Highlights of TNT conference call. Updated as the call progresses.
FRIDAY: If it does not happen by Friday morning the 1:00 pm call will be cancelled. We have a big party we are planning in AZ. I may be stuck in the air if it does happen
Ray: Still sitting where we were Monday as far as the information. Some minor adjustments.
CURRENT WINDOW: Ray: US Banks . . .saying by Friday. . . may start doing some exchanges between now and Friday. . . private ones. Optimistic this will wrap up by Friday. . . I'm excited about where we are.
IRAQ: Parliament met again. Bonds to go on sale soon if not already. Talk of Kurd's coming back to the table. PM Abadhi's cabinet, the new GOI appointees need swearing in.
- CBI No new information from the GOI regarding the banks changing the currency values inside the country
- Demonstrations: continuing but the Green Zone has been blocked off from demonstrators.
- TV Mosques
- UN Operational Rate change announcement on May 15th: Ray: When you see them posted you will already know the results.
- Canada waiting for it to go International and pop out in the USA.
- Zimbabwe: Was a shortage of USD over there so they put $200 million on reserve to back it up. Ray: I don't think it has anything to do with what we are doing at exchange time.
- UST: information flows from the UST to the banks.
- Banks: Intel contacts are people who actually work in exchange centers. Ray: US Banks are extremely quiet. They were told too (be). . .saying by Friday. . . may start doing some exchanges between now and Friday. . . private ones.
- NDA: Spouses will have to sign an NDA - even if in another state or separated.
- Off-site currency verification: If it's out of your site, verified elsewhere, and comes back counterfeit when you know it was good, how do you know it was not mixed in with someone else's. You may have to go to another city to have it verified on site at the bank. Ray: It's a gamble if you send your currency away. Caller: Wells Fargo says they will verify on the spot. Talked to several branches that repeated it. (I was told the same thing by a WF, Scottsdale, AZ. branch - Sunny)
CONTRIBUTIONS TO KEEP THIS CALL GOING: If you do not have access to forum or PayPal, mail to: Raymond Renfrow, P. O. Box 1748, ELM City, N. Carolina, 27822
Q & A: TNT Forum
Q. - Gifting discussed on Fla. radio by attorneys. Gifting to family members limit is $12,000. Ray: Something to look into. May want to reevaluate gifting.
Q. - Recommend what instruments for a widow to hold? Ray: Learn about the tools and make decisions on her particular bias. Could not recommend without knowing more. Have paperwork drawn up at your workshop? Ray: No, it's just education.
Q. - Have you heard about rise in rates for the 12th? Ray: No, I have not.
Q & A: Callers
Q. - News story about Zimbabwe saying they are going to RV their currency on their own. Ray: If they can, they should. It's a wait and see situation. Caller: Iraq has to go first? Ray: Originally it all hinged on Iraq going first. Now, I don't know what would be preventing them (Zimbabwe) from going ahead. Seems all we heard in the past is holding true.
Q. - Studying trusts: Can use sub-trusts for vehicles, houses. Has to be done pre-RV to work? Ray: No! Caller: Wondered if he was trying to sell trusts? Ray: Sounds like it. Don't worry you will have time post RV. Caller: Wells Fargo will require holding 75%? Ray: Sounds ridiculous. To me. Ask them to show you the law on that.
RAY’S CLOSING STATEMENT:
We don't know when it's really going to pop. Bank sources looking at this week. Iraqi sources told us Monday their banks were adjusting the currency rates. Here it is the middle of the week. We don't know the time frame. How will it unfold, if it's going to this week? Have had other communications indicating everything will be finished before this month goes out.
Wait, because it's all we can do, but wait. While we wait, let's be sure we are ready. If it's our time we won't be scrambling what bank to go to. You should already know at this point. You should know by the end of this day. If not 800's how will you know what to do? If nothing is being communicated to us, you will still have a plan of action.
Still excitedly looking for bank information to come our way. Always been a believer, they will probably give it to us at the last possible moment. I'm sure the banks do not want a phone # circulating and calling when they are not set up to receive it. Probably release it a minute or two after they have people in place. Thinking it's why we haven't seen them yet. At least until I hear from a banking representative.
If they don't, what will you do if there is no 800 #? If your answer is, "I don't know," then your in trouble and should be able to get yourself out of trouble. Even if I issue an 800# you should still have information on a bank in your area. May hear something different rate wise or customer service wise. Don't rely on 800# being the end all.
"My mamma told me, you better shop around." This is your life, your future. . . This is business and in business people become competitive. Make sure you have all your ID information, know where it is and can put your hands on it. NDA's: spouses will have to sign as well. Even if your spouse is in another state. You never got a divorce. If you have those down and taken care of, your ready. If you don't, your not ready.
Utilize this time we still have so you. . .have your ducks in a row. Be ready. On exchange day the only thing that should be on your mind is exchanging. How much money are you used to having in a year? As a single lump sum?
Some of you are going to have millions. How are you going to react? From sheer excitement . . . I can quit my job, all these things will be running through your brain, running around like a chicken with it's head cut off.
Me, I'm not going to be deciding anything on that day. Just excited to get this done, exchange taken care of. I can come back later to talk to bank personnel and put it here or there, pay off bills, bank can wire transfer. Don't need a bunch of cashier checks. Those can be stolen as well.
Exchange day I will be getting in and out. Go home. Currency will be out of the house, wherever you have been hiding it, storing it. Sleep on that and wake up the next morning and then start evaluating and then get with the banking people.
I think most of us need 24 hours to let that (the new you) sink in and then go back to the bank. You will have the one thing out of the way, the swollen head. On exchange day, just do that and then go home and relax. Some of you might need two days. Then go buy this and that.
With that being said, we just wait now for that moment. Still don't know when to expect it other than this week . . . by Friday. Adjusting for this week, they are saying. This just might be the week or . . . it might not. The question is are you ready? Ready to take control? All you have to do is believe. (played "I Believe.")
FRIDAY: If it does not happen by Friday morning the 1:00 pm call will be cancelled. We have a big party we are planning in AZ. I may be stuck in the air if it does happen.