Highlights of TNT conference call. Updated as the call progresses.
Ray: Two different sides of information we are receiving kind of conflicts with one another. In Iraq Abadhi announced Parliament would be back on Thursday. Citizens saying if not done by the end of March they intend to break into secured areas. Speculative that Friday's sit in has been cancelled. . . That would take us to the 27th, Easter Sunday.
IN USA: Banks received notification this morning. Looks like they are on the verge of expecting something soon. Maybe today or tomorrow.
If look at Iraq side of things would not expect to see something until March 28th.
CURRENT WINDOW: Ray: Based on their plan . . . would take us to the end of the month. Or the day after. End of the month is next Thursday. I'm not looking for the RV until the 27th - 28 and still have it done by the end of the month.
IRAQ: Saturday is expected to be a big day, historical meeting, with visitors coming. Prices to drop after the Saturday meeting, on Sunday, Easter, March 27th. An impending rate change would drop the prices or the price drop could be to appease the citizens. Ray: My opinion is Iraq is the deciding factor. No way we can look for an RV for us until they are happy. . . some still waiting for payment . . . for back pay.
- Demonstrations: Citizens still camping out. Friday's sit in may or may not have been cancelled. There are conflicting reports. There are 400 US marines in the green zone for security. Ray's opinion is the level of protesting will begin to decrease.
- TV /Mosques
- Tragedy in Brussels: Ray does not think that will affect the RV.
- Rates: Dong: mentioned on the call at .47. ZIM: Ray has not heard there will be any minimum to the ZIM to exchange. ZIM tied to historical bonds? Hold till they mature? Ray: If it is to be a historical bond then what you ask might apply. Still out to lunch on that one.
- Banks: received another notification this morning. They are mobilizing and getting ready. We are awaiting the banks having permission to use the release codes. Ray: Banks received notification this morning. . . on verge of expecting something soon. Maybe today or tomorrow. . . . won't talk or share information. On the hush-hush. Last couple of weeks they have just been zip. I am not exchanging at a local bank. Going out of the city for that.
- 800's are supposed to be part of the private groups and not the public.
EXCHANGING: Receipts have not been needed at any of the exchanges Ray has been privy too.
Q & A:
Q. – Rates on the cards? Ray: Not to my knowledge.
Q. - Has authorization been given to the banks to use the release codes? Ray: No, not yet.
Q. - Exchange in home town: Ray: I've always been a proponent of going to your neighboring town to exchange, not the one you live in. People talk. The smaller your geographical locations, you have to take that into effect.
Q. - My son says we're obligated to put 80% into humanitarian purposes and have a business plan. He's in a group. How do you get a business plan? How are they going to make sure you do this? Ray: You need to shoot these questions through your son. I've not heard anything like that for you to do an exchange. Some groups are doing special things, but it is not a requirement for the rest of us.
Q. - Ray: Ask the bank when you make your appointment. I don't see why not.
Ray: I heard that but I don't know.
Q: Which currency would you purchase to give special friends $1M each? Ray: Dinar, $1,000 per million. Dong: $50 per million. $80/per million for rupiah. Do the math and pick the one you want. Look at each one, what it costs and go from there.
RAY’S CLOSING STATEMENT:
Banks getting notification this morning and making moves to do something. I do not know the notification they received but they are maneuvering. Not just sitting complacent.
On Iraq side, having big to do meeting Saturday. Change prices on Sunday. To me that follows the line of a rate change to appease the people or to compensate for a rate change in the value of the currency. Wanted it done by the end of the month.
Sound dropped off.
Ray: We stand by ready. Will Tweet anything happens.
(I have to run. If there is more info I will post after lunch. I will check the notes when I get back and listen to the replay to post Ray's full closing remarks. - Sunny)