Highlights of TNT conference call. Updated as the call progresses.
Ray: Nothing changed on the US side. Banks still waiting for someone to give them the green light. One or two asking us what the hold up is. LOL!
In Iraq, demonstrations cancelled for today. Saturday still scheduled for the big historic meeting. Citizens have new cards/rates. . . just waiting on it publicly.
CURRENT WINDOW: Ray: The last I've heard from across the pond is projected target by the 1st. They want this done by the 31st. I'm not looking for any information prior to Sunday night or Monday morning.
IRAQ: Citizens have been told on the 27th prices will be changed. Unknown if that will be done to appease the citizens or a reflection of a currency rate change. Ray: Iraq has not told us they will RV their currency, they told us they were going to change prices. I am not hearing anything about this going down this weekend.
- Demonstrations: cancelled for today.
- TV Mosques
- Rates: Banks sources say Rupiah in the $1.05 range.
- Banks: Wells Fargo will not be the only bank exchanging ZIM. Ray is not sure all banks will do it but that WF will not be the only bank exchanging ZIM. Some ZIM notes have the word "check" printed on them and they will not be accepted by the banks for exchange. Ray: Don’t buy ZIM notes with ‘check’ or ‘cheque’ written on them.
- ZIM: Ray: I know one bank aggressively saying they will take the ZIM. Whatever you bring to us. Millions, trillions. Theory of removing the Zero's - JUST AN EXERCISE: Ray: . . . with that theory 100 trillion note reduced to 100 million, but 500 million note stays as 500 million. Ray has no new information on a ZIM cap. Mentioned over a year ago they told us there would be a cap and structured payout.
- NDA exists for getting a contract rate and in the past was between the exchanger and the government. Now Ray is hearing the banks are having their own NDA's. Ray: I have heard of others who have and that was said NDA's were being signed from disclosing the activity took place (on private exchanges.) READ BEFORE YOU TO SIGN!!!
EXCHANGING: Ray: Here's a thought... go in and ask for whatever you want... not what you're hearing people saying... then negotiate from there
Q & A:
Q. - No trust at time of exchange. What to do? Use bank temporary trust? Ray: If you use the bank’s trust structure, definitely use the POD (payable on death), if that is an issue for you. It would be for me. If I exchange in my personal name and plan to transfer to entity accounts, and if something happened to me in the interim, I would want to make arrangements to avoid probate, etc.
Q. -Hearing banks provide "shelf trusts." Do those exist? Ray: They do exist through the banks, so ask them about that.
Q: If you were going to buy ZIM today, which series would you purchase? Ray: 2008/9, series AA or AB.
Q. - Will de la rue machines be at the exchange centers? Other authentication? Ray: If they don't have means to authenticate I'm leaving. Verify right then before I leave. Some banks saying, "Oh, yes, we will authenticate on site." Put that question to them when you call for your appointment. Subsequent caller reminded us a "black light" can be used to check your currency.
Q- Gift my grandaughter? Ray: I would ask the IRS directly about gifts to minors. They can answer those questions for you.
Q. -age limit or requirement for anyone going in to do an exchange? Ray: If there is anything requiring a contract, then the person has to be of age to sign a contract and get the contract rate. There is no contract involved in a simple exchange.
Q. - I have heard that Chase and other banks were paying off their houses and cars as an enticement… have you heard that? Ray: I haven’t heard anything about that, although some members say their second mortgages have been eradicated for some reason.
Q. - Do you think this will kick off when Obama is out of the WH? Ray: Based on what? Who said that. Just a blanket assumption. The nation on the verge of exploding. They want corruption out of their government. For conversation sake, go with November. Even if we went to Nov., look what citizens over there going through. Think that melting pot over there can last ill November? They were on the brink of going in the Green Zone. Think they can keep that up going into November? Drag it out until the President of the US leaves office? I don’t think so. This thing will be over soon.
Q. - Shelf Trust? Bank in control? Move my money? Ray: I'm not sure. Read a little bit on them where supposedly your still in control. You want to get all the pro's and con's on it. I don't know enough about it to speak against it or for it.
RAY’S CLOSING STATEMENT:
Going to wrap it up for us. Today is Good Friday. We still have the dilemma. Are you looking for private or public activity? I'm not looking for any information prior to Sunday night or Monday morning. Still don't think it will pop out . . . I'm not looking for any public release information before Iraq does what they will do for their people.
We wait to see what happens from big historic meeting Saturday and price change Sunday. Price changes on Sunday says to me, look out for an RV. Not looking for it prior to them changing prices. If it has different purchasing power means it has been RV’d to a higher rate. If they change the prices drastically enough, that indicates the value of the currency is changing too, so look out for the RV. Let’s see where we are on the 28th, which is Tony’s birthday.
Over here bank folks excited. Could happen any moment as well, although I think it will be for the private groups and individuals, not for the public. I’m okay either way, so long as this gets wrapped up. It would be neat if we could start a new life, new quarter, new everything on April 1st. Maybe not April 1, that would be April fools day. Hopefully done by March 31st. How about that? So let’s hope it’s here by the 31st.
In the mean time, in between time, the four letter word you’ve become accustomed to. WAIT. Until then, we continue to wait.
If there is a reason to reconvene, I will tweet, text or email you. Until then enjoy Good Friday and the weekend before us. Happy Easter everyone! (played “I Believe”) https://www.youtube.com/watch?v=9DYrqOUKLtA