Highlights of TNT conference call. Updated as the call progresses.
Ray: Iraq Banks adjusting to new currency rates this week.
Intel message was, "expecting release of rates soon."
Ray: Information is getting more scare. Could it be there is not information to get? The last step or on the short list where there is not a whole lot to discuss and consider?
Ray did review of banks being set up from last Friday to today for exchanges that did not happen for the public yet. Then he went over the situation in Iraq: stable GOI, CBI role; GOI issues not a big deal on what we are waiting for; timing, etc.
Ray: I don't think the political situation is the main factor. . . Iraq Banks adjusting to new currency rates this week. . . If it's in the hands of the CBI then skirmishes and protests mean nothing to us.
CURRENT WINDOW: Ray: Iraq Banks adjusting to new currency rates this week. . . Sounds like good information to me. Under the impression they started yesterday. That was a regular business day for Iraq.
Caller: Have we ever heard before the banks in Iraq have a rate? Ray: No, I have never told you before that the banks are adjusting to the rates. Got that information from our intel people. Main message was, "expecting release of rates soon." We don't know what all is involved. I don't know how long it will take them to adjust to the new rates.
IRAQ: Ray thinks there are two ministers left to be named but said, if it is in the hands of the CBI, then it does not really matter.
- CBI: Since Iraq banks are adjusting to new currency rates this week it's appearing that the CBI is moving forward with the economic reforms despite GOI problems.
- Banks adjusting to new rates this week.
INTERNATIONAL:
- IMF
- Rates Dinar, $3 +. Ray: The rates I gave you Friday, I had one or two banks call and say, "Yes, we received those rates, but we will be paying more than that. Those are just International rates." Rupiah, $1.05 - $1.08
UNITED STATES:
- UST:
- Banks: still on the roller coasters of get ready and nothing transpires in the way of a public exchange.
Strategy: Own nothing. Control everything - If your in charge of an organization, you make the decisions and control but own nothing. The corporation owns the assets and the officers are in charge just as if they owned it. Ray: S corps, LLC's, Trusts, Foundations, all those different types of structures - no one owns the structure but the structure can own items, houses, cars, assets, currencies. But who is calling the shots of the entity? The officers who have full control of making the decisions. A lawsuit, people are looking for assets. Personally, what do you really own?
Q & A: TNT Forum
Q. - Layers of anonymity? Ray: IF looking at asset protection, we look at creating an entity. Quickest way is to open a bank account in a name other than your own. Business account . . . only needs a business license.
Q. - Paying bills a gift? Ray: If I remember correctly and I may not, paying somebody's bills is not a gift. To be sure call the IRS. . . Let's look into that. . . someone will put the information out there.
Q. - All locals received their monthly stipend cards? Ray: Haven't heard they are not receiving them.
Q. - Is it true some Iraqi's get monthly checks and others get nothing? Ray: I would assume some get paid in traditional manners, not just digital.
Q & A: Callers
Q. - I have a report. Will coins in the Iraqi bank be distributed when it happens? Ray: Yes, coins, lower denoms, everything will be distributed. The coins are called "fils." They have been out, but pointless to walk around with them (until rate revalues)
Q. - Do you know anything about the Generals 64 group? Ray: No, I don't.
Q. - If I purchase a house for someone is there tax on that? Ray: Call the IRS and ask them.
Q. - New dong currency coming out. Any information on that? Ray: I don't have any official information on that.
RAY’S CLOSING STATEMENT:
I'm just anxiously waiting to see how this rate adjustment is going to unfold. Complete itself today, tomorrow? No definitive time. Main message was, "expecting release of rates soon." Did say this week. I am highly optimistic now. Think this is a done deal. At least on the surface it appears to be. Time will tell. In the mean time, in between time, we wait. If we are here on Wed, I'll kind of be surprised. Hopefully, we will be here Wed. or earlier but to be discussing the other side. I look forward to our next call be moving on, discussing the other side.
Banks sharing information with us would make your exchange activity go a whole lot smoother. Maybe they will get some information to us in that regard We await that information as well. If it doesn't, if no 800 #'s out what will you do? Will you take control? Is there still time? Until we say it's over, still time. If by some chance we don't get the 800#'s you will have the information. Know who to call.
Until then we wait it out. We can be happy or sad. It's your choice. Read somewhere it takes more muscles to make a frown than a smile. This keeps me going - (played "I Believe").
