Highlights of TNT conference call. Updated as the call progresses.
Ray: We don’t have any exciting updates. There were some calls for the RV over the weekend. My sources did say that testing has taken place over the weekend. The banks have been told it's coming. Why would they do testing if it's not going to happen until November?
I know many of you heard other things, about the RV being released and 800 numbers going out. This is what my sources have said, though. If the groups have 800 numbers, they are not even letting that out to their members. If they had 800 numbers, we would have them as well.
CURRENT WINDOW: Ray: I feel that it’s this week, with the tests on the weekend.
IRAQ: Iraq’s status is still the same. Parliament is to return on Thursday. Sadr, the driving force behind the demonstrations, is supposed to give a televised speech today. March 18 was supposed to be a deadline.
- Demonstrations: Friday there was a peaceful demonstration where they marched TO the Green zone. There was no violence. They have not yet gone into the green zone but they are planned to do so.
Green Zone is the safe area in Baghdad where the GOI is located and many of government officials live.
- Rates: The banks are saying ZIM notes of all denominations are to be exchanged.
- Banks: Ray has not heard anything about the release codes having an expiration time. Ray: Banks over here are just as frustrated, from what I’m being told. They had indications looking for the weekend, and now for the first part of this week. Some are almost at the “I’m fed up with false alarm stuff”, and there are rumblings. They may resort to some other measures besides spending money getting people lined up.
- Interest Earning vs Non-interest earning accounts to deposit into: Ray: With an interest-bearing account, your money makes money and with NIB accounts it does not. I don’t see any advantages to an NIB account. IF there is a banking person who can shed more light on this? If so, please email me at RayRen98@aol.com.
Q & A:
Q. – What do you say about the rumor that it will be extended to November after the elections? Ray: Let other's present what backs up their position about November. People don’t run tests for something that’s not going to happen for months.
Q: Last month you talked about an RV by a certain date. Ray: No, I said that the memo said the rate would change, and it did change. We naturally assumed that there would be an RV as well. But they did go from 90 to $1.05 on their currency over there, and we had rates change in the banks here, but we still could not act on it.
Q. Is there any information you were told not to tell us about in the past that you are now able to tell us? Ray: No, some things are still in ‘don’t say anything’ status.
Q: Are fils and lower denominations being used freely in Iraqi markets? Ray: I haven’t asked that in a while. They won’t be worth much until the RV is released.
Q. - Can I sign an NDA for one currency and exchange the rest at international rates. Ray: Yes, you can, but why would you do such a thing? If I sign an NDA for one, why not take the contract rates on all of them? That’s what I would do. I don’t see the reasoning for taking the contract rate on one when others are available at contract rates.