Frank26 Conference Call after Investment Night Wednesday, May 29, 2013
Notes by BulldogFord65
• yesterday Frank told us that I-Teams (based in Saudi Arabia) were going to pick up a package in SA and then go on to Jordan to pick up another package and return to Baghdad
• in Frank’s opinion, this sounds like evidence that Chpt 7 is no longer an issue, and they are working on Chpt 6
• I-Team did not know what is “the package”
• Frank’s opinion that SA is the banking hub in the ME, and we know S, the “quarterback” for the CBI is in Jordan, and back to Baghdad where the Emir of Kuwait (EoK) is eager to sign the documents; Frank’s opinion that Iraq went straight to Chpt 6 and avoided the process/proceedings of Chpt 7
• In Frank’s opinion, the documents are already signed! He believes they will show tomorrow (Thursday) the signing, but the documents are already signed
• On Tuesday CC Frank gave us "Package" , Notice articles from Wed, they used the key word that Frank gave us on CC , “package” , was expressly mentioned numerous times, then today, the article came out stating the “concrete solution” to the disparity of the US$ and the IQD “package” was delivered to the CBI. Frank says, Ta Da.
• In Frank’s opinion, the EoK has already signed 2 documents, memoranda of agreement; in his opinion Iraq and Kuwait have already done the agreements to lift chpt 7, and we’re just being “entertained” with what they want to show us, signatures.
• Something happened today in Iraq, a “pep rally group” was brought in front of the CBI, Large numbers of citizens. Kinda cool!
• When M tried to take power in the CBI and steal funds, S opposed him and refused to allow it; M then tried to defame S and indict him on charges when it was actually M who was committing the crimes; at last the truth was revealed this year, and something happened today: Turki was sent in to the GOI Judiciary section (M’s dept) with a letter laying down the law that any further attempts from M to steal/manipulate power in the CBI will not be tolerated; the letter was posted on the Arabic side of the CBI only. M sent 26 or 27 to many banks in Iraq acting like thugs again.
• Meanwhile the FDIC is saying they might insure our accounts up to $250K; this was taken away and now is maybe being restored – article published in the WSJ; coincidence? Not!
• There is an opinion going around that keeps popping up, and it needs to be dispelled once and for all: the idea of “tiers” or more than one rate
• The truth is an RD (redenomination) is going on inside of Iraq right now; this is required for the next phase which is to move the rate to match the currency it is pegged to, the US$ -- the value of the IQD is being moved to 1000 IQD:1 US$ -- this is the RI (reinstatement) of the value of their currency IN COUNTRY IN IRAQ; next is the RV (still IN COUNTRY), taking away the the 3 zeros, making 1 IQD = 1 USD; again, they are in RD right now in Iraq which will lead to RI then RV at which point they are international status, and the value is 1:1 globally, then outside it will be driven up by world investments in Iraq and many other powerful factors
• Now, step outside of Iraq – the value may be 1:1 but the MARKET will drive the exchange rate higher; we saw this with Kuwait in 1990 – 1999; in Frank’s opinion, the rate will come out at 1:1 but outside of Iraq, the market will likely drive up the rate
• Iraq has oil, gold etc and we will be awed when it’s revealed; what Iraq did was slick – tip-toed right over chpt 7 without M’s interference right into ch6.... IMO.
• If there is any more question on this issue or any other issue, post the question to WalkingStick on the forum, He has given me permission to incorporate him further with my Teams. WS will any qt you post to him, Family take advantage of this !!!
At this point, Eagle1 and Nova came on the call
• Frank asked what happened this morning with the Federal Reserve?
• Eagle1 replied that the Fed Res raised their interest rate and said they are going to stop printing money
• Frank asked Nova, who is buying a bank right now why we are seeing this move from the Fed Res?
• Nova replied that we are seeing a global currency reset and it will affect every central bank globally; what the Fed Res has done in the past they cannot do anymore as there will be a global monetary policy; they aren’t coming out and saying it in so many words, but they are making it less attractive to continue old policies
• Eagle1’s opinion is that this shows that Basel III is kicking in
• Bank fees are close to doubling, and fixed rate instruments are not making money; banks cannot make money on current interest rate loans, so they only do business with each other not with populus nor investors at .5 to 1 %.
• Nova’s opinion that 2 things are happening: banks are using regulators as an excuse not to make loans but the reality is that banks aren’t making $ on loans right now; Nova believes that after this currency reset takes place, money will flow again because banks will be able to make money again on loans; in his opinion this will make our economy grow; the IQD is just the beginning of this process
• Eagle1’s opinion is that the Fed Res has to stop printing fiat money; as Basel III takes effect, it will have both good and bad consequences; in the short term, some will be hurt, but in the long term it’s good for everyone
• Frank reported that Jack Lew was in Hong Kong (he’s back now), and reports coming out of HK are of the opinion that the discussions were on the large amounts of currency that are moving to Iraq and also on gold; may also have something to do with China, but no firm confirmation of discussions
• Frank’s observation that when the banks around the world do not trust their governments, they create their own banking system and do business among themselves; right now doing business with the USA is not favorable
• Nova pointed to the example that over the recent past in the USA, the sector that has grown is private equity investment – not going thru banks, keeping the money privatized
• Nova observed that we see so many things going on right now, it begins to get blurred – think of having a 250 note: inside Iraq, you exchange a 250 note for 5 X 50; it’s all 1:1, this has nothing to do with the market exchange rate outside of the country
• Eagle1 agreed and said this is why going to 1:1 to the US$ in Iraq is so important – the citizens will not change to IQD if they can buy more with the same amount of US$, the incentive to use US$ must be taken away – moving to 1:1 accomplishes this; again, it has no bearing on the market exchange rate outside of Iraq, the citizen’s don’t care if the market rate is 1:3.86 outside, it only means that the cost of their imported goods will become drastically reduced
• Nova agreed and said this will be like pouring lighter fluid on their economy!
• Eagle1 reminded that laws have already been passed restricting how much foreign currency can go in and out of country
• Nova’s opinion that with the exception of the big banks, the banking industry does not have a clue what’s going on, and when this this global reset takes place, the will be reactionary rather than proactive, and it’s a concern
• Eagle1 said the announcement from the Fed is HUGE (not printing more money and increasing the interest rates) and it signals the process has started here – so it looks like we’re back to seeing the hit on the US$ value happening June 1 according to the original plan, does not look like it will be delayed
Bluestar came on the call at this time
• Agrees that June 1 for the US$ devaluation is what he is hearing from his sources
• Bluestar read an article that appears that AsiaCell is calculating the IQD RV into their dividend projections
• The violence in Iraq is still high, and there is escalation in Syria, it’s really ramped up, add in that O and Holder are trying to get away from scandals and the US media is not playing along all of a sudden, Bluestar asked if the RV will be used to cloud the scandals
• Nova suggested we think of it in the opposite view, are the scandals being revealed now to cover up the RV? Why when the IRS has been targeting people for 4 years and Benghazzi is 4 months old, why are these things just now peaking in the media?
• Final comment from Nova is to remember that other ME countries have/are experiencing serious violence, yet their currencies have remained stable
The call ended with Frank playing a voice message from Delta
• Delta could not join as he’s on assignment, everything is still on track, still on very high alert, and in his opinion as he posted, he would be very surprised if the RV goes past the first week of June
• Delta confirmed the message on Iraqiya TV to implement the increase in the exchange rate of the IQD
• Delta said the people don’t have confidence in the GOI and so will keep using the US$ until they see something happen