TNT Call notes 6-April-2016
RayRen: [TNT Rap] [audio checks] Good afternoon, TNT super-fantastic family! It is Wednesday, April 6, 2016. This is RayRen98.
Regarding one of our community members, Poppy3 did have some kind of stroke yesterday afternoon and has been in the hospital since then. He is in the process of bouncing back. Please keep him in your prayers. Give him and his family time and privacy to recuperate, please.
There is a little bit of business to deal with on this call. Lines are clear and we’re good to go. Welcome to When Am I Going to See It Wednesday! As the man says in the pulpit, I won’t be long – just a short message. Not that much ahs changed since Monday. Some were wondering about the tweet: “Curiosity prevails – where’s George?” Curious George as a monkey in children’s books – he came to the US and the man in the yellow hat had to instruct him. What is happening over the pond? Where is Curious George looking for the man in the yellow hat? What’s going on with the Budget? What political things stand in the way, if any? Is this about Maliki’s supporters who apparently are refusing to vote on cabinet selections and other things? Will those names of those not voting then be given to the public?
Not having received timely information this morning, and a possible blackout yesterday, and therefore little information was flowing… but some trickled out but not enough to satisfy the curiosity about what’s going on in Iraq. The Budget has been passed; is it in the Gazette today? We don’t know yet. So we become the Curious George looking for more information, although we won’t get the date until it happens.
In the US, some banks are still on pins and needles saying ‘today’; I’m going to wait and see what happens tomorrow. That’s what we have intel-wise for US. We are still waiting for the US to cooperate, but we have learned that when the 800 number comes out for Canada, they will want to know your name, address, currency, which bank you have an account with and which you want to exchange with. They will offer you two appointment times. It and when I learn more information, I will bring it to you.
That’s it for today, at least for now.
Q: Would like to know if you have heard anything about the Admiral’s group going in yesterday; if some groups have gone in, wouldn’t the dealers have changed rates?
A: I haven’t heard anything about any group going in yesterday. If that did, I wouldn’t expect Travelex to change rates until the public goes. I have been told that private exchanges, groups and then public exchanges, and would expect Travelex to follow behind that.
Q: I wonder if with this influx of wealth whether there will be enough qualified professionals to handle us. A: Banks have been training for this event for the last two years, so I think they will have enough to handle us. Some professionals will be behind in this, not understanding that it’s happening, but others have seen this coming and made the necessary preparations. On the other side of the fence, there will be numerous professionals to choose from. Some will be better equipped but you will have a choice of others to help you get what you want.
Q: Would putting our money into shelf trusts compromise other trusts? A: I don’t think so.
Q: Would using ‘pre-canned trusts’ affect tax accounting? A: I would think so; it depends on your specific arrangements. I’m sure there is a way to keep from creating a tax event when you move your assets to your permanent trusts.
Q: Wouldn’t PODs on your accounts be better? A: It depends on what purpose you are serving. If it’s just to make sure beneficiaries get the assets, a POD would be enough.
Q: I have two grown sons; can we go in to appointments at the same time? A: Ask the bank that question.
Q: I’m concerned ISIL has trillions in dinar and will use it to buy weapons. Will it stop the RV? A: No, it will not stop the RV.
Q: I listen to your calls three times per week. Every time it comes close, something always seems to come up to delay matters. It’s not about us, but when the whales are still cashing in, but there are problems with the little fishes… I believe we are being drug through the mud. How long can this go on? A: Not really a question in there, just sharing how you feel. I don’t know how long this can go on. It’s just like life – some get treated better than others, and some don’t even know what’s going on. We are at a game, and when it’s over, that’s when we go down on the floor to celebrate. We don’t’ control the game, the only time we have a choice is when we are wronged. Otherwise, we watch the game until it’s over. Sure, some go in front of others – that always happens. But we will get our turn, we just have to let things take their natural course, even if we don’t know what that is. We thought we knew what that would be, but that didn’t materialize because we didn’t know the full plan. We just have to sit on the sidelines, get as comfortable a seat as possible, and stick it out. If you are on the rollercoaster, hold on and enjoy the ride.
Q: When we exchange and the bank sends it to the UST, what value does the bank get?
A: If I knew that, we would know exactly what the deal is and wouldn’t have to negotiate!
Q: Have you confirmed Iraqi prices have been reduced? A: The only way I can confirm that is to go over there and buy something. My sources say that they have.
Q: Are the rates higher on the Qi cards? A: I’m assuming they are still the same.
Q: Do you ever get to talk to the esteemed statesman behind the scenes? Tell him thank you and keep up the good work!
Q: Whales have been cashing for quite a while, any idea when it will be done? A: I don’t know where we are with the private exchanges; we’ll have to wait and see.
Q: My concern is if we don’t see when the 800 numbers come out, how will we know?
A: When the 800 numbers are available, I will post them on TNT – it won’t be a secret. If they don’t give me those numbers, contact the banks in your area NOW to find out which are foreign currency exchange banks… generally, not for dinar. If they press you on which, just ask about the ones that are available, like euros or pounds. Ask if they authenticate on location, or if they sent them off for verification. You want them to verify on the spot, so call and ask in advance. So when we say “it’s live”, you’ll already know whom to call. Do your homework and you will know what to do if we can’t give you supporting information.
Q: Do you think the private currency exchanges will have the rate… in the mall… what?
A: I’m assuming they will have the same rates, you’ll just get to go before the public.
Q: Did you start the recording? A: I do believe I did.
707 caller: I know this has been discussed before, but what do you think about Multi-Currency Accounts (MCAs)? Also, what do you think of impact investments?
RayRen: What are you trying to achieve with the MCAs?
Caller: I’ve read that MCAs are good if you want to buy other currencies – any problems with MCAs that you know about?
RayRen: Call the bank and find out what an MCA is and what they are used for. What are you going to buy that you need foreign currency for? If you just want to hold that foreign currency, not investing it, then you may choose a different strategy.
Caller: So it’s more about a brokerage account? I don’t think that would fit my needs. [Appreciation] Vegas, Vegas, Vegas!
512 caller: Is the reassignment of Iraqi cabinet posts slowing things down?
RayRen: It may have been but I don’t think it’s an issue now.
301 caller: Being on the call makes me feel like I’m belonging.
Next caller: I listened to the Big Call last night and various people said there have not been any delays, just that it’s a process rolling out. Do you agree with that?
RayRen: It all depends on what you are calling a delay. There are not holdups as such, although this should have happened long ago. If you put something off, something comes into play that creates other circumstances that throw it off even further. There have been delays in that regard, from up to two years ago. [Call dropped]
