TNT Call notes 19-February-2016
[TNT Rap]. [audio checks]
RayRen: Good afternoon, TNT super-fantastic family! Today is Fantabulous Friday, February 17, 2016. We are moving right along into this process. If you received the tweet, you already know the deal: no new intel, but possibly some light training.
From Wednesday’s call there was a plethora of information. Since then, there has been some acknowledgement of the release of codes, and we have had reports from multiple banks now. That first confirmation was from one bank and now it seems there are the codes at all the banks. We are still looking for more confirmation but I believe that is in effect. Some banks are looking for Monday, some putting it out as far as Wednesday. That is what they are thinking, from their point of view.
From the Iraqi point of view, I’m still waiting for intel to come in from across the pond – that by this time they have it. That would be the most releasing information for this morning. Before, we did calculate that the rate is $1.43 over there, although it’s not 100% across the board everywhere. You will recall the training on the first mouse, second mouse, third mouse; that idea seems to be showing up over there as well. Some info sources over there are saying $3.41, but our citizens over there are only saying $1.43 at the moment. All that information can change, but either way it is progress, and it’s better than nothing.
That’s it for intel to share with you, so for intel folks, I’ll see you later! For members, let me look at some of your questions. We will take a few calls then wrap it up.
Q: Can you speak to some negotiating points at the appointment? It seems there may be different contract rates available; do you think that the rate we may secure may depend on how much we hold, more than how long and how much we leave at the bank? A: It’s based on both. It will start with how much you hold, because if you’re not a fat cat, you don’t have much to negotiate with. After that, the conditions you are willing to subscribe to – how long and how much will stay in that bank.
Q: Will we be able to renegotiate at the later WM meeting, if you already did your exchange? A: I don’t see how that would work.
Q: How would you manage a situation with a WM if your intent is to let them know that perks mean less than rates of return? Do you have a script or strategy in mind, or words of advice? A: Use that script you have there; tell them how you feel and let the chips fall where they may.
Q: How many have told you the rates from Iraqi banks? I am from Missouri, and I’m not getting anything here. A: You can always go over to Iraq and ask there. I can only tell you what I am receiving.
Q: Has there been an official announcement of RI in Iraq? A: Not that I am aware of. From what we hear, there is a new rate and so I guess there has been an RI.
Q: Would you recommend different accounts for each of your currencies? A: It depends on your reasons. We were told to keep dinar separate, but I don’t’ see any problem with all the others in one account.
Q: Do you believe this may be our weekend of jubilation? A: Yes.
Q: I have a child who bought currency with his own money. Should I exchange it for him, or set up a trust? A: If you are the legal guardian, you will have to transact banking business for him until he is of age. If you are not the legal guardian, you will not be able to do that, or if the child is old enough to do the banking on his own, he would do it himself or herself. I would look at maybe a trust account but not creating a trust entity for him yet; get a clearer picture of how the money might be utilized, and also ask the bank for advice.
Q: Was there a meeting held in Baghdad, and have you heard any information from it? No.
Q: In setting up trusts and foundations, do you set up one in the other? What provides the best protection? A: They are different entities for different purposes. One is an asset protection structure and one is an organizational structure (the foundation) that needs to sit on a foundation of a trust or corporate structure. All provide protection, depending on what you want. A foundation is a charitable tool, while the trust or corporation is not. You have to understand what each tool does and how to use each in your portfolio. Can an LLC have a foundation? I have never thought of doing it that way. Your foundation is something to set up personally. Look at the tools and how to network them into your foundation, not be the owner of that foundation.
Q: Is the $1.43 rate in Iraq only at this time? Are we still looking for an international rate of $4.31 when this rolls out? A: Yes, and yes.
Q: Any word on the dong rate? Is the zim still in the low one-digit range, minus six zeros? A: As I understand it, zim will be double digits. Members have been offered single digit rates, but I am looking for double digits. I expect that from the start from the public release.
Q: In interviewing wealth managers, what are the best questions to ask, and nonverbal cues? A: Basic questions: services, track record, whatever you’re particularly interested in and what they can offer you. I don’t have any particular list of questions or the best ones. If your WM is making investment decisions for you, you’ll want to know more about that person’s skill set, etc.
Q: At one time, it was said that if you exchange in a different state from where you live, you may be liable for their local income tax. A: As I understand it, your state of residence will tax you in any case. If you have business in another state, they may tax you on the business. I don’t see currency exchange as a business, but you can call the state tax bureau and find out for your particular circumstances. Call the State Department of Revenue and ask them!
Q: What is Item #1? A: It has to do with banking.
Q: Is there any truth to the idea that TRNs will be released to the US at the same time as the RV? A: I have not received any information that TRNs will be released into our pockets like FRNs. We’ll see what happens, but I haven’t heard that. The only info I have is that banks and countries will use TRNs bank to bank and country to country, and that is what I believe until I hear otherwise.
512 caller: When are we going to get this? Do you foresee any issues that could stop the RV in the next five days?
RayRen: No. I can’t think of anything. I don’t think it has been stopped; I think it’s in progress. I feel and believe it needs to be completed across the pond, then roll it out here at $4.31. They are seeing $1.43 there now, and if they see $4.31 over there presently, that’s even better.
Caller: Are we waiting for the Iraqi rate to change to what we expect -- $4.31?
RayRen: Yes, I think so. If they are cleaning house over there, it might take a few days to get to that rate and be released here.
Caller: [Appreciation] Vegas, Vegas, Vegas!
Next caller: I am waiting for a few people to release their currency back to me, and they say it’s in the mail, so… We’re there, ready to go! [Appreciation] Vegas, Vegas, Vegas!
Next caller: Just wanted to remind everyone these calls aren’t free, so go to the site www.tntsuperfantastic.com and make your donation today. Support this call so that Ton y and Ray don’t have to reach into their own pockets. You’ll be glad you did. It looks like everything is moving along. Can the banking people in the US actually see the rates?
RayRen: Yes, they can see everything that needs to be seen, they just don’t have permission to move on them yet.
Caller: [Appreciation] Vegas, Vegas, Vegas! North Carolina! Negotiate!
RayRen: You missed a great BBQ last week after the class. We went to our favorite BBQ place and had a great meal, family-style.
313 caller: What’s really holding this up from happening?
RayRen: It’s happening over there at their own time and pace; when they have concluded that, it will probably be our time.
281 caller: Blessings on your guys and let’s get this thing done!
347 caller: I have heard this twice since Wednesday, from Landa Global and from SWOMN, that after the RV button is pushed it will take up to a month to get to the people. Have you heard this?
RayRen: I have not heard that, and what people do you mean? Up a month to get exchanged, do you mean?
Caller: They said all the countries will have to be asset-backed and then it would get to the people to exchange.
RayRen: What is the 30 day part?
Caller: From what I understand, after the RV is done internationally, then it take a period of time for the process to go through all the countries to be able to confirm they are all asset-backed, and then it will come to the people to exchange, with asset-backed currencies, like us having the new USN or TRNs that are asset-backed.
RayRen: So what is the question you are asking me? I have not heard any of that, not from any of the sources that I talk with. Time will tell it all!
It’s Friday and we are starting up the weekend, living it up. If the bank calls and says, “we can do it!” we will let you know on our way back. We’ll check if it’s real first, and then let you know. The memos are there, the rates are there, they are just waiting on permission. I believe we are just waiting. Its still any minute, any day, and if we don’t get what we expect by Sunday, we’ll be here on Monday. Any time between now and then is a good time to bring this thing home. Until then I’m still believing. Enjoy your weekend!
RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA