Replay 605.562.3179, PIN CODE 409029#
RayRen: Good afternoon, super-fantastic TNT family! Today is Monday, December 28, 2015. [Doing audio checks] Marvelous Monday! Yes, we continue to say we didn’t expect to be here on this side of the opportunity, but we are here just the same.
I want to give a shoutout to Vintage Sheila, Pinkroses, BringitonTony, ballasgma, and our other transcribers. Merry Christmas, Happy Hanukkah and Happy Kwanzaa. We’re all going to be saying Happy New Year in a few days. I hope everyone had a good holiday.
Very short on intel today, but still good to my ears. Not a lot being said or going on… some of the things you have been hearing since the last call probably were true, and some might have been a little embellished. True or not, we are still looking for IT today, those who are still waiting to exchange. Things are in process and some have taken place. We have received some information that has been proved that certain things have taken place, although they haven’t taken place for you and me. Many of the bank people are now saying Tuesday/Wednesday – that’s what they are expected. One member thought it might be today because his bank has a sign saying ‘no currency exchanges before 11.30am’. That was exciting for him to see, although he doesn’t know what happens after that time. I was tempted to delay this call to see what happens afterwards, but we can always reconvene if something great happens.
The various different banks … some people tried on Saturday and were told to come back Monday. Some people have appointments to talk, and may be able to exchange if the opportunity presents itself. Several have told me the banks have said that the rates are live as soon as the authorization codes are released. Some people have been ‘gagged’, and some others have gone very quiet. Some of my sources are still informing, though, and that’s why there is this Tuesday/Wednesday expectation.
The good news to my ears comes from across the pond. People have sent me photos of the mosques where they are obviously preparing for something. They expect announce-ments in the mosques, and there have been rumblings of a new rate throughout the country that is supposed to show today. Time will tell on all of that as we wait to see what happens next, as we patiently wait for it.
Let’s look at some questions from the forum, put together by IdahoUSA. Thanks for that.
Q: from TNdr… Can you touch on what you envision as the sequence of actions at an exchange appointment so that we can envision what to expect? Hmm. They have not given me one and I haven’t been to an exchange to say what takes place. Some people have shared with me what happened at their exchange: their currency was verified with them present, they were given rates and perks they agreed upon for investing in that bank, and they felt comfortable concluding that transaction with a receipt of deposit into their accounts with in the next hours or days. That’s a loose sequence of actions: you go in, they verify your currencies, and you exchange on the spot. If time permits, you will discuss what you may want to invest in their products. In the past, we were told they wanted to run everyone through in 20 minutes and then have you come back in a few days to talk with their banking people about products and investments. If banking people could come in and clarify that, we’d appreciate it.
Q: If there are no tweets or 800 numbers or calls, where do we look to find out the RV has happened in the US? Well, you will do the same as those who don’t listen to these calls – check with the banks until the rates change. Some already have connections with banks, or are already calling banks. If we don’t send out the information, you have ways to check if the RV has happened, like the currency exchange sites. If you see rate changes, then you call the banks and see if they are reflecting those new rates… then make your exchange. It won’t be as hard as some people think, because you are watching the indicators and it will unfold, one way or another.
Q: Ray, what are you hearing about the rumored windfall tax with rates possibly as high as 70%? I haven’t heard anything about that at all, so I have no response. Let’s wait and see what is really going to happen, and make our plans based on if X happens, or if X doesn’t happen. Let’s just take a wait and see approach and see where that falls.
Q: Is it advisable to exchange into a holding account until I can get entities set up? If you already have an EIN number but don’t have the entity actually created, then call the IRS and see that you are doing everything right to begin with. If the IRS gives you the okay, then go with your plan and exchange into that entity’s bank account and hold it until your further plans ripen. You don’t want that to blow up on the far end.
Q: If I have a wealth manager in place, do I need to go through the 800 numbers? Would the WM be able to negotiate with WF and BoA? It depends on whether the WM is at a bank or a private one. As your WM what they can do for you! It won’t hurt to call the 800 number and see if you can get a better deal.
Q: Will Canadians be paid in US dollars or Canadian dollars? Which banks in Canada will be able to exchange large amounts of currency. One bank said they would have to send the currency bank to its home country to exchange. A: Well, call some other banks. I don’t know. Those Canadians who have talked to me said they exchanged into CAD, and I would assume banks in Canada would deal in Canadian dollars. Otherwise you will have to come to the US and give it a shot.
Q: What happened to the Chinese wanting this to be done by Christmas? A: I have no idea what happened there. The new window is NOW: any second, any hour, any day. That’s what we’ve been expecting since last week, based on the information we receive.
Q: Are you sources giving any information on the process now? A: Yes.
Now we will take a few questions from the field and wrap up. If something significant happens, we will send out a message/tweet as things progress.
719 caller: The lady who was upset about 404 always being on the call… I can understand how she feels because some people always get on the call and it’s because they get on early. I called in four hours ago. I’m part of a group that emails the notes around, and most people really like 404 because she asks such good information. Your information is only as good as you are being told. The real issue is those who don’t ask good questions, or ask again something that has already been answered and they didn’t put their hand down. If you don’t have a question that benefits the masses, put your hand down by pressing *2.
With that said, we have been in this almost six years, and every Christmas we are told by someone that we were going to have money for Xmas, and we never has. What has been holding this up this year? Kudos to Abadi for dealing with their conditions in Iraq at Ramadi, Mosul, etc. What circumstances are still holding this up? the US, Russia, China? Is some entity delaying this, in your opinion?
RayRen: If there were a particular entity delaying this, what would you do about it?
Caller: I would just like to know because then I could make contingency plans. Every day and night people are checking the various sites, and if we knew it was delayed, we could make other plans.
RayRen: If we could even get the real true picture of this person or organization holding this up, we’d still be in the same position we’re in now. We are being told it’s in progress, in motion, and we are not where we were a year ago, we just aren’t there yet. No matter how hard we dig, we will never find out until it doesn’t matter any more. For conversation’s sake, if it were the US government holding it up, what are we going to do? The last time we had the Twitter campaign, we had a strong principle to stand on. We don’t now. Of course we are concerned about Iraq. They have cameras on the mosques, and there are no riots, people are just congregating peaceably; there doesn’t seem to be any unrest amongst the citizens. They don’t have a rate but they are not complaining as far as we know.
Caller: You’re not getting anything from your Iraqi sources saying the US is holding this up, or that Abadi is not waiting on this
RayRen: There is a whisper between people that a new rate is being announced today. They are getting whispers that it is changing. We cannot protest for a country that is not protesting for themselves. The sad thing is that when this hits us between the eyes, there are still going to be some who are not ready. You need to plan with foresight.
Caller: If they invested in a stock that would give them this kind of return, they would be looking at it night and day. Because it’s been so up and down, people are not keeping their eye on it the same way. I have relatives who don’t believe this will happen because some Iraqi guy they know says it will come out as 1:1, and it’s therefore valueless. Iraqi tariffs are supposed to kick in on 1. January; do they need a rate for those milestones?
RayRen: I believe so, yes.
303 caller: You always say ‘time will tell’, and I’m beginning to think you will look like Father Time with a long white beard. I have currencies that are not yet a year old and I hope some bank will give me SKRs. What value or percentage can I get a loan against SKRs?
RayRen: You mean to get an SKR and then arrange a loan against that? Those I know have received SKRs have not been able to get loans against them.
Caller: It’s it a recognizable collateral that I can borrow against? If not, what is the value of putting your currency in the bank and getting an SKR?
RayRen: Those I know have not been able to get such loans. Those who did so planned to exchange for actual money. They were told they would see cash in their account within 24 hours, and they are still waiting three to six months later. They got locked into a rate and now people are exchanged at twice that rate. So I wouldn’t enter into a SKR myself. Some have acquired vehicles based on the perceived value of their currency, but they didn’t exchange… although they did get what they wanted. So you can try!
Caller: [Appreciation] Vegas, Vegas, Vegas!
410 caller: We have seen some pretty extraordinary rates, and people saying the banks want us to get in and out because they wanted to get this done by a certain date. Is there still a date by which they need to have this done?
RayRen: We’ve seen several such dates come and go; as a strategy, getting everyone in and out is still valid. Think ‘first mouse, second mouse’. We can put all types of reasoning together – maybe they have delayed this so long that you will take any rate by now. The longer some have had to wait, the more impatient you have become. If the rate comes out at 1:1, some people will go for that so they can get on with their lives. If that is the strategy, we are planning and the bulk of us will not fall victim to that.
Caller: It’s a negotiation process, I guess, and you keep supporting us and helping us to understand that we need to negotiate and we do have options. I’m just really tired of it. I do appreciate everyone’s work on this, and hope the Iraqis are feeling successful with their growth and military success. They deserve their own currency. Three cheers for them! [Appreciation] Vegas, Vegas, Vegas! And Raleigh!
404 caller: I’d like to add in ZebraGirl who has been doing the verbatim transcripts and is now putting down her pen. I love your word of ‘rumbling’ in Iraq that something is happening with the rates, possibly today. Is this a solo announcement? By whom? Will it be mosques, television, radio, newspapers, or any combination of the above?
RayRen: I look at the pictures and see people moving around, but the technical part of how this gets out… well, it might just be there, and the announcements will be after the fact. When all the people have been told, person by person, then the government may come on after the fact and say “this is what we have done” rather than “this is what we will do”. In the US, they probably won’t even say it after the fact, and it wouldn’t surprise me if Iraq operates in a similar manner, as we have been their mentor for the last 12 years.
Caller: Sometimes it feels like we are in a parallel universe. It would be great to have another call in an hour! [Appreciation] Vegas, Vegas, Vegas!
954 caller: Is the zim still viable and in the basket?
RayRen: To the best of my knowledge, yes, it is still viable and in the basket.
Caller: [Appreciation] Vegas, Vegas, Vegas!
941 caller: I got a response to that guy who said 75% windfall tax – I don’t see how they could do that especially as all those government people got in early – I don’t think they would like that. There is no law saying this has to be taxed at all. Yes, there is a something about tax on currency exchanges with a profit of over $200, but we didn’t bring this into the country. There is a group in Oregon who says they will fight any tax on currency. This was set up to repay the debt of this country for the war, and there isn’t tax on repayments.
RayRen: Interesting viewpoint. Ten years ago, nobody cared what tax laws might be changed or implemented. Now the situation is different and everyone is watching.
Caller: Let’s just get it and then we can rebuild the middle class. I’m not going to Vegas, I’m going to Hawaii on my honeymoon after 14 years. Have a good New Year!
RayRen: That’s all the time we have today. We are anticipating more information and some action. Time will tell if the information/action comes through this afternoon or any time this week. We will stay optimistic; we cannot change anything, we can’t force it or block it. If anything happens, we will inform you. Keep your head up, and your eyes and ears open, because no one knows the day. Just keep believing.
RayRen then played I Believe: https://www.youtube.com/watch?v=9DYrqOUKLtA