TNT Call notes 7-March-2016
[TNT Rap]. [audio checks]
RayRen: Good afternoon, TNT super-fantastic family! Welcome to Monday, March 7, 2016, and this is RayRen98. We are here, on this side of the RV, ready to move forward. There isnít a lot of new info to share; there are things being said, but need to be confirmed before I share them.
On Friday, we heard the IMF had sent out orders to have it done, and I asked what would be the consequences if it didnít get done. I heard there would be fines against the banks if it didnít get done on Friday, so we will see how that unfolds because it wasnít done by Friday or by this morning. There was a lot of expectation it would be done by down according to the different postings. I do believe from the information I received that they expected to see rates on the cards and at the exchange centers at a new rate Ė that was the objective, but so far that has not materialized, or at least not at the highest, RV rate. Most of us do believe that an I-rate exists over there between 90 cents and $1.08. Prices in some markets have been adjusted to reflect the new values. That is progress, and that will eventually result in progress over here.
Banks here were looking for us last Friday; there was an anticipation of that, and then others expected to see it today. They are engaging in private exchanges today and last week, and the rates varied from sucker rates to ďoh, yeah!Ē rates, depending on who was exchanging on each side. Thatís pretty much it as for as intel is concerned. Some private exchanges are going through, the cards are being loaded, and some prices are being adjusted downwards in response to the new rates. That is it, in terms of intel I feel it worthy of being told to you. Letís go to the questions on the board. This is more of a training callÖ
Q: In your heart of hearts, what is the next back wall? A: I have no idea. I guess we could use the 10th, because some of the Iraqis are being told to look towards the 10th and the new cabinet being established, and the leader of the CBI. That could be something to keep the people happy.
Q: Is anyone exchanging yet? A: Yes Ė last week and also today. This is a moving forward process. If nothing else, those exchanges should validate where we are. Itís just a timing thing.
Q: Last call, you said you would post Tonyís addressÖ A: Look in the Latest Blasts and Tweets section so you can get the correct address. Itís under ďWriting a personal letter ot TonyĒ.
Q: In Fort Lauderdale, everyone Iíve spoken to says this is not happening any time soon. Do you know anyone in this area exchanging? A: Not to my knowledge.
Q: You said that dinar dealers are not being allowed to replenish their dinars for sale. However, some sellers are still offering dinar Ė donít know how legitimate they are.
A: I did not say that. I did say that Iraqi dealers in Iraq are being discouraged from letting currency out, and the brokers cannot get new inventory from the source. I donít how long that will take to complete. This happening a week ago or so, so I donít know how effective that program is. It may be complete at this point; I have no idea and havenít check on that one. Our US dealers are still selling, and there may come a time when they canít, but weíre not there yet.
Q: Weíve been told for two years that private exchanges have been done; how can the banks do that if they cannot turn the currency in to the UST? A: I know there have been exchanges, and have never asked how. I know some things can get done, but not in public, and perhaps this is one of those.
Q: If I have signed gift letters now, can I send them out after the RV? A: I donít know; perhaps you should ask the IRS.
Q: Would you suggest the establishment of a non-profit charitable foundation inside our main trust? A. NO. Q:Ö or a trust inside the trust? A: Make your foundation totally separate from your trust.
Q: Has the exchange process begun in the US? A: Yes, because there are private exchanges.
Q: There are no WFs in my state, and you said banks would offer the best exchanges. If I go to Nebraska or Arkansas, will I have to pay their state tax as well as my own? A: The best way to find out is to call and ask them. They can answer that very easily. Donít talk about currency, just ask for the general position. It would clear up that question for a lot of people. Call up the Department of Revenue, and ask if you would be taxed on a currency exchange, and at what rate.
Q: If you are doing Q+A, can it be new callers only? The regular callers keep asking the same questions, and if they donít get it by now, they never will get it! A: Some of the repeat callers do ask different question, but Iíll entertain that for today. Hopefully that will be it for today, but if we are here on Wednesday, repeat callers can come back.
Q: Are the rates still showing on the screens with RV beside them, and are they just waiting for authorization? A: Yes, so far as I know. Iím waiting for the current rates. They havenít asked me to do or not do anything, so Iím willing to share the rates. However, I think that call might be later today. You can see rates elsewhere.
Q: I am hearing that this RV is unrealistic. What can you point to that is show this RV is very probable? The bank memos seem improbable to me. A: Just because you havenít seen the memos doesnít mean they donít exist. As for evidence Ė just sit and wait, and that will show you at the right time. You have the currency and if you just keep up with whatís happening over there, I think youíll see the answers you are looking for. If you want me to hand them to you on a platter, well, Iím not doing that. You have to do your own research on what is happening over there, and then youíll see what youíre looking for. The protests in Iraq are being they want their currency revalued.
Q: How many banks are on lockdown? A: Some banks are, and some are not. We are leaving it vague so you cannot pinpoint which locations we are talking about, so you wonít go knocking on a door that you should not be knocking on. I am telling you so that you can know these things are taking place, but not where. Be happy knowing that itís taking place, so you know you made the right decision and are going in the right direction.
Q: Would it be wise to ask your wealth manager to transfer your funds to the trust side of the bank, just in case something happens to your bank, like derivatives. A: Talk to your bank, and ask if you can do that. Let them know your concerns when you exchange; they will let you know your options. If transferring to the trust side will help, they will let you know, if bank closures are an issue.
There was a request for first-time callers, so letís do that for the rest of this call. Letís give them all an equal shot. New callers only raise your hands.
773 caller: I read an article in Reuters about the minister over there who is handling the demonstrations, and the article said that the demonstrations are in support of the PMís reforms in the government. What is your impression? Also, it said Abadi should use the crowds in his favor while he can.
RayRen: I wasnít getting that feeling. And Iíve just realized that I know you, caller. You know the job of the news, and what itís supposed to do Ė to tell the people what it thinks the people should know. This may be Reuters, but itís still news. I imagine there are some people in support of Abadi, but the demonstrators are saying they want currency reform and against corruption now. If I were a demonstrator, I wouldnít be raising my voice if I thought the things I want are actually getting done. Although Abadi may be working on those things, the demonstrators donít think he is doing it quickly enough.
Caller: Are these the same protestors as last year? The article gives two different views in the same article.
Next caller: Do you talk to Tony and DC every day? What do they think?
RayRen: Yes, more or less. They think about the same things Iíve been seeing/hearing. DC is saying the info that we have. Have you seen me posting anything about ďitís already happeningĒ? Well, thenÖ
Next caller: Letís say you have a trust with two trustees, and one person passes away. Letís say that the children or grandchildren are the successor trustees. In the transition is there any way that disallows or prevents the remaining trustee taking action until the official successor trustees can be put in place?
RayRen: Itís about which type of entity you choose to utilize. If the successor trustees have been appointed upon your death, that happens immediately Ė you have set it up that way, the successor trustees replace you immediately upon your death, itís automatic. The other trustee cannot do anything in the interim, because itís immediate. There is nothing the new trustee can do without a board meeting, and that would have to be with all the trustees, the surviving trustee and the successor trustee(s). That would be recording and it would go forward from that moment.
Caller: Can the successor trustees vote the surviving trustee out?
RayRen: No, because normally you would only appoint one person to hold your spot.
Next caller: I called the Department of Revenue, and NC said that I will not have to pay state taxes if I exchange there because my residence is in Florida.
RayRen: I knew that for NC, but still recommend people call their particular states to see if the position is the same where they want to exchange.
Next caller: I have some people listening today, and they are wondering if the public will never get the opportunity because they seem to be slowing this down more and more. Is there anything you can share to get through to them? They are listening.
RayRen: So friends of yours, you need to do your own homework and stop listening to other people. There is ample information out there that will address your concerns, at least with respect to the dinar. Itís all in print; you can read it. If you are reading that, your questions will disappear. Itís just a timing thing. Itís all real, and you will realize that this is currency Ė itís not going anywhere. There are banks that will take it right this minute and give you the present value. We donít want that, we want the new rates, so we have to be a little patient and wait for it.
Caller: Iím glad that came from you and maybe they can have a little more confidence in it. We just have to wait our time, and it should be coming any time.
Next caller: In my local newspaper, itís saying that Iraq is going bankrupt, and if so, how we will be able to exchange. Or will the RV bring Iraq out of that?
RayRen: Was it an article or an advertisement?
Caller: It was an article on one whole page, and my friend asked how Iraq will have the money for millions of dinars if they go bankrupt? Tell me what to tell these people!
RayRen: Iraq is being labeled as the richest country in the world so I donít see how they would go bankrupt. If they are talking about not being able to pay their debts, they could pull that off, but that doesnít mean they are completely broke and have no money. That doesnít mean they will go bankrupt and disappear overnight.
Caller: I still think the RV is going to happen, but couldnít explain it to them. Just saying to the person at the beginning about wanting new callers only, then that person needs to realize we may have some questions that those who have been in for 10 years no longer have. We newbies may not have heard the same answers. Do you really think this might be your last call?
RayRen: Based on the information I receive, it might be. Iím looking forward to the last call, just as the banks are looking forward to seeing us. Based on the little information Iíve been seeing this morning, this could be the last call.
Caller: With what theyíre doing getting rid of the corrupt people there, is this slowing it down at all?
RayRen: If thatís the reason, I would say yes; it might hold things up to find and eliminate that corruption first. However, Iraq has already changed the value of their currency and that might be part of getting those people to exchange at those rates and get caught. Based on what my contacts are saying, everything is done that needs to be done, and my US sources are saying the banks are holding this up, not Iraq. I share what I get, and thatís as fresh as todayís information. We should have gone to the banks to exchange, and they are saying the banks held this up, but I donít know. Iím waiting for more information. If we had rolled on Friday, whatís happening in Iraq would be irrelevant.
Caller: My son tried to buy more currency and was unable to, so he was excited, feeling this thing is about to pop.
512 caller: All the confusion going on is getting confusing! The answer has been given that Abadiís movement with the cabinet has nothing to do with this hold up.
RayRen: Iím not sure, because they are not at a full RV yet. There has been a change in the rate/value in the country, and perhaps they need a few more things before the full RV comes through. However, if we should have been at the banks on Friday, then whatís happening in Iraq should not be an issue. Perhaps it will all come through together, in the twinkling of an eye.
Letís wrap it up on the super-fantastic Monday. There is other information but itís not yet solid. If more comes in that is as good as I want it to be, and if I can substantiate it, I will tweet it out. It might just happen, and we wonít need another call. Iím being optimistic that this is our week. Just believeÖ
RayRen played I Believe: