TNT: Highlights from The Big Call Thursday Night 1-21-16
Ploganea: Bruce: Welcome. A lot going on behind the scenes. Will talk about it during intel portion. Opening with prayer.
Mangelo: Bruce call: we would like to welcome the call with a prayer
Ploganea: Bruce: Ending prayer. Intel now.
Mangelo: Bruce: thought for sure we were there in the window in the morning
Ploganea: Bruce: Thought we were there Tuesday night. There was a window between Tues night and Wed. Didn't happen when we thought. We thought, "Who stopped it." Not that the administration just wasn't ready.
Mangelo: Bruce: who stop it!!! no one ...it just wasn't ready...it's the exchange managers that needed their platforms inline with their exchange alignment
Ploganea: Bruce: Even now, the exchange manager for the various countries in the ones in first basket, need to align banks in each countries. Once done, the exchange managers in the rest of the world with align around the world, Thought it was done but it is now in process.
Mangelo: Bruce: they are just getting all the alignment done it will happen,
Ploganea: Bruce: Announcement in Davos, Switzerland for world economic forum, that we heard that Abadi, Shabbi and Jabouri as well as finance ministers of countries in 1st basket all represented at the meeting. Headline this AM was Abadi.
Ploganea: Bruce: Abadi's speech was translated into 19 languages. That set everything in motion. That was the official announcement. No going back now.
Mangelo: Bruce: All reps in Davos, Switzerland heard Abadi made the official announcement in 19 languages
Mangelo: Bruce: there is no going back now! Iraq and Iran should come out at the same time if not Iran shortly after that
Ploganea: Bruce: Iraq and Iran are going to be coming out within 24 hours of each other. Have heard rates will come out for both at the same time or within 24 hour period. Iraq theoretically first but may be simultataneous. 39 tankers left Iran and 29 left Iraq 7:00 CST tonght with 1/2 ships to china and 1/2 to US.
Mangelo : Bruce :: all ships are moving now
Ploganea: Bruce: Tankers going to China and US for refining oil. Left out and when hit international waters. 50% of the oil on the ships will be paid in TRNs as soon as they hit international waters.
Mangelo: Bruce: when the ships hit international water they will be paid by TRN"s
Ploganea: Bruce: Due to hit tomorrow PM, Iraq time.
Mangelo: Bruce: I am hearing that tomorrow morning should be happening
Ploganea: Bruce: Hearing things about tomorrow. Sounds good for the same time frame as what we heard for yesterday. Thought it would be quicker than it is. Disappointed that this is not a celebration call. But God's timing is right around the corner.
Mangelo: Bruce: we know it was happening and we know those announcements needed to happen in Davos, Switzerland
Ploganea: Bruce: It was important for the announcement by Abadi to be made this AM. Abadi and group heading back to Iraq. May be our blessing will be when Abadi gets back. Rest for now and be ready for the RV.
Mangelo: Bruce: it could happen when Abadi comes back to Iraq!!!!!!!!!!!
Ploganea: Bruce: We may do a celebration call before Tuesday. We will see what happens. It will be tough for mid-Atlantic and those hit by the weather to move around. There will be time to exchange.
Ploganea: Bruce: Somewhat shorter call tonight.
Mangelo: Bruce: opening up the Q & A
Ploganea: Bruce: Some things may be sensitive so we can't do anything to disrupt but hears that we are in process.
Ploganea: Bruce: Next caller: Prayer request. Someone that has only been in this 4 or 5 weeks. Asked how to explain to new person? Bruce: Tell them to listen to the recording of the calls. Can't bring people up to speed. We all expected this so much sooner. So many countries involved, banking, rates set and all the variables. Must be reviewed manually to verify computers.
Ploganea: Bruce: Continuing: Much like the butterfly affecting things around the world. The world economic forum in Davos is the perfect venue for the 1st basket countries to be there along with Abadi and Shabibi making announcements about this.
Ploganea: Bruce: Abadi's announcement was about 4 AM Eastern. Banks are ready, exchange locations ready. We could get notified very quickly. Should have this by morning unless something changes.
Mangelo: Bruce: caller what is the completion of the world economic reform…Bruce: is been done in Davos Switzerland and made the announcement at 4 am this morning, we should have it by morning
Ploganea: Bruce: Next caller: What was the agreement that they announced in Davos.?
Bruce: Not an agreement. An announcement of change of rates and announce that Iraq was international and in international trade. Know it was given but haven't heard a translation. Not waiting for any further announcement.
Ploganea: Bruce: We are just waiting for our banks to have the rates live and waiting for our toll free #.
Ploganea: Bruce: Abadi doesn't have to make another announcement it's done! just waiting for the banks to let us in!
Ploganea: Bruce: Next caller: Re Zimbabwe. What is going on. Bruce: They are still where they are. Things about currency moving well. We will have opportunity to exchange. They have legislation, "Z" that will have new banking system under AIIB. Legislation in place to do business thru AIIB.
Mangelo: Bruce: Zimbabwe is okay,
Ploganea: Bruce: As far as using USD, countries that are still pegged to USD, S. Korea, Kuwait and Saudi Arabia are taking themselves off the USD. That is helping to move this thru. Especially with oil. Will only use TRN or Rimani (SP?)
Mangelo: Bruce: the last countries to depeg from the USD, S Korea, Kuwait< Saudi Arabia!!!That is helping to move this along
Ploganea: Bruce: If it doesn't happen this AM. Bruce: Says could be anytime. Tomorrow AM a great window but if doesn't happen that AM. Then by Saturday is a great window.
Mangelo: Bruce: tomorrow is a great window
Lilypad: From Abadi's Facebook page 14 hrs ago: Prime Minister Dr. Haider Al-Abadi Meets World Bank President Jim Yong Kim and his delegation on the sidelines in davos world economic forum
Part 2: During the meeting discussed the world bank's support to Iraq with the expertise and streamline procedures and help to reform the banking system and provide experiences the management of water resources.
Ploganea:. Bruce: Chatting. Same question about Iraq and Iran. Wondered if Iran would prolong. Bruce: No. Just synchronizing rates in countries. Part of the realignment of rates.
Mangelo: Bruce: they are just synchronizing everything so all the platforms go at the same time!
Mangelo: Bruce: we are expecting all the currency going at the same time, with all good rates
Ploganea: Bruce: Next caller: Chatting about weather. Can you give me insight on double dipping? Bruce: What does that mean to you? Caller: I have 3 currencies. Can I cash in then go buy more? Bruce said that all that you have are expected to go at the same time. So why double dip buying those currencies again? Caller: I was just going to buy rupiah. Bruce: AFter the revalue, those currency will not be cheap. They will already have a high value.
Mangelo: Bruce: during the exchange ask for the contract rate, and ask the WM too
Ploganea: Bruce: When we get ready to negotiate for a contract rate. Talk to exchanger or WM? Bruce: Talk to the exchanger and see how that goes. If you need to talk to the WM afterwards, may be able to do a little better talking to WM about contract depending on the amount and how long you keep in the bank.
Ploganea: Bruce: Sometimes the codes expire over time. Sometimes when they synchronize rates, they may send new rates out. That is what happened or is happening now.
Ploganea: Bruce: Next caller: Have friends in Canada. When you say it could happen tomorrow, does that include all countries? Bruce: It will happen around the world at the same time as fast as electricity travels. Expect East to West, China, SE Asia then westward. Canada should be same time as US.
Mangelo: Bruce: all codes are in the banks, everything goes at the same time
Ploganea: Bruce: Any news about Canada that is different that US? RBC and TD bank the main banks. Scotia may only exchange the Zim but that is 2 weeks old and may have changed. RBC and TC will handle all the currencies.
Mangelo: Bruce: it's all good, the announcements have been made just waiting for it to roll out here now
Ploganea: Bruce: Next caller: Are we close? I dialed in late. Bruce: Laugh, yes we are very close. Annoucements made in Davos during World Economic Forum. Heard by Saturday if not before. Caller: I can't wait for this to go. Bruce: You and 5 million other people.
Mangelo: Bruce: haven't heard much of the 2% in the groups by the banks
Ploganea: Bruce: Last caller: Haven't heard much about the spread fee. Bruce: We have heard within the groups the banks are picking up the rate. (WF and HSC?) each are paying 1%.
Ploganea: Bruce: Hearing stuff pointing toward the finality of this. We believe the ride is almost over. Ready to move to the next phase of our life. Get a good night sleep and see what tomorrow brings.
Mangelo: Bruce call: I am hearing great things that this ride is about to be over...Kent take us out with a prayer
Ploganea: Bruce: Praying the call out.
Ploganea: Bruce:Call ended.
The big call Bruce replay is 605-562-3198 Pin #123456