TNT Call notes 9-May-2016
RayRen: [TNT Rap] [audio checks] Good afternoon, TNT super-fantastic family! Welcome to the super-fantastic call on Marvelous Monday, May 9, 2016. This is RayRen98 here, going to take you through this information, the little bit that we have. It’s getting more and more scarce; maybe there is not much more information to get. Could we be at the last leg, the last step, or the short rows? When you are in the short rows, there’s not a lot to consider, just knock it out and be done. It looks like that on the surface; it has the appearance of it, from the cover or the outside. You can’t judge a book by its cover, but the cover can tell you if you are looking at the right book.
Where are we right now with surface information? Over here, on the US side, we had the banks, some banks, seriously thinking Friday was it. Some were thinking Saturday, and went in early on Saturday to be ready and to move on a moment’s notice. Some said Monday, and it is Monday now. We are not sad, upset or dissatisfied. The banks cannot tell us when this will happen. If the banks are anticipating, I like that feeling.
On the Iraq side there is a different twist. We can give you our information and others can give you theirs; it depends on what you subscribe to. I have always said we would not see the public RV until Iraq does. Kurds said they are not going back to Baghdad, that they want to be independent, mainly based on the turmoil they are seeing. Then some said that “if you apologize, maybe we would come back”, and we all thought “oh, no, more delays”. But when we look at it from one perspective, we see the corruption, but on the other hand, the monetary reform is in the hands of the CBI, not the government. We are getting the picture that they have already made that decision, and even the IMF is saying that the two remaining demands have been met, so governmental issues are not a big deal in terms of what we are waiting for. Could it be a timing thing? IMF is saying that Iraq can do what it chooses; the Iraqi banks are adjusting to new currency rates this week. The banks expect that to be released and then to go fast. If they are just into new currency rates this week, then that might it goes this week, once they have calibrated and synchronized, etc. So it depends on your perception: does the government still have issues, or have they released it into the hands of the CBI. If the latter, these protests and such mean nothing to us. We believe the main decisions have already been made. The banks are anticipating currency rate changes? Sounds good to me.
Q: Have you any words of teaching or wisdom on creating layers of anonymity, or buffers between us and folks we want to help? A: That is where entities come into play, which are also about asset protection. That will handle both parts. You will have to show proof to the bank if you create a corporation, trust or foundation, but if you just have a business name, you only have to register that d/b/a, and that will provide some anonymity. If you want to do that and pay things, buy things, give things away, then the average person will have no idea it is you doing it. That’s the easiest way to create anonymity.
Q: Do things like paying student loans or medical loans count towards the gift amount to an individual? A: If memory serves, paying someone’s bills is not a ‘gift’ amount. Call the IRS and ask them directly. Ask the general question: If I pay someone’s bills, will that be considered income for them? I don’t believe so, and if I’m wrong, someone will tell me. But I don’t’ think that is considered a gift amount or income. If not, look at the creative things you can do without worrying about the gift tax rules, etc. So what is the problem? If someone cannot make ends meet because of debt, the lack of money makes that a problem. If you have the money and just pay the bill, then ‘problem solved’, especially if that is not considered income, so it’s not taxable or affecting their benefits. We have to take all this into consideration when we want to help somebody. It might be flash in the pan help rather than sustainable help. You might feel good about it and your intentions might be good, but think of the ramifications before you act. They are in that situation for a reason, and good money management is probably not part of that. So you give them $15,000 and they are just going to go off into the sunset? Focus on what you want to do to help that individual, and what is the problem, not the reason for the problem.
Q: Have all the local Iraqis got their stipend cards? A: I haven’t heard of anyone who is still waiting to receive them, but there hasn’t been much conversation on that lately.
Q: If not, how do people live? A: Iraq is not 100% electronic; the cards are the new way Iraq is paying people.
Q: Are some Iraqis getting a check every month and others not? A: I assume so. Some get paid in a traditional manner rather than electronic.
Q: Is all this to do with waiting for political stability? A: I assume so, but maybe not.
Q: If the political situation is a main factor, will this go beyond June? A: I don’t think the political situation is a main factor. I don’t see going beyond May or June for this deal.
Q: Since I’ve never had enough money to manage, I don’t understand the principle of ‘own nothing, control everything’? Can you explain what this looks like? A: If I set up a corporation and you are the CEO, you are in charge although you don’t own the company. You own nothing, but you control it all because no one can come in and supersede you. Who owns a corporation? No one, but the corporation owns assets, and the officers run that those assets as if they own it. Trusts, LLCs and foundations – no one owns the structure, but the structure can own houses, cars, collectibles, currency. Who calls the shots? The officers have full control and authority as if they owned those assets. You can take these tools, learn how each one works, and manage your lifestyle with these tools. You will still own some personal things, like clothes and books, but there will be too small for anyone to come after. Your checking account might have a thousand dollars in it, but your car/boat/house will belong to other entities. You just have permission to use them. As a person, you are basically poor (when it comes to a lawsuit). If all you own is a couple thousand dollars in a bank account, no attorney will go after that.
Q: At one time, we were hearing that Iraq’s cleric al-Sistani stepped into the arena. A: I don’t recall hearing anything from him.
Q: The weekend has gone; do you have any new intel to keep you excited? A: Yes, I said in my opening monologue. I don’t know if Abadi has announced his last two Cabinet positions. If it’s all in the hands of the CBI, that doesn’t matter.
Q: Is there a limit to how many joint accounts a person can have? A: Ask the banks.
512 caller: I guess you are telling us we are just as close as yesterday?
RayRen: We are further than we realized yesterday. If they have new rates over there, that could wrap up today! We didn’t have that information yesterday…
Next caller: Will everyone have to sign the NDA?
RayRen: I don’t think everyone will have to sign one.
610 caller: Donations, please, at www.tntsuperfantastic.com.
301 caller: Do you believe that the coins will be distributed when they revalue?
RayRen: Yes, lower denominations and coins will be distributed. Some are already out in people’s hands, but they are not using them heavily because the value hasn’t changed.
423 caller: We’ve heard over the years that the banks here are getting ready, but this is the first time we’ve heard that the banks in Iraq are adjusting their rates. I hope this is the sign that it’s about to happen.
RayRen: It’s the first time I’ve heard it and they are saying it’s happening this week. This is the Iraqi banks we are talking about, not the US ones.
Caller: I hope we are celebrating today!
707 caller: I hope we can stay connected. I’m supposed to be in the Gen64 group; I haven’t heard from them, and don’t know if it’s a good thing or a bad thing. Remember, Moses never made it to the Promised Land.
RayRen: At least you know you are in the internet group. We are going into the Promised Land! This is happening, and as long as we keep breathing, we are going.
580 caller: The brother that was just on, if he will listen to the Big Call with Bruce, they talk a lot more about the Gen64 group and all that. They might answer his questions.
360 caller: The last time you talked about the rates on the screen – are they fiat rates or asset-backed rates?
RayRen: I don’t know. I’ll leave it at that.
340 caller: You talked about rates on Friday. Is the Iranian rial coming out together with the dinar? Do you know what the rate will be like?
RayRen: The last time I heard, it was $3.22 or something like that.
Caller: If I want to buy someone a house after the exchange, will there be a tax penalty on me or on the recipient?
RayRen: What kind of tax are we talking about? Sales tax, property tax, income tax? If you buy a house and give it to someone, the best thing is to call the IRS and ask them.
Caller: About the zim, did you say the rate starts at 11 cents?
RayRen: That is what they said were on the screens on Friday. That came from a source that reports to the other banks. After the call, the other banks said they received those rates, but they said they will be paying more than that. I said, “Okay, sounds good!”
Caller: So the suspicion is that when Iraq finishes their adjustments, then we go to the banks, right? I will be doing some of my exchanges in Dubai, especially the zim. Eleven cents is still over the moon!
RayRen: Yes, that is my impression. In Dubai, they will have different rates than in the US; they should be somewhat higher here. You will find out before you go. Eleven cents is good, and more would be even better!
Caller: So this could happen by Wednesday…
RayRen: It could! They started the adjustments yesterday, which is a regular business day for them. We might wake up tomorrow to something, and we might go to bed to it.
Caller: That’s a plan! I want to do some backflips, but I’m waiting for the word. Will Tony be in Vegas? Will that be ten days after the RV?
RayRen: That depends on what we can get in Vegas. We have to wait until this finally releases, and then look around and see what is available. We’re playing this by ear.
510 caller: If we RV this week, is there enough time to set up a trust or LLC?
RayRen: It’s too late for this round, but you can set something up for the next round.
Caller: can you recommend a service for setting up a self-directed Roth IRA?
RayRen: IRA Financial group has been used by some of our OM members; start there. They have been happy with getting their thing set up.
Caller: Is it too late to register for your event in Phoenix this weekend? I sent you an email last week, and joined the notification group, but didn’t hear anything.
RayRen: Email me again today and I’ll send you the times and locations. Do you dance?
Caller: I love to dance. I’ll be the first one on the floor! I’m not on the forum. After the RV will there be access to the forum or communication group?
RayRen: You show up Friday for the meet and greet; we will hook you up with everything you need.
Caller: Happy Monday! Vegas, Vegas, Vegas!
972 caller: I’ve been researching about the dong revaluing on the 4th and 5th. Haven’t see any confirmation on that – have you? I like to see what everyone’s doing, not just Iraq. What do you think of Iran being the powerhouse in the Middle East?
RayRen: Re: dong, I don’t have any official information on that. I don’t follow politics in the Middle East. Everything else floods the brain waves. I let other folks deal with it becomes of interest to me.
716 caller: Do you know what the Indonesian rupiah is right now?
RayRen: Last I heard, it is $1.05 to $1.08.
Caller: The currency group where I bought dinar and dong sent me a 50,000 note for free. Happy Birthday in advance – let’s go rich!
RayRen: I looks like I got everyone in Q+A, and it’s past the top of the hour. I’m just anxiously waiting to see how this rate adjustment thing unfolds. Could it complete itself today? Tomorrow? They say they are expecting a release soon, this week, so I’m highly optimistic now, and not paying attention to their government. In the meantime, we wait, patiently and happily, upon the short rows. If we are here on Wednesday I will be surprised; hopefully we will be here earlier discussing moving side, the other side. If the banks share the process, that will make the experience a lot smoother. If no 800 numbers come out, what will you do? The assignment has been issued. Get it done! Then you will know what to do, who to call. Until then…
RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA