Entry Submitted by PinkRoses at 10:22 PM EDT on September 6, 2016
THE BIG CALL WITH BRUCE TUESDAY, SEPTEMBER 06, 2016, INTEL NOTES ONLY
TRANSCRIBED BY PINKROSES
Bruce: I want to welcome all the listeners tonight where ever you are. We will not do a very long call. We don’t have too much Intel. We have a little bit.
Bruce: The G20 meeting pretty much wrapped up yesterday in China. They had quite abit of agenda. They had new representatives there. Not quite the old guard if you well from the past. That is encouraging in itself. It speaks of the change we look to be part of moving forward. Many of you probably saw clips of the speech our President made yesterday. A 40 minute speech. Some things in the speech caught my ear. I thought what was discussed had quite a bit do with us. The type of language we been using and looking forward to hear on international basis. We heard reference of our banks Bassel 3 compliance, 750 billion dollars of equity in our banks in the US to prevent situation in back in 2008. He had the numbers 750 billion, but I have feeling that number quite a bit higher. We have a new currency that is about to be available, gold back currency. All the currency around the world will be asset back which makes it possible to Bassel 3 compliance.
Bruce: The point is that something was said in the speech the President mentioned bank equity and new banking system. Sometimes we heard out of Iraq a new financial system. He used the term a new banking system. The CIPS system is a brand new system hooked up to a super computer in China and also it us hooked up to two new satellites that China put up. We have the CIPS system and the IEX system, internationally exchange system. Connects all the trading platforms around the world, various exchanges hooked up to the IEX now. It took 37 minutes to hook that up the other day. The CBI did connect to the IEX and they did post their new rates to that system which we understand the banks have a few days ago. The banks were showing those rates. I don’t know the new rates are, but substantially higher than they were previously. Everything is set for the blessing to come through and the exchanges to come in. They have been exchanging yesterday and today. Some groups may have gone through. I don’t know who exactly exchanged today.When is our turn? Our turn is just about here. They know we are looking for the 800 number to set our appointments. I want to welcome RBC, TD Bank, Scotia bank; all will be involved in the exchange. Wells Fargo, HSBC, IIB and China People Bank. Citibank, Chase, and B of A also. Only intake for the ZIM will be with Abbott Downing in the redemption centers affiliated with Wells Fargo. Abbott Downing has picked up a number of other offices throughout the country so they will have a presence in all 50 states. Merrill Lynch was picked up by Wells Fargo over a year ago. So a lot of their people moved into positions with Abbott Downing.
Bruce: (took a call) We had things in this speech that the President made yesterday morning. The reference to the Basel 3, the new banking system, etc. All these things we heard in that speech and the things we heard in Putin speech which was similar, and the Chinese President Xi speech. That speech more than what the President talked about. The combination of those 3 speeches acted sort of like an announcement for us.
Bruce: Iraq did connect to CBI, and CBI to the IEX. IEX connected to all the exchanges to the world. There was a sort of a bump in the world, a small trading bump put in the IEX so that the high frequency trading that been a problem in the past does not occur again. It slows down the trading a part of a second so trading does go through. A positive thing accomplished with that. There some been some redundancy, in fact no particular trading house or institution has advance over anyone else. It shows us we are going to have a cleaner trading system moving forward. Transparency we heard about, and may some of it taking place. The CIPS systems operate very quickly around the world. When we wire funds it will be like ledger to ledger in our bank. That quick. No longer sit 10 to 12 days while people trade on the money in the transition.
Bruce: As far as where are we now? We are in as good as place we possibly can be in terms of being ready for our appointments. Release of the toll free numbers, 800 numbers, so we can set our appointments to go in and do our exchange. Most part using off site redemption centers which some are connected to some banking branches in some areas. Even yesterday there were 640 Well Fargo banks open around the country. I can’t tell you why. The redemption centers were staffed fully and ready to go and some exchanges went on. We are waiting, us the internet group, and Well Fargo group, and other groups. We are next. We had some VIP groups go in, some friends and family go in, some set appointments go in. Now we are just at the point we are ready for us. There is a certain amount of time designated for us, those of us paying attention to calls, blogs, and posts to go in and get our exchange. They want to pull the ZIM in the first 72 hours. Tell them you have ZIM when you set your appointment. It gets you moved to the head of the class so to speak for your appointment. We will have our opportunity to exchange at privately negotiated rates. We can do that based on your ability to convey your humanitarian project plans on one to three page outline you will pitch to your banking partners. You will have that opportunity to speak about that. Then able to negotiate your rates not just on the ZIM but also your other currencies.
Hold up? Yes a snag, one sort of technical regarding the IEX. That has been handles. Other one, security issue, which has been handled as well. Our release time is good without calling it, don’t do rates or dates. We are in good shape any day now. Any different than what we have said in the past? Not too different. We had same feeling in the past. But very little out now as far as Intel that would slow this down. We are sort of getting down to that we have the last 2 to 3 pieces of puzzles and we see the pieces. Was the G20 important? Yes. 30 different treaties, a lot of agreements between a lot of different countries. I know they are working out additional things getting a peaceful resolution on hot spots around the world. They are trying to get that down. The information we are getting that we are right there, and should have it this week. I really don’t think we will go beyond this week. I just don’t see it based on the information I have gotten the last few days. If I think of anything else or get anything else I will bring it up. We are in high expectation. We appreciate all the listeners we have, the banking institutions that listen, all the agencies that listen to the call, and the 3 letter agencies that monitor us. We will see what happens between now and our Thursday night call.