Monday, December 23, 2024

Tony’s Monologue: We are here where we didn’t want to be because we should have been in the banks on Saturday morning. On Saturday Tony got a call saying between Sunday evening and Monday. Then he was told Monday, we are still here, and it is still Monday. Some people have been paid, some were paid yesterday, some are being paid today, and some are scheduled to be paid tomorrow. Tony knows where these people are being paid. There were two different people being paid at two different locations of the same bank. On Friday Tony told us that a guy with 200 million dinar was paid 28.50 on the first 50 M of his dinar and then 7 on the rest. This guy also had 100 m in VND and got 12 on the first 50 M and 3.46 for the rest. A guy yesterday with 200 million dinar was offered 28.50 for the first 20 M and 3.91 for the rest or 12 dollars for all 200 million. HE also got 2 dollars for his 800 VND. Interest was 22% for 5 years. Both guys had about the same amount of currency. There will be variations on this as we go forward, and we are dealing with different banking people at the time of exchange. Remember that they won’t offer the 28.50 and you will have to ask for it. We should hear back from people as this gets going and you should know what someone with about the same amount of currency is getting so that you should know what you should get. There were people that were fully funded, they exchanged last week, and had their money in their bank account this morning. You guys are seeing the variations, what is available, and what to look out for. Tony is trying to get information about today’s rate. The three-letter agency said that it should go international this evening. He also said they would work tomorrow, not on Christmas day, and resume after that. The government didn’t shut down and things are still moving forward. We are hoping to get the release this evening, probably after 5 or 6 pm today that we might hear. This is what Tony got from the three letter agencies and is waiting to hear from his bank people to see what they have to say. So far 22 % and 25 % interest over 5 years has been reported. There is a lot more interest out there, Tony’s interest rate is higher than that, and others have exchanged with higher interest rates. Tony is waiting to hear back today on rates, time, on if they can do what they want to do, and confirmation on exchanges that took place yesterday and today.

Q & A:

- Do you have a picture of the ten dinar note? Tony does not have a picture of any of the lower denoms.

- Tony feels that if they won’t give you the 28.50 rate on 50 million dinar and only on 25 million of it, then he will break up the remaining dinar amount between family members to get the 28.50 for all of it. Tony to the banker, either we do it all now at one time or it will be broken up and cause you more work.

- For those that have exchanged, has there been any information on the NDA? That they wouldn’t buy currency for the next 90 days. Tony has not received a copy of anyone’s NDA.

- Iraq has been telling the citizens that they would stop the auctions today, but it did not happen. They are still going to stop it by the end of the year. It would make sense for them to do that before the end of the year.

- Did the feds send the memo out that we are waiting on? Tony doesn’t know and they apparently got something last week that told them it was going to happen over the weekend. The only thing that we know is that the upper levels of the banks sent a memo down to the branches.

- Where were the banks you were talking about? They were in Texas. What are your contacts in Iraq saying? They are just waiting for the 31st and they keep hearing it will happen in the coming days.

Wrap Up: We are still moving forward. They are still paying people out both yesterday and today. There are people scheduled to exchange tomorrow. The feds have said that we should see this internationally tomorrow. Tony doesn’t mind all these people getting paid because it shows us all the variables. We are good and ready to go. All the banks and agencies are saying it is over and done. Hopefully, this is all over tonight. Merry Christmas!