_5:03 PM CST
[BWM] OK we're about to get started... just went real quick through the questions. Remember, if you don't see your "exact" question it's because it's been answered or similar to another question. We will post the Q&A afterwards in the forums... and then you know it just gets squirrely from there
[tigers] Do you think it really has rv'd and we haven't seen yet? or do more things still need to happen before it rv's ?
[BWM] All the information coming in seems to point that all the things that needed to be accomplished have been done and we are ready to see an internationally traded rate for the Iraqi dinar...
[SGD] Can you give any clarity to who needs to "push the button" Shabibi? Maliki? IMF? And again, thank you for all you have given us.
[BWM] Shabibi has the ultimate control of the "button"...hence, Maliki's inability to get this done even with threats against the CBI and such... as far as the international release there are other agencies involved... BIS, IMF and such...
[debbyB] The last few weeks it’s been said “all is done” but yet it seems like for every step forward we take 10 steps back. Are we really done this time? If we are, when do you think we will see it?
[BWM] Debby, as mentioned earlier in main chat, this is truly an event of global proportions and because of that there are too many variables to just "push the button" regardless of our selfish desires to see this done to benefit us... to mess this up would have almost irreparable damage to our global markets.
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[joyjoyjoyjoy] The real question is, “Who will the GOI announcement come from and go to?”
[BWM] the GOI doesn't HAVE to be announced BEFORE the RV... Shabibi just stated that he wanted it in place to RV... I would expect there would be a number of simultaneous announcements all coming out and setting things in place the way we've heard they would... just perhaps not in the order we expected
[taildragger] With all of us in agreement that this should have happened, please if you know, tell us what will or may happen to Iraq government and their world sovereignty if it doesn't happen in say 24-48 hours? Thanks BWM - glad to be on your team.
[BWM] There have been news reports about Iraq's sovereignty but knowing what I know about the news, still there are things that remain "hidden" or "yellowed" by journalism. In order for them to be truly sovereign we know what must occur.. With that said, how long before those announcements must occur? Well we believe they can obviously keep things quiet for a short time but not if they want to be international
[jamesdheadrick] With almost everyone saying this is done what are we waiting on? Or is it another ground hog day?
[BWM] We are waiting on the rate to show at YOUR bank.... period. Now that means the UST must alert them to release the rate which means the CBI must have told them it was live.
[gloryv] Can you start with giving us where you think we are right now?.... and what we should expect? Thank you.
[BWM] We should expect to be patient... Again, this is not our direct blessing until you have gone to the bank... regardless of the tests you face and problems you are dealing with... the problems that would arise if this doesn't occur would pale anything that you are currently struggling with…
[tigers] Even though we are told “we are close” for awhile now, can Iraq start another year with currency worth very little and still trade oil and other goods with the world?
[BWM] Deals are made and in place... if they falter on those and don't follow through, well it wouldn't be pretty considering the companies that they would have to answer to and that would be pulling out...
[mr_roboto] ] Do you believe that the RV has already taken place on Friday evening and will show Monday/Tuesday? How could this be true with Dinar Banker selling still at 1170? Shouldn’t they have been notified 30 minutes beforehand per Ty?
[BWM] The dealers make money REGARDLESS of the RV... they make money off selling it... they make money cashing it in... they are a BUSINESS... period. So to think that they will shut down post rv is incorrect... they are currency dealers...and they will be notified for the RATE RELEASE.. not the iraqi rv... don't wait for the wrong things
[res dinar] Has anyone checked with Dinar Banker or any other currency seller, and are they still selling dinar?
[BWM] As of this afternoon.. yes
[tc0043] [tc0043] Will the World Global Settlements and Prosperity Programs benefit US citizens?
[BWM] I don't do those... but I know people who are expecting to benefit directly from those... so we will see
[Dove] Who started the "last word" race - it's hilarious. (Thank you)
[BWM] It was me... regardless of what PIF says... WINNER
[..tigger1] If we cash out with Dinar Banker or Dinar Trader and we lock our price with them, how would that help the UST with the account that is reserved for the oil that we get from IRAQ?
[BWM] The US will benefit from tax revenues... they will also benefit from the dinar exchanged thru the UST with the CBI... so it would seem they would make it as attractive as possible to go to the banks... again, most of the real answers will come once the rate is released and we see the spreads from Banks, UST and CBI...
[TUG] Will this website be up post rv?
[BWM] Absolutely... BUBBA gets bored real easy
[sonnayhwh] Is the RV still in Iraq's hands? or the three-letter agencies (BIS, IMF, UST, PIF)??
[BWM] It's in PIF's hands... but Katt keeps knocking it out... I blame her.
[BLPastor] Is the RV a question of "when" and not "if"?
[seatreasure3] How solid do you BELIEVE the US currency will be after this transfer of wealth?
[BWM] That's a good question. I believe in diversity regardless... metals, property and sadly foreign currency... a lot will depend on the handling of the transfer of the currency to an asset backed protection or not... get the information you need to make an informed decision in YOUR best interest
[californiaguy] What is holding this up? Do we really know or is it conjecture?
[BWM] We know what we know - that's about as best I can describe it. I can tell you my opinion but have tried to do the best at passing thru what we are HEARING and how it relates to us... and then speculating from there
[smokinfree] Do you know what banks will be handling the cash in?
[BWM] Most will be involved with this. NOW, whether every branch does.. different issue... security, cash and abilities will go a long way in banks determining what branches within their own companies will handle cash ins
[Bigdog55] Will Australia or Singapore be the first to see this
[BWM] We will all "SEE" it at the same time. Now who is able to get to the bank first... different story... and we'll see when the rate is announced and displayed...
[tammy] Is it logical to look for rate changes today? is that even possible with everything closed?
[BWM] Tonight would be earliest in my opinion. Mainly because all central banks were closed today and tomorrow the world starts doing business... now could it go into tomorrow night (Tuesday AM) sure, that would make sense also.. but just saying tonight (Monday AM) would be earliest I would expect to see it.
[Falcon777] Do you believe we will be cashing in Tuesday / Wednesday this week?
[BWM] That would be the logical scenario just from a bank operating protocol.
[pulaski] Do you think one possibility for the RV not showing just yet is that they are trying to make sure it processes through the smaller countries banking systems that aren't as advanced as ours?
[BWM] Remember not all countries are involved with the dinar. How the revaluing of currencies affect their currency could be a detail but it seems all that was settled
[homeschoolmama] I asked Jonny this earlier but did not get an answer. If the window is now Tuesday at 2 am, do you have any feelings as to a new window if something happens and it doesn't show Tuesday? Will it move to Friday/Saturday or will it be to the point that it is put off for awhile?
[BWM] I can't see it being "held off" for anything. If it has not showed by Tuesday AM, I have stated that I need answers and will deal with personal issues that will make me make some hard decisions on my involvement in this at this time... We wait together and discern the information as it comes in.
[theda] Based on your answer to debbyB, it seems as if you are not in agreement with those that are saying this week. Is that so?
[BWM] On the contrary... I like tonight especially into tomorrow night.
[zoomzoome] Who pays Iraq for the oil they export and what happens to those dollar amounts once in Iraqi hands?
[BWM] Well the Importer would seem the person paying for the product and the contracts can only be completed once the values are determined and actuated. That is a problem for some companies that have made agreements on dinar amounts and are waiting for those contracts to be completed.
[BWM] World Global Settlements... PP - Prosperity Packages.... Google
[.TNGal] If we cash in at a bank we are responsible for UST fees. How is it anybody cashing in with Dinar Banker will not be responsible for these fees? Thank you
[BWM] ANY place you go to cash in you will fill out a ficen104 form. It will explain how much you transferred, deposited or received in cash... very, very specifically.
[theda] Are you concerned that this might not happen? Or that it might not happen for another 6 months or longer?
[BWM] I'm not concerned at the moment because I can't control it. Do I have alternative plans in place? Yes - that's my nature, but I'm not worried about the possibility of passing this week.
[achievepubs] Do you think banks in smaller cities will be involved? or do we have to travel to larger branches in larger cities?
[BWM] Welcome to my world. It will depend on the banks. Personally, mine has to send the money off to be verified.. NOT in my plans.. they may get to "hold" a small percentage of my funds post cash in but I will be looking to diversify my funds between several banks for protection.
[kyf58] Do you see this going past this week? If so, are we on a week to week basis?
[BWM] I'm not really accepting past the hour-to-hour phase at this point.
[punkin] What if the RV does not happen this week - then what would be the problem?
[BWM] We'll only know that if - A) it doesn't; and information comes available to explain that.
[bearfoot] What are your thoughts on the quick cash-in theory?
[BWM] Depends on the rate to me... high I'm OUT... and high to me is $5-6 up.
[jbrown57] In your opinion, how long do you believe this current situation [other currencies stagnant, waiting on Iraq to rv] can go on without there having another plan implemented and what would that plan be?
[BWM] I have never believed that these countries can continue to operate especially when other countries and agencies are loaning money to these other countries that THEY don't have to loan. So how can we continue to perpetuate the process of "electronic money" before it bites them badly?
[rjandrj2] What about the VND? Haven't heard much about it lately.
[BWM] rjandrj2 Rate higher than originally expected which to me was 2-3 cents
[brothers4751] What is your opinion on a short cash in window if it comes out high?
[BWM] brothers4751 Sorry - just answered this...high I'm out.
[msjeta1] Do you foresee Iran as being a problem that could stall things?
[BWM] No, not at all...
[suziqiqd] There has been a lot of “smoke and mirrors” and it's hard to know what to believe. Many say it might not show till Wednesday, Thursday or Friday. I thought the 3-day weekend was said to be perfect. Some say because they are approving the budget again. I thought it was already approved. (?)
[BWM] Everyone has an opinion... and like I've stated in the past, go with what you can honestly believe in and support. Many of you have heard enough that you understand what some are about and just let it go. In the end it's your decision, don't badmouth someone else for their opinion but be able to debate based on that you believe and can explain.
[Manna] How can Iraq be head of OPEC as of January 1, 2012 without an RV of their currency?
[BWM] Kinda hard when they can't be a member without international trading.
[petersma] It seemed that for a few days the majority of the dinar 'intel providers' were aligned that this was happening/has happened. Now it seems that they are aligned that they don't know why it hasn't shown yet, or what's going on. Does this analogy lend itself to a possible national U.S. intel blackout?
[BWM] I don't believe the US could blackout diddley. Too many people who want to run tell and be the first... and still you have to understand this is a FLUID situation. You can't get dozen people from different cultures together and get one decision much less the number of countries that have been involved with this and expect anything to happen quickly and without issues.
[sfmhi] Are you confident that all the government requirements are met - i.e., GOI - ministers identified and seated, Erbil implemented - so that the RV can be a reality?
[BWM] Yes... the order you see - all those announced is still yet to be seen...
[Girlpup] Do you think one could cash in the initial note(s) at a foreign exchange at an airport? If so, how do they charge for xactions and do they wire to our banks? TY
[BWM] That would depend on the agency you were with. Problems with holding large cash deposits and such would come into play and the fees are associated with each agency. Wouldn't hurt to call and see their policies BEFOREhand
[2GODBTHEGLORY] Do you think "O's" postponement to request a debt increase is the result of his knowledge that tax revenue soon will be available due to the IQD cash-in?
[BWM] I don't speculate with the current administration. I respect the office and it stops there.
[achievepubs] Regarding the de la rue machines - Do we just have to call each bank to see if they have one, or will major banks have them?
[BWM] Many banks will NOT use de la rue machines; they are expensive. But - they will use their currency books or the online program that a number have... just make sure before you go cash in which BRANCH you need to go to, to get ONSITE verification.
[maw33312] In your opinion, on a scale from 1-10 [ten being a sure thing], how strongly do you think this will show on CBI tomorrow morning at update? Just your opinion...
[BWM] I got all kinds of opinions but this is like Russian roulette when dealing with Iraq. I will say I think when it occurs will tell you a lot about who is in control. If it went tonight and we were "shutout" tomorrow with banks it would be Iraq's play. If it goes until Monday night then the US was a driving factor in not being a day behind... a lot in play at this time IMO.
[californiaguy] With so many “Big 4” bank branches, and without calling all over - only to get information that could be inaccurate - how we will find out the banks closest to our homes that will cash-out?
[BWM] Just ask your local branch which branch has the capability to do ONSITE verification for foreign currency in larger amounts... they will either give you a branch or tell you that they have to send it off.
[RVMAN] Do you think that they will be pulling our taxes out as we cash in?
[BWM] Can't. According to what an IRS agent told me that's illegal for them to operate within the banks.
[jupiteruran] Would these UST fees affect Canada too?
[BWM] That's United States Treasury things... whole other ballgame for other countries...
[theda] Would it not seem logical that the dinar has to RV before Maliki assumes his position with OPEC (I think that's the agency he will preside over) or becomes a full member of the WTO or hosts the Arab Summit that is slated for March, I believe?
[BWM] Yes... there's that dang logical word again.
[HEARTLANDLOCKED] Can you comment on the lack of press in the U.S. as this world changing even looms. I hear "experts” talk about economics and non-speak of this option as even discussable...
[BWM] you know what they want you to know... until you become someone they feel they need to "talk" to
[ChazT] Some say, "cash in quickly!" How quickly is quickly?
[BWM] How fast can you get to the bank... how well have you planned BEFORE
[theda] Do you believe that the all the intel that has been passed around has been detrimental to the release of the dinar or are we not even noticed?
[BWM] theda Noticed, yes... can't say that any black suv's have shown up at my house... yet, but post RV there will be a rather large black truck I will take credit for
[newshound] BWM another intel provider talked about the system trying to keep the whales and big investors from getting the lead on this investment, do you think this is why we are seeing so much smoke and so many possible rv times?
[BWM] newshound - The whales will get what they get... the power shift will happen once there are more "regular" people with money... but then be careful who your friends are.
[theda] Would it not seem that with all the pronouncements of them being a sovereign country, responsible for their own destiny, etc. they would need, want, to be a country with their own currency, immediately, rather than later where they could lose the potential income from the outside investors waiting?
[BWM] Indeed. Certain things MUST occur... and we wait.
[sfmhi] Do you have any tips on the next promising foreign currency to invest in?
[BWM] sfmhi - One at a time.... we'll be around
faithdinar] Can "they" keep this RV to only the institutions and whales and never allow it to be cashed in by us "common folk?"
[BWM] faithdinar - I mean… there are still lawyers that are just unscrupulous enough to sue the government... and the ones I have asked believe you can win.
[rdailey] How can DinarBanker lock in a rate when they are taking a big chance on the rate going down? If I lock in upfront at $5, then before my appointment time it drops to $2, seems they would be taking a huge loss.
[BWM] Great question. I have asked this myself and the only answer that has made sense is that the dealers would lock rates also. Guess we'll know once this hits what the real answer is... and remember that the statement with Dinar Banker says they will make EVERY EFFORT to give you the CBI rate officially... there are always loopholes in every system...just be careful.
[stitches] So no more algorithms is that finished?
[BWM] We believe that this is just a matter of "showing"
[blossomcat] In Canada do we have to complete a FINCEN form ?
[BWM] That's a great question if they have a similar form... it's a US form so I'm sure they have something similar.
[suziqiqd] If you don't have trusts set up yet and we need to cash in quickly for some reason, what would I need to do first? Cash-in and then get trust? Get trust then cash-in?
[BWM] Trusts won't take long and the banks can help you set up something to transfer money into. They want your business.
[electricman75] I was told that when I go to cash out, not to let my dinar out of my sight; not to let them send it off! Is this true??
[BWM] That's up to you... I ain't letting them send mine off... just because
[jtwest] Do you think that since everybody had turnip greens, cabbage, blackeyed peas and cornbread that the RV will show up soon?
[BWM] Had mine... but that's just how the BUBBA's work
[jm44] Some people worry about the rate coming out high and then dropping rapidly. I feel that, if companies like Dinar Banker "lock in" a rate when an appointment is made, their opinion is that the rate will maintain long enough for them to come out ahead. Your thoughts?
[BWM] As stated earlier... an interesting scenario could arise from this... we will see
[theda] Do you agree there is a greater chance that if Iraq is in control of the RV, they will announce it when our banks are closed just to display their new sovereignty, position and ability to make that decision?
[BWM] Again... we believe on the CBI which means that we would be closed... but the timing is what day of the week for me to determine who's in "control"
[rjandrj2] Could you recap the steps that everyone “should have done or planned” before the rv? We hear tax attorneys and CPA's but what if someone doesn't have the means the do that before the RV?
[BWM] (1) Know what banks you will finally place your money into; (2) know what dealers/banks etc., are open and when and the procedures to get into see them; (3) decide based on the rate where you will go; (4) what personal security do you need to have worked out based on your cash in location; (5) does your bank offer free tax attorney counsel? (6) what and how many type of trusts do you need... these are just a few of the questions you should have asked and hopefully have reasonable answers for.
[brothers4751] Doesn't IRAQ have 2% over 3 months variation maximum on a RV????
[BWM] The constitution of Iraq states they must maintain a 2% range BUT there are ways around that with how it is termed in regards to managed float vs free float vs dirty float. Again, HOW it is termed when released with the rate will be important.
[stillsuki2] I have been told many times not to talk to the banks until after the RV and you are saying, “ask them now.” I'm sure things change as we have gone along, just wondering.
[BWM] There are questions you can ask them about your "investment" you never have to mention dinar.
[drcarolyn] Everyone says to be ready; do your homework but then also say DON'T call the banks. So how do we get ready and have a plan and NOT call the banks??? It makes me nervous because I haven't called the banks!!!
[BWM] Again...talk about your maturing investment... don't mention dinar... just ask them about asset protection and such... give them as little information as you can while getting as much as you can.
[vivrelereve] You are scaring people - please, do you think "WE" can be left out of cash in? I do not want to even imagine the time it takes to sue. Thank you
[BWM] I'm saying that because I don't believe you can be left out... calm, slow breathing
[sfmhi] Thank you again for taking the time to answer our never ending questions. Every day brings up a new set of conditions requiring analysis and more info. You provide your honest perspective and I appreciate that. I like you will see if this RV materializes this week - if not, do something else.
This room is no longer being moderated.
[BWM] Thanks everyone... that's it for questions... so again, HAPPY NEW YEAR... it'll be a good one
[BWM] and the room is open now