Conference Call Notes By BulldogFord65 » July 10th, 2013
Hello Family: here are the notes from tonight's CC. Have a peaceful night, and a blessed day tomorrow! BulldogFord65
(Jesus said) "This is my commandment, That ye love one another, as I have loved you. Greater love hath no man than this, that a man lay down his life for his friends. Ye are my friends, if ye do whatsoever I command you." John 15:12-14 KJV
Frank26 IQD Update after Investment Night Wednesday, July 10, 2013
• There is a new “drum beat” from the GOI – it’s excellent; they are working side-by-side with the CBI, it’s miraculous
• Walkingstick post 197 on the 7/9 thread: economic parliamentary committee demanded the project of deleting the 3 zeros; the GOI is now telling the CBI to go ahead with lifting the 3 zeros!
Read More Link On Right
• They are progressing at the speed of light since the lifting of CH7
• We should study the forex and learn about it
• The Iraqi citizens have created their own monetary system (free market using marked-up Saddam dinars and bartering, etc)
• Frank will not respond if Delta has a Qi card, it’s Delta’s personal business whether he does or does not
• Articles stating that counterfeiting is no longer a problem in Iraq; why? Learn about the Qi card
• There are now weekly flights between Iraq and China – we see more and more the opening and of Iraq and access by air, electronically, etc; India is now in talks with Iraq
• The governor of Iraq is in discussion with S Korea about opportunities; Frank sells the South Korean Won – there will be contracts between Iraq and S Korea
• Belgium is also in discussion with Iraq
• Jack Lew spoke about improving the economy of Iraq
• Article: There will be a quick step eruption to approve the HCL during the next parliamentary session; the last (4th) part of the HCL will determine how much the citizens will get of the oil revenue
• Article stating many companies entered into negotiation to amend the previously signed contracts as M is now out of the picture and no longer taking is cut
• Mary Cooper Post 155 on the 7/9 thread: Baghdad said a lot in that post – it is worth going back to read; it is an opinion article, but has a lot of great information
• Pray for Delta, he is struggling with allergies and it’s difficult for him to breathe; won’t be on the call tonight
• Walkingstick post 297 on the 7/9 thread: opinion post with excellent information; go back and read it – will also be brought forward onto the 7/10 thread
• Deputy Governor of the CBI states they are looking to a bright economic future for Iraq
• DO NOT BRING RUMORS FROM OTHER WEBSITES ONTO KTFA, AND PLEASE DO NOT CALL FRANK ABOUT RUMORS FROM OTHER WEBSITES
• Article stating that Barzani is about to make an important announcement
• Today Frank received a call that Bernake was giving a speech, and it was being carried on Fox Business channel; he will talk more about this later
• Frank gave a history lesson:
• 1927: oil was discovered near Kirkuk
• 1932 – 1949: 1IQD = US$4.72
• From 1949 – 1971: 1IQD = US$2.80
• 1972-1982: 1IQD = US$3.37
• 1982-1988 (gulf war): 1IQD = US$3.22
• 1988 – 2003 (Kuwait invasion by Iraq, gulf war, second gulf war): 1IQD = US$0.33 – US$1.33 due to sanctions
• 1990 – 2003: UN sanctions
• 1991: US invasion of Kuwait
• 1995: UN oil for food program
• 2002: coalition force formed
• 2003: USA/coalition invasion, new dinar created: 1IQD = US$0.00027
• 2013: we await the rate
Eagle1 came on the call at this point
• Eagle1 reviewed Bernake’s speech given today; he made a comment stating we’re in for a short term period of “great liquidity” in our markets – this says a lot! He spoke of the need for liquidity in the market because unemployment is too high to maintain growth; said QE could end by end of 2013
• In Eagle1’s opinion, the “great liquidity” is in reference to the IQD, although there was no direct remarks on currencies or Basel III (Eagle1 missed the first 30-45 minutes of the speech, but it was not included in the portion of the speech he heard)
• Jack Lew also spoke this afternoon, but none of the news media covered his speech, so it’s not known what was said at this time; Eagle1 and teams will try to find his speech
• Frank asked Eagle1 about an intel report that CNN in UK reported on a rate for the IQD – did Eagle1 hear anything about this? No, he did not; will check for it
• Frank gave I Team report that there is a lot of movement, they are moving a lot of people around, and all the meetings are in regard to monetary reform; definitely something is happening
Frank opened the line to questions at this point
Q: will WF allow us to deposit funds in IQD and keep it in IQD?
E1: Yes, but not until after the RV; WF will deny it beforehand; a deposit of $250K equivalent is needed to do this
Q: Where do you see the baskets timeline now?
E1: Lots of reports, but hearing all day today the opinion that the release of all 198 currencies will post on forex tomorrow; if UN operational rates are coming out tomorrow as scheduled, opinion that it will come up on forex at the same time; however, just because rates are up on the forex does not mean we will be free to exchange immediately, usually a 24 hour delay to begin trading; opinion that we might be able to exchange on Friday or Monday if the rates post tomorrow; TREAT AS RUMOR/OPINION, THERE IS NO DATE OR RATE
Q: What if we convert to CAD, are there tax implications (benefits to US citizens)?
E1: In USA, yes there will be tax implications; go to Canada and open account their and exchange there and there may be some benefit (still have to pay tax if US citizen), but E1 does not have information on this, and cannot really respond to this question
Q: caller from Puerto Rico, could not hear the question
E1: If you are US citizen, you are liable for taxes, and there is also local tax in PR; there is potentially some benefit to exchange in the continental USA
Q: When do we expect to see the rates go up on the CBI/Forex if it happens tomorrow – overnight or in the USA business day?
E1: If it is posted tomorrow, in his opinion, will see it on the NY forex at 12:01 AM EDT; THIS IS NOT A DATE, just asking when does the forex “wake up”?
Q: What is the forex site that we should watch?
Frank: NO-BS-FOREX.COM is a great forex website to monitor
Q: When exchanging the IQD for USD, will the banks exchange in the UST notes or FedRes notes?
E1: With the dinar ONLY, as long as deposit into a non-interest bearing checking account with no other funds at all (must zero out the account first), we will have the protection of the UST note (will not devalue in Oct when change to the UST note); the UST is using the IQD as part of asset base to back up the USD, and the IQD is 100% gold backed; as long as no other funds, currencies or deposits of FedRes notes from any other source, the IQD will be protected
Q: If putting the IQD into an account and exchanging a year or more later, does the CBI have authority to invalidate the deposit?
E1: NO, it would violate every international banking law; cannot happen
Q : If USA is the key to everything, and Iraq is doing all these things, is it true that unless USA says okay, nothing happens?
Fank: Yes, USA is in control, they control unfreezing funds
Q: In April, Frank and E1 had the opinion that the IQD would come out at a certain rate and then in about another year, increase in value; is that still their opinion?
E1: Has not changed position, there are commitments to the world; in his opinion, exchange only a small amount to become debt free or invest in land, metals, etc., and hang on to as much as possible, the value will continue to increase
Q: Is there any VND tax information?
E1: Refer to IRS 536 booklet of rules on foreign currency taxation; depending on how it’s exchanged and used determines the tax rate, for example if use a trust, defers taxation; there will probably be a flat 15% on the VND, but the tax rates are not decided yet
Q: If capital gains tax is 20% and O-care tax is 3.8%, total of 23.8% -- where does the 15% come from?
E1: There are 3 separate rules in IRS code, and all disagree! 2006 rule which was last update refers to 15%, but this did not anticipate the major shift in GCR; tax experts’ opinions consistently hanging between 15 – 20 %; intel from varying sources says IQD will be treated differently than other currencies, perhaps an extra 15% tax on the IQD – this has never happened before, but hearing that it’s a possibility
• Eagle1 has been closely tracking the Forex for the past month and is seeing things he has not seen before; very exciting as the IQD, Rupiah, Dong all at $1 and then all back to original rate
Bluestar came on the call at this point
• Bluestar has heard that there is a place on the FDIC or Treasury site to look up banks like Chase, Citi, WF to see their level of sovereignty/accreditation
Memphis came on the call at this point
• Memphis knows what Bluestar is referring to and he has the reference; he will post it
Frank said Delta will be on the call next week – pray for his health and safety, and for his family’s safety
Frank ended the call with prayer, and Andy lifted the prayer with the shofar blast