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 RayRat Call Notes 11/20/17

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PostSubject: RayRat Call Notes 11/20/17   Tue Nov 21, 2017 8:15 am

TNT Call notes 20-November-2017



Replay: 641.715.0623, PIN CODE 409029# https://events.iteleseminar.com/?eventID=103231326



[Fireworks and party sounds followed by Pomp and Circumstance] RayRen: Good afternoon, TNT super-fantastic family! Today is Marvelous Monday, November 20 2017, with yours truly RayRat98 at the controls.



We’ll get right into a little bit of information; as the tweet said, “things are looking good for this week.” I was hanging out in LA, so we didn’t have a call on Friday due to lack of news. So I will start with some intel for the intel-only people. There are some things we need to evaluate before the end of the year.



During any year, there are opportune moments to receive money depending on how it’s structured, treated, and taxed. We don’t speak a lot about how this funding is treated, but that will become important. Most of us look at how/whether it is taxed, and that will have a lot to do with how it is treated. These are all details that will come out in the wash. However, at this time of the year, even as we are anticipating the release of the RV, we have to address this question.



As soon as the release of the RV becomes prevalent, we then have to ask “should I make a move now?” When the RV is released, it becomes our choice or decision whether to make a move 100%, partially, or ‘not yet’. Those going for contract rates want to jump in right away, because the regular rate will never grow to the contract rates. Those who don’t want the contract rates and its NDA, those people will have to wait on some things. I’ve always advocated waiting to see what will take place in the coming days or months.



As we approach the last month of the year, if we don’t have the release this week, then we are heading into December. I’m feeling optimistic about this week, but realistically we may be looking at December, and therefore we might want to wait for another reason: for reasons of taxation. IF the exchange is taxable, and it is released any time between now and 1. January, then the tax will be applied immediately.



That means it’s effective for 2017, with the full brunt of taxable activity of what you did in 2016. If you wait until January 2018, that gives you all of 2018 to apply your tax strategies, because no tax will be due until 2019. You can at least put that money to work to generate some income to cover those taxes. So we need to look at the numbers and see which is the best way to go, mathematically rather than emotionally. So keep that in mind as we watch what happens in the next week or month. Let mathematics take the lead rather than your emotions.



Now, what information do we have to discuss. The most current information … there was some stuff over the weekend that was not verifiable. The proof is in the pudding and there is no pudding yet! We did send out this update on Sunday: It was reported that earlier today Iraqi TV interviewed Masoud Barzani announcing that the referendum has been officially canceled. [Now the celebrations can take place, I believe this is what PM Abadi has been awaiting!]



Contractors are expecting back pay distributed over a few 30-day segments. It is being cautiously expected for these back pays to be at the new rate! This is a big thing, because the PM was waiting for full unity in Iraq before economic reforms would be complete.



The referendum was cancelled, which indeed the Kurds was not viable according to the constitution. There is possibly an issue at Kirkuk and who has what now compared to what was arranged beforehand. We do know that the territorial boundaries have been secured to/by the government of Iraq.



There may be lingering issues around Kirkuk and Rawa for which they may require resolution; I don’t know of any other problems that would hold up this release. I don’t think the 2018 Budget will hold this up any further. I think everything has been done that needs to be done, at least from Iraq: announcement of the liberation and revaluation of the currency. People being owed money will be paid in monthly chunks, and celebrations are still planned.



Everything is set up for the biggest celebration ever to take place in Iraq. There were alerts coming into the weekend, and now we are having those again in some of our US banks. They are ready for anything to happen between now and Thanksgiving. However, when this pops, we may have to wait for better rates, and/or until January. Here are some numbers to use in our evaluation. Let’s say we take a one million dollar exchange, just to get an idea of the numbers.



Let’s say you receive one million dollars in a 30% tax bracket; that’s 300 thousand in taxes. If you have an investment at 12% per year, one month will yield $10,000. So you might pick up 10K and pay 300K in taxes. If you wait until January, then you have a full year to make 120K, even though you still pay 300K in taxes. There are also strategies to reduce your tax burden that we’re not going to talk about here and now. How do you find out your best strategy? By doing the math.



Questions from the TNT forum



Q: Just wondering if we have passed the date that you were given and waiting confirmation of for this to happen?



A: Yes and no. The original date I was given to look forward to, before it arrived that date was modified. The ‘expansion’ means the revised date has not yet come and gone.



Q: On the past few calls, you have been suggesting that we may be better off waiting to exchange our currencies after the toll free numbers are released. Could you elaborate on this? What intel have you received that leads you to suggest delaying exchanges? [RR: Just talked about that.] Have you received any further information concerning the 80/20 exchanges of the Zim? [RR: No.] Would you please share with us information you have received from people you know who have exchanged? Any heads up you can share?



A: Nothing new, nothing not already shared in the past.



Q: Has there been any word from dinar dealers about running out of dinar to sell??



A: I haven’t heard of any dealers having inventory issues/concerns – yet.



Q: Do you know any banks in Alaska actively exchanging dinar?



A: Nothing on my list, but I seem to remember someone mentioning such a bank in Alaska. If any of our Alaskan members know of any bank exchanging dinar today, please let me know.



Q: Do you know if the WTO reinstated the dinar? There was supposed to be a meeting with Iraq and WTO on Friday at 10am to do this with them.


A: Strange as it may seem, I haven’t heard anything about that WTO meeting with Iraq on Friday.



Q: Any recent information re caps on amount that can be traded at contract rates?



A: Nothing new since what we were told two years ago about contract rates. So nothing has changed as to what we have received here at TNT>



Q: Have you been made aware of any US Military Officers abroad that are able to make exchanges with any of the currencies that we are holding at this time or are they still waiting like the currency holder in the US (civilians / military)?



A: I haven’t heard of anything concrete about military officers exchanging outside the US.



Q: Regardless of the tax percentages, and not getting into politics, would we be taxed based on the day we exchange our currency in 2017 (ie., approximately 41 days) if for example we exchanged today.



A: So far as I understand, if this is taxable, that tax becomes applicable the day you exchange; it would not be prorated.



Q: Not a tax expert, but I believe if people purposely delay the exchange to 2018 thinking they wouldn’t have to pay the corresponding tax until April 2019, then your 2019 taxes will determine that you UNDERPAID taxes in 2018 and you may be forced to pay penalties. So, I believe when we exchange, we will be forced to pay quarterly taxes in 2018.



A: How could that be so? If you decided to exchange in 2018 rather than 2017, how can they tax you on something you don’t yet hold? I don’t see that. And who can force you to pay quarterly taxes? I think we need to discuss this 1:1, because what you are saying doesn’t make sense to me.



Q: I wanted to ask if I am correct in my thinking. The bank rates showing on currencies are the banks buy rates. If we are selling ours to the bank then we would receive up to 50% less. Is this correct?



A: I don’t’ know about the percentages, but YES, you are going to receive less than the rates we know exist. Let’s say the IQD revalues and the rate is $100, which would mean $100 per dinar. You go to the bank, and they will ask, “buying or selling?” If the bank selling to you, the rate is $100 per dinar; if the bank is buying it from you, the rate is (say) $90. That is how the bank makes its money, in the ‘spread’ between buy and sell rates. Every currency the bank handles will have the same difference between buying from you and selling to you. The savvy negotiator may be able to negotiate something closer to the sell rate, if they have enough for them to consider cutting their profit margin up front, especially if you are offering them a great deal on the back end.



Questions from live callers



865/404/770 caller: In the past, we have been reminded that there are still some missing laws in Iraq. I notice four more laws have been passed. Have they now passed all the necessary laws, and have they been published in the Gazette?



RayRen: I don’t think there are any further laws required. I still don’t know what those four laws were, so I don’t know if they are a missing piece of this puzzle. I think the missing pieces are the territories like Kirkuk.



Caller: I like it when you mention contract rates; what’s the latest on the length of time those contract rates will be available?



RayRen: There has been no mention for quite some time, neither on the contract rates nor the amount of time they will available. As there is nothing new to discuss, I assume there is no point asking or talking about it. I assume it’s still status quo, that there are still contract rates, and they won’t last long. We launched that twitter campaign a few years ago, and we were assured that it would be fair and equitable, AND that the contract rates would not last long.



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. You can also find the address at www.tntsuperfantastic.com; click on the Donate button and send your check today.



301 caller: I notice that when Iraq does any rate changes, it’s always been either in April or September. Do you think they will get off that schedule?



RayRen: Most definitely. They promised their citizens that they would revalue their currency for great purchasing power ‘in the coming days’, not April or September.



Caller: I hope they will wait until January because then the new tax laws will be in place, and in 2018 we will have more we can write off.



RayRen: I might wait until January for those reasons; I don’t want Iraq to wait until January. If they change their rates tomorrow, I might still wait until January. If I go to the bank, they are going to ask what I have to work with. Today, I could exchange my dinar at $900 per million, but I might ask for a loan to get me through the holidays.



What are most of us going to do between now and the New Year? Eat a good dinner at Thanksgiving, exchange some Christmas presents, and stay warm. I don’t need to have a lot of money until 2018 anyway! And there might not be taxes on this in any case. But I want to get my money working at a minimum of 12% per year, before I have to pay any taxes. Plus, there is the possibility of the rate going up do to market forces; do the math, and see what is the sweet spot for you to get the best deal.



There are some members who have no intention of riding the market, but they might understand this tax strategy to get them through to January, doing only what is necessary. Let’s say you need a car; you could get a few dollars and rent one for the rest of the year, and then buy what you want in January 2018. The same may be true of housing: rent something through the rest of the year and then buy something at the right moment. How many solutions are available for your issues and conditions?



We have to look past the ‘only’ solution to getting your situation resolved. Look at a number of ways and then choose the most beneficial. Personally, I am going for the contract rates for any currency I can, so I’m not going to sit on my hands. If there is no contract rate for Zim or rupiah or rial, then I may decide to wait on those currencies. It’s a matter of ‘if the glove fits, wear it’; your size of glove may not be the same as mine.



If you are going for contract rates, go straight to the bank; if not, wait and assess the situation. Yes, a bank might say, “We will do X if you leave Y percent under our care”, and if the numbers work for you, there’s nothing wrong with that. Let them handle it, so long as they cut you a check every month, or every quarter.



That is a completely different from what happens when you sign an NDA. If you sign an NDA, you’d better be prepared to keep to the terms and NOT DISCLOSE those details. But that is totally different than making a agreement with the bank for them to hold your funds in exchange for higher rates or better perks.



423 caller: When I discussed this issue of waiting until January with my husband, he said that the tax return asks if you have foreign currencies and pay tax on its worth.



RayRen: Since when do you pay tax on value? You pay income tax on money you have paid, not money you are holding. So that question would be about whether you’ve made money on those dinar, not if you are holding dinar. I’ve never heard of anyone being taxed on simply owning currency… although they will tax anything you have made IN other currencies, such as earning an income overseas. All money is not taxable: if you get insurance proceeds or a grant, those are not taxable, although they may want information on all the money you have received. This is where we let our professionals help us understand what is taxable and what is not.



208 caller: Do you feel this will happen before the end of this year?



RayRen: Based on the information I have, yes.



918 caller: In your update on 14. November, you said something about knowing a date that the RV might be released…



RayRen: I responded to that earlier; that date was extended, and we have not yet reached the extended date. We are still in that window, and I do believe we will see this before Thanksgiving.



409 caller: When the rate fluctuates, we are fearful that it will be short window and might miss out by being patient.



RayRen: What do you think will be a short window? When the rate goes up? Let’s address what I think will be the reality, and I will use hypothetical numbers so everyone can follow this example. Currency will come out at (say) $100 per dinar. That is the established rate for the country’s currency. The market will buy, sell and trade the currency; there will be a frenzy and that $100 will climb to $200 but only for a few days. That’s what we mean by riding the wave – why exchange on Monday for $100 when we could get $200 on Wednesday. Fairly quickly it will drop back down, but it won’t go below the international rate, and there will not be a window for exchanges in general. It’s the international rate – you’ll always be able to exchange at that rate.



IF they do decide to put a time limitation on exchanging these currencies, we will find out and we will let you know. I can’t see it happening, but if it does, we’ll let you know.



410 caller: So… let’s say we go in to exchange now, will there be tax implications this year? And then the tax laws change in 2018 – will there be a double whammy?



RayRen: If you exchange before the end of this year, taxes will be due in April 2018. If you exchange after the beginning in 2018, you will start paying taxes in 2019.



Caller: I’m going for the contract rates – is it worth doing that if this is taxed?



RayRen: A lot of people get freaked out at taxation; I know people who have refused to take up good opportunities because they’ll pay more in taxes. Let’s say you take up the international rate at 1:1, and you pay 500,000 in taxes for one million dollars. If the contract rate is $20, you pay 10 million in taxes, but you have 10 million to spend or invest. We have to stop the IRS preventing us making sound moves based on what you THINK they will do; hire professionals who can give you sound advice. It’s going to be a different economic reality, and it will be so worth what you pay your professional team. [Caller agrees.]



386 caller: Re: Zim, will there be a time limit on how long we can exchange it?



RayRen: I really don’t know the details on Zim, but I do know we will get something for it. The minute I find out the details, I will tell you – unless you find out first, and then you can tell me!



Folks, sit on everything except Zim, if there is a time issue. Some information I have received tells me that Zim is going to be around awhile. When I feel better about that, I will share it with you. We are being positioned so that as soon as certain information I’m looking for comes in, out it goes to you.



OH caller: Are you having a call on Wednesday and Friday?



RayRen: That’s the plan right now.



717 call: I plan on doing the contract rate; if not, I realize the market may fluctuate and double the international rate. Can I digitize my dinar and leave instructions for the banker to exchange when I get to a certain rate?



RayRen: I don’t think you can digitize dinar in the US.



501 caller: Everyone is talking about taxes, Nobody is talking about the regulation in the IRS code saying that if you obtain a large amount of money before the end of the year, you have to send in an estimated tax assessment. I didn’t do that one year, and got fined a LOT in the following year. It’s there in the fine print if you look it up.



RayRen: I meant the full tax would be due in April; you do have to file quarterlies, and that means you shouldn’t have to pay too much more the following April.



KAZ caller: If your information holds, and if it goes this week, do you think that banks will be open on Thursday and Friday?



RayRen: It’s possible that some may be. Last year people were on call at Thanksgiving, when we were expecting this to go last year. If we find out that is a fact this year, we will let you know.



Caller: [cannot understand this caller] I heard that we will not be taxed on the currency you bring into the country – that the exchanger/dealer has to pay tax. So we won’t pay tax because the dealer has already paid the tax.



RayRen: I don’t know anything about that. However, it’s perfectly possible that the dealer will be taxed, and we will be taxed as well. Let’s say your company paid tax on its profits; you would still be taxed on your income from the company, or your share of the company profits.



805 caller: You’re talking about waiting until January… just how long do you think the market rates might appreciate?



RayRen: I only mentioned January as a tax strategy. I think the market rate will take off very quickly, so if you’re watching the market you need to exchange at the rate you are comfortable. You need to watch it every day, kind of like playing the stock market. I can’t see it going high for more than a week. When the enthusiasm wears off, it will bottom out again at the international rate – so we can’t lose. But if it pops this week, for sure don’t wait until January if you want to ride the market wave. Those who don’t want to ride that wave, and don’t want the contract rates, those people might as well wait until 2018 – if it is taxable, and we just don’t know if it will be or not.



Caller: Also, the dinar may rise at X rate, and dong might go up more slowly.



RayRen: That’s right. If you are holding multiple currencies, you need to track each one separately. The good news is that there will be some information on rates and trends, so it’s not as much a guessing game.



Caller: in chat the other day, you said something about nine currencies, and that some may come out at the same basket, but others might not.



RayRen: There are all these things that are supposed to happen, but no one knows for sure. I have been told that there are nine in the first basket, with 4-5 coming out in the first minutes, and the rest in an hour or a day, closely thereafter.



So I believe 24 hours will not hurt, unless you are going for contracts. Let us find out as much as we can, and then you can make an informed decision. There might be a window to move on the first 4-5 so you can position yourself better on the next 4 or 5.



Closing Statement All this information pertains to the group, not to one particular person and their unique circumstances. You have to pick which drum you want to move you, and what rhythm you choose. I’m just trying to give you the information I have; you have to choose if you want to move to 4/4, 3/4 or whatever.



Some will move lightning fast, others will wait for weeks; I don’t know your strategy. My focus is on giving you the tools to get you there, and so far as I’m concerned we ARE there. I can’t do any more to prepare you for this RV. If you don’t believe it’s happening, there is nothing more I can do for you.



For those who are ready to take advantage of this, who are saying “I want to get one billion or one trillion out of this”, that’s who I am talking to. You can get a car or a house with a job; I’m looking way beyond that. I’m looking for a bigger result at the end of all this…



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

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PostSubject: Re: RayRat Call Notes 11/20/17   Tue Nov 21, 2017 11:24 am

I'm looking for an end to your spewing bull crap ... the result I want to see is your lying ass in the slammer for the fraud you are perpetrating upon the gullible and desperate.

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PostSubject: Re: RayRat Call Notes 11/20/17   Tue Nov 21, 2017 8:46 pm

Hap hazzard castration comes to mind, while he's hanging upside down--
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