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Friday, June 29, 2018

TNT CC NOTES, 29 JUNE

Replay: 641.715.0623, PIN CODE 409029#


RayRen: Good afternoon, TNT super-fantastic family!  This is Wednesday, June 27 2018, with yours truly RayRen98 here along with Tony.  Friday’s call was cancelled.

Tony:  Good morning, TNT!  What’s going on?

RayRen:  Did we do an update yesterday?  No, we didn’t, although there has been a lot of information, especially late yesterday evening.  Some military folks are going back to Iraq for various purposes, and they have been told NOT to take US dollars as the country is revaluing the currency, and US dollars would have to be converted when they get there.

Tony:  So…  a person with military orders is going to Iraq being told not to take US dollars because by the time he gets there they will have revalued their money.  He is going next week.  So there is nothing else we need to talk about, right?

Now, as for the bank screens in the US, for three days in a row the bank has said, “we’re going to do it today”.  So they are obviously looking at the screens and the rates, although some are greyed out.  The dinar is now about $3, down from $4+, because there have been changes on Forex.  I’m still waiting for the other currencies, but at least they are on the screens again.

We were on a call on Monday, and one of our people has some good connections with government sources, even in this administration.  We are within those six degrees of separation, and Ray spoke about the banks on Open Mic.  There are people I talk to (almost) every day, and a group of them were called in by the bank on Monday.  They were all put in the same room, and were told that they were called in because they bought foreign currency within the last year, and the bank person wanted to explain how this process will work.  The bank person mentioned the five currencies we know about, and the people were told ‘dos and don’ts’:  don’t make yourself a target through buying lots of cars and houses, etc., don’t talk about the details of the exchange, try to live off the interest rather than the capital.  He said the interest will be so great that you should be able to live comfortably off the interest alone!

While the banker was speaking, two of the people looked at each other and said, “My God!  I think Ray was right!”  She did give them a window of time to come back and complete the exchange process, and their window was within our window.  I won’t tell you the bank, but they have been saying, “we don’t buy or sell dinar, and we never will!”  They were doing this on Monday and Tuesday, then there was a glitch on Tuesday evening, some bank didn’t get connected.  Really?  They’ve been doing trial runs for ten years!

Then a government source said there was a glitch in the system;  they tried to push it through, but were unsuccessful.  They seem to be trying every day.  However, the bank person gave her people a window and it’s similar to our window.

Sadr and Abadi have formed the largest coalition, and articles say that Abadi has agreed to what Sadr wants (the Nine Steps that they put out last month), so that Abadi can be named as the next Prime Minister.  There is one step in particular that Abadi has agreed to… (implying that this step is the revaluation of currency;  step #4 in the Nine Steps is ‘completion of the economic reforms’. )

Questions from the TNT forum

Q:  Is HSBC the only large bank that will exchange all three currencies?  Will HSBC give us the best rates because the Chinese want the currencies for oil?  Will HSBC give contract rates on Dinar and Dong?  A:  they are NOT the only bank for Zim, and we don’t know who will have the highest rates, yet.  We don’t know for sure about contract rates for dinar and dong;  ask for them when you go to the exchange appointment.

Q:  You have not mentioned the Zim lately. Is it still in the first basket?  A:  Yes, we talked about this on the last call.

Q:  Have you heard how the Tiers are doing as far as when they will be completed and time for tier 4 (us) to start?  A:  The tiers are not doing anything, or having any payouts for individuals or groups.  Tier 3 will not be activated until the RV happens;  they and we will go to the bank at the same time.  I know people in Reno, and they are not being paid.

Q:  Yosef said last night that Wells Fargo will not be exchanging Zim?  Don’t remember all the details but said only HSBC… is that true?  A:  So far as we know, WF will be exchanging Zim.  And you know we don’t deal with what other people say on non-TNT calls.

Q:  My son calls from jail everyday asking me to get an SKR for his Currency. He has a brain injury and is OCD about it. Do you know what bank can do that or is it possible to digitize it now somehow. He knows many other people have done and won’t take no for an answer.  A:  He really doesn’t want SKRs at this point, plus those SKRs are at a lower rate than we will see with our exchanges.  I understand his frustration.  However, he is in the perfect position, currency in hand, to he can go to the bank, get a good rate, and exchange immediately.  [At present is NOT possible to digitize exotic currencies in US banks – they will always convert into US dollars before depositing.  ]

Q:  Is there any news from your Iraqi contacts about the fils and/or the ATMs?  A:  There is no update on the lower denominations apart from the awareness campaign, which is still going on today. They are waiting for the same date and time we are.  I believe there is a Middle Eastern meeting today that plans to make an important announcement today.  Our guy with the card over here says he was informed there will be a rate change today, but he hasn’t heard details yet.  We are still in our window, up to 1. July, although I think it will happen before then.

Q:  Has the US dollar been totally removed?  A:  My contacts say it’s now rare to see US dollars;  we know they are trying to remove all dollars from the Iraqi economy.

Q:  Are all foundations the same?  A:  No, they are different in structure, function, and compliance.  I think you should look at private family foundations (for your own needs) and a private operating foundation if you have actual projects you want to run.  You want to learn how different ones function to implement your plans.

Q:  Since the word is coming out that the electronic billboards at the ATMs are showing photographs of the lower denominations, is there a chance that someone snapped a photograph of some of these lower denominations and that we may be able to see them?  A:  We’d like that, too.

Q:  I’m from Texas and will be traveling to Pennsylvania this coming weekend and will be there for two weeks.   I know you’ve discussed this in the past.  But, has anything changed?  Will I be able to exchange/redeem my currencies while there?  A:  We were told that you have to be in our Fed Reserve District, but it’s worth a try.  Also, they will make your appointment according to your area code, so I don’t know  if the local zip code will work.  If they don’t allow you to set up an appointment in PA, go to the nearest airport and fly home!

Questions from live callers

470/404 caller:  You said that three days in row your bank sources said “we’re doing it today”.  Would that be US or Iraqi sources?

Tony:  That would be US banks, for the past three days.  They can see a rate on the back screens, they are trying to do something, and we’re told that there were glitches.  We don’t really care what their actual plan might be – let’s just get this done!  We do know that Tuesday-Thursday is the preferred window for some, while others like the weekend.

951 caller:  You mentioned that Abadi agreed to all Nine Steps. What is the condition we don’t know – is that one of the Nine?

Tony:  Yes, I believe it’s one of the Nine.

Caller:  Who is meeting in Saudi Arabia today and making an announcement?

Tony:  It’s a meeting of Alak (Governor of the CBI) and nine other people, dealing with the economy, and they are supposed to make some major economic announcement.

631 caller:  Sadr and Abadi?

Tony:  Articles are coming out saying that Sadr and Abadi have agreed about the largest bloc and Abadi being PM, with only a small percentage of the votes to be recounted.  So what was all this fuss about?  Maybe it was just to take us to the end of the month.

Caller:  I was talking to a VP of WF in this area, and he was sitting on the edge of his seat listening to me.  He had no clue that this was going on.  This was on Long island, which is quite a wealthy area.

RayRen:  That was the first time you had a VP who didn’t know what’s going on??

Tony:  A bank might have ten VPs – what division was his Vice President of?  This window is what we are being told, and I’m sure his information will change when that happens.  Yes, we are hearing 30. June to 2. July.

678 caller:  If you have an established corporation and you exchange in the corporation’s name, will the corporation be taxed as if you did the exchange in your own name?

RayRen:  IF the situation is taxable, then whoever or whatever does the exchange would be taxed.  However, we are being told that the exchange is not a taxable event.  If you exchange and you are taxed, and you then give money to the corporation, it’s possible that the corporation would be taxed on income – check with your tax adviser.  You only make tax-exempt donations to foundations.  If it’s not a nonprofit, there would still be taxes on the corporation.

480 caller:  When I make my exchange, if I do so under my name, then it is nontaxable, right?  If I then put the funds into a trust, would it then be taxable?

RayRen:  That is distinctly different from giving money to foundations, as with the previous caller.

Caller:  My attorney said that I should exchange under my name and then we could do something with a trust or a foundation.  If so, would the funds be taxable if/when I transfer it into a trust or foundation?

RayRen  If you put more than 50 million dollars into a trust, you may be taxed on the amount OVER 50 million.

Caller:  I want to give my manicurist a donation to help her going to dental school.  Will it be okay to give her $1,500?

RayRen:  Is that just as a gift, or to meet a particular cost?  It might be better to buy her the equipment she needs or pay some of her tuition directly;  that way it will not count as income or interfere with her entitlement.  If you just want to give someone a gift, and it doesn’t interfere with their situation, you can give up to $15,000 in a calendar year without invoking gift tax (which is 40%, and paid by the person giving the gift).  If you don’t want her to have to declare that gift as income, buy the person something that will help.

Caller:  I seem unable to receive the tweets or text messages.

RayRen:  Contact Twitter, and if they cannot find the problem, check with your service provider.

509 caller:  Have they made the announcement about who the PM will be?

Tony:  They have only announced who has formed the largest bloc, and that Abadi has separated from his party in order to resume his position as PM.  He can only do that when the new Parliament reconvenes on 1. July, but everyone knows what will happen because they agree to it already (apart from Maliki and his henchmen).  Parliament has to meet, Abadi gets nominated, and Parliament votes him in.  They could do that all in the first day.  The CBI is still running their education program about the lower denominations and use of the electronic cards.  Regardless of what they say, Iraq is doing the things to show they are getting this done.  Part of Sadr’s deal is for the economic reforms to be completed.  Everyone in Iraq wants to see this done.

281 caller:  Wasn’t there supposed to be some kind of announcement today?

Tony:  The CBI was supposed to make an announcement to the banks, and also there was supposed to be a major announcement at the conference in the Middle East.

Caller:  It seems like a lot of things are coming together this week.  Regardless of the dinar international rate, I assume we can still ask for the contract rate?  [Yes.]  As for what the people called in the bank reported, is that in alignment with  what you told us at the beginning of the year?  Do you still have to call and make an appointment?  They still haven’t given you 800 numbers or instructions…

Tony:  We’ve always heard that they want people in and out in 15 minutes;  the bank person told her people that they need to allow an hour and a half.  If they don’t give us 800 numbers, and I think they will because that’s the only thing that makes sense, then you can still walk into your bank and set an appointment with a wealth manager.  The tellers are not going to be able to handle this level of exchanges.  I don’t think the banks will do that to themselves, but if they do, we’ll have to adapt.  I did say that the 800 numbers would be given out an hour or so before the RV is released.

305 caller:  Would it be beneficial for me to put my money in a trust so that it doesn’t affect my Social Security?

RayRen:  Contact SS and find out what affects your payments;  then you can plan.

Caller:  If I put my money in a trust, can that money be invested and the trust receive interest from that?

RayRen:  Yes, the trust can receive interest, and you can draw a salary from the trust.  However, you might want to check that it doesn’t affect your benefits.

Tony:  “Opening of the conference in Paris,  which is about closer international relations especially with France, expects to open with an announcement by the CBI about integration with banks.”  Also US banks are seeing rates on their screens, although there is one more step required before we can see it at our level.

361 caller:  For retired military personnel, can you get the contract rate if you go on post to exchange?

Tony:  That’s a good question.  I doubt it.  They are not that involved in this, so I think they will probably just give you the international rate.

972 caller:  What rate are we looking at for the dong?

Tony:  The last rate we got was a bit over a dollar.  The dinar has gone back down, and it’s possible that dong will go down as well.  That’s why I base my planning on 47 cents, and even at that rate, it’s a better deal than dinar (in terms of ROI).

209 caller:  If you had a choice between four banks, which would you take?

Tony:  I would go for WF in San Francisco, because that is their HQ and where all their larger accounts would be.  In Sacramento, I’d go to the main branch of Chase, or the main local branch of WF.  I have no problem with Bank of America, but I know WF is the foundation bank so they will have the best opportunity to do what I want to do, and Chase is making great efforts to attract new customers, and therefore offering benefits.

Caller:  I imagine many are going for the contract rates, so we’ll all be rushing to the phones.  Are they taking that into consideration?

Tony:  The numbers will be by Federal Reserve districts, plus a lot of people are nervous about the contract rates, so I think you’ll be fine.  Just keep calling until you get through!  I think the contract rates will be available for ten days, those who are willing to put up with the NDA and such.  The government is not going to be watching you day in and day out.  I am not worried about the NDA – although they will be watching me – because I am willing to receive even more money to fund my projects.

Caller:  With respect to the NDA, will they force you to bring in all your currencies? Or can I just exchange the dinar, take the contract rate and be happy?

Tony:  If they ask what you have, you need to disclose all your currencies because it’s partly based on how much you have in total.  That doesn’t mean you have to exchange all your currencies in the first appointment.  You can say, “I’m going to hold onto my dong until it reaches this rate;  if you are willing to give me that rate now, I’ll exchange it all.”  This is your money, and you can do what you like with it, even if the banks want you to exchange it all the first time around.  That’s their job;  it’s not mandatory for you.

Caller:  I could put all my funds in NIB for a year (to sweeten the bank)…

Tony: But why would you want to?  Taxes?  You’re still going to make more from investments than you will pay in taxes.  I think you can get the higher rate AND the interest from the bank, because the bank will get 1% per day from your deposit.  For myself, I am trying for the contract rate, and if I can’t get those rates, I will wait and get the higher rate on Forex.  Then I’ll go in  and negotiate how much to leave in the bank, at what rate of interest, plus whatever opportunities the bank can give me such as IPOs, new industries, and of course all my perks.  I’m gonna ask for it ALL.

610 caller:  if you are financially able to donate, please send your checks and money orders to Ray Renfrow, PO Box 1748, Elm City, NC 27822.  The address can be found at www.tntsuperfantastic.com;  click on the Donate button and send your check today.

808 caller:  I was given my currencies, and I’m now catching up with all the news.  I thought you said something about it benefiting Iraq for us to buy Iraqi currency through those auctions?  Could some of those notes be counterfeit, smuggled back to the US?

Tony:  That sounds a little unlikely to me.  Over there, they listen to our calls in the cafes, and that is okay.  However, the whole government doesn’t get together to figure out how they can scam the Americans.  The dealers are all audited by the US anyway.  We can take our dinar to any bank and have them run it through a de la Rue machine, or have them look at their currency book, and you can look at the seven details to ascertain if it’s legit.  I have never found anyone with counterfeit dinar in the US, although four years ago the FBI raided a house where they were trafficking in counterfeit dinar.  We are NOT driving the CBI or Iraq’s economy by buying counterfeit dinar.  It is being used in Iraq, on the streets and in other ME countries, but not in the US.  [In any case, at the exchange appointment the bank will verify your currency.]

Closing Statement

Tony:  It’s a great day, whether we know it or not – things are moving forward.  We know Iraq is still pushing it forward over there.  We are still within our window – by the end of the month. If not, the next day I am hearing is 2. July.  Enjoy the rest of your day.

RayRen:  Keep believing!

RayRen played I Believe:  https://www.youtube.com/watch?v=9DYrqOUKLtA

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