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Featured Post

"Look Beyond Intel" by YME - 10.20.17

Entry Submitted by YME at 6:37 PM EDT on October 20, 2017 Schedules of releases is of course very exciting, and everyone can be at the edg...

Wednesday, July 19, 2017

TNT Showtime CC w/ RayRen98 Notes by Adept1 7-19-17

(Notes by Adept1):

TNT Call notes 19-July-2017

Replay: 641.715.0623, PIN CODE 409029#


https://events.iteleseminar.com/?eventID=99977880

RayRen: Good afternoon, TNT super-fantastic family! Today is Wednesday, July 19, 2017, with yours truly RayRen98 at the controls. This will be a short call. There is no new information, but we can never hear training too many times. Let me start off with questions on the board, and then review a few items – that will be it for today.

Questions from the TNT forum

Q: What differences are most common between non-statutory trust and complex trust??

A: those are two different classifications. A non-statutory trust is one where you did not go to the state for permission. A complex trust is one where the trustees have complete control. You can have both at the same time.

Q: Is it possible or probably that the GCR is waiting for an economic crisis which can only be solved by a GCR? Need a cover story for the public to justify the change.
A: I have no idea.

Q: Based on Monday’s expectations for this week, and since there is no new intel, Are we still on track for this week?
A: Yes, because there’s nothing to indicate otherwise.

Q: I’ve only used my self directed IRA for making loans to others. Please give us some training on S D IRA’s such as does the administrator purchase the currency for me and then exchange it once it’s eligible for exchange. If you can’t answer directly, can you give us a scenario?
A: Yes, could be. Some custodians want to have a third party to do that. One of the companies TNT members have had success with require a third party entity to do the currency activity. Others will do it for you and hold it in a deposit box, so it depends on the particular company you use.

Q: TRUST – If you are a single person with no family, how would you get from grantor position to the trustee position to be able to utilize your funds?
A: Your service provider will advise on the steps you have to take to make that work for you.

Q: If the Zim will now be treated as a BOND rather than Currency, do you know if there will be a FEE for the redemption transaction? [RR: I have no idea.] And if there is, will we need to try to negotiate it at the FIRST MEETING?
A: I will try to negotiate everything in that first meeting, even the temperature in the room! Even if I can’t get what I want, I will at least try.

Q: What are your thoughts on key dates if we do not wake up to an international rate tomorrow? [RR: Haven’t heard of any dates to look forward to.] Any news in the mosques or Iraqi television that you can share? [No.] Do you believe that the Iraqi fils (coins) will be released to the public this month?
A: Yes, I have the expectation, mainly because I don’t have any contrary information that it will not.

Q: When or is there a meet and greet scheduled for Houston?
A: No, don’t think so.

Q: Have you heard of a DBLC or Debt Burden Liberation Certificate, lifting debt to the world starting with Indonesia? This was signed February 4, 2016 and takes care of debt before this date starting in August, 17 2017.
A: I haven’t heard anything about that.

Q1: Any information on whether the Iraqi citizens are upset about Abadi failing to deliver on his promises for what was to follow upon the heels of the proclamation of victory in Mosul? [RR: No information on that.] Any updates on when and if he is going to keep those promises?
A: No information on that, yet.

Q2: Any more information/confirmation regarding the IMF pressure on Iraq to get this done by the end of this month?
A: No information on that.

Q3: Regarding self-directed IRAs, my understanding in speaking with experts on this is that you cannot deliver existing currency to the administrator of the IRA, you have to authorize the administrator to acquire new assets (currency). [RR: That is correct.] So it does not appear to me that this would work for existing currency we are holding. Thoughts/comments?
A: That is correct as well – if you continue to hold it.

Q: Did you get a chance to read the new article that says: We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor. It was posted in the forum yesterday I believe; what are your thoughts about it?
A: I think it’s pretty good that they are telling you something you already know. That’s not getting us to the bank. Anything they put out now should not be a surprise. We are just waiting for the green light, and if they want to tell us anything else, that’s the political or bureaucratic process. They’re not telling us something we didn’t already know.

Live questions

470/865/404 caller: On the issue of structured payouts… some people are opposed because it feels like we have to take it. What are the advantages? What about for those who don’t have as many years left, are structured payouts viable.

RayRen: To my mind, structured payouts would have to be 100% voluntary. The only advantage I can see is for people who can’t control how they spend their money. That’s the only advantage I can see of a structured payout. If the exchange is taxable, then a structured payout could have an advantage for those who don’t know how to work with the system. If you do know how to utilize all the tax-saving strategies, there is no advantage. For example, a self-directed Roth IRA is a great tool, if use correctly. If you are getting something in addition, such as a higher rate, then I could see that working. However, if I were to come to you and say I have 50 million I want to exchange, and you say I’m going to give you 25 million and the rest over time – that doesn’t work. However, if you said, I will give you 100 million stretched out over time, then I might consider. That structured payout concept doesn’t sit right with me.

Caller: I can see how it might allow us to defer taxes, and in that case…

RayRen: We would have to work the numbers. It is possible that I could exchange, pay the tax, and still make more over what’s left than waiting to receive monthly amounts. You have to crunch the numbers, and see how you can put a lump sum to work rather than smaller chunks. It’s about putting it to work making more money, THEN shop and buy and give things to friends and relatives.

503 caller: You have talked about the self-directed Roth IRA; I haven’t found a reputable company in my notes.

RayRen: I didn’t mention one on this call; Google ‘self-directed Roth IRA custodians’.

Caller: The non-statutory complex trust – will be there a time post-RV that we would have time to set up the structures, would it still be beneficial for tax and cash flow?

RayRen: Yes, for more structures. If the exchange is not taxable, you didn’t need to have structures in place. If it is taxable, and you didn’t set up the structures in time, then the tax will eat you up. Keep in mind, trusts are the highest taxed entities in the US at 39.6% on the income it contains. If you create a trust on Monday, and you exchange on Tuesday, and if that exchange is taxable, that trust will be hit on all that money. It’s the same thing if you create a corporation – you won’t have time to create any tax write-offs. It might be better to exchange in your own name, and be taxed at 15% (for example). It’s all about timing, and whether the exchange is taxable.

Caller: If you make more than 500K, It’s 55.8% state and federal taxes combined here in Oregon. So a trust might give me more asset protection as well as lower taxes.

RayRen: Provided it’s done correctly. There will be classes and seminar post-RV.

Caller: I have been looking at the Masters Trust, but don’t know if it is quite the entity you have been talking about.

804 caller: If you all these funds, and I do intend to take the classes, with all these funds we have been having the hardest time finding institutions that give us any information or willingness to exchange. I do know some people have exchanged, so it is obviously possible. I’m not on the forum. I am currently married, and I want to protect my funds to make sure my children are protected. I do have some knowledge about trusts; I also want to make sure that if I were to be divorced, I still protect for my girls.

RayRen: The best way to protect an asset is to NOT own it. What you own belongs to the plaintiff and the plaintiff’s attorney. What’s the number one issue discussed when a marriage breaks up? Dividing up what we own. If you own nothing, there is nothing to split up. If you are in charge of entities that have considerable wealth and assets in them, if you and your husband don’t OWN those items, then at divorce time, neither will get them. You stick with us; we’ll help you figure out a few ways to do that, and then you can decide which is the best way for you and your family.

Next caller: Is there an age limit for a self-directed Roth IRA?

RayRen: No. There are some other requirements, such as earned income. With a regular IRA, you have to start taking distributions at age 70. You do have a five-year waiting period on any gain from the principal in the self-directed Roth IRA.

Caller: I already have a corporation sole and several trusts set up, and all my assets are in the corporation sole, so perhaps I don’t need a self-directed Roth IRA…

480 caller: We have a seminar today on wills and trusts. I have a question about a trust. Is it common to have an individual trustee and also an institutional trustee? That allows the bank to deal with your trust, and I don’t get the feeling we are keen on that.

RayRen: It is common, yes, but we don’t recommend that route.

Caller: Then in the seminar they talked about a trust-like structure around the IRA. I work for one of the Big Four banks, and this came up. What do you think?

RayRen: I haven’t heard anything about that. Do you have some literature on that? I would like to see the details, if you could send them to me.

Caller: They will be sending those materials out in a week or so, I believe.

Closing Statement

The key thing about training, studying and learning is that through repetition it is easier to take the information in. Especially with the self-directed Roth IRA, after members have heard me talk about it four or six times, the light came on. Some have now taken advantage of that light to create a useful plan.

Let’s just glance over this list of things we need to make sure we have in mind:

VERIFICATION: Make sure the bank will verify the currency on site, rather than sending it off to another location, because if they find something wrong with the currency, they will take it out of your account or (if you have spent some) demand it back right away. We don’t want an experience like that. You want them to verify that the currency is legitimate and real, and how many pieces you are leaving with them. Verification will give you peace of mind, knowing that when you leave the facility, you are done.

NEGOTIATION: Ask for what you want; don’t settle for whatever they feel like giving you. Let’s say the buy rate is $4 and the sell rate is $3.69. Your negotiating skill will determine what you actually receive between 4.00 and 3.69. If you don’t ask, you will not receive. One price is based on whether you open your mouth, and the other price depends on your not opening your mouth. The bank is not doing anything illegal; you just didn’t ask for a better deal. Negotiate everything; the worst they can say is No. This is business, and business always means there is room for negotiation; it all depends on what you are representing. If you are representing a great deal, you have more leverage for negotiation.

DIVERSIFICATION: We’ve been taught this with investments, to spread it out so that if one thing goes belly-up, you don’t lose everything. Put your money in a number of banks. You will see the writing on the wall long before a bank fails. A stronger possibility is that the bank might not want you as a customer any longer, and gives you 30 days to find another bank. Now, maybe you’ve been with one bank for decades, with multiple accounts paying bills and such, and you don’t want to scramble to do that.

POD means Payable On Death. Let’s say you do your exchange, whatever the amount. You’re so excited, you can’t see straight; you leave the bank and get run over. What happens to all that money? Yes, your next of kin will get what’s left after paying debts and such. If you have a POD, the account passes directly to the person you have named, without probate.

PIF means Pay It Forward: ten days after the exchange, we will each do something benevolent for others.

Asset-protection entities – non-permission-based tools are the best ones, in my view. Find out about 501c3 that are non-operating. You hear about operating 501c3s all the time. Unless you know a great deal about non-operating enties, that should be on your list to add to your portfolio.

Self-directed Roth IRAs should also be on your list.

Debt-reduction strategies are also important, no matter how much you have in the bank. Even at a big level, you need to handle your debt properly.

Go to Municipal Bond seminars; learn about the advantages and pitfalls. The same is true for Annuities; how much do you really know about annuities?

Also check out Private Living seminars; many wish to live privately and some know how to accomplish that while others do not.

Banking seminars – there are 13 locations setting up seminars where, immediately after the exchanges, banks will come to present their various offerings and investments.

There is a big carrot being dangled right now is the 800 numbers. This would lead one to think this is the ultimate Hail Mary. It could be, but it could just be a convenient way of expediting the exchange… like expediting getting a passport. Using an 800 number doesn’t guarantee you will get the best deal. If I am given 800 numbers, I will send them out; however, it’s just a convenience. I will also post the list of 53 banks and credit unions that accept the Iraqi dinar TODAY. So I will consider the 800 number source #54, so you can pick and choose where you want to exchange. There is no rule saying you have to go to an exchange location in your area. We do have some unwritten rules that we adhere to: shop, find the best deal, and move on it, even if that best deal is on the other side of the US from where you live.

That’s pretty much it. I don’t have any new information of real substance. Something that could be important tomorrow is the Supplemental Budget; this was supposedly to be introduced at the end of the month. Intel is now saying it may possible be brought out tomorrow, Thursday. For right now, we have to play it out, wait it out.

RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA

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