Transcriptionist is ameteur. Some paraphrasing and summary is used to simplify while capturing the key points. Thanks for understanding.
Love's Love (Scott)
The Call Squad
July 31, 2011
Episode 64
Patriot, Joey, Vic, Tim, Scott, Steve, Diana, Deb, Pam
Patriot describes a variety of missions, objectives, style, sources, and intentions of the squad that can be heard at the beginning of every call replayed on the website: See very interesting free documents and downloads often referred to on calls, for your edification on our website.
The Call Squad broadcasts: Sunday thru Friday, 8pm to 1am EST, even after the RV
Tonight: There is a lot of news and great articles coming out that we will update and then we will provide some step by step Pre RV preparation tips and ideas.Or call for Replays of every night’s calls: 760-569-7699, pin 637255#
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Diana reads: To handle small currency … Central Bank Undertakes The Replacement Of Damaged
Author: the future of Iraq
31/7/2011 12:00
Baghdad / Iraq's future
Economists called for citizens to address the category of small and currency to support the value of the Iraqi dinar, with the exchange of the citizen and the bank accepted responsibility for not traded in the market, while the central bank pledged to replace damaged currency. A number of experts in their talk: the fact that such groups led to the forced some sellers to increase the price of the material sold, with no turnout and widespread of its citizens and even the staff led to the accumulation, indicating that government departments refuse to receive their salaries, estimated at billions in currency small If a rate (5%) of them.
He added that the currency Alckheon small in the Iraqi market is almost missing but are available in banks and dramatically.
The General Director of Bank of Iraq when we spend our salaries (inlaid) currencies are small complaints to us by the citizens and staff, so we have to pay the salaries of major currencies only.
For his part, central bank adviser said the appearance of Mohammed Saleh said that this small change has not been returned from the banks to the Central Bank until Nawwadha currencies new, noting that the banks receive only coins large because the quantities are small and the cost of counting and sorting easier, that's what motivated us to re-structure Iraqi currency deleting three zeros from the currency.
Saleh added: We set aside one day a week to receive these currencies from banks and small damaged Nawwadha categories of modern and without any costs, noting that the central bank is ready to provide the banks with any small amount of currency.
He said if we compensated the banks of small groups there is no need to print currency and category with an average (2000.3000) dinars.
He said if there was an average currency that does not mean that the Iraqi currency will strengthen, but merely a means to facilitate the payment of coins.
He pointed to the metal if the groups are working to make it easier for us by a lot of things because the old chief extends to more than (15) years.
The Chairman underlined the Economy Bank Hussam Ali Obeid to the need to return the coin, as was the case in the past to strengthen the Iraqi dinar.
Ali said: that the small coins are acceptable in the Iraqi market if it has value, and called to have a plan to make the dinar's value compared to the dollar and this is by printing Coins to strengthen the Iraqi currency.
For his part, Mohammed Jabbar: that most of us pay the disposal of the banks of the currencies of small groups and contain a lot of banknotes damaged so that some can not handle it and refused by the sellers.
As pointed out by 'Ali that a few small groups in the local market generates considerable embarrassment when buying any material which results in a forced seller to increase the price of the material sold.
Patriot: If you want to use one of the old notes, the merchants are charging people more just for the hassle of using the old damaged notes. And did you hear strong comparable to the dollar?
Steve: People no longer want to even use or carry the smaller currencies, but it’s only worth carrying the triple zero notes until the dinar value raises.
Joey: An article in May, the deletion of the small notes, shop owners couldn’t tell if it was counterfeit since they were so torn and ratty. They can’t even read the serial numbers of notes. Coins are 15 yrs old. Banks were charging more if they asked for those notes. Shabibi went ape over that news saying they couldn’t charge more that way.
Patriot: This is why we think the RV is so near. They can’t even get the banks from the CBI auctions to accept these old notes. It’s hard to nail down, but we’ve heard as high as 75- 82% of the large denoms have been withdrawn from the flow of money from the market, being taken off the streets. It would require several months for Shabibi order the printing of more triple zero notes…. if they’re not going to RV for another year, and we don’t think they will do that. They’re ready for the RV now.
Joey: Can you imagine that they can’t make change for such low prices, so the merchants round up. That’s not the way to introduce yourself to the International community. It would be an embarresment.
Patriot: Yep, we’ve heard similar talk of trying to eliminate the penny and even the nickel too, from the US economy, and round prices up to the 10th of a dollar; not that they ever will, but this would be similar to the round up of prices Iraq is doing in 50 fils. It’s getting to be a messy crisis, and they’re ready to fix it.
Diana reads a couple sentences in article about: NEXT WEEK Distribution of Dinar
Al Jazeer states in Dicar: Article 140… we’ll see distribution of 1 Billion 280 Million Dinar next week for compensation and also 10 Million dinar for every citizen.
Patriot asks: Is Article 140 from the Erbil agreement or The Iraq Constitution?
Joey: HCL
Patriot: So to all the naysayers of Erbil’s completion, here they’re already preparing to disperse the money.
Patriot: So Vic did you say that comes up to about $8,500 dollars per citizen?
Vic: Yes, it’s a culmination of numbers I came up with; based on 15% of budget and know that 1/8th of the 2011 budget was for Kurds, so since HCL comes out of the Erbil Agreement, the numbers we’ve been talking about then has to include the population by region taken from the census to calculate the 15% of the budget they allocated to the people; Vic Asks Patriot to cue up the Melkert statement from the UN July 19, 2011 meeting; they talk about results Head of Kurd region Census: 4.9 Million out of 31 Million 664,466 in Iraq
Vic Reads from an article confirms Population Census completion: The head of the Kurdistan Region Census Department told Aswat al Iraq, the population of the Iraqi Kurdistan region has reached 4.9 Million people out of the roughly 31 Million total in Iraq; and that this statistic was reached according statistics and housing numbering from housing count in 2009. (Vic comments: 31,660,466 total current census of Iraq, concluded and announced recently in other articles )… A special ceremony held here today, in cooperation with the UNSPA (Special Population Audit) a Sr. Advisor from the Ministry of Planning calling on the GOI to expend more effort to have better health oversight and scientific endeavors ….to avoid problems and increasing health and job issues in the Kurdish region.
Patriot: Notes that last call we talked about a report that nailed the census down to exact numbers ending in 31,664,446, down to the last 466 in the nation. UNSPA…is a Special Population Audit group that helped Iraq complete the census on time about June 11, 2011. Patriot plays the Melkert clip from the July 19th hearing and reading. This talks about the…. “successful completion of the dwelling and household part of the census.” From the UN meeting July 19th. The 42 minute meeting hears this quote at 12 minute 42 seconds. The census is done. HCL is now paying the money from oil sales to the people from the census. ….more
And this is why we had UNSC General Ban Ki Moon, stood up in front of the Iraqi Delegation on June 30th and called Iraq a sovereign nation, free to trade with whomever they please. Go read the Freedom from Intel. This had to be done to make the RV possible. This is done. One of the things that drives us crazy, is how the intel providers have all been wrong, so many times. And just as offensive are those that say it won’t happen until a specific date in the far future. Whether near or far, nobody knows the date. Read The Iraq Project. Get off the Roller Coaster. Erbil was signed and on June 30th, Erbil had been completed and agreed except for one amendment that was signed on July 9th. On Friday, Joey had a document that read from an interview of witnesses to that amendment signing.
Joey: The article simply stated a witness that referenced the meeting at Talabani’s house on July 9th that saw the signature event for the amendment to Erbil that indicated it was done, Erbil is Finished
Joey: reads a new article about HCL: Iraq Parliament warns GOI about delayed
Strategic to the country. You know the HCL law is already in effect since people are already getting paid.
The article reads that the energy committee already had a law, just made some changes to it.
A United Stated delegation went to Barzani and he was totally in agreement with that law, because they wanted a minister of oil so that every barrel of oil pumped out of Kurdistan was accounted for. So US helped setup a ministry of oil that had a Kurd rep there who could verify all accounting of oil. Barzani was satisfied and very pleased. The word is that the Kurds are the most reasonably composed, polite and patient negotiators of all parties in the Iraqi Parliament.
Vic: The fact that they are the most reasonable, it’s interesting that Talabani always hosts the important meetings not only for him to demonstrate his style, but it’s called the ‘Peace Palace.’
Steve: There was a meeting postponed from Saturday, I think for a funeral. Usually good and big things come from meetings at Talabani’s house. Patriot: Mentions seeing big screen TVs in the past, thinking RV is happening….we’ve heard it before. There was a world soccer match. We don’t know what is the big news coming, but it might not be RV
Joey: We were deluged with new articles
Erbil Article: 3rd Meeting was to be Saturday, and we know the third meeting usually implies the last conclusive meeting on the topic: Iraqi confirms receipt of reassuring message from Maliki, who is meeting to carry out the terms of Erbil supposed to have been on Saturday. This is to be a substantial convergence among the blocs to preserve all agreements.
Joey reads: From CBI: Announced the completion of the Preparation of plan to Replace Three Zeros.
She paraphrases a couple sentences. Timing will be determined by the GOI and Parliament of Iraq. Timing must be chosen as a date suitable to carry out the project without…. It shows a picture of Iraq money.
It states Iraq’s Economy is growing from sale of oil to the world. It talks of a plan to increase the use of IQD over the current demand for foreign currency, since there is more USD than IQD since they don’t have any.
CBI has a solid plan from years in the making…. The payment system will be easier for the citizens and merchants. Economists have called the CBI, to raise 3 zeros form currency …..but they are waiting for right time
Vic: asks about the amount of cash or many she just read in that article?
Joey; The article mentions it is a ‘mass of cash’
Steve: That article is one we get a lot of questions about the last article …and can make transactions in both currencies….gives example of customer giving old currencies but getting change in the new currency…almost like they equate ….1 dinar is like a thousand dinar…
Joey: There will not be a LOP…the people will not lose money, it will grow. They are trying to reassure the people it is ok and they will gain, not lose
Steve: Remembers an article by Saleh in CBI from last March where he said that the low denoms would be released so they can carry smaller amounts
Joey, yea that article has been recycled a lot …..since they will slowly reduce the use or remove the large denoms over time. That article also talks about the digital smart cards…but the people are so skeptical of the banks and the governments because they are scared the banks will steal from them. Shabibi has had to bring in large banks from the world to help him get his economy ready to RV so the people will learn how good this will be for them.
Joey: Problems Shabibi has is only 16% of Iraqis have a bank account. Thank God the other banks brought in their capital
Joey: reads a few lines from:
Iraqi Finance: Deleting the zeros from the currency will strengthen the position of Iraq to the IMF
Posted: November 18, 2010 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics
Baghdad / November 18 (Rn) – The Iraqi Ministry of Finance, saidThursday, that the deletion of zeros from the local currency will liberate the Iraqi economy from the constraints and enhance the value of the Iraqi dinar in the International Monetary Fund.
The chancellor said the Iraqi Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that “the process of removing three zeroes from the local currency will strengthen Iraq’s economic position in the international community and specifically the International Monetary Fund.”
He added that the “survival of the current currency and the current status would not address the question of the economic gap taking place in the Iraqi dinar as it will increase the burden on the Iraqi economy.“
And that “the process of changing the currency certainly will take time and money, but is required to remove the barrier between the Iraqi economy and the global economy and to give more than the value of the Iraqi dinar.”
In the view of the central bank to raise the three zeroes from the local currency is a complex process and need to be thorough economic study.
He expressed the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including privatization of banks and raise three zeroes from the local currency and to meet debt and compensation is the responsibility of Iraq.
The Iraqi government denied conducting any change in the local currency this year in order to reduce inflation.
The news has recently indicated that the Iraqi government plans to make changes to the local currency, including raising three zeros in order to reduce inflation suffered by the Iraqi market, as well as add the language Kurdish paper currency.
The local Iraqi currency has gone through several changes in its history, most recently in 2004 when the former Governing Council replaced the previous currency, which was a symbol of the former regime.
Joey comments & paraphrases key points: CBI’s Saleh says he’s been working for years taking measures till economic stability at the program rate of 1170, and said the economy is strong with great resources. Economic stability ….we will recover and he’s very optimistic. Joey adds: The article says something like, ‘the Iraqi official said it could take a year or more’…. And already some ‘half empty’ mindsets at Dinar Vets are already saying it will be a year before RV, meaning 2012…Joey reads: The deletion of zeros will liberate the currency from constraints and will strengthen Iraq’s position in the International community. It will not create a gap….the process of changing the currency will take time and money but require to give more value to the dinar. The news recently indicated the GOI is making plans to delete the zeros and add the Kurd language to the paper currency…but will take a while and….does this sound familiar? Look, that article was posted Nov 18, 2010, so the time reference may almost be a year if they do this in August.
Absolutely essential to raise the value, it is required! It’s amazing they keep recycling certain articles with key information in them. I have a dozen articles from the CBI that I keep recognizing. This should be guiding our comprehension of the often repeated refrains contained in these recurring articles. Take notes of them and find the patterns, quit listening to intel rumors!
Joey: This next article is named Karbala:
Karbala: The Views Of The Feasibility Of Deleting Zeros From The Currency Paper Iraqi Banknotes
30.07.2011
Mustafa Abdel Wahed
Reduced the Dean of the Faculty of Management and Economics at the University of Karbala, Dr. Alaa Farhan importance of deleting three zeros from the currency notes of Iraq for the Iraqi economy. He hilarious that the deletion of zeros does not revive the purchasing power of the currency as it goes some of those interested in the economic sphere, adding, "The impact on the economy is very limited , "explaining that" the currency's strength lies in the ability of the country's productivity and the extent of its dependence on its wealth of Interior and its products to meet and provide the needs of its citizens. " and recommended Farhan in an interview with Radio Free Iraq, the need to adopt international standards in relation to print banknotes, stressing the importance of selecting high-quality paper , as well as standardization of sizes. and are good for printing new banknotes after deletion of zeros from controversy and widespread in economic circles, as he went some who support the move to emphasize that the deletion of zeros from the currency paper will contribute to support the purchasing power of the national currency, but a professor of economics University of Karbala, Dr. Abbas Daami seemed less optimistic in this regard, stressing that the purchasing power of any currency increases thanks to building a strong economy. In spite of that paper currency traded printed abroad, but it is not a desired quality, so he recommended Dean of the College of Management and Economics Dr. Alaa Farhan need to give the Central Bank of Iraq more attention to the quality of the new banknotes to be able to resist the different trading conditions. It is said that Iraq's currency paper twice during the past two decades, it was canceled dealing in cash known as the "edition of the Swiss" in the early nineties of last century and proceeded to print the paper currency locally, and then canceled the latter after the change in 2003.
Joey comments: That came from one of their local economists. Everybody is on board, it’s done and decided. Listen to this from Mr. Saleh in the CBI:
Joey reads: CBI: Project To Lift Zeros Still On Track Just Not Implemented; Denies Counterfeit Currency Is Delay
July 31st, 2011 06:46 am · Posted in NEWS (Iraq & World Currency)
The central bank denied that there are counterfeit currency into the country which led to the postponement of the project to delete the three zeros, noting that the process of removing the zeros facing the reactions of the strong points.
The central bank adviser said the appearance of Mohammed in a press statement, “There is no health on the entry of counterfeit currency into the country led to the postponement of the deletion of zeros until further notice, and that the project still exists, but ink on paper has not been implemented yet.”
Saleh added that the issue of fraud and breach of law, economic crimes and present a list of all the countries in the world.
He said: we had a very strong reaction from some quarters that he did not identify the achievement of the project to delete the three zeroes from the Iraqi currency, but despite this we consider monetary authority projects strategically and binding that is applied in one day.
And between the central bank adviser to the project to delete three zeros is to re-structure of the Iraqi currency and start a new currency system, in addition to the replacement of categories (250.500) JD currencies metal to facilitate a lot of things.
This is in response to the claims or rumors that fake money will show up after the RV. But the CBI response is…there is no Counterfeit Currency or possibility for it; They can’t counterfeit our currency because it is the most sophisticated in the world. It is the start of a new currency system.
Joey: There is nothing but good news out there about the Iraq Dinar and if you’re listening to other site….remember, they’ve been planning this for years. Back in 2006 Shabibi told us they would redo the banks and currency. In March he said when the banks are ready, I will revalue the currency. How do you RV if not already printed, or passed by law, or banks sterilized, or without International engagement ….it’s the timing of the parliament and GOI, they’ve told us they are going to do it, they’ve told us how they are going to do it, they’ve even implied when, but THEY MUST GET IT RIGHT, all sectors involved must be ready, the timing must be right…and we feel the time is now.
Steve: A lot of articles about currency today, and to encapsulate them all, they’re saying we’ve prepared everything and the only thing left to do is to …just do it….looking for a window, whatever that timing might be.
Joey: Shabibi had deadlines and goals for all banks that had to meet and align just like he did. Employees had to be fingerprinted, their books were audited, the upgrade to systems all had to be done by June 30th. We might not be privy to their windows of time, but the UN and IMF certainly do. Remember when the IMF cut them off and said don’t ask for any more loans, you have too much resource so get your act together. It’s amazing how often the August to August dates are coming up.
Do you believe the IMF will continue to borrow, when they are so rich? They need to realize their wealth by accomplishing objectives at a standard by which the rest of the world operates. And August seems to be the end of the time limit of their window. We will see.
Steve: Just sit back and relax, we’re going to follow the process which they have.
Joey: I will make my money powerful, I will return it to the Pre Saddam rate of $3.33
Joey: June 20th, Shabibi said something that the 25 dinar note will be similar to a $100 bill. Don’t be afraid. He was telling his people everything is alright. We have to take it all in context.
Joey: Couple quick messages about the Port of Mubarak to alleviate fears about chaper 7
Iraq Kuwait commission sent to Kuwait that is scientific but nothing to do with economic or political issues but just technical details. Looking for all the adequate information they need regarding Maritime Status and the need to get some details for continued construction, and payment for that work.
Mubarak is continuing on as planned and Iraq asked they stop for tech issue, not politics. This article said when they laid the foundation stones for the port, Iraq was poor and they delayed their own port , and Iraq bears the responsibility, and it is very important part of reviving their own economic viability. So they are both working on their own respective ports and need to coordinate to be sure that there are no incursions or other cooperative needs are complied and possible.
Also said the port project has been settled politically and will not be discussed other than for technical cooperation. Go back to March and read what happened between the two nations, they just want to be sure they don’t infringe on the rights of each other. Mr. Maliki has said we have formed a committee about all the issues with Kuwait and that letter got him out of Chapter 7
Patriot: That last four items on the Kuwait issues checklist was listed on December 17th by the UN and it is real, the holdup of the sanctions of Ch 7 were the missing persons, the border demarcation, the artifacts returned, and the port of Mubarak. And they said there would be no extensions. Ban Ki Moon, has stood on the stage on June 30th declaring Iraq’s sovereignty, whether people accept it or not, Iraq is skipping down the road on it’s merry way. Also on Dec 17th, that article said that in order to comply and do the list of 4, the UN also allowed them to have special access to the DFI funds to develop the port, to find the bodies, etc. They spared no expense on technology. They hired special consultants to find those bodies for a proper burial from the 1990’s war. We don’t know how much clearer it can be from the preponderance of evidence that it is done. We’re trying to get all of you off the coaster of rate and date whiplash. These things had to be done, they are done, they are just now implementing them. It will be sooner than later, will it be tomorrow, only about 7 in 7 billion souls on earth know that date
Steve: Tells Patriot from a real-time TV News Report that: the US has settled the debt debacle about 10 minutes ago and that we will not default and a special committee is being formed to figure it out.
Patriot: No, I believe O’bama is not holding up the RV. IMO, only by theory can Shabibi use the US situation as a reason to delay the RV. Minister Shabibi is pegging the IQD to the USD. Rumors of GBP are false since the oil exports in USD is already setup for simplicity….and they don’t want to confuse the people any more in conversion rates with another currency. They are already familiar with the purchase power of a dollar, why confuse them again with a new currency value? It will likely be a managed float with possible 2.5% movement every 90 days for 2 years. So if he ties it to a dollar that is fluctuating, and may fall steeply, why fill in the ‘X’ in the equation until he understands what the ‘Y’ is worth. This may make him be a bit more patient. He did meet with the President O’bama when in the USA on the 19th of July for the UN meeting and I’ll bet they discussed this. He’s worked way too hard for too long and doesn’t want to be married to a bouncing currency.
Steve: Many emails ask if it is going to be pegged to the GBP, there seems to be a lot of flack over this USD insistence in Dinar World. Steve suggests they go look for the articles themselves and read what Shabibi has said, instead of listening to forums and gurus that are leading you by the nose.
Patriot: The truth is the GBP vs. USD pegging, doesn’t matter, it’s the exact same amount of money you get no matter what currency it’s pegged to, the pound has a value to the dollar. It’s all relative, Do some algebra. The rates you’re hearing all are rumors anyhow, this whole community is consumed by this. Spend more time on things you can control and still have time to do to be ready, whatever value it comes out. If the dollar drops in value by half, you’ll have twice as many dollars from the value of your relative IQD
Joey: If you read the Iraq Project. When Saddam was overthrown for WMDs, there is a paragraph that states Saddam said one thing that really upset our government. Saddam said he was going to pay for his oil in GBP. It was like 2 weeks later …..something happened when Saddam threatened our economy. If it doesn’t make sense, it’s nonsense.
Patriot: And that is why the US used the mechanism of the IMF and UN so that Iraq/Saddam could only use dollars to buy weapons, it collapsed his currency and economy….he threatened many nations and the global economy, because so many nations held USD, so George Bush collapsed his currency, with De-Valuation. There is much about security and more in The Iraq Project. Imagine the terror groups holding a billion dinar. You can buy a nuclear device for 80-100 Million dollars
Vic: That might have been true and Iran might have purchased a weapon from Georgia that was USSR, and that’s why Biden in those republics to get them into the WTO is very important
Vic: wants to read a couple articles:
Repeating about the ports, two weeks ago the US Navy had a joint operation with Kuwait Coast Guard, July 20th, US handed the oil terminals at Basra over to the Iraqi Security Forces who will now be responsible for the oil that passes there, about 80%. A small contingent of US will remain as advisors. Currently around 47,000 soldiers are planning to leave. The US would not be turning over security to the Iraqis if they didn’t feel confident in the situation they leave.
Vic : Reads another article: Iraq to buy 36 F-16 fighters from U.S
By Waleed Ibrahim
BAGHDAD | Sat Jul 30, 2011 1:44pm EDT
(Reuters) - Iraqi Prime Minister Nuri al-Maliki said on Saturday his government would buy 36 F-16 fighters from the United States, doubling the number it had initially planned to purchase to strengthen its weak air defenses.
The announcement of the deal came as Iraq and the U.S. government were discussing whether to keep some U.S. troops or military trainers in the OPEC country after the planned withdrawal of the last American soldiers at the end of the year.
"A delegation from the Iraqi Air Force along with advisers will travel to revive the contract to include a larger number than the contract had agreed before... We will make it 36 instead of 18," Maliki told reporters.
"We have to provide Iraq with airplanes to safeguard its sovereignty," he said.
Iraq's air force is one of the weakest branches of its armed forces, which are still battling insurgents and militias more than eight years after the U.S.-led invasion that toppled Sunni dictator Saddam Hussein.
The country still relies on U.S. forces for air support for its troops. The United States formally ended combat missions in Iraq last year and American soldiers are now mainly advising and assisting the Iraqi military.
Iraq this year delayed the initial purchase of the F-16s from Lockheed Martin after putting $900 million of allocated funds into its national food program to ease pressure from Iraqis protesting against poor basic services.
Maliki's government is discussing whether to ask for civilian contractors rather than keep U.S. troops on the ground after the withdrawal deadline, according to Iraqi sources. Keeping American soldiers on Iraqi soil is a sensitive issue for the fragile power-sharing coalition.
Violence in Iraq has eased since the bloody days of sectarian conflict in 2006-2007, but Sunni Islamist insurgents and Shi'ite militias still carry out almost daily attacks and assassinations.
Some of Iraq's neighbors and Kurds in the semi-autonomous north have in the past raised concerns about Baghdad purchasing sophisticated weapons systems such as F-16 jets.
Under Saddam, Iraq's air force was one of the largest in the region with hundreds of mainly Soviet-designed jets. Its military was disbanded after the former dictator was ousted following the invasion in 2003.
(Writing by Patrick Markey)
Vic comments that Iraq really needs a good air force, especially with this next article:
Vic Reads: Changes to BP Oil Contract will allow BP to be paid even when oil is not produced. Controversy has been sparked the Iraqi GOI agreement to pay BP even if the oil is not produced from the Romalia field, …BP negotiated that to risk this venture, they get paid even if security in Iraq is breached and the oil lines or production is destroyed …the much vaunted….changes to contract reveals that subsequent contracts are held behind closed doors….documents have been changed to put BP in a much advantageous position regarding the risks they will be taking, which could cover quota demand….and could curtail transport …….thru no fault of the operator
Vic: BP is pretty much governed and controlled by these contracts that reveal that they are guaranteed to get paid even if they don’t pump due to violence or attack.Iraq NEEDS a strong AIR FORCE!
Patriot: They refuse to come in and take all the risk, which pushes the accountability on the Iraqi Security
Forces. Also, people say HCL not done, but on June 5th, they were ordered to cease signing contracts on oil till the HCL was completed. Now with this, we see those contracts are resuming. We assume either the HCL is complete, or you have to search for another ruling, which we don’t think is the case, the HCL is done. The leap of faith that the HCL, Erbil, DFI, and Chapter 7 is not done, is FAR greater than faith that they are NOT done, because of what we are seeing from news and activities of the people and leaders. It is far more logical to accept the mountain of truth that they ARE DONE.
Deb: As Ramadan starts today, let’s pray the Iraqi people get what they have been waiting for. And she reminds that Shabibi said, ‘Very Soon.’
Patriot: Reminds that Maliki’s cabinet approved on June 22nd that Shabibi could RV the dinar.
Patriot asks Steve: Any questions we haven’t answered yet.
Steve: No, other than they’ve asked about Joey’s voice, and she isn’t feeling well today. Also, someone named Karen says they saw an article from CNN that Iraq, Iran, and Turkey have signed an agreement to trade oil in Euro’s.
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Q & A
TX Q John: Rumors of banks receiving DeLaRue machines, True?
Patriot: We’ve been hearing it for several months, but no evidence.
Tim adds: That company also makes counting machines, ATMs, and various other bank used calculators.
Steve: So it needs to be a specific question about one that authenticates IQD
Scott Talks about a group with a NASA engineer that contacted the company and worked his way through ranks to learn that DLR Machine is much more hype than authentic about being the only way to validate the currency. A Sovereign Royal actually can read our notes also, in fact more. This implies the DLR is more hype than the banks need to follow. DLR may not be so important as we have heard.
NC Q Nate: For Scott, as far as banks saying to end of 2012….I lost call connection a minute, ….I think it had to do with FDIC unlimited insurance law change till the end of 2012…does this imply an RV date is soon?
Scott: Tag Account created by FDIC regs in Feb, banks had to comply by March to go from 250k to unlimited coverage in Non Interest bearing accts. I don’t see a lot of people investing more than 250k in accounts in this economy. Also, Uncle Sam does a good job of getting what Uncle Sam needs, there is no way the dinarian is going to walk out with much cash, it will be an electronic deposit. Also they trained another 1500 IRS agents to prevent money laundering and dogs to smell the specific odor of IQD to prevent the funds from leaving the country. So they needed to protect those electronic deposits.
Q states: Talking about the 1/10th fractional banking lending credits
Scott: It’s a stop gap measure safe place to park the money till we get our plan together. They’re trying to make this idiot proof, simplified.
LA Q: Want to find a copy of the article that Scott wrote and Deb read, she has a group that needs this info?
Scott: scott@thecallsquad. and request that article, he will send it to her.
MI Q: Patriot had mentioned Real Estate, working on liability factor. I’m a developer contractor, and I gotta say that the Insurance liability is a huge issue, and he has software he would share. Get a good Title Insurance Agent and study Mechanic’s Lien Law ….he spoke quickly….missed some of content.
Patriot: Yes, sometimes when a contractor’s business gets into trouble, Accounts Receivables of contractors can get garnished by the state or feds, and the IRS shows up at the clients house looking for money owed to a contractor, who maybe didn’t even finish the job to justify the receivable.
FL Q: I want to cash-in and pay my taxes as soon as possible, what’s my procedure? Do we know a tax rate?
Patriot: No, we have to wait and see if anything changes, once it RVs; we must know the rule to play the game.
FL Q: Should we really worry about a bank going bust to lose our money? I’d rather earn interest so $250,000 is the FDIC limit for interest accounts
Scott: There are much better places to earn interest than from a checking account. This is still a very personal customizable plan for each person
FL Q: How soon will we know the rules?
Scott: Feels like the rule announcement for the cash-in procedures availability, with tax options and other rules will need to be very much simultaneously with the RV. Don’t forget about the State Tax in addition to the Federal Tax. I urge you to look at what’s happening in Washington right now, and I’m contacting my senators and congressmen since they are possibly going to affect my long term wealth, that may be in the process of decision now.
Ruth Thanks all and has a nice chat, then asked a question that was unclear??????
Patriot refers to something they’ve talked about, and says some are discussing that the smart money may be holding and waiting 6 months before cashing in, at least for the larger percentage of IQD holdings.
CA Maggie Q: Patriot, I don’t think you’ll like, but I have a suggestion, I’ve heard you refer to past business. In regard to bank regs from XYZ banks, whoever that may be, and whatever the FDIC banks are, if one puts money in an annuity with XYZ Insurance company, the legal paperwork can be daunting, but perhaps too much changes to that boilerplate paperwork, we investors could have certain things to watch out for that could be guidelines and alerts for we people to look for and understand. It might behoove us to have a backdrop against which we could read that boilerplate material with some advanced awareness, I hope this wouldn’t take too much time, knowing how bored you are all day long.
Patriot: Engage General Council to be your legal/financial/tax/Insurance/ plain English interpreter that is NEUTRAL and not making a commission. Yes, take the paperwork out to your advisors before signing anything.
VA Q John: Spoke with you Friday night, regarding status today, the debt ceiling issues, it looks like they claim to have a deal, but looking at the minutia of it, it really doesn’t seem like the deal will yet be very soon.
Patriot: IMO, Only IMO, if the debt ceiling in US is having any affect on the RV, then it is likely delayed by Shabibi himself, not wanting to tie his IQD to the dollar if it will fall, so that if it falls, he still has time to raise the rate to protect him knowing he is tied to it for at least 2 years without much fluctuation.
VA Q2: What about Ramadan?
Patriot: Ramadan, they always work every day, nothing shuts down, it won’t stop anyone from doing what they are supposed to be doing, especially if important. They won’t let any commitment to their God prevent them from doing the RV, in fact since it’s a charitable giving introspective holiday, it might even make them more likely to RV.
OK Q: Patriot talked a few nights ago, about alternative ways to get funding, using IQD as collateral, rumored to be illegal.
Patriot: Ask a bank to show you the regulation that it is illegal to use an International Foreign Instrument, or bearer bond, or Passbook Savings Notes….etc… I have seen a 1.5 Billion dollar loan that used a foreign instrument as collateral. I believe the IQD could be used as collateral, but it all depends on the negotiation and the agreed upon value. The lender may not give a high percentage Loan To Value (LTV) of foreign appraisal of that asset or its stated value.
Q & A Continues, Transcript Ends!
