(Notes by Adept1):
Replay 605.562.3179, PIN CODE 409029#
TNT Call notes 2-September-2016
Ray: Good afternoon, TNT super-fantastic family! Today is Finally-gonna-see-it Friday, September 2, 2016. RayRen98 here… we don’t have a great deal of information. What you really wanted to here, no, we’re not 100% there but things are better, and we will address a few of those things.
From Wednesday’s call, there was reportedly some activity with dong, but I still haven’t had an update on that. One member was told to come back in a few days because the currency was revaluing. I don’t know what happened there; the dong is still showing ‘pending’ at that particular location. Yesterday someone submitted dinar, and it did not say ‘pending’ but they were told 24-36 hour wait for the funds to show up in their account.
It’s been interesting getting information, with anticipation of rates going live. There have been some reports on the amnesty laws, etc., and the other laws that need to be agreed upon and published – they have been agreed upon, and there is even video showing this. The HCL is completed and put away. Some people think these two laws were the major holdups, so we will find out if that is true because those have now bee put to bed, so far as I understand.
I don’t have an update for the Iraqi citizens. There has been talk of a plan for protesting, although I have not seen it yet myself. My most recent information is that they are calm there. These are good signs of progress: the laws being passed, rates beginning to show up in the US and territories. When is it our time? I don’t have the answer for you; I can only give you the steps that lead us to think it could be now, later today, first of the week – I don’t see why not.
Questions from the Forum
Q: I have a mortgage and credit card from Wells Fargo, but I don’t have an account. Will this be enough?
A: Maybe you’ll have to contact them and see, but don’t refer to dinar or other currencies they may say No to. Just call them up and ask! I think they will say you need an actual account, but they will be happy to create one right away so that you can deposit your exchange money.
Q: You have mentioned that you plan to exchange your currency into a trust, which is what we plan to do also, but you also mentioned that you would not put your money in a non-interest-bearing account. We were told by our banker some time ago that all business accounts (including trusts) are automatically non-interest bearing. Did you mean that you would right away put your money into some type of investment vehicle since the bank account itself would be non-interest bearing?
A: First, it’s not MY currency. The trust owns the currency and I plan to exchange into the trust account. All things holding true, that’s exactly what I would do.
Q: Do you think it’s a good idea to wait a few days after the RV to exchange the dinar and dong? If so, how long (in your opinion, of course).
A: Of course I think it’s a good idea if you are not going after the contract rate, but I don’t know for how long – I’d have to watch the values. Exchange when it gets to a rate you are happy with.
Q: I would like to know if I exchange one or two currencies could I be able to still get a high rate later? [Ray: I don’t see why not.] My next question is how do we make appointment at more then one bank and get contract rate with all of them?
A: Why would you want to do that? If you want accounts at different banks, call each of them up and make your appointments.
Q: ZIM…are we still looking to drop 6 zeros or are we to drop NO zeros?
A: I don’t know. You have to decide for yourself. The only information I have received is that they will be removing six zeroes. If that has changed, great!
Q: Can this wait keep going on for years, waiting to be at the banks to exchange?
A: I don’t think so. With the things that have happened and will happen soon, I cannot see this going on for months, much less years.
Q: In your opinion, what amount of currency would qualify to be a WHALE?
A: I have no idea; the banks make those determinations. I seem to remember a bank making a reference that if you are holding 20 or more 100 zim notes, you’d be considered a whale, at least in zim capacity, but each bank might have its own criteria on that.
Q: Ray could you clarify your post from yesterday about the HCL being accepted and activated, was that “Confirmed” or just reported to you by another member?
A: That was intel, with the video supporting it.
Q: As in your post this morning from last nights call about “Rates”, you stated they were “reported” and “unconfirmed”…..so are we to assume the HCL statement has been confirmed or ONLY reported to you? Many members in chat yesterday said you wouldn’t post it if it wasn’t confirmed.
A: I think I answered that for you. The reason I said the rates were not confirmed was because a member told us those rates – it was not MY information, it was someone else’s
Q: Will we be able to tithe the full amount to our churches, or will we have to tithe according to the structured payout, if there is a structured pay out?
A: It is difficult to answer a question that I can see has legal challenges on the surface. If it is a structured payout, you can only tithe on what you have actually received. Your tithing would be based on those amounts, because you can’t tithe on what you haven’t received yet. You cannot be taxed on it either, so far as I can see.
Q: What are the new abbreviations for the currencies . ZIM, IQD, VND etc.?
A: I don’t know of any new abbreviations; the code letters are still the same, I believe.
Q: I gifted currency to my child in 2013. my child recently married, would my child have to include his spouse to receive the contract rate?
A: Last I remember hearing about contract rates, I would say Yes, both spouses have to sign the NDA associated with contract rates. Welcome back to the sons of Depaul – I’m glad you’re back and helping your mom out! Live callers:
610 caller: Donate! www.tntsuperfantastic.com, click DONATE button. RayRen: Let’s leave that until after Labor Day, see if we still have an issue.
918 caller: Re yesterday’s tweet on the HCL, to me the word ‘accepted’ means Parliament has passed the HCL, and ‘activated’ means that it has been printed in the Gazette and it’s now in use. Am I one the right track here?
RayRen: Subtract ‘printed in the Gazette’ and I would agree. Caller: On today’s call, clearly we are not 100% there – could we possibly be waiting on a victory speech about Mosul or any further corruption cleanup in the GOI?
RayRen: I don’t think so. People have received information of RV in effect from various bank employees. I don’t think the instructions would have gone out to the banks… that’s the deduction I make, anyway.
604 caller: I wish there was more Canadian information…
RayRen: When I receive it, I share it. Some things are a little sensitive, so I have to be vague in what I say and let people read between the lines. You people are sitting real good.
572 caller: Did anyone who did an early exchange have to pay taxes? What rate?
RayRen: I have no way of knowing that.
707 caller: So this is it, eh? I hope so. Do you have any information about the new money, the USN?
RayRen: Not if it’s supposed to replace what we are using. The only new money I.ve heard about is still the FRN with new designs and maybe brighter colors.
856 caller: [can’t hear the caller] What’s the difference if you are a whale, or half a whale or whatever?
RayRen: Just in my personal opinion, a whale would probably be able to go in and negotiate, get what she wants, with less talking than a non-whale. A non-whale would have to do more talking.
Caller: Well, I’m not greedy, so…
RayRen: Here’s why you should be greedy. When you look at the groom and doom some are projecting on the US dollar, IF you subscribe to that, what will your money buy you? I’d rather have too much than not enough. If you have too much, you can always give some to someone else. Being greedy, to me, means “I’m taking as much as I can so you can’t have any”, whereas I’m willing to take my share because if I have a lot, then I can do a lot.
Caller: If you have some, but not whale level, would you buy more or just try to negotiate for a higher rate at the bank?
RayRen: I would do both. If I find an extra $50 that’s not allocated or needed, then I’ll buy more currency because that is for my future. That is putting my spare money to work so it can bring me back a good return rather than leaving it in a savings account. Don’t hurt or over-extend yourself, but buy what you can. Dig deep, apply that strict discipline and put that money to work from an investment standpoint. Then you can still handle your bills with what the money you already have, then put that new money to work for your future. Put that money to work today and it will come back tomorrow. For those with small amounts to exchange, you need to be disciplined in how to manage that money; put it to work, let it create a cashflow, and adjust your life to that cashflow. There is a formula that tells you how much you need to start with, at what rate of interest, for you to have the income you require on a monthly basis. You need to know how much you want to live on … or know how much you will receive at exchange. With this formula, if you have five million, and you select, say, 5% interest, it will let you know how much monthly income that will create for you, in whatever investment vehicle you have chosen. With that, a person can set their lifestyle. You can plan because you know what you are working with. Whatever other income you have to go with that, that will help you determine your lifestyle, based on the fixed amount you have coming in. Go to bit.ly/openmicformula and feed in your figures. [Example: five million x 5% = $250,000 per year = 20,833 per month]
Caller: Who would we look for to talk about trusts and such?
RayRen: You know about the task force initiative these last few calls? No? Where have you been? I have a team setting up banking seminars in 13 locations around the country. They have already done 80% of the planning and preparation, so that the moment this RV goes live, they will go into action with banking people to educate us on these various points… not individually but one thousand at a time. Also, we will have the party and expo in Las Vegas, but that will probably be a month or so later. So for those worried about who they are going to talk to… ‘we’ve got you!’ Membership has its privileges.
516 caller: Will there still be an international rate for the zim? Or only a contract rate?
RayRen: I cannot get a straight answer on that because they don’t have one. The banking community is still wrestling with whether to treat the zim as a currency or as a bond. Until they reach a conclusion on that, everything else is in the air.
Caller: I called my bank yesterday to purchase some more dong, and asked about the rate. The person was busy and got back to me 20 minutes later. The rate worked out at $503 per million, which is ten times what paid a year or so back. My currency dealer said $72 per million. So I could exchange some of my dong at the higher rate and buy more at the lower rate, if that isn’t double dipping.
RayRen: Okay. I don’t know of any way you could get into trouble with that.
615 caller: Do you think we can still use the codes IQD, etc.? A year or so back, it seemed like they might give you different rates for the different codes.
RayRen: I don’t think they have changed. If you are handling the actual currency, it’s still IQD. I think if you are in the markets, there might be IQN. I guess we will find out together.
954 caller: [Appreciation] Question about the formula, and about getting into the forum.
RayRen: It’s bit.ly/openmicformula I can’t get you into the forum, but there are other ways to keep you connected.
Caller: What’s the POD again? How can I get the contact rate? What about the first, second, third mouse – is that still in play?
RayRen: Let the bank know that you want contract rates. If you ask and they say they don’t know about a contract rate, and the rate is X, that’s when you look at first, second, third mouse. You can wait to for that to climb if you’ve been declined on contract rates. That’s what I intend to do: “I want the highest rates, the contract rates” and if they say I can only have what’s on the screen, I’ll hang up. If the first one says that there are no contract rates, then I will call other banks. It will only take a few minutes to make those calls. Like the advert used to say, ‘Let your fingers do the walking!” 301 caller: Some people think that the TRNs and the FRNs are sitting side by side on the $100 bill. Down the middle is a blue division; on the right side there is a gold inkwell, feather and 100. The legal tender notification has moved to the right side as well. Some think the bills may change after the RV, but the gold-basked aspect is coming in now.
RayRen: We don’t have enough time on this call to say what I think about that.
Caller: The advantage of having an experienced banker is that s/he knows the system and can show you how to work it, rather than the retail side that just takes the money.
Next caller: What do you think of tax-free municipal bonds?
RayRen: I love them, and would use them as part of my portfolio.
Caller: Is there conventional wisdom of percentages of different parts of your portfolio?
RayRen: If so, I don’t know that formula, and will be relying on professionals post-RV.
847 caller: How can I send you money? That formula itself is worth a donation. 636 caller: Do you know someone personally who has exchanged?
Caller: How is this legal for some to have exchanged when others have not?
RayRen: I don’t have the answer for that. It has taken place, so I have to assume ti was legal.
It’s time to wrap this session up. It’s the Labor Day weekend; if you have some spare time tomorrow evening and you are in Houston, Imaginary is getting married at 5pm CST. I have been teasing her that I am going to come and do something crazy at her wedding. She would love the TNT members to crash her wedding! Congratulations on your nuptials, and we hope you have a happy, happy honeymoon! Hopefully something will come in over the weekend to make it all more enjoyable for you.
We are still waiting to see what’s going to develop and when. There is always private and public activity for everything, and this is no different. Some people got in, some have exchanged more than just dinar; we are waiting for the full public release on all of it. Timing is everything. I’m at peace with where we are in the process. Things could pop today, over the weekend, next week… there are various scenarios at different levels of information, and it can change by the time it gets to us. We will not be back with a regular call until next Wednesday, because Monday is a holiday. However, if things come in, we will try to get them out to you, to keep the craziness to a minimum. Let’s see what takes places next, and we’ll go with it.
RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLt