Highlights of the TNT SHOWTIME CC…
Ray: What a MARVELOUS Monday it is! Change is not coming; it’s happening! That will be the reference of today’s call. No screaming and hollering at the banks just yet. But, were they expecting us?
WEEKEND REFLECTION: In Iraq expectation of the cards to be issued. We learned over the weekend most provinces were being taken care of – however slow. don’t know the percentage of done. Cards have been issued. Payments made, some for January.
Item#4 – MEMO from Rafidian Bank stated smart cards are to be International immediately. The US banks received that memo on Jan 25. Now it’s Feb. 8th without receiving any retractions of that memo and some citizens have already confirmed the internationality of their card.
USA, Item #5 – NEW MEMO . . . came from top corporate down. It was the banks memo to their staff . . . went out to banks on Saturday stating they would initiate exchange activity on Monday and be prepared to work long hours. Confirmation other banks have received this memo as well. They were expecting to be processing quite a few of you.
CURRENT WINDOW: Ray: My understanding they are in a big time conference right now trying to understand why they are not processing people right now. There were BIG expectations to process us today.
Ray: We have not reached the date on the first memo. We are still within the date on the memo.
There are a few things that I didn’t expect to hold on to this long. They are not time-sensitive and I was giving others the opportunity to release this information first.
1) Banking information for exchanges, about the process.
2) Information about currency exchanges in Iraq up to a specific date, and we have not yet reached that date.
3) Memo to US banks with similar information and specifying dinar and dong would be exchangeable starting from now to a specific date. We are still within the date on those memos. I guess the other folks just don’t want to trade with us; I know they have this intel. These three items are still current.
4 & 5: the memo about the RAF bank, which I shared on January 25.
It’s happening. People are exchanging. Some rejected the bank offers. Left $2 million dollar deals on the table. They knew about lost opportunity (Tony would say “1st cheese”). Four folks were offered, with conditions, and said “Thank you,” but “No Thank you.” They rejected .03, .02 and .06 on the ZIM.
You got to know how to play this game because they are going to play it. Can you dribble it and control that ball. When you go in plan to negotiate. Don’t take anything at face value. You are going up against people in business, and their bottom line is profits. That is what is on their mind, and it needs to be on your mind as well. All that glitters is not gold…
This is a business negotiation. Remember they work for the bank. You have to protect you.
IRAQ: Is the currency International? Ray: We believe so for all intent and purposes.
- CBI site was down this morning. Unknown if there is any relevance to that.
INTERNATIONAL:
- Rates: ZIM: Recent exchanges were offered .02, 03 and .06
UNITED STATES:
- 800 numbers: Ray has no official information or communication yet.
- Exchange Centers maybe a bank building or another facility set up.
- Back Window: Ray said he would let us know when/if we get there.
- Taxes: No new information
Q & A:
Contract Rate: Ray could only speculate why the bank might not want you to have the Contract Rate. He suggested a higher rate might have a lower commission for the bank.
CAP’s: Ray only knew of a cap on the contract rate. On the ZIM, anything over $1 billion would be a structured payout: monthly over 20 – 50 years. Ray: So the cap was for how much money you would receive right away and the rest as a structured payout. No new information on caps.
No Trust. Put in DBA or NIB? Ray, Yes, choose for the right reason and know why you are doing it.
Separate accounts for separate currencies? Ray: Yes, you can.
What qualities or expertise should a Trustee have? Have no other family. Ray: I’m sure in your life span you will find someone you will deem appropriate to handle whatever your leaving behind.
When someone purchased currency for another person? Affidavit or gift letter? Ray, don’t see how you could do a gift letter. They gave you the money to buy it. An affidavit can be completed two years later.
RAY’S CLOSING STATEMENT:
Still marvelous Monday. Anything could happen. Meetings taking place. Some expectations out here for us to be excited about.
Change is not coming. It is happening. . . Nothing we can do to have any impact on what happens. Hopefully, we won’t be here Wednesday with a call to update you. Looking forward to the next call being THE call. That is what we would like to happen. I can’t make it happen or keep it from happening. Still marvelous Monday. Anything could happen. Meetings taking place. Some expectations out here for us to be excited about.
I would rather be in a situation instead of looking to throw sticks at where I’m at in life. Much better outlook.
With that being said, hopefully, we won’t be here Wednesday with a call to update you. Looking forward to the next call being THE call. That is what we would like to happen. I can’t make it happen or keep it from happening. I can only wait on it to happen. That’s easy for me to do because I Believe.
