Highlights of TNT conference call. Updated as the call progresses.
Ray: Yes, we are still waiting to see . . . No new intel. Not a whole lot of new intel and had communication problems over the weekend. Phone went dead on Friday. Had to get back to town to get another phone. (text messages to old phone were recovered . . . so many of them Ray had not read them all by time of call. Still notifying everyone of his new number.)
Things happened over the weekend. . . were reported. Supposed announcements in Iraq. Don't know if they really took place or not. Team has not all reported in.
Military Exchanges: Most report nothing had happened. A few reports that a few exchanges did take place. Waiting to see the effect this has on the grand scheme of things or if this could be the beginning phase of something taking effect. . .Could see them doing this as a test . . .We've had banks be shocked at the numbers when people go to exchange and the person calculates it. Then they say, "this is too much, we can't handle this."
. . . If there’s some governmental process that may not be holding it up but preventing it from happening in the time frame we want it to happen. So if there’s an element that comes in sideways that says we’re going around this hold up . . . circumvention, something standing in the way . . . and kind of force the government to go ahead and go along . . . that’s a circumvention to me. Without saying to much . . . that was what I drew from the information as it came to me.
CURRENT WINDOW: Ray: Heavy expectation (bank sources) they would be seeing us today - into tonight, Tuesday.
IRAQ: It's uncertain whether Mosul has been retaken yet. Ray had no information on Abadhi making an announcement about Mosul. No new information regarding rate loaded on the Que cards or that Iraq completed issuing and funding the cards by the start of Ramadan. The process started last week.
- Banks: - all banks now have the lower denom's.
- Ramadan ends sundown July 5. Ray does not see Ramadan interfering with the completion of the cards or RV process.
- TV Mosques
- Canada: Ray had not heard from his Canadian sources by the time of the call.
- Rates: ZIM last week it was reported rate was showing on front bank screens .03 and .06 and .11 on back screens. Ray: A trillion becomes a million when you knock off the zero's.
UNITED STATES: Ray: People are signing NDA's and then clamming up.
- Banks: resetting in the banking systems over the weekend excited people and looks promising.
Q & A: TNT Forum
Q. - My son is overseas. Do I exchange for him or wait till he comes home? Ray: Depends, did he give you a Power of Attorney prepared in advance? POA over his accounts?
Q. - Was the Okie post from Okie? Ray: I believe so. I've not spoken with Okie personally. Another member communicated with Okie and confirmed it was from him.
Q. - Do you see the light at the end of the tunnel? Ray: Yes, I saw a strong light on Thursday . . . could materialize here shortly.
Q. - Fairchild Air Force Base mentioned as an exchange center. Could Ante who confirmed that, respond? Ray: Okay, Don't know if Ante is a TNT member.
Q. - Can you tell me when internet people will be exchanging? Ray: Some expected to be exchanging this morning.
Q & A: Callers
Q. - Know anything about bill HR 5276, prohibiting US government from bailing out bankrupt cities, counties, states? and instituting bail-ins - taking money from our bank accounts, up to 25%. Do you know anything about that? Ray: No, but you can ask your bank. I will research it when I get money in the bank. (See: https://www.congress.gov/bill/114th-congress/house-bill/5276)
Q. - Do you know anything about changing the contract rate to sovereign rate? Ray: No, you would have to ask those people who are reporting that.
Q. - How is RV going to be a good thing for the US when it will cause hyper-inflation of our dollar? Only 250 billion dollars circulating right now. In your mind Ray, what do you think you should tell all of us, that it is not going to be the same thing as Greece and Argentina? Ray: I have not given that a lot of thought. Been focused on the reality of this popping out and then plan after that. With the professionals we will be interacting with, it won't be as bad as people are thinking, as we will have a remedy . . . I see it as a positive. Those of us on calls like this will be informed. In Greece, the ones most impacted were the uninformed ones. The extreme wealthy were still wealthy. They were informed. We will seek out professional economists, not guys like me who just guess at what will happen. I'm going to take their advice 100% and move with it. I don't have that kind of information.
Caller: Have cash on hand in case the ATM's shut down. Ray: Not a bad idea.
Q. - Dodd-Frank actually gives them the authority to do a bail-in. Will you go through your info on the phone if there is something good will you give us a blast or Tweet? Ray: Yes, I will.
Q. - Maybe it's already happened if our military has exchanged? Ray: Maybe and maybe working in the background without us knowing it.
RAY’S CLOSING STATEMENT:
Hopefully more information will come in today. Good information will put out an update this evening. Don't forget the three "tion" words. Verification, Negotiation and Diversification!
Verification: Locations for foreign currency! exchange and then verify it on site. They can send it off later, but verification process says this is a done deal . . . or don't leave it. I won't.
Negotiation: Anything and everything, even the temperature in the room. Get in the habit of negotiating, not arguing. Rates of return, interest, investment products. Anything is open to negotiation one way or the other. Bank perks. Quetion which will be taxable or not even though you did not actually spend the money. Be ready so you won't have to get ready.
Diversification: When it comes to life in general have several baskets.
Say thank you to the mods, transcribers, everybody that is still here hanging on to the get job done and those who have gone and needed to take a break. Appreciate them. Everyone have a wonderful day. Hang in there. Keep believing, because I do. (played "I Believe).
RAY: Yes, we are. We are excited about your future.