the same for at least 6 months.
Q: Did you lose everything with that Nigerian thing?
Koonce A: I did well with it, went out and bought a toothpick with it.
Q: Bank in MO is going to foreclose on my farm next week.
Koonce A: Go get attny and try to use the Homestead Law to hold them off. I think next week is going to be a good week.
Evelyn from Baton Rouge Q: I would like to get on the list you were speaking about the Certified Ruling
Koonce A: I’m almost positive people will still have to get the ruling listed in their own name, it will cost about $1500 to get it, you can have a copy of mine, but I think you’ll have to find someone in your state that can help you to write and request your own. Find a tax attny from the county clerk or Parish who does a lot of Probate work, and that person is likely a good attny that can help you get this.
OK, this is the end of our time today.
They agreed today, to execute the Erbil. Tuesday should vote on the Erbil Agreement and the Strategic Council for Allawi to lead. It should be done very soon.
We’ll see everybody.
