Dr. Source: BRUCE - THE BIG CALL CC NOTES TUESDAY AUGUST 9, 2016
Bruce: This is really, really coming down to the final countdown. I was trying to think what Intel do I have over the last 3 or 4 days that’s relevant that will make you guys sit up and take notice that we are there.
Let’s just start with the concept that; let’s start with Iraq. We don’t usually do a whole lot of Intel about Iraq, but it is relevant, it is relevant. What we are hearing about Iraq is the Iraqi stock exchange, the ISX, is just about ready to go internationally.
Now we’ve heard about this in the past months ago, but to our knowledge it never did go international, at least not with a new rate.
And we are about ready to receive that news. We know people that have clients that are ready to do trades immediately on the exchange as soon as it opens for that international trading. We know that there are approximately 3.2 million trades on deck to be entered and processed right off the bat on day one. That’s a lot of trades.
We know that the volume of those trades should be over $1.9 trillion dollars. Actually we’ve heard more trades have come up in addition to the 3.2 million that are ready to start.
I had heard that that might open up today around 4 noon eastern I don’t know for sure if it did. I do not have confirmation on that, but I feel that is significant for us because we understand there will be a new rate tied to the Dinar a so called international rate.
I understand that that rate is on its way up from, uh I don’t usually do rates but let’s talk about this one because it’s in conjunction with the Iraqi stock exchange, but I’ve heard a rate over $5. That could be the international rate for Iraq so if that occurs that’s a really, really a good sign.
It may occur in conjunction with us starting. It may occur before hand or it may start in conjunction like a shotgun start. Either way it will be fine. I just thought it was interesting that the Iraqi stock is exchange is going to be so big right off the bat. That’s going to be a big market.
Let’s move it from Iraq. Let’s talk about what’s been happening out west. We know that we’ve had a lot of activity over there with some, with an exchange group of uh individuals from the west that were supposed to have exchanged yesterday and today and uh should be heading back home tomorrow.
And so in other words, that aspect of what they are doing should be complete if it’s not complete already.
Key figures out west have done what they needed to do and that completed earlier today. As some of you may have read, there have been a number of exchanges taken place starting, I know yesterday, at little bit after noon with scheduled appointments to take us all the way through Sunday night.
Now these are what we have termed pre-arranged appointment times, pre-arranged appointment times.
These have been actually talked about I think since December of 2013, this goes a long way back. These are exchange appointments that deal with people that have a relationship with the bank and uh they’ve from what I understand have pre-negotiated rates already.
They are not a group, but yet they have a pre-negotiated rates.
I believe the rates are lower than what we are going to be looking at. So with that being said, that being the case uh, I think it’s an indicator that appointments have been set for everyday this week starting with either Sunday or Monday.
I know now for sure Monday and exchanges have been taking place. So what’s interesting is that what we can take from that, is that the process has started for a larger group than just private groups.
Now where we fit into this equation?
My understanding is we should just dovetail into that, and feather into that particular uh set of appointment times this week. Don’t know exactly when our appointment times will be, but the indication is that the uh 800 number that’s coming is coming very, very shortly.
And you know we don’t call it. We don’t call dates and rates on this call, but we do know when it’s getting close.
I’m telling you from what everybody that I’ve talked to, every piece of Intel, every text that’s come in has point to the “I” word; imminent. Not the “E” word eminent; the “I” word; imminent. And so that’s what, that’s where we are right now as far as that goes.
Exchanges have taken place. Uh, Zim centers are ready to go. There are certain wealth managers and top tier uh, asset managers uh from another branch of Wells Fargo that are, that are going to be at the Zim redemption centers. Certain of the redemption centers approximately 27 - 28% of them uh are going to be what I call zim specific.
In other words, uh they’re there to not only exchange zim, but zim is going to be exchanged there where it’s not going to be exchanged at every location for Wells Fargo from what I understand.
But they do have approximately 28% of those exchange centers of those 56, 5,700 in north in the U.S. and maybe 7,000 total in the U.S. and Canada will be taking that currency. And so we do have a period of time for those exchanges to take place and we are in that window now. So we shouldn’t be too far from when we need to get started; shouldn’t be very far from that.
Uh, I’m trying to think what else I can talk about.
We know guys, we’ve talked about the time for the exchange to be a minimum of 40 minutes and that would be if you didn’t have a whole lot of currency, but you just had your act together and you go through pretty quickly.
And then all the way up to about 3 hours and 20 minutes. And that might be a little bit long, but I think that depends, you know if you come in there with 2 or 3 suitcases of currency and you just have a lot to do and they will have that capability to put 4 or 5 or maybe 6 people or so on your exchange and help you get that facilitated a little more quickly.
I don’t think most of us are in that uh in that place uh, then we should be able to move it through more quickly.
I will say this, we did have uh, we did have some information between now and the last call that we did about cashier’s checks at the time of exchange and I think I’m not talking out of school if I let you know that you can get, you know, maybe 4, 5 maybe 6 or 7 uh bank checks or what we call cashier’s checks at the time of your exchange, but they need to be under half a million dollars each; each check under a half a million.
Now that would be for you initial appointment. Now when you go back and meet with wealth management a week or 2 later, and you set an appointment and you’ve got an appointment and you need a cashier’s check, I believe you will be able to get that for up to five million dollars. That’s on your second time getting back with your wealth management people at Wells Fargo. Uh, so that’s interesting to know.
My understanding was these exchanges that occurred starting yesterday a little after noon that they did get our new USN currency. In other words the USN’s the TRN’s are live and so they did exchange for real money and not skr’s.
And so that’s what I’ve heard from people in the know so I’m going to take that as truth and uh and say that will be the case for us too
Uh, otherwise when it comes to the exchange itself, I’m trying to think of something that’s new that I may not have thought of. You know we are not really sure of all the details about the structured payouts, but we know that they’ve got it set that if you’re older than 60-65 you have a time frame of no less than 5 years for your payout.
I think realistically the payouts are going to be more over 20 to 50 years. That’s what I understand so that will be good. You will be able to negotiate a rate of interest that’s really good for the amount of money that you have.
Be able to negotiate that as well as negotiate your rates that we talked about the last two times on the call. Uh based really on your ability to talk with wisdom about your humanitarian projects and just how large that’s going to be.
Of course, not just the concept of humanitarian projects, but the concept of putting people to work in those projects. Don’t neglect the employment part of your humanitarian project.