TNT Call notes 27-May-2016 with forum questions, no callers
RayRen: [TNT Rap] [audio checks] Good afternoon, TNT super-fantastic family! Today is Fantabulous Friday, May 27, 2016. This is RayRen98 here, working the controls.
Are you really ready for the RV? The RV is about more than going to the bank and doing an exchange… I was late getting started because of last minute telephone calls… and they were good. I’ll bet some of you were not expecting to be this late in, still waiting. There IS light at the end of the tunnel, and it’s a good one, I think. There was no intel to share with you until… it came in.
Let’s review as we get ready for our weekend. We’ve had a barrage of things happening throughout the week, some of them were shared and some were not because some sources might be fired. Some of the information wasn’t important or didn’t matter anyway. I like to hear the important stuff because I’m results-oriented. A lot of things are being said that we can do nothing about, so I don’t waste time with that, but you can get that from other sources. The things I don’t speak on didn’t get us any further. We did share the information that comes from our sources.
We had bank activity all week, expecting something. They don’t know the exact time either; they have to wait for the signal, just as we wait for them to tell us when to come in. If they knew the timing, we would see differences in how the banks spend their money on hotels, etc. I do like looking at those indicators because that is better than nothing. We have had some people with appointments, being told to bring their currency. There is a member who has an appointment yesterday or today, and I hope they will get back to me. Those who had appointments were told the banks were still waiting for one more thing. We’re not receiving many reports on private exchanges this week, but they might be taking place; that remains to be seen.
In Iraq, some people still want to protest with concerns about reforms; we hear that Iraqis out of the country have cards that are working, while some in the country are still waiting to receive their cards. We hear bits and pieces, so there is some progress. At one minute we get good bank planning information and the next minute they are dry as a cork. Then a day or two later, we hear things again.
It is my belief that at least one bank will distribute 800 numbers, and have some idea of who they will give them to; some of the other banks don’t know. If there are no 800 numbers at all, what do we do? Call your local banks and find out which branches deal with international currency transactions, and who verify on site. We know that Canada has 800 numbers, for sure.
Iraq is still looking for everything to be done by 1. June, to the best of my understanding. We are still in that window of expectation. Some ask, “Who is holding this up”? Who really knows that answer? Some good information has come to me that could answer that, but… Naysayers say we don’t have any intel; I left four pieces for others to answer and they never said a word. They dropped the ball.
That’s it for the intel, so those who are just here for that… bye! I will answer some questions from the forum.
Q: It’s been alluded to that the time for exchanging currency has been shortened so much that we won’t have time to get to the exchange event to receive what I believe are contract rates but are now being called sovereign rates. Are we being delayed so that we can’t exchange because of timelines? What are sovereign rates specifically?
A: Hunh? Based on the number of times you haven’t heard me mention sovereign rates, I suggest you go back to wherever you heard about sovereign rates, and you decide if it applies to you or not. I still be believe that we have contract rates, international rates and market rates.
Q: To make sure I’m completely set for exchange, my spouse has two picture IDs and I only have one. Can we use an expired passports or not? Can we still get contract rates?
A: I believe that IDs that have expired are no longer usable. Call when you make the appointment, and they may say ‘sure, bring the expired passport’. I don’t know; can only share what we were told in the past, that two photo IDs would be needed. If you can acquire a second photo ID, do that; if you can’t, ask when you call and let them instruct you.
Q: Please explain the difference between revocable and irrevocable trust in relation to inheritance tax.
A: Inheritance tax applies to something you inherit. A trust that is properly set up sends the assets to the beneficiaries. The assets remain in the trust; they are not the assets of the grantor, so no inheritance tax applies.
Q: Is there such a thing as a pre-exchange trust? A: It depends on what your needs are. Look at the reasons you are doing these things. Some people want anonymity, and they can do that without setting up trusts, LLCs or foundations. Some want asset protection. Figure out what you want, and then you will know which tools you require to create that situation. Talk it out with your professionals; I cannot do this topic justice here.
Q: How can there be offsite exchange centers without 800 numbers? A: Easy. You just need to know it exists and make your appointment. The 800 number is just like receptionist who sets up the communication between you and the bank.
Q: Do both spouses have to be at the exchange? A: If there is an NDA, both spouses have to sign it. Both can be at the appointment, or only one, but both have to sign the paperwork before you can be funded. Ask these questions when you make the appoint-ment rather than going on what I remember. They may have changed the rules!
865/404 caller: In our opening comments, you said there were nuggets you didn’t share; can you share any of those nuggets now? Or the new intel that came in that delayed the call today? Anything you can share, given that this is a long weekend?
RayRen: It’s information you will hear and learn about.
Caller: I just want to know that information right now! Not soon or whenever…
RayRen: I can’t share it right now. Go back and listen; there is something there.
Caller: Knowing this is a holiday weekend, and if this has still not occurred by Monday, should we expect a regular Monday call or not?
RayRen: I don’t think there is going to be a call on Monday; I don’t plan for there to be a regular call on Monday. There may be a communication…
941 caller: How bright is that light?
RayRen: Based on the information and if it holds true, it’s a bright enough light that you don’t have to look at it directly… you can see it peripherally. I’m still looking at 1. June. Based on what we have heard, I would say 1. July is a back up date for the IMF.
716 caller: It seems next week, next week… how much further can we go?
RayRen: Welcome to the world of politics and government.
[There is no new intel and I have work, so I’m leaving the call now. Check the Cliff Notes for Ray’s summary.]