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THE BIG CALL WITH BRUCE TUESDAY, SEPTEMBER 06, 2016, 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 remember 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. Link 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 Basel 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.
