Bruce’s Big Call Intel Tuesday 6-1-21

Call Transcribed by WiserNow Emailed to Recaps

Welcome everybody to the Big Call tonight – it’s Tuesday June 1st

and you’re listening to the Big Call – thanks for tuning in live or if you are catching this call on the recording or replay - I think we are off and running – We are in a really really good place – it’s the first of June and I’ve got several things to share with you tonight - so let’s get started on the intel

First of all I want to let you know that we got some information since Saturday - and beyond – that really helps to clarify the exchange experience - so I am going to lay it out as I remember learning about it –

First thing is – they want us – tier 4B – in and out of our appointment in 30 minutes – that’s right – 30 minutes – they believe they can do that – they believe we can get in and get everything done in that first appointment and get out of there in 30 minutes –

The next thing is – they want us to come in – they will scan your suitcase /  briefcase / bag or anything else you have currency in and all of that -  then escorted to the person you contacted or spoke to on the phone when you set your appointment – you will pass through security to that person – it could be a US Treasury Marshal for example – that meets with you initially – guide you and send you to the office of where you are going to be exchanging your currency or redeeming zim –

They’ve got one or two Delarue machines available for the currency to be authenticated and counted/verified – remember your 30 minutes includes your 5-8 minutes presentation –about your projects – They are also going to set you up one master or mother lode account – ONE – I don’t even know if I’ll be able to set up my second account with Wells Fargo – the mother lode acct.  is with Wells – this is for zim holders – especially –

The secondary account that I want to have with Wells is for my spillover account – my operating account – that the interest will spill over in to every 3 months – every 90 days –

You have a half hour to do your whole show – you’ve got 5-8 minute presentation time – you’re going to be setting up a new account – ok – in fact you could probably ask them for a proof of funds letter – but it may not get delivered to you at that appointment - it could - you could ask for it – probably you will get after appt.

You will have access to funds on day one – they will ask you or could ask you –how much of your exchange money do you need over the next 6 months – In other words through the balance of the year 2021

You give them a number that you think you will need – this is especially for those with projects – how much will you need for your projects for the next 6 months? That should be available to you in your account that y ou are going to use for those projects until the interest and everything kicks in –

Now my understanding is the interest I can have paid out quarterly – every 3 months – and so that takes money in the mother lode account it calculates interest you earn in 90 days and spills over that total on day 91 into your secondary / spillover account - I do not believe you will have time to do transfers in that first meeting – they literally want you in and out – its not a session for you to tell your life story – it’s not a time you’re going to be saying “ well I might want to send some money to this person – or that charity” – no no no none of that in the first meeting –

You’re going to do that in a follow up meetings if you need to meet with them again – at least 24 – 48 hours later - you’ll go back – maybe this time you will meet a wealth management team – maybe this time you will start getting in to your family office scenario –

These are things you will learn about and possibly talk briefly about – very briefly – in your original half hour exchange meeting –

You’ll also set up that one account like I said – I’m understanding – and this is different than I told you before -  so this thing has evolved – this thing is changing - what we heard was there may not be – I’m going to say “may” because it might be in some cases – there might not be a need for the so called titanium account access card – that I have talked about - it’s not a credit card – it just gives you access to your account –

You may not need a biometric finger print reader to access your account – neither one of those may be needed -  I do not know why that was told to me for months and months if it’s really not needed –

However – what you do need is what you’ll be given and that is like a personal identification number – like a PIN – this number that you get – this little code is going to identify YOU – that individual – YOU -  and that is what you’ll need to enter when you are accessing your mother lode account –

I cannot speak to other accounts you may set up separately – but the new system is designed for you to be able to enter that number - (when do you get that number?) You should receive that number when you set your appointment either on the phone or  email – one or the other -  you should receive that number and keep that number and use it to access your account  - that’s my understanding – of what would be needed –

Now – the people at the bank – the wealth management team – whatever – NO ONE – other than the person exchanging you or redeeming your zim -  no one else is to see or know your personal account – in other words how much you have in your account – it is up to you if you let anyone from the bank on subsequent visit see your account balance or work with your account in any way –

This is not like the retail bank that you go into now to get $500 in cash or to make a check deposit or get a cashier’s check -  this is not retail banking for almost all of you – you will not be going into your normal retail branch banking – this is using the new system from a digital device – and believe me I’m shaking my head hearing this – we’re supposed to be able to use our cell phone – tablet – laptop – or pc to access our account –

I never thought we would do that – with a mother lode account – I just didn’t believe it would be secure enough – so ask if – don’t leave it up to me to tell you  - ask if it is secure enough of a system to utilize those digital devices – to access account –

You will be able to transfer funds from one account to another on  your own – you will be able to do all of that – may not need the help of anyone in wealth management – but ask those questions first – even if they can’t ell  us everything we want to know at the first meeting – be ready and write some questions down – if you can’t get them answered at the first appointment maybe you can get the answered at the second one

Now – if you are a zim holder and you set appointment at a redemption center – it will be a Wells Fargo redemption center – so you will set up your account with them initially – they would love for you to keep all of your money in the initial bank that you used for your exchanges - especially if you had zim –

They are planning to ask  you if you are going to move some funds to another bank – if you are let them know – and approximately when – they do not have to know how much  - you just let them know you plan to diversify a little bit – or plan to work with a few other banks for diversification –

I am trying to think if there is anything else that I found out about that’s different or new or unusual – I think that is basically the experience that I have received – on that –

Now – today – the first day of June – was a day of test exchanges done as part of tier 4B – that’s right the internet group – effectively started today with tests exchanges -  in not quite 300 redemption centers across the country - just below 300 –

This was so they could work within the new system to see how intuitive the new system was - via these exchanges – and my understanding is the system performed very well – intuitively – in other words this new system is sort of a living / breathing thing – supposedly extremely secure – and tracks every transaction – I don’t care who it is – where it is – anything done for any bank throughout the world it is tracked and known about -

So no more monkey business – through this new system – none at all - it’s a beautiful thing  - and so we had those exchanges tested and went very well – and the thinking is we – who are ready to start – are looking really good and the wording I was given from a bank manager today was “Be ready for any moment now” Be ready –

Now we’ve been told to be ready - get ready for years – but I believe this is – not even going to say my most hated expression - this is the week - not going to say it – BUT – I think we are in good shape for something to occur with notifications over the next couple of days -  I’m talking Wednesday – and or Thursday – is looking very good – right now –

Now here is the other piece that comes into play on this – if I can remember it – oh yes – the trigger that will allow us to go – let’s say tomorrow – is the bonds that are being notified to bond holders or bond sellers - by email – those have started to go out internationally – today – here – in the US – they were supposed to start going out as early as 8 pm Eastern –

Now – if those go out – which I believe they will – if they go out tonight there’s a good chance we could get notified by tomorrow – now do we start exchanges tomorrow? Or do we start on Thursday? Yes or Yes?

We cannot say – they don’t want us to know what our start date is but it looks very good for either day right now Wed or Thurs –

Notifications by email plus a lot of people they do not have emails for – because they were gifted – and those people are going to need the toll free number – now I don’t care if you get an email but you will – most of you will get emails from the Wells Fargo Servers – remember there are 2 million plus or minus emails that have already been loaded into the system - called the Discovery System – for Wells Fargo Servers – that will be released – in approximately 1 hour per block and there are 5 blocks of emails –

You have an East coast time block - Central time block -  Mountain time block – and Pacific time block and a Hawaii / Alaska combination time block – that will go out approximately every hour – an hour apart – in each time zone –

Let’s say they were to go out at noon – ONLY AN EXAMPLE – on the East coast -  then the second time zone would get theirs at noon and Mountain time would get theirs at noon and Pacific would get theirs at noon and Hawaii and Alaska would get theirs at noon in their own time zones –

So that is the theory – I believe that’s what’s going to happen – takes 40 minutes to get out all of those emails in one block and approximately 15 minutes between blocks – so 40 and 15 is 55 – I’ve rounded it up to 1 hour –

So that gives me a very good feeling about where we are – what’s already happened as a form of testing – intuitive nature of the new system and the fact that we are this close  for the banker told me to be ready at any moment now –

Do I expect it tonight? No - Could it be tomorrow? (Wednesday) Yes it could be – Could it be Thursday? Yes – So we are that close – I don’t want to say any more about it  - they don’t want us to know when it’s going to go -  they have been trying to keep this thing close to the vest and they do not want it known – so be happy that  you have what you have – ha ha (laughter)  Be Happy !

I’m excited about this – I think we’re going to just check emails – phone numbers should be in the emails – I don’t know if the access  number is going to be in the email -  the code may be in the email  - it might be there -  or you may get it when you call in – even if you get the email – as I  understand it – you will call and set your appointment – and if you’re a zim holder you should get either connected and routed to the redemption center that you have indicated by your zip code and if not you will be given another number and you will call that number which should get in at the redemption center and send you to an individual that will help you  with your exchange and or redemption –

The rates are very good – the zim is what we said it was a long time ago – I believe we will be pleasantly surprised by the rate on the other currencies – very happy

Bruce’s Big Call  Replay LINK  Intel Begins:   1:12:22

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