Replay: 641.715.0623, PIN CODE 409029#
RayRen: Good afternoon, TNT super-fantastic family! This is Wednesday, June 20 2018, with yours truly RayRen98 here along with Tony.
Tony: Good morning, TNT!
RayRen: Let’s just jump right in to today’s information!
Tony: There is a lot of information and craziness out there. Iraq put out a lot of OLD articles about Sadr and the various blocs, all stuff we knew anyway. The Federal Court says that it will make a public tomorrow, and everyone agrees that decision is final. There are articles saying they have already decided that the cancellation of the votes in Kurdistan and abroad is illegal. They can’t do that, so Parliament can’t do what they did. Sadr will form his group, Abadi will be named PM, and life goes on. That’s what I see clearly in my crystal ball.
The word from the bases over there is for everyone to turn in their US dollars, and they are receiving 88 cents per dinar. They want all US dollars out of the country.
Some people said we would RV today, and others say that we will RV tomorrow. I’m not sure that will happen, although they can do that at midnight tomorrow if they want to. I do expect this by the end of the month. They did put the lower denomination notes up on the boards, explaining the process. We are told there is a strong push this week. This has happened before, all the education and explanation. The difference is about WHEN it is to happen. We’ve been hearing ‘imminent’ and ‘in the coming days’. Then we went to ‘a couple of days’. Now they are saying everything is going to happen ‘shortly’. People are very positive and excited over there. No one wants to go into July without a PM and Parliament in place. Everyone wants to go into July with a new rate, and I think that will happen because of everything that is happening.
Some people think this will happen once the new Parliament is in place, l.e., in July. However, it’s supposed to be a surprise, so I think they will have to do it before that deadline, when the whole world it expecting it and can manipulate it.
Maliki is trying to get all the Sunni blocs together, under Iran’s influence, to take over again but nobody sees that happening. Sadr’s group has the numbers; all they need is 165, and Sadr’s super-group has 220, so he’s way past that majority. I do see that happening – that is, Sadr and Abadi as PM. Effectively, it’s Iran against the US + UK + Saudi Arabia. That’s the only way to get change. The US says it will deal with Iraq as a sovereign nation, whoever shows up… so long as we approve who shows up. Everyone is meeting with the US ambassador. We are saying we will follow democracy and what the court decides. Maliki wants the Shi-ites to still be in the government, with him in change, and I understand what he is trying to do. However, Abadi will be Prime Minister, and they will start arresting people, and re-start the investigation into Mosul and how that occurred. That puts Maliki back in the bulls eye, because he allowed that invasion. They can take him out once M is out of power and out of Parliament. And we’ll all be too busy with out own projects by then!
Questions from the TNT forum
Q: I’ve been wondering and have not been able to find the real skinny on what I’m thinking. I talked with the bank and they didn’t understand or didn’t want to understand. I’m trying to come up with a plan which will benefit the BANK and me when I deposit 50% of total funds for possible taxes. If I take 50% of the total and place it into a 6 mo. Or 1 yr. CD, until we can get a firm answer from the IRS or whom ever at the time. ( I always dial into the recording) Will the bank still be able to use the fund’s to loan out overnight, leverage, etc. (bank makes money). This way I get a safe account (so to speak) and the bank makes money at the same time. A: I don’t know if they can do that with a CD, or if it’s already being used inside the bank. I think you need to ask a banker, or ask in the forum if anyone works in a bank. I don’t know the answer, if they still get the overnights or not. Someone I know who got the overnights is in a major city in the US. He works for the city council, they put him in a low position, they gave him this money, and he worked with the bank to get a portion of those overnights directly into his account. He then became the largest money-holder on the council, and he ended up with the most money and power. He bargained with the bank and that gave him the power in the council that they didn’t want him to have.
Q: Tony, some time ago, you told us to “get a professional to watch your professionals”. What was the term you used to describe that person, or that group of people? A: Auditors… and set up auditors to audit the auditors!
Q: Has their been any updates to the procedure for veterans to be able to exchange at a local base, or do we just have to wait for the RV before calling them? A: Wait, the same as I told you last time. There will be a short window for them to participate. As soon as this happens, I will call and find out the procedures. It will not be possible on every base or finance office, I know that for sure.
Q: Many people are in some group such as the Admiral’s group or others. A lot of people gave up some of their currencies to be in the group but not ALL of it. And many bought more as the time became extended. How do we handle our personal exchange when we’re in a group too? Do we tell them of our group currencies? Do we not mention them? Will a personal exchange affect the group exchange or vice versa? Do you know of the protocols? A: I don’t think one will affect the other. There is no harm in telling them you have currency in a group. Be honest if they ask the question. If I had my money in a group and knew I would not be paid in two weeks or months, I have talked to some paymasters, and one said that they would not be paying out more than five million, period! Some of these groups have had their members pay over their money and it’s at the paymaster’s discretion how much they get paid! Take whatever you have to the banks and get what you can, and move on with your life.
Q: Can the world Bank, IMG and CBI make the change in rate of the dinar, or does Abadi or someone else make the call? A: The CBI makes the call, just like our Federal Reserve would make the call – not the President or Congress.
Q: IF Iraqi officials lie all the time. How can we believe what they are saying now about completing the RV / RI by the end of June? A: Listen to what they say, but believe what they do! They are bringing out international Visa and MasterCards with the limit of eight dollars (at the old rate). Why would anyone do that? We are watching what is actually happening, and my crystal ball says “by the end of the month”.
Q: I understand that we can set up several bank appointments, so that we can choose the best rate offered. Are there any tips you can give us regarding sequencing or timing of those multiple appointments? Tony: I’m going in, getting money, and making money with my money. Ray: I don’t think there is any sequence or timing if you are just looking for the best rate. It’s not like buying a car or house. It all depends on your level of patience, when you want to make your appointment.
Q2: For those of us in groups from long ago, would you recommend making the group appointment first, before 800 # appointments? A: You’re not making a group appointment; your paymaster is exchanging and telling you when you will get yours.
Q3: If we don’t have the funds to set up a trust pre-exchange, what do we most need to know about the banks’ temporary trusts to protect ourselves? Ray: Why do you need it in the first place? You don’t need a trust before exchange, so I don’t see the concern. Most people don’t need a trust at all, because this is not a taxable event – unless you are likely to have a lawsuit pending against you. Otherwise, you’re going to move it to your trust and foundation after the exchange.
Q4: If our currencies are held in the name of an LLC, C- or S-Corp now, do you recommend that we exchange in the name of that entity? Ray: If the entity already owns the currency/asset, then you cannot do otherwise than exchange it through the entity. Effectively you gave that currency to me (the entity), and you cannot do what you want with that money because it’s mine. That entity can then tell you to buy a Maserati, or whatever you want to do.
Q: You need 10 million in currency to use the redemption centers, right? [No; the point is that the call centers will tell you where to go according to how much you have.] If you have under $10 million, you can ask for $28.50 per dinar. [No, that is if you have under ten million DINAR, not dollars, you can ask for $28.50, which IS the contract rate.]
Look, if you have over a million dollar’s worth of currency, you need to call the 800 number and ask where it is best for you to exchange your currencies. If you have less than a million, you can go to the teller. If you ask for the contract rate at your appointment, then the banker might well say, “If you have a million dinar, I will give you the $28.50; if you have 10 million dinar or more, I will give you the contract rate for part or all of that dinar.” It’s up to the discretion of the wealth manager. They still haven’t been briefed, so take in ALL your currencies and ask for contract rates, if that is what you want to receive. If you don’t ask, you definitely won’t get the higher rates.
Questions from live callers
951 caller: You mentioned the Federal Court in Iraq will make that decision tomorrow. Do you think they will announce Abadi as the PM first? Or RV first?
Tony: I think they will announce that the Parliamentary actions in dismissing some of the votes were illegal, that the Electoral Commission will announce the results, those will be validated by Parliament, Abadi will be PM, and we’ll roll from there. Meanwhile the banks are being really quiet, and I think that is good because they are finally where they need to be to exchange. There are no memos or rumors because they are that close to going.
631 caller: Do you think they will make us wait those ten days?
Tony: They meet tomorrow morning at 10am Baghdad time. They will discuss everything and come out with their ruling tomorrow. Either they will recount the 10% or certify the vote. They will ask the largest bloc to nominate the Prime Minister. The new Parliament doesn’t meet until 1. July and they have to validate the new PM. They can do it before then, and many think they will as soon as this is resolved. They already know who the new PM will be, and they want to move forward. We’ll see. The CBI can release this tomorrow if they choose. It’s not dependent on the election.
321 caller: Ray, can a nonprofit family foundation receive donations?
Ray: Private foundations cannot solicit donations, but it can receive them. Only public foundations can solicit donations. What you want is a private foundation, though. If you want to ask for donations, create two foundation: a private one and a public one. The public one asks for donations, and the private provides resources to the public one.
Caller: All my family wants to contribute, but not everyone works. How much can they donate to the foundation.
Ray: Whatever they want. Do you intend to let them make decisions on what charities you give the money to? If not, don’t let them donate.
Caller: Our plan is to let everyone rotate those responsibilities.
Ray: You may need to create several foundations, because the core foundation should be controlled by you and your spouse only.
Caller: If I go to the bank and they offer contract rates only for the first four million, can I take my remaining six million and wait?
Tony: I can’t tell you because you are the one making the deal at the appointment. You can try; they may come back and say they will only give you contract rates if you exchange everything there and then.
Caller: Can you tell me more about the Dynasty Trust to protect wealth for generations?
Ray: I can’t say anything about that – a caller mentioned it on a call, but I don’t know anything about that. You can look it up on the internet – Dynasty Trust or Blood Trust. You need to do the research and talk with an expert about who to include or exclude from your trust.
Tony: We talked about this over the years. Be very careful and cautious with older individuals who are getting government checks or in care homes. Either they have dinar and want to exchange, or receiving dinar (or cash) from friends and relatives, but this can disqualify them from the benefits they are getting now. PLEASE INVESTIGATE FIRST, before you start giving out money or before they exchange money in their own names. Even giving your mother a monthly check for $1,000 can disqualify her from receiving benefits.
Ray: Focus as best you can on learning the difference between owning and controlling. A lot of problems are about owning, and with that comes all these headaches. Learn how to put people in control of things rather than having them own things, even money. Instead of given people money every month, see what problems you can fix, or pay directly for medicine – that is money that is not considered income. See what help you can give that doesn’t count as income. Be a benefit, not a detriment. It doesn’t matter how good your intentions are if you’ve already done harm.
281 caller: About the NDA – I was told it was 12 pages. We wrote a proposal of what we want to do, to present to the bank. We were told by one person that it be for veterans, homeless people, orphans and such.
Tony: The proposal has to be for humanitarian projects has to be for something in Zimbabwe IF you want contract rates for the Zim. You don’t need humanitarian projects to get contract rates with the dinar or dong. But for Zim, they will have to approve projects that have to do with them, especially with an 80/20 split. [That means you give 80% to the projects and you keep 20% for your own life.] You would be the project manager.
Caller: Can you exchange at two different banks, like WF and Bank of America?
Tony: Let’s say you split your currency into two parts. You can go to two banks and tell them that you will leave the money with them, and see how they do. Then you tell them upfront that you will move all the money to whichever bank performs better.
Ray: What is your purpose in using two banks?
Caller: One account in in my name, and the other account is with my husband.
Tony: Your husband needs to call me before doing that!
865/470/404 caller: So… Eid is over, and we haven’t heard anything about ISX.
Tony: Three weeks they thought this would happen during Eid, but they also thought the court would rule before tomorrow. So it could happen today, but I suspect we are waiting on the Court ruling. Either way it should be released by the end of the month.
Caller: There is a company that analyzing developing countries, and in their report on Iraq they mention an arrest warrant for CBI Governor Shabibi.
Tony: In 2012, they did attempt to do the RV, but Maliki put a stop to it because he wanted to grab the money. So the arrest of Shabibi was a political move. They attempted to do this 5-6 times because of the exchanges 4-5 years ago. But that has been going on in the background. Right now we should see the public RV.
We get pieces of information from everywhere. People send me that this person said or that person. Some is total nonsense, but some of it is helpful in the right context. I get to go and verify the information. I get information about the rates; Ray has a grandma on staff who talks to her son who is in Iraq right now. We have her ask him this or that, and he gets back to us with rates or restrictions, or whatever. I’ve got a guy in the Green Zone (in Baghdad); he owns a shop, and his son owns a shop here in the US. I ask the son questions, and he asks his dad in Baghdad. We try to verify at that level, and also with contractors, with banking sources, and government people. I try to piece it all together and verify/confirm what I can. This is not just about Iraq; other countries are taking part, and it all has to fit together for this to work. That’s why we have international traders and bankers who have to be notified.
678 caller: I believe I heard you said that we are tier 4, and that the Admiral’s group will be paid before us, but with SKRs.
Tony: No. SKR holders have already exchanged – that would be tier 3. All the groups will get paid on the same day you do. The groups will be authorized to be paid, but you will actually get paid on that day. That will hopefully be before the end of the month. I think they are pushing it so much right now that it really has to get done. They started the education campaign again, and I think we are finally at the point where we will see it.
Caller: My husband has a corporation and I have an LLC, and each one has an EIN. Will I have to make separate appointments for me and for my LLC, and also for him and the corporation? Or do I just show up and show the paperwork.
Tony: When you call the 800 numbers, ask them what to do. I think you and your husband can have separate appointments if you wish – that’s up to you, if your currency is in your individual names.
509 caller: So… you’re saying that US soldiers are getting 88 cents on the base? What about people in Iraq using cards?
Tony: They are getting 88 cents per dinar when they exchange on the base as they leave Iraq. The people of Iraq are not using dollars; they pay in dinar, and I don’t know if the prices have changed. The soldiers are being told to turn in their dollars to get dinar at a rate of 88 cents. So, yes, they are becoming a one-currency country like we are; they simply haven’t changed the rate yet internationally. Our dollar buys what a dollar buys, and a dinar buys what a dinar buys. However, our dollar is not actually worth a dollar because of fluctuations and value comparisons with other currencies. The dinar was at 83 cents, is now 88 cents and climbing. That’s in the back room; when it gets to the front room, we will see the reinstatement and RV ‘shortly’.
Caller: Over the years, I have purchased dinar and my husband (of 43 years) has not. Is that currency mine? In the beginning, I made more money than he did, and that was OUR money; later, he made more than I did, and that was somehow HIS money.
Tony: Yes, the currency is yours; I hope you feel like sharing.
Tony: It’s a great day, and tomorrow should be even better.
Ray: Let’s see what happens as the rest of the week progresses.
RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA
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