TNT Call notes 9-December-2015
RayRen: Good afternoon, TNT family! Today is Wednesday, December 9, 2015. Today, there is just ONE of us on the line – little old me! The challenge is to get the recording on, because I think this is one that members will not want to miss due to the educational content. So this is an inconvenient moment… we want you able to refer back to it. I’m excited about today! Let’s see if I can now recapture… it’s a bit tricky when things happen that you don’t expect. You’re liable to fly off the cuff. Bear with us while we re-acquire everything. Talk about multi-tasking. What an interesting day…
Welcome to the TNT super-fantastic call on When Am I Gonna See It Wednesday and also Wealth Seeking Wednesday. We don’t have a lot of new information, although everything is moving along, everything is positive. We just don’t know how long it will take. Progress is being made. Banks are getting excited, and members say they have appointments coming up… mostly to plan rather than exchange, but they are bringing their currency just in case. This is a different place than we were in last year, with more expectation moving us forward. Some currencies with no value a year ago now have extreme perceived value or even real value as people have leveraged them.
Any hour, day or week… that is where we are as we hear things popping up from different sources. We are in progress, especially with people’s appointments coming. We just wait. Things we expected on Monday and Tuesday haven’t developed yet; just hold out and believe it’s coming.
Let’s talk about being ready. Prepare yourself for this life-changing event… not just for going to the bank, but more for the lifestyle changes that are coming. We need to prepare ourselves for the actual minute/hour/day they can process the currency, and be ready for that. I spoke last time about POD in case something happens before you can move the money to where you want it. Also, we were told that two photo IDs might be required, so make sure you do that now, not at the last minute. Make an inventory of your currency – know exactly what you have, the denominations and currencies. If you have combination of denominations, write that down so you know what you’re working with.
Some other things to talk about might include DIVERSIFICATION. That should be foremost in your mindset. Most are taught to diversify from the investment standpoint, but also diversify in your banking activity. Don’t put all your eggs in one basket, because the bank might decide to shut down your banks and send you down the road. I would diversify with banking so that if you fall out of favor with a specific bank, it won’t affect your lifestyle… which should be as diversified. That goes along with asset protection.
Also think about lost opportunities. Most of us have not be taught that in college or in life. Learn about lost opportunity and the impact that has on you. AT exchange we will be all excited, and of course with all this money we want to save others, pay off debt and buy cars, boats, etc. WE have to look at how we go about doing those things. You need to treat your exchange process as principal. You want to let the principal create interest and live off that interest. That also applies to paying off debt and buying new items. When we have the money, we like to pay cash. Let’s say you want to pay 10K for something; what could that 10K have created for you as a sound investment creating a nice cash flow. Compare that to what you could buy with that 10K, and decide whether to pay cash or not. That would especially apply to buying a house: if you pay cash, there are no payments, you own it free and clear. However, that 100K or one million might be invested somewhere to create income. You don’t have that 100K anymore, because that is tied up in the property. Let your professionals help you work all this out before you decide on a direction: should you pay 100K cash for the property or take out a low-interest loan and put the 100K to work for you. Let’s say you can make 6% on the 100K and you take out a mortgage at 2%. You are making a net 4%, and over time the mortgage is paid off, and meanwhile you are making money with the cash you would have spent. These are all things to consider. Rely on those professional people like wealth managers, private bankers, CPAs and strategic planners that you will be paying anyway so that you can make the best choice the first time rather than having regrets further down the road.
Lets’ also look at the RV time… time to go to the bank and do your exchange. For some, the first, second, third mouse scenarios may be prevalent. Do you go exchange a few small notes first because you need money right now? How have you been taking care of your needs up until this moment? It’s probably been sitting and waiting just as you have, so it may not be a true need but a convenience or something you want for instant gratification. How much money do you truly need? Some have actual pressing debts. Is that tens or hundreds of thousands? For most of us, it’s just a few thousand, so it might be better to negotiate a small loan instead of exchanging at a lower rate.
Another area to consider before ‘show time’ is … call dropped… came back! We don’t know if these exchanges will be taxable or not, but there are certain tools so that at least some segments are not taxable. One is the self-directed IRA or retirement account. You put, say, $6,000 in every year into your IRA and you can deduct that from your income taxes. That is a tax-deferred plan; you only pay tax when you withdraw the money. In a ROTH IRA, it’s the opposite – the initial payments are not tax-deductible, but you don’t pay tax when you withdraw the money later. The self-directed Roth IRA means you can invest those funds in whatever you deem necessary; you make the decisions. What would be a good thing to invest in with those qualified monies? Foreign currencies! Members have been doing that, accumulating currencies that will be exchanged and at the appropriate time you will receive the funds. There are technical mechanism to do that including using management companies. It’s a good Plan B for a tax-free program.
Hopefully these points will help you as you get ready or BE ready so you don't have to get ready. Let’s go into Q and A…
703 caller: I’m now rethinking my plan because my daughter has been saying similar things to me. I’m older and don’t want to have debt, but she’s showing me that there can be ‘good debt’. The old site was supposed to go static when this goes; this new site, will it still go static or will it stay live now that you are running the site?
RayRen: That part of the plan will still probably be the same. Even though there is new sheriff in town, this sheriff will still be riding the same stagecoach.
Caller: Will there be 800 numbers or will it be shotgun?
RayRen: We are still waiting on that – we don’t know what they want us to do to assist them. We don't know any of the details, lead time, or anything else.
Caller: They’re doing a good job of keeping us in the dark but we are educated enough to go either way. [Appreciation] Vegas, Vegas, Vegas!
602 caller: I’m impatiently patiently waiting, as the song goes. In reference to the banks loaning on currencies, are all banks doing that now?
RayRen: I didn’t say that, I meant just taking out a loan. Let’s say you are at the bank, and you say that you intend to exchange with that bank, and soon this currency will be worth millions. Meanwhile, you have about 5,500 worth of bills to discharge. What can the bank work out with you? We know of three members who have new vehicles based on the perceived value of what is to come, based on verbal contracts. That is pre-RV, and when you go in post-RV, there will be no question of the value of what you hold. If you tell that bank that they have your business, and in the meantime you need some cash flow, then possibly you can cut a deal.
Caller: Is there a new window?
RayRen: There certain information that we tried to share on Monday and Tuesday, because we figured it was in the public domain. It wasn’t from our team, and I didn’t subscribe to the bond intel anyway, but as my window is already ‘any time, any day’, so I don’t see there being a NEW window. I would be inclined to expect this before the tariffs kick in on the 15th. That would be nice; if it's already in progress, why wait until the 15th? I’m on a day to day basis, looking forward to this today, tomorrow. I support any day.
Caller: [Appreciation] Vegas, Vegas, Vegas!
646 caller: I presume everything is pretty much in good order…
RayRen: Last we heard it’s all status quo. We are waiting.
Caller: Let’s hope we get this before Christmas.
RayRen: I’m highly optimistic. Let’s count on that.
941 caller: So basically we are where we were the other day.
RayRen: Moving along, waiting for something good to happen. To my understanding that rates are about the same as they have been, although some are quoting other rates from what they’ve seen on bank screens. We have not heard of anyone holding this up; it’s a progression and no one is interfering so far as we have heard.
Caller: so the banks are taking whoever they want?
RayRen: There is a progression, and it is going through the last progression. No one has given us specific details on the step by step process. All we can rely on is what we are hearing, that the RV is in process. A year ago, we weren’t told it was in progression. The only thing similar to last year is that they both have Decembers. Don’t hold onto the past; look to the future. Let’s be ready for what is about to take place. My plan is to wait. It’s coming down the pike and I’m holding on for that.
707 caller: One question from my group is whether there is an expiration date on the zim.
RayRen: I haven’t heard anything official on that. There were dates in the past and when we went past them, Zimbabwe extended them.
Caller: I set up accounts at my local WF; they don't have any interest in exchange now. I’m thinking San Francisco might be a better possibility.
RayRen: I feel 100% sure that when the time comes, those same banks will open their doors and extend their arms and welcome us in.
Caller: Thanks for the tips at the beginning. [Appreciation] Vegas, Vegas, Vegas!
719 caller: I’m a lady-in-waiting… from the Twelve Days of Christmas. You aren’t saying much about Iraq – have they done everything? Are they waiting as well?
RayRen: On the last call Iraq said that the RV has begun and it’s trickling out. I don’t know where it is on any given day, or what they need to do to change the value of their currency. They are implementing it, however slowly. There is not a lot to share; it is in progress. It’s moving and I’m good with that.
Caller: Everyone says that, and not to be cynical but we’ve been hearing similar statements for probably a year and a half. It’s happened in April, we’ll have a great Black Friday, a terrific Christmas… it feels like every time we go near the food bowl, we get shocked.
RayRen: We hear certain words and take them to mean the meanings we perceive them to have. It can be the communication is not linking up from person to person; we need more information and sometimes that information is not available. We can look back at those dates and see some truth in them, but we want the totality – the results. In my view, anything moving is better than not moving, but some of you want it all to be done, completely done and at the bank. It’s not there yet. The process is underway, but along the way there are little things we had not accounted for and those are now taking place. It’s the peripheral things and we are looking for the totality. The bank called and said “We want to talk about something that is going to happen”; we didn’t have that a year ago or even six months ago. Banks are sending limos for their clients to come in and have a conversation. Those are big pieces to show progress is coming. We just don’t have the whole deal yet – at which point the little pieces will be unimportant. Banks are paying overtime to their personnel – they don’t like doing that, so it’s significant. Things are happening! We just don’t know the whole timeline. When the banking people say they are working until 11pm or told not to take vacations, that is all important and they indicate things are taking place that were not happening 12 or even six months ago. So no one can convince me we are in the same place as we were a quarter ago – we’re not!
Caller: I hope you are right and we get this before Christmas. We all want to pay it forward and to plan for the holidays. Some people I know are not planning to have a holiday, and it’s a bit discouraging. I hope we are all done.
RayRen: Just keep holding on! It’s time; I get caught up speaking with you all, and giving what information I can to get you through the day. We need to sign off. Thank you to many members who already answered the call. When you become the new sheriff, you take over the debt as well, so thank you for everyone who has donated. If you haven’t, come on! Let’s all help out so that we can take care of the things here that need to be taken care of.
When will we see it? We don’t know; time will tell. Keep holding on and we will be here with you. Hopefully there will not be a call on Fantabulous Friday, but if there is a need, we’ll be here to help. Take care and have a good evening.