TNT Call notes 11-March-2016
RayRen: [TNT Rap]. [audio checks] Greetings, good afternoon, TNT super-fantastic family! Welcome to Fantabulous Friday, March 11, 2016. This is RayRen98. I understand that one of our members, LadyC, is in the hospital, so I want to dedicate this call to her. We wish you a speedy recovery.
I don’t know if it’s Finally-Gonna-See-It Friday, but many bank people are anticipating it today and/or tomorrow. Friday or Saturday, both are good for me, and that is the general consensus. Earlier this week private exchanges took place, and that let’s us know we are still in the game. Progress is being made. Some activity is better than nothing. The banks are still looking for us, they are just waiting for the final release and go-ahead. Everything else is in place, systems are all go, rates are on the screens, no pending, everything is good to go, we just can’t touch it yet. People have attempted to exchange and the bank people haven’t been able to do it on the public side. But everyone wants to get this over with, and move it on through. We want to move it on through as well.
What’s the hold up? The answer is elusive, and we wait on that. In Iraq, they are getting some mixed messages like we experienced earlier this week. Last time we talked about Abadi possibly waiting for ten days to resolve the cabinet and CBI issues, and we thought may that is the hold up, but no one really knows who is not at the round table making those decisions. Now there have been some developments since then: there was an article saying Abadi would make a speech or announcement on Thursday. He sent out a tweet saying the new cabinet would be announced ‘soon’. We know their time-scales and words are not exactly the same as ours. But that was the message.
Also, there was another report that he DID make an announcement yesterday to say he would make an announcement today, Friday. We anticipated the announcement would be that the cabinet is set and done, and the RV is released, and everyone would be happy. We are waiting on that information from across the pond.
There are numerous articles out there, and some have truth in them while others are there to mislead us. One article talks about a partial halt in the Iraqi markets due to high exchange rates. What does that mean? We believe the effective rate is between 90 cents and $1.08, not just in Kurdistan but across the board, including Baghdad. We are still waiting on confirmation, but I had that on Monday and here we are on Friday, and seeing these articles. So something is happening over there with the rate structure. We have intel that the cards have been loaded with that rate, and there is still citizen unrest because they expect the higher rate we have all been anticipating.
That’s the intel for today, that we feel good about. I’m sure you are hearing other info from other sites and calls; some of it is outlandish and already proven wrong based on our contacts and sources and events in general. You can still that people in charge of this country are still in place, and still keeping their appointments. The tainted parts make it hard to believe the rest of the information from those sources. So I am only giving the intel I get from solid sources that have proved true in the past.
Let’s look at the questions from the forum members; there are quite a few today.
Q: Why are the US government, IMF and world banks still blocking the RV? A: I don’t know that all three of them are still blocking it.
Q: Why are the banks claiming ‘any minute’ when cities like Mosul are still in ISIL hands? There seems to be a disconnect. A: Do those issues have to be resolved before an RV? The banks are going on the information they receive and make their decisions accordingly. The banks are training their people, staffing the exchange centers, etc., based on the info they have received.
Q: Are you still seeing the 20th mentioned on Iraqi television as the time for Abadi to complete the reforms? A: With Abadi’s tweets that the new cabinet will be announced ‘soon’, I think that is more important than the date of the 20th.
Q: Who is calling the shots here? A: With all the conflicting information, we just have to sit, wait, watch and be ready to move on a moment’s notice.
Q: Many of this intel seems like stalling actions to slow this down, especially with the rates rumors, bond sales, and so on. Does more have to be done in Iraq before the release? IF so, what? A: Yes, and I decline to say what I think those might be.
Q: Are there things that need to be addressed outside Iraq? A: I’ll leave that alone, too.
Q: Do your sources say that Mosul needs to be under control before the RV? A: I’m not hearing that. I do think we are further along than the public news would suggest.
Q: Do you think the 100 and 50 trillion zim notes are historical bonds? A: I really don’t care as long as I get the rate. Whether pennies or dollars, that will be the rate. I intend to get the higher numbers, if I can.
Q: If we go to exchange centers, how do we get the funds into our own bank accounts? A: What are we calling exchange centers? If you mean the places in the malls or airports that exchange currency, you give them paper and they give you paper back. Some people say they will wire them into your bank account. Mostly when we speak of bank exchange centers, that are part of the banks themselves, you are still exchanging with the banks even if it is in a different location. You give them the currency, they sign for it and fill up your account in their bank.
Q: The ISX was active for a few hours and then shut down, reportedly because the value of the dinar rose too fast. What’s your view? A: The article said they had to halt the market because of high exchange rates; I haven’t received more on that today, so far.
Q: Have any groups actually exchanged? A: As of yesterday, those groups have not been to the banks yet.
Q: How soon will we go after the groups? A: If we don’t go at the same time as the groups, we will be maybe 30 seconds behind.
Q: Have you heard that the President and VP resigned? A: Someone emailed me that on Monday but President Obama was then in Canada talking to their Premier. Don’t believe everything you hear, especially on the internet!
Q: Have you heard the latest rates? A: Yes, I have, but I don’t see the need to repeat them as they change every day, and so I think the rates are just place-holders. You will find out the true rates when you go to exchange, and once they are public, you’ll know anyway.
Q: When the internet group gets 800 numbers, will I be able to exchange in Germany?
A: I would think that when the rate goes fully international, you can exchange there or at any foreign exchange bank in any country.
Q: If everything is ready to go here, why would we be waiting on events in Iraq? A: I don’t know. Maybe if they hear me on this call, they will contact me and give me the answer!
Q: If you only have dong and want the highest rate you can get without signing an NDA, should you wait for the 800 numbers or hold back until it goes public? And what is the dong rate? A: We are hearing 47 cents to two dollars, so that would probably be the highest rate you can get without contract rates and an NDA. I am not sure we’ll be getting 800 numbers; cannot count on that as much as some would like me to believe.
Q: Do you think that zim will only be exchanged at Wells Fargo? A: No. I think all the tier 1 banks will be exchanging it as well – several have said so already. I don’t think WF will corner the market on the zim.
Q: I would like some clarity on this information: I have family members overseas who have currencies. How are they supposed to leave their duty to exchange? A: I assume they will be able to exchange on their bases – they should check that out in advance, so that when we are ready to rock and roll, they will know what to do. Have them check the base banks and find out their procedure.
Moving on to live callers:
716 caller: I have a question. Before, I have heard (from Tony) that when you go in to exchange, you should create new accounts to put them in, then sweep them into another new account, to keep them in the bank. Is that still the policy?
RayRen: No, and you didn’t hear that from us. Before we did talk about dealers wiring your dollars into your account, and then to sweep the funds into a new account so that no one could withdraw that money back out again. You found that information coming from the forum, in the Ten Things list, but that wasn’t actually from Tony or his strategy.
Caller: That makes it easier for me! [Appreciation] Vegas, Vegas, Vegas!
602 caller: From your opening statement, you said there some things that needed to be done. Even though the banks are saying today or tomorrow, does that mean you think that this is further away than this weekend?
RayRen: No, I’m going along with the banks. I don’t feel so, I just try to stay out of affairs of state, and they won’t make a difference to the RV, so I leave certain things out. I am listening to the banks right now; it’s a more enjoyable ride.
Caller: Me, too! [Appreciation] Vegas, Vegas, Vegas!
918 caller: I’m a first-time caller, with a comment. I’ve been in this for a while, listened to a lot of call with a lot of (mostly) disinformation… This is like a basketball game where the crowd is going nuts believing things as a the journey goes on; with one second left, who would I want at the free throw line? RayRen, especially after all the BS that came out this week. The sign of a true pro is someone who knows how to act, when to act, and when not to act. [More of the same] I want this to happen because I want out of the BS! Vegas, Vegas, Vegas!
541 caller: when Tony and DC were doing the calls, there was reference to a backdate when we can exchange the zim.
RayRen: That date has changed twice already, and when this goes live they will probably change that date again. Most of us won’t take a lot of time to get there anyway, when you think of what that currency represents. The minute you know it’s available, you’ll go exchange your zim right away, so I don’t think we’ll be worrying about an expiration date.
Caller: He’s not able to do a humanitarian project, but will give money here and there; no one expected the zim rate to go up so high, so he needs time to find the right organization to give zim to, so that they can exchange it to support their humanitarian projects.
RayRen: I think you guys have been misinformed. From the banking people I speak with, nothing you are going to do with this money will influence the rate that you get. If the person across has the authority to grant you a contract rate, and we ran through some scenarios where they would make those decisions. If I were that person, in a bank that is there to make money, I wouldn’t be as interested in someone who is just going to give all their money away. I’d be more inclined to give a higher rate to those who want to engage with my bank.
Caller: He doesn’t want to have it period. He wants to GIVE it to the individuals and/or organizations that are doing these projects, and then they can exchange.
RayRen: So what is the concern with the date?
Caller: He needs time to find legitimate recipients.
RayRen: If you want to find recipients for the actual currency, and you are worried that the currency will expire before you can make those gifts… then just go exchange it and hold onto the money until you are ready to make that distribution.
Caller: He doesn’t want to do that. Do we still only have 20 minutes to do the exchange? Opening an ordinary account takes 20-30 minutes.
RayRen: Those who have done early exchanges have taken an hour or even two, so maybe that 20 minute limit is no longer an issue.
313 caller: I was reading something last night that said Iraq will start issuing bonds on the 16th. That means they would have to have an international currency, right? So that means it has to happen before then…
RayRen: That would be the impression. Of course, the same thinking happened a few years ago when they started selling stocks, but it turned out that was only in-country. So we will have to see where those bond sales take place.
Caller: When is it going to end?
RayRen: It would be nice to have the answer to that question. Probably Abadi knows. All we can do in the interim is to check our paperwork and lists, and make sure we are ready. That’s all we can do for the time being.
Caller: [Appreciation] Vegas, Vegas, Vegas!
707 caller: [Appreciation] Vegas, Vegas, Vegas!
601 caller: If you and I both go into an exchange, and you sign an NDA and I don’t, why would I not be able to talk about it?
RayRen: You would be getting the international rate, and I would get higher rates, so I would sign an agreement not to talk about it. The NDA is not saying you can’t tell people that you exchanged, it just prevents you from talking about the rate at which you exchanged.
Caller: Could there be something that would give the bank some other power or control over your money?
RayRen: No, the NDA is just a Non Disclosure Agreement; it doesn’t give the bank carte blanche over what to do with your money, unless you make such an arrangement so that they can invest your money. Yes, it may be as much as five pages, but that’s just legal verbiage, with a whole paragraph is required for things we would need one sentence for. In legal documents, you have to make sure thee are no loopholes. A three-page NDA might only say one thing, basically, but the legal language to cover all the bases.
Caller: How is it that some groups have permission to go and we don’t?
RayRen: The only exchanges I know about are private individual exchanges. The groups are still waiting to go now, and we are included in that activity. Then it becomes public knowledge, but we’ll be long gone by then.
Caller: What is this about going date, to the next date, to the next date?
RayRen: Those have been dates WE have been working out. When the government is giving a date, they tend to keep to that, like when the Iraqi government gave out their cards. We seize on those dates, and then we get disappointed, but it’s not the government saying that. Iraq said “you’ll have the cards by the 1st”, and they did – they just weren’t funded as we expected. Some are still getting funded now! That’s a part of the process that we didn’t anticipate.
Caller: Some while ago, they said that we could exchange a 25K dinar note and then do the rest later. That would have taken a lot of stress off people.
RayRen: On the other hand, the rates are much better now, so think of what we would have lost if we have exchanged that 25K note, just to satisfy some immediate debt. Some found other ways to satisfy their debts – or not – and life carried on. We made it. This has taught us how to be more patient, to persevere and to plan better. In the long run, that makes us better people.
Caller: [Appreciation] Vegas, Vegas, Vegas!
Looking at the clock, it’s Friday and we’re waiting for what can possibly happen. We have bank people expecting us today, tomorrow, with some banks telling their people not to take time off. The announcement from Abadi should take place today, and that could be about the new cabinet and CBI. Could the rate move from 90 cents to $3.41? We don’t have the answers yet, so we have to wait ti out. We are still in the midst of this final phase of this pre-RV activity. When it happens, we start a whole new phase. Until then, we hold on, because I believe.
RayRen played I Believe:
https://www.youtube.com/watch?v=9DYrqOUKLtA
