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Wednesday, February 22, 2017

TNT Call notes 22-February-2017

TNT Call notes 22-February-2017

Replay 641.715.0623, PIN CODE 409029#
RayRen:  Good afternoon, super-fantastic TNT family!  Today is Wednesday February 22, 2017, yours truly RayRen98 at the controls.  We are halfway through the week, looking for some exictign thing to unfold right before our very eyes.
Guess what?  All is quiet, maybe a little too quiet.  On Monday it was very quiet, and then Tuesday there was a lot and then it’s quiet again.  We had people in Iraq sending intel that the dollar was banned;  we expected that, and good to hear it confirmed. Articles came out about that as well.  Most of us know what that means, as one of the conditions favorable for Iraq to be sovereign, with a currency that is competitive to its neighbors.  The dollar was the only other currency they were using, so there it is.  Now we are on the next morning, we hoped it would be here already and here it comes.  There are also rumors about Maliki being brought to justice, and reports of Rafidain Bank is now preparing its customers to accept deposits in dinar only, no longer in dollars – nationwide.  At least, that is the game plan, to ban the US dollar across all provinces.  Kurdistan is ahead of the curve on that, and their activities should be migrating across the provinces to end up in Baghdad.
There is nothing to report on the US side.  Banks are quiet, but ready.  According to member reports, the banks are more aware of what is coming, and bank managers are saying “I have you on my list to contact first”.  That’s par for the course, and not surprising to me, but about dang time is what I say.  They know things are coming, just don’t know exactly when.
Questions from the TNT forum
Q:  Do you really think we’ll exchange this month?  A:  Today’s February 22nd, and this month ends next Tuesday.  Yes, I do believe we will exchange this month, based on what I have shared with you and things I have not shared with you, no reason to think otherwise.
Q:  Would you speculate on the current rate of 83 cents and if that is the initial rate and we are looking for the “Contract ” rate what we should expect when we go in for our appointments?  Should we still try to negotiate?  Or walk away and look for a higher rate at a later date with no possibility of a contract rate.  A:  That’s a loaded question.  That 83 cents seems to be the in-country rate, probably will grow;  I still look to $3.71 to be the international rate or thereabouts.  I don’t know what to expect for contract rates;  we’ve heard some in the past that are high, and others that seem ‘normal’.  If contract rates are what you want, seek them out.  As for walking away, the only time I’d do that is if I cannot negotiate. Let’s say the rate is $3.50, and you have reason to believe it will go to $8;  I doubt you can walk into the bank and immediately negotiate it up to $8. Sit and wait for it to climb, and then go to the bank.  On the other hand, if you can get  $8 immediately, be sure to let me know!  But if you know there will be a higher rate, then ‘d wait until you have a chance of getting it – or, if there is a leveraging opportunity, that would also be a good idea.
Q:  What’s the best way to find a competent wealth manager?  I’m having difficulty finding a private banker/wealth manager for my current IRA, one who even acts remotely interested in calling me back or putting my interests first.  I have contacted three separate entities to date.  I hope a larger bank balance will generate more interest post RV, but it’s not guaranteed then either.  [RR:  Move on.  If they treat you this way as a nobody, how will they treat you as a somebody?  Go find someone who is more responsive to your wants.]  Do you have any suggestions or advice on where to begin finding someone?  [RR:  I wouldn’t try to force people to do business with me;  find those who want to do business with me.]   And how long a trial period would you say is reasonable?  Waiting a week or two (or month) for a call back just doesn’t seem right. Do you agree or is my premise wrong?  A:  Move on.
Q:  The 1.20 dinar to 1.00 dollar, is that the in-country rate? so about 83 cents?  Still hearing our rate will be above $3?  A:  So far as I know, that was the proposal for this time frame, and it will increase.  Internationally, I think it will be over $3.
Q:  Considering the current economic reality in Iraq,  it’s looking more plausible that the initial rate may be less than we were expecting…which is still an AMAZING return by any standards! However, if it is .83 to 1.20, would you elaborate on some strategies, with these factors? 1.)  The rate mentioned, with a 90 day exchange deadline. 2.)  A contract rate, not  much  higher  than the eventual projected parity rate of $3.70. 3.)  The market pressures driving the rate up for about three weeks Max as expected, then settling back to the initial rate.  A:  First, where are you getting that 90-day exchange deadline from?  And are you talking about the 83 cents rate?  That is in-country.  It’s hard to give hints on strategies when I don’t have you here to be a sounding board.  Sometimes this Q + A is a challenge because I cannot determine what you are looking for.  The same strategy doesn’t fit everyone.
Q:  Do you think the dinar, dong and zim will come out at the same time  A:  Yes.
Q:  China is behind the higher contract rate for the dinar.  Zimbabwe has no money or Reserves.  Who will provide the money to Zimbabwe to pay for the ZIM?  A:  I don’t know and I don’t care, so long as I get USD for my currency exchanges.
Q:  We have been reading from our own forum on TNT that people are concerned about the basket of currencies, do we still have a basket of the four or five currencies or is it just the dinar at this time?  A:  I addressed this before:  Yes, they’re all in the first basket.
Q + A Callers
865/470/404 caller:  There is a presumption that the  in-country rate is 1.20 dinar to the USD… have you heard more about that?  Also, on the www.tntsuperfantastic.com site, it talks about five locations to have seminars/workshops/celebrations.  Any more than that?
RayRen:  That was the proposal;  I don’t know for sure it that has even happened.  The locations were Tony’s idea, and when I took over, I just left those alone.  I’m just here to see this through.  If Tony wants to expand into other areas, that’s up to him. I would support that, though.
610 caller:  Go to www.tntsuperfantastic.com and click on the red DONATE button.
704 caller:  I do hope the 1% will give us our chance.
RayRen:  I don’t think that’s anything to worry about.
450 caller:  Should we go through the banks to set up a trust or other entity, now that they are in the know?  Or should we use an outside service?  Is there an advantage or dis-advantage to either?
RayRen:  The plus is that it’s very convenient for you and the bank;  the minus is that not all trusts are equal. You want one that is tailor-made, not cookie-cutter. I doubt that you will get what you want and need from the banks, because they are there to help with your banking and investments, rather than covering your assets regarding litigation.  That’s the  neat thing about being informed – you will know if the bank person can do the right thing for you, or not. Talk to them and see how they respond to what you want.  If they come back with ‘why do you want to do that’, and challenge what you want, then they are not the right people to create those tools for you.
Caller:  I have a dilemma about whether to set something up before or afterwards.  I think I should take 24-48 hours after exchange to consider what is best for me and my family.
972 caller:  Do you know who this rate is coming from, the 1.20 dinar to the USD?  I was reading an article that Iraq would be starting off with that rate after Mosul is liberated.
RayRen:  I understand that is the proposal.  If you do the math, that would mean a dinar is worth 83 cent, to start with.  I read an article on that, but I don’t believe everything I read.  It’s always been communicated that the RI would start low, gradually build, and then become an RV.  That’s what we’ve been hearing for a year now;  it’s just not wides-pread across the country yet.  It will start low in-country, and by the time it reaches inter-national rates, it will be in the $3+ range.  That 1.20 rate doesn’t apply to us anyway. In the USA, it will be an international rate, starting at $3.50 or so, and then upwards.
678 caller:  I have heard Reno mentioned quite a lot, that it is a big source in this exchange. My son happens to be in Reno today with his dong;  where’s a good place to exchange in Reno?
RayRen:  There is no exchange going on in Reno that I know about.  Here’s a secret:  I have some of the best spies living in Reno.  Back when all these heads of state were supposed to flying in privately, I sent him to have a look, and he sent me the tail numbers and such.  Every time someone talks about Reno, I send him out, and every time he has come back empty-handed.  I don’t think there is anything going on in Reno right now, but if something does come up, my spy will get back to me and I’ll let you know.
Closing Statement
RayRen:  We are in the waiting stage.  Everything looks good, but we thought that last week.  Anything we can learn to make our position stronger, we will do to be even more ready when this happens.  This could pop at any time, and all the technical information that has come to us is saying ‘green light – go’ as soon as this is released.  There is something that still prevents us going today, and I don’t know if it’s an issue or part of the original timetable.  Banks are training more people;  all of it looks good, and I don’t see any reason we won’t be finished in February.  They could wrap up between now and Friday!  We don’t know, so we just patiently wait.  If any other opportunity presents itself on the way we will take advantage of that, and make this time as productive as possible. This could be the final week for us, or it may spill over into the first part of next week.  Sooner is better than later, but I can work with either one so long as it becomes reality.
RayRen played I Believe:  https://www.youtube.com/watch?v=9DYrqOUKLtA

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