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Tuesday, April 12, 2016

TNT:Notes after the recorded call: 4-11-16 by LadyB22, 12 APRIL

    • LadyB22 said
      12:37 PM Apr 11, 2016
    Notes after the recorded call: 
    I'M GOING TO OPEN A NEW ACCNT, PUT SOME MONEY INTO MY BROKE ACCNT TO WORK OFF OF. NOT TAKING ANYTHING OUT OF MY MOTHER LODE ACCOUNT.
     
    RAY: CALLER: DO I SET THAT ACCOUNT UP THAT THAT OR COME BACK? RAY: ON EXCHANGE DAY I WILL CREATE A NEW ACCOUNT FOR MY $10 MILLION ACCOUNT. GIVE ME A RECEIPT AND SEND ME OUT THE DOOR. i WON'T TAKE ANY CASH OR DO ANYTHING ELSE THAT DAY. I NEED TO DO A MIND ADJUSTMENT.
     
    THAT MEANS I NEED TO DO A "MIND ADJUSTMENT".
     
    IF THEY START TALKING ABOUT OFFERING YOU THIS AND THAT.... SAY, NO THANK YOU.... NOT TODAY.  I WILL COME BACK LATER TO DISCUSS THESE THINGS.
     
    OPEN BIG ACCOUNT IN AN ANONYMOUS NAME, You just need to tell the banker you want a blind account, so only you and your WM can see it. You do not want it used for training purposes.
     
    GETTING YOUR MIND RIGHT IS TAKING CARE OF YOURSELF. START LOOKING HOW YOU NEED TO ACT
     
    RAY: WE SHOULD ONLY THINK ABOUT TAKING CARE OF YOUR SELF. GO HOME AND SEE HOW YOU WILL ACT FROM THIS DAY FORWARD. YOU DON'T NEED TO DO ANYTHING FOR ANYONE ON EXCHANGE DAY. THEN START METHODICALLY THINKING HOW TO GIVE A CAR, ETC.
     
    LET YOUR HEAD COME DOWN TO IT'S RIGHT SIZE. IF I GIVE THE LADY DOWN THE STREET TO GO BUY A CAR $10K, I JUST GAVE HER A TAX BURDEN
     
    RAY: WHEN WE DON'T KNOW WHAT TO DO WE END UP DOING NOTHING AND SOME TIMES THAT IS DETRIMENTAL TO US. GET YOUR EXCHANGE DONE, LET YOUR BRAIN RELAX. TALK TO YOUR WIFE/HUSBAND.
     
    RAY: C: MAKE EXCHANGE, TAKE CARE OF ME, STEP BACK FROM IT, PUT IT IN AN INTEREST BEARING ACCOUNT AND I'LL BE BACK IN 5 DAYS. RAY: FOR ME IT IS INTEREST BEARING ACCOUNT. HAVEN'T HEARD ONE GOOD REASON NOT TO DO INTEREST BEARING.
     
    RAY: FOR ME IT'S INTEREST BEARING ACCOUNT.
     
    RAY: THE BANKS KEEP GETTING NOTIFICATION TO BE READY TO DO EXCHANGE.
     
    RAY: C: % OF PPL IN IRAQ THAT HAVE BEEN PAID. WE HEAR TEACHERS ETC WILL GET PAID. RAY: I HAVEN'T HEARD NUMBERS. BUT I THINK THEY PAID ALL OF THE CONTRACTORS. I KNOW SOME BUT THEY PAID THEM WITH BONDS INSTEAD OF DINAR AND TOLD THEM THE BOND WILL BE VALUED AT $3.47. TODAY THEY ANNOUNCED THAT THE BONDS WILL BE GOOD ON THE 15TH.  HUMMMM
     
    RAY: C: TRUSTS FOR PPL INSTEAD OF MONEY. IS IT POSSIBLE TO DO A TRUST FOR INDIVIDUAL AND YOU REMAIN AS A TRUSTEE AND THEM THE BENEFICIARY? RAY: WALK THROUGH
     
    For Example:  RAY/I'M A FRIEND OF YOURS AND YOU WANTED ME TO HAVE SOME MONEY
     
    RAY: I AM A FRIEND OF YOURS WHAT DO YOU WANT TO DO WITH TRUST? C: I OPEN A TRUST FOR YOU AND I WILL BE TRUSTEE AND I WILL SET THIS UP TO INVEST TO EARN INCOME, BUT WHATEVER INCOME IT RECEIVE, WOULD IT GO ME YOU AS A GROWN ADULT UNTIL I CAN GET THINGS TOTALLY IN ORDER AND TRAIN YOU TO BE TRUSTEE.
     
    RAY/WHILE I'M A BENEFICIARY I WILL BE RECEIVING $? C/YES. WHAT WAS THE ADVANTAGE OF THIS?
     
    YOU'RE TRYING TO GET MONEY TO ME, BUT WHY USE A TRUST TO PROVIDE MONEY TO ME?
     
    RAY: C: I WANT TO PROVIDE A STEADY STREAM OF INCOME. RAY: YOU CAN BUY AN ANNUITY AND MAKE ME THE RECIPIENT.
     
    BUY AN ANNUITY AND MAKE ME THE RECIPIENT. TRY TO MAKE YOU SAY SOMETHING YOU'RE NOT THINKING ABOUT. EDUCATIONAL CALL.
     
    BUY AN ANNUITY AND MAKE ME THE RECIPIENT. TRY TO MAKE YOU SAY SOMETHING YOU'RE NOT THINKING ABOUT. EDUCATIONAL CALL.
     
    RAY: THE REASON YOU SHOULD SET UP TRUST AND PUT ME ON BOARD, YOU WANT ME TO HAVE A SOURCE OF INCOME AND TAKE MONEY AND INVEST IT TO REPLICATE IT. YOU DON'T WANT ME TO BE THE OWNER B'/C THERE IS LIABILITY IN OWNERSHIP. I ALSO MIGHT BE CARELESS WITH A LUMP SUM OF MONEY.
     
    RAY: THE TRUST OWNS THE MONEY. I AM HIRED ON THE BOARD AND MONEY I RECEIVE WILL BE SALARY AND WILL RECEIVE IT IN INCREMENT. I AM RECIPIENT OF SALARY FROM THE LUMP SUM OF MONEY B/C THE TRUST OWNS THE LUMP SUM. I DON'T HAVE 100% CONTROL OF IT.
     
    YOU WANT ME TO HAVE $ A SOURCE OF INCOME. YOU DON'T WANT ME TO BE THE OWNER (LIABILITIES) MIGHT BE CARELESS. LET THE TRUST OWN THE MONEY. I'M HIRED ON THE BOARD WORKING FOR THE TRUST. PAY ME SALARY (RECEIVE $ YOU WANTED ME TO RECEIVE) IN INCREMENTS FROM THAT "LUMP SUM" OF MONEY BECAUSE THE TRUST OWNS THAT. I'M NOT THE OWNER AND DON'T HAVE 100% CONTROL OF IT. NO LIABILITY TO THE $
     
    RAY: I HAVE TO LIABILITY TO THAT B/C I DON'T OWN IT. N OW TEACHING CONTROL VS OWNERSHIP. LOOK HOW MUCH YOU HAVE DONE FOR ME.
     
    GIVING ME A CASH SOURCE, UNDERSTANDING THE CONCEPT OF CONTROL/OWNERSHIP
     
    RAY: IF THAT TRUST YOU CREATED FOR ME TO LEARN, IT YOU MADE THAT CHARITABLE TRUST, YOU WOULD GET A WRITE OFF. WHEN YOU KNOW WHAT TOOLS ARE AND WHAT THEY ARE CAPABLE OF DOING, THE SKY IS THE LIMIT.
     
    MAKE IT A CHARITABLE TRUST AND PUT YOUR MONEY INTO IT.
     
    RAY: C: HOW TO TEACH THEM HOW TO HANDLE MONEY. THEY DON'T UNDERSTAND. FOR SOME PPL IT WOULD DO MAJOR HARM FOR THEM TO HAVE A LUMP SUM.
     
    C: I OPENED ACCOUNT FOR EACH CURRENCY THAT I HOLD B/C WE WERE TOLD FOR TAX PURPOSED NOT KNOWING HOW THEY WILL BE TAXED. DO YOU THINK THAT STILL RELEVANT? RAY: THE SINAR WAS THE ONLY ONE WE WERE TOLD MIGHT BE TREATED DIFFERENTLY. THERE WAS ONLY DINAR AND DONG AT THE TIME AND TOLD DINAR MIGHT BE TREATED DIFFERENTLY. ALL OTHER CURRENCIES ARE INTERNATIONAL CURRENCIES ALREADY.
     
    OPENED ACCOUNTS FOR ALL THE CURRENCIES. RAY-ONLY USED WITH DINAR.
     
    THE REST OF THEM IN THE SAME BUCKET. C/EVEN THE ZIM? R/WELL, I WOULD THINK SOMETHING DIFFERENT MIGHT APPLY
     
    RAY: THE ZIM IS ANOTHER LEFT FIELD DEAL. IT MAY BE TREATED LIKE A BOND AND SOMETHING DIFFERENT MIGHT APPLY TO THAT.
     
    R/IF THEY AREN'T COSTING YOU ANYTHING, LEAVE THEM.
     
    RAY: C: I KNOW WHEN I OPEN DIFFERENT ACCOUNTS YOU HAVE TO REQUEST "ON LINE" AND YOU CAN REQUEST ACCOUNTS TO BE PRIVATE.
     
    C/AS FAR AS BEING PRIVATE, YOU HAVE TO REQUEST TO BE ON LINE
     
    JUST WALKED INTO A CHASE BANK AND THEY ARE ALL MACHINES. THIS IS WEIRD, THIS IS CALIFORNIA, THEY JUST PASSED MIN WAGE OF $15 AND THEY ARE ALL GOING TO MACHINES.
     
    DBA (Doing Business As) NEEDS A PERMIT? R/ASK THE BANK!
     
    RAY: C: IF YOU HAVE AN OPEN ACCOUNT SOMEWHERE AND WANT TO DO BUSINESS AS DBA RAY: NOW SOME BANKS REQUIRE YOU BRING IN YOUR PERMIT. THOSE PERMITS ARE $30-$60. CALL YOUR BANK AND THEY WILL TELL LYOU WHAT IS REQUIRED FOR DBA. LAST TIME I HEARD ONLY COPY OF YOUR LISCENE. THE BANK WANTS TO SEE YOUR PERMIT AND THEY WILL OPEN AN ACCOUNT.
     
    HAVE YOU HEARD ANYTHING FROM THE MOSQUES OVER THE WEEKEND?
     
    RAY: C: HEARD ANYTING FROM MOSQUE OVER WEEKEND? RAY: NO ANNOUNCEMENTS. JUST SHARED FROM PPL ON THE STREET. THE ANNOUNCEMENTS WE ARE WANTING TO HEAR WILL BE LATER TONIGHT. I HAVEN'T HEARD ANY OVER THE WEEKEND MOSQUE ANNOUNCMENTS.
     
    THE ANNOUNCEMENTS ARE WAITING TO HEAR WILL BE LATE FOR US TONIGHT
     
    RAY: C: TAX QUESTION. I AM OLDER AND HAVE A SON IN 40'S. YEAR AGO WENT TO BANK AND TRIED TO OPEN AN ACCOUNT FOR HIM. HE DIDN'T QUALIFY B'C HE HAD HAD AN ACCOUNT WITH SOME PROBLEMS, CHARGED OFF ACCOUNT AND COULD NOT OPEN ACCOUNT THERE. OPENED ACCOUNT AT SMALLER BANK AND HE GAVE ME GIFT LETTERS FOR HIS CURRENCY. I WANT TO USE BOTH OF OUR CURRENCIES TO GET CONTRACT RATE. IF I OPEN TRUST FOR ME AND ONE FOR HIM, I HAVE THE FUNDS FIRST IN MY ACCOUNT. TAX LIABILITY PROBLEM?
     
    RAY: NOT IF THE TRUST YOU ARE OPERATING CREATES YOUR SONS TRUST. RAY: WHEN YOU D YOURS AND JPUT ALL YOUR MONEY YOU OWN IN YOUR TRUST, YOU WILL HAVE TO WITHOLD SOME OF THAT MONEY FOR A TRUST FOR HIM TO OPERATE SO THAT YOU CAN BE GRANTOR OF SECOND TRUST AND PUT MONEY IN THERE.
     
    RAY: SON WILL HAVE TAX ON SALARY IF YOU DO IT RIGHT. SAY YOU HAVE ONE MILLION FOR YOUR SON. YOU PUT THAT IN A TRUST AND HE DRAWS A SALARY FROM THAT TRUST FOR PERSONAL MONEY. HOW MUCH MONEY WILL HE NEED? CALLER: SIX FIGURE INCOME THAT HE DRAWS FROM. RAY: HE DOESN'T NEED THAT MUCH MONEY COMING TO HIM PERSONALLY.
     
    RAY: LOOK AT MEDICAL $6,000 A YEAR THAT IS $500 A MONTH AS SALARY TO BUY INSURANCE. TRUST CAN PAY INSURANCE FOR YOUR SON AND THAT MAKES $500 A MONTH THAT HE DOESN'T NEED.
     
    LOOK AT MED. IF HE BUYS IT HE NEED $500 MO FOR MEDICAL INS, THAT'S $6K YR
     
    RAY: HOUSE AND CAR, IF YOU DO IT ALL PROPERLY. WE ARE LOWERING PERSON INCOME RQUIREMENT AND LOWER HIS PERSONAL TAXES. THE TRUST CAN OWN THE ANNUNITY. HIS ONLY INCOME WILL BE HIS SALARY.
     
    WHAT ABOUT EVERYTHING ELSE? AS A BOSS CAN PROVIDE IT, THAT'S LESS MONEY HE NEED PERSONALLY AND THAT ALSO LOWERS HIS TAXES. C/DOES THAT MEAN TRANSPORTATION, ETC. R/YES. LOWER PERSONAL INCOME THAT LOWERS HIS TAXES
     
    HIS ONLY INCOME IS ONLY GOING TO BE HIS SALARY, AND THAT SALARY IS GOING TO BE
     
    RAY: C: SON HAS A YOUNG SON. SON DIVORCED. RAY: YOU CAN RESIGN FROM BEING A TRUSTEE. YOUR SON IS ALSO A TRUSTEE AND BEING PAID AS TRUSTEE. YOU ARE JUST ON THE BOARD UNTIL YOU KNOW HE HAS FOUND HIS WAY. YOU CAN RESIGN. THERE IS TAX ON INCOME FROM TRUST.
     
    YOUR SON IS BEING PAID AS A TRUSTEE. ONCE YOU SEE HOW THIS SHOULD BE DONE, MANAGE THIS AND SEE HOW THIS WORKS, YOU CAN RESIGN. C/YOU SAID IT WOULD BE LESS BECAUSE ON HOUSE PMT, MEDICAL, ETC.
     
    THANK YOU. WHAT KIND OF TRUST DO YOU CALL THAT. R/MY FAVORITE IS A COMPLEX TRUST WHERE TRUSTEES ARE IN CONTROL, NOT ONE THAT THE BENEFICIARIES CONTROL.
     
    RAY: YOU CAN DO THAT WITH ANY TRUST HIRING TRUST. COMPLEX TRUST GIVES YOU 100% CONTROL AND BENEFICIARY DOES NOT HAVE CONTROL. THE COMPLEX TRUST IS THE BEST OPTION FOR ME. YOU WANT TRUSTEE CONTROL. THE SON CAN BE AGENT TRUSTEE AND YOU BE MANAGING TRUSTEE. HE WOULD NOT HAVE VOTING POWER TO MAKE FINAL DECISIONS. HE CAN BE ELEVATED TO MANAGING TRUSTEE.
     
    RAY: C: GOING TO SET UP SHELL TRUST AT THE BANK AND LATER GETTING AN ATTORNEY TO MAKE A TRUST FOR THE SON. SO THAT THERE WOULD BE PROTECTION FOR THE TRUST UNTIL GOING TO ATTORNEY. RAY: IF IT IS ONLY FOR A WEEK, FORGET THE SHELL TRUST. YOU ARE LOOKING FOR LIABILITY. IT TAKES LONGER THAN A WEEK TO FILE A LAWSUIT AGAINST YOU. IT IS STILL IN YOUR NAME UNTIL YOU MOVE IT. I WOULDN'T BOTHER WITH IT FOR A WEEK. SEEMS LIKE MORE TROUBLE THAN IT IS WORTH.
     
    YOU DON'T NEED A SHELL TRUST FOR A WK. IF YOU DO WHAT YOU REALLY WANT TO DO LATER. ONLY LOOKING AT LIABILITY ISSUES. THAT'S THE ONLY THING HANGING IN THE BALANCE.
     
    You can be a trustee or a beneficiary but not both
     
    RAY: WE ARE APPROACHING 2 1/2 HOURS. WE WILL SAY GOODBYE.  HOPEFULLY SOMETHING WILLL HAPPEN THAT WILL CAUSE US TO COME BACK, TODAY, TONIGHT, TOMORROW, ONLY TIME WILL TELL.  SONG: ARE YOU READY TO WALK IN YOUR SEASON. **END OF RAY'S CALL*****
     
    RAY/PROGRAMMED 2.5 HRS. CLOSE OUT NOW. SAY GOODBYE TO YOU. HOPEFULLY SOMETHING WILL HAPPEN TO CAUSE US TO GET BACK TO YOU. "SEASONS" ARE YOU READY TO WALK IN YOUR SEASON?

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