- Banks will now pay 18% interest on deposits
- TV Mosques
- Rates: Ray said the rates change often from one bank to another and he does not know who is saying what rate. That he could check with five different bank sources and get five different rates. Ray: I believe rates on screens are placeholder rates.
- Contract Rate is still out there.
- Exchanges: Ray says he has confirmed exchanges took place last year.
Highlights of TNT conference call. Updated as the call progresses.
Ray: Cards have been received in Baghdad . . .
started filtering out on Feb 1-2, but no information on the new rate.
Ray: I anticipated still being on this side of it today . . . based on the information I did not receive yesterday. Not a lot of new intel from Monday's call . . .Update since information is an extension of what was out Monday. Think all of you have heard about interest rates in Iraq.
Cards have been received in Baghdad but not at the new rate. Somewhere in the $3.40ish range I think we can plan on. That is over there but I think it will prove to hold here.
Rumors yesterday exchanges were taking place, but I could not find any indication of it.
BANK MEMO: Ray said he had not seen the memo but others he knows have and therefore he did not see the need for himself to see the memo.
TIP FOR THE DAY: Ray: Keep your eye on the dong. We may just have a leveraging situation. (This sounds like the dong may come out first so the exchanged monies can be used to buy other positions.)
CURRENT WINDOW: Ray: We have not reached the date specific on the memo that exchangers received in Iraq and some banks here in US, starting anytime from now until "X" date. We have not reached "X" date yet. We wait day by day, poking along. If we reach that date and nothing has happened, then it may be a cause for concern, not alarm.
IRAQ: Ray: Banks in Iraq now offering 18% interest to depositors. They have cards on the old rate and some received salaries they had coming to them. Some people did get back pay that was due them. Ray: I call it the trickle effect. Still some unhappy citizens over there. Slow progress.
UNITED STATES: Ray has no opinion on the effect the stock market would have on the RV potential. Ray: The last few years calamities have to let RV happen or world would explode. It didn’t happen and it didn’t explode. Don't know. Just waiting on it.
Q - Will DC return after this happens? Ray: I will check with him and see.
Q - Senior statesman still actively involved. Ray: Yes!
Q - Now that sanctions have been lifted, won't it be in the best interest of the banks to change the rules pertain to the Rial. Ray: Yes and they will be in time.
C: Wealth manager told me this is a fraud. Ray: Ask him if he'll sign a statement to that effect and put his mouth where his reputation is?
Q - 800#'s? Ray said they have not been told they would not receive 800#'s and lately not been told he would receive them.
Caller: I have two sources at two banks. One is at BA and another at WF. They tell me this is real and going to happen.
Financial Structuring: Ray: LLC basically for business applications. LLC tooll cannot provide lifestyle living for me. You don't want to have to deal with probate, inheritance tax, prenuptial agreements. trust take care of all of those. Don't believe you can do that with an LLC. If you set it up that only blood line relatives can be Trustees now you have protected it against in-laws.
RAY’S CLOSING STATEMENT:
Still some expectations, anticipations out there. I do believe there is a scheduled time for this to happen. Don't know when it is. Just going to relax, sit bak and wait on it. In the meantime if there is an opportunity to leverage yourselves, I'd take advantage of it.
Anything else you see that needs to be done, take this time and get it done. If banking questions, call them. They can tell you. Any kind of structured payout, disability, take this time to find out what will affect your benefits. Do it know to learn these things. Don't wait till it's RV time. Take advantage of this time now while we sitll have it.
One day you are going to wake up and receive a tweet from me and it's going to be "Showtime." The curtain is moving and you need to be on stage and the curtain in place. Don't be caught. Be ready so you don't have to get ready.
Next scheduled call is Friday. Very much not like to have it and would not mind if any time between now and then we have an unscheduled call. Any minute, any time of day still . . . Time will tell all and time will tell that as well. So we wait. We hold on, we hold out. I report, you decide.
The one thing for certain for me, when I first learned it was going to happen and then when I learned it had started taking place and was happening and even when I get to learn it's already happened and all said and done these two words with with me from the beginning, "I Believe."