- Banks: banks finished their adjustments to the currency values and Ray was expecting an announcement on the weekend or today.
- TV broadcasting "No press allowed in Parliament session today and no interviews."
- Rates: Nothing new
- Banks: Someone is reporting their bank source saying "it's done." Ray: That information hasn't got to me yet. Don't know that it hasn't happened. Still saying this week. Some saying Monday, some saying Thursday.
Highlights of TNT conference call. Updated as the call progresses. Ray's exchange guidelines under USA heading.
Ray: Some things you weren't supposed to know about went good last week. Expectation thru the weekend looking for it this morning. Banks were receiving information indicating to them certain activities took place throughout the weekend indicating they were to receive exchange customers on Monday. And they might be. Waiting for information to know what they are experiencing today.
Get crazy near the end. Read some sources putting 800#'s out on Monday, 1:00 pm. Hear a lot of things.
CURRENT WINDOW: Ray: Still on all points bulletin high looking for this week. Some banking resources received information over the weekend, "it's all done." Banking sources say between now and Thursday.
Ray: I can only share with you what others believe. Banking people believe they were to see us this morning and all through the week. Should not get hooked on bits of information. We have to receive and accept - don't take it all hook, line and sinker has a real true fact. . . Not a fact until it actually takes place. It's somebody's best guess based on information they received.
IRAQ: Meetings taking place this weekend. Controversy around photo's of Dr. Shabibi with people. Unknown if they were old photo's. Ray said other things that tied in with that. Ray has unofficial information Dr. Shabibi has taken lead or head of CBI. Currently there is a news/media blackout in Iraq.
EXCHANGING: Opening an account: Do this even if planning to create an entity at a later date or while building your estate portfolio. Single people should put a POD, "payable on death," clause on the account. Effectively naming a beneficiary to the account. The person you name will only need a death certificate to claim the funds in the account. For married people, if not in a community property state or not sure of your state laws, put a POD clause on your account.
ID's: Make sure they are updated and not out of date. Have two forms of photo ID for NDA contract signing.
Inventory your currency and make sure it is updated before going to the bank. Inventory it to the denominations you hold per currency, not just the total of what you
IF NO 800 #'s: Locate banks in your area who do "currency exchanges." Don't mention the currencies you hold. If they ask mention a currency already popular, international like Canadian, Mexico, Vietnamese Dong.
Verification On SITE: Verification on the spot. You don't want to leave it and they contact you a day or two later and say there is a problem. You knew it was good when you released it and don't want them to come back a day or two later and say it was "bad paper." You want to know when you relinquish the currency and leave the site, it's a done deal. Ray: We don't want any issues to develop (post exchange).
Negotiate, Negotiate, Negotiate: Fees, everything. Ray: Ask not, receive not. If you don't ask for it, don't expect to get it. Ask for what you want.
Diversification: Use more than one institution. Ray: In banking period, do not put all your eggs in one basket. Intend to exchange at one bank, but will spread it around for safety reasons and to know what others can do for me.
Ray: Diversification, verification and negotiation are three words that should be at the top . . .
Q & A: TNT Forum
Q. - Waiting for it on Friday. Why did it not happen? Ray: Something happened to change it. I wasn't looking for it on Friday. Maybe you heard that somewhere else.
Q. - Whose hand is the release in? Ray: I would say Iraq's.
Q. - Why do you stay away from pending gold-back idea? Ray: Because it does not make any difference whether RV happens. The day the RV happens you won't lose any money. Our currency is not going to lose it's value over night. Not going to lose 20% overnight.
Q. - Time frame's legitimate/valid? Ray: I've reported time changes that memo's indicated. Memo that indicated currency value change came from the bank. Sources in Iraq want to get this done by the end of the month is a time frame. Wanting to get it done and getting it done by the end of the month are two different statements.
Q & A: Callers
Q. - Best guess when this will be done? Ray: Banking sources say between now and Thursday.
Q. - Contract rates on currencies? Ray: Don't be surprised if there are contracts on all the currencies. Ask.
Q. - Tony said no RV until 20 something. Do you recall that? Ray: Yes, we were told on the exchange of Zim there would be structured payouts (at different quantity levels). Had nothing to do with an NDA.
Q. - Which currency is easiest to deal with? Ray: Currency is currency. You want to exchange it for USD.
Q. - Heard the IMF has been in Iraq since Saturday and will be there till Wednesday. Ray: Yes, that information has been circulating and seems favorable.
Q. - You will be in Miami? Ray: Wealth Workshop, June 4. Put it in the forum.RAY’S CLOSING STATEMENT:
Are we waiting on information? Yes, we are. Banks had expectations and we want to follow up and see what happened. Know a big silence effort put on them last week and they maybe staying silent. Also, to hear what's coming from across the pond.
Whatever other training items we didn't address good on today's call, I'll look and see what the feedback is. If need to have a Wednesday call, get what intel we can and make the rest of the call to make sure we are ready. Truly be ready once this pops.
When it pops won't have time to answer/ask a bunch of questions. Want you to be prepared in advance for whatever plan of action you take.
Until then, keep the faith, keep believing. (played "I Believe").