(Dinar Recaps Note: We posted part of this on Thursday, here is the complete transcript. TYVM RM for sending this to Recaps. For the recording post, CLICK HERE.)
Dr. Todd CC (transcribed) – 09-06-12 - Part 1
Gary: I have a friend I brought in on the call. You asked for an explanation on the global funds, so I thought I would go to an expert who basically crested some of that and his history goes way back. I kind of tracked down Dr. Todd and asked him if he would join us on this call and explain what the global funds are because most people tie them into lawsuits and other things, but it’s part of a plan that has been brought to fruition and I know that he is currently involved in some things going on with that, so I figured he would be able to answer it. Dr. Todd can you hear me right now ??
Dr. Todd: Yes. Go ahead.
Gary: We have heard so much about these global funds and people not being able to, you know they’re part of a lawsuit. There is a lot of half truth and lot of reality here in some other fronts. I would really like some explanation as to what is this global fund that people have been working on and countries have been working with and I know those funds have been moved around between some very high profile banks and have had a history that you’re very aware of. I’m hoping you might be able to put a little clarification of what it’s all about and what the expectations are. Is it real ?
Tony: Let me ask this first be before we get started. I want to make sure this is still the global settlements and the global fund. That you are talking about the same thing. Is this a lawsuit and are people able to buy into. Re we talking about the same thing ?
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Gary: Yeah we are because there has been partial misinformation and there has been other stretches or spins put on it and so I think the real situation we have to back up and find what the real terminology is tied in with and where it goes. Once you see reality, once you see a real dollar bill you can point to the false entities out there and get an understanding of the asset based. This would be a great opportunity for people to get a real understanding of what’s really going on internationally with currencies. So Dr. Todd I’ll start with what is a global fund. Where does it come from ?
Dr. Todd: Well the name as I understand it that is used most today in global settlements. Let’s go back to the origin of this and then the other key factor is these funds were due to be completely paid off by 2008 according to a Treasury treaty that was set in for 50 years in 1958. Now what was origin of those funds that were included at that time (in 1958) and how did this come about at that time ? The duration for 50 years was decided post World War II. The banks in Europe essentially had little that they could put in acceptable assets that could be used for the redeveloped at that time. This was set up initially in the Marshall Plan. It was limited to just a few years. Initially, three years and then certain extensions for another several years. This completely went out as having a legislative base. The U.S. supported those from guarantees from the Treasury that were never made public. Where did they get the funds that the banks initially issued to come into this ? The Marshall Plan itself was not developed in any way shape or form to take care of the Far East. There was tremendous reconstruction that had to take place there. There was more gold and real assets available in the Far East then were currently available in Europe at that time. General MacArthur had the complete control of reconstruction. That authority was not relinquished until he was fired by President Truman in 1951. That came so suddenly that his successor, General Ridgeway, took over as the U.S. and UN supreme headquarters for the Far East in Tokyo. General MacArthur’s chief of staff, General Whitney, at that time also a full general, not a five star, but he ranked General Ridgeway just slightly on what is known in the service as state of rank. Gen Ridgeway’s mission and command made him the senior person. The chief thing they had to do there was to work out everything from an economic standpoint and a financial standpoint that Gen McArthur had started. General Whitney was given complete control of that reporting back to General Bradley who at that time was Chief of Staff and to the president. By Treasury treaty we further guaranteed much of the bank operations of the top banks in Europe at that time. The person that was in control of all of this and remains in control of all of it today is Queen Elizabeth. I think that very soon she will be divesting herself all of that and this will come about. How did Queen Elizabeth get control of this ? These funds were so important and meaningful internationally and would be for a number of years that they wanted a person with real longevity to have it. Initially they went to the Vatican who fortuitously turned it down. When they took a second look at it, they wanted somebody who was going to have the longevity and they felt that Queen Elizabeth and the status of Great Britain both long term prior to that and even them. They felt they could trust the longevity of the monarchy. Therefore her father set up a sacred oath that she would take this on and see it through for the 50 year period. 50 years was selected because they did not feel the reconstruction could not be done in less time. We all know that is occurred very well both in Japan and in Europe in roughly twenty years. They were back with a lot that had been done. That speaks well for the people in the worst hit areas in Europe and primarily Japan. Because of the firing of MacArthur and the reconstruction of that, most of this work was not completed until about 1954 in the Far East command that Gen Ridgeway had at that time and General Whitney was working on. The funds based there at that time does not sound like a great deal in the world today, but all of you are aware of what they call private placements now. The nomenclature of these things since WWII has taken on a number of names as has the global settlements over those periods of time. They were looking at something at times just above and at times just below100 billion dollars. The US had guaranteed somewhere in excess of 20 billion dollars, but the value of gold and where it was in getting those things together and signed over in transactions over the 50 years brought this into several trillions of dollars. Like I said that should have been paid in full prior to 2008 which was the 50th anniversary of the 1958.
Dr Todd: The question probably comes at this time is probably how do I know about these things?
I was an air control officer just after hostilities in Korea. They had been working on this for some time, but they needed to be able to secretly move things back and forth particularly in the Far East to settle the final things. There was a committee was set up to make the final report and I was the junior officer that helped write the report that went to our president, Queen Elizabeth and the key person in the Far East that it went to. It’s in the Emperor’s records themselves. I think that the point to make after that is how did these things grow and was there any litigation involving any of this? There was litigation, all of which was set aside. That doesn’t mean that they didn’t get certain things out and there weren’t certain uses of it. Because there were. If you recall in the later 50’s there was quite a bit of contention between Taiwan and China of the earliest parse. The shelling of Matsu and Quimoi which were close to the Chinese mainland. This was settled out and some of those funds it was deemed necessary because China hadn’t initially had any of those funds. Things had settled down over there comparatively with definite communist takeover of mainland China. Things under Cheng Hi Shek over Taiwan, they needed some funds to solidify that transaction and to satisfy China. Some gold and certain other parts of this were moved around to accomplish this. Not large amounts of it, but modest amounts. That was sort of the rebirth in mainland China of some of its’ earliest gold holdings by the communist government. They hadn’t gotten into full force of holding this together. That’s also how they came into this today as things were involved.
Dr. Todd: With this having essentially not been paid out before 2008 it was long about then that the dinar situation had come up and one of the stipulations in the settlement that General Schwartzkopf had in the ceasefire, in the tent, in the desert, had an administrative memorandum that came about a week later from Washington because Washington was leading that coalition that substantially beat Iraq during the Kuwait war. In that administrative memorandum showed that in order for Iraq to regain sovereignty it had to have in place a new currency, a new dinar and essentially that was supposed to be, it was in writing in the administrative memorandum, it was supposed to be before Iraq could take full sovereignty. There could be no time frame placed on that. This administration, the present one, apparently changed that because we all know that sovereignty went to them roughly speaking a year ago.
Tony: Let me interrupt you for a second. I want to stop you there for a moment because you said that was during the Kuwait/Iraq war. That that agreement came, but the Iraq war came years later.
Dr. Todd: Iraq attacked Kuwait in 1990 (code name: Desert Storm). From that time on the U.S. and the allied forces that were there were given clear control of the skies and that is part of what lead to the Iraq war itself, not the Kuwait/Iraq war.
Tony: OK. I wanted you to separate the two.
Dr Todd: Them regaining sovereignty went back to the first Iraqi war and that was kicking them out of Kuwait. At that time rather than going ahead and make the payments that should have been coming, I would have said at least from 2004, when all of these things were set up in1954, but they extended that time to 2008 based on 50 years after the US Treasury Treaty. So that’s what gave the origin in that 50 years was a building of the banks primarily in Europe. The active bank in the Far East that was handling that was Mitsubishi Bank. That is where part of the funds that still have to be paid out now are designated as the global settlements. Part of it is there and the rest is controlled in London by the Royal Bank of Scotland because the Queen had initially set it earlier on in Barclays, but 5 about years ago she moved that responsibility to the Royal Bank of Scotland. Most of the keys banks in Europe will be taking care of their part of the settlement, but the Queen has not yet designated, but in all probability it will move through the Royal Bank of Scotland because that’s the bank that she controls and the Bank of England, being the central bank of the UK, does not want to do it. They want a key commercial bank in the UK to do it. That’s where these things are going to come out from. This wasn’t fully done until Ike was president and he had taken over from Harry Truman in 1953. That’s when it was signed and most of the things went through. All of the presidents since then have been aware of this and have let it remain essentially where it was. When Bush Sr. went to China, as the ambassador, there were some arrangements made for them to have a greater participation. There will be sector groups, government and such that will be paid out and there are private sector groups that will be paid out because that’s where the original gold and assets came. Some of that private sector was the Far East, some in Europe and some in the U.S. It was guaranteed up to 20 billion by the U.S. The U.S. will be getting one of the larger amounts out of those global settlements. This was also known as the patriot package. All of this was aggregated and the person who took the responsibility was the Queen. All of this has been kept quiet. All of you that are involved in this, I don’t think any of you have seen in the major media or in all of the financial papers (Wall St Journal, Economist out of the UK). Little or nothing has been mentioned in these. Citizens in the U.S. and worldwide, the vast majority of them know little or nothing about this. That’s the way it came up. Most of the legal suits that came up have been knocked down or held up until the World Court (The Hague) makes determinations, if necessary, later as they are paid out.
Dr Todd: There are no major lawsuits that are considered active that haven’t been laid aside to be adjudicated until a later time if in fact they are dismissed entirely. The vast majority will be dismissed simply because the aggregate funds are built to the extent that everyone will be satisfied.
Dr . Todd CC (transcribed) - 09-06-12 - Part 2
Tony: There are global settlements ongoing. Where did this go as far as global settlements are funding the RV ?
Dr Todd: Your question is how did the two get related ?
Well many of the banks that are holding the funds that were due for global settlements which were released some time ago, have not yet been paid, although preparations are being made right now to complete at least parts of that. Why did it get hung up in 2008, that’s 4 years ago, and did not get clarified ? It’s pretty simple really. When you have a multiplier of dollars of 5,10 or even more, or the equivalent or the same increase, even though whether they are going to use pounds sterling as backing it or something else, those ratios have been worked out so that relating it to dollars it will be from 5 to more than 10. The banks knew that and the banks are going to sit on it until they have their difference on that. And in most cases theirs will be more than ten. With a multiplier of ten there isn’t a bank board worldwide that won’t take that. That’s why the hold up.
Gary: You were involved with Iraq as an economist in helping and understanding of the asset based and everything else.
Dr. Todd: It’s ironic. When I went into the Air Force, just after the Korean War started in 1950, I was graduating from the University of Maryland and one of my closet professors was to become the agricultural attache’ to Iraq at that time and I was selected to be his assistant and got some of the training. When it came down from what my final job was going to be, I was to be an agent for the CIA and I said under no circumstances I would I accept it under those conditions. I have followed Iraq for a good time since then. So I know both sides of it pretty well.
Tony: When the revaluation was put in place, when they needed to go in and redo the currency, did it have anything to do with the global settlements at that time ?
Dr. Todd: No. They were completely separate. The only reason for them being together was that the banks insisted that they get their money out of it though the mark up.
Tony: Through the mark ups. So can they pay them, the global settlements, before the RV or it through the mark up of the RV are the global settlements going to be paid ?
Dr. Todd: The banks want it the increase in dollars based on the new Iraqi dinar. It was about 3.5 when their international currency was no longer recognized. It is estimated now that it will be some place plus or minus 5 for the individuals, for in what they are calling the third level of the payouts. The banks and certain groups related to banks are in Levels 1 and 2.
Tony: Now here’s the thing. We’re still in the Catch 22 and I am wanting you to say it. Does the RV happen in order for them to get paid on the global settlements or does the global settlements get paid in order for the RV to happen ?
Dr. Todd: Well at the present time the central banks have already made the arrangements with regards to the Iraqi dinar, regardless of whether it is released or not. Each of the central banks essentially control or have the call on what the dinars will be to them. They can release this as they want. I shouldn’t say totally as they want as I understand there is a committee of central bank officers who met a month or two ago in Beijing. Governor Shabibi was there with them and that was essentially concluded at that time. It seems to me the central banks could a allow commercial bank in their country to handle what was there. The way they want it to be done. Where the global settlements are coming out, the banks that are going to be paying that out are apparently satisfied with the recovery rates. In other words they have their mark up as they are paying out the global settlements . That may come before Level 3 people are announced that they can come in and cash in.
Tony: What about Level 1 and 2 ? Do they get paid before that ?
Dr. Todd: You heard over many, many years if you’ve been in the equivalent of what they call private placements, you know what block the counts are. Nothing in the international portfolios, either with the ICC that I am aware of or Basel I or II that have been approved in Basel III that’ s sort of hanging fire, nothing says that block the counts have to be in currencies that are complete at that time for international trade. It’s whatever the traders will accept and the banks working with the traders. So it’s my understanding that in most cases it has gone into private placements and is being allowed by the traders. Now what has come out I certainly don’t know.
Gary: And it is being held there Tony. They other key that we have to clarify, and Dr. Todd I think the other thing that is driving that, there was a point where these global funds and the IQD were basically moving forward. They are totally separate transactions. They were impacting each other, but they weren’t connected in any way. Then there was point where there was a discussion in the banks in their desire to be able to be able pay out and needing more reserves were at a point where they were discussing using the money put into the banks for the disbursement to the prosperity or global funds. They were going to take and pay them out in tronches and use a portion of that to pay out the dinar. My understanding was that that plan was aborted. They were merged together, but so much time has elapsed I do not think the banks are going to need those packets to pay out the dinar. They have that worked out on a separate program. I do not see them any longer being connected to each other.
Tony: They have been trading dinar at the banks for how long now ?
Dr. Todd: I would say plus or minus a year.
Tony: Since you are part of the plan, the plan was to take the RV to what level again ?
Dr. Todd: I said plus or minus 5 to something over 10. The banks are going to be getting something over 10. You can be pretty much assure yourselves of that and when it comes down to Level 3 and the individuals that are involved there, I think theirs will be closer to 5, but something over 3.5. That’s probably.
Tony: I got one more big question for him first. Cause I am putting him on the spot and he’s doing good so far. This is what everybody wants to know. You definitely gave them a rate to look for and you were part of the plan and if that doesn’t calm them down , I don’t know what will. I’m not putting you actually on the spot. You don’t have say this. Does this seem a like a feasible time for this to happen ?
Dr. Todd: I would say very much. As I see it the highest likelihood that most of this will come out yet this month. Remember, the real blowup in 2008, there were a lot of things prior to October 2008, but I think before the anniversary of that, which essentially means yet this month, it will take place. There may be something that comes out in financial documents and other things that pushes it along. I can’t tell you for certain, but it would appear to me and I have reason to believe hat some of the global settlements are going to take place within less than10 days. Some of them may have already occurred this month and when this becomes even somewhat known, I think it will force some of the other things to move with some greater speed than they have in the past here.
Tony: If the global settlements were going to take place in the next 10 days, would the RV occur before that or after that ?
Dr. Todd: I’m not certain that the RV hasn’t taken place.
Tony: Well I should say Level 3. Do you think Level 3 would take place before or after that ?
Dr. Todd: I think there is a high probability that it will be announced before the end of this month. I can’t see how it can hold past the middle of October at the latest. There are just too many other things that are going on right now in Europe with the Euro, with the banks there, with China in getting the stability that is needed. I think that a lots going to happen within 60 days, a lot of it within 30.
I just wish this administration was fully aware of the history here. If they are, they just don’t seem to be acting appropriately. We’ll find out one of these days. Thank you all.
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