TNT Call 7-February-2018
Replay: 641.715.0623, PIN CODE 409029#
[Sound of fireworks, then clock ticking]
RayRen: Good afternoon, TNT super-fantastic family! This is Wednesday, February 7 2018, with yours truly RayRen98 here, and Tony as well. From Monday’s call we shared about lower denominations being out in smaller numbers, with more being released in the coming days. We have not had an update on that yet, but think that they are only in some hands so far. We hae also been told that prices have been adjusted slightly. The biggest changes there will happen when the change in value comes in. It’s changing by pennies right now; the big adjustment will come when they make the announcement.
Jumping back to the US, Ray had this to say in the chat room yesterday:
Dinar is scarce, Iraq has “reportedly” stopped distributions…….tick, tock………tick, tock
There’s a light at the end of this tunnel…. It appears that dealers are selling “on hand” inventory only? Hmmm….no TreasuryVault, no SafeDinar, no Travelex…????
RayRen: Quite a few dealers have stopped selling dinar and/or dinar are on back order. Even Travelex seems to have stopped selling dinar. There have been mixed reports about SafeDinar. One dealer’s site said they aren’t selling ANY currency today.
Tony: Things are changing. I bought from Travelex for years, and they have never sold dinar, neither online nor in California. I don’t know about the other sites. From our guys, we heard that no more dinar will be shipped out of Iraq, as of yesterday. Dealers will have to sell off what they have. Dealers in some regions were told that they had to return what they had on hold. That’s supposedly the reason you are seeing what’s going on in the markets. Every dealer will deal with this shortage in their own way, but yesterday people were told not to ship dinar out of the country.
RayRen: As for information on salaries…
Tony: There is a payment schedule saying that salaries were supposed to be paid on the 4-8th. They have not put out a revised schedule, so I assume people are being paid. I am waiting for a confirmation on that.
RayRen: We were getting confirmation that Kurdistan is getting 14%.
Tony: An article came out from the IMF that Baghdad is to pay the Kurds 14%. We’ll see what happens at today’s meeting. The Budget is supposed to come out tomorrow, and if that happens we have an open highway to do what we need to do from now on. That would be the third and final reading of the Budget. They are supposed to report on Wednesdays and Saturdays; they said they would vote again today, whether the Kurds take part or not. The outside forces say that they have settled on 14%, so I am looking forward to a Budget announcement tomorrow.
The CBI put out a notification of a rate change last week: what the rate was going to be, how it was calculated, so everyone can understand it. I am pretty sure there was a date as well. Some banks over there know about it; some do not.
Over here, they finalized the 800 number system yesterday. We got a briefing on what they are going to do and how they’re gong to do it. I know you guys have always been concerned about that. They are going to put out the 800 numbers, to us and to others on a list. We will post it on the site. I thought they would have five or six numbers, and we would post them, and you all would call them for appointments. Evidently, t hey are now doing to put out 800 numbers for the different regions, so that they don’t get bogged down, and the East Coast is not trying to call the West Coast or vice versa. Depending on how we get the information, we will try to put the information up by regions; you look u p the region you are supposed to call and take it from there. We don’t have those numbers yet. Other than that, the process is still the same: you tell them your zip code and the amounts you have, and they will tell you where to do to exchange.
RayRen: So only call the 800 number for the region where you reside. They can only help you if you are in that particular region, by zip code.
Tony: There is a possibility that Ohio may go before Virginia. I know we expect to go east to west, but some might get started at night and others starting in the morning. This does not make any sense to me. If you tell California and Arizona that they can go while the East Coast is closed, you better believe those with ten million or less will be standing at the bank door before you open. It just doesn’t make sense to do it that way.
RayRen: We did hear that those under ten million will go to a teller, but they can request a wealth manager at that time.
Tony: That teller cannot negotiate with you, so if you don’t want to exchange right then, come back when the rate is what you want to see. They are meeting right now; sometimes they listen to our calls, sometimes they don’t, but we don’t get their intel until after this call finishes. That’s why we come back with information on the next call. There was a call last night, for example. So far, we are good – we checked before the call – but they are having a meeting right now, and also everything is subject to change.
Questions from the TNT forum
Q: Will the restriction that the Federal Reserve put on Wells Fargo affect their ability to exchange?? A: No; otherwise, we wouldn’t be getting ready to go. Everyone is getting ready to go before Monday.
Q: Tony, is the GCR Committee an IMF Committee? Tony: Is the IMF involved in the GCR committee? Yes. There are seven committees, and everyone offers ideas and suggestions. If they like them, the suggestions are accepted
Ray, has a new date been set for us to exchange? RR: I don’t think we have passed the projected date yet. We were told the 2nd, then the 15th; a few things needed to happen, but I think we are good.
Q: Do you know what the final decision is on our reserve currency at Sterling? Will we be able to receive our currency? If yes, are there steps to reclaim our currency?? A: I don’t have any information on that.
Q: Does the $10,000,000.00 include all the currency that you have, or just the Dinar. I have X million Dinar, one hundred thousand Dong, and XX trillion Zim. Does that total qualify for a sit down with a wealth manager? A: The ten million is all of your currencies combined, if you have one, two or 50 currencies. All these sums – the ten million for most currencies, 500 million cap for Zim – are the amounts you expect to receive in US dollars. It’s the number of DOLLARS that creates the limit. [So sit down with your currency and create a spreadsheet with the conservative rates, and see if you are likely to receive over ten million dollars in exchange. If you have three million dinar at $3.71, for example, that is already over 11 million dollars.]
Q: Could you ask Ray and/or Tony if they know which kind of tax the bank will deduct and at which rate? Does the tax treaty Tony refers to impact the rates for this? Also, are Ray and Tony now suggesting that we allow the banks to briefly remove our currency from our presence to make the quick authentication? Tony: We have already answered the first question multiple times. These exchanges are being pre-taxed – excise tax is taken off before we even see the rate. We have been asked NOT to talk about the tax treaties. The bank will take care of all that. The bank is not deducting any taxes, because the 15% excise tax has already been paid. The bank will explain all that. As for the second question, if you have done your homework, you will already know what banks in your area do to verify the currency. For teller transactions, you put the currency on the counter, and they count it out. There are images of the currency on the computer, and they will check the features. Then they will run it through the Delarue machine, there in the bank, and it will verify your currency. It may be that they then say it still has to be authenticated by the higher ups, but I am not concerned as long as there is a receipt and agreement on the numbers of the various notes! You already know your currency is real – you’ve had years to verify the authenticity. If the bank doesn’t have the capability of doing the same, then go to a bank that does.
Q: A few years ago both of you have said this thing is done and all we are waiting for is the release. Do you both feel that is still a correct statement? Tony: I feel like this thing is finally done and over with because everything has been done and they have said they want this to be done before the Kuwait Conference on the 12th. I don’t have any say-so in the plan, but at least we are being told how this is going to work.
Q: It would appear that the #wearethepeople effort as been limited or been done away with from what you have informed us. i.e. I have 1M IQN which would prevent me from making an appointment with a wealth manager since the dollar equivalent would be less than $10M. Can you comment? A: That campaign was started because there were people who didn’t want you to exchange at all. They tired to change the rules so that only people could exchange, and then so you could only exchange below the $3 rates – and nowhere near the rates at which they were exchanging themselves. That was not fair, and that’s why that campaign was started. Now everyone will at least get the $3 rate. Also, that campaign ensured that contract rates will be available to some of us, as opposed to none of us. They set aside a percentage of the contract rate pool that is three times what I expected at the time, so I agreed! As we have said before, the contract rates probably won’t be available to those who only have a small amount of dinar or dong. If you have less than ten million dollars worth of currency, then you don’t really have enough to negotiate with, not so far as rates are concerned. You might be able to negotiate interest rates or perks, in an appointment with a wealth manager after you have exchanged.
[missed a few minutes here]
Q: Do the tiers 1,2 and 3 get exchanged before us? Would 800# come out after them? A: There are tiers of banks, and tiers of payouts, in tems of individuals. Tier 1 gets more money than tier 4. There are also tiers in terms of interest rates – those with enough money can ask for tier 2 interest rates, paid monthly rather than tier 3 (yearly). We are tier 4 in terms of exchanging, so 800 would have to come out FOR us to exchange, and we spoke about this in the introductory remarks. If you want to know if your bank is a tier 1 or tier 2, look it up on the internet! We cannot control the tiers. Interest rates are based on the amount of you have, and you can negotiate for that.
Q: As we speak, do you or Tony know of any vendors, retailers or consumers using the new dinar notes and coins thru out Iraq? A: NO, they are not using them yet! Three banks say that they have the fils and lower denominations and they are waiting for permission to release them. We know that a few people have lower denominations, and people have been using their cards. The rates on the cards and in the markets are being adjusting by pennies until this is announced and then there will be a big leap.
Q: I thought Iraq was already at the 1 to 1 rate within country? (Christmas announcement) If that is so, why are we waiting for a rate change in the country of Iraq? Tony: They were also supposed to announce the full rate change on the 2nd of January, then the 15th, then on 31st January. That didn’t happen, but now they can take in their dollars and get dinars at 1;1: because they are trying to get the rest of the dollars off the streets. We are waiting for is the international rate to exchange, and then they won’t accept the dollar in-country. People know the rates because they are using their cards, but they don’t trust the banks or the dinar. However, when they see that they can buy a l ot more with the dinar than the dollars, then they will accept the new rates.
Q: If you have your currency with you while you’re traveling across country, do you use the zip code of the area you’re in? Tony: Give them the local zip code if you want to exchange in that location. Otherwise, turn around and drive home!
Tony: I have omitted some banking questions because we don’t have that precise information yet.
Questions from live callers
708 caller: Anything new on the Zim?
Tony: I asked about that and got the answer ‘no change’. We still have the status quo.
404/865: You haven’t got access to the 800 numbers yet – do you have a window to those? When you call the 800 numbers, and give them your amounts, will they give you an idea of how long your appointment will be?
Tony: Banks are now giving you a half-hour with a wealth manager. If you are at the teller window, it will take whatever it takes. The first question about a window… Ray?
RayRen: No comment.
Caller: Earlier you said you are expecting good news tomorrow about the Iraqi Budget. Will it still have to be published in the Gazette?
Tony: I asked the same question. They are not concerned with it. They just want the deal to be completed; they don’t care about it being in the Gazette before the meeting.
Caller: It sounds like the UST, the IMF and the World Bank are pressing for 14%
Tony: The IMF and the US have put out statements, but I believe the IMF is giving the same message, that this is what they are looking for in order for this to go. I think this is a good possibility that this is the last ‘regular’ pre-RV call, but we don’t know. We have been a told a window to look for things to happen, but we’re not putting that out. Some of this stuff we’re being told doesn’t make sense to me, but we’ll see what happens. They told us they want this to happen by Monday; I’m going to tell you an hour, because people will start holding their breath. We don’t want everyone hanging on that.
423 caller: It seems we are talking about banks rather than exchange centers now…?
Tony: The change is that ten million and below will go to the tellers, with ten million or more talking to wealth managers. They are supposed to have two tellers and extra security in each bank. They want the majority with less currency to go to the tellers, with the ‘serious players’ talking directly to wealth managers. There are still exchange locations, but those have always been part of the banks. There is one exchange location that used to be an old Walmart, one that is a former accountancy office, and another that is a private banking location – those are all exchange centers, and people will still be sent there for these particular exchanges. They won’t need those locations after exchange.
Caller: I thought the 800 numbers would distribute us all over the place, rather than creating chaos in the banks. What about Janet Yellen’s restrictions on Wells Fargo?
Tony: Already asked and answered. This will not affect our exchanges. If they were to take Wells Fargo out of the equation, it would take 2-3 years to reorganize this RV.
Caller: Let’s say you sign an NDA and someone says you have broken it, and then the bank sits on your money until that gets sorted out.
Tony: Read it, sign it if you’re comfortable, and don’t sign it if you’re not.
601 caller: Should we still put aside 50% for taxes.
Tony: We have been asked to tell you that the tax has already been paid before you exchange. If they don’t explain that at the bank, I’ll put 50% aside, in case.
951 caller: There aren’t many Zim holders, right – 10-20 thousand? You also said that they want to get this over with by Monday?
Tony: Iraq has been notified that they want the rate to be out and international by before the conference starts on Monday. I am thinking that means the rate will be on Forex as soon as it goes public. That makes sense to me.
604 caller: Any information on how this will take place in Canada?
Tony: I think you will use the same process. [RR agrees.]
Caller: With regard to trusts and using a paymaster so that your money would not be held up. What is your opinion?
Tony: A paymaster for what?
Caller: The paymaster would have an account, hold your money in trust, and then you would access your money through the paymaster.
Tony: I know that a lady won 35 million dollars in the lottery. She has signed the ticket as a trust, and they explained that if a trust were not involved, she would get the money right away. What you’re thinking is that if the money goes to a trust, then you would not be taxed, and you would get the money through the paymaster? You don’t have to do that. There are no background checks on trusts or trustees, but I don’t see any reason why you would want to add an extra layer like that?
RayRen: The only paymaster I am going to have is ME. If someone is selling you some kind of program, you need to go back to whomever gave you that information to explain it to you. Having a paymaster is just allowing someone else to control your money, and that is not something I would do.
Next caller: I will be calling for an exchange appointment in Region A, and actually exchanging in Region B – will that be a problem?
Tony: Just give them the zip code and they will direct you accordingly.
Caller: There is someone in my town who has collected currencies from a group of substantial currency holders so that they can negotiate higher rates as a group. Is that still a possibility.
Tony: There are many possibilities there. Nothing beats a failure but a try.
Caller: It seeme to me that the banks are just ripping us off.
Tony: Sure, banks are there to make money – you just have to know what’s going on so that you can negotiate better rates, perks and conditions. Banks are a Ponzi scheme, neither more nor less. In the bank collapse ten years ago, nobody went to prison, and we can get mad as we want, but really all we can do is to get the best out of a bad situation. The various acts that were supposed to protect us from another Wall Street crash have been removed; there is nothing we can do about that.
Caller: How will Australians know how to get an 800 number.
Tony: They are using a global 800 number system, so I assume each country will be assigned an 800 number. They just got a whole new bunch of 800 numbers yesterday.
879 caller: Are all the currencies having that same excise tax paid beforehand as the dinar, or do we need to put some aside for other currencies in the first basket?
Tony: Years ago they said that the dinar was the only currency that would be taxed, and now we are being told that dinar will not be taxed either. Now, I don’t plan on spending all my assets anyway, so unless the banks show me that all taxes have been paid, I will set aside 50% just in case. But we’re being told that this is not a taxable event for us.
516 caller: I’m in a Skype room with a lot of people on Open Mic, and they are up to all hours putting together articles, etc. They are saying because there is always going to be corruption in Iraq, they cannot be trusted to handle this RV. What do you think?
Tony: Yes, there will always be corruption, in our government as well as in Iraq. However, President Bush and Cheney and the other guy let this leak to the public, and that’s how we got in. I thank President Obama for taking all eight years to make sure Iraq’s foundation, government and banking are now relatively secure, so that when this does go, they couldn’t use the same corruption as they used in the past. Everything now goes through DoD to make sure everything is verified before anything happens. It didn’t happen in the time frame they planned because Maliki let in ISIL because he didn’t get his way. Sure Abadi may not be 100% honest, but that is part of the culture there, that they trick each other and keep things as confusing as they can – just like here, in fact. They blatantly lie, here and over there. The main thing is that we have oversight over the money, with people on their committees and such, to make sure the US doesn’t come out on the losing end. Yes, people will steal and lie, but Iraq will continue to grow. Investors will come in, Iraq will learn a new way of business, this will happen, and it is scheduled to happen before this meeting that starts on the 12th. We know what they are supposed to do, but we have to wait and see what actually happens. They (IMF, US, other countries) will not give Iraq any more money until this is done; once they do this, everyone is happy again, and here comes the money!
Next caller: How do I know the currency I hold is authentic?
Tony: You can take it to the bank today and have it verified – they will look in the book or run through the Delarue machine, and make sure it is authentic. Also, years ago we put a post in the forum that shows you how to check if your currency is okay. If you’re not in the forum, then look online for how to verify your currency. But the bank or exchange places can tell you what to look for.
240 caller: DC used to say that the dollar and markets would slide by 3-4% percent. Is this last week’s stock market drop an indicator of that?
Tony: It has been suggested that the stock market dropped so that this could take place. Maybe the system has to go down to tle this in, or it would really skyrocket. If the bubble were to burst, let’s do it now before we infuse the economy with all this money and then have it pop. I keep hearing the word ‘correction’. It only takes one country to drop to bring other countries down a bit as well. I read the articles and talk to many sources; I know they have a dollar amount limit of what they want to exchange every day. If they didn’t have this drop, then they would have to limit that dollar cap, I think.
Caller: Is all this part of the mini-IMFs you talked about five years ago?
Tony: Yes, only now they are putting together seven mini-IMFs.
754 caller: You said there would be regional 800 numbers. I believe there is a strong concentration of currency holders in Florida and the Southeast. Will they break up the East Coast?
RayRen: They know the concentrations, and they will need more volume in the South, so they will probably break up the East Coast. On the other hand, some people might just get busy signals. I thought there would be five or six numbers, but they told us there will be five or six pages of numbers. They are doing their best but some people will get a busy signal. The rate will not wait on you to get through on the phone; it will fluctuate. If you cannot get through on the phone, walk into your local bank and see if you can set up something with a wealth manager yourself.
Caller: If you have more than ten million and you speak to a wealth manager, and if you don’t want to exchange it all at the same time, will the wealth manager talk to you? I’m particularly interested in the dong.
Tony: I have not idea. If you have that and you want to negotiate to get it all done right there, they may well make you an offer because they want to get it out all done now, not piece by piece. I cannot tell you what the rate will go up to; I do know there is a plan for it to get to eight dollars over time, but that doesn’t mean everyone can walk in and negotiate that high just because you think it will go to that rate. You have to go in and make a deal, or wait until the rates go up on Forex. I do think that the dong will go up just like the dinar. For years I was told that dong would be at 47 cents to $2. If the dong comes out over a dollar, I will go in and exchange, because that’s twice 47 cents!
“A little learning is a dangerous thing” (as Alexander Pope said), because not everyone knows how to negotiate. I think the rates will go up over 14 days, and then come down pretty quickly to the international rate. This is all stuff you should have been learning over the last 4-5 years. Get as much as you can in terms of interest, perks, investments, etc. but don’t drive yourself crazy with the details if it’s not an area you know about. The banks should be open 7am to 7pm; at regular business hours, they will shut down for the regular customers, but if you are exchanging outside business hours, they will stay open for you.
870 caller: Are there any updates on whether Lloyds of London is a good idea still?
Tony: I have not heard anything new. Ask the banks, and do some homework on bank platforms.
Tony: There is a lot of information coming in every day, and we’ll probably get more this afternoon or tonight. They are putting it out as they make final decisions, and we always ask what they want us to tell you to get you through the process. BE READY. If you are not ready right now, GET READY NOW. It’s going to be ‘first come, first served’, and there may well be chaos. They are going to give us the 800 numbers, and they will give us the rates so that you know in advance. Have a plan and execute the plan. After we announce it, it will just be crazy, so be prepared. Enjoy the rest of your day!
RayRen played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA