- CBI site was down this morning. Unknown if there is any relevance to that.
- Rates: ZIM: Recent exchanges were offered .02, 03 and .06
- 800 numbers: Ray has no official information or communication yet.
- Exchange Centers maybe a bank building or another facility set up.
- Back Window: Ray said he would let us know when/if we get there.
Highlights of TNT conference call. Updated as the call progresses.
Ray: What a MARVELOUS Monday it is! Change is not coming it's happening! That will be the reference of today's call. No screaming and hollering at the banks just yet. But, were the expecting us?
WEEKEND REFLECTION: In Iraq expectation of the cards to be issued. We learned over the weekend most provinces were being taken care of - however slow. don't know the percentage of done. Cards have been issued. Payments made, some for January.
Item#4 - MEMO from Rafidian Bank stated smart cards are to be International immediately. Now it's Feb. 8th without receiving any recanting of that memo and some citizens have already confirmed the nationality of their card.
USA, Item #5 - NEW MEMO . . . came from top corporate down. It was the banks memo to their staff . . . went out to banks on Saturday stating they would initiate exchange activity on Monday and be prepared to work long hours. Confirmation other banks have received this memo as well. They were expecting to be processing quite a few of you.
CURRENT WINDOW: Ray: My understanding they are in a big time conference right now trying to understand why they are not processing people right now. There were BIG expectations to process us today.
Ray: We have not reached the date on the first memo. We are still within the date on the memo.
It's happening. People are exchanging. Some rejected the bank offers. Left $2 million dollar deals on the table. They knew about lost opportunity (Tony would say "1st cheese"). Three folks were offered with conditions and said "Thank you," but "No Thank you." They rejected .03, .02 and .06 on the ZIM.
You got to know how to play this game because they are going to play it. Can you dribble it and control that ball. When you go in plan to negotiate.
This is a business negotiation. Remember they work for the bank. You have to protect you.
IRAQ: Is the currency International? Ray: We believe so for all intent and purposes.
Q & A:
Contract Rate: Ray could only speculate why the bank might not want you to have the Contract Rate. He suggested a higher rate might have a lower commission for the bank.
CAP's: Ray only knew of a cap on the contract rate. Anything over $1 billion would be a structured payout over 20 years. No new information on caps.
No Trust. Put in DBA or NIB? Ray, Yes, choose for the right reason and know why you are doing it.
Separate accounts for separate currencies? Ray: Yes, you can.
What qualities or expertise should a Trustee have? Have no other family. Ray: I'm sure in your life span you will find someone you will deem appropriate to handle whatever your leaving behind.
When someone purchased currency for another person? Affidavit or gift letter? Ray, don't see how you could do a gift letter. They gave you the money to buy it. An affidavit can be completed two years later.
RAY’S CLOSING STATEMENT:
Still marvelous Monday. Anything could happen. Meetings taking place. Some expectations out here for us to be excited about.
Change is not coming. It is happening. . . NOthing we can do to have any impact on what happens. Hopefully, we won't be here Wednesday with a call to update you. Looking forward to the next call being THE call. That is what we would like to happen. I can't make it happen or keep it from happening. Still marvelous Monday. Anything could happen. Meetings taking place. Some expectations out here for us to be excited about.
Change is not coming. It is happening. . . Nothing we can do to have any impact on what happens. I would rather be in a situation instead of looking to throw sticks at where I’m at in life. Much better outlook.
With that being said, hopefully, we won't be here Wednesday with a call to update you. Looking forward to the next call being THE call. That is what we would like to happen. I can't make it happen or keep it from happening. I can only wait on it to happen. That's easy for me to do because I Believe. - played the song.
After the song: Ray: Yes, excited about our future.