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 RayRat/Tony Call Notes 3/19/18

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PostSubject: RayRat/Tony Call Notes 3/19/18   Tue Mar 20, 2018 5:35 am

(Notes by Adept1) 

TNT Call notes 19-March-2018

Replay: 641.715.0623, PIN CODE 409029#


AUDIO REPLAY LINK

[Music: It’s done, it’s finished; the RV’s on its way…]

RayRen: Good afternoon, TNT super-fantastic family! This is Marvelous Monday, March 19, 2018, with yours truly RayRat98 here, along with…

Tony: Gooood morning, TNT! I hope everybody’s okay.

RayRen: These are the updates from the weekend. Saturday updates:

  • Iraqi TV is broadcasting payments for citizens in large volumes. 
  • Iraqi News is showing the lifting of the international ban on all Iraqi stadiums. 
  • March 21 is being determined a holiday, all Iraqis are being told they will have payments by this date. 
  • Still no rates shared by those citizens who have received payment already. 
  • Iraqi TV was broadcasting the House of Representatives stating that the Ministry of Finance will launch the 2018 Budget in four days, just inside of the supposed 15-day deadline. 
  • So far, three bank sources have reported seeing rear and “Front” screens populating with supposedly “live” rates. But, of course, all of the banks are closed for now. A member has shared an “unconfirmed” report of certain exchange personnel reporting to work on Sunday morning. Woo-hoo! 

Sunday morning:

Iraqi TV broadcasts that the CBI has launched electronic banking throughout Iraq stating that all citizens will now be paid via this new system. Even the Kurdistan region has ceded its banking operations.

Written articles have surfaced stating the following:

  • The Budget will go forth as written, even if not approved by the President of the Republic, Faud Masoum. 
  • The House of Representatives formally addressed the Ministry of Finance to launch allocations budget in 2018 after 15 days from the date of sending to the Presidency of the Republic. [Of course, we shared this earlier already.] 
  • Warka Bank has informed its clients that they can now purchase Warka stock from the funds deposited in their bank accounts to participate in the Capital increase. The value will be (1) IQD per Warka share. [what could THAT possibly be worth?] 
  • The budget will be posted in the Official Gazette fifteen days after the ratification. The House of Representatives is considered to have ended the vote on the budget and there is no violation of the Constitution.




RayRen in chat: “Unconfirmed” ranges for live rates: dinar @ $3.71, dong @ .47, rupiah @ $1.08, Zim @ 10 cents (actually 0.00000010, so 100 Trillion = $10 million).

Be ready so you won’t have to get ready. ‘Front screen’ reports are coming in; rates are populating! The rial has not appeared on the front screens yet.

Tony: There is not a whole lot beyond what Ray said. Kurdistan region is getting paid today; all their money has been moved. I got a week and a half ago that the Budget was published in the Gazette, just not been made public. I see that it is in the Gazette today – it is there today. Now that it is finalized, the IMF, World Bank and US are all happy.

There are two things I know about Iraq: bank people and government people over there are both saying we should see the lower denominations between now and the 21st. The 21st is a holiday (the Persian New Year) and a ‘new day’. Also we should see a new rate between now and the 25th. They are saying that on the 21st they are starting life over again in Iraq, moving from darkness into light.   Judge's email/phone:  ksd_murguia_chambers@ksd.uscourts.gov  913-735-2340  DA's email/phone:  Scott.Rask@usdoj.gov   913-551-6730 Their country is becoming prominent again as one of the ‘seven tigers’. They are looking for really good things to happen between now and the 25th. There is a three-day celebration in Kurdistan and one day in Iraq on the 21st. Today is the 19th, so it’s not far off. We’ll see what happens on Wednesday

The US banks are frustrated because they all thought it would be last week, and they got all geared up. They are highly upset, having told their people not to take any time off. Everything is moving and in place; everyone is ready to go. On Saturday night, I got a phone call saying that three banks in different states had live rates. That was around midnight on the East Coast, 9pm Pacific time. I got all these phone calls, people were all excited. I just said we needed to wait until Sunday morning or Monday to see what was really happening, and by then it had subsided. We had people in six different states at the one bank, and two others from other banks. When all the banks are lining up, then we will know it’s live. We used to say the rates were live on the front and back screens in the past, and it was always on Friday evening at midnight. The rate would be live for an hour or so, and they would be processing VIPs at that time. So I imagine they were processing some people this time as well.

The rates on the front and back screens were $3.77 for the dinar, 47 cents for the dong, and ten cents for the Zim. We hope that is the last time that happens before we all get to go to the bank.

That’s all the news, really. In Iraq they are telling the people they are expecting the rate to change by or before the 25th. I’m calm and realistic. They had to force feed the Budget to the Kurds, but at least they are being paid. By the 21st, everyone should be paid, and have everything caught up from years worth of arrears. Then it’s a new day for Iraq.

I got a long letter about how they cannot find the Federal Reserve districts – which are freely available on the internet. Or you can go to bit.ly/800districts.

Thanks for the birthday and anniversary wishes.

Questions from the TNT forum

Q: Did the people the banks wanted to go through first get done?
A: I don’t know, but I think that’s the only reason we saw those rates. Also, is the reason we don’t know the rates given on the Iraq cards due to the card holders are afraid to say?
A: Even this morning, our sources would not give the rates. I did talk to some people who have not been paid yet, but they said people have been paid at the regular rate, not the new rates. They are paying everyone at the old rate until they get everyone is paid up. They are paying every dime that is owed, and then they can have a clean sweep.

Q: If the customer decides that he wants to open a trust for his family who can he put as the trustee so that the trust benefits him and his family?
[Tony: Family members.]
What type of trust would you recommend?
A: I recommend complex trusts.

Q: Is the 80-20 on the Zim back? Is it limited to 100T?
A: Don’t know – haven’t heard anything on the Zim yet, and the banks haven’t been updated at all. They still seem to think they will take it all with 25-year payouts. I know what the committee wants to do, but the banks have not heard any changes.

Q: Have any other banks reported their rates on the screens this morning?
A: No. Banks are reporting NO rates on screens today, and that could be a good thing.

Q: If we only have one or two dinar, and want the contract rate, do we ask the teller, or have to call the 800# to get an appointment for that? And to the best of your knowledge, what is the tax situation on the contract rate?
A: Where did you get one or two dinar when the lower denominations aren’t out yet? If you mean one or two notes [e.g., 25,000 dinar notes] then you have to call the 800 numbers if you want contract rates. For any rate, we have been told there are no taxes.

Q: What is the wisdom of, before calling and setting an exchange appointment, for my wife and I to separately go to a bank teller and exchange a million dollars worth of currency? As insurance against appointment delays.
A:

Q: Any determination if Pre-tax status applies to state taxes?
A: We have covered that several times. State income tax is usually based on your federal income tax returns. Nothing on the 1040 means no federal income tax, and no state income tax.

Tony has said the Zim might be .147 cents, and Ray mentioned .10 on Sunday’s TNT morning call. Has there been a determination on a rate adjustment, or method of calculation (zeros following the decimal)?
A: The ten cents is what the bank showed on its screen. That doesn’t mean it is what you’ll get.

Q: When we exchange our dinar if we get 20 million on the contract rate can we exchange the rest of our dinar using the bank rate let’s say 4.00 or what the actual rate is? Will they take the rest of our dinar away beyond the 20 million or can it be exchanged?
A: Nobody is taking your dinar. So far as we have been told, IF contract rates are still available, you can exchange UP TO ten million DINAR at the contract rate; above that you can still exchange at the international rate ($3.50 to $4.00).

Q: We take the contract rate and sign a NDA does that affect our Zim or dong or dinar beyond the 20 million?
A: The other currencies will affect how much of the contract rate you will get. If you sign the NDA to get the contract rate on dinar, it applies to all your currencies, at any amount. So if there is a penalty for breaking the NDA, that will affect all your currencies, so be careful what you are agreeing to.

Q: There has been some discussion “within the community” that the Lead Banks will be willing to set up “skeleton trusts” for those of us who, up to now, have not been able to set up trusts prior to the RV, giving us a safe place to park our money until we are able to hire our own professionals. My question is, ‘If this is the case, would it be possible to then move the money(s) from this temporary, skeleton trust into our more permanent Non-Statutory Private Trusts and will that strategy provide us ample protection from any further tax liabilities as would – or might be the case by just leaving it “hanging out there” in a public bank account?’ Would there be any other protections this might provide for us such as maintaining a higher level of privacy?
RayRen: You have some serious misconceptions. The money is going to stay in a bank account no matter what – whether you exchange under your own name or into a trust. I don’t know anything about ‘skeleton trusts’. At the level we are operating at, you will have a private banker anyway. If you are moving money from one trust to a separate trust, then it will be taxable. If there is a link between the trusts, that should just be a ledger transfer. It all depends on how you do it. If the bank creates a skeleton trust, and then the person creates a family trust, then that would be 100% taxable. Ask your tax professional. You need to know and understand why you are doing this crazy stuff anyway. Tony: If you aren’t in during the next two hours or two days, call the bank and ask what you can do with your inheritance or whatever excuse you want to make. Ask the banks those questions NOW, before you go in. They can advise you about what they can do for you, and how much it will cost. Then those questions will be answered.

Q: Tony has suggested that the Zim could reach the rate of nearly a full dollar in the distant future of almost five years time. What could a person expect to yield from this long term investment at that time?
A: Whatever you have in Zim x 100 million per 100 T note. I do think it is unlikely that when it hits a dollar you will still be holding 100 T notes. If it does happen and the note is still good, you’ll get dollar for dollar. You’ll have to watch it closely for that period of time to make sure they don’t discontinue the notes. In Iraq, if you don’t exchange during the next two years, they are no longer valid. If you just want to gamble, get an account at a brokerage firm, buy this currency, and let it sit there until you want to sell it again if/when the rate is a dollar.

Q: Is the Afghani still in the first basket? [Yes.] Any current rate information?
A: It’s $2.39 last we heard.

Q: The areas for the 800 numbers are basically the Federal Reserve districts.. Will the Federal Reserve have a part in the exchange locations?
A: No, the banks are doing the exchanges and providing exchange locations.

Q: I’ve had two trusts and a foundation in place for some time with currencies assigned to each. When I call the 800 #, do I make appointments for each entity?
[A: Yes.]
Will they recognize each entity separately when it comes to cap rules?
A: You will have to ask them and see.

Q: Are Dealers going to be doing Exchanges as well as banks?
A: Well, they will still be dealers after the RV; if I’m doing business with a dealer now, I would ask that dealer about their intentions post-RV.

Questions from live callers

TX caller: Do you have an opinion about Abbott Downing?

Tony: They are set up to be good; you have to have 50 million or above.

951 caller: When this rate comes out, where do you think we’ll see the new rate first? In the Gazette or from Abadi?

Tony: The CBI is in charge of the rate, and they are autonomous. They will put out the new rate in Iraq, and I have no idea of how they plan to do that. It will have to be something that reaches everyone at the exact same moment.

Caller: I don’t have the money to establish a trust right now, so I plan to exchange into a private account, and then transfer the money into the trust. Is there tax liability on that?

RayRen: I think you can do that, or at least, I don’t see why not.

423 caller: You must be getting tired.

Tony: But we are at the end… all we are waiting for is for the lower denominations to come out. The Budget is out, it’s the law, everything is finished.

Caller: You said that for the first ten days, only WF, BofA and HSBC will be exchanging.

Tony: On our call, they said ‘for the first seven days’ for Wells Fargo, because they are the lead bank. I asked people at other, smaller banks, and they are saying to come in because they will do exchanges, BUT they have to ship your money off for verification, so it will take just as long. WF is actually where tier 2 banks’ get currency authenticated. Also, WF and the other lead banks will let you exchange through their affiliates. When this goes, it will be live at all the bank branches; however, they may not all be exchange locations. They have changed that in the last two month – now they are saying that people will be able to exchange at the teller level (if you have less than one million). Now they do seem to be including all banks and branches; otherwise there will be confusion.

Caller: Anything on the NDA?

Tony: We haven’t received it yet. If I were an everyday ordinary person, I would go in there and sign that NDA in a heartbeat so I could get my extra millions. Believe me, I would sign it. There are eight million people out here, and they did the NDA the way they did to scare you away from signing it. They don’t want you to have this money! But you are not going to talk about this money anyway, if you don’t intend to write a book or make a movie, then there are not enough agents to watch eight million people and everything they do and say. They are not going to watch you for the next year unless you do something blatantly obvious. Why would you leave millions on the table because you’re scared to sign this piece of paper? No one’s going to scare me out of my future.

773 caller: You talked about the Zim and the rates on the screen; you said that they can always change because they are based on the price of oil. Looking at the price of oil over the last year, who’s to say they won’t manipulate it so that prices go down rather than up.

Tony: They are coming out at the bottom rate they want to be at. They want the hedge funds and such to be invested in Iraq’s economy. They want the price of oil to go up, which means that oil production goes down so that it becomes more valuable. Other that that, they want the rates on Forex to go up to attract more investors. In fact, they ALWAYS manipulate oil production and prices. OPEC does that 3-4 times per year; that’s what they do. The currency will not go down before the international rate that Iraq wants; if anything, Iraq will push it up 2% every 90 days.

610 caller: if you are financially able to donate, please send your check or money order 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.

806 caller: I gave two 25K dinar notes to friends, and I want to give them the 800 numbers so they can get the contract rate and sign the NDA without compromising me.

Tony: That’s the right thing to do, if you want them to get the contract rates.

Caller: I’m from a small town in Texas with a Bank of America and a Wells Fargo. I have no way to get information beside this call. Will I get the 800 numbers from you, or what?

Tony: It doesn’t cost anything to get our tweets – just sign up for our Twitter list. Do you get a text every Monday, Wednesday, and Friday? Then you are on our list already.

818 caller: I heard they are already exchanging lower denominations in Baghad? If so, there would have to be a rate.

Tony: Nobody I have talked to has received lower denominations yet.

Caller: If you exchange in your own name and then create a trust and transfer money into it, is that taxable?

RayRen: My understanding is that if you are the grantor and you grant those funds to the trust, then it is NOT taxable (up to 50 million dollars). Please take professional advice.

Caller: Will the Philippine peso be part of the first basket? [Tony: No.]

972 caller: When the intel came out about dinar being used on the stock exchange for the Warka Bank, and the ticker says the cost of one share is $1.26, does that mean the rate is also 1.26? If they can use one dinar to buy one share…

Tony: I don’t know. According to Warka, their stock is a penny stock. That means you can buy a share for a penny while everyone else is paying 1.26 dinar, they are giving you a break because right now one dinar is worth less than a penny, more like a tenth of a penny. Also, the Stock Exchange is saying Warka bank stock is worth one dinar, not one dollar. Let’s see what the price is once the rate changes…

316 caller: Last week you said I’d need a Power of Attorney to do the exchange for my relatives are out of the country. I did that. Does each person need his or her own Bank of America account? Or can I make the exchange and transfer into their accounts? I’m the only one who has a BofA account right now.

Tony: You don’t’ want to just do the exchange – you want to open accounts for them as well? I don’t know if you can do that. Take your Power of Attorney to Bank of America right now and ask if that Power of Attorney will allow you to open bank accounts for them. Ask the bank what you can do with those Powers of Attorney!

Caller: Did I hear correctly that there is no longer a contract rate on the dong?

Tony: That is what we have been told.

Closing Statement

I know we’re all getting tired of hearing we’re done, done, done… but we are so close. The currency IS international, and we’re just waiting for the rate to change. Everything is done, including the Budget. The banks are ready to go, thought they would go last week. The CBI has the power and authority to change the rate. They will activate it from their sites in Iraq and Texas, and we will go live at that time. The back wall they have been given is the 25th, and today is the 19th, so this party will begin. Take the time to call everyone you need to call about trusts, foundations, banks, all that. BE READY for the 800 numbers; when you get that tweet, your mind will go blank. Have it all written down – your plan should be already done. Make your decisions now. Enjoy your Monday.

RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA
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PostSubject: Re: RayRat/Tony Call Notes 3/19/18   Tue Mar 20, 2018 10:38 pm

Quote :
I know we’re all getting tired of hearing we’re done, done, done…

No, we're all getting tired of hearing you lie, lie, lie ...

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