Bruce’s Big Call Intel Thursday Night 5-21-20
Bruce’s Big Call Intel Thursday Night 5-21-20
Call Transcribed by WiserNow Emailed to Recaps
Welcome everybody to The Big Call tonight – it’s Thursday May 21st and you’re listening to The Big Call – Thanks for tuning in everybody - all over the globe
Ok here’s where we’re going in terms of our intel for tonight – you know Tuesday night I was getting things even after the call – which I always do - I was getting information that was making it look absolutely like this thing was going to go yesterday – or maybe today –
Well – what I ended up getting yesterday – last night – changed all of that - it changed the perspective – usually I have a perception of this could go on any given day based on the information – some days it looks like it’s a couple days away or it’s this or that – and then recently like Tuesday – it looked like we were going to get started on Tuesday/Wednesday or Thursday – and I know I am not the only one who thought that – and then we’ve had people to say – no it looks like we’ve got it extended a few more days – Friday / Saturday –
Well I don’t have that and I will tell you why – When you get information that extends the timing – it’s not that much fun – but I have to tell you the truth – I have to tell you what it is that I’m getting and let you guys decide how you feel about it
So – one piece of information that I got last night said that the public – instead of starting on the second of June - was looking to start on the 15th – that’s the “public” NOT us – I call the public Tier 5 – there are not that many people in the public that are not paying attention to the Big Call or the notes that are brought out from the call – at least that is what I’ve been told – The public is not that large of a group anymore –
So – if the public is set now to start on June 15th – of course what am I thinking - what does that do for Tier 4B? What does that say for the internet group? When would we start? And the answer is ……. The earliest that we’re hearing – based on a call I will go in detail on - that I got last night – looks like the earliest date would be Tuesday AFTER Memorial Day – May 26th –
We got some information that was on a call last night with some very top notch people that are in control of this – people like Steven Mnuchin – The World Bank President – IMF representative – Finance Ministers of 8 different countries – Judy Shelton – It was quite a great group
Now what came out of that call – my understanding is – the question was post to Judy Shelton – “I thought you wanted this to go before……???? The end of the month? And she said…. We Do –
So I think we do expect this to go before the end of the month – as early as Tuesday for us – our country – other countries – they start up on Monday – we have Memorial Day – because it is only separated here - that gives us the 3-day weekend and we’re set to go – we HOPE as early as Tuesday – the day AFTER Memorial Day –
Now what is it that brought this about when we felt pretty confident about this going in the middle of this week like yesterday? Or today? Or even maybe by the end of this week for us? Well some things have happened with about 8 leaders of the Democratic Party in trying to delay this for us – by finding 6 states with Democratic Governors and Democratic strong holds in some counties that insisted that the redemption centers be redesigned and in some cases reconstructed so that the theoretical threat from COVID would not interfere with exchanges –
The six states we are referring to – the number 1 that offers the most resistance – is Michigan – the next and not in any particular order – Oregon – California – Connecticut – and New York (Bruce only listed 5 )
Those states are in a process now of redesigning / reconstructing the private offices that we’re going to use for our redemption – This is occurring in Michigan in 30 different redemption centers –
What we are seeing is a delay that for the moment this week is working because this needs to be complete and the other side of it is beyond that is that the other groups – since we are no longer under a true shotgun start – the other groups will go before us – That means the intermediate groups are supposed to be completed and believe it or not there’s quite a bit of activity out West – but I think the majority of that activity is probably the paying out or making the liquidity of SKR’s from Tier 3 –
I know that starting at 11:00 am Eastern this morning the groups were supposed to get underway – and when I say that – I am referring to the Core 30 and the other 120 paymasters for the Admirals groups are supposed to be starting to go today – tomorrow – Saturday – maybe all through the weekend - it could take those groups all the way through – all the way to Monday –
We know that if everything goes according to plan –Sunday that would usually mean rates on the screens before trading globally – at 8:30 pm Eastern when China/ Hong Kong start trading currencies our USN by the way – when that happens – then we should be on for Monday afternoon everywhere but here in the US – and so therefore 24 hrs later – Tuesday afternoon – would be our start time – That is the information we have today and last night on what the planning and execution of the plans are for us –
So everything is connected – 3 countries came in and connected to the QFS – all the Tier 4 and Tier 3 banks are connected now to the QFS and to having the USN on their screens - these little things that had to be done and we got waylaid – we got delayed this week –
I am not somebody who has really been political on this call and I don’t mean to be – but that is what the evidence is and you guys know if you’ve listened to news conferences and you’ve heard things where the resistance is coming from – so this is nothing new for you – if you are paying attention to the news – or some of the news – not all of the news – I know –
I believe everything is moving along but at a slower pace than we thought and now that we’ve had this hiccup that pushes us to Tuesday at the earliest – that is more than we would normally expect –
I know this much – this group of Big Call listeners are resilient - we are a people of faith – I know that we are able to take things in stride as we move forward – and I know this gives us adequate time to get prepared
I want everyone to have a great Memorial weekend – Grill & Chill – and enjoy the time with family and friends – practicing safe distancing –
I am encouraged but at the same time this was tough news to bring to everybody on the call tonight because it comes from the very top and I just have a feeling that these delays are not going to last – but this one worked – Be of good cheer -
Bruce’s Big Call Intel Replay LINK Intel begins 1:12:25