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Archive for March, 2008

Old Archive 5 – Investment Clubs

Posted by Kevin on March 20, 2008

Wan Spec Says:
April 13, 2008 at 11:30 pm
Report: Wachovia to get billions in new capital
Announcement may come Monday, deal similar to Washington Mutual’s
NEW YORK – Wachovia Corp. on Sunday was hammering out the final terms of a deal that would provide a capital infusion of several billion dollars from outside investors, The Wall Street Journal reported.
The deal could be announced as soon as Monday, the Journal reported, citing people familiar with the matter whom it did not name.
Wachovia, the fifth-largest U.S. bank by market capitalization, would receive $6 billion to $7 billion, the Journal said. In return, the investor group would get shares priced at roughly $23 to $24 apiece — about a 15 percent discount to Wachovia’s closing share price Friday of $27.81. The shares have plummeted 48 percent in the past year.
According to people familiar with the situation, Wachovia’s deal is similar in structure to the $7 billion in new capital Washington Mutual Inc. obtained last week from an investment group led by private equity group TPG.
Officials at Wachovia could not immediately be reached for comment. However, the Charlotte, N.C.-based bank released a statement late Sunday saying it would release its first-quarter financial results Monday morning. The company previously had been expected to announce the results this Friday.
The trouble at Wachovia stems largely from its 2006 acquisition of California-based mortgage lender Golden West Financial Corp. for about $24 billion. Golden West’s loans were concentrated in California, one the hardest-hit housing markets in the U.S.
In last year’s fourth quarter, Wachovia’s net income plunged 98 percent due to a $1.7 billion write-down of some holdings — primarily assets backed by subprime mortgages — and $1.5 billion set aside to cover bad loans.
© 2008 The Associated Press. All rights reserved.
Livin N Babylon Says:
April 14, 2008 at 8:58 am Hello, it’s been a few days and I’m out again until tonight. I just had to pop in and try to quickly scan before a bunch of post are dropped and I’m lost again. I had a weekend hiking in the woods with my son – it was a great time.Clearly patience is the key, but something I mentioned a long time ago that I believe would be a good proactive effort. Let’s figure out what department at Wachovia handles DD for the Caribbean, start posting some names and numbers and let’s call and keep calling until someone provides us with a yes or no. Once the calls start flying and we know Wachovia is annoyed, then we call Olint and start asking them, which department at Wachovia we should call.It seems to me that if about 10 of us didn’t mind some high phone bills that we could get an answer. The answer I’m looking for is yes we are conducting a due diligence investigation – cool I’ll wait till’ whenever – it’s legitimate.

Stressed Now Blessed – I caught your Avatar and I’m going to have to find the directions again to do that, but I need to run. Oh, I did catch someone asking me about F1, yes I would recommend them as a strong outfit. Olint helped them get started, but they were never the focus.
Investment Man Says:
April 14, 2008 at 9:53 am Hi Patricia, DR, RichKid,ForexGuy,Do you guys know anything about Keen Exchange, got an invite to go in, but want to get some feedback. Let me know.Thanks in advance….
Oneil Says:
April 14, 2008 at 11:03 am Olint people as u can see wachovia is in troublehttp://www.forbes.com/markets/2008/04/14/wachovia-bank-dividend-markets-equity-cx_ra_0414markets09.html
Enlightened Says:
April 14, 2008 at 12:18 pm Some analyst are getting prepared to stick a fork in Wachovia because they think its done…No doubt that this latest news will cause a further run on the bank and create even more problem for the us financial sector…This news of course does rest well for Olint because it stands to reason that if there were liquidity problems before there will be worst ones now… im of course alluding to dates extending beyond June.

As for WW the run was expected as persons who have had i long standing request in excess of 4-6 weeks have been taking all weekend that apparently the route to take to get back funds is to cry and call CVM and if the girl can get hers why cant they.
Patricia Says:
April 14, 2008 at 12:41 pm Investor Man, I dont know anything about Keen.On another note, this C+ saga will be heading into some interesting chapters.I read arguments elsewhere about refunds where the scheme has been found to be a ponzi. More specifically people who gained, being made to pay into a pool administered by a Receiver, the sums they received over and above their initial principal. In fact, there is legal precedent for it in other British Commonwealth countries, and also in states within the US.

Well the list of “lenders”, and more importantly, certain names, and entities who were lenders, may read like a Who’s Who in Jamaican business, politics and churches.

Many people have boasted that they knew that C+, and others clubs, were not legit but they joined anyway. They were members of inner circles who knew when to get in and when to get out. I gather they are called the “smart money people”

Some people are also quite rightly questioning, the role of the FSC in the C+ matter. Did they act sufficiently or did they act too late. Did they for 3-4 years ignore their statutory powers, and turned a blind eye to what was unfolding. Then when it was too late, ie after the smart money left, they started the all out campaign of warning the public.

What about NCB’s role. People have said that the C+ accounts were courted. Those accounts were operated for years. And we all know how NCB’s fees go. That’s a large part of their profit stream. Then when when the right time came, the bank made a great big huff and puff, to distance themselves from the ponzi operations. How did they know it was the right time. Was it after the failure of entity to deliver audited financials, or was it after the news broke officially and the Real Carlos Stood Up, or was it actually after their legal, auditing and accounting advice revealed in dollars and cents, fines and penalties, the real worth of their (potential) exposure.

Did NCB in anyway gain from all those C+ accounts?Should the forensic auditing trail go into the bank records? It would seem only fair says some.

What about the properties that were being purchased? Remember CH stood before God and man, making his declarations about what was paid for. Now, were those transactions simply part of a more sinsiter plan, a way to deftly move the money away..launder it, perhaps? Again these are the issues being discussed.

Quite frankly, there is much investigation and indepth research to be done. Is there, however, the will to get it done?. Will this saga unfold like so many other tragic stories in the Soap Opera, Jamaica Land We Love?

There will be investiagtions, reports, meetings a few show piece suits and them BLAM!, the book done!..no author’s note, no preview of books to come. Hhhhhmmmm

BTW, how many remember me asking, back in 07, how will Carlos be remembered. This was when the story of his past was revealed, and I said he might be the true Jamaican Gangster.

Script writers, anyone?
dave Says:
April 14, 2008 at 1:47 pm Capital Blu is the real deal. I have account in my own name at one of their FCM’s and i have been getting paid ever since( i see all the trades too!!!). No hassles. At times like this we need to educate ourselves on what Capital Blu has to offer. There are so many options that Capital Blu has to offer. I read the whole blog and it has been based on rumors. I think capital blu is here to help. Plus they do what they say. I asked them about why are they taking money when they said they wouldn’t and i totally understand why. They are not taking money in their fund in jamaica because they are not reg. So that is why people can open up an account in their own name at a FCM, which is done all over the world. so why not here in jamaica.
JK Says:
April 14, 2008 at 1:56 pm i am currently on the phone with a rep from worldwise an the closure of the rbtt account is a rumor
RedP Says:
April 14, 2008 at 1:58 pm #1033
Dave, what are the average monthly percentage gains given by Blu?
JK Says:
April 14, 2008 at 2:06 pm http://i49.photobucket.com/albums/f278/elefly/RBTT_issue.jpgcheck out this
dave Says:
April 14, 2008 at 2:32 pm Well they have a lot of products FX Navigator (which has high returns and high risk) , FX Commander (which has medium returns with medium risk), and the CBM FX FUND (low risk) and now the FOX that has just been launched. FX Commander gave 9.90 in FEB and 9.68 in MARCH. The CBM FX FUND in the big one that operates like Olint. Everything else is in the persons individual name. So each account is traded on its own by a why of a system they developed that is awesome. CBM FX FUND averages about 6. They are a really big outfit. I would recommend everyone to call them just to hear them out. It is very interesting it is something Im not use to but glad my eyes are open to it. And I’ve been with OLINT for 3 years…… but how good is 16% if i cant get it. I will always be loyal to DS but the lifestyle that i live now that he helped me to achieve i cant not afford to live if i cant get my money so i looked in to CBM. Why not diversify.
dave Says:
April 14, 2008 at 2:40 pm plus i just feel more comfortable sending my money offshore to where i know my money is with a company that is reg. where they operate and the NFA is really really strict.
RedP Says:
April 14, 2008 at 2:45 pm All you savvy investors on this blog, what is your valued opinion/assessment of Capitol Blu??
PEI Says:
April 14, 2008 at 3:01 pm RedP I am not in CBlu but I check them out and so on. I never go with them since My problem is how the CBlu yute did bad mouth DS. I never like that at all but me understand in this busness world every shark need fish.RedP you can check it out too they registered and just a plane ride away.Me respect what poster Dave said him give DS props but still was fair and say the money no use if he cant get it. These are the things we need to see. We happy to make the money but we also need to get the money. Poster Dave never say it in a fight down way so respects to him for that. We need to stop the fight down and the throw words things because of problems now. We need to stay true learn what out there and stop spread rumor.
Opportunity Says:
April 14, 2008 at 3:03 pm I am totally against speculation but I thought I should share this as I think this is more than simple speculation. Some time last year not long after O lost its court case and NCB closed its accounts, a certain high ranking GM at NCB said to a close friend that they are going after Olint next (there was a post to that effect on the old wealthmax blog as well). At the time, that statement didn’t make sense as NCB had already ‘won’ by closing their accounts etc. But it would now appear that with Wachovia’s close relationship to NCB, and what we have been seeing for the past few months this is clearly what that statement meant. MLC is no fool and he didn’t make his billions staying on the straight and narrow path (certainly for a black chiney in a lilly white man country then).
RedP Says:
April 14, 2008 at 3:08 pm Thanks PEI.
Wan Spec Says:
April 14, 2008 at 3:18 pm Reality Check # 1032 – Everything that is being said now about Olint , was being said 3 or 4 or 6 months ago about Higgins Warner, Swiss Cash or Cash Plus.The people who are saying hold the faith really believe that. Probably because the prospect of an Olint failure would be too hard for them to imagine, so they dare not think anything else.There was reason to hope for Swiss Cash, Higgins Warner and Cash Plus right up until when they failed. To this day, right here on this blog some people are still holding out hope for Higgins Warner.

I used to believe in Olint unreservedly, now I am not so sure any more.
JK Says:
April 14, 2008 at 3:27 pm well one thing for sure when it comes to olint….they have a turbulent past an came thru it……HW came here conned ppl and left…….C+ boss conned ppl and was deported to ja…..olint survived not being able to accept new members out right…and a run on them in the past……hence there is a bit of a good track record there
Wan Spec Says:
April 14, 2008 at 3:49 pm JK # 1046 – You said “olint survived not being able to accept new members out right” I used to argue that very same point, but it was not true. I came across this web site where anyone could go to and open an account with Olint. I kept hearing about all these back doors into Olint which I used to discount as typical Jamaican rumormongering, I now find out that most of them were true. (read the archived blogs)You said “…and a run on them in the past” We don’t really know that now, do we? How do we really know that 70 or 80 % (The figure keeps changing) was really withdrawn? It was a nice story which makes us feel better, but have you ever seen a shred of evidence to support this? How do you know it wasn’t 5, 10 or 20% withdrawn?That’s the problem with a lack of transparency, you don’t even know what you don’t know.
Wan Spec Says:
April 14, 2008 at 3:59 pm RedP – I am not preaching doom and gloom. I am only pointing out that even Olint’s supporters have nothing other than faith or hope to hold on to.Faith is good when people are getting paid. When people are not getting paid, then the same blind unquestioned faith borders on lunacy. That kind of faith should only be reserved for believing in God. David Smith might be Super Dave, but he is not God.
JK Says:
April 14, 2008 at 4:00 pm as i always say time will only tell
JK Says:
April 14, 2008 at 4:02 pm one thing i would love to know…….why is it that TCI ppl praising him an we bashing him……..he obviously doing something good for them…..i doubt they would register him over there if he wasnt doin something right
Wan Spec Says:
April 14, 2008 at 4:06 pm Look at the requirements for registration in TCI. Do they reassure you?
dave Says:
April 14, 2008 at 4:10 pm I was wondering where Donovan Davis Jr. of Capital Blu bad mouthed DS and/or Olint. Because i saved the articles that was published on CBM and/or Donovan and the only thing i saw when he mentioned DS/ Olint was that DS was a “hell of a trader” plus i watch the CVM thing on TV and i don’t recall anything bad said. But if donovan said anything bad would mean he would be two faced because it was published about what he said about david being one “Hell of a trader”. if anyone could maybe post a clipping published on him saying something bad would help because the rumor thing bares no relevance. And if the kid really bad mouthed the guy who he first heard about trading FX from, He’s not credible either. What is it with FX Traders? Its always something. I thought I was on to something maybe i still am . Please let me know………
DR Says:
April 14, 2008 at 4:48 pm Opportunity, # 1043As Far as I know NCB has NOT YET closed “O” accounts….they are still in court…I think the final decision will come in June 2008.***********************************************************
Ppl, whether an organisation is regulated or not…a MAJOR RUN will wreck it…. even the great NCB or BNS would crash if we all went in asking for JA$500 million….they would not have it to pay ONE DAY, ONE TIME…They would need some notice…..

So at this rate, investors might really be put pressure on WW and O, and even MD by constantly withdrawing….. Think & Check.
Stress now Blessed Says:
April 14, 2008 at 6:01 pm MI READ DI BLOG AND MI TIAD!I’m going give my 2cents anyway…CINDY: Thanks for keeping your posts to a minimum.

O Members,
It is now very apparent that WE (O club members) are unsure of O’s future.
• Olint offers an explanation of a Due Diligence process in progress
• Olint has changed its expectant payout dates several times
• C+ demise promotes despair and anxiety for many O members

While many of us are keeping HOPE ALIVE that all will be well, it is still ok to question inconsistencies and authenticity by taking some appropriate action in a bid to get answers DIRECTLY from Olint / DS.

Let us STOP feeding this ever building anxiety with constant speculation. WASTE no more time on things we CANNOT change, but take courage and do the things we CAN!

Let us take the power away from the likes of “Cindy”, “FR” and others.

Take a few minutes to email dsmith@overseaslocket.com, or send a mail to the office in New Kingston stating our DISSATISFACTION in the service we receive by outlining the following:
• Olint’s LACK of frequent and transparent communication with members
• Olint’s OBVIOUS disregard for members
• Heightened ANXIETY due to the continued failure of clubs (C+, HW, Mini, RH etc).
• DEMAND reasonable timeframe for resumption of normalcy in encashment payouts.

Let us together take control of our situation.
Let us together fight for the answers we need to make independent and intelligent decisions to renew our confidence or discontinue relations with our club O.
Don’t allow those who have nothing to gain or lose, enroll us in CAMP SPECULATION and discharge us later to the care of CAMP DEPRESSION, because if we do – THEY WIN!

UNITED WE STAND – DIVIDED WE FALL!

SnB.
Question Says:
April 14, 2008 at 6:29 pm Yeah right.The truth is no matter what the detractors say, if Olint is being a victim of DD then it will pass and you will get paid. The detractors can’t box the food outa oonu mouth no matter how bad mind they are.If Olint is a ponzi (which I only partially belive)then you lot will get burned and detractors like me will be here looking on in wondering how delusional you all could be.

At the end of the day, we shall all see and remember money talks while bulls$$1t walks.
Mercury Vapor Says:
April 14, 2008 at 6:51 pm Mr. Texas said:“I personally talked to a senior trader in one of the largest FX trading firms in the US and he personally verified DS as a legitimate trader but had also confirmed that DS and LewFam had corporate accounts with their firm. They have accounts with several top trading houses.”Thank you for your post Mr. Texas. Would it be possible for you to give us the name of the FX trading firm? Or provide any information that I and other bloggers could do some research into?
Stress now Blessed Says:
April 14, 2008 at 7:11 pm I’m thinking now that dsmith@overseaslocket.com might generate an automatic response. Does anyone have another email address that we could explode with our emails damanding answers?Let us continue to ignore “QuestionABLE” Characters.SnB
Peace
Geotrdr Says:
April 14, 2008 at 7:53 pm @1065lol…Ya Mr. Texas. How about the man number too. That would be great.
Jim Says:
April 14, 2008 at 8:32 pm Hi. Just came across this site. Its real helpful. I have account with Capital Blu. Its held thru
Jim Says:
April 14, 2008 at 8:42 pm and ive been getting really nice returns. But im a bit concern with some of the negative comment on CAPITAL BLU and Donovan Davis on this site. Ive neever met him but did some research on the company and its all come back good. I cant really lose any money because my money is on hold at olint along with everyone else. Is there sometime i dont know about the company? And does DS or Donovan Davis log on to this site and if so what are their names? I would like to ask them some questions. Capital Blu offers alert services for trades. I checked it out its pretty cool http://www.profxalerts.com. I heard that some of the trading companies uses profxalerts to do some of thier trading. I dont know how good the source is. But i heard it when i attended the MTI training course, someone in the class said that he has a friend from world wise that uses profxalerts.
Jim Says:
April 14, 2008 at 8:57 pm i have close to 500k with olint. And ill be honest i dont beleive the Wachovia nonsense at all. David is problay the smallest account there and no one else who trades there is getting an investegation. I dont think Olint is the only client there. And if the Wachovia thing is true and i was david i wouldnt publish and 20% return. If they are investigating the account why is he still taking deposits? should’nt there be no activity? And if it is true shouldnt he be camping out at the Corp. office of Wachovia and not trading and giving returns that he cant pay. Ive been in olint for a long time and im fortunate to be playing with the “house’s” money since ive already got my initial deposit back……but ill be honest i had plans for that money!!!! The reason why i think my 500k is gone is because history in jamaica fx trading shows that when things get to this stage with a company they dont recover or not in any time soon.
Wan Spec Says:
April 14, 2008 at 9:05 pm LOL…seems like Capital Blu found this site and is trying to drum up business. Isn’t this the 3rd one today?
Jim Says:
April 14, 2008 at 9:07 pm Hey Mr. Texas thats bull$shit. I called every FCM on the planet to ask about OLINT, DAVID SMITH, OVERSEASLOCKETINTERNATIONAL….. and because of privacy and fiduciary acts it prevents them from disclosing any information about amounts, names and account numbers etc. Nice try though….you probaly work for David. You think we’re stupid and wouldnt call the FCM’s come on. Ive seen 5 million dollar hedge funds get talked about on BLOOMBERG but the billion dollars that david has doesnt get publicity.
RedP Says:
April 14, 2008 at 9:09 pm #1068
SNB, I don’t believe that the dsmith e-mail address is checked / current / paid attention to. I e-mailed them early last week to find out if I could get membership for an Offshore corporate entity that I want to set up out of Panama.
To date I have not heard peep from them.PS I still want to be spiritual leader!! Love and Peace
RedP
Jim Says:
April 14, 2008 at 9:12 pm are they liscensed in panama? if so i’m interested!!!!!!!
RedP Says:
April 14, 2008 at 9:14 pm Hey Drivah !! Is C/Blu paying you commission/advertising fees!! Doan stap atall!!
Mercury Vapor Says:
April 14, 2008 at 9:30 pm Re: Post 1076Jim, easy…take it easy partner. Mr. Texas said he spoke to a senior trader at an FX trading firm about DS. That to me sounds like he knows the trader personally, that is, they are friends. Let’s not attack people, and just keep cool.Mr. Texas, it would be nice though if we could verify…in some way…the things you said. I’ll give you the benefit of the doubt, but it would be nice to have some solid facts to go on…at this point, the blog really needs some.
Wan Spec Says:
April 14, 2008 at 9:41 pm Investors in the alternative investment scheme, OLINT, will know this Friday if the company has succeeded in staving off the National Commercial Bank’s (NCB) attempt to close its accounts.High Court Judge Roy Jones is to rule whether the injunction blocking NCB from closing OLINT’s accounts will be lifted.Mr. Justice Jones was scheduled to make the ruling Monday, but the judgement was pushed back to Friday.

OLINT and its investors are anxiously awaiting the ruling.

Thousands of OLINT investors rely heavily on these accounts remaining open in order to collect returns on their investments.

The closure of NCB accounts would be devastating to OLINT.

Last month Mr. Justice Jones reserved judgement after hearing submissions from lawyers for OLINT and NCB.

OLINT wants the injunction to remain in place until the lawsuit filed against NCB is heard.

But NCB wants the injunction lifted.

The bank argues that OLINT is unregulated and has consistently failed to submit its audited financial statements as required by law.

For its part OLINT said NCB is in breach of the Fair Competition Act as it sees the investment firm as a competitor
Wan Spec Says:
April 14, 2008 at 9:43 pm Chief Executive Officer of the Cash Plus Group Carlos Hill is to be charged on Tuesday with fraud following the collapse of his multi-billion dollar company.The charges come four days after he was taken into custody.Mr. Hill’s brother Bertram Hill and Cash Plus Chief Financial Officer Peter Wilson are also expected to be charged.

Defence attorney Hugh Thompson told the RJR News Centre that the charges will be laid Tuesday morning and the men will then be taken to court.

Mr. Hill, his brother Bertram Hill and Cash Plus Chief Financial Officer Peter Wilson were questioned for more than three hours on Monday morning by investigators probing fraud at Cash Plus.

The three were taken into custody last week in what the police say was an investigation into reports from Cash Plus investors that they have been defrauded.

##################

Man the case must be strong. They are going to charge him after just one day of questioning.
Fancy D Says:
April 14, 2008 at 10:28 pm Hi Guys….can anyone shed some light on this for me??? IS WORLDWISE in trouble also?? I have been bombarded with calls from relatives in Jamaica all weekend to take my money out because they are also going after WW….Is that so??
Mercury Vapor Says:
April 14, 2008 at 11:06 pm I’ve been thinking about Capital Blu Management…I see a number of people on this blog don’t like them. Personally, I’m not crazy about the company (or the head, DD Jr.) but I like the “model” that they are following. When clients invest with them, this is how it works:1. You open an account at a recognized forex broker, the account is in your name.2. You give them a Limited Power of Attorney (LPOA), this gives Capital Blu the right to trade your account.

3. Because of the LPOA, they cannot add, withdraw, or transfer money out of the account. Only you, the account holder, can do that.

4. At any time you can log into your account at the forex broker and see the open trades, as well as the profit or loss.

5. Capital Blu takes a percentage of the profits, that’s how they get paid. I think it is 20% of the new profit, and it is charged each month.

So this is the “model” that Capital Blu is following, and I like it. If they do not trade well and you’re unhappy with the results, you can revoke the LPOA at any time. Plus, since your funds are at a forex broker, you can get it anytime you want.

This “model” is how most of the managed forex accounts in the United States are. I think it’s a step-up from what we have to deal with in Jamaica. In Jamaica, you have to put your money in a forex trading club. With MD, O, WW, etc. you give them your money, they trade with it, and then pay you gains each month. However, you cannot see the trades that they make, you cannot see their real profit or losses for each month, or how much fees they are charging you for their service. How much do the traders at “O” or “MD” make? No one knows, because their fee structure is not revealed to their members.

Also, investing in a forex managed account like this is a way to avoid ponzi schemes…which, unfortuneatly, some of the alternative investment clubs in Jamaica have turned out to be.
Stress now Blessed Says:
April 14, 2008 at 11:13 pm RedP #1077I kinda “know” they will not respond to all the emails, but I was thiniking along the lines that if we ALL sent emails demanding answers rather than soliciting to become members, they would take notice and take action.
Kinda Hammering them in the face kinda thing.Just a thought.

On the other note, I was seriously thinking about your interest as “Spiritual Leader”, but when mi si your proposed spirit – Mi dont tink dat spirit will lift us up, it more would fling wi dung.

I might have to consider you for a DIFFERENT spirit leader.
Mercury Vapor Says:
April 14, 2008 at 11:17 pm Hey, do not take my post at 1088 as an endorsement of Captial Blu. I don’t have any money invested with them, and I’m not sure I will in the future. I like their “model” though, so the next investment I make will probably be in a managed forex account like this.I’m trying to do research on managed forex accounts because I don’t want to put any more money in any of the forex trading clubs. There are just too many problems with them, and no transparency, which really bothers me. If I find some good managed forex accounts I promise to post them on the blog.
InForTheLongHaul Says:
April 14, 2008 at 11:30 pm Mercury Vapour #1088. LOL. thanks for clarifying your position with follow up post #1090.
Very good idea to look into managed forex accounts though I dont think I would go thru Capital Blu at this point as from what I can see they have only been established for a very short time and therefore have no track record for us to know how they operate. Might be jumping from frying pan into fire.
Mercury Vapor Says:
April 14, 2008 at 11:45 pm InForTheLongHaul, very true my friend. I think I saw a report somewhere of Capital Blu’s performance, but it was only for one year. Before I invest in any forex managed account, I would want to see at least two years of good performance.Also, if I made any errors in my post, No. 1088…anyone…please indicate, so I and other bloggers will know.
Livin n Babylon Says:
April 14, 2008 at 11:48 pm Fed Up Now MoneyO – Was that a Compass card “load” or a wire? I ask because the only money that I have seen from Olint since early January was on my Compass card – no wires.
——————-
Sorry, guys I’m still playing catch up!
Stress now Blessed Says:
April 14, 2008 at 11:55 pm LnB
FedUp got her daisies from MD not Olint.
Mr Texas Says:
April 15, 2008 at 12:04 am I will not reveal the the ways or means of the converstaion, but as I was investigating setting up a mnaged account several months ago before deciding to set up my own Hedge Fund, the senior trader of a very large FX Trading firm verified DS and Lewfam having accounts with them through apassing conversation. This is what caused me to intailly invest with Lewfam. I have no other reason for revealing this information other than trying to bring peace to you all that are very shaken. I will not conceal any other information, nor will I respond any further. For the record, I do not even hold an “O” account, only with Lew Fam. Lew Fam is still dispursing funds.Although, I do believe that both DS and Lew fam are liget, they are having very real situations with the banks. I do feel however that all you folks will be taken care of, but all this fear is only going to make things worse.Consider this, Lew Fam is tied completely to “O”, so why are they still dispursing funds. If O is going down, then why would Lew Fam still be dispensing funds.

This will be my last post.
Livin n Babylon Says:
April 15, 2008 at 12:17 am Has anyone received a wire from Olint since early January?
—————–
Jim, I’m in a similar boat. I am having a hard time believing this story, but here’s one that I could speculate on as a possibility.DS is trading along, thinking everything is fine. The staff is moving cash around in a loose manner, because cash is all over the place – no proper controls and no audits to spot anything in a timely manner. David has a number of withdrawals while new funds continue to dry up. He stops to take in the situation and realizes that he has a few million less than he believed (sloppy accounting, friendly “deposits”, embezzlement, etc.). He determines that if 3 to 4 months he can make it back, but people can’t pull their funds or he won’t be able to trade. Optimistically he had hoped to be in the clear by the end of April, now more realistically he’s seeing end of May.We can only hope this is the case – a guy buying time to dig himself out of a hole. Wouldn’t that be nice? And if this hopeful speculation is true (and David since you’re listening) fix this mess once we’re all on the other side!
PLEASE! I say this because I can’t think of a graceful way in which he could disclose this kind of in-house mess without making matters worse, even though this is actually what we would all like to hear: a real story.

Now we have this absurd e-mail about business hours changing, but crafted in such a way to make it sound as though something significant is happening when in fact they’re just cutting back. Even here who can blame them. The staff is doing nothing but hearing stories and woes from us with questions and concerns that they can’t answer. WAYNE – TALK TO US!
Livin n Babylon Says:
April 15, 2008 at 12:24 am Mr Texas – Don’t go, I’m just getting caught up! Do you know Cynthia at LewFam? The last time I spoke with her, they were still working on the managed account side with GAIN Capital. She told me that she would call back when things had changed, but no word as of yet.That is interesting about LewFam keeping up with encashments since most of their trading is through David. Also, I was curious about your hedge fund. We have gone around and around on this, but have finally settled jurisdiction(s) and I have a great portfolio of traders – let’s talk armourytrust@gmail.com.
DH Says:
April 15, 2008 at 2:50 am post 1096
Sounds Plausible because they are many persons that have made withdrawals and the accounts aren’t updated and still getting gains on that withdrawn funds. And can even withdraw a second time. Therefore they may have realize that money a paper(more) not matching money in brokers account(less)
concerned 2 Says:
April 15, 2008 at 6:11 am Any intrest posted to MD accounts yet?My account is temporary deactivated because they didnt get one of the documents they required.
I was told by today intrests payments should be updated.
Ronnie Says:
April 15, 2008 at 6:17 am 1096 & 1098, LnB, DHA bigger problem is this: Suppose DH had 10 friends in his forex club, DHC. Each person has $100 with DHC. Each day DHC does some trading. Day 10 DHC porfolio is up 5 %. The value of each clients account is $105. Day 20 DHC portfolio is down 5 %. The value of each clients portfolio is now $95.How come everyone can call up DHC at any time and request to redeem their principal and always get back $100. If their is panic and a run on DHC and 7 clients call up to redeem during a down time, Day 20, the portfolio is only worth $950. DHC gives them $700 leaving only $250. The remaining 3 people now each have $83.33. They have not lost 5 % but now they have lost 16.67 %.

Notice how my analysis did not even factor and deduct the fees paid to DH. Or expenses like employee salaries and so on. Can you see why the account has to be valued each day so that people get the value of their account on the day they redeem? Unless you are running a ponzi if people don’t get the actual value of their account on the day they redeem, especially in panic and rush time the club will die. If it is a ponzi it will die too.

If valuation is being done daily and accounts redeemed for actual amounts and proper accounting and auditing is being done, no matter how many redemptions a FX club will continue albeit with fewer clients. Most forget that the major reason for external auditing is not because the FSC wants it but is to ensure no one is stealing the money or it is being given away.
RedP Says:
April 15, 2008 at 6:46 am #1089
Dearest SNB, Fret not thyself,I am not that much of an imbiber. I love the Lord and take my walk with Him seriously. That is why amidst all this uncertainty with DS, His peace surrounds me and I fret not,no matter what card draws.Love and Peace,
RedP
Futures_trader Says:
April 15, 2008 at 7:17 am ronnie#1100Thats one of the best post I have seen here.My only problem with what you are suggesting is that I thought that only a small percentage of capital is being traded at any one time because of the supposed leverage.

I cannot see how DS can give constant profits month after month and still be able to give back full principal and do not have any draw downs. This is the reason I question if O is legit or not.

Maybe someone that is invested with O can shed some light on how much of an investor’s capital is being traded at anyone time and how much is protected. And if their is a contract that state such.

If O is a legit organisation, I think internal controls may be what has brought them to their knees.

One last thing, As the fund manager I cannot understand why DS and his management team would allow anyone to pull any large sum at once that could damage operations and have a negative effect on other investors.

The only way you allow this to happen is if you dont have proper internal controls and have no idea what is going on with the accounts.
RedP Says:
April 15, 2008 at 7:35 am #1102
Futures trader, with O’s ‘A’ account 20% is traded, 80% protected, ‘B’ account 50% of funds at risk.
However I would have to check back to see if it is so stated on the contract.
RedP
Wan Spec Says:
April 15, 2008 at 7:38 am LnB – # 1097. In spite of the ominous signs, I still find it hard to believe that Olint is / was a ponzi, and while I don’t completely swallow the due diligence business, I think yours or a scenario similar to yours is the most likely. I am aware that the reason I believe that maybe because I am in denial.I will keep the faith, diminishing daily until one of two things happen. I call down there and no on answers the phones, or come June and people are still not getting paid, then I will truly accept that its over.BTW, does anyone have any explanation why Cash Plus kept answering their phones right up until the implosion? Why wouldn’t they conserve cash and maximize their booty and cease operations. They must have known that the end was near.
danews Says:
April 15, 2008 at 10:08 am we are goint to speculate till June…what are our options ?. we can bombard them with questions … but NO ANSWER WILL SUFFICE WHEN WE ARE NOT GETTING OUR MONEY..we continue to kid ourself that if we get a reasonable explanation, then we will easy… thats BS..

the simple fact is ‘any answer is good enough when we are getting money.. HW with football competition and Carlos Hill with selling phone cards, those were all bull, but we were getting money,

conversely, NO answer, no matter how reasonable will suffice when we are not getting any money and have bills to pay.

right now, everyone should really ask them self if they have the risk appetite for HYIP, because with the huge profits, there is also the huge losses…

truth be told, most people here are better off in the security of a commercial bank and 10 % per year
Tanya lee Says:
April 15, 2008 at 11:07 am I heard yesterday that wachovia lost over 1/2 billion $ over tha last quarter. They are currently trying to raise money by end of april/late may.This sounds consistent with what DS have been saying or not?
Geotrdr Says:
April 15, 2008 at 11:19 am A lot of sheep in here will be suprized to find out who is really behind Cap Blu. Then they will connect the dots. Some people in here may already know but i doubt it.Cap Blu going to try and move hard on the caribbean. The capital has been pulled to do it. Right Cap Blu guys. I know you in here. Come on out and play nuh. You ditch donovan yet? Is he in the naughty corner? How come the web page don’t have the management team on it? And how you really go do that to you friend? Tisk tisk tisk.
Wan Spec Says:
April 15, 2008 at 11:21 am Tanya Lee – 1107. Profit and Loss at a bank has no direct bearing on the ability of a bank to service withdrawals. Even when a bank has bona fide liquidity problems, it has the ability to quickly get funds from a number of sources such as the inter-bank system, where banks can borrow from other banks at very low rates or the discount window at the US Federal Reserve. Avoiding disruptions which result from temporary liquidity issues at US commercial banks is one of the main functions of the US Federal Reserve System, and it does that rather well.Additionally, that is NOT what we are being told by Olint. We are being told that they are conducting due diligence, which by itself has nothing to with liquidity at the bank. Those two issues should properly be separate.
Wan Spec Says:
April 15, 2008 at 11:23 am Here is one man who can get answers from Olint. I guarantee you they will take his call. Mark Wignal from the Observer newspaper.Here is his email address; observemark@gmail.comSend him an email.
Tanya lee Says:
April 15, 2008 at 11:24 am lewfam paid up to march 15 2008 on time ane even early than 2 weeks notice. now they are saying requests will take april 21 or up to 4 weeks. they cannot say definitively since they waiting on the broker.Any body else notice this.
Tanya lee Says:
April 15, 2008 at 11:35 am does anyone has a list of the frequently asked questions from olint. this was there last communication
Enlightened Says:
April 15, 2008 at 11:38 am The latest according to the current press conference:Cashplus has 80 companies
Carlos hill has 106 companiesCountries: London,Kuwait,Germany,holland,Turks and Cacaois

The T&C trust Galeina Trust Company Has had Billions Of USD passing through it.

Questioning revealed that for some time now the director have been aware that cash plus is a “pyramid Scheme”

The directors are expected to be charged for Fraudulent conversion, Moneylaundering among other on Thursday.

My question is where is Khalil Harris (cashplus president) and Christopher Goldbourne (cashplus Senior Vice President)?
Enlightened Says:
April 15, 2008 at 11:43 am Nb… and this is important…Les Green (assistant commissioner) indicated that the police have been receiving other reports of other alternative investment clubs and are currently investigation the reports and will be taking action.
dave Says:
April 15, 2008 at 11:51 am What do you mean “did you guys ditch donovan yet?” doesn’t he own the company with his partners?
wardog Says:
April 15, 2008 at 11:58 am who are the top people behind CAP.BLU?
Roli Says:
April 15, 2008 at 12:00 pm I think the other one is Higgin Warner
dave Says:
April 15, 2008 at 12:04 pm I think the top people/owners at Cap. Blu are Donovan Davis Jr., Blayne Davis, And Damien Bromfield. I read that in the observer.
cookie Says:
April 15, 2008 at 12:05 pm enlightened stop using your employer internet to send blogs. Your students need there papers marked…..lol
wardog Says:
April 15, 2008 at 12:08 pm who are the top people behind cap.blu
Wan Spec Says:
April 15, 2008 at 12:22 pm Five days after he was taken into custody, Head of Cash Plus Limited Carlos Hill has been charged by the police on Tuesday morning.This was announced at a press conference called by members of the Organised Crime Investigation Division who gave an update on the probe into activities involving Cash Plus.Charges were also laid against Mr. Hill’s brother, Bertram Hill and Cash Plus senior executive Peter Wilson.

This follows three days of interrogation by senior investigators.

Lead attorney for the men, Churchill Neita, told said the three are to appear at the Corporate Area Criminal Court on Thursday.

Police say the details of the charges will be released on Tuesday afternoon.

Mr. Hill, who was arrested at his Norbrook, St. Andrew home last Thursday was questioned Monday in relation to allegations that he defrauded investors.
Mercury Vapor Says:
April 15, 2008 at 12:25 pm You know what would be funny, if we found out the real “big man” behind Cap Blu is MLC!He seems to want to monopolize everything in the Caribbean…supermarkets, cable, etc…now maybe even forex trading?
OneJam Says:
April 15, 2008 at 12:29 pm I just hear the very last piece on Nationwide. ……… CH has $B in many counties and ppl may get back money if other country willing to help. Is this true. Pls only facts. Willing to listen to opinions once stated as such.n
Wan Spec Says:
April 15, 2008 at 12:53 pm A friend of mine has a severe personal situation which she explained to a manager at Olint two weeks ago and was give a promise of a payment from an alternate account by today by the Olint manager. Of course the money has not arrived and when she called today, she was told that the instructions were sent but that there were no funds in the account, and she may not get even this payment until May or June.If you want to do something positive send Mark Wignal an email. He was an early booster of Olint and he should be able to get some answers from David or Wayne. Send him the questions you would ask David if you had an opportunity.His email address is observemark@gmail.com
concerned Says:
April 15, 2008 at 12:56 pm 1 billion euros in a swiss account
but guess what C+ is not the brainchild of CH but BH
CH was just overseeing itmore to come
Mercury Vapor Says:
April 15, 2008 at 1:11 pm Re: Post 1124Wan Spec said: “If you want to do something positive send Mark Wignal an email. He was an early booster of Olint and he should be able to get some answers from David or Wayne. Send him the questions you would ask David if you had an opportunity.”I don’t see the point in asking “O” any more questions. They have given us the reason for the delayed payments. It’s up to us to either believe it or not. Most people on this blog don’t believe the story “O” has given, but asking them, or asking Mr. Wignal to ask them won’t help…they will just say the same thing again.
Mercury Vapor Says:
April 15, 2008 at 1:17 pm What about getting some information from the Financial Services Commission (FSC) in Turks and Caicos?Does anyone have any relatives or friends in the Turks and Caicos? Ask them to go to the FSC there and see if they can find out anything about “O.” If “O” is registered, shouldn’t the FSC have some useful information?Peace
unreal_investor Says:
April 15, 2008 at 1:23 pm I just heard on Nationwide News that Carlos Hill have unconfirmed US$ 7 (seven) billion in various accounts over the world…
Patricia Says:
April 15, 2008 at 1:55 pm Enlightened word out is that one such exclusive club is R.A’s ME…funny how after his meltdown even though members talking openly, and even ON AIR, about the losses no charges were ever laid…Geotradr@1108 LOL and LOL again..just watch it unfold
wardog Says:
April 15, 2008 at 2:08 pm MLC made forbes mag of billionare with 1.6 billion how come CH is not on the list…
Wan Spec Says:
April 15, 2008 at 2:15 pm Mecury Vapor, it depends on what they are asked. In one instance they just came out with what they wanted to say. If there were asked precise questions then you might be able to get more satisfying answers.
unreal_investor Says:
April 15, 2008 at 2:16 pm NNN seh 7 billion USD and he had secured a loan for 1 billion USD from January… or something like that.. I guess he who laughs last…. laughs best…. I hope this is good news for C++ investors lol…
OneJam Says:
April 15, 2008 at 2:19 pm ok heard some more on nationwide. part of the 7 Billion is in letters of credit and loans, bank guarantees and some cash.We need to see if these are genuine and not fraudulent. If docs fraudulent then his ass dark, if true then it may be a light at the end of the tunnel…… hopefully not a train.
Lots Ofmoney Says:
April 15, 2008 at 2:45 pm Breaking news on Wachovia….post net loss of 350 mill in first quarter…..what kind of impact is this going to have on O???…..http://finance.sympatico.msn.ca/investing/news/breakingnews/article.aspx?cp-documentid=6774723
Futures_trader Says:
April 15, 2008 at 2:53 pm I’ve been wondering what the risk tolerance is for the bloggers here. Lets suppose DS came out and say that the present fund is bankrupt and that there is no money to pay anyone, but that he want to start a new fund from scratch..Would you invest and under what conditions? this may be the question some people may need to ask themselves going forward.I am reminded of the big energy trader, Brian Hunter from amaranth, that loss 6 billion dollars on his energy trades.

He then had no problems in getting billions of dollars to start another fund.
Wan Spec Says:
April 15, 2008 at 3:09 pm Lots Ofmoney # 1137, that was already answered in 1109.
unreal_investor Says:
April 15, 2008 at 3:10 pm Wachovia need to ask Mr. Hill for a loan… LOL..
Futures_trader Says:
April 15, 2008 at 3:10 pm #1137 Lots of moneyAll these bank write downs should not have any affect on O. Most of these losses are from the bad paper these banks are holding from the subprime mess where people are walking away from their homes everyday.Olint is just using the bank for a service in their brokerage unit.

As you realise that is two different units in the bank thats not related to each other. If you check the numbers closely you will see what I am talking about.

If you checked out GE(general electric) last week they reported their numbers and a lot of their losses were from their financial unit. It took about 45 billion off of GE market cap and brought down The equity markets last week.
cookie Says:
April 15, 2008 at 3:40 pm I just spoke to someone at lewfam about the delays for april. Payment should be made by 21st of april.I was curious as to way there have been paying ontime for the last three months and not olint. They explained that they have no affilation with olint except that they share the main trader david smith.thats why there has not been any delays for payments from lewfam. They are having a backlog now because olint had a higher than normal run on its account. This raised a red flag on olint account causing a restriction and investigation.So money is money transfer is being transfer from the bank at a slower rate. so between now and next 3 months the time delay may be about a month for lewfam.
dave Says:
April 15, 2008 at 3:41 pm Don’t you need to be registered with the NFA and/or CFTC to even have an account with Wachovia to trade thru? The majority of the FCM’s in the US require them to be a CTA. I called a hand full of them. I wonder if the wachovia thing is true? If O had a billion dollars and someone posted that wachovia anounced a 350 mil draw. Wouldn’t the run on O be announced from an FCM that had to pay out?
Mercury Vapor Says:
April 15, 2008 at 3:55 pm Dave, read Post 140 by Livin N Babylon.
Floridan Says:
April 15, 2008 at 3:55 pm Here is the link to an article I found concerning DUE DILIGENCE by banks for anyone who cares to read ithttp://www.bis.org/publ/bcbs85.htm
PEI Says:
April 15, 2008 at 4:02 pm yes we can all emails DS and mark Wignal but what about we also email the halmark bank. When me join otci I sign a contract with that bank. Maybe we should email them too the email is info@hbtl.tc there number is 649 946 5524. How I see it if we contact as many who have any connection we might start get some real answer.
timetomove Says:
April 15, 2008 at 4:04 pm floridian no pun intended but that article has been around since 2001. Olint much younger than article. When the money did a come to wachovia there was no problem. Now it a go out its a problem.gready capitolist
Floridan Says:
April 15, 2008 at 4:06 pm At the bottom of that page I suggested, there is a 1 page ATTACHMENT entitled,General Guide to Account Opening & Customer IdentificationThe Attachment is 1 page, but the full document I suggested in the link is 25 pages long… So for those who want to read all 25 pages go ahead… It is very good info… For those who want to read 1 page, read the Attachment document I suggested above.
timetomove Says:
April 15, 2008 at 4:07 pm A did same thing happen to mi with did bank inna the us. When lodge mi check not a sound. But the other day mi try wire outa the country and is pure problem fio get it.
timetomove Says:
April 15, 2008 at 4:17 pm But DS need to have some way to secure a line of credit to make payout because some small people need the money to survive.The rich guy them alright.
unreal_investor Says:
April 15, 2008 at 4:30 pm Complex web of activities linked to Cash Plushttp://www.radiojamaica.com/content/view/7283/26/
Wan Spec Says:
April 15, 2008 at 4:34 pm 1148 – Good idea PEI. But the contract we signed says that Hallmark has no say over how Olint is run. So I suspect there is not much leverage there. But calling might get someones attention.
timetomove Says:
April 15, 2008 at 4:39 pm unreal 1153 If that is true then ch may be laundering money for someone else.eeeh wnadre whre the money trail will lead…lol
unreal_investor Says:
April 15, 2008 at 4:43 pm Timetomove, if he is laundering money, then good question…
Stress now Blessed Says:
April 15, 2008 at 4:53 pm AAAH BWAAAY!
Mi jus a reflect pon something aloud!Mi caan bada go dig up ina archive yaH man…. but mi just a read between the lines of Unreal_Investor’s post at#1135
“NNN seh 7 billion USD and he had secured a loan for 1 billion USD from January… or something like that.. ”

OBTW – MI TALKING TO MI SELF OUT LOUD!
paul h Says:
April 15, 2008 at 5:46 pm Enlightened#1114 and Patricia #1131 let’s be careful what we put out.ACP Les Green categorically stated that there are rumours out there of ongoing investigations into other schemes and that rumour has no truth to it .He went further to encourage complainants to notify the police if they had legitimate concerns and they would then investigate.I too was surprised as I thought investors in HW had already made an official complaint.
cookie Says:
April 15, 2008 at 5:47 pm no one has explained why lewfam is paying but not olint…….
paul h Says:
April 15, 2008 at 5:48 pm BTW that was on the NNN midday news
paul h Says:
April 15, 2008 at 5:54 pm Lewfam originally took in funds and placed them with DS.For that there was a membership contribution of 20% of the monthly gains.Lewfam has several nfp christian organizations that they sponsor. It’s quite possible that because of their mission and very frugal lifestyle they might have shored up and are able to weather the storm along with possible fresh ongoing infusion of investments.
cookie Says:
April 15, 2008 at 5:56 pm time to move…maybe noone knows anything. hopefully someone will read this blog and answer
Sharonette Says:
April 15, 2008 at 5:59 pm CH…in deep deep shaving cream…….
He has a lot of explaining to do….Hopefully the money will be found and investors will be paid….i dont have money with C+ but given the option of principal or nothing, i would take principal.
Paul H…how that thing guh bout complaining bout other investment schemes?…..HW went running with my money and i sure would like someone to start trailing Max.
DR Says:
April 15, 2008 at 6:01 pm The due diligence is over, both the internal and the external, where is my daisies? Today is April 15……what’s going on?I am getting a bit upset now…Still waiting for eight weeks for my daisies to bloom….this is frustrating….Well I guess the FSC was right afterall, Think & Check….. Some of us lost money in Minvest.. some in SwissC, some maybe in C+….there is life so there is hope….we can rise again….We shall Overcome.
cookie Says:
April 15, 2008 at 6:01 pm paul h I understand what you are saying but how does the charity contribution have to do with anything.lewfam say people will get their money by april 21st , why not olint.
cookie Says:
April 15, 2008 at 6:06 pm but thats for 3 months
cookie Says:
April 15, 2008 at 6:10 pm but thats for 3 months, why not longer.They say they have not affilition with olint except with DS
Patricia Says:
April 15, 2008 at 7:30 pm PaulH @1160 uh huh, yea, right.oh btwhttp://www.go-jamaica.com/news/read_article.php?id=1649
Livin n Babylon Says:
April 15, 2008 at 8:14 pm Cookie,
Unless I’m missing something here, LewFam is different in two ways. 1) They have there own traders in addition to David, and 2) Their account is their account, which David trades. LewFam got their start with David’s help, but they are their own club/entity with their own rules. In fact, the last time I spoke with them they were in the midst of trying to put together a “Managed Account” process for new applicants – particularly those of us here in Babylon.
Livin n Babylon Says:
April 15, 2008 at 8:27 pm PEI #1148 – I hear ya, but I must say that I have spoken with them at length and they are frustrated. They can only process what Olint transfers and now they are stuck with us calling just like Olint’s staff. They are nice people dealing with frustrated investors and consequently (just like David’s own staff) they have no power and no words of comfort.A deeper fear from my end is that when I transfer funds from Babylon to Turks Caicos with Hallmark being the ultimate beneficiary, I may have no recourse because I was sowing funds into a trust company. In other words, this can be – among unscrupulous parties – legalized theft.Where I do agree that something must be done is the potential filing of charges in Turks Caicos if we do not see the minimally stated 80% of principle per the agreement for plan A members, because the statue of limitations tends to be very short in these Caribbean haven countries. I hate to write these words, but we should learn what recourse if any even exists.
Patricia Says:
April 15, 2008 at 8:50 pm Anyhoo..dont know if you socialites remember Muna Heaven, The Jamaican Lawyer who was booted off the Apprentice…well when I heard that Bertram Hill, brother of Carlos was arrested, I thought that name is familiar, didn’t so and so marry someone by that name in a rather “Heavenly Affair”, last Christmas..so I went a digging…lo and behold she did, but is the JR, son and nephew to the Original Ganster…check out some of the guests in attendance.http://www.jamaica-gleaner.com/gleaner/20071230/social/social3.html
Rich Kid Says:
April 15, 2008 at 9:26 pm MD really a annoy mi now yuh nuh
Stress now Blessed Says:
April 15, 2008 at 10:00 pm Rich Kid,
what happen to you now?
dehustle Says:
April 15, 2008 at 10:21 pm Hi Guys
Have been trying to avoid the blog as it has been giving me a headache but ….. like any true crack addict keep coming back for a whiffPAT, I didn’t waste my time away though actually got that blond wig but me bad mindedly keep it for mi new avatar “Check it out” (Hopefully that will put mi up to a least REDP level in the O payment queue)
And If all else fails note that we are scantily dressed for the “hustlings “ I may have to do come end of May or is it June or ….JulyHmm …Why worry When U can Pray
Peace
JohnDoe Says:
April 15, 2008 at 10:30 pm O, MD, and WW should find this quote interesting“Defendant also confessed that between August and December 1986, he and his co-racketeers employed misrepresentations, false statements and delay tactics to prevent customers from obtaining refunds, while at the same time, diverting the advance fees to their own use.”
“Those who do not know/ignore* history are doomed to repeat it”
RedP Says:
April 15, 2008 at 10:40 pm Question: 1. Whats the point in giving funds to C/Blu when they trade through FXCM and PGF BEST and charge you 20% – 30% of net/month. Why not just ask FXCM or PGM to manage your account??Question: 2. Do you think it possible that Carlos actually did intend to pay back evry smaddy but because of FSC/NCB did not really get a chance to get his sh-t together? What say you all out there in blog land.Question 3. Wouldn’t it be great if a bad ass attorney like Churchill Neita could manage to get A/hole MLC on the stand whilst defending Carlos?? That would be interesting!!

RedP
RedP Says:
April 15, 2008 at 10:44 pm #1177DeHustle, WOW WOW BRAP BRAP, welcome to the club!!
Stress now Blessed Says:
April 15, 2008 at 10:48 pm RedPQ 3- How about if Johnny Cocharan neva ded? He would say to the FSC, NCB and di Prosecutor
“if it doesn’t fit, you must acquit”
OneJam Says:
April 15, 2008 at 11:17 pm But SnB, “it does fit, so you must convict” ……… pls re-read this article link bwlow and u see the similarites and CH strategy at work. We all should read this again. We will now understand the man that CH is and his plans. he know what he was doing by calling in the receiver coz nobody nah get hime money. He is the Don of Cons.RedP …. Question 2: Him neva plan to pay back nobody ….. why should he…..him get whey with it once and heim going try do it again. Him fool the big big US courts and he going fool the JA courts too, watch the proceedings. Churchhil is the best man for the job, him going to walk free.Read this again and u see he has done the same thing AGAIN.

http://www.jamaicaobserver.com/news/html/20071204t220000-0500_130057_obs_the_trials_and_convictions_of_carlos_hill.asp
Mercury Vapor Says:
April 15, 2008 at 11:39 pm Re: 1179RedP asked: “What’s the point in giving funds to C/Blu when they trade through FXCM and PGF BEST and charge you 20% – 30% of net/month. Why not just ask FXCM or PGF BEST to manage your account?Ok, FXCM and PGF BEST are forex brokers. So you can open an account with them and then trade the forex market. They will not trade for you, i.e. manage your account. If you do not have the skill, experience and time to trade your own account you can pay a professional forex trader to trade your account (a managed account).

Now, professional forex traders that offer their services all charge between 20% to 30% (of new profit) for their service, that is how all of them get paid. Some charge even higher, like 40%, and some charge monthly while others quarterly. Forex traders don’t work for free, they all charge for their service.

Ok, now that I’ve explained that…actually FXCM has recently also offered a few managed accounts. But again, the fee structure is the same. They will charge you 20% a month from new profit made on your account. Plus, they will also charge you a 2% management fee each year.
Patricia Says:
April 15, 2008 at 11:49 pm Hey J’can or LivinginBab….tell me ’bout a good ETF…the C’dian govt look like they’ll be whittling down the tax benefits on them, so not so sure how much more beneficial they’ll be vs. mutual funds…..how is it looking over in Babylon?….what about REITS, as oppose to actual r/e pses?…I’m waiting to see more fall in r/e prices esp from NC down to Fl, b/4 jumping in….I’m thinking there’ll be another 2-3 yrs of prices slumping…what do u guys think??
RedP Says:
April 15, 2008 at 11:49 pm You guys are so helpful!! BOOM, Unoo a di best!!Love and Peace and to all a good nite.
RedP
RedP Says:
April 16, 2008 at 6:40 am Good Morning folks, I see that you all went to bed early and can’t wake up this morning!Tip of the day: Psalms 1
Blessed is the man that walks not in the counsel of the ungodly nor sitteth in the seat of the scornful nor standeth in the way of sinners but his delight is in the law of the Lord.If any of you are in the hardware business be on the lookout for unscrupulous characters (ginnals) selling steel below cost price. Apparently about 60 odd tons was stolen from Tankweld Metals recently (inside job).
My father in law was approached about a week and a bit ago to purchase some, needless to say he declined. Him no waan hug up Carlos an im nah no vaseline!!

Besides, How can you expect God to bless your business if you are going to sell tiefing goods.

More time people,
RedP
RedP Says:
April 16, 2008 at 6:43 am Living N Babylon, check your e-mail please.
DR Says:
April 16, 2008 at 7:03 am C+ story continues:-http://www.jamaicaobserver.com/news/html/20080416T010000-0500_134600_OBS_CASH_PLUS__PR_CONSULTANT_ARRESTED__CHARGED.aspOh boy:-
US $7 billion off-shore: wow

http://www.jamaicaobserver.com/news/html/20080416T010000-0500_134601_OBS_CASH_PLUS_DRAMA____CARLOS_HILL_AND_CO_ACCUSED_CHARGED_WITH_FRAUD.asp
DR Says:
April 16, 2008 at 7:29 am Think & Check:-CH was “leaching” around to get “forbed”…. but alas “Bruce Lee” said oh no….. I’ll do whatever it takes to mess you up.
Can you beleive, CH might be richer than “you know who”.They might have achieved their “US dollars billionaire” status by doing two different things but who says they were both “legal”.

hint: Afterall ‘ponzi’ and ‘pharmacist’ both starts with a “p”..ha ha ha h ah a a
DR Says:
April 16, 2008 at 7:32 am People, The Hill is now a mountain!
DR Says:
April 16, 2008 at 7:42 am Take a look at the list of the world’s richest…Tell me something is the #3, Carlos Slim Helu, the man who bought “miPhone”? hmmmmmJamaica’s Hill could have made the list at #104….wow

(I think this list is out-dated because I think I heard that Gates was now #3)
Stress now Blessed Says:
April 16, 2008 at 10:10 am DR-
You are an idiot!
Seriously though you mad a good point.If you look closely you could get Hill out of “Slim Helu”-ha ha ha ha ha I crack me up!
DR Says:
April 16, 2008 at 10:11 am Oh my….US$7 billion is approx JA$500 billionwow… Could that write off the debt of the whole country?
DR Says:
April 16, 2008 at 10:14 am So MiPhone is owned by America Movil:- hmmmhttp://www.miphone.com/dynaweb.dti?dynasection=aboutus&dynapage=about
DR Says:
April 16, 2008 at 10:21 am Jamaica not doing too badly after all with all these US dollar millionair Investors…… oh my:-1) Carlos Slim (Mi-Phone)
2) Carlos Hill (Cash +)
3) Michael Lee Chin (NCB and a big piece of Jamaica)View “Carlos Slim” profile….interesting
http://e-tertain.blogspot.com/2007/04/forbes-carlos-slim-is-worlds-2nd.html
Stress now Blessed Says:
April 16, 2008 at 10:22 am DR-
You tink dat now dat CH under pressure him wi tell dem seh HW was a partner in crime?Memba sah a HW was taking new ppl when C+ became one of their biggest clients.What a sin ting.
DR Says:
April 16, 2008 at 10:29 am Wayne Chen spoke:http://www.radiojamaica.com/content/view/7150/26/
DR Says:
April 16, 2008 at 10:31 am SnB,ARe you really trying to imply that there was a relationship between C+ and HW? I don’t think so…I never heard that before…no sah…“Birds of a feather…..etc
Pip Unit Says:
April 16, 2008 at 10:52 am When trying to request money from Lewfam what have been some of the responses that you all have been getting?
Stress now Blessed Says:
April 16, 2008 at 11:03 am DR-
Check it out…HW runway right before C+ fell. I would not be surprised if they are tied to the hip- Conjoined twins. I see something even more sinister here; what if we were to find out that Swiss Cash and all those other clubs that came and went into thin air at lightening speed, were a byproduct of C+ but a US$ generating component?
Anthony_dundee Says:
April 16, 2008 at 11:05 am pip unit is there anything wrong with Lewfam? Let me know asap I am a member of Lewfam? I two others in lewfam, one took 11 days one took 3 weeks earlier this year.
Let me know what you hear. They had a great March in terms of return 14%
email me anthonythelandman@yahoo.com
Geotrdr Says:
April 16, 2008 at 11:47 am @Pat 1131I will. You know whats going? You know about J having plans for it? Lets see what happens. Come nuh Cap Blu guys…..say something nuh. Rope in nuh. Nuhting nah go bite you.
Geotrdr Says:
April 16, 2008 at 11:48 am Anybody interested in getting come constructive chit chat going in the fx traders forum?
Floridan Says:
April 16, 2008 at 12:01 pm Two questions…1. Carlos Hill sane or insane???… Man can have them breed a money and still a thief more???2. Patricia… Since you sound like a lawyer, doesn’t Jamaica have a form of RICO Act where they can seize the proceeds of crime???

My thinking is that if Hill really have US$7 billion, they could seize that, payout the J$4 billion that owe to the 40,000 investors and use the balance and pay off Jamaica National Debt.

Just a thought…
OneJam Says:
April 16, 2008 at 12:25 pm Carlos feel he brighter than the backward Jamaican people. He fool the big white US govt people so he can do the same in Jamaica. Was he successful ? Only time will tell !!!So to answer the question is he sane or insane ? He is half crazy ….. not full crazy only half or as my old man would seh, him a half idiat nuh a full idiat !!!
Patricia Says:
April 16, 2008 at 12:55 pm Floridan, Miss Patti is a hustler and does not live in JA, so she cant do anything but ramble, sometimes in her sleep…..ok!!!that said, yes, there is similar legislation.And,I gather there wont be as much SOCA if they unleash the full force of the POCA and other related laws and regulations.
dave Says:
April 16, 2008 at 1:26 pm what is Donovan Davis Jr.’s username on this site?
Blessed Child Says:
April 16, 2008 at 1:35 pm Greetings all
I dont post on here but read almost everyday. THIS JUST IN: I received an email from LEWFAM that they will be taking 1% of my April earnings to go to the “Caribbean Currency Traders Association (CCTA)”. They will “Promote professionalism, adoption of fair practices and just and equitable principles of trade” and a long list of other things.I havent had any problems with Lewfam and have no problem donating 1% of my funds
JohnDoe Says:
April 16, 2008 at 1:50 pm Few Questions….1. Where is the CCTA registered?
2. Who are the principals?
3. Who are the members?
4. Do they have a charter?Are they telling you or are they asking you about that 1%?
JohnDoe Says:
April 16, 2008 at 1:52 pm Tip of the day: Psalms 1
Blessed is the man that walks not in the counsel of the ungodly nor sitteth in the seat of the scornful nor standeth in the way of sinners but his delight is in the law of the Lord.How do you expect God to bless you when you have ill-gotten gains?See these Ponzi/Scams: Charles Ponzi-1920, New Era-1980s, Better Life Club-1998, CEP trust -2007, Wealthpools-2008

In all these cases, the Courts/Receiver, asked/ordered ” investors” who had received more than the principal they had put, i.e. “profits” to return it. Those who failed to, in a some cases, have had their names and amounts owed to the scheme(receivership), published to the public and were sued.

Are people ready to make restoration/refund when the MD,WW,O,CP(in receivership) receiver calls and knocks….

And don’t forget that once the records are available the issues of TAX EVASION and MONEY LAUNDERING

How can you expect God to bless your business when you have ill-gotten gains?

See these Ponzi/Scams: Charles Ponzi-1920, New Era-1980s, Better Life Club-1998, CEP trust -2007, Wealthpools-2008

In all these cases, the Courts/Receiver, asked/ordered ” investors” who had received more than the principal they had put, i.e. “profits” to return it. Those who failed to, in a some cases, have had their names and amounts owed to the scheme(receivership), published to the public and were sued.
Blessed Child Says:
April 16, 2008 at 1:57 pm JohnDoe
1. At the Jamaican Registrar of Companies
2. I have no idea
3. See #2
4. See #3They say if we do not respond and say we do not want it to be taken that it will automatically be taken.
Lewfam has been good to me. Do I really want to argue about the 1%? NO
JohnDoe Says:
April 16, 2008 at 2:04 pm Driva!!! you can edit my previous post and remove the duplication and delete this one..
cookie Says:
April 16, 2008 at 2:10 pm Pon lewfamMi nuh have a problem. Anything fi fight the babylon dem.Bloggers mi did a read an article inna a black enterpenure jus recently.Guest who didda chat LC.Im sey dat the investment business inna canada did stop mek him money, so him sell most of it to some ins co there. Im new company portland sintin was now set up inna did the cariibbean and inna focus pon dat now. Him went on to sey that the carribean have alot of aging baby boomers plus new and emerging margins etc.
Bascically him didda plan pon the cariibean and ja. But the investments schemes dem now a bus him sut. dats why himma fight so hard fi get dem outa im cookie jar. Bouy dem demma cut out most of im market share.

yu neva si smoke without fire.
cookie Says:
April 16, 2008 at 2:17 pm wi need fi bouycott NCB
Livin n Babylon Says:
April 16, 2008 at 2:21 pm Hey guys just a quick note regarding my fund. I’m still a few weeks out. My large underwriter will have his funds by the end of this month and I already have a letter of intent for a large amount. Our issue is determining disclosure without facilitating circumvention, which is what people always try to do. Going through this experience and another theft here in Babylon has made me very wary as you only know too well. So, here’s what we know so far, each month’s report will detail:
1) All traders’ gross gains reported
2) Company’s performance fee subtracted
3) All gains reported with a combined gain expressed according to the weighted average among each trader
Then each quarter the Luxembourg required audit will be forwarded to each shareholder.
Again this will only work for 125,000 Euro minimum participation and the BVI feeder fund will take about a month longer with a minimum of 50k USD.
Let’s hope that come end of May we can see some funds.
JohnDoe Says:
April 16, 2008 at 2:25 pm If it was not NCB, it would be BNS, RBTT,FCIB or FGB. NCB was just the bank caught with Cash Plus Cookies
Mr Info Says:
April 16, 2008 at 2:30 pm I feel that Lew Fam is taking extrordinary measures.Dear Club Member/Partner;Re: Update on Activities and Operational Issues

We thank you for your continued support in what has become an increasingly public and in some instances even hostile (from some quarters) operating environment. As you are aware, there has been an anti-forex agenda that has been and is still being waged by vested interests. Nevertheless, we have committed for the long haul and will with your support take such steps as are available to ensure that your confidence and desire for best returns on your monies is maintained.

We have now considered it necessary to forge working alliances with similar forex arrangements and have since December 2007 made significant strides to this end. These efforts have included the incorporation of a representative body – Caribbean Currency Traders Association (CCTA) – at the Jamaican Registrar of Companies. Steps are also being made to register the CCTA in other jurisdictions. The objectives of the CCTA are to:

Promote professionalism, adoption of fair practices and just and equitable principles of trade, and the establishment of the CCTA Members’ reputation as honest, responsible, and credible businesses;

Promote innovation and a competitive economic environment as well as provide general support, where feasible, for economic development throughout the Caribbean and in such other jurisdictions as CCTA Members may operate from time to time;

Inform and educate CCTA Members, the public at large and, in particular, the investors on all aspects relating to foreign exchange trading and associated activities; in particular, to promote the education of CCTA Members in best practices of risk management and business practices;

Undertake the self-regulation of CCTA Members to ensure that the objectives of the CCTA are met and using the expertise and resources of the CCTA Members to protect the public interest, and, in particular, the interests of the investors and the reputation of the industry

Develop and maintain co-operative relationships with regulatory bodies and self-regulatory organizations dealing with currency trading throughout the Caribbean and the world;

Adopt, implement, and enforce rules, systems and processes regarding fair practices that will be designed to prevent manipulative acts and practices, enhance transparency and accountability, and, generally, protect the public interest;

Adopt and implement standards regarding qualification for CCTA Membership, which may include standards regarding education, training and mentoring;

Establish appropriate procedures to settle disputes among CCTA Members or between CCTA Members and the investors

Establish appropriate procedures to monitor and enforce adherence to the rules and practices of the CCTA by CCTA Members.

While these objectives have been well considered they are not set in stone and could change over time as operating conditions and other environmental factors require. However, even with necessary change we have mandated that the CCTA must at all times protect the best interests of the public as well as individual club members’ interests. It must also promote honourable conduct among CCTA Members and carry out its functions in a transparent and efficient manner.

Given the current operating environment, including a well organised anti-forex lobby, we have had to devise and implement ongoing and pro-active strategies and appropriately weighted responses as challenges arise. The CCTA has engaged the services of a team of international consultants with members from Canada, The United Kingdom and Australia which has prepared a policy position paper and a code of conduct document that have formed the basis of discussions with the government. As agreed in our last meeting on March 13th 2008 general ongoing public education and public relations support is critical and this will be coordinated through the CCTA.

We have at all times sought to avoid the application of bank-type charges and have to date absorbed related expenses. While this is our preferred approach, from time to time individual club members have offered to assist and some have considered it their obligation so to do. In principle we do not intend to burden individual members with bank-type charges; however, given the extensive and ongoing strategic campaign that is now required of us some of our individual members have proposed and we accept that continued full absorption of related expenses is not in the best interest of the club or members more generally. In the circumstances we now seek your consent and we will with it retain one percent (1%) of one (1) month’s gains which will be contributed to support the operational budget of The CCTA. We firmly believe that this will substantially defray anticipated operating expenses of the CCTA in a more organised and collective manner.

For this year – 2008 – we propose to retain the said 1% from your April 2008 earnings and we anticipate that you will, in light of the explanation given above, find favour with this approach. Please contact us by return e-mail or telephone if you do not intend to partner with us in this necessary campaign for stability and improvement in the environment in which we operate. Should we not hear from you, in the negative, within seven (7) days of this note we will proceed on the basis that you have in fact agreed to the proposed retention. We also trust that you will nevertheless communicate your support through e-mails and by phone and join with us in what has become a necessary legal, regulatory and public relations campaign by the CCTA against a well organised anti-forex lobby.

Thank you for your kind understanding and support. And may God continue to bless you richly.

Yours Sincerely,

LewFam Club
Blessed Child Says:
April 16, 2008 at 2:36 pm @ Mr.InfoAre you going to deny them the 1%?
Mr Info Says:
April 16, 2008 at 2:40 pm Absolutely not! They are trying to build something that will alliviate so many problems that teh FX clubs are experiencing !Remember, this will effect DS as well due to thier partnership.Maybe thier not a scam or ponzi after all.
Blessed Child Says:
April 16, 2008 at 2:44 pm I agree. I’ll gladly pay that and never give it another thought.
pete Says:
April 16, 2008 at 2:48 pm Patrica I smell a Big Rat this is the biggest co-ordinated set-up by the FSC,Local Banks,government,local press and the second last act was the fastest proactive police investigation and arrest I have every seen in Jamaica.1)The spread fear, doubt and uncertainty about cash plus and it’s owner2)Block monies coming into the accounts from overseas

3)use money launder and lack of being register as an excuse to close CP accounts and block pay-out local members at the time they depended on it the most Christmas

4)Create one voice with the local media by controlling the info flow

5)Ch got smart and hired price&Waterhouse and securing loans from Cayman which would have made all parties above look foolish.

6)Price Waterhouse stated the local companies owned by CP could not payback the member no surprise.

7)Next day police and investigation start on what bases and Money express is still free ?

8)News come out stating CH has asset of 7 billion US and only owe local member 40 U.S million and this is a ponzi?

Conclusion

This black boy got out of line and if he paid back the money the old boy or master system mash-up and all Ch would do is go off-shore. I can’t see how the State can prove this case of fraud in court but in the court of public opinion with one voice from all media house CH is convicted. I now see all the investor on this blog making remarks and buying into the fear, doubt and uncertainty on all investment club allowing them to get at the clubs that are now off-shore indirectly.

I don’t have money in Ch but I have money in other clubs and I believe CH is more transparent than the once i am in due to the fact that he was not hiding his assets in local purchases and companies he invested in I am sure we we did the same investigation into NCB we will find most of their asset are offshore not local.
JohnDoe Says:
April 16, 2008 at 2:50 pm Maybe not, but it could be a front to buy legitimacy.Who are the principals of CCTA and the affiliate companies? If it reads the list of companies that refuse to be regulated and are not open to transparency, disclosure and accountability, people will be able to make a judgement.Why not 2% of their earnings to show commitment to you?
Wan Spec Says:
April 16, 2008 at 2:51 pm DR – # 1189. I thought you were bigger than that. If you have proof, do something about it, otherwise spreading rumors like that is irresponsible.How come we never accuse Bill Gates or Warren Buffet of drug dealing but we so ready to believe the worst about one of our own?
OneJam Says:
April 16, 2008 at 2:55 pm Pete, where are the assets that CP have in Jamaica ? Where ? Dont call Drax Hall, Hilton etc. coz I understand those are not in CahPlus hands. I may be wrong but prove to me these assest of CP u mention in ur post.
Wan Spec Says:
April 16, 2008 at 2:55 pm John Doe # 1210 – That would only apply if you knew or should have known that you were involved in a pyramid or ponzi. Members of clubs which deal in forex would have a very good defense.
JohnDoe Says:
April 16, 2008 at 3:06 pm @ 1225
Sorry Wan Spec re: 1210. That’s what many people might think. It does not matter what it was called. Once it is determined that the “FX trading” was a Ponzi/Pyramid, the same applies…..@Pete
Take and deep breath, then go read or re-read http://www.jamaicaobserver.com/news/html/20071204t220000-0500_130057_obs_the_trials_and_convictions_of_carlos_hill.asp
Patricia Says:
April 16, 2008 at 3:10 pm Gentle folks anyone wish to bid???http://healthandfitness.sympatico.msn.ca/Health+Canada+looking+for+firm+to+grow+its+medical+marijuana/News/ContentPosting.aspx?isfa=1&newsitemid=17596016&feedname=CP-HEALTH&show=False&number=0&showbyline=True&subtitle=&detect=&abc=abc&date=True
Oneil Says:
April 16, 2008 at 3:20 pm TO all my fellow bloggers with Capital Blu, email me at oneil1901@yahoo.com. tell how things going
Oneil Says:
April 16, 2008 at 3:24 pm HW- GF
CP- GF
WHO NEXT??
Sharonette Says:
April 16, 2008 at 3:47 pm Since i dont know much about the ‘plant’, Can I bid for the ‘Marry Juana’ project and then invite some Jamaican farm workers to conduct the day to day operations?
pete Says:
April 16, 2008 at 3:59 pm OneJam Says:
April 16, 2008 at 2:55 pmPete, where are the assets that CP have in Jamaica ? Where ? Dont call Drax Hall, Hilton etc. coz I understand those are not in CahPlus hands. I may be wrong but prove to me these assest of CP u mention in ur post.OneJam I cannot help you if you can’t understand entering to an agreement to purchase between two entities with payment terms which is legal and common means in purchasing land or companies in Jamaica I don’t know if they have missed a payment or not mybe you can inform me.

Asset of cash plus was stated in the local media by the local police so if they’re miss informing us with out doing proper due diligence on the information they release as fact’s
JohnDoe Says:
April 16, 2008 at 4:13 pm @Pete
Of the very few things, ACP Les Green was positive/definite about this was it. He said that as a fact Cash Plus does not own Drax Hall or Hilton.Have you read the Observer Article yet?
Opportunity Says:
April 16, 2008 at 5:08 pm The C+ saga is bigger than the local authorities, the police and the courts. No locals are equipped to handle something like this. They will have to get outside help. Not to mention the economic fallout that this will have on the local economy as we have already started to see.
OneJam Says:
April 16, 2008 at 5:16 pm JohnDoe, Thank You. Pete they do not own anything of substance, MAYBE an office block here and there.
Ronnie Says:
April 16, 2008 at 7:43 pm All the clubs need to do is commit to providing investors with quarterly and regular externally audited statements by a reputable accounting firm. This will solve most of the transparency issues, instill confidence by investors and attract loads of new investors desirous of such phenomenal returns.It sure sounds simple. Organizations and all that stuff is not needed to solve the confidence issue.
Pip Unit Says:
April 16, 2008 at 8:18 pm The 1% that Lewfam is asking for to just April right?” In the circumstances we now seek your consent and we will with it retain one percent (1%) of one (1) month’s gains which will be contributed to support the operational budget of The CCTA.”Also spoke with a rep at lewfam and they are getting ready to roll out some sort of debit card system that is going to take the place of encashement request. I spoke with a few other members who are friends and they have been notified via email that they would be receiving this debit cards in the next two weeks. From what i hear they are not sending them to all members out at once but out in batches at a time. I REALLY think this will help a lot to speed up request. I believe these cards from the Bank of Belize. Has anyone heard anymore on this?
cookie Says:
April 16, 2008 at 8:45 pm Pip unit,The debit card seems intereting. But I live in US. Is this only for the Jamaica customers who are having difficulty getting the cards or everyone.
Monica Brown Says:
April 16, 2008 at 8:52 pm a friend of mine related to O was promised some funds tomorrow. am willing to bet he is in for a disappointment !!!! anybody willing to bet against me? lol
PEI Says:
April 16, 2008 at 8:58 pm #1238 nobody going bet on that and me feel it for him like everybody else. nothing in that to make joke about.I like what Lewfam doing. sounds like they trying to progress. They have different traders too. You dont hear no problems as such with the others that dont use DS to trade. Things quiet on those front.
Monica Brown Says:
April 16, 2008 at 8:58 pm oniel yu nuh memba swiss cash?
unreal_investor Says:
April 16, 2008 at 9:14 pm Just like how lewfam weeding out the bad eggs in their clubs, mine O doing the same… gwan mek a big stink over every likkle ting so they can memba yuh… Anyone hear that some worldwise member called cvm to create mischief so she could get her money back? Well she eventually got her money and all her accounts were closed, mi just hear that she bring lawyer back down to the office, demanding they open back one of her accounts… Them seh only if she go pon cvm and apologize and tell everyone seh she gone in back. Anyone can confirm?
Pip Unit Says:
April 16, 2008 at 9:21 pm Cookie.. I am a US resident as well and all of my 2 friends that are getting them are USA as well. So looks like this is going to be the way they are going here soon. Would be nice to roll up to an ATM and pull out my enchasement for the month instead of having to bug the hell of Lewfam lol.
Pip Unit Says:
April 16, 2008 at 9:26 pm PEI… i was aware that “DS” was one of the main traders for Lewfam but you metioned that they have other traders? If that’s true then that puts me at ease even more. Diversification is a good thing.
DH Says:
April 16, 2008 at 9:38 pm Pip unit
you will still have to make the request for funds and lewfam would put the amount on the card, so yo u will still have bother them
Roli Says:
April 16, 2008 at 9:49 pm 1241: Heard O is gonna do the same soon, plus some new encashment procedures than the ones we have already seen.
unreal_investor Says:
April 16, 2008 at 10:02 pm 1245: I hope so.
Pip Unit Says:
April 16, 2008 at 10:07 pm They still need to give us the specifics of the debit card procedures. But I would think it should speed up things.
Livin n Babylon Says:
April 16, 2008 at 10:11 pm I am interested in learning more about this CCTA entity and I don’t see this as an attempt at legitimacy, but I do see a shot at a serious need being met. The securities versus non-securities arguments are driving me insane. Here in Babylon with US Code Title 71 stating that the CFTC is the EXCLUSIVE JURISDICTION for currency trading – different district courts are ruling all over the place. So in other words until the Babylon Supreme Court hears a case and renders a verdict it’s all up in the air. THIS IS A PROBLEM, because far too many governments, which have perfectly good laws “as is” watch the US for the lead.In comes Panama. The Republic of Panama used to be a friendly jurisdiction to forex trading, but now, in the wake of fraud and abuses, rather than simply adopting a stance or enacting a legal manner for handling forex they decided to just place the entire matter under their securities law. Listen up Ja-people, your government is moving the same way and guess what? You will not be allowed to participate in forex trading any longer, unless you can prove that you are a wealthy-sophisticated “accredited investor”.The only saving grace in all of this is the “managed forex” program, however this will require the broker-dealers to meet stringent requirements. Earlier someone was discussing/asking that David would have to be a CTA at a FCM. This is currently not the case, however laws are being proposed by Congress here among the CFTC with the NFA’s seal of approval that will enact sweeping changes.
—————————
One more thought on banking related discussions. We have got to get pass this issue of (if it is true) Olint moving $400M and people saying that’s nothing. This talk of, “Well I have banking experience and that shouldn’t be an issue – blah, ba-blah.” Yes it is an issue, because the operational line of credit is already established based on the bank’s perceived understanding of the relationship they entered into.

Thank you Mr Tex, Pip Unit, and Mr Info for the LewFam submission
I now have more hope than I’ve had in quite some time. We’re going to get through this!
Livin n Babylon Says:
April 16, 2008 at 10:20 pm Would someone comment on “Opportunity” from April 14 – I am totally ignorant on banking matters with NCB and it seems like an interesting post. I’m surprised that no one has chimed in on this one.
Stress now Blessed Says:
April 16, 2008 at 10:21 pm I requested funds to be transferred from one O accoun to an OTCI account and it was done rather expeditiously.Request made Friday the 11th tramsfer was pending – trading took effect on the 14th and balance updated in account as today.Impressive!
Patricia Says:
April 16, 2008 at 10:33 pm LnB how you dis me so.? ..I asked u about ETFs and REITS earlier Anyway guess u busy.
cookie Says:
April 16, 2008 at 10:45 pm I do not think the debit card will speed up the process.
Why?
Money has to be available to be loaded onto the card just as a wire transfer has to have money available to wire.
Opportunity Says:
April 16, 2008 at 10:51 pm Saw this in Forex News abovehttp://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSN1632317720080416
jahbilly Says:
April 16, 2008 at 10:52 pm 1251 Patricia
I read your previous post and wondered if you looked at the Canadian Energy trusts
ie, pgh,pvx,erf. all pay a monthly dividend and have good records of divy and price appreciation.
overchill Says:
April 16, 2008 at 10:54 pm Can you withdraw monies from Olint TCI? Anyone?
cookie Says:
April 16, 2008 at 11:13 pm overchill olint not paying out until may, june.so sit tight
Patricia Says:
April 16, 2008 at 11:17 pm Jahbilly, thanks for that info…so is it a good idea to enroll in DRIP if u r a unitholder, always thinking about the tax consequences, esp since there are monthly distributions
overchill Says:
April 16, 2008 at 11:18 pm I just wondering why people flocking to otci
cookie Says:
April 16, 2008 at 11:27 pm otci does not falll under the jurisdicoton of babylon
DW Says:
April 17, 2008 at 12:14 am Has anyone else been successful with transfers from O account to OTCI…SnB,I must say rather IMPRESSIVE!!.I have been waiting for over three weeks now.
Stress now Blessed Says:
April 17, 2008 at 12:22 am DH
did you get proof of the request for transfer?
unreal_investor Says:
April 17, 2008 at 6:07 am Investor awarded US$200,000 in suit against Ricardo Azanhttp://www.jamaicaobserver.com/news/html/20080416T230000-0500_134625_OBS_INVESTOR_AWARDED_US_________IN_SUIT_AGAINST_RICARDO_AZAN.asp
unreal_investor Says:
April 17, 2008 at 6:11 am Open enquiry into alternative investment schemes, Bunting challenges Gov’thttp://www.jamaicaobserver.com/news/html/20080417T020000-0500_134647_OBS_OPEN_ENQUIRY_INTO_ALTERNATIVE_INVESTMENT_SCHEMES__BUNTING_CHALLENGES_GOV_T.aspI miss the days when the clubs were under the radar…
InForTheLongHaul Says:
April 17, 2008 at 6:24 am BBC World Service radio is just reporting on the Cash Plus saga!
Rich Kid Says:
April 17, 2008 at 6:36 am Guys – I have been thinking….when you look at things – somebody has been ultimately responsible for what is happening to these investment clubs…..I don’t have to remind you of Leachings role and I trust that most have you have severed most, if not all, ties with his group of companies – y’all know them.Now it’s time for us to go after the “super” chain of hotels because is I$$A a cause nuff problems with Olint – hear it from good source is that he was trying to coerce DS to pay a flat 5% to him investors and him and fi him “super” family coulda get any interest weh dem want pan fi him account(B or C or both) and DS said no him can’t do dat – so wah di bredda do??? withdraw $600mUS – thus everybody’s demise.DS will survive – be patient. RIU and Sandals are very nice….and they too have family resorts.
jahbilly Says:
April 17, 2008 at 6:46 am 1257 Patricia
Not sure if they do drip’s in Canada. I do it manually in scottrade. I hear etrade/ameritrade does the re-investment for you. Even with taxes you still make out more than most investment these days.
DR Says:
April 17, 2008 at 6:57 am re: Investment schemes: Somebody wants the truth to come outhttp://www.jamaicaobserver.com/news/html/20080417T020000-0500_134647_OBS_OPEN_ENQUIRY_INTO_ALTERNATIVE_INVESTMENT_SCHEMES__BUNTING_CHALLENGES_GOV_T.asp
JohnDoe Says:
April 17, 2008 at 7:10 am don’t be fool with the water flowing….. It will flow for some but the drought is coming
unreal_investor Says:
April 17, 2008 at 8:02 am Rich Kid if what you said is true then this delay is in O members’ best interest. Let DS do what he does best…
Wan Spec Says:
April 17, 2008 at 8:10 am There is an ad from WorldWise on page 12 of Thursday Life in The Jamaica Observer. You either need to get the paper or e-paper versions to see it.I guess they are trying to reassure their investors after the Cash Plus fall-out.If you want a copy email me at wan_spec@yahoo.com and I will send you a copy
DH Says:
April 17, 2008 at 8:15 am SnB
Proof of request for transfer
the person that made the request forwarded a copy of the mail sent to ‘O’
RedP Says:
April 17, 2008 at 9:44 am Morning people, You know what woulda sweet mi?? If there was a run on NCB and see how dem like it!!
RedP
Geotrdr Says:
April 17, 2008 at 9:44 am @1265.Slow down there Kid. That entire family is not invovled. Its just one individual. Why punish an entire group of people for some thing they had nothing to do with? Why attack a business that is not run by said individual? Further more that individual has branched out and has his own businesses. May be you should ask your friend for some more info so you can boycott the correct businesses. Even more careless is the $600 million dollar figure. Sheesh I though the $300 million dollar figure was a joke. The actual figure people is so much lower than both. So much lower.In business a Man can ask for what ever he wants and a Man can reject any offer presented to him. Thats business. Were the two in business together? Yes. Was something presented and rejected? Yes. Did the two part ways? Yes. Did the somebody have an evil plan to keep the little man down? No.

Person in question is n EXTREMELY shrewd business man. He is NOT going to remove his resources from something that is making him some good returns. Unless he has found something else that gives him better returns. Maybe you should research that.
JohnDoe Says:
April 17, 2008 at 9:49 am Look at how people have to be behaving… “You have proof”, “Yeah me see a forwarded e-mail”,”Send me a copy to my e-mail me want to see it”Unno even sure that e-mail authentic or fraudulent, a PR stunt… unno sure that people not posing on the board as ‘O’ agents…Now more rubbish; that is I$$A fault. LOLOLOLOL. Let me see, unno gone to boycott the shell, stop cooling down or filling up at all the oasis, no more relaxing at the super, no more coupl-ing in addition to no more stocking up at S+, banking with Leeching and lock down the Flow….and insuring at advantage.

oh for transparency, disclosure and accountability….
Geotrdr Says:
April 17, 2008 at 9:49 am RedP. I’m not a fan of NCB. I will not be giving them any of my money. But honestly a run on NCB would not sweet you or anybody else. Just remember what happened the last time there was a run on one bank in Jamaica.
UpNawt Says:
April 17, 2008 at 9:53 am I’m new to this site, and I am really fascinated/horrified/worried by what I have been reading the past couple of days. Does anyone know what is happening with MD?
Dreamer Says:
April 17, 2008 at 9:59 am Somebody suggested I post something here that I posted nm another blog. It’s just for info as I think we all need to share our experiences. I must say though that experiences may vary from person to person so bear that in mind.“Well it appears that WW doesn’t have a cash flow problem. I requested a disbursement of a reasonable sum and it was lodged to my account within the waiting/processing period of 7 days.Some investors are getting jittery yes but it appears that if you want your money you can get it. At least for now. That’s what increased investor confidence in Olint, their ability to pay investors their money when they had the 1st run. So it can only augur well for WW when the jitters pass and hopefully they get licensed.

Just thought I’d share cause not many people seem to be doing that these days .”

Good Luck.
Geotrdr Says:
April 17, 2008 at 10:10 am Glad we counld entertain you Upnawt.What blog is that Dreamer?
Geotrdr Says:
April 17, 2008 at 10:10 am Glad we could entertain you Upnawt.What blog is that Dreamer?
JohnDoe Says:
April 17, 2008 at 10:20 am That Olint Run that NO independent person can verify…. How much money was under management before the run and how much was left after the run?C+ was still giving the NPL league money even after it stopped paying its “investors”Time will tell..
Opportunity Says:
April 17, 2008 at 10:44 am Ahh JohnDoe yes only time will tell. But for now we all including you should ease up on the level of speculation. If we have facts share them otherwise……………
RedP Says:
April 17, 2008 at 10:45 am Let me play devil’s advocate here. Is it possible/probable for a person to be so uncontionable so as to rip off 40,000 ppl, the majority whom are not wealthy, while having billions in US dollars stashed away?? Leave himself open to investigation and not try and flee?? I hold no brief for Carlos H but I’m beginning to wander.
Is it possible/probable that certain things have happened behind the scenes because certain ppl/entities have set agendas and certain peoples downfall would be to their benefit??
Maybe I’m just naiive and gullible but I’m really beginning to question things.
What say you all??GeoTrdr: I was just being facetious, I know a run on NCB would be terrible but it would be refreshing to see certain ppl get some comuppance.RedP
Kaye Says:
April 17, 2008 at 10:58 am SnBcan you email me at gayan1176@hotmail.com.I want to ask you a question about transferring from “O” to “TCI- O”
Futures_trader Says:
April 17, 2008 at 11:11 am #1282 RedP
The only thing that is truthfull about Carlos Hill is that he is a Con man.Why would I want to feel the wrath of a possible 40000 people and face jail time and possible death If I had that kinda money sitting in a bank?CH is a con man and he ran a ponzi, now the sooner people would accept that, the better it is for them. No one set him up for failure, it is what it is.

If it walks like a duck, look like a duck, and swim like a duck it has to be a duck. C++ is dead lets see what is “O” fate.
DR Says:
April 17, 2008 at 11:15 am Maybe “The Hill” was getting ready to run off? We don’t know what telephone conversations were going on the weeks leading up to the early attack on “The Brook or Nor”***************************************
The Hill has a MOUNTAIN of money.
***************************************1274 John Doe:-

Your commentary was very creative….poetic!
cookie Says:
April 17, 2008 at 11:31 am If he had that kinda money why would be need the few change from jcan people. Maybe the money is fictious or not his at all.But red P I am wondering if yu theory is tru. Wonda if it all a conspiracy to get CH…you have to wonda
Mercury Vapor Says:
April 17, 2008 at 11:32 am Re: Post 1282RedP, man, CH is a crook! He was a crook in the U.S. who ran a ponzi scheme…he got arrested, and after serving his time he came here. When he saw the popularity of DS’s “O” he saw an opportunity to start another ponzi scheme and make a bag of money. He created one that was different from the one he ran in the U.S. but it was still a scam.The man is a con artist, I mean seriously, just think about the C+ model…they were not trading in forex, they said…as far as I can remember…that they were using investors money to buy businesses. Now you tell me, any reasonable person here would know that that’s complete rubbish. Can you invest in businesses and consistently make 10% a month…please! I tell you…the garbage that the Jamaican people will believe…and why? Because everyone wants to make a lot of money, so they just tell themselves: “Yeah man, C+ a di real deal! Yu no si say CH a good yute!”

Well, he turned out not to be a “good yute”! He is a crook! It’s just that simple!
RedP Says:
April 17, 2008 at 11:34 am #1284 Futuers trdrI’m not sayng no, but somebody who ammasses a fortune such as that is not a stupid person. If you were in his position would you have stuck around so long, or got going when the gettings good and before the cookie crumbled?? If it were me I would have gotten the hell outta dodge a long time ago, cock up mi foot in Fiji and drink a margeurita.
It just seems to me that something else seems to be at play here maybe it’s just the conspiracy theorist in me but something doesn’t seem kosher to me.
cookie Says:
April 17, 2008 at 11:37 am kevin yu delete mi blog
RedP Says:
April 17, 2008 at 11:46 am #1287 Merc. Vape.I for one was always suspect of the C+/- business model. Being in business I know that it is nearly impossible to purchase a company and turn 10% consecutively right off the bat unless your into Columbian exports, much less 80 odd companies so thus I stayed very far from them.
But still, supm smell fishy to me.
Mercury Vapor Says:
April 17, 2008 at 11:47 am Taken from the article “Cash Plus drama…Carlos Hill and co-accused charged with fraud” in the Jamaica Observer:“According to Green, documents seized from Carlos Hill’s home revealed that a loan of US$1 billion was secured last January on “at least US$2.5 billion” held in five accounts in Germany. In addition, Green said, the police will have to confirm whether bank guarantees, loans or letters of credit exist for the US$450 million held in Ghana/London and over US$4 billion at other overseas financial institutions, all under the name of Galina Trust Limited, an outfit believed to be registered in the Turks and Caicos Islands.”You guys need to stop talking about 7 billion dollars…is not seven billion dollars the man have! From the article, $1 billion is a loan (received in January), while most of the rest money is loans and letters of credit.

So is not CH’s money dat! Basically, he took money from investors in Jamaica, created a lot of fictious businesses all over the world (also called Shell Companies), then created fictious financials on those businesses and used them to borrow money from various lending institutions to obtain loans…billions of dollars worth of loans. I think we will see as the investigation goes on, most of that $7 billion will have to be returned to the banks and other lenders. The amount that will be available to investors may be in the range of $1 to $2 billion.
Mercury Vapor Says:
April 17, 2008 at 11:50 am I agree with you though RedP, something doesn’t seem right about the whole C+ affair.Like, why did the FSC wait so long before issuing a “cease and desist” order on C+?
OneJam Says:
April 17, 2008 at 12:08 pm Question: How many yrs can CH and company get under the current charges ? Can anyone answer this ? Can it be increased if more people complain, lodge a report ? Any feedback.
RedP Says:
April 17, 2008 at 12:24 pm I’ll put money on it that this case gets thrown out. Think about it, given all the media attention and police press releases it will be next to impossible for CH to get a fair trial.
Every potential juror would have already formed an opinion before the trial because of the press coverage, take a look at this blog for instance and tell me which one of us could honestly say that we could be impartial should we be called to jury duty. Not only that, but the potential juror would have to be of above average intelligence to be able to understand the inner workings of this case. I think that the prosecution really has their work cut out for them.
With a heavy hitter like Churchhill Neita CH has a better than average chance of cocking up his feet in Fiji.
I just hope the investors get their principal back, couple of my inlaws went in there deep just before the crash against my advice, I’d just hate to see them lose it
overchill Says:
April 17, 2008 at 12:30 pm I dont think he intentionally tried to scam the people. The purchased businesses on their own couldnt give 10% in my eye also, but after hearing about the whole layaway vacation plan, I thought it might just work after a time. Overseas banks are not going to loan anyone that amount of money without knowing where its going to. They might be stupid enough here to give out unsecured loans, but not for that amount. Just my thoughts anyway
Mercury Vapor Says:
April 17, 2008 at 12:33 pm You’re right RedP. I hope that I don’t get called for jury duty…cause if I am…Yow! CH would a neva see daylight again! Guilty! Guilty! Guilty on all counts!!! Give em di maximum judge! Mi would a holla.No sah! You can’t come a Jamdown an play wid people money like dat! Yu nuh see sa a mad dat de bwoy mad!
RedP Says:
April 17, 2008 at 12:47 pm It wil be intersting to see if the banks are gonna be forced to take the stand. We’re living in interesting times.Re Worldwise Advert. At least they’re endeavouring to calm peoples fears,
Super Dave, where are you?!Re#1273 GeoTrdr. What was the amount that Ji$$a pulled?
Mercury Vapor Says:
April 17, 2008 at 12:58 pm It’s funny that people are saying that I$$A pulled all his money out, because this article suggets otherwise:http://www.jamaicaobserver.com/columns/html/20080409t230000-0500_134394_obs_charlatans_trying_to_bad_mouth_olint.aspHmmm…who to believe? Should we believe Mark Wignall or the posters on this blog?
Pip Unit Says:
April 17, 2008 at 1:03 pm Has anyone received the Debit Cards from lewfam yet? How exactly do they work? When speaking with them on the phone they left the impression that i would use this instead of doing the normal encashement. They never said i would have to submit an encashment like normal and it would be transferred to a debit card instead of wired to my bank. It was almost like i could use this card like a credit card and take money out at an ATM. With that scenario i would assume the bank of the debit card would have to submit a request to be paid back as i use the card. Not exactly sure but that’s how it came off. If any one has a concrete answer let me know.
unreal_investor Says:
April 17, 2008 at 1:29 pm Well the direction Jamaica heading now, I glad O have their money offshore. We soon need an interim government to come sort us out. This year was predicted to be a turbulent year, so I guess prophecy is real. All I can say is pray you on the right side of the fence when judgment comes. On a personal note, all the people calling for transparency and balance sheets with reguards to O, if that’s what keeping you out, then I hope they never produce any … We don’t want your money, keep it…
JK Says:
April 17, 2008 at 1:39 pm someone email me the WW ad please racer2g@hotmai.com
Geotrdr Says:
April 17, 2008 at 1:40 pm Really doesn’t matter RedP.
Mercury Vapor Says:
April 17, 2008 at 1:41 pm Hahaha…you’re funny Unreal_Investor. So you’re perfectly fine that “O” doesn’t provide any audited financial statements, trading reports, any details of their fee structure, or the salary (and other benefits) given to DS?Wow, I guess you must like the long…LONG…delays in payments too, and the little communication coming from “O”. Well, in that case Unreal_Investor, I think you are a wonderful client.I’m starting a brand new investment club that I think you should come and join. I’ll pay you 500% every month and your principal and interest is all guaranted by me…see you can’t lose any money!

Invest with me, and I’ll make you rich in just a few months. Only don’t ask me what I’m investing in, or where you’re money is going, or how I’m spending it, or who I’m paying…or when I’ll be paying…or if I think I’ll be paying…or what I’ll be paying you with! So, what say you? Are you interested?
RedP Says:
April 17, 2008 at 1:48 pm #1300 Unreal invetor
We don’t need an interim gov’t. Super Dave needs to get sanctioned by FSC then the banks cant say sh-t about anything and everything will be ‘cauppaseck’. Theorettically speaking of course.
Again, Super Dave, where are you?!
RedP Says:
April 17, 2008 at 1:54 pm #1303500%/month ???!!! Merc. Vape., I’m all in !!! LOL LOL
unreal_investor Says:
April 17, 2008 at 1:56 pm What’s next, proof that God exists, soon you going come with church is a scam, take from the poor to buy pastor a prado and big house in cherry gardens… When money was flowing, I never hear nuh call fi financials, now everybody wah see it. See why dem seh black man nuh like help out black man…
Mercury Vapor Says:
April 17, 2008 at 1:59 pm Thanks RedP, glad to see you want to join. Yes, I have my first victim…er, I mean client…yes client.I hope you don’t want any transparency though…cause you know…that’s not my thing! I like things nice and shadey…the shadier the better I always say! LOL!!!
RedP Says:
April 17, 2008 at 2:01 pm Just a thought.
My sister in law is doing a 12 week course on banking and finance put on by IMP. She said it is very rough going and alot of cramming, however, when she passes she can be licensed by FSC to deal stocks/bonds/securities etc.
She can start her own club and not have to worry about authorities breathing down your back about wether trading in Fx is same as securities.
Perhaps Super Dave needs to take a break and do said course.
Just a thought anyway
Mercury Vapor Says:
April 17, 2008 at 2:03 pm I hear you Unreal_Investor, that’s a good point.
OneJam Says:
April 17, 2008 at 2:23 pm Bail refused for CH and brother …… Go back to JAIL.
DH Says:
April 17, 2008 at 2:29 pm Kind of agree with Unreal_investor, about transparency and balance sheets with regards to O,
DS never solicited money from people nor did advertised, people heard by the way and believed he had the ability to provide gains of 10% monthly. Now if he was me and me know I was true, mi wouldn’t comment any further on the situation, the only communication link I would provide is away for people to get back money and close accounts,
DS does not need us we need him.
Mark U!!!!!!!! if he provided transparency and balance sheets and everything looks good, mi would a sell mi house, mi car dem, mi madda house, mi grany lan a country, mi wife, mi picny dem, hoops mi cant sell dem and I would sleep comfortable at night.
RedP Says:
April 17, 2008 at 2:30 pm #1306 Unreal InvestorMy pastor drives a Prado (not a new one) and he lives in Norbrook. I do not consider him a thief. In fact he is a man that I greatly admire.
I think that I can speak for the majority of us on this blog by saying that we do not believe that Super Dave is a thief/conman.
What we are saying is that the least he can do is come out and say whappen dawg, this is the position reh reh etc. The truth and nothing but.
Listen mi, a yard we de and you know dat life nuh pretty. you have to work damn hard to get ahead in life, 70 times harder if you convert it to US.
So when you have your hard earned money tied up,you cant touch it, nobody not telling you anything, some paople are in real need and you expect them to not get frustrated?? Where do you live?? Lah Lah Land??
Come on buddy, wake up.
Oneil Says:
April 17, 2008 at 2:37 pm re 1311DHU really funny, but hell ,i agree . if had satements to prove he is for real i would do the same lol
UpNawt Says:
April 17, 2008 at 2:52 pm Mi nuh si no tawk bout MD. It ded?
unreal_investor Says:
April 17, 2008 at 2:54 pm DH lol… RedP, maybe I should become a pastor, seems like the perks are good. (lol) You seh that you don’t belive seh DS is a tief so wah you a fret fah? If him was a tief him could a gawn weh wid yuh money long time, him nuh short a cash and him know bout banking procedure. I see you a talk bout license with FSC, I guess JMMB pick him up off the streets and have him deh a si down fi 12 years nah duh nuttin. If yuh money gawn, it done gawn already, forex is liquid, no assets fi sell and mek back yuh money…
Mercury Vapor Says:
April 17, 2008 at 3:04 pm Re: Post 1311DH said: “DS does not need us we need him.”Ok, if DS is a great trader, he could just trade for himself and earn a decent income. But by taking on clients he can earn a lot more money. So I would say it is in his best interest to have clients.

Now, how much money DS makes is not known, because “O” doesn’t tell us. If fact they don’t tell us much of anything…how many people are employed by “O”, the salaries of DS, or WS, or anyone else for that. Also, they are making money on our accounts…DS is not working for free…but how much…well, no one knows?

Whether “O” was current or late in their payments makes no difference to me. I would like to see audited financial statements, trade reports, the fees that they charge, the real profit and loss that they make every month, etc. I know many of you would not like to see those things, and thats fine…but I would like to see them.

Think about this for example, this month “O” pays interest to your account. Now, lets assume that they have made a trading profit for this month. They have to subtract their fees since they have to pay:

1. The currency traders (like DS) salaries.
2. The salaries of other employees of “O” like administrative staff and customer service staff.
3. The rent/lease on their offices, plus the utilities (electricity, water, telephone, internet accesss, etc.)

Now “O” I suppose will subtract their operating costs from the profit and then give you the remaining…which would be the 10% (for example). But how much do they take? What is the real profit for the month? Well, I would like to know, I like transparency.

Peace
RedP Says:
April 17, 2008 at 3:08 pm #1315
Nutn nuh wrong, If I was a Pastor mi woulda want a crissas too!! Anyway, I do have faith in Super Dave, Im just saying that a little clarity would be nice.
Question though, Since he was with JMMb, does he have the credentials to get licensed and if so, why doesnt he?
Mercury Vapor Says:
April 17, 2008 at 3:12 pm One last thing…strange, “O” can pay money to sponser the Air Jamaica Jazz and Blues Festival, they can donate 1 million dollars to charity in Jamaica, they can payout average of 10% a month in interest (or gains)…but they can’t spend money to hire a reputable accounting firm to provide their members an audited financial report.I’ve said it before…”O” is not some little club with a dozen members were we know the forex trader personally. “O” has hundreds…maybe thousands of members…they are managing millions…maybe billions of dollars…plus they are connected to numerous feeder clubs!
jk Says:
April 17, 2008 at 3:17 pm supposed olint wants to keep their financials private? have any of u thought of that.
DH Says:
April 17, 2008 at 3:27 pm “Now “O” I suppose will subtract their operating costs from the profit and then give you the remaining…which would be the 10% (for example). But how much do they take? What is the real profit for the month? Well, I would like to know, I like transparency.”If a statement in need to prove he is not a scam well he does not have to give so much information, all you need fi know is tha that client fund is equal to or less than the trading account nothing more.
Because if him a trade and a make 300%per month on clients money and him a pay 10%per month to the clients then if the client think them should a get more, then them go get it somewhere else. How much him make no have nothing if do with U, U just want if know say you a make yours.Peace
RedP Says:
April 17, 2008 at 3:33 pm FR’s been very silent, where is he ?? Thought he’d be jumpin all over us by now.
OneJam Says:
April 17, 2008 at 3:36 pm In my humble opinion, O financials are private, since O is a private company. All that is really req’d is a monthly trading reports/audit trails on invested funds showing only % estimated or actual gains or losses.In my simple head this would be adequate to prove real trading is happening and it gives general info, nothing specific that gives up too much strategic info. Possible a report/audit trail for even every 2 months or every quarter.Understanding that is is not a requirement but to help. Actually if WS used this as a tool to indirectly win the minds of new customers worldwide. Remember if O does this right his market could be the world, Think about this WS, its an opportunity, but u have to get your customer service up to int’l standards.
OneLove
cash Says:
April 17, 2008 at 3:38 pm i see all the attention is now on olint and a lot of speculations going on. just wanna shift the attention to mdaisy has anyone been able to reach their customer service.like the other clubs i see where persons have been able to reach someone who is able to give a feedback.communication is key in doing operating a business of this magnitude to which neither of these clubs seems to realise
OneJam Says:
April 17, 2008 at 3:38 pm DH type faster than me, we saying the same thing. I was doing me spell check …..LOL.
Ronnie Says:
April 17, 2008 at 3:50 pm Investors hire the fund manager. DS makes money by charging a fee or percentage of the profits made on the investor’s money. The person doing the hiring is entitled to know how much he is paying the employee. This is customary and the fee structure and amount paid is usually disclosed.However if you were willing to invest with Olint knowing full well that there was no disclosure and you were willing to accept it because the money from those returns look nice… Why the hell you think DS should give you disclosure now just because you ketch a fraid and tink sinting nuh look right?You can either stick with him because you continue to have the same blind faith with no disclosures. Or if yuh ketch yuh fraid tek you money and gwaan bout yuh business. The only problem now is yuh gwaan ketch the dickance fe get it back right now. Nuff long wait fe dat.
Marsha Says:
April 17, 2008 at 4:01 pm Hi Blog Friends,What’s a Prado? What vehicle is it similar to? Just curious never heard of it. Thanks.
RedP Says:
April 17, 2008 at 4:07 pm I am not asking for audietd reports and fee structures etc. I just want somebody to come and tell me what the hell is going on. My batty is in a vice, i need some of my funds,not all. Have no desire to close account,just need to get out of a tight spot. so, when your in my position(and i think I’m not alone), it would be nice to know what the backside is happening!! What is so wrong with that.
DR Says:
April 17, 2008 at 4:41 pm Mercury said:One last thing…strange, “O” can pay money to sponser the Air Jamaica Jazz and Blues Festival, they can donate 1 million dollars to charity in Jamaica, they can payout average of 10% a month in interest (or gains)…but they can’t spend money to hire a reputable accounting firm to provide their members an audited financial report.**********************************************************
You mean niether “O” or “MD” can afford to pay a good customer service company to do answer phone calls and emails….
GetRich… Says:
April 17, 2008 at 4:44 pm Can someone explain to me why I just called one of the 3pm-10pm MD numbers and got a message bout number is temporarily out of service for non-payment of bill? The other number says mailbox full as usual. Customer Care sucks!!!
Lisa Says:
April 17, 2008 at 5:34 pm i find this site interesting my first time here but aside from all the witty banter i need to know the following.Is may daisy dead or on life supportIs Olint in problems or is just a bottleneck based on happenings(ie run).

is worldwise a good third option.

when will carlos Hill confirm that he has no money or at least say publicly “oonu nah get back nothing a baay”
Opportunity Says:
April 17, 2008 at 5:45 pm Ahh Marsha,You know how Jacans stay. The vehicles down there we neva hear bout dem yet. Anyway…the Prada is similar to what we know as the Lexus GX.
Fedup NOT Says:
April 17, 2008 at 5:53 pm Get Rich @ 1329, I know what you’re going through, i’ve been right where you are. Try those 492 numbers at 8:58AM, they start answering at 9am you will get through to Paul who is very helpful, however I think he may be alone, cause when I do get through to him there are always phones ringing endlessly in the background…all going unanswered until he is through with the call he’s on. Be persistent.
InForTheLongHaul Says:
April 17, 2008 at 6:23 pm Marsha #1326http://www.batfa.com/new_car_toyota_land_cruiser_prado.htm
Mercury Vapor Says:
April 17, 2008 at 6:31 pm Re: Post 1326Hi Marsha, here is a picture of the Toyota Prado:http://www.ramexrentacar.com/auto/toyota_prado.jpg
danews Says:
April 17, 2008 at 6:32 pm @ Red Pto quote you—-
I am not asking for audietd reports and fee structures etc. I just want somebody to come and tell me what the hell is going on. My batty is in a vice, i need some of my funds,not all. Have no desire to close account,just need to get out of a tight spot. so, when your in my position(and i think I’m not alone), it would be nice to know what the backside is happening!! What is so wrong with that.

—

DS has answered the question..

folks he has answered the question in a comprehensive way..

he has said that there will be a due diligence being done that will end by May.

why aree people going on like Olint has not provided an update ?

you may not believe it, that is a different story.. then you can stop calling him super Dave and call him super liar and beat down his door for your money..

would you want a liar managing your money….

its now a matter of trust.. do you trust David Smith in investing your money ?…. why then not trust his excuse ?.
JohnDoe Says:
April 17, 2008 at 6:32 pm London Bridge Is falling down,
Falling down, Falling down.
London Bridge Is falling down,
My fair lady.Time for the Office of Disaster Preparedness to started getting ready….
Mercury Vapor Says:
April 17, 2008 at 6:38 pm Haha…InForTheLongHaul! You beat me by a few minutes. Looks like you think kinda like the way I do!
unreal_investor Says:
April 17, 2008 at 6:44 pm I always see pon this site, posters saying how they value the ‘detractor’ input and why cant we all get along BS, I hope JohnDoe post 1336 is that valuable input yuh a talk bout…
DH Says:
April 17, 2008 at 6:47 pm JohnDoe,
Make sure you are not standing under it
Mercury Vapor Says:
April 17, 2008 at 6:53 pm InForTheLongHaul, check out the new Toyota Supra!http://www.caradvice.com.au/2926/toyota-supra-update/IT LOOK WICKED!!!
unreal_investor Says:
April 17, 2008 at 7:02 pm That supra maaaaaaad!!!
JohnDoe Says:
April 17, 2008 at 7:03 pm @1338 – My point is:Thing are really bad now… time to look on the contingency plans. If you investing money, especially in high risk, and you have no contingency plan in place, should something go wrong with the investment, that is rather stupid. What I am saying time to dust off the contingency plans, see what the recovery plan is…. Hope that explains….Just like how me just hear a woman seh she re-mortgage her house and get $300K and put in cash plus and all now don’t get one cent. I guess she never ask herself, “What if”?
Easy Street Says:
April 17, 2008 at 7:19 pm How is F1 doing? Are the consistent returns followed up with consistent encashments? Anyone having any problems to speak of ? Also, if they are doing well, let us know. This blog seems to be filled with constant negativity, it might do us all some good to hear some praise from those that are performing.
DH Says:
April 17, 2008 at 7:27 pm Easy street
U might hear that a scam too right JohnDoe,Fr,Cindy
InForTheLongHaul Says:
April 17, 2008 at 7:46 pm Mercury vapour #1340LOL. Great to look at but not my style. Planning on using some of my gains from ‘O’ to get a Toyota Landcruiser hybrid later this year – doing my bit for the environment.You think I should rethink my finances? lol.
InForTheLongHaul Says:
April 17, 2008 at 7:57 pm JohnDoe #1342You echo what quite a few of us have been saying.
Quite honestly, while I have sympathy for many who took a chance with C+ and lost I cannot understand the utter stupidity of anyone who would risk moer than likely their major asset, their home in any high risk venture.I should only be a small part of investment portfolio.I had to seriously dissuade a friend from putting money from sale of his house into ‘O’. He was going to roll it over, pay rent for a while, and hope to double his money.

While I have faith in DS and do not believe that he is running a ponzi scheme, no one should do such a risky thing like that. Gains are not guaranteed.

As for C+, I really think most financially astute people knew that the guaranteed returns were in no way viable in the long term. Business model spoke for itself.

Lesson to be learned, before investing, make sure you fully understand what you are investing in and how the profits/gains are being generated. Then you can make an informed decision and decide whether or not you are willing to accept risks associated.
Mercury Vapor Says:
April 17, 2008 at 8:05 pm Re: Post 1345InForTheLongHaul, I hope everything goes well when you try to get your gains from “O”. Maybe things will cool down by the middle of the year, and we’ll look back at this and wonder why we were all so paranoid…bwoy, I hope! Nice to see you’re thinking of the environment too…tell me something, do you live in the U.S.? Because they don’t sell hybrid vehicles in Jamaica, or do they? Does anyone know?
DW Says:
April 17, 2008 at 8:11 pm Mercury V, I am not for sure,but mi wouldnt be surprised cause every ting dey a yad.
Futures_trader Says:
April 17, 2008 at 8:48 pm mortgaging you house and then putting all that money into these risky schemes is crazy. Seem as though people were overleveraging themselves to the max.I hope and pray that these people have GOD because they going to need him.
JohnDoe Says:
April 17, 2008 at 8:50 pm @DH 1339 – Thank you for your advice.. “Make sure you are not standing under it”.How should I respond to your advice? 3 takes…London Bridge Detractor: Well you see, if the bridge falls down and you happen to under it, it could crush you. Also you need to be far away from the bridge, if it falls, as flying debris could kill you or at least hurt you. Based on the age of the bridge and lack of servicing, the signs are telling that it is going to collapse. We can’t get an independent audit of the true status of the bridge, the cracks are appearing, things not right and the banks are eroding. Other bridges over the years, showed those signs before they collapsed, so stay away from the bridge.

Some London Bridge Supporters: Well bridges can fall down anytime, so I am aware of the risk. I am gambling that this one will stand up. If it falls, I would not be surprised. I will wear a hard hat and protective gear if anything. I will hope for the best.

Most London Bridge Supporters: Nothing no wrong with the bridge. Is bad mind people bad mind. This bridge solid as a rock. Some people want to enjoy the bridge for themselves and no want nobody else use it. Never mind the lack of servicing and the poor service we getting from it. The cracks soon fix, do no watch that. We just having a problem with the banks. We a stay on the bridge , under the bridge and beside the bridge. We don’t need no hard hat. What is that?, that is for coward. Audit? We thinking about the Audi T? If your afraid a water stay out of the river. We in for the long haul.
cookie Says:
April 17, 2008 at 8:56 pm hi all. Anyone get any money from lewfam this month
Mercury Vapor Says:
April 17, 2008 at 9:00 pm Re: Post 1350HAHAHAA!!!! John Doe, that was really funny! That’s the smartest post I’ve read on this blog all week. Thank you so much for that, man, that’s why I read this blog!
InForTheLongHaul Says:
April 17, 2008 at 9:32 pm Mercury Vapour #1347Where I am that vehicle not available (hybrid) only Prius. I guess the diesel is just as good. I am keen on getting a hybrid though. Might go for something smaller. They are supposed to be efficient when you have lots of stop and start though no major benefits on highways.I live in the UK and the news tonight did not mention London Bridge falling down though one day it could so hard hat and protective hat ready jus in case. LOL
overchill Says:
April 17, 2008 at 9:49 pm Isn’t London bridge the one they sold off and shipped to the other side of the planet?http://en.wikipedia.org/wiki/London_Bridge_(Lake_Havasu_City)jondon, dont you have anything better to do with your time, I see your useless drivel on a lot of these blogs.
Marsha Says:
April 17, 2008 at 9:49 pm Thanks Opputunity, InForTheLongHaul & MercuryVapor!The Toyota Prado is a nice SUV. It also looks similar to a Toyota Sequoia.
Wan Spec Says:
April 17, 2008 at 9:52 pm Carlos Hill in jail until at least May 14th to rahtid!http://www.radiojamaica.com/content/view/7361/26/
Wan Spec Says:
April 17, 2008 at 10:04 pm More on the court hearinghttp://www.radiojamaica.com/content/view/7376/26/
InForTheLongHaul Says:
April 17, 2008 at 10:05 pm Overchill #1354.You are correct. They sold the original and built another larger and structurally superior one its place.Dont make John Doe worry you. The mans time is his own. If he feels that posting comments on blogs is the best use his precious hours, who are we to want to stop him?
Livin n Babylon Says:
April 17, 2008 at 10:29 pm Easy Street #1343 – F1 is doing quite well. They have (or had) a “gold” program that was essentially a gateway to Olint, but their “platinum” fund is managed by a friend who is essentially a protégé of David. They are doing so well that they needed to post a notice making it clear that they are not guaranteeing 15% per month, because just like O people started to say that they were promising 10%/month. F1 is solid.
RedP Says:
April 17, 2008 at 11:00 pm #1335
Danews. you are perfectly correct, a guess pressure jus reach me. Nuh watch nutn yu hear.
Peace.
RedP
Stress now Blessed Says:
April 17, 2008 at 11:23 pm WHAT IS HAPPENING HERE!Johndoe-
You don’t have nuh small clothes to wash? Use that very brige to find your way out of here. You are making me real uncomfortable in my own home now! ENOUGH is ENOUGH NOW!Keisha – I see you have asked me to email you, I will in a bit, just give me a few.

Inquiry about MD- I spoke to a rep today; however, it is difficult to get through, I am assuming volume versus c/s reps.
They are somewhere between Feb 1 and 15 now. The promise is to update accounts over this weekend AGAIN.

Mercury V – What has gotten over you and this “O” showing proof -Listen, I know you are an intelligent man, and I don’t need any proof of that. The same reason Lewfam has not provided any proof, is the same reason O don’t provide none – and I don’t here nobody asking for proof of Lewfam (because they are still paying)

None of us have ever seen a toothache, but when we have one we know – because we feel it. When you have a toothache it is usually because of a decay; however, the pain sometimes don’t last forever even when you don’t go to the dentist it sometimes just go away. Doesn’t mean you don’t have the decay, it just not hurting now.

We have never seen proof of DS trade or papers of profit, but we feel it by the weight of the monthly gains in our pocket. You are not feeling any weight in your pocket now, but it doesn’t necessarily mean that it is gone, it is just not weighing down your pockets now. “MAY” we all just wait!
ForexGuy Says:
April 17, 2008 at 11:51 pm I wish people would just give DS the benefit of the doubt and wait till the end of May! He has always come through for us in the past and I see no reason why it would be any different now.On a side-note, could you all stop asking why FR has not been posting. I’m hopeful he went over and that’s the last we’ll hear of him!
Stress now Blessed Says:
April 17, 2008 at 11:55 pm ForexGuy -That was cold! ha ha ha ha haDon’t you see him back in the form of JohnDoe? Same ting.
Easy Street Says:
April 18, 2008 at 1:03 am I feel John Doe should exit this blog. It seems he has nothing to do with his life but make others as miserable as he is. Not once has he repsonded in a positive manner.People, please do not allow these “wanta bees” who probably have a net worth of 100.00 to constantly upset your stomach.See for yourselves, not one post of John Doe has anything postive to say.

As the old saying goes, “misery loves company.”
Livin n Babylon Says:
April 18, 2008 at 1:41 am Stressed Will Be Blessed – It’s just a waiting period for all of us. Cash flow problems are abundant and not uncommon in business. I spoke with Sean McDaniel at Olint and the story I received from them is the same that LewFam is telling (which I realize doesn’t prove anything), but again when you normally move 20-50M per month (and this is your understood business mode of operation) to then move 300-400M in a single month is a problem. I find it a bit troubling that people insist on telling everyone in the forum that this isn’t a problem, because banks have lots of money, blah, ba-blah… That is patently absurd – banks do not have lots of money, these guys are leveraged to the hilt and invested lock, stock, & barrel. Any uncharacteristic move of that much capital is disruptive and under the Patriot Act it does warrant an investigation.Everybody needs to lighten up – it’s not as though anyone is going to go down to Turk Caicos and demand their money anyway. So, to chime in with some recent admonishment, just wait until May and trust that the guy is a real human being that doesn’t want people showing up at his house in Turk Caicos demanding their money. The guy is too vulnerable and well known to run and too well respected to be anything but the facts, a talented forex trader that knows how to make money in any market. Talk to those closer to the situation like F1 Investments and especially LewFam. Right now the company has to do what they are told or not continue to trade, which would end a very beautiful thing for most of us in this blog.PS – For those of you trying to figure out the 16% March, unless some one on Plan B can correct me on this one, I think David just simply traded the fund for both Plan A and Plan B the same, which is obviously easier to when cashflow is stabilized. Again, if I were David I would tell everybody, all withdrawals are an end-of-month transaction and to deal with the matter. Steps have to be taken to streamline the operation and simplify accounting.

PEACE! Be still…
DH Says:
April 18, 2008 at 2:00 am Livin n Babylon
Actually The B plan payed 20%
DW Says:
April 18, 2008 at 2:03 am For all the “naysayers” LONG LIVE OLINT and the DAVID SMITH team.
Stress now Blessed Says:
April 18, 2008 at 2:09 am LNB
O’s B account paid 20%.I totally agree with you.Banks are sending out notices about Home Equity Lines of credit. HELOC is given based on your mortagage balance and the value of your home.

Many banks have sent notices to home owners informing them that the $100,000 line of credit that was granted last year May is frozen, and they will not be able to access for further use. Simply because of the housing crisis where some homes were bought in the midst of the bubble and have since lost its value due to the artificially inflated price in the first place or the bank just simply reducing its risk.

I totally agree with you LNB, let us wait until May or even June if it boils down to that, and if at that time we have nothing, then we revisit what our recourse should be, can be etc. etc. O has never asked for time to pay.

I understand many ppl will be hurt by this, but again- there is nothing we can do at this time. If O is in a financial bind, and give us a DD excuse to trade himself out of it – so what? There is nothing we can do but wait, if waiting means we will get our money, only later- its all good.

There will be absolutely NO transparency from O or any other club anytime soon, so all those ppl who want transparency, can go look through a clear glass and stop looking in a mirror

MD has one of the poorest CS you can ever find, but I think they have resorted to “you either grow with the pain, or leave without gain” attitude. Dem not taking us on, and they are doing what suit them and what they think is in the best interest of the club. With that said, it is not right, but what can we do? Grin and bear it, or close your account.

Peace my brother- I think we read the same book, even if it is “FICTION”

Much love LNB!
DR Says:
April 18, 2008 at 8:29 am Cash Plus has NO MONEY in Jamaica….really?1) So tell me something, how are the workers for his security company that is so Soverign…how are they being paid?2) How are the lawyers being paid?
3) Did’nt the football community get money up to recently?

http://www.jamaicaobserver.com/news/html/20080417T230000-0500_134681_OBS_CASH_PLUS_HAS_NO_MONEY_HERE_TO_REPAY__COP_TELLS_COURT.asp
chrisj Says:
April 18, 2008 at 10:08 am Hail to the people,
I requested two draws from MD back in January totalling 500g (I own two accounts) and they just last week Friday paid me only half of one of my requests. I don’t know what the reasoning was behind that action and though I was disappointed at the amount, I was quite happy to receive anything after having started to write them off. They offered no communication about the reason the funds I requested were not delivered and they even updated my account (not indicating the balance as a pending draw.) I don’t undestand.Of course it’s only voice mail, so I’ll have to justy hug it up for now.
I spoke yesterday with a Friend who is a senior exec at FSC and she explained to me that Capital Blue had given them an imporession that they would play by the FSC’s rules but they later found out that they were doing their own thing so they quickly moved to add their name to the list of the “famous”.
It would seem to me that Maybe (Donovan) he really is not related to someone at FSC if things are going down this way for him.
jeremiah Says:
April 18, 2008 at 10:49 am “I guess MD has really been doing their due diligence as they had said huh, as I now see a number of my friends scampering to send in the docs they should have since Nov……I hope its not too late. Funny, people spend so much time cussing and criticizing yet their house is still not in order. Anyway things seem to be happening there so I’ll just keep on keeping on”.Mercury thanks for the positive feed back on the last post.Friends keep praying great days are ahead. With our prayers and God’s help the different clubs will weather the storm.
HD Says:
April 18, 2008 at 11:07 am On January 15 I mentioned the stock POT on the Toronto Stock Exchange (TSX/TSE) . The Stock was trading between 120 and 140 at the time. Today it is now over $200. ( I have share in it)Last week I mentioned the stock FXI on the Toronto Stock Exchange (TSX/TSE). It was trading at $1. Today it is at $2 down from $2.50 on Wednesday. ( I have shares in it)In general the commodities, Gold, and Oil stocks should do well. Some good tech stocks (and safe) would be RIM and Google. The experts are saying that there are some great buying opportunities for Banks and Financial firms. Some billionaires are actually gathering money to buy banks outright.

In my “New Year” post I mentioned that this might be a good year to trade some stocks. Do your own research and analysis before investing.

FYI

I still have money in WW – sticking with my plan and taking some of my profits on regular basis

I also mentioned in my “New Year” message that we all need to learn how to trade Forex for ourselves. I am now a live FX trader. I am struggling but I am learning. Today I am up approx 9% for the month (not bad for a beginner I think).

Good Luck. Be smart and invest wisely.
HD Says:
April 18, 2008 at 11:10 am FYI….the bastards (WW) just sent an email announcing additional telephone lines.
Patricia Says:
April 18, 2008 at 11:27 am HD
HD Says:
April 18, 2008 at 12:37 pm Hi Pat … yeh I can only get my head above water on weekends to read the blog and post…Cheers
rexton gloudon Says:
April 18, 2008 at 1:18 pm I’m curious, what happens when those who requested funds from their respective schemes do not get same come may of end?
wardog Says:
April 18, 2008 at 1:20 pm NCB get go ahead from supreme court to close O account in ja
DH Says:
April 18, 2008 at 1:32 pm Answer back “O Filed a injunction preventing NCB from closing their account until the appeal is heard”
wardog Says:
April 18, 2008 at 1:37 pm only delaying what must happen.
Jah Know Says:
April 18, 2008 at 1:38 pm Tell me DH how long is this injunction. Because if them account people who benefiting from the likkle payouts taking place would lose out. Also since they cannot get any fund off trading platform then that simply means no monies can neither be wired.
wardog Says:
April 18, 2008 at 1:38 pm MLC seem to have won….
unreal_investor Says:
April 18, 2008 at 1:44 pm MLC may eventually win the battle but we club members will win the war…
DR Says:
April 18, 2008 at 1:56 pm So what if they got money from “C+” or “O”?http://www.radiojamaica.com/content/view/7389/26/
bronxny Says:
April 18, 2008 at 2:03 pm HD
If you are looking into commodities, do due diligence on uranium. One possible is U on TSX. It is way down from the highs, don’t know why. The thought is that we will have more nuclear power plants esp in China. Mek sure you understand their busn plan before jumping in.
Mercury Vapor Says:
April 18, 2008 at 2:52 pm I know this has nothing to do with Investment Clubs, but I had to ask…does anyone here use the Magic Jack?http://www.magicjack.com/1/index.aspIf so, does it really work? Is the voice quality very good?

Thanks
OD Says:
April 18, 2008 at 3:20 pm I have been out of the loop for sometime. Trying to play catch up. Man, you guys have been blogging away. DR, I agree with you – What are they going to do if it is confirmed that specific candidates received funding from any of the clubs? I guess, they will be asked to make repayments LOL.I have been reading the articles surrounding CH’s arrest. They have stated fraud and money laundering. I dont think that these assertions should be made without concrete evidence. Issuing cheques with no money in the bank, I agree, constitues fraud. Can we see evidence of money laundering? I guess in time things will unfold. If it is true that large sums are being held overseas, could it be that CH had no choice but to move funds overseas because of what was happening within the FSC and the commercial banks. Let us not be too quick to pass judgement. I am an investor and I may have lost my money, but I question the arrest and the motive behind it. I am convinced that if C+ had been left alone, It probably would have been arround for a few more years. My gut feelings tell me that CH started transferring money overseas when the FSC and the banks started coming down on him. I would like to hear from this man.
Ronnie Says:
April 18, 2008 at 3:20 pm The magicjack does work and the voice quality is good. Computer needs to be on to receive and make calls. Regular phone plugs into magic jack to make and receive calls. Option to use the computer speaker and microphone too, useful if you are traveling with a laptop. Modest computing power is sufficient unless you keep a lot of applications running, in which case you will need a faster computer for good voice quality.
Mercury Vapor Says:
April 18, 2008 at 3:30 pm Thanks Ronnie, that was very helpful.
Mercury Vapor Says:
April 18, 2008 at 3:34 pm Re: Post 1387Hello OD, this is a good webpage to read, just for general knowledge. Please check it out if you haven’t already:http://en.wikipedia.org/wiki/Ponzi_scheme
Kaye Says:
April 18, 2008 at 4:28 pm Court denies OLINT extension on injunction against NCB
Friday, 18 April 2008
A last ditch effort by attorneys representing the unregulated Foreign Exchange traders OLINT Friday morning prevented the National Commercial Bank (NCB) from closing its accounts.OLINT had been granted an injunction blocking NCB from closing its accounts until a lawsuit it filed against the bank was heard.Lawyers representing OLINT went back to court Friday seeking an extension of that injunction but High Court Judge Roy Jones refused to extend the injunction stating that there was no merit in any of the claims that OLINT was making against NCB.

NCB’s Attorney-at-Law Dave Garcia told the RJR News Centre shortly after the ruling that the Bank will be closing the accounts.

“After the ruling, an application was made by OLINT for an injunction pending appeal (but) Judge Jones refused that injunction and we’re in the process of closing the accounts,” he said.

But minutes after, lawyers representing OLINT rushed to the Appeal Court.

OLINT’s attorney Georgia Gibson-Henlin told our news centre that NCB cannot close the accounts before coming back to the courts on Tuesday as they were granted an interim injunction.

“We have filed an appeal and we’ve also filed an injunction pending the hearing of that appeal,” she said.

She added that on Tuesday, they will apply for a longer term injunction pending the hearing of the appeal of Judge Jones’ ruling.

NCB is arguing that OLINT is unregulated and has consistently failed to submit its audited financial statements as required by law.

For its part, OLINT said NCB is in breach of the Fair Competition Act.
Kaye Says:
April 18, 2008 at 4:29 pm Driva , time to archive
unreal_investor Says:
April 18, 2008 at 5:06 pm Well its time for people to get offshore banking savvy…
Jcan Says:
April 18, 2008 at 5:47 pm Thank God its Friday! I can finally breathe….looking forward meeting up with friends/dominoes/chess/jerk fishTrying to play catch up going through the many posts from the important investors contributors to this blog… …I noticed that “S/Blessed” not in need of patient anymore…just patience to deal with a potential patient……Have a blessed weekend everyone and let no one robs you of your joy….’one moment of anger is one less moment of happiness.’….
Pip Unit Says:
April 18, 2008 at 6:31 pm Lewfam is now saying 1 month when you submit for encashemnt. Good Times LOL
Mr Info Says:
April 18, 2008 at 6:45 pm Yes, but Lew Fam is following through with their encashments. Not one person has complained about not recieving encashments. The DS situation may have slowed things down from 2 weeks to 1 month, but everyone is recieving their funds. Go Lew Fam!
cookie Says:
April 18, 2008 at 7:48 pm I made ana encashment for lewfam from april 1st and has not received it yet. They say by the 21st but I am worried it may not be till the end of april to early may. Anyone else having the same concern or issue
cookie Says:
April 18, 2008 at 7:58 pm I am curious are all companies and businesses in jamaica are required to have a financial statement to be able to open a bank account….? I am dumb about such stuff
Stress now Blessed Says:
April 18, 2008 at 10:18 pm Happy Friday Everyone!
ForexGuy Says:
April 19, 2008 at 12:49 am Stress, is that your way of marking the posts for easier finding later?
Stress now Blessed Says:
April 19, 2008 at 1:01 am ForexGuy -
What are you referring to, mi Not because you see mi get vex often, mi is quite a happy personyou seettt?
Rosy Gray Says:
April 19, 2008 at 4:13 am ALL CLUB MEMBERS SHOULD BOYCOTT NCB AND SUPERPLUS SUPERMARKET FOR REAL BECAUSE MLC IS RUNNING JAMAICA – NOT BRUCE G – POOR THING
Oneil Says:
April 19, 2008 at 6:27 am re1401I am willing to boycott NCB, look a cash plus, which bank is gonna accept their payments if NCB has blacklisted them.The same will happen to OLint.
DR Says:
April 19, 2008 at 7:08 am Rosy Gray:-I understand your pain, but you would have to boycott alot more. For example:, Please decode:While “Looking in, Looking out” you might start to “Look even better”…especially when looking at the “FLOWing” waters but then we really can’t avoid the “Associates” who are “Medical”. Can we?
I wonder if there is a “General Advantage” if you insure your car there? Rosy, I don’t have all day, do you want me to continue?
DR Says:
April 19, 2008 at 7:16 am Ppl, get prepared, as far as I am concerned it is just a matter of time before “O” accounts are closed.To be really honest, it’s just a matter of time before ALL forex clubs accounts are closed.The banking association & the regulators wants to get rid of all clubs! If you think is joke I am making, wait to see how long it is going to take “WW” to get registered? and what will be the requirements?

Remember if the clubs exist, there won’t be any reason to borrow money. For example, one of my best friends is now a Jamaican dollar millionaire, but in Feb 2007, that person had less than Ja$300,000 to their name. See my point…. The banks HATE THAT.

(Between me an you, I think the current government want the clubs to exist)… I CANNOT tell you why on this blog, but Think & Check. Remember who attended the Foundation Launch…hahahahah
DoItUrSelf Says:
April 19, 2008 at 8:44 am Hi FedUp
How long did it take for u to get your daises…I have been waiting since March 14
Fedup NOT Says:
April 19, 2008 at 9:26 am Doityourself@995, I requested my daisies on Jan 21 and got them April 11.
DoItUrSelf Says:
April 19, 2008 at 10:18 am Are you kidding FedUp???
Easy Street Says:
April 19, 2008 at 10:44 am I hear Capital Blu is on the rise ? Anyone have any input.
Easy Street Says:
April 19, 2008 at 10:46 am DR,You are speaking JA residents only? I doubt they can shut down the clubs that have moved outside JA jursdictions.
keekee Says:
April 19, 2008 at 11:45 am can anyone say where WW accs will be moved to locally
wardog Says:
April 19, 2008 at 11:49 am WW acc will be off shore.
JK Says:
April 19, 2008 at 11:54 am but rbttt hasnt close their a/cs
DR Says:
April 19, 2008 at 12:36 pm KeeKee:The head of “WW” told a few of us the other day, that JMMB, Capital Solutions and UGI finance is where they will be spreading the money they have left in Jamaica. I think 60% of their funds in off-shore.DoItUrSelf:

I requested my daises mid-February, still have not received…. yes, it’s been a while but at least the DD is over.
JK Says:
April 19, 2008 at 1:17 pm DR sounds like u know the chairman well
Realist Says:
April 19, 2008 at 1:24 pm Seriously, too much greedy people out there. Oonu tek oonu hard earned money, put it in get rich quick schemes, then bawl when they crash. No bail out for oonu! lol.
JK Says:
April 19, 2008 at 1:34 pm i always say only invest wat u can afford to lose in them tings but ppl jus feel seh is a all or nothing ting……..then now when them get nothing them go ballDONT GAMBLE WID UR LIFE SAVINGS SUH EASILY start small
Rich Kid Says:
April 19, 2008 at 3:34 pm #995 – DoitUrself – you should receive your daisies by summer I requested mine Feb. 20 and I have not received it sooooooooooooooooooo pick a number….hush
DR Says:
April 19, 2008 at 4:11 pm Easy Street 999:-No they can’t lock down clubs that are registered off-shore but I fear they can do other things…. Remember “The ENEMIES” will do anything to stop us form prospering.They may question cash remittances, they may block websites in the future, Did’nt a government do that to SwissC some time ago?
Realist Says:
April 19, 2008 at 5:48 pm “Remember “The ENEMIES” will do anything to stop us form prospering.”Oh come on! You people are taking this “enemies” argument way too seriously. Nobody is out to stop you from prospering. Regulators and banks are doing what they are supposed to do – enforce/comply with the law, and protect citizens/investors.Nobody would have a problem with “clubs” if they complied with the regulations in place and were transparent in their dealings.

You same people talking about “enemies” not wanting you to prosper will bawl for govt. to bail you out after these clubs crash and take your money with them.

Wise up! Be smart about what you do with your hard earned money and don’t take foolish risks!
cookie Says:
April 19, 2008 at 6:22 pm well the clubs could go offshore and the customers would have to get offshore bank accounts. HSBC has an offshore bank account minimum 10K US. For you US residents all you have to pay taxes to the irs of course. But doing this may be neccessary until Jcan gov’t sort out the legal and legislative frame work for forex, investment clubs etchttp://www.offshore.hsbc.com/1/2/international/how-can-we-help-you/why-bank-offshore-with-hsbc-international?WT.ac=HBIB_1501_PS
cookie Says:
April 19, 2008 at 6:26 pm I m sorry there are several account for various openning amounts
Easy Street Says:
April 19, 2008 at 7:09 pm Cookie,Tell me about offshore accounts. Have you invetsigated as to their relationship with teh invetsemnt clubs. This seems to be good solution.
Rich Kid Says:
April 19, 2008 at 7:39 pm #1009…Realist…I see that you are a realist…that’s good. However, have you really wondered what the regulators are putting forward to these investment schemes to have them regulated – what really is the criteria for being licensed? They can’t put through the same rules as a bank being regulated – they need to modify rules to fit these investment schemes – dem a nuh bank.I have been in a number of schemes and big regulated institution (like Century in the 90’s) that have gone down and I have just gotten up, brushed off and shouted “NEXT!!!” I have most of my funds in MD and if dat pap dung too – mi a go move on again.Realist…..the typical “sensible” person will do the same thing I am sure. Some will of course, hire a lawyer to recover their funds – dat nuh have nutten to do with bail out. Of course you will have a number of persons looking bail out which is the same people who keep bawling for “justice” for every striking thing – we can’t do anything about them.

Who is this forum looking bailout if the scheme you are in pop down??
forexrookie Says:
April 19, 2008 at 8:11 pm AS I NEW MEMBER OF LEWFAM IM CONCERNED. HOW MUCH DEALING WITH OLINT DOES LEWFAM DO. ? CAN LEWFAM SURVIVE WITHOUT OLINT.?
Easy Street Says:
April 19, 2008 at 8:32 pm ForexrookieDo not be concerned about Lew Fam, they have several trading houses that they are working with and Ds has been training thre personal team of traders fro some time now.
forexrookie Says:
April 19, 2008 at 8:55 pm thank you for your input. just got in 2 months ago..was going to sell more stail stock and put it in lewfam along with my original deposit. but all this talk kinda made me freeze….Lewfam does seem to be very organized and on top of things…Go Lewfam
Jcan Says:
April 19, 2008 at 9:07 pm Over the years I have lost a total so far of $65,ooo.oo from my government regulated transparent retirement fund….3 years ago I withdrew from what was left of my retirement fund a substantial amount and entered the world of high yield forex investment. I was told to borrow from my retirement, the tax plus penalty was approx $30,000,00 for withdrawing. I know after due deligence that forex investment is high risk…I did not want to pay back anything if it did not work out….I figure, if the so called trained people can invest my hard earn money and loose 65K…..it was time for me to give faith a fighting chance……The rest is history.Forex investment has secured a good retirement for me, much more than I ever dream. Therefore, I will continue to invest wisely and forex will always be in my financial portfolio and as long as DS is trading for mr public, I will be one of his investors.
Realist Says:
April 19, 2008 at 9:08 pm #1013 – Rich Kid:“… have you really wondered what the regulators are putting forward to these investment schemes to have them regulated – what really is the criteria for being licensed? They can’t put through the same rules as a bank being regulated – they need to modify rules to fit these investment schemes – dem a nuh bank.”Read this document:

To be licensed, entities need to submit the relevant application form, copy of audited financial statements, and evidence that key individuals in the entity are “fit and proper”.

Why should the requirements for registration be changed to suit these investment clubs? Which of the requirements would you change, and why? They may not be banks, but they take people’s money nonetheless. I would think that smart investors would welcome measures that seek to provide them with the assurance that the entities they intend to deal with are clean and above board so that they can better manage their risk.

You may understand the risks involved, and be able to “move on” if things go bad, but there are plenty people who don’t have your mindset who are involved in these things. They don’t realize the true nature of the risk they take, and have an expectation of guaranteed returns and no loss. I am sure that some on this board will be crying out to the govt. or cussing them for not taking action sooner, if their beloved investment clubs crash with their money. These may be the same ones who swallow and spout this “Enemies don’t want us to prosper” rhetoric.
Realist Says:
April 19, 2008 at 9:17 pm After the financial meltdown in the 90s people bawled about why the govt. didn’t step in to prevent it earlier. Now people are demonizing the regulators and the financial institutions seeking to comply with established regulations.I think it would be beneficial for investors in these schemes to seriously, objectively examine the facts with a view to understanding and better managing their risks. Go and find out what the real story is behind regulations and licensing. Go find out what the banks really have to deal with when it comes to anti-money laundering regulations. Try and look at the issue from all sides, and you’ll see this business about “Enemies” conspiring is really just propaganda.No better way to con the masses than to appeal to their base instincts, emotions and desires. Greed + Paranoia = Good con!
Rich Kid Says:
April 19, 2008 at 9:30 pm #1018 – okay Realist…I am aware of the documents to be submitted by these schemes and I really would not change any of them but what are the conditions that go with being regulated – that I don’t know and would love to know. There must be some condition that the clubs are not agreeing with. I dunno – maybe you know or can find out what are the conditions?
Rich Kid Says:
April 19, 2008 at 9:37 pm On a serious note though people – MD a gwaan like real eediat yuh nuh….when are they posting the gains. Has anybody gotten through to them recently?
Fedup NOT Says:
April 19, 2008 at 9:43 pm Someone got through to MD recently, I believe it was SnB and was told that this weekend the accounts would be updated. They seem to be overwhelmed as we were told the same thing last week so that’s why persons complained on Monday of not seeing their gains etc. Let’s hope that they’ll be true to their word this time around.
Rich Kid Says:
April 19, 2008 at 9:46 pm Thanks Fedup Not – everyday they are overwhelmed – I am tired of them.
cookie Says:
April 19, 2008 at 9:56 pm easy street I am not sure where you live but I live in the US. HSBC is one of the largest banks in the US behind chase, Wachovia etc. I am saying that if people are having a problem with jamacan banks they have the option of getting an offshore bank account taht would provide themm with the same service, savings, withdrawal,visa/mastercard , checking account. You would have to keep your money in foeriegn currency than jcan dollars.
cookie Says:
April 19, 2008 at 10:22 pm forex rookie,
lewfam is different from olint. Lewfam main trader is DS but according to lewfam they have other traders. Based on investigation I was told that DS does actually handle lewfam money but has some Power of attorny to trade. So DS cannot withdraw but trade only lewfam can withraw.I could be wrong though.
DR Says:
April 19, 2008 at 10:28 pm Cash Plus woes:http://www.jamaicaobserver.com/news/html/20080418T200000-0500_134708_OBS_INVESTOR_GETS_COURT_INJUNCTION_AGAINST_CASH_PLUS.aspEven more trouble:

http://www.jamaicaobserver.com/news/html/20080418T220000-0500_134736_OBS____M_CASH_PLUS_SUIT.asp
thanks Says:
April 19, 2008 at 10:44 pm hell0
Realist Says:
April 19, 2008 at 11:06 pm Rich Kid:Take a look at this page at the BOJ website:

It outlines what financial institutions have to be compliant with.
Realist Says:
April 19, 2008 at 11:36 pm Here is document from the FSC on Anti-Money LaunderingAny bank, local or foreign, is very likely going to inclined to have controls in place to deal with money laundering. This will bring them in conflict with the operations of many of these investment clubs.Keep that in mind people!
cash Says:
April 19, 2008 at 11:54 pm just log on to md apparently my account was made inactive because my id was not legible. been with md for 8 months now …..is this a joke or an excuse for not paying
PEI Says:
April 20, 2008 at 12:03 am but wait it seems like noctec come back as realist or johndoe. it look like the same person and them post from blog to blog.saying the same thing. You soon see they start call you stupid jackass because you dont agree with everything they say. they go round the blogs laughing about the idiot olint and MD people them and how they not taking there advise. Richkid save your breath. they soon start curse you. me dont know who tell them that evrybody here have lifesavings in the clubs and will die if they go down. A few might but is only a few. anyway realist like how you so helpful go round and organise up some meetings for the public and teach them about the cons and where to invest and so on but dont curse them out just teach them maybe they will listen more.you seem to have the time.
Realist Says:
April 20, 2008 at 12:28 am lol@PEII are not noctec or johndoe. I are who I are. lolRest assured, I’m not here to call anyone stupid, nor am I going to curse anyone. That’s not my style.

At the end of the day, it’s your money, and you take whatever risks you feel like. I just think that before you do, you should understand what you are getting into, and not feed into the hype and propaganda which seems to be the order of the day.

I know that it’s not everybody who has their lifesavings in these things. But you check the man or woman on the street and you’ll hear that these schemes hold the hopes and dreams of “poor people”. You may not feel it if things crash, but others will. Worst if these schemes turn out to be pyramid or ponzi scams and your gains would be at the expense of others.

Sure I have the time to share my view, just as you all have the time to share yours. It just amazes me that supposedly intelligent investors seem to be operating off emotion and speculation instead of sound investment principles as they should be, then worrying about why they can’t log on and get their balances, and when will they get their “daisies”.

lol
Realist Says:
April 20, 2008 at 12:37 am Oh, I also find it interesting how instead of addressing the issues and facts, some people prefer to attempt to demonize and discredit those who hold an opposing view. That approach doesn’t help anybody. I know that what I say will not be popular with many here, but look at the issues instead of launching a personal attack. That is a more productive approach.
forexrookie Says:
April 20, 2008 at 1:51 am THANK YOU GUYS I READ THIS BLOG EVERYDAY. YOU HAVE HELPED ME UNDERSTAND MORE ABOUT THE FOREX OF WORLD OF TRADING A LITTLE BETTER. IF ANYONE HAS ANY OTHER INFO ABOUT LEWFAM CLUB I WOULD LOVE TO GET A LITTLE MORE EDUCATED ON THEM. THANKS
Investment Tech Says:
April 20, 2008 at 10:19 am #441i got the same message. A friend of mine also got the same message.
I hope MD is not doing this as a stall tactic.
Stress now Blessed Says:
April 20, 2008 at 10:42 am Good Sunday Morning AllCash #441
Many MD members do get this message. Please be mindful that MD told us they were doing their DD as result of their DD by Wachovia. 4 out of 6 of my friends who became members of MD when I did, were locked out for one reason or another and the most common was ID not legible.Let us not get too caught up in the hype and throw every club in the same barrel as C+. It is reasonable to assume that MD is required to be in compliance or up to standard to maintain relationship with these financial institutions.

Unless you are no longer interested in remaining a member it might be in yourbest interest to provide a more legible picture in a timely manner, as I know they have “ejected” many memmbers for non compliance.

This might be a requirement by the bank – think and check.

Please also note that O is also requiring many things that were never required in the past, and they too are undergoing DD.

Good luck!
Lisa Says:
April 20, 2008 at 10:58 am hi
i got the MD message as well(ID not legible) and emailed them and they said that it was the wrong notation but i have not sent in a letter from a bank as refence. I will try and comply come monday and see if the account will be reactivated so i’m keeping my fingers crossed. Did anyone see an update of their accounts( for those who could get in)As well i transferred some funds from my o account to o tci and got a confirmation mail that the funds were transferred, but when i log into OTCI the account still reflects a zero balance. can anyone explain or should i take it to be a regular delay
Thanks
Stress now Blessed Says:
April 20, 2008 at 11:16 am Lisa #448Lisa go ahead an send in your letter as they have requested as they are seemingly in a “0 telerance” mode.I am able to log in and as of 10:00 a.m. there were no updates on gains.

Regarding O to OTCI – I had the same difficulty and I believe what happened was it stayed in pending mode for about 3 days with a 0 balance and then it reflected the balance.
Click under Navigation and click every tab and you’ll see the amount pending somewhere there. I’m not logged into O right now but it is hidden somewhere there – I stumbled upon it by clicking through every tab.

Good luck!
Lisa Says:
April 20, 2008 at 11:18 am thanks that was really helpful
Pip Unit Says:
April 20, 2008 at 11:44 am <a href=”http://www.jamaica-gleaner.com/gleaner/20080419/business/business2.html” Olint lawyers evade NCB account closure.. What does everyone think of this. Is NCB his bank in Jamaica? If that bank eventually gets frozen doesn’t he still have the majority of funds at Wachovia off the islands?
Pip Unit Says:
April 20, 2008 at 11:44 am Olint lawyers evade NCB account closure.. What does everyone think of this. Is NCB his bank in Jamaica? If that bank eventually gets frozen doesn’t he still have the majority of funds at Wachovia off the islands?
Pip Unit Says:
April 20, 2008 at 11:46 am Sorry one more time. Here’s the link to the story
http://www.jamaica-gleaner.com/gleaner/20080419/business/business2.html
Stress now Blessed Says:
April 20, 2008 at 11:51 am Pip
Your link wasn’t live to the article; however, I understand that DS/O does not have any real money in NCB. My understanding is not that they are going to “freeze” the account it is that they want to “close” the account.The difference is when they freeze you do not have access to money, when they close they give you what you have and you do not have a relationship with that bank.I think this fight is for the convenience of Jamaicans who would need immediate accessibility to funds from a local bank. Most overseas cheques take up to 30 days to clear and for many that would be an inconvenience.

Let up pray that something is in the works to aleviate this inconvenience as O continue to work behind the scenes on our behalf.

Blessed
Stress now Blessed Says:
April 20, 2008 at 12:10 pm EVERYONE-
Re below********* taken from the Gleaner article.QUESTION: Could NCB be operating out of malice?REASONING: I know for a FACT that MD was going through DD with Wachovia and they pretty much operate in the same fashion as O. MD at the end of the “ACTIVE” Wachovia DD(by the way I understand is an ongoing process)did their internal DD process ejecting many clients and requesting documents, but continue to make payments from their Wachovia account even though, far behind schedule.

FINAL ANALYSIS: I am 99% sure that MD did not provide Wachovia one of the top 5 banks with audited financial statements and they did not close their account.

WHY? WHY? WHY? WHY NCB, WHY?
**************************************

“NCB had notified Olint in November last year that it was going to close its accounts because it had not complied with its request to supply certain documents which included audited financial statements. The request was made to satisfy NCB’s anti-money-laundering policy, Know Your Customer, and other local and international measures to protect the integrity of the banking system”
Paige Says:
April 20, 2008 at 2:39 pm Good afternoon allYou know, I can’t understand for the life of me why bloggers like FR, John Doe, Realist, etc who have no investments in OUR clubs constantly berate them. I just don’t get it. Maybe it’s me, but day after day after day. Come on now. When one takes a break another one pop up and again, THEY HAVE NO VESTED INTEREST. WE ARE NOT IN NEED OF YOUR PROTECTION. WE ARE ALL GROWN PEOPLE HERE. This blog was created for sharing experiences and knowledge of the clubs. How can one share experience if one is not a member of any of the clubs. WHERE ARE THESE PEOPLE GETTING THEIR KNOWLEDGE OF WHAT’s HAPPENING IN THE CLUBS FROM? MY GUESS ID HEAR SAY FROM OTHER NON MEMBERS. I HAVE YET TO HEAR SOMETHING CONCRETE WITH SUBSTANCE FROM THE AFOREMENTIONED INDIVIDUALS.
ENOUGH IS ENOUGH!!!!!!!!!
Watchful Says:
April 20, 2008 at 2:53 pm #455 SnB
From my understanding of the banking system, audited statements are required for lending purposes. This will allow the banks to determin whether or not the borrower is financially stable. To open a business account, only the Articles and Memorandum of Association along with the Certificate of Incorporation is needed.If O is not borrowing, then audited figures should not be needed. Sooooooo, maybe is is malice!! Or just protecting ones territory!!
Roli Says:
April 20, 2008 at 4:10 pm #45 Paige, I have to disagree with you on that one. I am not defending people like FR nor DS either. But their opinion must be valued also. From my perspective they add balance to this blog. I for one would not want a blog where everyone is to the far left. We need people to give their opinion from the far right also. It is up to you to take it or leave it. I really want to see these inevstment clubs succeed myself. But just as how i value the +ve inputs I also value the -ve ones as well. Let us agree to disagree.
PEI Says:
April 20, 2008 at 5:55 pm Me agree that you need diferent view on the blog but when the posters them that not in the clubs just come and go on like everybody is idiot and them only have sense it hard to put up with them. I never get in involve with C+ cause i did not get how they making money so that one never hold me. Higgins me hear was a con man before plus him never look too righted. When I start hear about this fx thing some tell me is like race horse gamling and others tell that is noot just so and then me start hear about DS and so on. I check it out and ask everybody about fx what i did not understand I ask more. I decide to take a risk after I check out about DS. you can do all type of planning and so on but at the end evrything is a gamble and I know that going in and prepare if it did not work. I would be a mad man to blame anybody but myself.
Paige Says:
April 20, 2008 at 6:50 pm RoliHow can someone offer anything constructive if all they are doing is speculating. David Smith is a conman according to FR. Where is the proof? Den John Doe bout im London Bridge is fallin down. Folks this is not a game.People can disagree but when one attacks someones character without proof or make childish comments bout London Bridge is falling down, a line should be drawn.
Realist Says:
April 20, 2008 at 8:24 pm Paige:It is amusing to hear you speak about hearsay. Hearsay is what brought most of y’all to your investment clubs in the first place. I haven’t brought up any “hearsay”. All I’ve said is that people need to be smart and look at the facts instead of getting all caught up in their emotions about investing.Quite frankly, you can do whatever you want with your money. What gets me though is this paranoid rambling about “malice”, and “enemies”. Law is law, regulations are regulations and people should comply with them. Why would anyone have problems with complying with rules and regulations?

I haven’t assaulted anyone’s character. But for those who worship the very ground some of these club leaders walk on, ask yourself this question: how well do you really know these people you put your trust in? You would be surprised at what lies in the backgrounds of some of these people – even the one you all seem to love best.

lol

Who nuh like weh mi seh, just ignore it. lol
Independent Says:
April 20, 2008 at 8:48 pm If something is too good to be true it normally is.
When I first heard about these alternatives I was very skeptical of them, but i went in and threw a little money into Olint.
But folks it does not look good.I am a simple minded person and If Olint is refusing to publish financial statements it indicates they have something to hide. If Olint cant give me my money when requested, to my simple mind it means, they maybe running low on money
So while I have money in this thing it is not clouding my judgement. By proffesion I am a trained Psychologist and the behaviour on this blog is typical human nature, when people are too emotionally involved in something it clouds there thought process.
Now I can HOPE things work out but the CIRCUMSTANTIAL evidence that is out there indicates that Olint is a ponzi scheme and my money might just be gone.
unreal_investor Says:
April 20, 2008 at 8:48 pm Some of dem detractor yah gwan like them holier than thou to rahtid, brining up people past an all. Gwan hide behind you IP address, if you want us tek you serious post your name and credentials for all to see. If you all so brilliant, why you wasting your time on the internet posting on forums all day, go play mother tarissa or something. Anything can change the situation the club members are in now. Your unproductive negativity is more useless now than ever. Anybody can pick the wining horse after the horse done win. Where was your brilliance five years ago? Stop your rubbish and go do something productive…
Independent Says:
April 20, 2008 at 9:03 pm To certain people, lets not call each other fools for entering these investments. Alot of people were genuinely misinformed and took the plunge. Alot of people have 100 plus thousand into these things and I am sure the uncertainty is eating them up inside.
Wan Spec Says:
April 20, 2008 at 9:10 pm # 464 – INDEPENDENT. I wouldn’t say that OLINT is a ponzi scheme, at least not yet. Something is obviously wrong to any thinking person beyond what they are telling us, but I would not throw in the towel just yet.There is as much CIRCUMSTANTIAL evidence pointing in the other direction.My feeling is that the truth lies somewhere between the ’sky is falling in’ crowd and the ‘all is well, keep the faith’ crowd.
Mercury Vapor Says:
April 20, 2008 at 9:15 pm Hi Everyone,For those of you interested in managed forex accounts, here is a blog that has reviews of a few of them. Click on “Managed Forex Accounts” under categories on the left side of the page. Today I checked it and there are reviews of managed forex accounts from FXCM and GalleonFX.http://alansmoneyblog.com
Skeem Says:
April 20, 2008 at 9:51 pm THE BANKING CODEBUSINESS BANKING CODE (44 page pdf doc)
Independent Says:
April 20, 2008 at 9:59 pm Wan SpecI hope you are right. But this is playing out just like CP and i get the feeling we are being led down the same path.
Lee Abrams Says:
April 20, 2008 at 10:11 pm if anyone is interested in lewfam feel free to email me at: lee4ever@gmail.com…..
Mercury Vapor Says:
April 20, 2008 at 10:37 pm Man, Skeem you’re the best!No “hello”…no “well my opinion on O is”… no “how’s everyone doing?”…nothing! Not a good damn word!He justs posts his link…and then cuts! Man, I like this guy.

I wish more bloggers were like him, and not fill up this blog with foolishness.
chillin Says:
April 20, 2008 at 10:48 pm Here that MD is now sending wiring which was requested at the last week of feburary, I wonder about the interest update.
Stress now Blessed Says:
April 20, 2008 at 10:54 pm Robinotep @ #461
Since you wrote the book and you know what happens at the end, why dont you just tell us so we don’t have to read the whole story?OK, SINCE YOU TELLING US MEK WE READ IT….
Nobody twisted our arms and took our money – we just fool fool, with a get rich quick mentality, that we allowed greed to cloud our judgement and even though the writing is on the wall for all to see, we are still not taking heed because we craven and we want the almighty dollar, even though the man that we believe in is a con artist, can’t trade for anything, broke, can’t provide any transparency and is obviously a ponzi scheme – we still shut our eyes and play blind and blame it on malice even though the law is the law. We jamdowners will just have to learn the hard way, if we decide to continue being blind…………THE END!Robinotep- YOU write the story, WE took precious time to read the story, Even though WE DON’T LIKE THE STORY, WE understand that it is a TRUE story, and we should learn from the story, especially since is the same OLD STORY, but most of all please realize…. THE STORY END!

********************************
Realist @462
It obvious your vacation has come to an end. I hope you and Cindy had a wonderful time.
RedP, sake a you and you CAUTION, It is obvious you they took great caution while going over the the very high high high bridge cause him and Cindy come back safe and sound.

FR, I know a nice place you and Cindy could go for unuh next vacation. It is a nice place in Florida called Alligator Alley. It full a alligator ALL year round. You don’t need to take dem air boat tour cause it not cheap, just drive up there, park your car on the roadside, go down near the water along the road (park good mind car lick unuh dung) walk up to the water along the alley way and just wait for one of the BIG alligator dem to come up to you and you just pet him on him head, dem won’t trouble you, dem very friendly and it would’nt cost you nor Cindy a nuttn. A matter a fact unuh would have such a good time, unuh wouldn’t even know or care if O give us back a dime. ENJOY DI TRIP
Kevin Says:
April 20, 2008 at 11:02 pm Members,While I encourage humor, as a reminder we should aim to make our posts as informative as possible rather than tasteless clutter. Contrary to what others may think I do appreciate all views both positive and negative. We should refrain from engaging in personal attacks as there are no idiots and fools on this forum. As the ‘driva’, I can say that we have a variety of backgrounds on this forum. There are at least one of the following:Lawyer, accountant, banker, medical doctor, IT professional, actuary, Tax advisor, unemployed etc.
I am sure I speak for everyone when I say that none of us went into these clubs with any long term investment horizon. We saw a potential opportunity and we took it. If it works out fine, if not we will deal with the consequences but I can assure there are no fools and idiots here including the so called detractors.
So again I say let us change our tone and stick to making our posts as informative as possible. As a reminder, there are other pages that are available for posting and I would encourage you all to make use of these.

The ‘DRIVA’
Stress now Blessed Says:
April 20, 2008 at 11:04 pm Mercury V-
I hopeis not me you talking bout…
Mercury Vapor Says:
April 20, 2008 at 11:07 pm Hahaha…Stress Now Blessed, that was a good one. You should be a comedian!
Mercury Vapor Says:
April 20, 2008 at 11:09 pm No man Stress, you know I love you!
Fedup NOT Says:
April 20, 2008 at 11:15 pm Can anyone tell a bit more about that 25 y/o guy that jumped from the Pegasus last week. I understand that he was a trader for one of the more prominent alternative investment schemes, but he made some bad trades, any more news on this?.
Fedup NOT Says:
April 20, 2008 at 11:16 pm His name is Steven Britton
Patricia Says:
April 20, 2008 at 11:21 pm “..tasteless clutter”, I like that.
That’s what has caused alot of pple to get turned off and not post anymore. Once upon a time there was so much good stuff flowing, not just O dis and MD dat.Where’s HD, Fyier, Vela, Specs, JSM, Jcan, Mr.C, Anthony, AJ, YardMan on Wall Street, VSM, Fuzzy Original and many more !!!those were the days!!!
Stress now Blessed Says:
April 20, 2008 at 11:25 pm FedUp NOT -Good to see you on the blogging and FedUpNOT!I know nothing about Steven Britton other than what you have heard. On a different note – FedUpNOT, I was wondering if your daisies are still alive if you could give me a few stalks until mine bloom

Much love!
Fedup NOT Says:
April 20, 2008 at 11:32 pm SnB, would you believe that I check the MD site each day just to see my true balance so as to shape up for another bouquet request.I’m sure your daisies will be in full bloom by this week friday! Keep faith.
Yardman On Wall Street Says:
April 21, 2008 at 12:20 am #479Patricia, you have garnered my complete respect for your writings, and I value you as one of the financial cornerstones of this blog. I agree with Kevin’s comments 100%, and we need to restore this blog to its former days of glory, as an information icon.
Yardman On Wall Street Says:
April 21, 2008 at 12:22 am BRUCE ROLLS DICE – Government gives green light to casinos
published: Sunday | April 20, 2008Arthur Hall, Senior Staff ReporterCASINO GAMBLING could soon become legal in Jamaica. The Government has given approval for a group of international investors to establish the island’s first legal casino.

Prime Minister Bruce Golding is expected to announce the decision and provide details during his presentation in the Budget Debate on Tuesday.

Government sources say the first casino is to be established at a new hotel to be constructed in Montego Bay, St James. According to the sources, the new hotel will have more rooms than any now operating in the island, and will employ thousands of Jamaicans.

Multibillion-US-dollar development

“It will be more than 3,000, and could have as many as 4,000 rooms. However, the multibillion-US-dollar development will not take place if there is no casino attached,” the sources explained. The sources refused to name the developers, only saying that it was an international group with a good track record of operating hotels and casinos.

“This will be a major part of the Government’s drive to create jobs and more jobs and spur economic growth,” the Government sources added.

Efforts to get an official comment from the administration were unsuccessful as The Sunday Gleaner was encouraged to await the prime minister’s presentation in the Budget Debate. Speaking from China, Tourism Minister Edmund Bartlett refused to comment on the reports, also pointing to the prime minister’s pending address.

Bartlett has made no secret of his support for the introduction of casinos and, in January, described as hypocritical, the campaign against casino gambling. He argued that the interest groups, which have been lobbying against the official introduction of casino gambling, are silent on other forms of betting, gaming and lotteries. According to Bartlett, the Jamaica Labour Party government will not renege on commitments made by the previous People’s National Party (PNP) administration to give the country’s first casino licence to an undisclosed group of foreign investors.

Ongoing controversy

Jamaica has legalised slot and other gaming machines throughout the country, with gaming lounges being opened in several places. But the ongoing controversy over casinos prevented the previous administration from going the full way.

However, the PNP made it clear it was leaning in that direction after a 2003 study, commissioned by the party, recommended adopting casino gambling as a way of enhancing the tourism product. In 2006, it appeared that the PNP government had committed to the concept of a casino resort, complete with sports book, table games and slot machines.

This was to have a rider that the legal limit of 1,000 machines per location would be surpassed if the hotel had more than 1,000 rooms.
ForexGuy Says:
April 21, 2008 at 1:16 am Great e-book on Offshore Money and Asset Protection Methods. It is not the full book, but the information is definitely very helpful in terms of new opportunities for moving your money.From the research I have been doing, it seems like the best avenue for moving funds is through a swiss bank account which can most definitely be opened online.
Good luck to all and I am glad to see this blog returning to a positive and informative environment!
ForexGuy Says:
April 21, 2008 at 1:17 am Forgot the book link!!http://books.google.com.jm/books?id=7b-ZwK-HFBYC&pg=PA115&lpg=PA115&dq=chop+account&source=web&ots=KdNSS_NzfJ&sig=s_HPeMrVFQ9pLf0ne0lHi-ckrto&hl=en#PPA137,M1Enjoy!
JK Says:
April 21, 2008 at 1:27 am has any of u seen the ad by a lawyer in the observer today saying that banks are also ‘alternative investments’
DoItUrSelf Says:
April 21, 2008 at 8:23 am Anyone hear anything on the MD ting in Zambia?
Oneil Says:
April 21, 2008 at 9:30 am Anyone in here has money with capital blu, please email me on the performance to date for both funds, from day 1, email me at oneil1901@yahoo.comPeople it is time we start looking for investments which are regulated, if not in jamaica, regulated in the usa. I am tired of all these speculation about O and MD.Why is DS fighting so hard with NCB ,FSC, why not be flexible, there other options to operating olint in its current form.
Patricia Says:
April 21, 2008 at 9:37 am Hey YardMan, respects. Good to see you.JK, re the Observer AD, can u photobucket it?
DR Says:
April 21, 2008 at 10:13 am 487 Do it YourselfI heard that the Zambia MD case was thrown out of court…******************************************************
488 Oneil

I am not able to tell you the exact payouts from “DonBlu” but I know they tend to do an average of 5% per month.

Oneil, the question is why is DS spending so much money on lawyer fees? I wish I could answer…..

Here is the flip question, why is MD spending money in Zambia, why the charity? I need my garden to bloom so I can pay my tithes and give to the poor too. I watered my daises in October, then I placed some manure at the roots in November…. Are they going to wait until this month end before I start to see “real results”?
DR Says:
April 21, 2008 at 10:15 am Why did WW spend so much money on “Universe”, while ignoring the software upgrade?Why did CP spend money on football, but was not able to pay on March 31 or April 14?questions, questions,
Independent Says:
April 21, 2008 at 10:17 am Oneil, I agree with you, from now on any investments from now on should be regulated. This waiting is getting on the nerves of folks. I am tired of people coming into my office discussing these alternatives and stressing over there money.
I also don’t get why olint is fighting so hard with NCB and the FSC. If NCB requires an audit then he should get the dam audit done, if the FSC requires a licence then get it done or get the process done. Many of us proffesionals whohave gotten our qualifications in foreign jurisdictions and want to return to Jamaica we had to study again and get the relevant documents.
That is the world we live in, going to court and fighting is not the answer. It is not fair to investors to be waiting for encashments since January and every month we are being told next month. David Smith get your stuff straightned out or come clean with the investors
RedP Says:
April 21, 2008 at 10:31 am Morning People, Just a reminder,
In the words of Jamaicas greatest primeminister ever, a prophet and one who put people first!!
THE LAW IS NOT A SHACKLE!!Maybe Super Dave jus followin PJ advice!!
Investment Tech Says:
April 21, 2008 at 11:30 am WW seems to be working on the transaction records, i am presently not able to see any of transaction in that tab. anyone else with the same problem.balance is correct though
Futures_trader Says:
April 21, 2008 at 11:49 am As the future forecast for these scheems seems to be moving from partly cloudy to overcast with some pretty thickclouds that can leave much people with some serious colateral damage, I would like to suggest that going forward that investors take the advice of the national hurricane center and do due deligence and protect their asset and the lives of their loved ones.Some people could afford to play fool and not board up because they have plenty money to build mmore houses or dem got big insurance. But I know the majority donot have that so please investors , listen to the hurricane warning and protect you property and dont be fool fool because starting over is never easy.
JK Says:
April 21, 2008 at 12:01 pm dont have a scanner to scan the Ad patriciainvestment tech same thing here wid the transaction part
DR Says:
April 21, 2008 at 12:52 pm Futures_trader:-oh boy, will have to heed to your warning……The climate is dangerous.

Do you realise that most of the heads of these clubs live outside of JAmaica? there is no ‘access’ to them.

signs of the times….. Is that the first warning signal? I wonder?

Sorry to drive fear in your hearts…..but I am getting VERY concerned………The money I have invested represents 50% of my portfolio…..crazy I know, but I had to take a chance.
RedP Says:
April 21, 2008 at 12:57 pm Do any of you know what is the criteria neded to upgarde an olint A account to a B account?? Are you required to have a certain amount of funds ie: Trailer load of cash?? I had made a request for upgrade over a month ago but as per usual have yet to receive a reply as to whether it be yea or nay.
Floridan Says:
April 21, 2008 at 1:43 pm Red P… Are you sure moving from an A account to the B account represents an upgrade???In my mind it represents more of an up-RISK… In that, you might get some more interest rewards in the B account, but it also puts you at more risk as well…If I’m not mistaken, your money in the A account is “guaranteed” at 80%… In that, if the funds in that portfolio depletes by 20% to 80%… The 80% is guaranteed.

In the B account, only 50% is “guaranteed”… In tha, if the funds in that portfolio depletes by 50% to 50%… The 50% is guaranteed.

Can someone correct me if I’m wrong with the above info… FYI… I hear they also have a C account… That one have BIG returns, but take BIG risks… In that one, they trade 100% of your funds and it is ALL AT RISK… In that, nothing is guaranteed… If yuh money blow up… A so it go…
Opportunity Says:
April 21, 2008 at 1:45 pm DR,
50% of your portfolio is indeed crazy . Anyway we all hope for the best.
rexton gloudon Says:
April 21, 2008 at 2:25 pm Here is a crazy thought, will someone tell me if it is a possibility or am i mad. Suppose olint traded and suffered some HUGE losses recently and is actually buying time to recover the funds in addition to bolstering their capital base with the new a/c intake? lol. makes sense? hope this is indeed the case as against going down like cashplus.
RedP Says:
April 21, 2008 at 2:42 pm #499 FloridanA ‘C’ account??!! Blouse an skirt!! Where do I sign up!! Seriously though, dont worry, just wanted to kick it up a notch with a small portion in a ‘B’. Just wanted to know if anybody has one what is the minimum amouht required.

On another note, I dont think Carlos have too much to worry about. White collar crime isnt taken very seriously down here. I have an aquaintance who embezzled 8 mil. from an insurance brokerage he managed. This was in ‘95, back then that was nuff corn. He got six months and didnt pay back one penny. But he was white so maybe that made a difference.
RedP
Wan Spec Says:
April 21, 2008 at 3:06 pm Does anyone seriously believe that 80% of your money is guaranteed? Guaranteed by whom? I would go ahead and sign up for the ‘C’ account because that is essentially how I categorize my account anyway. 100 % at risk. I may as well get the higher returns.But this is academic if we caan get wi money!
FuzzyOriginal Says:
April 21, 2008 at 3:33 pm Folks,I have not disappeared. People dont’t worry. You have been dilligent and followed the rules:
1. Invest only what you can afford to loose don’t be greedy
2. Recouped your capital early plus a little bratah
3. Let the house money now work for you
4. Don’t worry sit back relax and enjoy your night sleep.Every market has it ups and down
GetRich… Says:
April 21, 2008 at 3:37 pm #501 I have heard that from several persons. Makes sense…
PEI Says:
April 21, 2008 at 3:38 pm Rexton 501 a poster said we dont know what we dont know and that is true. what you said is not mad. It sound reasonable. The problem is we just dont know. in fact right now any thing can sound mad or reasonable just depends on how you look at it.
chillin Says:
April 21, 2008 at 4:43 pm If MD has last stated that they would have updated there account from the mid of April they have not done so, you cannot get thruogh to there phones, they do not respond to querries, there is no comunication, THIS IS CAUSING PANIC, a know a few people say they are widrawing there money, if everyone starts doing that then the thing a go mash up. THEY NEED TO COMMUNICATE WITH US NOW.
100 %l in investor Says:
April 21, 2008 at 5:03 pm MD investor : I have all confidence that the river will be running smoothly in a couple of DAYS !
Skeem Says:
April 21, 2008 at 5:07 pm Four sentenced in Grenada offshore banking scam (Gleaner article Aug/29/2007)
Skeem Says:
April 21, 2008 at 5:24 pm FREQUENTLY ASKED QUESTIONS ABOUT OFFSHORE
Skeem Says:
April 21, 2008 at 5:27 pm Financial Action Task Force RECOMMENDATIONS ON DUE DILIGENCE PROCEDURES FOR FINANCIAL INSTITUTIONSBASEL COMMITTEE ON BANKING SUPERVISION
Skeem Says:
April 21, 2008 at 5:33 pm BANKING SYSTEMS10 Biggest Offshore Banking Myths Explained(sorry for the multiple posts)
Opportunity Says:
April 21, 2008 at 5:34 pm Skeem,You are the greatest. This blog need people like you. Just pass on the info and that’s it.
DoItUrSelf Says:
April 21, 2008 at 6:01 pm Thanks for the info DR.
InForTheLongHaul Says:
April 21, 2008 at 6:29 pm Rexton Gloudon #501.More speculation.Please guys we really have had enough of that!I refer you all back to Kevin’s post #473. Lets keep the posts informative.
Skeem Says:
April 21, 2008 at 6:38 pm Cash Plus lenders can request information on their individual accounts by writing to:
Cash Plus Ltd (in receivership) PO Box 606, General Post Office, Kingston; or email cpreceiver@cashplusltd.comhttp://www.jamaica-gleaner.com/gleaner/20080421/lead/lead2.html
JK Says:
April 21, 2008 at 7:11 pm wat u guys seh bout a live chat session on WW’s chat room?we can all set a time an we can come an talk ??
Anthony_dundee Says:
April 21, 2008 at 7:12 pm Hi there a quick question; I just linked up with a trader in New York, he is using the oanda platform. He just trades on air st a time, I can see the trades, its a managed acct. Can I mimic his trading on another acct or is that his intellectual property or is it just unethical?
Ronnie Says:
April 21, 2008 at 7:15 pm Kevin # 473Drivah while citing facts that there are “Lawyer, accountant, banker, medical doctor, IT professional, actuary, Tax adviser, unemployed etc” on the blog, it is also important to note studies show smarter people usually fare worse at investing than less smart people. The reason is, smarter people are over confident in their own investing ability while less smart people inherently know they have limited ability and act within their limits. This leads smart people to take out sized risks leading to worse performance.It works like this: If you had a bridge to build, would you hire the brain surgeon that finished top of his or her class? Or if you needed brain surgery, would you hire the engineer that was top of his or her class? Or better, if you needed open heart surgery would you hire the brain surgeon at the top of his class or would you hire the cardiologist who finished middle of his class.?

Smart people tend to be over confident in their abilities believing they are as knowledgeable in areas outside of their area of competence. This is why they often get killed in investing. Just because you are smart in your chosen area does not mean it automatically translates into skill at investing.

I know several doctors, some very prominent lawyers and engineers etc that invested in Cash Plus. Be honest. Looking back, can you believe that anyone could fall for what CH said Cash Plus was doing to generate 10 % per month? But 40,000 did and with many smart persons among that number. Look at HW, do you believe people actually believed that stuff could generate 20 % per month?

Look at the ponzi scheme that Skeem posted at 509. Do you notice the similarity of the principals with CH and MH of C+ and HW? They all have very limited education. These people have difficulty writing a grammatically correct paragraph of English. Yet they were able to con thousands of much “smarter” people and many with multiple University degrees.

This is because these Con Artists are among the best at what they do and that is, conning people out of their money. They depend on and are able to manipulate “smart” people who believe they are too smart to fall for any scam. This is the principle at the core of any scam. There are not enough fools or idiots with money to make a scam worthwhile.

Bloggers may want to keep this in mind the next time you hear that we are all smart people and we knew what we were getting into and we had our eyes open.
Stress now Blessed Says:
April 21, 2008 at 7:28 pm Ronnie,
I don’t think Kevin was trying to say we are too educated or too smart – I think as the “Driva” he was driving home the point to bloggers who keep Jeering the risk that others were willing to take. Bloggers who are so smart yet so insensitive that they do not realize that there are real ppl behind each post.God Bless
Patricia Says:
April 21, 2008 at 7:34 pm Ronnie, what I took from his post is that there are simply no idiots and fools here. I dont think implicit in what he said was that because some here are professionals, that they are also investment experts. He also said people saw an opportunity and took it.I too agree that if it works fine if not so be it.That’s the same approach I took the stock markets/mutual funds/real estate. Some of my losses, not that they were many, came after acting on the advice of licensed investment advisers, experts in their field…DB&G, Mayberry, TD Waterhouse to name and a few.Some of my best info came from everyday people who shared some insights with me. Some even on this blog. Classic eg. was HD’s post on POT on the TSX, earlier this year.

Ronnie your caution is duly noted but you may be reading waaaaay toooo much in to it.

The point is people please be informative, and factually so. I am a firm believer in the power of collective intelligence. Cut down on the speculation, and belittling of folks.
Livin n Babylon Says:
April 21, 2008 at 7:36 pm Okay… had my much awaited communication with my contact. Naturally to most of you, my assurances from a contact, which I can’t reveal, means precious little. All I can say is that it was very positive and the funds will flow. However, we are both concerned that come the end of this May, once funds start moving, that a large number of people are going to demand total withdrawals and put those of us here for the long haul in a similar problem. I think David should make it clear that anyone who does this will not be allowed to… who knows.I also spoke with a contact at Olint, which again means very little to many, but finally they are working on an update communication for all club members. My hope and anticipation is that Olint will join in with this newly founded CCTA in an attempt to provide not securities regulation, which will only cause a compliance nightmare, but more along the lines of a self-regulatory body. Initially I don’t anticipate any self-regulatory body to have any serious influence, however as it matures this should be a wonderful adjunct to any self-styled club or hedge fund operating in the Caribbean that hopes to achieve a respectable measure of trustworthiness.All is well, patience once again wins all.
Patricia Says:
April 21, 2008 at 7:37 pm Please excuse the typos
Stress now Blessed Says:
April 21, 2008 at 7:42 pm LnB
Are you saying that my May 8th date means nothing at this time as they are talking about the end of May?Speak to me.
Livin n Babylon Says:
April 21, 2008 at 7:44 pm Anthony_dundee,This is perfectly legal and ethical, which is why people like myself have so many problems. Special arrangements have to be made with the brokerage to provide people like you an end of day record instead of a real time observation account. I have traders that have unique institutional experience, which they are leveraging to achieve great returns, but how to make this fund operate is very difficult since they (and I) view their decision logic as “property”. When you believe in the value of personal liberty and the right to create property (the labor of your soul – not real estate, which people mistakingly assume), then this becomes a product of intellectual property that should be guarded, but it is the traders duty to protect that property.
Wan Spec Says:
April 21, 2008 at 7:46 pm # 522 – LnB. I had the same report from someone who spoke to DS himself last week. This person is someone I have known for 25+ years, and he has known DS’s family for years.He was assured that operations will return to normal come the end of May.I have a lot more concrete information which I am not a liberty to divulge, which is unfortunate because it is everybody’s business, but if I betray a confidence then the next time I want some info I will be out in the cold.

We need to continue to agitate for transparency and openness. There is no excuse for the unprofessional behavior displayed by these clubs.

A simple audited summary of accounts would betray no secrets, but would put clients minds at ease, and also protect the operators of these clubs. I can’t understand why that is a bad idea.
Livin n Babylon Says:
April 21, 2008 at 7:47 pm SnB my friend,I have to explain it as a “sort of” as it honestly depends on how much the request is for. My low 6 figure request from February 25th will not come nearly that early simply due to the size of the withdrawal. Sorry but I gotta run – Peace to you.
Livin n Babylon Says:
April 21, 2008 at 7:48 pm Wan Spec – I know. It’s difficult because you want to use names etc., but at the same time just remember that the Nay-sayers will disregard it all anyway.
paul h Says:
April 21, 2008 at 7:53 pm Here is an idea. Why don’t we all go to Braemar ave. and demand a straightforward info on the spot or demand a meeting with all the principals involved.We are getting back into a lot of misinformed info and that’s not good.Btw, the four years of psych. I have under my belt taught me to respect the clinical science that psychology is ….that is, that it is definitely ‘not’ gut feeling or common sense. Peace.Seriously let’s plan a date.
Floridan Says:
April 21, 2008 at 8:01 pm “Those who know, don’t speak and those who speak, don’t know”Jackie Chan, The Forbidden Kingdom
Independent Says:
April 21, 2008 at 8:06 pm Livin In BabylonWhere did your “contact” get this information from? Was it DS? You see I see the past mistakes of HW, CP,SC and with all of these the main ‘principal’ was re-assuring people to the very end. I am frankly not convinced. Ask your contact why DS is refusing to provide financial statements.The days of slavery are over, we as black people should demand more, it makes no sense for us to be strung along by the powers at be.
rexton gloudon Says:
April 21, 2008 at 8:17 pm inforthelonghaul, did you ever stop to consider the possibility that maybe rexton has information that you do not? when people expressed doubts that the businesses cashplus was involved could hardly generate the returns touted they were similarly villified. would you rather we all kept quiet until the year 2090? what would you read?
rexton gloudon Says:
April 21, 2008 at 8:19 pm inforthelonghaul, did you ever stop to consider the possibility that maybe rexton has information that you do not? when people expressed doubts that the businesses cashplus was involved could hardly generate the returns touted they were similarly villified. would you rather we all kept quiet until the year 2090? what would you read?
DR Says:
April 21, 2008 at 8:24 pm 529 Paul H.You are lucky you have a place in Jamaica to go to…..The rest of us would have to travel to a far-away land. ouch );

I have learned my lesson; stay away from off-shore unregistered clubs…. NEVER AGAIN!

Slowly, it seems as if the major principals are moving out of JAmaica….communication problems…..hmmmm not a good sign!

Think & Check
DR Says:
April 21, 2008 at 8:25 pm Bounty Killer was stoned in Guyana….. I always knew the gays are powerful! hmmmm
DR Says:
April 21, 2008 at 8:28 pm Harold Brady resigns from CMP board….Why now?The timing…..hmmmhttp://www.radiojamaica.com/content/view/7382/52/
paul h Says:
April 21, 2008 at 8:36 pm Thing is,I’ve been touting the power of the blog have been suggesting a face to face as had happened in the past but until Braemar ave. learns to appreciate the concerns of the clubmembers on whose behalf they operate it will continue as is. As a matter of fact the thinking is after th end of May this will all become a distant memory…until the next time.Sometimes in life ,until we learn from and correct the mistakes we are apt to many repeats.As Tupac said until we start Knocking at the doors we will remain hungry.
Rexton Gloudon Says:
April 21, 2008 at 9:06 pm as someone once said, what you dont know you just dont know.
paul h Says:
April 21, 2008 at 9:07 pm When I came back to Ja.,I encountered problems with the utility companies.When I read the agreement with the OUR on part addressed my complaint.It was about consecutive estimated bills.I filed a complaint everytime I received one.JPS credited my account $1000.00 for each complaint so in short order I went from owing to being owed and issued with a decent credit. Now although there hav ebeen ads placed about the provision of over $100,000,000 to satisfy these complaints to date only about $250,000 has been paid out.People lets manage our affairs.So for those of us in Ja. and going forward those in the diaspora..(overworked term) lets exercise our rights as clubmembers in a constructive way.Can you imagine if we really came up with a credible plan.
JK Says:
April 21, 2008 at 9:28 pm well i can now confirm with a foreigner who involved in WW that them get them money like clock work!!! at the beginning of the month since they been in it since last year thats good!!
Stress now Blessed Says:
April 21, 2008 at 9:31 pm Did anyone get through to MD today?I’ve been unable to get through and I would love to know why gains are still not posted.
mangobeach Says:
April 21, 2008 at 9:37 pm Hi everyone. it’s so good to see that there’s been some form of cathartic dscourse goin on somewhere. My catharsis would be, if someone from may MD would write an entry or two per week on their site to calm my frayed nerves! It seems it would be too much to ask fr even one number to have an informatory, update type message, perhaps changed weekly on it. I have had my frustrations with the big O but, I must say, their commitment to keeping the lines open has been commendable and soothing to my poor unnerved psyche. Due to that and other due diligence that I’ve done,I wait impatiently but confident that all is well.
mangobeach Says:
April 21, 2008 at 9:40 pm Stressed Now Blessed I have had nocommunication for a couple of weeks with them!
RedP Says:
April 21, 2008 at 9:43 pm Skeem, thanks alot for those links.
Stress now Blessed Says:
April 21, 2008 at 9:47 pm Mangobeach – Ive totally convinced myself that the problem with MD is “clueless” management.There are too many steps that MD could take to calm the fears of its members but that would make too much sense.They are IT ppl, but what does IT stand for in their case…. please stop me…
mangobeach Says:
April 21, 2008 at 9:55 pm Stressed I think IT in this case stands impatient tendencies (inducing)
JohnDoe Says:
April 21, 2008 at 10:29 pm Olint Fight for survival continues tomorrow.
http://www.radiojamaica.com/content/view/7395/26
dehustle Says:
April 21, 2008 at 11:36 pm Livin n Babylon@ 522/ Wan Spec@ 526Since you are both seemed to have connections to the ear of DS, please be so kind as to share these few words with him.
Most people have no doubt that O will be alright in the long run “no pun intended “ but come May there are pple who will want to leave not because of DS abilities as a trader but because of his integrity as a business man (and of those who he has left up the day to day running of his business )
When your clients discover that that they are being told a LIE , they begin to wonder what other LIES are being told
O LIES when their CS parrots weeks after week that “No funds are being paid out today “ when in fact its a fren and company disbursement party (this is not a rumor but a fact )As most of you know I have been one of the most loyal supporters of O and had been “keeping the faith but as Ole time pple say” tek sleep and mark death ” and over the past few weeks I have had to ask myself this question if things were to go totally awry at O what system would be used to pay out funds? Would the persons who say have less than 150K, worse less than 50 k or dont have any “contacts ” get back NOTHING while million dollar accounts are paid out in FULL , YES!! More than likely as I am now experiencing first hand how the “champion of the poor operates ‘
Even The snake oil sales man CH had some kind some kind of a seemingly equitable system proposed for payout (even if they were no funds available)
How difficult could it have been for O to implement a system during this period? Say Everyone gets up to first 5/10 K of their withdrawal and mebbe x% thereafter, with some counterbalances in terms of withdrawal dates, maximum withdrawal sum allowed until May, limit frequency, % of total balance…. whatever
I don’t know something… anything other than what obtains now … giving some 100-200 K and some people none or worse who waiting from Jan nothing who ask last week get (this rubbish has been going on for weeks now).

Please Have your “” contacts “remind him that he is no longer trading for his friends and relatives in his bedroom, but is running a billion dollar business with thousand of customers, who now feel their loyalty has been seriously misplaced and should have probably joined in The “Run” and rumor mongering that many of his six figure clients that he loves so dearly have been doing since last November

Signed Stupid Money
dehustle Says:
April 21, 2008 at 11:42 pm Mangobeach
MD is a special kind of liar those anointed with bibleverse (the worst kind )
Unlike O everyone get the the same treatment (shabby)
U will get Ur money ………..eventually
Floridan Says:
April 21, 2008 at 11:57 pm DeHustle… Mi LOVE that talk…Is true, who DS think is him fren is not really him fren… Me a talk bout the top-a-top them… Them just using DS to make their millions and see it deh… Them encash the whole thing and cause pair problem… Meanwhile, is we the likkle man and woman them with our likkle smalls a defend him to the teeth… If him stop and check, is we is him true fren dem, yet him nah deal with us right…From what I know, “old money” always defend “old money” people and while “new money” may even get bigger than some of the old money people, them same old money people is one bag of hypocrite, in that them will laugh and smile and dine with you, but you will never truly be accepted into that group…

DS is obviously new money and the old money people just a use him to make more and more and when them ready, them just draw the whole thing…

Come back to us Dave, low them make them gwaan… We want to make new money too and we will gladly welcome you with open arms into our group… So just come level with us and make us know what really a gwaan… That’s all we ask.

If is lose you lose off some trades, nuh worry bout that, we benefit nuff times so we must expect couple bad trades… A so the business go… But we also know you have the talent to rally back… So if is that really a gwaan, come straight and we will work with you…

But this silence thing from yuh, no sah, it nuh right…
thanks Says:
April 22, 2008 at 12:28 am Who O broker? In his communications he makes reference to trouble with broker. Who is the brokers anone knows?
jordan Says:
April 22, 2008 at 2:36 am @everyone:Been noticing people mentioning that some investors are
being paid “on time” at WW, therefore it means all is well.Well Mr Strachan has lots of friends, and as such his team
allows them back door access. I’ve seen it everytime I go
there (every month).

From what I can tell, the SEEM to be rich or upper class
people. The less fortunate class of people get screwed
week after week, like me. I finally decided to pull out
as I can’t tolerate the crap that goes on there. It might
very well be stable, but I don’t have the time to waste
every month in a long line and no parking space !

Lots of people are pulling out NOT specifically because of FSC
but rather because of the Really horrible service there !
And they keep telling investors that they are working on it
blah, blah,blah, and every month its a newer ‘crap’ policy
in play.

Can anyone confirm that MAY DAISY has crashed ? Heard that
one of the key person was arrested after wiring out
Millions of US dollars to Africa and uttered forged documents
to authorities !!! And please take note, not to pay too much
attention to online balances from these unregulated schemes.

Even if the balance is “correct” does not mean anything IF
you cannot withdraw your money. WW always posted the wrong
amount in my account but after some amount of waiting and
fighting, I usually do get my monthly interest. MY balance
at Cash(-) was always up to date,BUT as you can see, it means
little or nothing now (LOL).

Investors should file a complaint against Cash(-) and Higgins Warner with the police as soon as possible. This will help expedite the recovery of your lost funds. The media reported that the police only received 4 claims so far. This is very bad, as it is sending a message that investors are OK with losing their money !!! THE POLICE WILL ONLY TREAT THE MATTER WITH SERIOUSNESS IF ENOUGH PEOPLE FILE a COMPLAINT. Carlos Hill nor Higgins fellow will never pay back your money unless they are backed into a very dark corner. Don’t wait until its too late again.

FYI: It turns out that Higgins did operate the same pyramid
scheme years ago at the Red Hills Trade Centre (KGN) and ran off
with investors’ money then. Now they did it again from Mobay.

Swisscash seems to be back in business again. Minvestment has
gone completely. A3 union back up, under a new website.

Its a cat and mouse t’ing !!!
unreal_investor Says:
April 22, 2008 at 6:11 am Floridan if I were DS I would ‘rinse’ off all that ‘old money’ before I give it back… Then I would start close off all the trouble maker accounts then stop take members once and for all…but that’s what I would do…
RedP Says:
April 22, 2008 at 6:41 am #526 WanSpec
Talk nuh man, people like myself and Dehustle need some reassurance!!
Signed
Stupid Money II PS Dont worry we wont buss pon yuh, in this situation ‘infahmahs’ are welcome!!
DR Says:
April 22, 2008 at 7:35 am John Doe 547As far as I am concerned, it is just a matter of time before O’s accounts are closed by NCB. Final straw…..1) Unwillingness to file audited/unaudited accounts :-
2) Being an unregistered company:-

The case is very strong in NCB’s favor.

Remember our banks in Jamaica have to meet the procedure for international banking standards. I know for a fact that the international finance market has been pressuring our banks with regards to “clarity”. Think & Check. (KYC)

*************************************************88

Seems like in MD’s case we just have to wait, one day, WE shall overcome….. Don’t know how long we will have to wait… Today is
April 22…..call CS, no response, wrote several emails…no response…. what is going on MD?

JORDAN #552

Yes we know about that matter, but I’ve been informed that Miss Daisy is innocent: the case was thrown out of court. Praise The Lord.
Independent Says:
April 22, 2008 at 8:28 am If anybody would be kind enough to answer, why is Olint unwilling to submit it’s audited financial accounts to NCB?
Dash Says:
April 22, 2008 at 8:32 am 556
Because Olint not a publicly traded institution period.
Dash Says:
April 22, 2008 at 8:34 am Olint is a private company. Legally, they are not required to have an audited financial staement.
Independent Says:
April 22, 2008 at 8:45 am 558 I agree they don’t have to provide it to the PUBLIC, but under the banking act NCB can ask them to provide it to satisfy the Know your customer/anti money laundering requirements.
But leaving that aside,it is obvious the local accounts is important to Olint as they are fighting to keep it open in the courts. Instead of paying lawyer fees and go through bad publicity, why not just simply provide the audits and get it over with?
Wan Spec Says:
April 22, 2008 at 8:49 am # 558 – Dash. That is so wrong. There are several statutes in Jamaica which supports NCBs position.
Wan Spec Says:
April 22, 2008 at 8:58 am # 548 DeHustle – Most of us don’t behave like customers, that is why we don’t get treated like customers. We are prepared to put up with the slackness as long as the money is flowing. I have been part of a group which has sent numerous emails to O. I have even met David on one occasion and we have been always agitating for better customer service and transparency. To be honest, those of us who have been with Olint for a while can testify to the improvement in Customer Service, (remember the old phone system?), but doing things right just does not seem to matter to most people (customers). When things are flowing, they dont care, when things go wrong they rely on a religious type belief that ‘everything still kriss’. That kind of attitude is why the society in general is in the state it’s in. Most of us don’t appreciate the value of doing things the right way.In short, they behave the way they do because it is easier than to do the right thing and they don’t have to, because we Jamaicans really don’t care about things like that.
JohnDoe Says:
April 22, 2008 at 9:09 am “Where is the proof?”….” Folks this is not a game.”Out of respect for the “Driva” and decent discussion, I will ask that we look at the reality, inform ourselves and not attack personalities.“Where is the proof”, The question is asked…

Where is the proof that the UFOs are not a Ponzi/Scams?
Where is the proof that ‘real’ profits are being made?
Where is the proof of the gains from FX tradings?
Where is the proof that your money is really being “invested”?
Where is the proof that 70% withdrew their money Form ‘O’ following the raid?

Let us demand openness, disclosure, transparency and get the proof and end the speculation. It is heart-wrenching to see “investors” coming with excuses, hearsay, a friend said, about the current situation. Until the proof comes,if it does, the time is right to dust off/create a emergency/contingency plan.
Wan Spec Says:
April 22, 2008 at 9:56 am Paul H. When do you want to go to Braemar Ave? Let me know.Obviously some of us have to part of the solution if we want things to change.
DR Says:
April 22, 2008 at 10:03 am Wan Spec:- 563I really don’t want to encourage you to create “a storm” at Braemar because I am not a member of “O”. as you know them say puss no belong inna fowl fight…however….Remember the lady at WW who ask for a cheque (part-payment), she was told that she could not get any until…… then she went for CVM, she got her IMMEDIATELY and she got ALL…and was kicked out…..

You are still luckier than I am, because you have somewhere in JAmaica to go…I would have to travel to that land so far away in order to get my garden of daises. But then again, a group of use would put together and fly a camera man from Jamaica with us, on our journey…..
Patricia Says:
April 22, 2008 at 10:04 am I am hungry can we go to the Buffet?
DR Says:
April 22, 2008 at 10:04 am testing
Opportunity Says:
April 22, 2008 at 10:06 am JohnDoe,Where is the proof to the contrary of all your questions? There is none either. So you are still fueling speculation. It has been said over and over on this blog. We don’t know what we don’t know. I agree with you though that people must always have a back up plan.
RedP Says:
April 22, 2008 at 10:41 am Can anybody answer my question on post #498. What is the criteria to get olint B account?Patricia, you seem to know a fair bit about investing. Were you schooled in banking and finance or are you self taght?? If so where does a duncebat like myself begin?RedP
RedP Says:
April 22, 2008 at 10:48 am Can anybody answer my question on post #498. What is the criteria neede for olint B account??Patricia, you apear to know a fair bit about investing. Were you schooled in banking and finance or self taught? If self taught, what advice can you give a duncebat like myself to get started??RedP
Investment Tech Says:
April 22, 2008 at 10:59 am WW account has been fully updated with both balance and transactions showing the correct amount.finally.hope the dasiy will bloom like wise.
OneJam Says:
April 22, 2008 at 11:00 am Hello Folks,Now in th land of wood & water. My mission if I accept it is as follows:1. Visit O and try to understand the situation. Did a recon yesterday and office was operational, no big crowd, about 10 ppl, seems to be making enquiries, everybody calm and collective.

2. Find out more facts about CP and money.

3. Meet with legal team and start process.

4. Learn more about FX and how to trade.

5. make some US$ to fund my new investments.

Anybody want me to ask questions for them or do anything ? We move out at 05:00 hours in the morning. Request req’d by ASAP.

OneLove JA style
Wan Spec Says:
April 22, 2008 at 11:00 am # 564 – DR – I don’t believe you have to create a storm. I believe that you will be taken far more seriously if this is done in a non-confrontational manner. If you go up there and ‘gwaan bad’ that will be emotionally satisfying, but I don’t think that would ultimately accomplish anything.But as you can see by the underwhelming response to Paul H. most people could care less.
PEI Says:
April 22, 2008 at 11:22 am Wan Spec lot of poster like me are not there. Thanks for going there for us to tell them that we want better service and need the truth about what happening with payments.We need dates they will stick to for us to get payments. We need to get customer service numbers that all members can call like some 1 888 you know toll free numbers. They need to tell us like if you request payment the end of January or february what week you will get your money. Tell them they need to answer emails it is very provoking that they dont.Also please tell them to stop the friend and friend things everybody money make up the club. Please stop the court case them and just use that time and money to sort out the proper running of the club. That money could build a proper site with proper info and 24/7 online chat using skype. please Wan spec tell them the patty shop need to stop. Thanks. and if they not listening then I will call Mr. Perkins even if all him can tell me is to get a lawyer.
Dash Says:
April 22, 2008 at 11:29 am # 560.You show me the statue. I dont know if you are aware of the cost of an audit. If NCB begins to demand audited financial statements from all its business customers, they will completly loss all their customers. Audits are expensive. If you tell me that the statues requires all customers to provide audited financial statement in order to maintain an account, that is a balony.Again, even an audited financial statement cannot give anyone any insight as to DD, viability or other wise truthfull nature of any company. Audits are done on a statistical bases as such, NCB cannot rely on audited financials to prove the truthfull nature of a company.I can understand, If O is trying to get a loan or purchase NCB, then they have a right to demand an audited financial statement. But to maintain account, that is balony. They can request for compilation, reviewed financials but absolutley not an audited financials.
Mercury Vapor Says:
April 22, 2008 at 11:32 am In Post 552 Jordan said: “It turns out that Higgins did operate the same pyramid scheme years ago at the Red Hills Trade Centre (KGN) and ran off with investors’ money then. Now they did it again from Mobay.”Hmmm…that’s interesting. So Max came to Jamaica, started a ponzi scheme, ripped off a lot of people…then, a few years later he comes back again, and does almost the exact same thing, and even more people lose money.Everyone who lost money in HW…PLEASE…PLEASE…go to the police! Don’t let this guy get away with this…because you know that in a few years…he will probably come back here and do the same thing again. Right now, he’s probably running a ponzi scheme somewhere else, most likely in some other developing country, and living well off the investors’ money he stole.
JohnDoe Says:
April 22, 2008 at 11:34 am As we continue to inform ourselves and not attack personalities let us look at the following.“Folks this is not a game”, The statement is made.What kind of Game, are the UFOs playing? Dandy shandy, with the regulators instead of registering?
What kind of Game, are the UFOs playing? Hide and seek, With the Banks instead of coughing up the documents?
What kind of Game, are the UFOs playing? Bingo, with your money when all you getting is “pick a date and wait” ?
What kind of Game, are the UFOs playing? Pictionary, by presenting a sketchy details and allowing the “investors” to keep guessing.

UFOs are playing games with “investors”, when they leave the “investors” …
a) clueless about, how much money they have under management,
b) clueless about, that they do, what they say they do, with your money
c) clueless about, what their fees are?
d) clueless about about the structure & related companies of the UFO

UFOs are playing games with “investors” not account numbers, with the very real people with hard earned cash “invested”, behind the names on the blog. The UFOs are the ones fueling speculation by their lack of disclosure, openness and transparency.

The facts are that the “cashy” & “profitable” UFOs have offered poor customer service/support, employed delay tactics and have fought regulation, disclosure and transparency. It is even in clear in many cases, the UFOs have spun a web of lies of missed disbursement dates, easy streets and unreal returns.

Now who is playing games? is it the detractors or the UFOs? This is what every past, present and future UFO “investor” must ask themselves.
danews Says:
April 22, 2008 at 11:37 am we want to have our cake and eat it.on one hand, we commend some people who can get David Smith, on phone and meet with them, because they are his friend/cousin/uncle/etc yet we cuss when these same people cut a deal for themselves and make sure they get paid first
dehustle Says:
April 22, 2008 at 11:39 am Dash U do have a point
O did offer NCB thier management accounts and they refusde it
I have a company account with NCb and have never been asked to provide audited financials those who do usually are trying to access credit facilities with the bank (which O is not )
please note that NCB ia also using two line of arguments againt O , the audited accounts and the fact that they are not registered with FSC (whichever one they think will work)
Bottom line its more about abuse of power and un fair comptetiion
KYC is just a smoke screen
Opportunity Says:
April 22, 2008 at 11:48 am JohnDoe,
Let’s say I agree with you 100%. So what would you like us all to do? Please give us your advice.
dehustle Says:
April 22, 2008 at 11:50 am danews
I dont know about commending anyone for mere genetic or circumstantial fact that they have access to DS
The fact is if U cant get through to someone you will use any means necessary to send a message/get info
Also please note that DS not only determines payments directly but indirectly , when he has to some extent left up his business to other people who are running thier own show and making him look bad in the long Run
mangobeach Says:
April 22, 2008 at 11:53 am Dehuslte and Jordan you have both made the point about special treatment of friends by people O and WW and I have seen, with my own eyes, what you spoke about but my resolution to this is probably different than either of you or most of the action committee. I propose that we all stay in constant contact with these entities and continue to voice opinions on the better running of their and our affairs but to refrain from large and boisterous gatherings at the mentioned premises as these may get beyond heated and end in very regrettable circumstances and/or actions!I propose that we all partake in a written document that would “clearly” codify our myriad of issues and have it delivered by a chosen group to the other S, namely Wayne Smith. He is usally ther at some point in the afternoon. He can be then asked to read and deliver to his brother and then they can reply via the net and/or in person. Essentially starting the direct dialog we all require at this time.Why this approach over the former? Because it seems to be middle way. The way that best conveys our deep anguish over the issues with clarity and precision without it turning into a TVJ/CVM moment of infamy and ugliness.

I must say there were short moments when I also suffered deep and voracious anger over the situation. As I saw the shortcomings and goings. The inequities of dispersion being paramount of these issues. I was near explosion. What has changed my attitude is what usually changes anybodies demeanor – true calm and objective reflection.

What did I reflect on? Basically everything up to this point that I could compare, in any way, to this scenario. When I looked back I couldn’t remember any situation that I have been in, may it be work, business and even friendship, that was not tinged if not rife with inequities. It is a part of life. I have been and am on both sides of the equation. I have waited at the back of line and been escorted around the back. I think most people, but in particular, Jamaican people have had the same sort of experiences. My experiences go beyond Jamaica though. I’ve seen it New York, Various Florida cities, Alabama, Texas and various cities of Europe. The most important thing I’ve learned though is that there are those of us that without much pesos, dargent, shillings, dough or whatever you call it, somehow find themselves at the front of the line through sheer force of personality.

What I’m saying here is that I’ve experienced this treatment, no probably worse treatment, at the hands of our banks, government and other jamaican institutions for far less gains. I was at Century National And Eagle at their demise, to name a few. When I got the settlement check from those affairs I just left them at my desk for memory’s sake. But I’ve also seen it on other markets as well as I was the holder of a few shares of Worldcom when that went belly up. In all these situations I received scanty or no information from any authority. In fact in the case of Worldcom there were professionals pushing it up to days before it’s sudden ending.

Yes the big O has imperfections but I can’t see how their peccadillos are worse and in some cases as bad as the status quo. They have been mostly up front and even in the cases of deception there seems some mitigating cause. For instance one of the receivers of a large sum is one of the people doing their own invesment scheme and the sum was to alleviate pressure on his clients and at probably the same slight percentage of requested funds.

I keep contrasting the big O and their competitors, including the status quo, and they keep coming to the head of the class. As an example, when I was in Portland the other day I ran into(not literally of course) the Yacht and the big man was in town. I’ve ran into the yacht before but not when the big man was in town so I’d never seen it fully staffed. Well it was a shock to me to see what I saw. All the messages we’ve been fed by this “financial Giant” has told us how he has Jamaica’s best interest at heart. How he wants to see his people prosper. Welll apparently he wants to see them prosper from a distance as nothing non-European was working on board at the time I saw the yacht and enquired of someone knowledgeable to verify. This scene confirmed to me that a lot of garbage that I had been going through at his abnk was probably not inadvertent oversight.

To alleviate my worries about what is going I’ve done lots of investigation and my “due diligence” always seems to balance well with what is said. I’ve heard and seen slight variances with what is said but not enough to worry. My leading philosophy in all this has been that before I invested I did an exhaustive amount of research, and nearly tried my hand at trading, so when I did hand over my funds, I was pretty aware and happy about my decision. I’m now under a lot of financial presuure but I still feel good about my decision and I will suffer some more but I can’t see a very good reason to stray from my decision to invest.

My hope, in the end, is that we deal with this difficult time with as much calm as we can muster so that we can go on and prosper and, most importantly, spread the wealth because Jamaica needs this!!!!!! desperately.
Independent Says:
April 22, 2008 at 11:54 am DashYou still have not answered the question. Why did O simply provide audited financial statements to NCB to avoid all these problems?
You said O offered NCB management accounts what exactly is that?
To my simple mind if they provided audited accounts this would have helped there situation, required legally or not why did they not provide it?
Mercury Vapor Says:
April 22, 2008 at 12:01 pm Someone earlier had asked “Why doesn’t “O” get audited financial statements and submit them to NCB, rather than try to fight them in court with lawyers?”Bwoy, I can just imagine the millions of dollars “O” is spending on lawyers! Anyway, it got me thinking. “O” is in the Turks and Caicos Islands, they are registered there, right? Doesn’t that country have a “FSC” so isn’t “O” regulated by them? If that is so, isn’t “O” providing audited finanical statements to the TCI FSC? Does anyone know anything about this…can anyone shed some light on these questions, thanks.
Dash Says:
April 22, 2008 at 12:06 pm 582I think this is the question that has to be posed to O. All I am saying is that they are not obliged by law to produce audited financial statements to NCB. My take is this, if they produce an audited financial statement, NCB will come up with something else. Again, I beleive that NCB should ask all their Customers to produce audited finacials to be fair. You cannot pick and choose who to demand audited finacials from,.
mangobeach Says:
April 22, 2008 at 12:12 pm Mercury ,They are registered in the TCI and went through the requisite background checks to verify them. You or anyone can see what they went through by calling their “FSC” and look at what the requisites are for incorporation in the TCI.
RedP Says:
April 22, 2008 at 12:15 pm Mangobeach, very well spoken, excellent piece.RedP
danews Says:
April 22, 2008 at 12:16 pm Along with audited statements, goes proof of being tax compliant etc…point being is that if OLint begins to do everything like a bank.. good people for Customer service… Good IT and other infrastructure . being tax compliant, proper audits etc, then all of these will impact on the bottom line. the more Olint act likes the traditional financial institution, the closer will be their interest rates to the traditional institutions !!!.it is a spectrum.. blind trust .. gives him a free hand and produces the highest returns..

more control and transparency, introduce bureaucracy and safeguards but decreases the returns…

we pretty much sure of our money at NCB, but no one is satisfied with their returns !!!
Futures_trader Says:
April 22, 2008 at 12:16 pm IS it possible to get someone with credentials on this blog to set the record straight about Olint and the jamaica banks?Everybody seem to have their own interpretation of the law with regards to olint and the banks.When I formed my company, I opened the bank account with a US bank and all they asked for was the letter of incorporation along with the necessary ID’s of the officers.

I understand that Olint is different because even though they are a private company, they are serving the general public through these banks. As a result, I think the banks should have a vested interest to make sure the company they are doing business with also has the bank interested at heart in case any legalities arise.

like other posters have suggested, I think that Olint is just delaying the inevitable. Either comply, or have your accounts close.

The present environment surrounding these scheems just warrant more transparency going forward.
Independent Says:
April 22, 2008 at 12:16 pm Dash,Whether it is required by law or not is up for debate and they are in the courts. I am simply speaking about a business decision taken by O. If they provided the audits it would have called NCB’s bluff, increase investor confidence and maybe even prevent the run that happened on the company. This just makes no sense to me. It is things like that, why guys like FR may turn out to be right.
Mercury
As far as I know the Turks jurisdiction does not require an audit.and if they did then it makes figuring out O more difficult nbecause if they have one they could have simply turned it over to NCB.
As the days pass and Ii speak to more people my confidence in O is reducing. Something isnt adding up
Stress now Blessed Says:
April 22, 2008 at 12:17 pm People-
Let us reason together…Why is MD allowed to continue its financial relationship with Wachovia without providing what NCB is requesting. Both banks are required under regulation to KYC – it is NOT optional.Could it be that you could KYC without the provision of what NCB is asking O to provide?

Please think and check before you respond!
mangobeach Says:
April 22, 2008 at 12:18 pm Also, I was told by several ppl, that when the premiere of the TCI came to the inaugaration of the OLINT foundation he was said to have asked the interviewer why DS was not as revered here as he is in the TCI. I did not see this interview but i suppose it can b checked. The premiere was also a guest of honor at the OLINT booth at the AirJ jazz fest which I suppose can be contstrued as support fr the big O.
thanks Says:
April 22, 2008 at 12:22 pm this is info regarding frozen funds in the US
http://www.ombwatch.org/article/articleview/3632/1/407?TopicID=2
mangobeach Says:
April 22, 2008 at 12:24 pm REDP, thanks.
DR Says:
April 22, 2008 at 12:24 pm Mercury,O-TCI may be licensed and registered in TCI, but the Jamaica branch O-Jamrock is not licensed or registered in Jamaica….Taht is where the problem is….According to the FSC, “any” investment company seeking Jamaican clients in Jamaica, MUST be registered here in Jamaica. In other words, even if FirtCaribbean has a CI mutual fund in Israel, licened and registered there, registering 50% per annum: If they attempt to solicit funds from Jamaicans in Jamaica, they MUSt be registered with our local FSC. BTW, If you are Jamaican, living here and you have money invested even in Iraq, you should file taxes…..hah haha hahah and if you are a Jamaican living abroad and have money here in Jamaica, you should file returns to the Jamaican government……
********************************************

So in other words, if you live here in Jamaica, you should file returns off your O-Jam account as well as your O-TCI account.
Wan Spec Says:
April 22, 2008 at 12:25 pm # 574 – Dash. I don’t need to prove anything to you. My argument is proven by the actions of the Jamaican courts. Due to the nature of Olint’s business and the fact that they are unregulated, it is not unreasonable for NCB to want to protect themselves against charges of money laundering. Again it goes to the nature of Olint’s business.What you have is the Know your Customer, Anti-Money Laundering legislation on NCB’s side vs the Fair Competition act on Olint’s side. They are all important pieces of legislation and a court will have to look at the conflict and decide how to resolve the conflict while doing the least amount of damage. Most judges are going to say, if Olint had provided the statements and was regulated, then NCB would be out of line. They did not do this, which it would appear reasonable for them to do, so I am going to rule in favor of NCB.Of course NCB has less than honest motives for moving against Olint, but I think Olint’s argument in that regard would have been much stronger had they supplied the accounting statements, which due to the nature of Olint’s business and the ease with which it can cover money laundering, NCB is within their rights to ask for. Had Olint done that, I think the ruling of the courts would have been different.
DR Says:
April 22, 2008 at 12:29 pm 591 MangoBeach:-I think you are referring to this article;http://www.jamaicaobserver.com/news/html/20071203T200000-0500_130017_OBS_OLINT_STARTS_FOUNDATION_WITH_US__M_TO_HELP_NEEDY_JAMAICANS_.asp
Mercury Vapor Says:
April 22, 2008 at 12:31 pm Re: Post 585Thanks Mangobeach…by the way, nice name. I think I’ll make myself useful…I’m going to try to contact the “FSC” in TCI and find out some info on “O”. If I find out anything important, I’ll be sure to share it with the blog family.
Stress now Blessed Says:
April 22, 2008 at 12:33 pm NCB could know the customer without those documents period.NCB should be required to provide substantial evidence that O is in violation of the money laundering act to require same documents. If that is not required of NCB, they could just pick any customer and ask them to provide documents, merely because they feel threatened by that company or just want to know.I don’t blame DS one bit. Show investors document for transparency thats where O/DS is required to show proof, NCB should go to HELL!
Independent Says:
April 22, 2008 at 12:34 pm Mango Beach.To tell the truth I could not care less about the Prime minister of Turks. I am more interested in getting my money back, and knowing why the are not providing the statements to keep there accounts open so they can pay me.
Olint foundation means nothing to me. This could have been another stunt just like CP football league.
mangobeach Says:
April 22, 2008 at 12:39 pm Mercury, you’re welcomed and thanks.
mangobeach Says:
April 22, 2008 at 12:47 pm Indie, if you want your money quickly it seems the best way would be for you to open a TCI account with OLINTTCI. This way seems to have expedited funds for some. The drawback is, as far as I know, a bit less of a monthly return. But then u aren’t worried about that are you as seem ready to clse down shop?
Mercury Vapor Says:
April 22, 2008 at 12:47 pm WHAT!!! THAT IS MAX!!! The tiefing Max from HW!!! That’s what he looks like! I can’t believe it!http://www.higginswarner.comHis picture is on this page…his name is Sir Max H…!Hahaha…Sir…that’s a good one!

I didn’t invest any money with HW, and I was never interested in investing any money with HW, so I just found this website. (I googled “Sir Max Higgins”). Here are some more pictures of this con artist!

http://callezero.blogspot.com/2007/11/el-gran-sir-max-higgins.html

The pictures really shocked me, I always thought Sir Max H… was a white guy. I guess when I heard Sir I just pictured an english guy in my head. And oh, by the way, who made him a knight? Hahaha…this is so crazy!
Bless Says:
April 22, 2008 at 12:50 pm I just want to say ” What is the purpose of a audited statement is a extremely volatile situation?” I gave you a audited statement but the audit statement does not worth zip a day later because of the volatility of the market, one minute you are a millionaire the next minute you are a pauper.So what exactly does NCB wants? They have pressure FSC and the court to accept forex trading as a security, The only place in the world where it falls under such category. What is it secure against?According to NCB Olint is not a registered company but were they ever registered? They are doing business with them for 5 years unregistered so that agrument dont carry water.

You guys should find out why the USA and the rest of the world place forex under the category futures and not security which was what David Smith was saying. You are dabling with probabilties (trends) so how can it be security?

Where in the world can you buy a security that potentially can become value of zero and neither the company nor the market have not gone into bankruptcy, only JA.

Let see if WW will get a license How many months now that they have applied and there are allegedly 20 forex companies out there and FSC has taken how many months to say yes or no to one so

According a someone another blog the “inner circle” in JA knew of Carlos Hill conviction from around October 2006 so does that imply that NCB top brass knew from then, judging from what the person blogging there is a link there, family?.

Doesn’t the Top brass of NCB falls into the “inner circle”?

Was that the reason why the cambio ran by Cash Plus closed?

And they care so much for poor people?
DR Says:
April 22, 2008 at 1:00 pm Finally, we know what MAX looks like.
Independent Says:
April 22, 2008 at 1:06 pm Bless, Your arguments to me makes no sense. Securities or not WHY HASNT DAVID SMITH PRODUCED THE AUDITS. If that what it takes to pay back people then so be it. I dont care about technicalities, the fact is I have rewuested my money from Mid January and since then I have been getting excuses and seen money been wasted on law suits. If he needs to be registered then he should get registered, if he needs to provide an audit then provide the damn audit.
Mercury Vapor Says:
April 22, 2008 at 1:07 pm HAHAHAHAHAAAAAA!!!! On the website it says:“Higgins Warner Music and Entertainment Corporation. Invest a minimum of 1 Million U.S. Dollars for excellent returns! Please Contact Emile Max Higgins, President & CEO”Hahahaha…invest a minimum of 1 million with Max! Hahahaha…who the hell would invest that…with him…hahaha…I mean, how much crack would I need to smoke for that to sound good to me! Hahaha…no, mi a laugh too hard, mi a go dead! Yow, mi gone, mi have to go take a break, mi a laugh too much!
Stress now Blessed Says:
April 22, 2008 at 1:13 pm Amen Blessed! Amen! Amen! Amen!I am in no way tolerating the foolish management of “O” but the NCB argument is RUBBISH! DS is a rebel without a cause – A the same ppl cause that him fighting – the same ppl a tell him to comply – comply with what?Jamaican Govt -never ever show compassion for or has been had accountability to consumers/citizens. A country of LAWLESSNESS-and when you stand for NOTHING – YOU FALL FOR ANYTHING.

Banks can charge any fees they feel like, when they like, to whom the like – WHERE is the regulatory body FOR THE PEOPLE BY THE PEOPLE? Being bought.

The Jamaican Govt., Judge, DA, Prime Minister are all FOR SALE!

and it doesn’t take much for a Billionaire to buy them.

NUFF SAID… Mi mad medication don’t kick in yet.
Independent Says:
April 22, 2008 at 1:20 pm Stressed Now Blessed.If DS wants to be a rebel he can if he wants, but not with my money and not with the countless of people who are waiting for there money. If investors are given the choice between being a rebel but having no money or complying and having money i would choose the latter.
So stop telling me rubbish about being a rebel. If i sound frustrated , hell yes I am Jan 18 I requested my money, we are now in April, and now i am being told May or end of June
Bubbler Says:
April 22, 2008 at 1:31 pm Seem like there is a lot of good back and forth arguments about this Olint thing. Looks like there can only be one logical conclusion about the thing iya. But as usual the “P” word is not politically correct to use in polite company.All the arguments is like someone have a pole and trying to put up a fence. But the hole too small for the pole. If it wont fit, you got to quit. Find another hole that fit the pole and complete the fence. Stop trying to make the arguments fit, accept the logical conclusion of the arguments and deal with it.
RedP Says:
April 22, 2008 at 1:36 pm #609 IndependantI know the frustration my brother. I am in dire need of some funds, but wah fi do, it doesnt make sense to let your blood pressure raise. I know exactly what your going through as do a lot of other folks on this blog.
It does no good to frustrate yourself. I did and it really started to bother me. I just had to let it go man. Hope you can do the same.BTW I put in for two low 5 figure encashments in early march, they told me late to mid may. If you dont mind me asking, what is approx figure that you have put in for why you have been waiting from Jan.?

RedP
Stress now Blessed Says:
April 22, 2008 at 1:41 pm Independent-
Mi understand your frustration – don’t think I’m saying we shouldnt demand our money form DS. I’m in MD and I have been waiting for my daisies since February.Independent all I’m saying is this is two different fights! NCB has nothing to do with O not paying out.Do we need to demand getting our money from O, sure we do. I have money in Olint just like you and cant afford to lose it.

But NCB is putting a wrench in O’s ability to prosper as a club. Thats all I’m saying – now why you think that is rubbish?
Independent Says:
April 22, 2008 at 1:53 pm Red P thanks. It is funny I am getting frustrated while i am a psychologist. LOL But it is frustrating to have my money tied up and also to see the frustrations of people entering my office to discuss this very issue.Stressed Now Blessed
I am sorry for calling it rubbish, but if NCB closes Olints accounts it would be more difficult for us to get our money. Olint would have to send us individual wires which all will be routed through the US. This can be a nightmare.
Is NCB putting a wrench in Olint? Maybe or maybe not. My brother is a banker and as far as is being explained to me NCB’s demands are not unreasonable. He also stated that if O local accounts are closed payments will be difficult.
Now knowing this DS could bite his tongue and provide the information for the sake of investors. If he wants to fight the “system” DO NOT DO IT WITH MY MONEY
As far as I am concerned the reasons for non payment are not adding upRed P I requested in the 40 thousand range
mangobeach Says:
April 22, 2008 at 1:54 pm btw – re auditted statements, financial reports et al, getting money from olint has no correlation with the NCB issue at this time. The issue is between international institutions running the trading platforms and O/WW. As I have heard it explained, because of the run, over US600M was moved btwn Dec and March causing flags to be raised and higher compliance requirements to be requested.This also caused great problems with their brokers(the institutions running the platforms) and endangered their relationship with them. To retain the services of their brokers, who traders need, they had to slow to a crawl everything related to disbursement. This is the cause as I understand it of the woes.The problems with NCB and, the other banks by extension, will only affect speed of disbursement as they hold onto wires and checks for inordinate time periods but not amounts or disbursal of any.

Eventually the issue with the banks will play out in O being physically in JA or not and that is the issue. If they have to withdraw from JA they will become another MD in their setup being that you will only get them via the net or phone.
mangobeach Says:
April 22, 2008 at 2:00 pm Indie pschologist are ppl too!! we all feel your pain. I have ppl waiting for me to rescue them from mortgage forfeiture and homelessness. close relations they are.
jk Says:
April 22, 2008 at 2:30 pm unnu understand the WW transaction part in the account
Independent Says:
April 22, 2008 at 2:34 pm Mango Beach ..Thanks yes we are supposed to be humans also LOLI have another question. Now this does not add up to me and my brother who is in banking( and has told me from day one that Olint is a Ponzi Scheme)says there explanation is rubbish.They say that DD is being done but as I understand it the most stringent part of DD is on the incoming money as opposed to the outgoing. This is why once money gets into the system it is hard to prevent it from being moved around. Now how come O’s DD is only on the outgoing funds but if Iwant to send money in there is no problem? This makes no sense to me. According to my brother if the account was under suspicion they would freeze both the incoming and the outgoing.
Now is he simply just stating this DD to get new money? As I said before my faith in this org is running lower day by day.
HD Says:
April 22, 2008 at 2:38 pm Bronxny #385 I like that one UUU.TO
HD Says:
April 22, 2008 at 2:42 pm I got some of this one this morning …IPI
danews Says:
April 22, 2008 at 2:49 pm We have till the end of May to see if Olint will pay…but what we see, is that the ‘normal’ posters are sounding like FR with every passing day …everybody is demanding answers, before there was talk of if you cannot take the heat, get out of the kitchen… or let them close who want get back them money and don’t let them back in..

but with every day.. others seemingly would just want back their money…

but I guess this is the world of HYIP..

where you can win big..and lose big…

this is the true test of if you should be here
Futures_trader Says:
April 22, 2008 at 3:19 pm I hope and pray that each investor get some or all their money back.I have no money in any of these schemes and maybe it was God’s work because my wife and I was going to put 50000 US dollars in olint but other stuff came up.I am going to make this post my last and will check back in June to see how things turn out.

“be not dismayed whate’er betide, God will take care of you”
mangobeach Says:
April 22, 2008 at 3:19 pm Indie, as far as I know when you send funds you now have to send proof of legitimacy ie, loan sheet, bank statement. also your funds are moved around some to to trade and these requirements can be enforced at each stop.
mangobeach Says:
April 22, 2008 at 3:24 pm Danews, this is exactly right. When I opened any account for trading or investing, in particular NCB, they ask you fill out some kind of profiling document. It is to see how much risk you are willing to cope with. This type of inveswtment is considered on the riskier side and to know that you must steel yourself for the worst. I don’t think this is going to turn out bad but the stress till it works out is the real issue. I’m good most of the time but some nights sleeping is bad.
Stress now Blessed Says:
April 22, 2008 at 3:54 pm MD members to check out announcemntsMD apologize AGAIN. Final phase of DD should end tomorrow. JOKE!!!
JohnDoe Says:
April 22, 2008 at 4:03 pm Olint has received an extension until Next Wednesday. I call for calm among “investors” in UFOs. I also beg “investors”, DO NOT PUT ANYMORE MONEY INTO THESE SCHEMES. Do not let people call you cowards for thinking outside the box.I see on another forum(highyeildsource), it seems investors are doing just that. So while you can’t get your money, allegations are rife that the big men are being paid and latest victims are being reeled in.
Livin N Babylon Says:
April 22, 2008 at 4:42 pm Stressed Now Blessed – For what it’s worth let me help you on the securities argument. Forex is not a security in of itself. You’re right it is a commodity because it’s cash. Clearly it’s not a futures derivative, because we don’t care what the Yen is in Dec. 08 if we’re trading the “spot” or now price on April 22, 2008.Here’s where all this gets mucky, the “security” is found in the arrangement between the investor and the trader or company. Depending upon how people piggyback into these funds/clubs, they could all be accused of dealing or “offering” an unregistered security – not because the forex market is a security (like a stock), but because of the offering between two parties. If the arrangement is not a loan, then you are taking customer dollars for a collective enterprise with the anticipation of passive profits by the investor – that anticipation of profit without labor is a securities contract.What ticks me off here is that in reading the initial suit against Olint, there is nothing in the Ja-law to suggest that Forex trading is covered by the FSC. However, they went after DS using ALL Babylon case law to show the “intent” of the Ja-law. Now that makes a whole lot of sense! Well in the US this is what this word means – so I guess it’s true in our country – what!?. Why not say, “Mr. Smith, we strongly advise that you change your business operations, because we are going to change our legislation to address this growing concern in Jamaica and no companies will be grandfathered under this new law. With that, case dismissed you are free to go.”
Mercury Vapor Says:
April 22, 2008 at 4:47 pm I don’t see why all the doom and gloom from everyone. I was paranoid last week…and really paranoid the week before that…but I’m fairly cool now. Why? Well, haven’t we gotten some good news.MD has paid some people…that’s good. “O” has been paying some people some of their requests…that’s good too. I know there are a lot of people waiting on their “daisies” but it looks like you will be paid eventually. At this point no one knows when…it might be weeks…or months away…but that is better than not getting paid at all. As for “O” investors, at least “O” is paying…suppose for a moment that “O” was not paying anybody…suppose that absolutely no one was paid anything since January! Now that would be complete disaster! That hasn’t happened, so just keep cool and hang in there. I think your money will come eventually.As for MD investors, again I know is nuff people waiting…but a few have gotten paid, and you will probably get paid too. I would be worrying if no one got paid…then the website shut down…then you call the phone numbers and hear it disconnected! But that hasn’t happened…plus, didin’t someone say that the case against the MD lady in Africa was dropped. That’s good news, isn’t it?

Stop all this doom and gloom man…relax…some of you guys should probably take a break from reading the blog, seems it giving some people high blood pressure. And I sure don’t want anyone to drop dead from nuh heart attack! Take it easy, this week has been a better week with regards to the clubs, so try to relax. I know things are not too good now, but trust me, they could be much much worse.

Peace
Stress now Blessed Says:
April 22, 2008 at 4:51 pm LnB
Thanks for the clarification – I think you were addressing “Bless” @ #603On another note MD post another apology – did you see it?
Mercury Vapor Says:
April 22, 2008 at 5:20 pm Re: Post 631Yeah man, mi cool off. I had a nice weekend, and now reading the blog, there hasn’t been any bad news really. Everyone start back again wid dem speculation on “O”…some for…some against. I don’t see the point, we’ve been over all that stuff before, why go over it again. Anyway, what’s been going on with the clubs has been a little bit more encouraging. Hey, at least MD and O paying something, right? There is still hope!
Patricia Says:
April 22, 2008 at 5:29 pm “Investors”, the sad thing and arguable the wicked thing is, there are those among you, often the loudest defenders/supporters, that knew all along it was a scam and had “connections”.They got in early, rode on the backs of other vulnerable “investors”, and have walked away happily with their returns leaving the stragglers some holding an empty bag and others wondering what is happening with Daises and Lint. There is little that can be said that is positive about scam.YES JOHNDOE, so sad, like your bff FR ,your kindred “detractor” who said he knew Olint was a scam when he joined, made his money and left only a little bit so he could continue to get the silly emails. Just like his “connections”, the “smart money” people who knew when to get out…

JohnDoe help us the stupid money people sipping on our tea thinking we are engaged in intellectual discussions (as I type I am bursting with laughter hahaha)about our “investments” whilst being privy to insder information as we urge other posters to only post factual information…aaahhh you guys really crack me up.

If u folks are so inclined you should wander over to cashplusinvestment.com where JohnDoe and the sage ones hang out all day pontificating on the plight and soon to come demise of us stupid money people….they really crack me up..LOL!!!!
Patricia Says:
April 22, 2008 at 5:32 pm wait, some clutter has been swept out
CS Says:
April 22, 2008 at 6:07 pm Any word on the ‘O’ case today? I trying to listen radio, but all i am hearing is Bruce talking.
dehustle Says:
April 22, 2008 at 6:10 pm Pat
Actually the “clutter” is moving from blog to blog like rolling calf (I mean stone)
OH My Arent we busy Looks like a full time job to meLOOK! its a bird its a plane No ! it SuperSmartinvestor leaping blogs in a single bound here to save foolish investors from themselvesNow If I could just find some kryptonite…..
pete Says:
April 22, 2008 at 6:20 pm Stress now Blessed SaysI still cannot access the MD site I received a call from their office over a week and a half ago requesting additional document which was sent off the next day we did not receive a conformation so we sent it 4 more time to the email box stated. I tried calling still receiving no answers. I would like to know what the new communication is saying
dehustle Says:
April 22, 2008 at 6:28 pm Pete
More lies excuses delays appropriately anointed in bible verses (of course)
Basically they should complete their interned DD with pple like yourself by tomorrow (right) as this was in the way (of course) of posting gains which will be done by this weekend (again)Tomorrow never comes
Stress now Blessed Says:
April 22, 2008 at 6:31 pm Pete it is apologizing for not updating the accounts as was promised. They claim they are dealing with inquiries from members whose account status changed ( I guess you are one of them. They claim that their DD will be done by tomorrow and gains will be updated by the end of the week.My friend was locked out and they provided an area for her to upload the photo ID which they say was not clear. Once she did that, she got a message that said, we will update you account once the information is verified. Did you not get the option to upload?I have also sent them wire information because they claim they cannot cut a check for the amount I have asked for and I am unable to verify if they have received information to wire amount into my account. It is not reflecting in my account so I don’t know. MD just make up the rules as they go along.

I called all day today and I was unable to get a representative.
Lisa Says:
April 22, 2008 at 6:35 pm Hi
Does anyone have any investment with ips i’m just checking. it seems as if they are asking clients to open offshore accounts as well i saw the name of the proposed bank on otci website it looks like some sort of transfer to said bank. can anyone shed some light
thanks
thanks Says:
April 22, 2008 at 7:00 pm I received my money from lewfam today. Things seem to be back on track.
pete Says:
April 22, 2008 at 7:01 pm Stress now BlessedThanks for your help people like yourself is truly what this site is suppose to be about each person helps the other go through not tearing the other down for self gratification.I also so the area to upload your personal info I did that also was told to I would receive a response soon that was also last week.
Lisa Says:
April 22, 2008 at 7:14 pm stressed now blessed also calmed my frayed nerves,s/he rocks!!! as my daughter would say.
overchill Says:
April 22, 2008 at 7:18 pm Debit card cloning is alive and well in JA, be careful people.
Pip Unit Says:
April 22, 2008 at 7:46 pm Does anyone know if “O’s” lawyers did this?“The injunction remains in effect until next week Tuesday when Olint’s lawyers will apply to have the injunction extended. Olint is also appealing the judge’s ruling.”http://www.jamaica-gleaner.com/gleaner/20080419/business/business2.html
Pip Unit Says:
April 22, 2008 at 7:49 pm Anyone have any updates on Lewfam? Has anyone received any money recently? I was told they were supposed to get money from the “trader” today so they would be able to start filling encashment request.
DH Says:
April 22, 2008 at 9:07 pm Lisa what is IPS
wait a minute Says:
April 22, 2008 at 9:30 pm Just some additional info on MD , if you’re unable to access your account and you have the screen advising you to upload the docs required ,after doing so please e-mail them the requested information also to the gmail address, I upload my info last week Thur. and still did not have accesss then I decided to e-mail them on Sunday night and low and behold on Monday morning I received a e-mail from them advising that my account was now activated.
Also if you’re not able to get thru to c/s and your account is inactive, it seems e-mail has been working for a few people,so give that option a try.
dehustle Says:
April 22, 2008 at 9:44 pm See latest today on O/nCB
http://www.radiojamaica.com/component/option,com_news_portal/Itemid,75/
Wan Spec Says:
April 22, 2008 at 9:57 pm Some information on Higgins Warner.http://blog.mousekingdom.com/2007/12/24/walt-disney-mundo-building-park-in-argentina/Might be old news to some people, but to some people it might not be.
Independent Says:
April 22, 2008 at 10:00 pm Bwoy I do not know, but it dont look good for OTuesday, April 22, 2008
Summary of Supreme Court Decision – Olint v. NCB (April 18, 200 Click here – Supreme Court Judgement in full

On April 18, 2008, Supreme Court Judge the Honourable Mr Justice Roy Jones delivered his decision on an application by Olint Corp. Limited (Olint) to restrain National Commercial Bank Jamaica Limited (NCB) from closing Olint’s three accounts with NCB. The Judge refused to continue the injunction against NCB and reasoned that none of the claims Olint was making against NCB had any real merit.

The judge started his decision with an analogy to the South Sea company in the UK which published claims of great success to entice investors. It was claimed that the company was carrying out an undertaking of great advantage but nobody knew what it was. The share price moved from £128 to £1080 in six months before events unfolded to what is euphemistically called the “South Sea Bubble”. The Judge then noted that Olint “is widely reported in the public media to be involved in what is said to be the lucrative business of foreign currency trading, but no one knows for sure.”

The Judge observed that the primary concern raised by NCB was the failure of Olint to provide Know Your Customer (KYC) information, in particular audited financial statements that the Bank of Jamaica Guidance Notes specifically required that banks obtain from corporate customers, failing which the banks were to “lawfully terminate” the banking relationships. The Judge also said: “A bank’s knowledge of its customers and the source of funds placed with it, is [sic.] after all, an important step towards transparency and affect its ability to establish compliance under the Proceeds of Crime Act 2007. This has become an important requirement in what has become the hazardous business of banking.”

One of Olint’s contentions was that there was a fiduciary relationship between Olint and NCB. That relationship would have placed on NCB the special obligations associated with being a fiduciary or trustee. The Court found that for such duties to arise, there had to be a special relationship between the bank and its customer, and there was no such special relationship between NCB and Olint. Instead, the relationship was governed simply by a contract under which Olint deposited money with NCB, and it was clear that NCB had acted lawfully under the contract and the Banking Act.

The Judge also found Olint’s claim that NCB was acting out of concern for the alleged competition from Olint to be “a curious claim as [Olint] has not admitted to competing with [NCB] in the securities or banking business. The main contention of [Olint] is that it is a private member’s club involved in customer service and is not engaged in trading activities.” The Judge considered the reasons given by NCB for giving notice to close Olint’s accounts and noted communications from one correspondent bank overseas with which NCB does business (Bank of New York Mellon) in which the correspondent bank expressed its concerns about Olint, its expectation that the US federal authorities would in due course investigate Olint and its desire that NCB not send any further transactions on behalf of Olint for processing by the correspondent bank. The Judge observed that Olint could not compensate NCB for the risk NCB faced if the relationships with overseas correspondent banks were damaged by NCB being forced to keep the accounts open.

Olint’s second basis for its claim was alleged breaches of the Fair Competition Act. The Judge found those allegations to be baseless because NCB does not occupy a dominant position and is not interconnected with the other banks who are its competitors. He went on to find that the documentary evidence presented by Olint contradicted the suggestion by Olint that the banks were acting in collusion against it.

Third, Olint alleged that NCB’s actions were intimidatory, threatened Olint’s contracts with its customers and threatened unlawfully to cause losses to Olint. However, the Judge concluded that NCB had acted lawfully, given (a) the implied term in all contracts between banks and customers that the relationships can be terminated with reasonable notice and (b) NCB’s obligation in this case to terminate the relationship with Olint due to Olint’s failure to provide its audited financial statements. NCB had given Olint one month’s notice to close the accounts. Olint had indicated to NCB that it wished to have until March 14, 2008, but NCB was not satisfied with the justification given for the additional time and instead gave an extension to two months, which expired on January 14, 2008.

The Judge also considered the risk of injustice to NCB from the continuation of the injunction to be greater than any risk of injustice to Olint. This, the Judge reasoned, was because keeping the accounts open invited non-compliance with KYC provisions under the Bank of Jamaica Guidance Notes, when Olint could easily have prevented this by complying with NCB’s request.

The judgment is being appealed by Olint. In that appeal, NCB will also be contending that the extension of the injunction was correctly refused given Olint’s breach of its duty to the Court when it initially obtained the injunction without prior notice to NCB. According to NCB, Olint breached its duty by failing to disclose relevant information to the Court as required by law.
Independent Says:
April 22, 2008 at 10:03 pm Olint should stop waste our money on these foolish lawsuits. I t does not take a lawyer to realise they have no case, they should have just provided the information needed. To tell the truth it is looking like what my brother was telling me is correct. What exactly does Olint have to hide?
dehustle Says:
April 22, 2008 at 10:05 pm Independent @ 647 (& yes I agree )
But FYI
Your link refers to Fridays April 18 court proceedings
Todays proceedings (the 22nd) are linked @post 645
Stress now Blessed Says:
April 22, 2008 at 10:20 pm dehustle check your email.
Wan Spec Says:
April 22, 2008 at 10:20 pm This makes very interesting reading;http://www.jncb.com/docs/Olint_v_NCB_-_Judgment_in_Interpartes_Hearing.pdfThe actual judgment issued by the court. Keep in mind that the Court of Appeal will not consider new arguments, os this is essentially the same arguments which will be made next week.

Seems like Olint has a deep hole to climb out of.
Wan Spec Says:
April 22, 2008 at 10:37 pm Dash; here is your answer;The Defendant (NCB) is licensed under the Banking Act to operate a commercial bank, and that Act provides that the Bank of Jamaica is responsible for the supervision of banks. The Bank of Jamaica has issued Guidance Notes to commercial banks for the detection and prevention of money laundering and terrorist financing activities. In the introduction to the Guidance Notes, the Bank of Jamaica states that:“failure to comply with these Notes could expose the Financial Institution to prosecution under the Money Laundering Act or Regulations, or to prosecution under the Terrorism Prevention Act as well as to regulatory action by the Bank of Jamaica….in the bank’s view a court would have regard to these Guidance Notes to determine the appropriateness of the AML and CFT measures adopted by the financial institution. The Attorney General’s Chambers has also issued an opinion on the import and effect of this clause which confirms that [regulation 3(3) of the
Money Laundering Regulations 1998] makes compliance with these Guidance Notes compulsory”.

The Guidance Notes expressly require banks to “ensure that they obtain” audited financial statements of companies which have been incorporated for more than 18 months. The Claimant (Olint) was incorporated on October 13, 2005, and as at the date of the Defendant’s (NCB) written requests for documents (August 8, 2007) had been incorporated for more than 18 months. Note 50(e) of the Guidance Notes therefore not only allowed, but required, that the Defendant obtain audited financial statements from the Claimant.
Wan Spec Says:
April 22, 2008 at 10:39 pm Here is why NCB can act even after having Olint’s account for all this time;Note 45 of the Guidance Notes provides that “any business relationship that has already commenced should be legally terminated (unless otherwise advised by law enforcement authorities) if the customer fails to provide requested follow up information or if any other verification problems arise which cannot be resolved”.
jordan Says:
April 22, 2008 at 10:41 pm Hey, shouldn’t we get a month’s additional interest payment for
the DD delays from MD / Olint and any other Clubs ????DD does not cause the investors money to be held by the
. Hence our monies are still being traded up until
the actual payout moment. Yes ???
Wan Spec Says:
April 22, 2008 at 10:41 pm The prognosis for Olint;However churlish the Claimant (OLINT) may feel about the Defendant’s (NCB) reliance upon the “Know your Customer Guidelines” (KYC) and “Due Diligence” (DD) provisions under the “Bank of Jamaica Guidance Notes on the Detection and Prevention of Money Laundering and Terrorist Financing Activities” the right of a bank to decide who to do business with cannot be seriously challenged. A bank’s knowledge of its customers and the source of funds placed on deposit with it, is after all, an important step towards transparency and affect its ability to establish compliance under the Proceeds of Crime Act 2007. This has become an important requirement in what has become the hazardous business of banking. In my judgment, the Defendant by taking steps to terminate the Claimant’s accounts either as a matter of contract or as required by the “Know your Customer Guidelines” (KYC) and “Due Diligence” (DD) provisions, referred to above, acted lawfully and within the terms of the banker customer relationship and cannot be in breach of its contract with the customer or of the Banking Act. As there is a complete lack of useful disclosure by the Claimant as required, there is no serious issue to be tried, nor is there any assurance whatsoever, that the Claimant can succeed at a trial on this issue.
JohnDoe Says:
April 22, 2008 at 10:46 pm Good Posts Indenpendent & WanSpec. I hope everyone read the documents“Hiding the truth won’t change it”
Wan Spec Says:
April 22, 2008 at 10:51 pm This is exactly what I said in my previous post # 595.Finally, in my (the judge’s) judgment, the risk of injustice to the Claimant (OLINT) if this injunction granted on January 11, 2008, is not extended does not effectively offset the risk of injustice to the Defendant (NCB) if it is extended until the trial of this matter. The risk of injustice to the Defendant is greater than to the Claimant if the injunction is extended as to keep the accounts open is to invite non-compliance with the “Know your Customer Guidelines” (KYC) and “Due Diligence” (DD) provisions under the “Bank of Jamaica Guidance Notes on the Detection and Prevention of Money Laundering and Terrorist Financing Activities”. On the Claimant’s part, it is easy to avoid injustice: comply with the request.
Wan Spec Says:
April 22, 2008 at 10:56 pm You guys should read that original document. There is a lot of information in there about Olint’s activities, especially about the balances in its US$ accounts over a period of time.http://www.jncb.com/docs/Olint_v_NCB_-_Judgment_in_Interpartes_Hearing.pdfKevin, you should consider downloading the PDF and making it a sticky. There are no copyright issues as this is a public court document.
Bless Says:
April 22, 2008 at 11:00 pm Well, Independent no need note to bite off my head, I sincerely hope that you will obtain your money from DS so that you can sleep well at night.All I was saying is that in this cobalt mine things are not as they seems to be.LNB
Why is forex trading under commodities and Futures, and a different regulatory body was set up for it in the USA and the rest of the world (even little Antigua)?

Judging from what you are saying horse racing (gambling) could be classified as security according to JA definition. They are taking money from the public, there is a contract (slip of paper that is given), there are odds (projection of increase) and I can earn substantially without labour.

In mathematics we dispute a hypothesis by looking at the laws and finding cases that where it does not hold true, thus I cannot see how forex trading is a security but horse racing is not, using you explanation above, So enlightened me.

People are asking why Olint does want forex trading to be rank as security, have they research why USA place in in a different category?

DS had forward agruments that forex trading should be place in commodities and futures rank (as world standard – de facto) and it should be regulated as such in JA. so Olint could be regulated in JA.

The government (Shaw) even came out with a grand annoucement that they were considering put it under the commodities and futures and they might have to get people coming down from USA to help set up the regulatory body then a BIG DEAFENING SILENCE, everything just die just like that. I guess the BIG MAN bout here dont agree.

As for the closing of Olint NCB account it will be a pain for the clients in Ja to obtain their money, it can take up to 45 days to cash a cheque that is why the NCB account is important to the JA clients.

Wiring money is expensive, so people in Olint will now have to be better planners and they might loss a month interest because they will have taken their money a month early (big withdrawals). You must become proactive asuming that the accounts are closed how is it going to affect you.
Realist Says:
April 22, 2008 at 11:04 pm See it deh! Plenty people love these UFOs not just for the high yields, but also because lack of controls make them perfect vehicles for rinsing money.Why should the banks put themselves at risk with these entities?
Wan Spec Says:
April 22, 2008 at 11:22 pm Ok, now this is my own personal opinion. There is something in the judgment which would support Olint’s contention of a due diligence, that would be Mellon’s warning to NCB about an impending US federal investigation of OLINT. The timing and scope of what Olint is now claiming they are dealing with would seem to coincide with what Mellon warned NCB about. That has implications for US persons who are members of Olint. (Do the right thing and do it now!)My other point was that I found it interesting that the judge led off with the South Sea Company Investment experience, because it sums up the real issue with Olint. We really don’t know what is going on at olint. As much as we on this board might like to bluster, in the real world, you have to follow the rules (transparency) or there are consequences.Consider this. If there was transparency into Olints operations, there may not have been three runs in three years. It is more than likely therefore that this whole due diligence issue may never have risen, and people would be getting their money as they needed it today. The reason for all these runs is the uncertainty that Olint’s customers feel, BECAUSE THERE IS NO INDEPENDENT CONFIRMATION ABOUT WHAT IT IS THAT OLINT IS ACTUALLY DOING.

Now I stick by my assessment that Olint is not a ponzi, but I would feel more comfortable in that assessment, if we could see an audited SUMMARY of accounts. All I would need is an assurance that the figures on my statement actually existed at some point, and is not just some numbers on a piece of paper. I understand that assurance will not completely remove all risk, but I am not looking for risk elimination, as there is no such thing in life, but simply some reasonable risk mitigation.
ForexGuy Says:
April 23, 2008 at 3:19 am Warning: This is an incredibly long rant about a newly appointed member to the frequent-flyer club of this blog. Feel free to read at your own leisure (or lack thereof):
Well, it seems to me as though a certain ‘Self-Sufficient’ new poster to this blog is trying slowly but surely to stir up some trouble. I must applaud you on the dramatic camouflage of your posts, as it does seem that you do have vast knowledge of the human mind, and how to manipulate it.
Your early posts start out with an introduction and the general cry of skepticism and worry about your invested funds etc. You mention a certain form of ‘evidence’, which anyone who has seen even one episode of Law and Order knows is not enough to build any kind of case, and must be supported by concrete facts to even be used in court. Then you move on to the NCB issue, pleading adamantly for O to release the audits to NCB, while comparing DS with CH and MaxH, lumping DS in with the crooks as a bad source of information.
Right in the peak of your argument you call back to the olden days, seemingly calling for mental ‘independence’ for Jamaicans (seeing as physical independence was achieved long ago). Not sure if it is just me, but from the pictures I have seen of DS, it doesn’t seem that he would take to kindly to the issue of ‘NON-independence’, (for lack of a better word), much less lead the masses blindly down that road.
Again the cry for O to submit to the demands of NCB – ‘why not simply provide the audits and save some money on legal fees’ you ask aloud. You try too hard though to prove to us your ‘simple mind’ –edness, expressing it on several occasions. With your legal argument failing, you then turn to attacking the ‘business decision’ taken by O, and go on to PRAISE THE BELOVED FR who may ‘turn out to be right’ afterall, all this while expressing your ever-fading ‘confidence’ in O.
Insulting our good friend ‘Bless’ and his ‘no sense’ arguments, you cry over and over about the ‘damn audits’ and casually drop in that you are told your payment may be received all the way at the end of June! But oh my!! Me did tink se DS say him a go get tings back togedda in di end a May…Lard have mercy pon me….dis man jus prove se OLINT is a ponzi scheme….a wa mi a go do!?!? Nice touch of that ‘mental-training’ dropping that in….I am sure you were highly upset when no one picked up on that and started burning tires in the streets!
You even get the once-in-a-while shaky Stressed one to chime in his understanding of O’s situation. Following which you explain your basic understanding of how wire transfers work and manage to throw in that your blood relative is in the same business as MLC!! What a lovely coincidence! I wonder which NCB branch he works at….I mean, ‘I wonder which bank he works for?’ Tell us more about how difficult payments would be, and how long and tedious it is to get a wire transfer, (which at my last wire attempt was exactly….OVERNIGHT!)(That was on a wire from the CayIsl to the US last night, in a dollar amount that I dare not mention).
Out it comes that your blood-banker warned you of O from day one! DAY ONE! Following which you reiterate to us all that we have already heard and again confirm that your ‘faith’ in O is getting ‘lower by the day’ and question whether the DD is just to get more time for incoming money.
In your final shows of frustration and anguish you show us why it ‘don’t look good for O’ and begin to finally agree that the blood-banker may have been right!! Good Lord ‘what exactly does Olint have to hide?’ you proclaim in a fit of rage! Oh, and don’t forget your ‘feeling that we are being led down the same path’ as CP!Here is the real deal:
NCB could give a crap about the Audits. That is simply a ploy do discredit the O organization.
What do you think would happen if they got the audits and they were satisfactory by normal standards? Do you really believe that MCL would simply open up the door and roll out the welcome mat? Absolutely not! The next step would be to ask for a sample of DS ‘$41T’ to see if it stinks like everyone else’s. But of course it would not smell enough to pass the special MLC-DD test! Then at that point, by obvious logic, they would have to sadly and regretfully close the account of the biggest competitor that bank has EVER had. Poor MLC, he is only doing his job! David’s ‘$41T’ was not stink enough! MLC has a right under the “Really-Get-To-Know-Your-Client-Inside-And-Out” Act.
Seems like FR and Cindy took the road-trip to Mexico and got some cheap plastic surgery while they were there (to fix the damage from falling off that hella-high bridge).
Hopefully at the end of May the truth shall set us all free and make us all INDEPENDENT of the wolves-in-sheep’s-clothing that lurk among us.
Realist Says:
April 23, 2008 at 7:24 am Looks like a corn get mash hard. lol.Wan Spec, your reasoning is quite sound. You cannot effectively manage your risks if you are not aware of certain key facts. As an investor, you need to have the assurance that the entity you invest with has taken reasonable measures to protect your investment. Transparency helps provide that assurance.Even if these investment schemes are above board, they create suspicion because of the lack of transparency. If there is nothing to hide, then do as the regulations require. Doing so should make the way clear for even more investors to come on board.
Wan Spec Says:
April 23, 2008 at 8:43 am # – 664 ForEx Guy. I know you are not engaging me but I would like to add something. I agree with you that NCB’s motives are less than honest. My argument is that when you ask a court to intervene, they are not going to look kindly on your argument if you also have unclean hands. NCB’s motive, how ever ill-intended is not a defense you can use in a court.Like the judge said, Olint is not likely to win at trial by refusing to provide the statements because the law is quite clear. NCB is REQUIRED to ask for them, and is within its right to terminate the relationship if Olint refuses to provide them.Would Olint and by extension it’s members be better off if there were more transparency? I can’t see how we would be worse off if there is truly nothing to hide.
Wan Spec Says:
April 23, 2008 at 8:46 am # 663 – Realist. Not only would more investors come on board, these constant runs that Olint has experienced would be avoided, resulting in improved customer service, and people would be getting paid right now.
mangobeach Says:
April 23, 2008 at 9:55 am forex guy, I’ve been reading/studying the entries and it seems your long rant is misdirected. There seems to be some sort of coordination going on here. I sense a breach in defenses and more than one are among us. The agents have found ZION!the insinuation that there is a federal(US) investigation looming with the the Spike Lee message of “do the right thing” without the tiniest bit of evidence, would only come from the authorities. This is the panic inducing jargon of the those in charge.Time to call for NEO
RedP Says:
April 23, 2008 at 10:00 am If, as a private company the law does not require me to show audited reports to the bank, why should I? The bank can go F off.On the other hand,If my doing business with ONE client jeopardizes my relationship with other entities that I do business with, and that client will not be forthcoming with certain documentation, he can go F off.

So, wah fi do? Super Dave should jus give them what them want and make life easier on us, HIS clients, because in the end its us that are going to get effed.

Respeck
RedP
pete Says:
April 23, 2008 at 10:28 am I agree with mangobeach there is more than one agent amongst us well coordinated well focused on Olint to create FUD (fear,uncertainty and doubt) the slave thing done to many educated people on this site.you can tell a million lies but one truth will crush a million lie and the truth is we now know how to create wealth outside of what the master has been telling us we have to invest with them.The problem is there to many DS out there now you can’t close the barn door preventing the horses from getting out when they’re already out.

Your attempt to create FUD is just and exercise in futility
Livin n Babylon Says:
April 23, 2008 at 10:39 am Bless #659 – I’m not sure that I’m following your question:
LNB
Why is forex trading under commodities and Futures, and a different regulatory body was set up for it in the USA and the rest of the world (even little Antigua)?There is no different “Forex” regulating body in the US, which is probably not what you were trying to say, but there is confusion on this in the US. At the moment the CFTC and the self-regulating NFA have little to no authority over the forex market, but they have established controls over the broker-dealers. You will find differing stances here, but I have spoken with the CFTC directly and the bottom line is that there is a move in Congress to make some final determinations that will set the record straight.For example, as of today, I could function as an Introducing Broker (IB) for a forex broker-dealer and (acting as a sales person) be compensated for my efforts. The important and dangerous issue relating to securities law is that as an IB my pay would be dependent upon the equity under management. In other words, my sales commission is tied directly to the amount of money I raise – makes sense right? This is precisely what the courts and legislature is saying they wish to disallow, because if I was an unscrupulous individual I would be financially motivated to mislead you into a highly-speculative investment, if it turned out I would make a larger commission. So if the “Protect Ma & Pop investor” argument holds the problem quickly becomes, “How do you compensate a salesperson?” Unfortunately the answer is that they have to become Commodity Trading Advisors (CTAs) themselves.

Again you ask:
“Judging from what you are saying horse racing (gambling) could be classified as security according to JA definition. They are taking money from the public, there is a contract (slip of paper that is given), there are odds (projection of increase) and I can earn substantially without labour.”

Naturally gambling and investing are viewed completely differently since gambling could be as simple an issue monetarily as the two of us betting over a coin toss. This does not comprise a joint venture with the anticipation of profit. A venture implies a business, whereas gambling implies entertainment, and this is the important distinction.

My argument was that this issue of currency trading is not in Ja-law, but rather than address this from a legislative stand point, the courts are relying on Babylon court decisions to interpret their own law. This is called legislating from the bench and it’s a weak practice that happens far too often. What Ja-people don’t know what they wrote or how to read what others have said? If something is not specifically included in the law where a list is present (such as the FSC is citing) that which is not INCLUDED as a SECURITY is demonstratively EXCLUDED.

Is a futures contract on cattle a security? No, it’s a futures contract. Is buying a rare stamp a security? No, it’s a collectible. Is cash a security? No, it’s money. Is the contract entered into between two parties for the purpose of investment gains where the dealings are not based in securities – a security? It all depends upon the jurisdiction and until the FSC decided to make David their test case his business model was NOT considered a SECURITY CONTRACT.
Stress now Blessed Says:
April 23, 2008 at 10:43 am Pete/MangoBeach/ForexGuySshhh….mi on mi way to one “Intelligence” briefing…Mi will report to unuh when mi come back
dehustle Says:
April 23, 2008 at 10:49 am Technically perhaps the NCB can ask O or any other company account for audited statements, in practice do they ask all such accounts? hardly likely (we have never been asked for ours in 5 years )
Even though We all feel that NCB’s main motivation is malice , had Olint provided these statements and then the Bank then come up with another “stipulation” (which they probably would have ) It would have made Olint’s case of malicious intent /unfair competition so much easier to proveAre audited accounts expensive? Intrusive ? Yes but so is Nunes Schofield & Deleon and I can’t speak for all members but I would rather get 1-4 % less gains mthly due to admin costs than see 16% that I cant access freely
Peace
Stress now Blessed Says:
April 23, 2008 at 12:11 pm ForexGuy #662After reading your much respected post I felt compelled…TO: Siblings of the Blog family

Many do not accept defiance of those in authority, or the display of individualism. Society scrutinizes and punishes those who dare to explore their rights to pursue financial greatness.

Let us not allow sinister motivation and the Council of vocations to assign us to the job of street sweeper.
“We alone, of the thousands who walk this earth, we alone in this hour are doing a work which has no purpose save that wish to do it.” Ayn Rand, Anthem

Fear seems to be the prevalent emotion in Jamaica land we love. We the people are blinded and afraid to speak our opinions where it matters most. As a result, the Council’s men are the ones ultimately in control; individual citizenship does not exist. State of mind is set to “backward ever and forward never.” To put up a fight with those in authority is a crime punishable by death of ones individualism.

Let us not obliterate each individual’s mind and self by demolishing the thought and action of personal choices, desires, and values. “Are we proud of our decision to take a leap in the deep waters in search of financial greatness, or of the hands that trade on our behalf, or is there a line to divide these two?” We are exploring the possibility for change. Let us not be brainwashed by the censorship that has been placed upon our surroundings.

Let us become more in tune with our own emotions, unafraid to have our opinions heard, or be apologetic when we show vascillation of what to believe. We have experimented to broaden our potential for wealth. Let us choose to live with it!

Be blessed!
JohnDoe Says:
April 23, 2008 at 12:24 pm @Wan Spec. Is it possible to get that document from another website except NCB’s website. If I was “conspiracy-minded” UFO “investor”, I would be very skeptical of the veracity of that document.@Bless. Keep in mind that Horse-racing and Betting on Horses is heavily regulated, with a high level of transparency. You can not just go and set up a betting shop.
ForexGuy Says:
April 23, 2008 at 12:34 pm Stress….make sure to fill us in when you get back!
I too want to be financially INDEPENDENT!
Wan Spec Says:
April 23, 2008 at 12:35 pm LOL, its just amazing to me that given the choice between facts and superstition / rumor, that so many of us would rather dwell in the realm of superstition and rumor.I guess the judge must be a ’secret agent/the man’ out to destabilize Olint too….LOLThe answer is right there in black and white but yet we are still looking for conspiracy theories.

Dehustle – you hit the nail on the head. Olint’s argument would have been stronger and may have carried the day had they provided the accounts, because then it would be easier to show that NCB was hindering fair competition, if NCB had come up with another stipulation which they probably would have. Even the judge in his opinion said that one of the reasons he was not extending the injunction was that Olint could easily avoid injury by providing the accounts. To me that is an indication that he would be more supportive of Olint’s position if they provided the statements.

It makes me wonder about those on the blog who are so hostile to the idea of transparency. Do they know something about Olint the rest of us don’t know why they think that transparency would be a bad idea for Olint? I can only see how transparency would help Olint and make it stronger, not bring it down.

Help me understand what are the arguments against transparency. We are not talking about divulging trading secrets.
JohnDoe Says:
April 23, 2008 at 12:47 pm @Patricia. I am surprised that the post was removed. I was merely looking at a few questions raised earlier and providing my views. In summary, 1. the question of proof, 2. where were the detractors 5 years ago and 3. why non-investors are so interested in what happens to these schemes?@Wan Spec
Wan Spec the answer might lie right here….Patricia follow me…If 10 of Olint “investors” had put in US$ 1,000,000 in December 2005 and rolled-it-over(compounded) until December 2007, note the following that in 2 years:
At an average of 5% per month, each those 10 “investors” would now be owed US $2,223,009,94 in interest.
At an average of 10% per month, each those 10 “investors” would now be owed US $8,849,732.68 in interest.
thanks Says:
April 23, 2008 at 1:10 pm pip unit did you get any money from lew based on the 22nd date.
dave Says:
April 23, 2008 at 1:28 pm Any thing new on Capital Blu? I got money there just wanted to see if anyone else is a client or if there is any new info on the company.
thanks Says:
April 23, 2008 at 1:33 pm I beleive that why DS is afraid to give an audited statement is one or more of the following:
1. Some months he may actually sustain losses but covers it when he makes alot eg: say one month he makes 27% gains he may pay out 14% but say he sustains a loss of -5% the next month, then he may pay 7% from what is had made from the previous month. This would come out in an audit thus making him less creditable etc.If you look at forex brokers records this is how it goes. Some gains some losses.Its never always on the positive side. But the net effect is usually positive at the end of the year.
2. Some members may actually have very large sums of money which they never declared and the powers that be would discover this and my demand taxes.The leads to issues of money laundering etc.
3.Broker may actually be investigated by the US treasury as I have heard.With the US shaky financial market, terror financing and money laundering excessive withdrawals could initiate an investigation.Funds could actually be frozen.
4. DS sustained a major or many losses and trying to recover losses.An audit would show this up.
5. Although very far fetched, he was not real forex trader but running ponzi from day one.Just my 2 cents
Bless Says:
April 23, 2008 at 2:06 pm LNB thanks for the clarification.Oh, by the way of some of these detractors could be family member of the NCB family so blood is thicker than water so it does matter what you are going to say they are part of the “converted”in IT
In Mutual funds
In JA “inner circle” takes a lot dought to reach there

So I understand the line of defence
mangobeach Says:
April 23, 2008 at 2:33 pm blessed, awaiting your report with bated breath.Wan Spec, there’s nothing very secret about you!
Lisa Says:
April 23, 2008 at 2:47 pm does anyone know if MD acoounts have been updated i’m getting conflicting reports and would like to know as my account remains inactive although i have complied and sent the necessary documents.
thanks
DR Says:
April 23, 2008 at 2:49 pm Thanks, 679You could very well be right….because I am sure Noel of WW, alluded to that on a Nationwide program.He said some months he makes losses…some months great gains…so he use the good months to take care of the losses. I think he said on average they make between 20% – 25% but one month he made a high of 42%…however there have been months when he made less than 1%.
investor Says:
April 23, 2008 at 3:26 pm Lisa,MD, not updated, they advised that by the week end this update will be done. We hope and trust they will STICK TO THEIR WORD !!
Kevin Says:
April 23, 2008 at 3:42 pm Since starting this blog at the end of January we have now surpassed 100,000 hits!!. Thanks to those individuals that keep the blog flowing with information and great humor. For the many addicts out there please contact StressednB for an appointment.
Every now and then remember to get off the bus and stretch your legs. The journey is long and we picking up all kinds of passengers. Some that sit quietly with their seat belts fastened, some that are unruly, walking in the isle troubling others and pick-pockets.
Remember to always keep it positive and informative.
As you were.The ‘Driva’
thanks Says:
April 23, 2008 at 3:51 pm bloggers various list of various brokers. Here is the trends in returns. It not always positive. Alot of brokers lost money in january.http://www.fenixcapitalmanagement.com/managed/forex_funds.php
http://www.goforex.net/managed-forex.htm
http://www.fx-forex-trading.com/port.htm
http://www.alterforex.com/managed-forex/managed-forex-accounts.html
RedP Says:
April 23, 2008 at 4:52 pm Hey Drivah! Yuh change course!! Yuh gaan fram harringe tu green!! Brap Brap SHOWAH SHOWAH!!
Bless Says:
April 23, 2008 at 5:10 pm There are people out there that really believe that DS dont loose money, give me a break. When he was on TVJ with Owen James he did not say that he did not loose I remember him saying he takes his gains in small increments that was one of his strategies and that he loose moneyTo me, the amount of money he has at his disposal is what keeps him into the game, because of the number of lots that he has and he has more chance to recoverDS was given a break because of the investment club membership rule was not define in JA.

In the States a lot of small traders get new money by teaching forex trading course to get new money as they have the club membership rule to content with

They need new money to keep them in the game – some will say that you will loose 30% of the time (which 30 they will not guarantee) and you should only expose 1% of your money at a time. Why do believe DS stated that you can loose 20% of your funds

I have bought myself a forex course because I wanted to get an understanding of this forex business.
jk Says:
April 23, 2008 at 5:54 pm To our valued PartnersWe refer to notices –February 15, February 20, and April 1, 2008 advising of the company’s decision to terminate the issuing of cheques and instead funding your accounts directly. In this regard effective April 23, 2008 WWPL will no longer be issuing cheques.WWPL will fund your account at UGI Finance & Investment Limited. This is a new way for WWPL to accommodate client requests for withdrawals. UGI Finance and Investment Limited is a FSC regulated institution that has been in business for over Ten Years. UGI finance and Investment Limited can accommodate clients wishing to open accounts with them, however UGIFI does not endorse World Wise Partners Limited in any way, whether implied or otherwise expressed.
We will be adding other investment companies as options for partners to open Accounts in the near uture. Your World Wise Customer Service Representative (CSR) will facilitate this process by providing you with the requisite forms for completion. To open an account with UGI Finance, You will need your Tax Registration Number (TRN), Proof of address and a photo I.D. e.g., Passport, Drivers’ License.
For company accounts, the following documents are required:

Certificate of Incorporation
Memo of Articles & Association
Directors’ Resolution
Copy of Tax Registration
Company’s TRN
Copies of Directors’ photo I.D.

We thank you for your cooperation as we strive to serve you better.

World Wise Partner…..Where Partnership Pays!!!

wasnt it once said in the news papers that CP could used licenced dealers to operated? if so this is very interesting
JohnDoe Says:
April 23, 2008 at 6:25 pm Interesting development…1. Licensed Securities dealer by the FSC2. Cambio License suspended by the BOJ
UGI FINANCE AND INVESTMENTS LTD. (SUSPENDED)
http://www.boj.org.jm/cambio_licenced_locations.php?agent_id=90
jk Says:
April 23, 2008 at 6:27 pm interesting indeed
Jay Says:
April 23, 2008 at 6:34 pm BOJ putting on the squeeze on WW !!Who owns UGI FINANCE AND INVESTMENTS LTD.What was the reason given for the suspension ?
paul h Says:
April 23, 2008 at 6:48 pm wan spec, don’t know if you are affiliated with either “O” or “LF” and if you are , for how long.For whereas your arguments for the most part may be true ,you are way off base when you speak of the ‘frequent runs’ on “O”.That simply is not true.When “O” was raided early ‘06 there was some amount of panic but the deal was stay in or pull out totally (based on the interpretation of the then c&d order by the courts.The gains for that month was above 4%.I was one who stayed the course and more than tripled my balance and that included my voluntary contributions of 20% of my monthly gains.Again I worked with the Principal of “LF” at J.B.(as in chicken) for years.Funnily this happened shortly after the christian lawyers association came out in protest of a ambiguous gay rights charter that they contended was too loose in the form in which it was introduced and the said principal was a very outspoken member of that or a related organization.I could say more but suffice to say we were all paid and up to Dec.07 there was no other run and remember this was as a result of happenings at “HW” and “CP”. jus de facs.
paul h Says:
April 23, 2008 at 7:01 pm Dennis Chung noted contributor in the Friday paper engaged in fx trading as research for his weekly columns. The first time out without a lot of trades he reported gains in excess of 20% for 1 month. A couple months later he went back in a more clinical way .He engaged others to verify his activities and notified them of each trade as they were made.Over 1 month approx. he did more trades .He lost out on maybe 1 or 2 however he was up over 200% thats right 200% .And guess what he printed the trades in the article for all to see.Check the archives.I know of others who catch a riddim after 2yrs and currently trade at a zero loss each month.Its simple some can and some cant.Personally I stick with “DS” and “LF” and monitor my own.Again be encouraged you can do it too.
Jay Says:
April 23, 2008 at 7:16 pm I think the issue is not that DS is not making money doing FX, the issue is he CANNOT be winning every month.
There is no transparency so we really don not know what is happening.
Look at FXCM, they are regulated and shows there financials with is really not a lot of information.
The also shows losses for a number of months. Take a look at fxcm report showing what has happened over timehttp://www.fxcm.com/managed-accounts/SystemPerformance?id=110
Jay Says:
April 23, 2008 at 7:22 pm Take a look at some data provided by FXCM on a monthly basis, this one is for February.
As you can see its not a lot of information.Dislosure is important, why is that so much to ask. Guys after so many loses, HW, C-, MD, Swiss, Mini, why are we still blinded and refuse to ask for FULL DISCLOSURE.
There is no propriety information being asked for.http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documents/file/fcmdata0208.pdf
Stress now Blessed Says:
April 23, 2008 at 7:51 pm Good EVELIN everyone!MI HAVE A HEADACHE — TRAFFIC NAILY MAD MI ON MY WAY BACK FROM THE “INTELLIGENCE” BRIEFING, now all fi realize dat it done disclose – UGI/WW scenario.ON A SERIOUS NOTE: Can someone please explain to me what is really going on in Jamaica with the banks?

Please my siblings unuh help mi to understand it. I live in farin and nuttn don’t go so up here.

HELP!!!
moremoney Says:
April 23, 2008 at 8:23 pm check this blog out
moremoney Says:
April 23, 2008 at 8:24 pm http://moneyviper.livejournal.com/573.html
Pip Unit Says:
April 23, 2008 at 9:04 pm Not yet THANK SAYS. Usually it’s always about 2 weeks but during the wait time this month they notified me by email saying the standard is now 1 month . I’ve been emailing them trying to get them to send it out sooner. When i get it i’ll post online how long it took.Has any body used http://www.forexautopilot.com ? It sound good.
Mercury Vapor Says:
April 23, 2008 at 9:36 pm Hey Kevin, nice new look to the site…keep up the good work.
DH Says:
April 23, 2008 at 10:40 pm Jay
“Dislosure is important, why is that so much to ask. Guys after so many loses, HW, C-, MD, Swiss, Mini, why are we still blinded and refuse to ask for FULL DISCLOSURE.
There is no propriety information being asked for.”Do you know people that lost money in MD?????? Get your facts straight!!!!!!!!!!
Paige Says:
April 23, 2008 at 10:53 pm John Doe
#690. That’s what I am taking about. Even though the information is not good news that is something we would want to hear about. Concrete Facts is always the way to go.
Stress now Blessed Says:
April 23, 2008 at 11:14 pm Paige #703I went to the page and it said list as of April 23rd. I want to think that might have happened today after the announcement.Hhmmm
Mercury Vapor Says:
April 23, 2008 at 11:25 pm Re: Post 700Pip Unit, the writer of this blog has been testing Forex Autopilot and shares his experience so far:http://alansmoneyblog.com/2008/04/10/forex-autopilot-on-a-live-account/
RedP Says:
April 23, 2008 at 11:49 pm Non related item but I thought it important enough to share with you guys, what with health care in a shambles. Check it out.http://www.1cure4cancer.comLove and peace,
RedP
jay Says:
April 24, 2008 at 6:32 am DH@ 702 says ” Do you know people that lost money in MD?????? Get your facts straight!!!!!!!!!! ”Darn, ok go a head and wait until you have lost money.Come on people, MD is nothing but a ponzi and you would be better served working with regulated entities.

I am stunned that people are willing to wait until they are burned before learning.

Why can’t we learn from other people’s mistake.
C- left over 30k out of cash
HW – Maybe over 5000
Swiss Cash – 4000
Minivestment – ???

Cost to the country over $6B and counting….

Next
MD ?
?
?

Who is next and how much will be addeded to the figure above.

Geeezzzz !!!
Mercury Vapor Says:
April 24, 2008 at 6:44 am Re: Post 700Pip Unit, the writer of this blog has been testing Forex Autopilot for a short while. So far, his results have been positive. You can read his reviews here:http://alansmoneyblog.com/2008/04/10/forex-autopilot-on-a-live-account/
Patricia Says:
April 24, 2008 at 7:19 am http://www.jamaica-gleaner.com/gleaner/20080424/news/news5.html…”5. Expecting a windfallSeems like at least two senior persons are expecting a windfall of one sort or another, as word is that the two recently jetted into the offshore banking centre on a private jet to open up their own forex accounts.”
DH Says:
April 24, 2008 at 7:34 am jay
it seem you not an investor so tek way yu self and find somewhere else to blog
G-Man Says:
April 24, 2008 at 7:53 am http://www.ugifinance.com/start.php
Realist Says:
April 24, 2008 at 7:58 am Why does the link http://www.ugigroup.com/ take you to the Observer Teenage page?
G-Man Says:
April 24, 2008 at 8:14 am Realist Says:
April 24, 2008 at 7:58 am
Why does the link http://www.ugigroup.com/ take you to the Observer Teenage page?I was kinda wondering the same thing too.
DR Says:
April 24, 2008 at 8:24 am Jay #692UGI Finance and the UGI Group is owned by Neville Blyte as I understand it.He at one time owned UGI insurance and had majority shares in CVM but sold them both to Lee-Chin, who renamed UGI insurance, Advantage General.

If the information I just posted is incorrect, I know I will be guided by Kevin-The Driva, Patricia-The Educated, SnB-The Blessed One, and Investor Girl-The Professor.
DR Says:
April 24, 2008 at 8:29 am I will state publicly, I don’t believe that WW will get registered for now. Maybe next year if so early.Do you really believe that the “Association” will sit back and allow the Central Bank and the Regulator to license or register WW without a strong fight?.WW operation could strangle the banks. Remember if you continue putting money in at 12%, after a while, you will have enough money to purchase anything your eyes behold. Banks CANNOT survive without loans.
DR Says:
April 24, 2008 at 8:32 am Driva,I love the new color scheme. Green & Black…..ouchMight I remind you that I went to that GREAT institution on Red Hills Road, Kingston, Jamaica.

Yes Sir, Here Sir, so we answer near or far.

Rabalac!
Patricia Says:
April 24, 2008 at 9:07 am DR, you too! ….Oh My, u C-Bar guys just seem to pop up everywhere. I thought Kevin was just Going Green, that seems to be the latest buzz. Well the men of my clan are Wolmerians, 3 generations to boot!! In fact they’re coming home for the big reunion in July.
Patricia Says:
April 24, 2008 at 9:08 am In fact I think some will be heading straight for WS , turning off his cell wont help
HD Says:
April 24, 2008 at 9:26 am Yes Sir, Here Sir …..Oh when CBar go marching in…..Bam Bam Bam…rewind
HD Says:
April 24, 2008 at 9:27 am DR as a CBar man you should know everything thats going on in the clubs…hint hint
HD Says:
April 24, 2008 at 9:30 am Paul H #694….just to add I agree we can all do it for ourselves and if you think you can’t do it then get someone to mentor and help you….Forex trading is looking so good for me now I hardly even care much anymore if I lose the money I have in certain clubs.
HD Says:
April 24, 2008 at 9:35 am further hint….name of certain airplanes in US air force.
DR Says:
April 24, 2008 at 9:43 am HD I think I picked up your hint…..Yes in fact that man and I not attended the same school (if I am remembering correctly) but we do attend the same church sometimes……That’s why I know so much about clubbing.As a matter of fact, one of the places I hang out on a weekly basis, has different views in attendance. The Regulators, Club Principals and even a certain “lawyer” hangs out there.I tell you this, they are all “friends” but “enemies” when it comes to money. They drink at the same bar, worship at the same church but when it comes to money, DIFFERENT STORY!

Yes indeed, I’m the social butterfly.
DR Says:
April 24, 2008 at 9:44 am well well on the matter of name of airplanes…I missed!I thought you were speaking about a certain rope.
Kevin Says:
April 24, 2008 at 9:56 am Yes I am also a Rabalac man.
Here sir (X 4)… so we answer near or far… here sir (X 4) … at the call of Calabar
HD Says:
April 24, 2008 at 9:57 am both the rope and the “Bomber” or “the key that you press for help in windows”….alumni connections.
Geotrdr Says:
April 24, 2008 at 11:10 am @713I don’t think that any organisation that has been recently been labeled as “alternative investment”, “investment scheme”, “investment club” will be registered anytime soon either. Whether anybody likes it or not the banks are way too powerfull and have way to any friends in the regulatory bodies. None of the clubs will be able to show on paper that they chalk up to the standards specified by this bodies. WW was just buy time by submitting that app.Everybody is probably planning how to “operate” somewhere else and still pay investors here. Why bother kill up yourself?
Yardman On Wall Street Says:
April 24, 2008 at 11:11 am CRITICAL INFORMATION – PLEASE CLICK ON THE LINKMy fellow bloggers it is indeed highly possible that the on going investigations by the U.S. Government has led to the extreme due diligence being currently undertaken by the Forex clubs, and may have also led to the demise of Cash +.• The exploitation of the U.S. and international financial system to move illegal profits and funds, including sending billions in illicit funds through the U.S. financial system each year. To continue this practice, they seek to corrupt financial service providers globally.

• The use of cyberspace to target U.S. victims and infrastructure, jeopardizing the security of personal information, the stability of business and government infrastructures and the security and solvency of financial investment markets.

http://www.cnn.com/2008/CRIME/04/23/organized.crime.threats/index.html
Livin N Babylon Says:
April 24, 2008 at 11:17 am Just a quick word on FXCM’s program. I put 20k in their aggressive account and watched my balance shoot up 12% in two days to then come all the way back down below what I had invested. I waited for over a month watching the account daily make small moves. I finally closed it out for about even, because it was just so ridiculously volatile. The system is completely automated and makes a ridiculous amount of trades. Also I don’t like the way the material was presented, although they have made improvements, but there is no deep history. Understand that when you look at these annual summaries with the month-by-month breakdown, that live trading is only from June of 2007 and the rest is hypothetical back testing.I’m not implying that this is dishonest, I just want to make mention of this since most people don’t seem to understand that there is a major difference between real and fictitious trading. FXCM is just now making a come-back of sorts. When the new rules went into effect for Broker-Dealers in Babylon, all the small guys were squeezed out. So now the only BDs around are much larger animals. At one time FXCM was a bucket shop, just making money hand over fist off the losses of their clients (and they were not alone in this nonsense), but now they are so big that I don’t believe this is happening. As a trader, I don’t like FXCM at all, but as far as managed accounts go, they’re not bad. If you’re going to go for it, I would suggest starting fairly small and not looking at it for months. It could drive you crazy if you’re not accustom to the swings of forex.
Yardman On Wall Street Says:
April 24, 2008 at 11:23 am THINK & CHECKThe current extreme due diligence by the Forex Clubs, and the demise of Cash +, could be as a result of the following:Criminals target energy, financial markets, Mukasey says
Story Highlights
Attorney general: International organized crime is a growing threat to U.S. security

Criminals have penetrated portions of the international energy market, Mukasey says

Groups also trying to corrupt financial service providers, he warns

International Organized Crime Threat Assessment outlines strategic threats

From Terry Frieden
CNN
WASHINGTON (CNN) — Attorney General Michael Mukasey warned Wednesday that organized criminal networks have penetrated portions of the international energy market and tried to control energy resources.

In a speech at the Center for Strategic and International Studies in Washington, he said similar efforts have targeted the international financial system by injecting billions of illicit funds to try to corrupt financial service providers.

Mukasey then vowed to beef up U.S. efforts to fight international organized crime, which he called a growing threat to U.S. security and stability.

The attorney general and top law enforcement officials from the FBI, Immigration and Customs Enforcement and the Justice Department Criminal Division said a classified threat assessment prompted the creation of a strategy to combat the threat.

It calls for several U.S. agencies and their overseas counterparts to better prioritize their targets, to improve information sharing and to boost cooperation in law enforcement investigations and operations.

“The activities of transnational and national organized criminal enterprises are increasing in scope and magnitude as these groups continue to strengthen their networking with each other to expand their operations,” said FBI Deputy Director John Pistole.

Officials declined to discuss specific cases because the information remains classified, and disclosure could jeopardize ongoing investigations.

However, the International Organized Crime Threat Assessment identified eight general strategic threats from international organized criminals:

• The penetration of the energy market and other strategic sectors of the U.S. and world economy. As U.S. energy needs continue to grow, so, too, could the power of those who control energy resources.

• Providing logistical and other support to terrorists, foreign intelligence services and foreign governments, all with interests harmful to those of U.S. national security.

• The trafficking in people and contraband goods, bringing people and products through U.S. borders to the detriment of border security, the U.S. economy, and the health and lives of those exploited.

• The exploitation of the U.S. and international financial system to move illegal profits and funds, including sending billions in illicit funds through the U.S. financial system each year. To continue this practice, they seek to corrupt financial service providers globally.

• The use of cyberspace to target U.S. victims and infrastructure, jeopardizing the security of personal information, the stability of business and government infrastructures and the security and solvency of financial investment markets.

• The manipulation of securities exchanges and engaging in sophisticated fraud schemes that rob U.S. investors, consumers and government agencies of billions of dollars.

• The successful corruption of public officials around the world, including countries of vital strategic importance to the United States, and continuing efforts to find ways to influence — legally or illegally — U.S. officials.

• The use of violence and the threat of violence as a basis of power.
Antonio Says:
April 24, 2008 at 11:50 am ..
jay Says:
April 24, 2008 at 11:53 am Yardman @727.C- was nothing but a ponzi. All ponzi’s will eventually fail.
JohnDoe Says:
April 24, 2008 at 11:59 am I have a few questions? I am seeking some information.1. How many years has World Wise been in operation?
2. On average, what are the returns per month from World Wise Partners?
3. Can you confirm whether or not WW said some thing about 20% being trading in FX and 80% in Government securities?
jay Says:
April 24, 2008 at 12:23 pm Johndoe1.WW starting trading to the public for one year and 2 months approx.
2.12% per mth
3. Call WW for that info, they are listed.Why, you are considering investing with them.

They seem to be the only one which is likely to get regulated.

The BOJ just however put a spanner in the works by suspending the cambion license of the company which they use to deal with forex.

Is BOJ applying the squeeze. ??
wardog Says:
April 24, 2008 at 12:45 pm which company is that
jay Says:
April 24, 2008 at 12:50 pm BTW,
Once or should I say, if WW gets regulated they cannot sustain or assure you of any 12% per annum.The problem with most of us who invest, is we need to understand that their is no such that as Guaranteed rate of return in any invest to you that does not itself has fixed payments.
Ie if you invest in something that fluctuatesa how on earth can you then be guaranteed a fixed return on your investment, its just not possible.What therefore needs to happen, if WW is truly doing forex trading and not using Peter’s money to pay Paul is something like this.

Pool of available funds traded for Feb US$10,000,000.
Actual funds used US$2,000,000
Leverage 100:1
Winning trades 15
TotalPips gained : 150
Lost trades 5
Total Pips lost 50
Net pips + 100.

Total winning trades $3,000,000
Losing trades $1,000,00
Gross return $2,000,000

Management fees etc $500,000

Net for investor $1,500,000

Returns on total funds under mgmt
is 15% .
So that is what you get for Feb.

If in March its the reverse, then your managed accounts drops by 15%.

What WW should not do, is in trying to cover its losses dip into the 80% to pay investors so it appears that they one when they have in fact lost.

This type of operations like the above would certainly bring about some level of credibilty to the forex trading outfit.

Why would any investor not want to know this.

In addition they should present to us, at least qtr verifiable accounts and audited financials at least every year.

TRUST ME if these guys do this, the would not have enough managers on hand to deal with the inflows of funds that would come in.

That is my two pips.
jay Says:
April 24, 2008 at 12:53 pm Wardog @ 732.
UGI UGI FINANCE AND INVESTMENTS LTD.They had cambio license suspended yesterday, hey very day WW issued a statement telling investors to sign up accounts at this company.The BOJ is not talking, they are just acting
wardog Says:
April 24, 2008 at 12:58 pm so jay i wonder if ugi will be able to pay ww members their monies in ten days
Stress now Blessed Says:
April 24, 2008 at 1:04 pm LEARNED ones…Which license does UGI need to do “Forex?”Which license does UGI need to do “Securities?”

What role will UGI be playing on behalf of WW?

Which license is necessary to perform such role?

Where is such license issued – BOJ or FSC?

Does the suspension of the Cambio license affect the role of UGI on behalf of WW?

Think / Check / Respond

As OneJam would say:
ONLY FACTS PLEASE!
jk Says:
April 24, 2008 at 1:18 pm things looking bad
DH Says:
April 24, 2008 at 1:46 pm Mi a tell you lang time, no of these investment clubs are going to get regulated
Listen people the government has to conform to rules of the IMF and IDB, regulated these clubs is a no! no!Yow the government affi make sure unu still a work and a pay unnu income tax because without it them can’t pay back the loan them a go get from the IMF and IDBanyway time will tell
moremoney Says:
April 24, 2008 at 1:54 pm dh
I respect your opinion. But I do not think its valid. We just paid our taxes in the US and this was in addition to income from jobs. Actually if these clubs are regulated the jacan gov’t would be able to get 25% in taxes for every dollar made.
Think of the roads, hospital etc could be maintained and built because of this money..
DH Says:
April 24, 2008 at 1:56 pm By the way, why those of us that have money in a “O” and think is a ponzi, why no just report them to the police so that them can get back unnu money.But I guess the reason unnu no do that yet is because unnu no sure say a ponzi and when every thing sort out, unnu no want to be left holding unnu bag a money.
DH Says:
April 24, 2008 at 2:03 pm Moremoney
Meria different if you no pay u taxes the tax man a come look if you. In jamaica them cant even a organize a cup tea without spilling the pot.
I have known self employed people who have neved pay tax in dem life and them drive the biggest cars and live the the biggest homes
moremoney Says:
April 24, 2008 at 2:10 pm technically these investment schemes/houses do not really need the jamaican banks.
Options:
1. Use wire transfers to receive money
2.Create a debit card/charge with a visa/ mastercard arrangement so they can charge up
3. create an arrangement with an offshore banks which could issue cheques, debit cards etc.I really do not see the big deal with the jacan banks.Recently one of my bank chase sent out a circular about wiring funds into there banks. I took no changed my business to another bank.No big deal.
DH Says:
April 24, 2008 at 2:10 pm And not to mention the effect it will have on inflation. Right now
house price a sky rocket and the people in the alternative investment a cause it. The houses them sell off before them done build, as matter of fact the housse dem sell off before the developer even dream bot it
moremoney Says:
April 24, 2008 at 2:13 pm DHMy brother has money in jmmb. The taxes are automatically withdrawn every month. This could be done with the investment clubs for residents of jamaica. Thus no one would be able to evade taxes.Get my drift.
DH Says:
April 24, 2008 at 2:13 pm Post 742
these what is going to happen every thing offshore, therefore people nah pay no tax and dem a go retire early
JohnDoe Says:
April 24, 2008 at 2:17 pm @jay
I am doing due diligence … I am investigating.I found the article about the 20/80 … here are some quotes…“In effect what I am proposing to do is use 80 per cent of the funds under management to buy up securities and use the remaining 20 per cent to trade foreign currencies, that way clients’ funds are secure at all times with a government guarantee. This means that clients’ funds are even more secure than if they held their money in a bank. We have engaged the services of one of the country’s leading commercial banks to help us execute this strategy.”

“It is currently in the process of preparing its accounts with a view to publishing audited statements at the end of the financial year which is July 30, 2008.”

“Our audited statements will be over the signature of one of the world’s top auditing firms. Our accounting system employs software provided by KRYS software system. This company works in conjunction with Deloitte&Touche. We believe in transparency and professionalism and want to ensure that World Wise takes its rightful place in Jamaica’s financial sector as a company that complies with all the relevant rules and regulations. We do not want to operate outside the law. We do not want to be in the shadows,” declared Strachan.”

http://jamaicaobserver.com/magazines/business/html/20080110t220000-0500_131279_obs_world_wise_takes_steps_to_protect_clients__funds.asp
moremoney Says:
April 24, 2008 at 2:18 pm I really do not agree with you about inflation. There are many factors contributing to inflation and that would not be for this forum.
moremoney Says:
April 24, 2008 at 2:27 pm DH 745
yeah but what choice do jacans have. The gov’t won’t allow for regulations and the banks do not want to keep account. So what do you propose people to do.Most people would not mind paying taxes but at the same time if they decalre to the jacan gov’t accuse them of money laundering. damn if damn if you don’t. what do you propose?
DR Says:
April 24, 2008 at 2:36 pm 725:ha ha HD….. get you now…. No sure who is the BOMBER though?….Are you talking about Super Dave?
DR Says:
April 24, 2008 at 2:49 pm 744 MoreMoney:I am not very comfortable with your “debit card” argument, because the “multilink” belongs to the Local Banking Association. Do you see the implications?..just a matter of time before ‘you know what’.After a while you will be called in to explain why this wire is coming in to your account from that company? If you cannot explain properly or pay the taxes, you account might be frozen….

My point, mek whatever money you an make NOW. because all a dem ting yah soon lock down…. WW just buying time as far as the registration process is concerned.

The Regulators might tell WW that there is a ceiling on what you can pay out per month, in order to “control” inflation. Think & Check. eg 3% per month
The Regulators have to protect the banking association….
DH Says:
April 24, 2008 at 3:34 pm Moremoney,
The inflation in jamaica right now may not have been caused from alternate invests but it will be a significate factor if there is increased participation in these clubs. This will cause Demand pull inflation -inflation caused by increases in aggregate demand due to increased private and government spending, etc eg happenings in the housing market
Lisa Says:
April 24, 2008 at 3:41 pm i have money with one of the other “alternative inv. scheme (14% p.m)and the principal is requesting that clients open offshore accounts because of inability to deal with the jamaican banking systems. I want to ask if this is indeed possible(offshore accounts) why have all the clubs not gone this route in earnest. I am not a banking guru but from what i understand you open the account online. the club transfer a large sum of money from their trader to the designated bank the bank then acts on instructions and disperses the loans to the individual accounts, the individuals then request for transfer to their local accounts and must at the same time maintain a minimum of 1K US in offshore account. If this is really posssible cann someone reassure me that it is so or am i just being led down the garden path. please note that the club principal acts as if he has found the holy grail.
thanks
Lisa Says:
April 24, 2008 at 3:52 pm On another note i am a little perturbed at MD’s action saying that accounts are inactive what does this mean has anyone asked?. does it mean that if they decide to post gains your gains as at date will not be posted or does it mean that you will not be able to make any further request for withdrawal, does to means that your monies would have stopped trading at date of inactivity, or is it merely a block from you seeing your account which if it is all you have to do is log in and it says inactive, click on account or any other subheading and you still get in to see your account anyway;-). Has anyone sought clarification.
Stress now Blessed Says:
April 24, 2008 at 4:23 pm Lisa,
If your account is showing inactive – MD might be requesting something of you. If you have provided what they requested and they are satisfied your account should be reactivated.I would send an email to member care verifying that you have supplied the requested and your account is still showing inactive.If you require further assistance, please post your email address so I can attempt to assist you further if required.

Be blessed.
Hanginthere Says:
April 24, 2008 at 5:07 pm Stress now blessed.I am having the same issue as Lisa, can you assist me as well?My email address is suzimak@yahoo.com
moremoney Says:
April 24, 2008 at 5:29 pm DR
752. I think your limited exposure to the rest of the world is clouding your understanding of the debit card.When foreigners come to jamaica. They are able to use their atm cards here because visa or mastercard logo on their card.There are other network as well other visa/mastercard. Multilink is just one network. Please do a little research on this.Do not misinform people on this blog.
DR Says:
April 24, 2008 at 5:41 pm MoreMoney:-Please don’t misunderstand..I wasn’t trying to lead people astray…Let’s NOT get RUDE. Peace & Respect everytime.I was was just merely expressing a viewpoint that is possible?

So I guess you are saying that as long as the club put the money on Mastercard or Visa then “Multilink” will never question the ligit of the funds. Right? I hope I am understanding you correctly….But question, What kind of relationship exist between Multilink and Mastercard/Visa? Can Multilink look on their computers and notice that a certain card is withdrawing alot of funds per week.

There are persons whose interest per month is US$3000 or more, now follow me. That’s Ja$210,000 per month…. Can you really pull out that amount of money out of an ATM machine per month….Isn’t that going to raise flags… then lead to DD. Would’nt they be able to trace your card number to you…..follow me now?

Remember at the end of the day most of us want our interest to be placed into the traditional banks. See where I am going?
But then, I guess the best way is to “live” off the card….like point of sale…
moremoney Says:
April 24, 2008 at 5:47 pm DR the network is made for all once your bank or financial institution is a member. VIsa and amster card is an interantional network as well as other networks. NCB, scotia etc cannot decide to block a card because they so choose. They do not have the power and possibly the knowledge,since its more like accessing a database to get your money. When I am in jamaica I use my atm cards and credit cards.No problem. Think of the card as a foreign card being used in Jcan.That might be easier for u to understand.The only problem people may have is if card gets jammed in one of the local banks machine or lost. It may take time for replacement since the issuer may be overseas.Those are some of the downside.But that may be the risk jcans will have to pay.
moremoney Says:
April 24, 2008 at 5:58 pm DR
understund what you are saying that some banks have limitation on how much money you can withdraw per day from the atm. I may be wrong but I think you can swipe money from card into bank account with atm card.
Your money would still be in bank not just a jcan since they will not allow it.
Another thing the overseas bank could give you foereign dafts(money gram and american express) for large amounts.The banks cannot turn away these since it already paid for and it is internationally recognized.Trust me there are ways you and I do not know. The overseas bank would be able to better help you.
moremoney Says:
April 24, 2008 at 6:05 pm multi link should not since visa etc is an interantional network. they do not have access in that way to deny you access once your pin matches. How would they even know who using the network. All of that is computerized.All the computer needs is a card matching the pin.
danews Says:
April 24, 2008 at 6:14 pm There are overheads that accrue with cards, if used on a ABM other than the issuing bank, then there is a fee..it can also be deemed as a cash advance if it is a credit card, and can attract fees of 6 % ( if it is a Jamaican issued credit card)Plus the local ABM may have some low limits ( US $300) for the amount you can withdraw per day
DR Says:
April 24, 2008 at 6:49 pm Peace MoreMoney:- Respect
jeremiah Says:
April 24, 2008 at 7:15 pm Jay at 706I have learned never to state speculation as fact. Obviously you have no clue what a ponzi scheme is. Do you know what forex trading is?The foreign exchange market is the largest financial market in the world, with a daily average turnover of well over US$1trillion—30 times larger than the combined volume of all U.S. equity markets

Warren Buffet one of the wealthiest men in America said his share holders
have earned $2.3 billion, on a pretax basis, over the past six years on holdings of foreign currencies such as the euro, the Australian and Canadian dollars, the British pound and the South Korean won.

Berkshire makes $100 million betting on Brazil – Feb. 29, 2008

In the December 5 2007 issue of the gleaner a Mr Kirkland wrote a letter to the editor please read it. He points out that

“The foreign-exchange market is not an ‘investment’, ‘gambling’ or a ‘pyramid’ scheme. It is the world’s largest financial market formerly dominated by global banks, multinational corporations, hedge funds and wealthy private individuals the world over.

.Here is a link to read for yourself

Jamaica Gleaner News – Foreign exchange trading 101 – Wednesday | December 5, 2007

One more thing please read this article from Henley Morgan in yesterdays observer

Don’t laugh at Cash Plus investors, cry shame on the government – JAMAICAOBSERVER.COM

Please stop disseminating false information to try to tarnish the reputation of these clubs. These clubs are trying to make a difference in the lives of all Jamaicans, I would suggest you pray and ask God to give you wisdom to speak with knowledge.

Proverbs 19 v 2 It is not good to have zeal without knowledge, nor to be hasty and miss the way.
JohnDoe Says:
April 24, 2008 at 7:36 pm @JK
Are you a World Wise Investor? Where did you get that letter from? If you are, and have money with World Wise, arrange to take your money out. When you’re done, tell them to stop spread misinformation and “playing games” with their clients. There is NO TRUTH to this “UGI – World Wise Partners” agreement stated in that letter.In true UFO style I will say this, I do not wish to reveal my source but I have been told simply this: 1. That the information in that letter was misinformation, 2. World Wise have been asked to retract.So I guess whoever used to get check as of April 23, 2008, will now have a problem.
DR Says:
April 24, 2008 at 7:41 pm what….I wonder if this is true:-Please bloggers file your taxes,,,, We are in an amnesty period.http://abcnews.go.com/Entertainment/FedCrimes/story?id=4718482&page=1
rexton gloudon Says:
April 24, 2008 at 7:52 pm could someone help me out please (none of the detractors prefferably an oonu know oonu self). what exactly is due diligence and how long does this take say in the case of an “O” rganisation?
moremoney Says:
April 24, 2008 at 8:07 pm Due diligence is a term used for a number of concepts involving either the performance of an investigation of a business or person, or the performance of an act with a certain standard of care. It can be a legal obligation, but the term will more commonly apply to voluntary investigations. A common example of due diligence in various industries is, the process through which a potential acquirer evaluates a target company or its assets for acquisition.[1[edit] Origin of the term “Due Diligence”
The term “Due Diligence” first came into common use as a result of the US Securities Act of 1933.The US Securities Act included a defense referred to in the Act as the “Due Diligence” defense which could be used by Broker-Dealers when accused of inadequate disclosure to investors of material information with respect to the purchase of securities.

So long as Broker-Dealers conducted a “Due Diligence” investigation into the company whose equity they were selling, and disclosed to the investor what they found, they would not be held liable for nondisclosure of information that failed to be uncovered in the process of that investigation.

The entire Broker-Dealer community quickly institutionalized as a standard practice, the conducting of due diligence investigations of any stock offerings in which they involved themselves.

Due diligence in capstone refers to performing the needful amount of effort, as in ‘doing diligence’

Originally the term was limited to public offerings of equity investments, but over time it has come to be associated with investigations of private mergers and acquisitions as well. The term has slowly been adapted for use in other situations..

[edit] Due diligence in business transactions
In business transactions, the due diligence process varies for different types of companies. The relevant areas of concern may include the financial, legal, labour, tax, environment and market/commercial situation of the company. Other areas include intellectual property, real and personal property, insurance and liability coverage, debt instrument review, employee benefits and labor matters, immigration, and international transactions.[2]

Consider the somewhat related business terms of malfeasance and nonfeasance. The American Heritiage Dictionary defines these terms as such: malfeasance is misconduct or wrongdoing esp. by a public official. Nonfeasance as failure to perform an official duty or legal requirement. Furthermore the term misfeasance means to perform a duty or responsibility inadequately or poorly.

[edit] Due diligence for hedge funds
An insight in-detail review of a hedge fund’s activity in order to ensure ultimately that the fund is in compliance with its prospectus. It is a roadmap for a potential investor in understanding whether a specific fund will meet his/her investment horizon, Risk tolerance and investment strategy. [3] and for an existing investor; a roadmap as to whether a fund has performed the way it claimed it would. In a non exhaustive list the due diligence will look into:

A Fund snapshot
Disclosed Investment Strategy
Historical returns
Assets under Management (A copy of the funds portfolio from the custodian is usually requested
Audited Financial statements if the Fund is SEC regulated
Funds terms and Details
Regulatory registration if any.
Risk Factors
Valuation
Every investor is going to have different investment horizons and risk tolerance, as well as a strategy preference. It thus follows that there is no “best” hedge fund, but a fund that closer matches investors preferences. An investor should almost always: [4]

Request consultation from a professional,
Read the funds prospectus or offering memorandum
Understand how a fund’s assets are valued
Understand how fees are charged
Understand any limitations towards the redemption of shares
Research the backgrounds of hedge fund managers
moremoney Says:
April 24, 2008 at 8:20 pm http://www2.gtlaw.com/pub/alerts/2006/0101.aspThis website talks about due diligence and the US treasuary department.
Hope this helps rexton
Roli Says:
April 24, 2008 at 8:20 pm 768: Here is an explanation straight from the U.S justice system.
http://www.fincen.gov/312factsheet.html
Pip Unit Says:
April 24, 2008 at 8:21 pm Has anyone got anymore info on these Lewfam “debit cards”?
moremoney Says:
April 24, 2008 at 8:28 pm for this due diligence olint will have to provide an audited financial staements and more than likeley he would have to an accountants and lawyers for sort the mess out. I suspect thats why its taking longer than. It normally runs around 180 days I think.
dehustle Says:
April 24, 2008 at 8:55 pm Hmm…. If audited staements are a requirement of DD which O indicates is going on now
That means O should have such statements so why not supply to NCB?Anyhoo just thinking aloud
Gawn back to bed
rexton gloudon Says:
April 24, 2008 at 9:08 pm Weh yu seh mi boss, 180 days? lol. mi belly cut mi same time lol. thanks fi di info still. respect.
Realist Says:
April 24, 2008 at 9:19 pm Interesting Readinghttp://www.treas.gov/offices/enforcement/ofac/regulations/facbk.pdf http://www.darkreading.com/document.asp?doc_id=151872&WT.svl=news1_3
Stress now Blessed Says:
April 24, 2008 at 9:24 pm Dehustle-M y D ear completed theirs with Wachovia – do you think my face at mother place there had said “newsPapers?”if you unsure – buffet
Realist Says:
April 24, 2008 at 9:31 pm More reading..http://siteresources.worldbank.org/PSGLP/Resources/461605-1102715152029/aml_financial-banking-sector.pdf http://www.gao.gov/archive/2000/gg00032t.pdf

http://www.forexfraud.com/

http://www.cftc.gov/customerprotection/fraudawarenessandprevention/forex/index.htm

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?sid=7e1068de65d0eb767da92b5ee2740d46&c=ecfr&tpl=/ecfrbrowse/Title17/17cfrv1_02.tpl
Jay Says:
April 24, 2008 at 10:00 pm jeremiah Says:
April 24, 2008 at 7:15 pm
Jay at 706I have learned never to state speculation as fact. Obviously you have no clue what a ponzi scheme is. Do you know what forex trading is?Jeremiah:

Did you read my post @ 735.

If not go back and read it
RedP Says:
April 24, 2008 at 11:14 pm #769
MoreMoney, Thankyou. People like me are very appreciative of people like you.RedP
DR Says:
April 25, 2008 at 6:05 am Cash Plus may be able to pay:-http://www.jamaicaobserver.com/magazines/Business/html/20080425T000000-0500_134924_OBS_CASH_PLUS_CAN_USE_UNCLAIMED_DEPOSITS_TO_PAY_LENDERS.aspCapital Blu sets the record straight:-

http://www.jamaicaobserver.com/magazines/Business/html/20080424T230000-0500_134916_OBS_CAPITAL_BLU_SETS_THE_RECORD_STRAIGHT_ON_SOLICITING_FUNDS_IN_JAMAICA.asp
jay Says:
April 25, 2008 at 6:56 am Lascelles share disposal fattens Mayberry’s bottom line – Profits climb 986 per cent !!!!http://www.jamaica-gleaner.com/gleaner/20080425/business/business4.html
JohnDoe Says:
April 25, 2008 at 8:47 am @Jeremiah: That is true Jeremiah. C-, HW, Swiss, Min and others have made a difference in people’s lives in Jamaica. It is just what kind of difference.Talk about false information. See it turn out that letter World Wise sent out about the UGI arrangement was pure misinformation. Tell the clubs to stop tarnishing their reputation by misinformation, breaking deadlines and poor customer service, especially from that Customer Care Organization@Jay: in your post(735) did you mean “12% per annum” or “12% per month”?
mark Says:
April 25, 2008 at 9:16 am Anybody have any info on uwin and F1, it would be appreciated . I heard that they are making encashments consistently every month
Mark Says:
April 25, 2008 at 10:45 am I just Called UGI they confirm that payments can be made through them from WW. You have to understand how delicate the situation.
Yardy Says:
April 25, 2008 at 10:55 am Anybody has the link to the article by Dennis Chung which PaulH spoke about in #694?
He is said to have researched FX treading by doing test trades himself and publishing the results.
Patricia Says:
April 25, 2008 at 10:59 am DR, you know I’m no fan of DD Jr, but I must say give him props for how he handled the issue of J’cans being able to open such accounts overseas. The FSC needs to wake up. Many pple have posted that the laws in JA need to be updated. The Income Tax also needs serious overhauling. The issue of capital gains needs to be addressed properly. New and appropriate legis is what is needed, so that the fool fool cat and mouse game can stop.Bunch of @$##$%^ hypocrites!!!! and on that note I am very dissapointed with the usual blah blah blah from the govt and no action. Turning out to be just another bag a mouth. Watch and see if they dont turn out be the biggest NYAM and SCRAM!
Patricia Says:
April 25, 2008 at 11:01 am For the more delicate ears, sorry for the rant. But mi jus tiyad ah the backwardness. Have a good week end all
Livin N Babylon Says:
April 25, 2008 at 12:01 pm Mi bloggin brudas SnB, Wana Spec, MerV, Mr. T – Good news, Olint card works once again – Happy day here in Babylon.
Di daises she comes! Patience.
Mercury Vapor Says:
April 25, 2008 at 12:15 pm Re: Post 787Thanks for sharing the good news Livin N Babylon. See, like I said before this week has been pretty good. “O” is paying…a little, MD is paying…a little. Just hang in there guys, things are looking better!Even good news regarding C+, in the article posted by DR in Post 780, the Jamaica Observer said:

“Reliable sources tell Caribbean Business Report that alternative investment scheme Cash Plus, headed by Carlos Hill has at least US$15 million in unclaimed deposits that could be used to pay lenders.”

Thank God, that news was really needed. There is hope that C+ lenders will get back some of their money. I think if these guys get back most of their principal (forget about interest) they’ll be happy.
pete Says:
April 25, 2008 at 12:21 pm I hope I can help out on issue of international debit card transactions locally.1)local back clearing house is JETS (Jamaica electronic transaction system) owned by the local banks they control this system they can only handle local debit cards.2)Point of sale terminal and ATM machines locally is controlled by local banks.

3) On the point of sale terminal and ATM it is the debit/credit card application that control what type of debit and credit card will be accepted on the terminals .

4) Visa ,Mastercard ,Amex dictate what protocol the debit/credit application terminal must have and the bank must be in compliance to accept their cards.

5)Local bank in Jamaica is not in full compliance in Visa,Mastercard and Amex in regards to accepting international debit visa,mastercard and Amex.

6)If you have a international credit from another bank with Cirrus logo on the back mean you can used that card in Jamaica without any problems.

7) Local clearing house(JETS) system don’t to have anything to do with tracking or monitoring of visa,mastercard amex or international local banks debit card with Cirrus logo as the fact is the major credit card companies handle acquiring and settlement of their own cards along with the international debit with Cirrus so as you swipe your card locally that info is sent out to the acquiring bank and settlement clearing house for approval.

8)Only your International credit card company and International bank debit with Cirrus set the amount you can withdrew from the cards the local banks can’t affect this in anyway or can’t even know who card it is or what your limit.

9)Electronic banking is impossible to control or stopped by what’s going on locally by these banks and government if you think locally you will be controlled offshore account is the only way anyone will be able to continue in these unregistered clubs.
the major problem these club are facing right now is the ability to offer their customer international debit cards from Visa, Mastercards because the local are not complienced with there debt/credit application so when these card are swiped system goes into limbo and decline .

Hope this helps.
jay Says:
April 25, 2008 at 12:29 pm Yardy @ 784http://dcjottings.blogspot.com/2006/12/business-of-fx-trading.htmlCheck that link
Geotrdr Says:
April 25, 2008 at 12:39 pm Ok DD Jr. So your setting the record straight eh. We all know you came down here to get people to give you money…. so all your legal mumbo jumbo and blah blah blah is BS. I’m sure you have a definition of “soliciting” that you just waiting to fire off. Capital Blu Management LLC vs. Capital Blu Limited…oh please. You came here to drum up some interest and take advantage of people willingness to invest in a product that has gotten alot of attention recently. And thats fine, thats business. But you did come here to “solicit”. We all now that. But anyway do your thing.On another note DD Jr. The Contender look pretty eh. Name and logo….Jeezum. Put it just South West of the bar. Maybe 50ft out. Some nice exposure there.
Patricia Says:
April 25, 2008 at 12:46 pm Geotrdr, stop it…PEACE BE STILL!! … cho man, we all know how it go Good to hear the cards are loading. All who sitting on the application form fill it in and send off.
Geotrdr Says:
April 25, 2008 at 12:47 pm 786/786
I hear you Pat. It is backward. It needs updating. Will it happen? Who knows. The damn thing is some old it needs a complete overhaul. Very frustrating.
Geotrdr Says:
April 25, 2008 at 12:50 pm lol Pat. What happen, 790 too agressive.
Patricia Says:
April 25, 2008 at 12:56 pm LOL, cant be worse than my preceding rant..LOL..but he really is VEEEERRY TRANSPARENT.
Geotrdr Says:
April 25, 2008 at 1:46 pm hmmm …transparent…hmmmmm, I think he was more defending the no solicitation stance. As for your rant, your allowed one every now and then. At least there were no clats in it.
Mercury Vapor Says:
April 25, 2008 at 2:16 pm We all know that Cap Blu went to Jamaica to advertise! Free forex seminars…yeah right, nothing is free in this world. Whenever a business offers a “free” seminar, it’s always to advertise their products or services.However, I am happy to see another player in the market…more players means more options…that’s good for jamaica. Hopefully more (and better) forex companies will offer their services in the future. One thing though, forex trading is so popular in Jamaica, so where is JMMB, DB&G, Mayberry, Alliance, Pan Caribbean, Captial & Credit, etc? None of these companies seem interested in offering forex trading services to Jamaicans. Strange…maybe they can’t find any good forex traders to manage their accounts. Anyone have any comments?
Oneil Says:
April 25, 2008 at 3:00 pm re 794 GEOMETRO ??? 795 PATTY,Regardless of the negative which is said of capital blu, let us think again. they pay between 2 to 7 % and they are transparent and legal in the usa, forget ja, third world dont count. To me that sounds attractive in these times where everybody turnibg out to be scammers/ponzis.Let us not be greedy, 10% days dun, lets play it safer in these times.
Patricia Says:
April 25, 2008 at 4:55 pm Oneil, ah hear ya, remember I gave him props for how he dealt with it and J’cans ability to transact such business abroad.I declare I’m still not a CBlu fan, but ah know bizniz is bizniz. But c’mon they were soliciting, nuh care whe dem seh ..so you check out 007 yet?
Oneil Says:
April 25, 2008 at 5:17 pm re PATMi nuh really work wid fbi or james bond, but who is 007 oneil901@yahoo.com, tell me whats going on sister, mi want to be rich like u lol
Oneil Says:
April 25, 2008 at 5:18 pm re 803 ie oneil1901@yahoo.com
paul h Says:
April 25, 2008 at 6:53 pm Yardy #787 also checkout Observer CBR September 28,2007 Making money by Forex Trading.
DR Says:
April 25, 2008 at 6:59 pm You all know, especially Pat, that I am not a fan of ‘DonBlu’…I find him talking from two sides of his mouth. ok, you are not soliciting funds, fine, I believe that BUT why you came here then?….Just for a free seminar?Where is the application to the regulator DonBlu? – - What happen, you not interested in applying anymore?You not soliciting, so why did I get emails? hmm? I think I know the problem- JAMAICANS chat too much…..ha ha you were hoping that you could come here, collect money, and move on without ‘the Rope’ finding out….. ha ha my friend… a no so it go!

Though Donblu arguments about transperency and consistency makes sense, I am still not turned on to 5% per month…. maybe eventually…. but not now….
Livin n Babylon Says:
April 25, 2008 at 9:08 pm Mark #785 – F1 does not have any concerns in their Platinum fund, because this is not Olint, but their “Gold” fund has historically been a gateway to Olint (A Plan). The Platinum fund is averaging 15% per month and their is no encashment delays. The principle trader is exceptional and does routinely produce these returns, so remember the naysayers will be after you for enjoying success! Also their principle trader is a protégé of SuperD, so again you will be ridiculed in your profits!
Rich Kid Says:
April 25, 2008 at 9:09 pm People ……MD finally post gains
Livin n Babylon Says:
April 25, 2008 at 9:34 pm Pat #802 – 007 is at http://www.bestfxtraders.com – I give them a so-so rating. I know the guy that started the fund and he then brought in a partner with some backing and got an exclusive contract with the trader. My “pro” comment is that the trader closes out each day and it’s a managed account not a club, both of which keeps your money safe. The “con” in my opinion is that the promoters are charging too much. Since the trader makes trades on a daily basis and they charge $10 per lot per turn, this adds up to a lot of commissions, which are then passed on to their “introducing brokers” (salespeople), then you get hit with the performance fee. Best of luck – 25k minimum.
dehustle Says:
April 25, 2008 at 9:37 pm rich Kid
De daises have in fact bloomed
Did U see 15, 10, 5 daises ?
Lisa Says:
April 25, 2008 at 9:53 pm some daisies bloomed 7.5, 5, and 2.5
dont know why.
dehustle Says:
April 25, 2008 at 9:59 pm Lisa
dem garden deh mussi did too BIG fe water di daisies proerly Aah… sometimes it pays to be asmall fry
Me thankful for it anyway as 2.5 % my bank pay me for the entire year
now if could get just through to CS…………..
Peace
moremoney Says:
April 25, 2008 at 9:59 pm rich kid and dehustleThe posting of gains and encashments are 2 separate things. Olint and lewfam update their accounts evarymonth. Bot getting the money out is another thing.
dehustle Says:
April 25, 2008 at 10:17 pm Moremoney
Gee Thanks I neva could have figured that out on my own
DH Says:
April 25, 2008 at 10:18 pm I am really surprised that we got 5% for march.
dehustle Says:
April 25, 2008 at 10:20 pm DH
So where did U think Jan & feb gains came from
….cell block B
moremoney Says:
April 25, 2008 at 10:39 pm lol dehustle…yu got mi
Rich Kid Says:
April 25, 2008 at 10:49 pm I am quite happy about the 15:10:5…but a bit sad that it was just thrusted upon us…..especially the 5%….it all boils down to communication ..or the lack thereof. Anyway give thanks and praises
GetRich… Says:
April 25, 2008 at 11:25 pm Not being greedy but I am sure MD “guaranteed” 15-20% a month. Anyway glad to see that the accounts were finally updated. Jan 15%, Feb 10%, March 5%, April 0%? May -5%? …
DR Says:
April 26, 2008 at 1:01 am oh Get Rich 819:-Please, have mercy….how do you expect to get rich with a posting prediction of 0% and -5%……
DR Says:
April 26, 2008 at 1:15 am well, I am still hoping that the 5% is a mistake, BUT it is far better that what I am currently getting on my savings account in the “regular” system…..which is about 5% per annum.I think it is better for the clubs to pay what they are really making instead of trying to force themselves into paying a consistent figure…..oh….the figure for March might be lower because of the legal fees.
Who knows?
Yardman On Wall Street Says:
April 26, 2008 at 1:53 am We will take appropriate action – FSC bosshttp://www.jamaicagleaner.com/gleaner/20080426/lead/lead2.html
DoItUrSelf Says:
April 26, 2008 at 3:31 am Well just got saw daisy blooms 15,10,5…Bit disappointed with the 5 but hey, coulda been -5 based all the happenings…need to now see my withdrawal in hand…1 stress down. Thank God!
DoItUrSelf Says:
April 26, 2008 at 3:53 am Actually when I think about it, it just me nuh trading never really gwaan one a de month dem so 15 Jan and di odda 15 split between Feb and March…mek we see how April go nuh?!
RedP Says:
April 26, 2008 at 7:04 am #822Good Morning Pretty Ppl,
Bwoy, anyway which way you look at it the establishment waan we eat sh#t an die.
We muss count the cow dem while MLC, G.Raper and croney of their ilk muss drink all di milk wid baileys an all nyam de whola cow to rahtid an juss leff di flippin tripe fi we.
DI SYSTEM IS A FRAUD. SURELY WE MUST BE IN BABYLON.NCB 4.5 billion profit last 6 mths. (On the news last night) Why are they fighting the clubs so hard? There evidently is more than enough to go around.
I’m just glad that I have to face my own judgement when I stand before the throne and not certain other peoples own. Woe be unto them.

BTW. It will be very interesting what the proposed commission of inquire into FINSAC will dig up. It looks like Omar is already starting to fight like a cornered animal. I wonder what he has to hide? As dem seh, “Long run, short ketch.”

Jus my 2 cents, more time nice ppl.

Love an Peace,
RedP
concerned Says:
April 26, 2008 at 9:14 am what is the big O returns for april??
Patricia Says:
April 26, 2008 at 9:24 am LnB, thanks, but I already know about 007.Sometime ago I had posted the link on the FX page along with an Audio clip from him. Apparently Kevin lost a few of those posts in archiving. The 25K min wasn’t a prob and I like his strategy. I know its not for everyone.hey MY DEARS, harvest those daisies ’tis always good to hear of harvest time. Dehustle…”cell block B” u r too funny
mark Says:
April 26, 2008 at 9:55 am hey guys check out this site called fxnationlive.com he gives out daily trades,has a managed acct,averages 300% per anum and calls himself the shark.I have been trading some of his free trades for about 8 months now on a demo acct. and he has been right most of the time.
mark Says:
April 26, 2008 at 10:01 am thank Lnb i just read your post i was just looking to not be so dependent on super dave,just looking to diversify .
mark Says:
April 26, 2008 at 10:04 am anybody still having to wait for olint to post internal transfer to otci. I am still waiting 6 weeks now.
Wan Spec Says:
April 26, 2008 at 10:08 am Mark you need to send an email to cattransfer@gmail.com. I had a transfer completed in less than a week.Now if I could just get my darned money……..
mark Says:
April 26, 2008 at 10:14 am Wan Spec be patient i got aencashment this week for jan 50% of the requested amount things will be ok by the end of may i was told.
Lisa Says:
April 26, 2008 at 11:10 am mark
i was having the same problem
when u log into otci go into account activity then go on the page itselg and click on get transactions its on your right hand as opposed to all the others on the left click it and it will bring it up for some reason the account is hidden.Dehustle
my daisies are of normal size thank you very much i think however the roots may be bulbous On a serious note i was told that for persons who did not send in the required documents there is a fifty percent penalty seems wrong to me.
DR Says:
April 26, 2008 at 11:29 am RE: 822 YardmanWhat is really going on? The again, I should not have asked that question, “The Enemies” nuh want no club fi legalise….and all of a sudden any “registered” company that decides to “help out” an unregulated scheme is going to be penalised? Is that so?UGI Finance might be “blyted” because of a relationship with “WW”.

Oh my, at least “WW” application is being processed…well the Law:-

The one full-Black PM we had said “The law is not a schackle” and guess what he is a lawyer….SMILE
DR Says:
April 26, 2008 at 11:30 am This article is so important, I had to print ALL of it here:We will take appropriate action – FSC boss
published: Saturday | April 26, 2008Shelly-Ann Thompson, Staff Reporter

The Financial Services Commission (FSC) said yesterday it was probing the connections between Neville Blythe’s UGI Finance and Investments Limited and investment scheme World Wise Partners Limited (WWPL) to determine whether UGI had breached its securities dealer’s licence.

On Thursday, Blythe, in the face of reports that his company was to take over payment of returns to the investment scheme’s clients, insisted UGI was not in partnership with World Wise, but did not deny a connection.

World Wise investors, some of whom have been reporting delays in the payment of their returns, were advised by electronic mail of the arrangement being made with UGI.

At World Wise’s offices this week, on Ruthven Road in St Andrew, employees of the investment scheme were observed distributing individual customer application forms and references for opening accounts, reportedly on behalf of UGI Finance.

Employees of the investment scheme also informed investors that for their monthly interests to be paid they were required to open a foreign exchange account with a financial institution.

As this was happening, investors complained inside the office that their returns for March, which should have been paid early April, had not reached their accounts.

“They say five to seven working days and is three weeks now and I don’t get no money,” said one woman.

World wise response

World Wise, meanwhile, in correspondence to its members, said clearly that payments would be facilitated by UGI.

“WWPL will fund your account at UGI Finance and Investment Limited. This is a new way for WWPL to accommodate client requests for withdrawals,” read the letter.

“UGI Finance and Investment Limited can accommodate clients wishing to open accounts with them.”

But acting executive director of the FSC, George Roper, said the business of funding an account and providing withdrawal services on behalf of an entity should be facilitated through a bank and not with a securities dealer.

As such, he has launched a probe into the dealings between UGI, a licensee, and World Wise, which is unregulated but seeking a licence.

“If the contents of the email are proven true, whether UGI is aware, whether such an arrangement like that was made. If so, depending on the findings, FSC will take appropriate action,” said Roper.

Blythe, when contacted, said Thursday he was unable to accurately speak to the issue as he was off for a few days from the office.

“This is some other mischief being made again,” Blythe quickly said.

“Just this morning I heard about it. I don’t know the details but is something being clarified.”

He directed further questions to managing director, Milton Hewling.

Hewling did not return calls made to his office over two days.

Roper said the FSC is now processing World Wise’s application for a dealer’s licence.

Reluctant to divulge much information regarding the investment scheme’s application to be regularised, due to legal constraints, Roper said the entity resubmitted its application after an incomplete submission was received by the FSC.

shelly-ann.thompson@gleanerjm.com
Bless Says:
April 26, 2008 at 12:11 pm Hi yu all, but did not Roper say on on CVM that Cash Plus could use a licensed security broker/dealer to act on their behave if they did not want to apply for a security licence themself?I am sure that what he had said but I guess he speaking about Cash Plus a special case and not a precendent so it does not applied for WW. Is he losing his mind LOL, brother, cock mouth kill cock.We need a Hilary re-play now now now

We must call CVM and ask them to replay that tape, rewind that one
keekee Says:
April 26, 2008 at 12:31 pm For all Ja Workers did you know that your pension scheme may be an UFO
Four of 520 pension fund applications finalised – FSC delay said ‘frustrating’ sector
All pension funds require licensing under regulations passed in March 2006.read the full article
http://jamaica-gleaner.com/gleaner/20080425/business/business9.html
PEI Says:
April 26, 2008 at 1:26 pm KeeKee ah nuh nuten dat. Look at social security in america that could be the biggest ponzi as to how it going people down the ladder years from now might not get back anything. Oh My.and I am still waiting O for a little lint in my pocket just a little lint in my pocket O lint my dear.
JK Says:
April 26, 2008 at 1:40 pm http://jamaica-gleaner.com/gleaner/20080425/business/business9.htmlbased on this article WWPL has a looooooooooong wait
Livin n Babylon Says:
April 26, 2008 at 5:28 pm Mark, Lisa #832 & 833 – Help me out on this one. Are you saying that Olint delivered half of the requested wire because your documentation was not proper – or – are you saying that Olint delivered half because this is all they could provide at this time and the remainder will be forth coming?
dreadlocks Says:
April 26, 2008 at 5:38 pm Wachovia Is Under Renewed Scrutiny After Report on U.S. Probe
http://www.bloomberg.com/apps/news?pid=20601087&sid=avM_8rymsDOQ&refer=home
Livin n Babylon Says:
April 26, 2008 at 7:16 pm Wow Dreds – thanks for the update. This is an ugly read. Hopefully this statement will not apply to us:
The report “couldn’t come at a worse time because of the problems Wachovia is having,” said Ken Thomas, a Miami-based banking consultant.
Overchill Says:
April 26, 2008 at 7:24 pm 839, that actually looks like Saddam Hussein a bit
Seems they’ve been doing a lot of finger twiddling in that office wondering what they can do.
JohnDoe Says:
April 26, 2008 at 8:09 pm WW letter is still Misinformation. World Wise has NO SPECIAL ARRANGEMENT WITH UGI.All that happens is that they are telling you to open an account with UGI or in fact with any investment house(JMMB, BARITA etc). You then tell WW your UGI, JMMB, BARITA account information and they will “send” the money to that account at the investment house. You can then withdraw your money from the investment house. Creative.I tell you the investments houses better watch it. Bear Stearns and Wachovia got in trouble with this. Situation real delicate for real.
Lisa Says:
April 27, 2008 at 8:50 am Living in Bab
it was MD that we talking about and no it is not a deferred payment it is a penalty of 50% of you gains that is taken away because of what they term non compliance. I am sure the others will have something to say monday as i hear is a good amount a people it affects
mark Says:
April 27, 2008 at 9:56 am Lnb I am investing in olint thur a relative and we put a request for an encashment in jan., last week we received half the amount requested by wire transfer .
mark Says:
April 27, 2008 at 9:59 am we requested about 40,000.00
Truths Says:
April 27, 2008 at 11:34 am This is what happens when proper controls and due dilligence is not in place:http://consumerist.com/384212/wachovia-to-pay-144-million-for-bilking-gullible-seniors
ThinkAndCheck Says:
April 27, 2008 at 11:38 am Think and check fi true.
Puzzled Says:
April 27, 2008 at 11:42 am How much bad customer service can a person tolerate before they call it quits and pull out completely?
carleena Says:
April 27, 2008 at 1:48 pm what is the latest on WW are people getting their monies? is UGI paying out on behalf of WW .can any one shed any light on this….
JK Says:
April 27, 2008 at 2:43 pm “I pick up my cheques today from world wise…. I didnt have to go through UGI and its probably because of what was in that papers today..
they phoned me lastnight and told me to come pick up the cheques today”dated april 26th
JK Says:
April 27, 2008 at 2:44 pm btw thats from another blog
carleena Says:
April 27, 2008 at 3:38 pm jk you mean they call you from WW friday night to pick up cheques on saturday.and when did you fill out the two forms form UGI and the amendment form from WW if you did any.peace..
rexton gloudon Says:
April 27, 2008 at 4:43 pm mi kinda curious as usual. wid all weh a gwaan wid di respective schemes re FSC, banks,tax implications et al isn’t it safe to bet that there will be a run if/when things finally settle down?
Jay Says:
April 27, 2008 at 5:57 pm There are currently over 15 UFO operating in Jamaica and who are said to be involved in forex trading.1. Anyone wants to give me an educated guess, as to why they are so secretative and refuses to follow the laws of the country and gets regulated.2. What if the Ministry of Finance via the FSC/ BOJ decides to shut them all down, do you think you could all get back your monies ?

3. Jamaica is one of the few Countries in the world where forex clubs seem to be generating profits every single month – barring none. Does’nt anyone find that a bit odd.?

Honest responses please, and dont even begin to chastise me, I really want people to think clearly in their responses without the emotion attached to it.
Pual Says:
April 27, 2008 at 6:17 pm Jay, I give you 2 more days on this blog before the “driva” ban you for life and/or delete your posts.This is not the blog to ask intelligent questions or make excellent comments. Its not solicited, wanted or welcome. The people that invest in these schemes knows its a ponzi. Their objective is to go in early and exit before it crash. Plain and simple. They might use words like “investing” or other colorful words, but they are fooling people like you that take them serious.
DT Says:
April 27, 2008 at 6:32 pm Paul, If u and Jay come to the conclusion that the pple on dis blog don’t like intelligent discussions, then why come here? Why not go to other blogs like say cashplusinvestment where there is a world of ‘intelligent’ discussions there?
DoItUrSelf Says:
April 27, 2008 at 7:12 pm Jay, the gains being given here in Jamaica are not exhorbitant or unrealistic…I am trading my own funds and, so far, make 25 to 32% per week…and I mean being modest. I trade 3 or 4 times per week to get those results. So honestly it can be done!
Jay Says:
April 27, 2008 at 7:27 pm DT @857.I can speak for myself, Paul offered a response to my question, what say you.
I did not say a word about folks not wanting intelligent question or comments.So what is your response to my post above@ 856.

DoitUrself@859.

Now I am not saying you cannot make a gain of 20-30% per mth, all I am saying can you do it consistently every single month.
Statistically that is highly impractical.

Now suppose O and MD and the other are really that good, why not become regulated so they would not have to be hounded by the BOJ/FSC/NCB etc.

I will tell you this, the day WW gets a license from FSC to operate, they will not have fund managers on hand to deal with the inflow of cash that will be coming their way.

The sad part however is as noted in the papers recently, only 4 out of 450 pension schemes have been approved so far by the FSC, which seems to suggest a serious lack of man power at that office or pure incompetence on their part.

We shall see.

I am sure the driver will not see it fit to ban me from this site
carleena Says:
April 27, 2008 at 7:27 pm jay is WW a ponzi
Jay Says:
April 27, 2008 at 7:53 pm Carleena @ 861.At this stage WW is trying to get regularized.
They seem ready to be a transparent organization, which is willing to provide audited financial statement to its clients.Now just because a company is taking the necessary steps to become a legitimate trading house does not mean it could not run a ponzi type operations, however the records will be there for you to look at and make your own decision.

At this point in time I am only willing to say that the move by WW is very good and of all the UFO seems to be the only one who is willing to be forthright with its clients.

As I said above if/when they get a license, they will not have hands on board to deal with the increasing number of clients.
JK Says:
April 27, 2008 at 7:58 pm what i posted was from another blogbut i heard a rumore that ww may be increasing the amount to enter once again to deter a rush to put money in
at this point i heard it was going to increase the minimum to 10k us ………… dont quote me on that one because it may just be rumore
Wan Spec Says:
April 27, 2008 at 8:33 pm Jay – # 856 – My theory is that Olint IS involved in forex trading. I cannot explain why it will not cooperate with the authorities and register. It might have something to do with the ‘jack-booted tactics’ used by the FSC during their infamous raid on OLINT. I was told that the raid really affected David Smith.When OLINT got shut down it created an unsatisfied demand / opportunity which these other clubs rushed in to fill, in Cash Plus’s case it expanded.How many of these other clubs are ‘genuine’, is anyone’s guess. Some of them were obviously fake from the beginning (Higgings Warner), some of them seemingly genuine (LewFam).

It would be a very remarkable occurrence, if Jamaica suddenly started sprouting all these Forex traders all making these consistently remarkable returns all at the same time.
wait a minute Says:
April 27, 2008 at 9:04 pm Hey Guys
We need to look into other forms of investments, yes I know multi level marketing can be crazy, I have looked and done quite afew however this on seems interesting and I decided to join not only do I benefit from the travel discount, I am also getting paid!investment is low and if you’re planning a trip you basically get your investment back, already saved $700.00 going on a European cruise. http://www.forresttravelandtours.com, feel free to read the company presentation ,link me if interested, my friends who I consider extreamly comfortable (money wise)presented this to me , she joined 5 weeks ago and already made 6k! I must say they’re very active with it and says they’re in it for the long haul.Don’t need much transperency:-)And yes I am a member with most of the investment clubs and have a fair amount invested.
paul h Says:
April 27, 2008 at 9:27 pm Wan Spec et al,just a little background for some clarity.DS started trading for close friends (church bros. etc) while at JMMB.Word got around in their circle and others asked to to be included.DS approached both the BOJ & the FSC for guidance .None had encountered this new phenomenon and were unable to provide any info with regards to regulations etc. In the meantime the club continued to grow.LF conducted a family life seminar and barely mentioned how they were now funding their ministry including fx trading.This was merely sharing info not solicitation.Much to their surprise most of the follow up was about this club.After much thought and prayer LF was formed as a facilitator.Now one of the questions should be …did they grow too big, too fast.I think so.When I was with a certain bank in the ’80’s our customer base was approx 1000 with a branch staff complement of 21 and back up from data centre and head office.Yet I personally worked from 7:15a.m. to 9:30 pm every day and I would go in on Sat. & Suns. for a few hrs. So can you imagine what DS has on his hands if things are running smoothly much less in these days of uncertainty.Getting qualified experienced staff.Training frontline staffers and I could go on and on.Think about it.
paul h Says:
April 27, 2008 at 9:29 pm RedP, I know you will concur.I too scaled down and am running a small business an’ is headache.
DR Says:
April 28, 2008 at 7:48 am Dr Garth Rattray speaks:http://www.jamaicagleaner.com/gleaner/20080428/cleisure/cleisure2.html
JohnDoe Says:
April 28, 2008 at 9:46 am With due respect, I think the doctor needs to stick to medicine.If the doctor needs help with investing decisions, I think he should find a financial advisor. There is no egg on the face of the FSC but some allege a big grin.Putting it in medical terms,Doc, this is a case of the patients blaming the doctor, when they have a heart attack after the doctor warned them that greasy food increases cholesterol levels. It is like a smoker blaming doctors when they get lung cancer, despite ignoring the fact that smoking is the #1/#2 killer in the USA and many other countries

People need to take personal responsibility and stop blaming everyone except themselves. The message is simple, check before you invest.
Bless Says:
April 28, 2008 at 12:14 pm Johndoe, let see if the doc is madFor us to compare we must work in a common currency so we are going to work in US dollarso the first question is how much does the Jamaican dollar value in terms of the US dollar.

I got $0.014 US i.e 1.4 cents US

Buffet say he gets approx. 25 cents profit for every dollar invested per year, so he was getting 2 cents per month or
for every $1000 he was getting – $250 profit per year
for the month – $20.8

In Ja Now at
Bank – at 8% p/a we are getting 0.00112 dollar(US) per year or $1.12 US for every $1000 JA invested per year or 0.00112/12 per month tax included

Let take a scheme that was paying the lowest

Cash Plus came about say ing they will give us 10% per month
so for the month we were getting 0.0014 (US) or for every $1000 JA we would get $1.14 US per month, for the year approx. $16.8 US per year

Now you tell me that we were greedy to go into these schemes as you keep tell us or were we desperate – as the saying goes a drowning man catched at a straw

The price of the basic commodities – housing is approximately the same JA as the USA a one bedroom apt approx. $100,000 US – $7,000,000 JA

Food – imported from the US

Clothing -imported from the US

Inflation in USA – approx. 5% p/a
JA – 15% more or less

Many of us don’t run a businnes so we cannot pass on these costs to the consumers, we are the consumers on a fix income.

Survival say to us we need to step outside the box
Livin N Babylon Says:
April 28, 2008 at 12:30 pm I’m checking out soon. I will no longer post as Livin N Babylon, although this is still the case. I am now leavingbabylon!
leavingbabylon Says:
April 28, 2008 at 12:31 pm Gravatar test post.
jay Says:
April 28, 2008 at 12:41 pm Bless don’t get stressed.The basic point here is, if we continue on the path you mentioned above of investing in every “fly by night” investment scheme, the majority of us will no doubt get burnt, and badly I may add.While I understand your point, the fact is, the majority who invest in these schemes will no doubt end up poorer at the end of the day.

I think we need to take a more long term approach to investing, which though slower, will reap relatively good rewards.

Now I am not saying for example that you should not take risk, but for heaven sake we often take very unwise risk and then say ” Bwoy mi salt een, if only mi did go in earlier”.

Don’t you find it a bit odd that “all of a sudden” everybody is a forex trading guru.

Are they really making money, and if so why not just follow the rules.

I can tell you that anyday one or two of these schemes gets regulated we cannot get enough fund managers to handle the influx of cash.

In the interim, we can only be led to believe that there maybe more to it than meets the eye.

“As dem seh, once bitten twice shy, but laud man some of us dun get bite all 4 times a ready and still a do d same ting”.

Now forex trading can indeed be very profitable, but be prepared for the losses which will come along the way.
jay Says:
April 28, 2008 at 12:45 pm Most of you here do not post in the other tabs at the top of the page, however check out my post under “Mutual funds and Stocks” entitled.
“Michael Lee Chins picks another winner”.Food for thought.
rexton gloudon Says:
April 28, 2008 at 1:28 pm Danhai williams case get thrown out. That sets a precedence in jamaica now. All yu haffi do fi get off a case is ensure by whatever means (send dem go foreign,threaten dem relative or kill dem) seh di witness nuh turn up fi court. Jamaica done now.
jay Says:
April 28, 2008 at 1:43 pm Rex.$450M down the tube.
Trying Says:
April 28, 2008 at 1:53 pm #757 Stress now BlessedI need your assistance with the MD issue. I have emailed them three times with requested info. but my account is still inactive.you can email me at sprier2003@Yahoo.com
Island Girl Says:
April 28, 2008 at 3:23 pm It is my view that Jamaica really does not want to regularize these schemes. They say come in however I get the feeling they really don’t want them here. BOJ governor I understand is totally against forex trading as an investment vehicle. I am waiting to see if WW will be issued a licence or they are going to try and find every means not to give them. It would be good if they got it though. Although the rates would be much lower I believe. Why doesn’t the regularized players offer something different to its clients, like forex trading, all they offer are stocks, bonds and mutual funds. Can’t they see clients want more.
JK Says:
April 28, 2008 at 3:24 pm ok i called ww today an also visited the officesthe whole ugi thing is basically for those who usually collect chequesif ur banking information is already there u do not have to worry as it will be transfered to that account when requested as usual

and i also ask if their system upgrade is finished……….the answer is NO so expect more delays with ur online account balance updates

no for the rumore mill……..i heard they may be considering raising the minimum requirements to us$10k sometime in the near future
DR Says:
April 28, 2008 at 4:38 pm JK if they go to $10,000 well that will exclude ALOT of PEOPLE…sounds like they will be trying to match the big boys club…ha hah ah ah …
DR Says:
April 28, 2008 at 4:40 pm There are quite a few BIg Boys clubs around..I am not at liberty to speak about them however….remember that one ME….ran by A$an…the minimum was $25,000. Oh Boy….
JK Says:
April 28, 2008 at 5:05 pm well from what i see is the small investors are the one who run pon them all the time so them trying to keep those out
Pip Unit Says:
April 28, 2008 at 5:27 pm Lewfam Update…. Received my encashment today. Took 3 weeks. Good Times.
RedP Says:
April 28, 2008 at 5:46 pm Hey Guys,
Did anybody see the advert on page 5 or 6 in todays observer seeking to hire 10 forex traders?
I dont have the add on hand but the comp. definately didnt sound familiar.
I wonder if its the one that Ji$$a is supposed to be setting up.
BTW, The add asked basically “If you are dissatisfied with $10 MIL/annum come and work for us!!Bumbaat daag!! Mi a go lack shap, call up Jared an beg two lesson!!
Over 10 Mil/yr salary!! Kiss mi granny neckside!!
My step brother has two bredren that work for worldwise, I’ve heard that they make some good corn, but 10mil!!
As DR says, Oh Boy.More Time
RedP
Mercury Vapor Says:
April 28, 2008 at 5:55 pm Re: Post 878Island Girl said: “Why doesn’t the regularized players offer something different to its clients, like forex trading…all they offer are stocks, bonds and mutual funds. Can’t they see clients want more.”Island Girl, I’ve been wondering the same thing. Forex trading is so popular in Jamaica, so where is JMMB, Capital & Credit, Pan Caribbean, DB & G, Mayberry, etc.? Why are none of the established investment houses offering forex trading services to clients? There is a huge demand…maybe it wouldn’t be very profitable for them. They are making billions of dollars right now and if they introduce forex trading it might actually reduce the profits they are making. Or, maybe they are engaged in forex trading right now, but they are not offering these services to the Jamaican people. They trade forex, make huge profits, and keep the profits for themselves.
Mercury Vapor Says:
April 28, 2008 at 5:58 pm Hey RedPWhat is the name of the company looking for forex traders?
Jay Says:
April 28, 2008 at 6:25 pm Mercury Vapour@885.Check the Income statement of Mayberry for 1st qtr 2008.
Didn’t DS work at JMMB trading forex.BTW Mayberry gains from forex trading went up 500% first quarter 2008 vs the first quarter 2007.

Did anyone look at the gains made in forex trading vs the same period last year.

Last year they made just over $6m and this quarter they made just over $37m or a gain of over 500% .!!!
Roli Says:
April 28, 2008 at 6:42 pm Just a question. Does anyone believe that D.S Due dilligence is still a sham. I find it quite hard to believe he is not telling the truth. Alot of people were saying that there wasn’t anything in the news regarding Wachovia. All of a sudden a month later all these news about wachovia keeps popping up. Was he really telling the truth? Seems so to me, only time will tell.
http://www.bloomberg.com/apps/news?pid=20601087&sid=avM_8rymsDOQ&refer=home
Mercury Vapor Says:
April 28, 2008 at 7:00 pm I was doing a bit of research on the internet and I found the performance record of Cap Blu’s CBM FX managed account. The number beside the month is the percentage gain, and if there is a (-) then there was a loss for that month. Eg. In January of this year the CBM FX made a loss of -6.22%. Also, the total profit or loss for the year is at the bottom.2006 2007 2008
Jan 4.78 6.80 -6.22
Feb 5.90 6.30 9.90
Mar 3.94 6.50 9.68
Apr 7.70 5.68
May 8.30 7.80
Jun 5.30 3.23
Jul 2.67 4.87
Aug 5.60 1.91
Sep 11.24 -13.98
Oct 8.45 -4.62
Nov 7.32 -0.73
Dec 4.70 2.76Total 108.19 27.19 13.04

The minimum investment is $25,000 and Cap Blu charges an incentive fee of 30% a month. I found this information at this website:

http://www.altavra.com/managedfutures/develop/advisors/capitalblu.htm
Mercury Vapor Says:
April 28, 2008 at 7:03 pm AAAHHH!!!! The table didn’t come out right! Ok, if you want to see the performance of Cap Blu’s CBM FX managed account, just go to the website:http://www.altavra.com/managedfutures/develop/advisors/capitalblu.htm
Ronnie Says:
April 28, 2008 at 7:17 pm Roli #888Here is an even more fundamental question. Does anyone really know if DS has an account with Wachovia and if so, what kind of account? There is no transparency and so a lot of this is speculation. All one can do is look at available facts and make logical inferences.
Jay Says:
April 28, 2008 at 7:50 pm Ronnie@ 891.That is the fundamental point regarding the alternative. Most of the information you get on your “investment” comes from places like these website.
That is definitely good, this is the only type of investment folks place so much money in yet gets so little in terms of how the funds are being managed.Can you imagine if you had to get information on a db&g, JMMB, Barita , NCBCM from a blog, tsk tsk, I am sure we would feel very uncomfortable about that.

DS may very well be having problems with his bank, but with so much happening re other alternative, people will no doubt get nervous, and left to just speculate on what is really happening.
PEI Says:
April 28, 2008 at 7:59 pm Ronnie the man already said his broker’s account is with Wachovia. This go over so much already. Plenty more withdrawal than usual. broker have increase withdrawal at the bank bank concerned as broker profile now change big time. plenty questions and due diligence. Wachovia have problems already with diferent things including federals investigating them allowing dirty money to pass through them. We dont need no speculation again. whether him have account there or not who care right now. what can we do?.Nothing as we just cant get no money and we dont know nothing. That include you too.Anyway even if the due diligence true or not the bank would never tell anyone as the banks will not talk about something like that.When end of May come and we hear same story or hear that is june or whatevr then me just right off that money. done with that and move on.
Jay Says:
April 28, 2008 at 8:06 pm Mercury Vapour,The 30% incentive fee is based on the new water mark on a monthly basis, let me try to add a little clarity to what that really means.
eg.
Lets make some assumption.
Total funds under mgmt = US$10M (Trading account)1.Jan account grossed say 10% , so Gain = US$1M .
Incentive fees due to Capital Blu would be 30% of $1m = $300k
New trading Balance now equals $10.7M – New High Water Mark

2. Feb account lost say 5% ie $535k
Because there is a loss this month there is No new high watermark so there is no incentive fees payable to Capital Blu.
New Balance at end of Feb = $10.7m – $535k = $10.165M

3. March account grossed another 5% ie $508,250.
Now even though the account went up, it failed to pass the watermark set in Jan.
Ending Balance for March = $10,165,000 + $508,250= $10,673,250.
Because this figure is less than Jan balance of $10,700,000 means no incentive fees are payable to Capital Blu.

I hope that adds some clarity to this incentive fee.
PEI Says:
April 28, 2008 at 8:19 pm where is enlightened to tell us what going on?
Yardie Says:
April 29, 2008 at 12:22 am Jay – #793. Thanks for the link to Dennis Chung’s Fx research.
Nuff respect.
jay Says:
April 29, 2008 at 6:04 am Check out number 2.http://www.jamaica-gleaner.com/gleaner/20080429/lead/lead7.htmlWhat will they think of next
DR Says:
April 29, 2008 at 7:35 am CArlos again: (bail)http://www.jamaicaobserver.com/news/html/20080428T200000-0500_135058_OBS_LAWYERS_TO_TAKE_CARLOS_HILL_BAIL_REQUEST_TO_SUPREME_COURT.asp
DR Says:
April 29, 2008 at 7:42 am Mr. Lee-Chin to get a honorary degree….. I wonder when will David, Noel.S(WW) and MyDear, get there degrees.http://www.jamaicagleaner.com/gleaner/20080429/news/news4.html
DR Says:
April 29, 2008 at 7:51 am My friends would not get degrees for Customer Service though.
(So Sad)
Cdk Says:
April 29, 2008 at 8:30 am BELIEVE IT OR NOTDo you remember the 10M US dollar loan that the finance minister negotiate in last 2007 August to September with IDB. Well is did carry string attached to it. Part of the string was that: There is too much alternative schemes in Jamaica and since C+ is the largest of them all you have to get rid of it.The finance minister sent a copy of the letter to CH since him get 150,000,000.00 from C+ as general election fund – the other party get undisclosed amount.

CH summaries the aim (of the government) was to close down his enterprise after the 80% of BOJ employee and some big money people close their accounts. Did you know that a meeting was kept at BOJ in September 09 with bankers, regulators and the government and that the topic was to rid the country of all scheme. (The BOJ governor tell its staff that they are going to closedown C+ so they must go and take out their money.)

When the PM realized the plan run on C+ did not work him personally tell the FSC to act using the C.D order against it.

When them search CH home and lock him up the police did not have any search warrant. The aim of the search is to find the copy of the letter that was sent to him because if that leak out it a go look bad on the government.
The government sold over 40,000 small investors for US $10,000,000.00. It is rumored that government is presently in discussion with CH in detention to work out a deal.
Either which way the deal cut is one of two things: The involvement of this capitalist government suggested that we will get next to nothing of our investment back or they will hold CH in detention longer than usual

CH is not without blame, he did have all the time in the world to make a proper arrangement to pay investors
You must by now know that CH has Trading Platform in China with a number of Chinese traders working for him. Our government found out that too. C+ has the money can pay everyone forty times over.

Wired fund to O and C+ accounts were denied many times by our local commercial banks
pete Says:
April 29, 2008 at 8:46 am CDK the plot thickens
OneJam Says:
April 29, 2008 at 9:37 am CDK interesting, BUT can u point us to anything to prove this. If you can prove this any/some of this I will get this OUT in the public very big. Give me something.
PEI Says:
April 29, 2008 at 9:54 am CDK the meeting was September 08. You post say 09. Plnty people get tip off between last summer and september that a big move was coming and them should pull out of C+. Anybody who have friend in the banks them can find out bout the big man checks them that pass through between July august and september last year.samething with the O the banks them meet over locking them down. NCB banker in newyork say them have to close O. IMF telling government from 06/07 too much schemes and problems with iinflation. Also after NCB and BOJ did deal with C+ then they increase the pressure on O, thats why by October 08 the big man them get them tip off and them pull out. Remember that Jamaica is one little place and everyone know someone and nobody cant keep a secret and all will come to light. Not everything that people will say is true but plenty of the truth will come out.one thing you can say Mr clarke never get mix up mix up in what was going on. Him never want any of it in his bank. Remeber him say that they have to preserve the integrity of the noble institution. him was also throwing words at the other bank them they know who they are.
OneJam Says:
April 29, 2008 at 10:22 am CDK if IDB did this it is against the policy and heads will roll at IDB. Give us something to start and I will start the process to break it big and get the heads to roll.
Bless Says:
April 29, 2008 at 10:35 am CDK Get the proof out there so that we can mash up this thing once and for allProof, proof proof.We need it to put the ball in our court now.

I had read the case transcript against Carlos and I notice that part of it dealt with Commoditity Futures Trading Commision (CFTC), so I deduce that he knew about it 30 years ago so he must be involved in it so I am not surprise.

I hope that they did not find the letter and he has that in a vault that’s his life line.
RedP Says:
April 29, 2008 at 10:36 am #886
Mercury Vapour,
The add didnt specify the company name. It just said to send resumes to worldnetemployment@yahoo.comIf you get the job, my head hunting fee is three months salary!! More time, RedP
Debrish Says:
April 29, 2008 at 10:49 am 757 Stress now BlessedI need your assistance with the MD ASAP. I have emailed them over 10 times with requested info and my account is still inactive this was well before the update of gains.I also tried calling them till i am blue with no luck because I requested money from early Feb with no info on getting paid.

hmasol@gmail.com
Independent Says:
April 29, 2008 at 10:57 am Debrish I am in the same situation with Olint, i guess the answer is yuou just have to wait
leavingbabylon Says:
April 29, 2008 at 11:19 am DR & JK 880-882, Just a quick note on exclusion. This is exactly what the entire Olint issue is about. The securities people feel it is their job to keep Ma & Pa investor away from anything high risk (forex clearly is high risk, so is opening a gas station, convenience store, laundry service, etc. but that’s another issue). The securities people also have a deep dislike for hedge funds, private equity, investment clubs, etc., because they operate just barely outside their legal pervue. However, the “great exchange” of this regulatory exclusion is that you (the hedge fund manager) leave the common person alone and only deal with sophisticated / accredited investors. So around the world, you will find the minimum investment to a fund (such as any investment club – where the club takes custody of your money) is $50,000 USD. This is true for BVI, Netherland Antilles, Cayman, Cyprus, on and on, which only goes up from that minimum established here in Babylon.Your only other option is a managed forex account, which can take smaller amounts only because they do not take custody – the broker-dealer (much like a bank) is the one taking custody and the traders only have a limited power of attorney to trade your funds with the right to keep a performance fee. Hedge Funds cannot hardly operate accepting non-qualifying parties (legally they can accept 35 of their 100 slots if they can put up the 50k), because you are not allowed to charge a “performance fee” to anyone with a net worth less than $1.5M USD. So you can see what a mess this kind of stuff is to someone from a securities background. All they see is a bunch of Ma & Pa investors getting rooked by some company that has the gall to accept non-qualified people with these absurdly low minimum accounts. The minimums are there to make sure you the investor cannot afford to invest.I’m sure for most of you this is old news and some will claim this is the old Robin Hood style defense for David, but this is the same thing that I’m going through. It is David versus Goliath. Olint is doing something remarkable and yes it is absolutely despised. The securities world is trying to centralize all futures & commodities trading and the SEC is affecting every court in the world through increasingly intrusive and punitive regulations. This is why I get so annoyed seeing Ja-attorneys and courts using US case law to reach a verdict (legislate from the bench).

If your own laws do state that something is illegal, why should anybody be challenged for operating within the confine of the laws (conducting a legal business). This notion that Babylon has the answers is absurd. I know it’s old news, but the Jamaican Government should have told the FSC to back off when Olint complained. When the FSC brought suit against Olint, the court should have said, “You have a point. FSC – go to the law makers and explain how the US handles these matters. Olint – have a nice day, forex is not currently covered under Jamaican securities law, therefore you are free to continue as the law allows.”

The only way David can simplify his life is to dump all US investors and require everyone else to only make withdrawals through a Compass card and only make deposits through checks mailed to Hallmark Trust in Turks Caicos. This would be expensive, time consuming, and inconvenient, so if we want to see business continue as usual we have to participate and be patient.
Geotrdr Says:
April 29, 2008 at 11:20 am @ Jay 897Check post 865. Maybe thats her? lol.As for the Fx Trader ads. A lot of the banks did have fx traders before fx trading made a name for itself in JA. Just never made a deal about it. Im sure some of them are looking to beef up that department so that they can offer some kind of Fx product. As for the ads…..who knows could be anybody. It could be CB looking to stock up on traders. Could be…NCB,RBTT, FCB.
jay Says:
April 29, 2008 at 11:49 am A do-it-yourself guide to forex trading
http://www.jamaica-gleaner.com/gleaner/20080113/business/business7.htmlBest to stress yourself knowing that you can get your money when you need it rather than giving it to other and having do deal with1. Unanswered emails
2. Long wait for encashments
3. Poor communication
4. No access to account information.

Note however education is key as research has show than a significant portion of “do it yourself traders actually lose”.
moremoney Says:
April 29, 2008 at 12:16 pm pip unit how much did you request and how much did you get?
Mercury Vapor Says:
April 29, 2008 at 12:53 pm RedP said: “The add didn’t specify the company name. It just said to send resumes to worldnetemployment@yahoo.com. If you get the job, my head hunting fee is three months salary!!Hahaha…RedP yu a di best! A wah kind a extortion dat man! I’m not looking for a job as a currency trader, I’m in college…studying to become a teacher. Big, big demand for teachers in Texas…especially in math and science. I like reading about stock and forex trading though, it’s very interesting.

Thanks for the info RedP!

Peace
jay Says:
April 29, 2008 at 1:35 pm Will forex trading ever become a licensed operations in Jamaica.
Will Jamaica license financial institutions ever be able to offer forex products.A lot of writers have given the stick to our regulated institutions for not offering to the public forex products, but look at what they are saying.Dealers seek leeway to issue forex instruments.
http://www.jamaica-gleaner.com/gleaner/20070629/business/business8.html
Floridan Says:
April 29, 2008 at 1:37 pm So while we who invested in the Lint factory are patiently awaiting our lint balls and are hearing all kind of different story why we can’t get pay…Mi hear that Super Dave throw a Super Party for him birthday down in Turks and Caicos islands the other day… And that him all send the lear jet down to Jamaica to fly in some of the guests for the big shibang…Those who have them connections, please find out if this is true because me want to know is what really a gwaan…
Mercury Vapor Says:
April 29, 2008 at 1:42 pm So wha’pan Floridan?! Di man cah enjoy himself! Yow, I mean is just owr money him a spend!
FuzzyOriginal Says:
April 29, 2008 at 2:33 pm Well,
Last year the party was held April 14 in Kingston the Saturday after Easter, therefore it is quite likely it was moved to TCI this year. No matter what, people have to enjoy themselves.
Floridan Says:
April 29, 2008 at 5:03 pm So when Rome was burning and Nero was fiddling, we shouldn’t cuss off Nero for having a good time????hahahahahahahahahahahahahaI hear yuh… Alright then, mek mi chip in… Happy belated birthday Mr. Smith

Now when mi a get mi money??? Next week??? Again???
Stress now Blessed Says:
April 29, 2008 at 5:21 pm BREAKING THE SILENCE…Debrish and Trying
I have responded to you by email per your request.
*************************************TO: All MD Members
It is evident that many people rely on this forum as a source of information for what is happening in MD.

FYI-
My last verbal communication with anyone at MD was on April 17th by way of a phone call from MD. I have been unsuccessful in reaching anyone in CS since then and I have sent several emails that go unanswered.

CUSTOMER SERVICE:
I do not know of one person that communicated with MD verbally in the past week and it is therefore my assumption that the phones are NOT being attended to.
Early in the morning or late at night you get the message “this mail box is full.” Pending messages are not being accessed and responded to or cleared to make room for new ones.

CUSTOMER DIS-SATISFACTION SERVICE
It is clear that MD is on its own agenda at this time. They do not post gains for over 3 months then they post within the range of 2.5 – 15% with absolutely no rhyme or reason, explanation or communication not withstanding the agreement signed between MD and members for 15-20% p/m. They close and deactivate accounts at leisure WITH and WITHOUT good reason to members. NO general communication since April 22nd when they made the promise to post gains, which ‘post’ they did.

QUESTION:
What are we waiting for them to do before we take action?

Should we wait until they MINImize themself, CASH out with our money, disappear without WARNing before we take action?

ACTION:
EVERY MayDaisy member should write a letter requesting BETTER customer service and BETTER communication.
******************************
Email ALL the following:
Maydaisy.memberinfo@gmail.com
visiontechnow@yahoo.com maydaisy.memberinfo@yahoo.com

ENOUGH IS ENOUGH – BE HEARD!
Jay Says:
April 29, 2008 at 5:48 pm Blessed, the sign is clear as it relates to MD.
C- was doing the same thing before we heard there was “no money”.
Take action now before the doors are closed?
BTW does MD have an office in Jamaica or is this all internet based ?
danews Says:
April 29, 2008 at 5:53 pm it shows how tenuous the link with the clubs are.you can only ventilate by emails as most can not be reached by phone ..and is cutting back on customer service time.this is not only high risk, but high stress
Bless Says:
April 29, 2008 at 6:44 pm Jay #915Why would the regularized dealers need leeway to issue forex instruments since forex is a security instrument accord to FSC and Olint was suppose to apply to them so that Olint could do forex trading. Why is the dog trying to bit his tail thus travelling in a circle.When Olint was in JA he went to FSC seeking advised as to how to regularize, FSC sent him to BOJ, BOJ sent him back to FSC and the tales continue.

Now Keith Duncan is saying there is no legistative framework for Forex trading so how was Olint to be regularized.

I guess status quo are of the opinion that we, black people are so stupid they can tell us any thing, spin us like a top and we will just continue to grin as clueless as ever.
Wan Spec Says:
April 29, 2008 at 6:53 pm Bless # 923 – “Now Keith Duncan is saying there is no legistative framework for Forex trading so how was Olint to be regularized.”The Jamaican Supreme Court in its December ruling disagreed. According to the court’s ruling, Olint’s investment contracts are securities. What Olint was trading in was secondary to the fact that they were taking funds for the public and ‘investing’ them on behalf of the public.But I do agree that we should establish some legislative framework for forex trading in Jamaica.
FUD-Buster Says:
April 29, 2008 at 7:01 pm Too much speculation and rumour business going on. Everybody claiming to have the inside scoop on the conspiracy theory. Why people haffi stay so?
jahbilly Says:
April 29, 2008 at 7:11 pm 94 Wan Spec
Were you ever with vmbs?
Bless Says:
April 29, 2008 at 7:11 pm So Wan spec, how was Olint going to conduct his forex trading business if there is no framework and that was the core of his business.He would applied to the only to discover that he can’t trade forex.Do understand now why WW application can’t be touched. The regularized dealers are asking for changes but according to FSC once you have the securities licence you can trade forex

So what is the deal?

I hope that the club members demand some answer from the FSC and the government.

Are you member of Olint?
DR Says:
April 29, 2008 at 7:30 pm Snb, thanks for those email addresses….It is the first time I am seeing some of them….I am upset too….and if this continues…I am going to make an alarm….and you know I know the BIG SHOTS!They better pay at least 15% for April, and give me my money…let me go…I am disappointed with MyDear….. no communicatition…but then I guess that what “new love” does to you.
DR Says:
April 29, 2008 at 7:32 pm sometimes when u call MD you get a busy signal, and then the next time it rings without an answer…..hide and seek?
Ronnie Says:
April 29, 2008 at 7:39 pm The current framework in JA is apparently like this. If you accept money from the public and promise a return on that money then you are issuing securities and need a license from the FSC. If you are dealing or trading in foreign currency then you need approval from BOJ.This means a company trading forex for clients would appear to be an issuer of securities or a securities dealer needing a license from the FSC and also require approval from BOJ to trade forex.
Wan Spec Says:
April 29, 2008 at 7:44 pm Bless # 927. You don’t need a law to be able to do something. In a free country, you are generally free to do anything you would like unless it is prohibited prohibited by law of some sort (case, statute or natural). What is needed is a law dealing with forex, regulating people who are offering forex trading services to the public, in order to protect the public.Offering ’securities’ is a legally regulated activity in Jamaica. The FSC supported by the Supreme Court’s December ruling is saying that if you are offering ’securities’ to the public, then you must comply with certain legal requirements. It does not mean that in the absence of the forex regulatory legislation that trading in forex in Jamaica is illegal. It isn’t.
concerned Says:
April 29, 2008 at 7:46 pm heard that a big run is to be made on UGI by FSC
dont know how it will impact WW though
person was encouraging people to do due diligence
Wan Spec Says:
April 29, 2008 at 7:47 pm I would agree with Ronnie, except that the BOJ has been saying that it does not want to regulate operations like OLINT. It has been referring them to the FSC. That’s why we need some clear legislation.
Stress now Blessed Says:
April 29, 2008 at 7:57 pm DR-
They are totally disrespectful to members. They are acting like we OWE them. I have never seen anything like this. Typical Jamaican customer service
carleena Says:
April 29, 2008 at 9:39 pm i cant seem to log on online with WW is any one having this problem.
Rich Kid Says:
April 29, 2008 at 10:42 pm What is DM from MD’s cell number?
dehustle Says:
April 29, 2008 at 11:08 pm Rich Kid Do you live in Ja ?
JohnDoe Says:
April 29, 2008 at 11:30 pm Well tomorrow is another big day for Olint. Let’ watch and see what happensWhy the cries about Customer Service? If we had quarterly financial statements and audited financial every now and then we would have an idea what is going on. But alas we have none.
dehustle Says:
April 29, 2008 at 11:50 pm John DoeWhats with the We ???
R U a member of any of these stupid clubs ?
dehustle Says:
April 29, 2008 at 11:52 pm Richkid
Please email me dehustle@gmail.com
jordan Says:
April 30, 2008 at 12:04 am @carleena 935WW is still updating their database. I went there today
and one of the top managers was telling a member who could not log on – to wait a little bit longer. “The update is 80% complete…”. I can log on but thats just me. You are not alone with that problem.
RedP Says:
April 30, 2008 at 12:10 am To all you astute, informed individuals on this blog. Once again, questions.
I am seriously thinking (after having done some research) of using Panama as my offshore jurisdiction, setting up a blind trust and transferring my assets here in JA into that trust. Panama really seems to be rocking right now with lots of development, growth and investment. I have already checked out their privacy laws and my brother has links to law firms and banks over there.
What are your opinions of this and if possible please state what the pros and cons are.
BTW. Last year my bro paid down 50k and mortgaged the rest on a 1000sq/ft apt. going for 16oK on the bay in Panama city (He bought off of plan). It was just completed last month and he went over to furnish it. He told me that phase 2 for the same apt. is now selling for 260k!!
The property management firm is pressuring him to get his ass in gear so they can rent it to corporate entities for 3k/mth!!
This place sounds really live. Rocking economy, low crime rate, first world service, geared towards investment, low tax rates, but most of all PRIVATE BANKING !!
As usual, your input is greatly appreciated
Devon Says:
April 30, 2008 at 6:11 am 942/RedpI guess this could be considered a pro, but a significant amount of US residents are retiring to Panama of late.Did you brother say how much is the monthly maintenance payment for the unit and how much is it projected to be once the developer turns over management to the owners? I’m assuming these are condo units.

How politically stable is Panama these days? Is there banking system “pure” now?
jay Says:
April 30, 2008 at 6:28 am Read this article carefully, when you reach the final paragraph, look closely at the names listed there.
Does any on those names look familair and where have you seen it before.
What is the link between that company and its directors, the former lawyer for a certain gentleman and the company that now ceases to exist.Food for thought.http://www.jamaica-gleaner.com/gleaner/20080430/business/business7.html
JohnDoe Says:
April 30, 2008 at 8:43 am @Jay#944; Yes there is a ‘Peter Wilson’ listed. Is that ‘Peter Wilson’ the same Peter Wilson of C-(formerly C+)? Can someone confirm or deny this?@Jordan #941. You know what I continue to find absolutely strange, is here are companies that are paying 10-20% per month, and taking their word to be true, seemingly making more, UNABLE TO PROVIDE…
a) Good Customer Service (demonstrated by slow and no e-mail response, phones that can’t get answered)
b) To update a customer database with continuous hitches (see WW problems)
c) Put a simple notice on the Website, “Customer Database is being updating and will complete in 15 minutes”
d) To provide quarterly financial statementsInformation: Today, Olint goes back to Court to hear whether the accounts NCB will be closed, the Court will also rule if C- boss, CH and BH will be released on Bail today and for those into Peter King, the defense and the prosecutors will be view “the tapes” today.

@Dehustle #939, No Dehustle I am not a member of these “smart” clubs, The fact is, I am just a Jamaican and I am just empathising.

@Oppurtunity: I hope you see the advice you asked for coming out on the blog from Wan Spec, Jay, DR, and Stressed and Blessed among others.
Overchill Says:
April 30, 2008 at 8:57 am Jondoe works at the FSC, thats why he has so much time on his hands to go round most of the investment club blogs.
*shuffles off to rustle some papers and look important*
dehustle Says:
April 30, 2008 at 9:13 am Overchill
or better yet deal with the outstanding Pension applications
Im surprised nobody is appalled as I am 4 out of 520 applications approved on 1 1/ 2 yr !!!!
I dont know about You But poor Pple Pension That is a a PRIORITYhttp://jamaica-gleaner.com/gleaner/20080425/business/business9.html
PEI Says:
April 30, 2008 at 9:18 am JohnDoe is George Roper from the FSC. This is where they come to find out what going on and people giving them to much information.Leaving Babylon explain to Mr. Roper what they need to do so that we can carryon with our affairs and the government can get more tax and stop treat people like they are criminals. better still I think they should fire Roper and hire Leaving Babylon cause Roper need to go back to school.
Bless Says:
April 30, 2008 at 9:22 am Overchill, Johndoe is an inner circle man or is directed by an inner circle man so see with him , him can’t understand our situation him never see or feel hungry.I love Japan concept of education before talk about a situation you have a live it, so talk for example blindness you have to live the life of a blind person for about a month so you have first hand experience.All of us are their feeling trees so understand the sentiments.

Jay# 944 Many of the Cash Plus has made that deduction that Cash Plus seems to have some thing to do with CMP purchase stale news

EVERYBODY HAS THEIR OWN AGENDA
PEI Says:
April 30, 2008 at 9:23 am You see it they have other serious work that they not doing because it seem like they dont know what to do. they need to fire George Roper and all the people at that place now. why we dont go up there with some placard dont is tax payer money pay the fsc people? fire them now! old idlers
Ronnie Says:
April 30, 2008 at 9:53 am RedP 942Some comments. It may make sense but keep in mind that this is based on current government policy in Jamaica and Panama and either one could change in the future. I am not saying it may not be a worthwhile idea but it makes sense to keep this in mind.From your example it appears the Panama real estate market is in a bubble. When prices are going up at 62.5 % or more per year, this is a bubble. At that rate in 10 years the price of the 1000 sq ft apartment would be $20.5 Million. Clearly that makes no sense and an adjustment is in the offing. For guidance, look north to South Florida. The same thing was happening in the sub-prime boom.

When the market turned and prices reversed direction the people that paid down their deposits of $50,000 and more had to walk away from it. It was less expensive. They could not obtain financing at the contract price when the new values are significantly lower, so to consummate the contract they would have to put more money into the deal. Why do this when the property cannot be sold at that price. Most investors had to walk away as that was cheaper than throwing good money after bad.

Not saying it may not make sense but in bubbles if you are in earlier while the bubble is still inflating you can come out ahead. Get in when the bubble is already inflated and about to pop and you can get hurt bad. Hmmm. Sounds like how ponzis work. Anyway I am saying, keep your eyes open.
Opportunity Says:
April 30, 2008 at 9:59 am @ RedP Noco.. ooops Ronnie left you a post …
RedP Says:
April 30, 2008 at 10:10 am Good Morning People, Here goes:WARNING!!!! ALL JAMAICAN RESIDENT OLINT PEOPLE WHO WERE MEMBERS BEFORE FSC RAID!!!I spoke with my sis in law who is doing bank/finance course at IMP. On saturday gone the lecturer was from F.I.D. (Fraud investigation div.).
Lecturer stated that that FID was Present at O raid with FSC. Member list was siezed and consequently handed over to Inland Revenue Dept.(IRD)

IRD has started sending out demand notices to said memberws on the list via registered mail giving them 2 weeks to pay outstanding tax on investment returns or else.

I do not know what happens if you do not receive/pick up mail.

I do not know if this applies to members who joined after the raid.

If anybody knows aything please fess up.

Sorry to be the harbinger of bad news on such a lovely morning.

God bless you and keep you all.
RedP
jay Says:
April 30, 2008 at 10:10 am Ok Folks,The FSC maybe incompetent in the handling of the pension funds application process.
I too was taken aback when I saw that they had only completed less than 1% of all the applications received.I think they definitely need additional staffing to deal with the work load as at the current rate its going to take forever to get through all these applications.

Now how are these pensions funds being operated now , are they considered to be “unregulated” entities?

The investment clubs could very well say, if its taking so long to regularize the operations of the pension funds which have been in existence for such a long time, how long its going to take to review and grant a license to a WW.

I choose that one as they are the only one who seems to be prepared to be open to public scrutiny.

I do support the FSC as a regulator, as I might add if it was not for their actions a lot more persons would have been fleeced by C- , HW and the many others than are out there.

We cannot run a country without rules and regulations.
Overchill Says:
April 30, 2008 at 10:29 am RedP @953
They want our ‘tax’ money, but they dont want us to get the money to pay the tax, interesting. More and more people are getting fed up with the negativity towards these clubs, more and more people are getting overseas accounts.
If they had dealt with this like civilised people from the start, the government would be seeing a nice inflow of tax dollars for the coffers round about now.
RedP Says:
April 30, 2008 at 10:35 am Isn’t it amazing that legilation for casinos will be ready by mid year (according to Business Observer) but in five years we can’t have legislation for investment/forex clubs?Maybe the clubs should apply for casino licnse, after all, isnt investing a gamble? RedP
jay Says:
April 30, 2008 at 11:02 am As have been noted before, the regulatory framework is not currently in place to support forex products in Jamaica.Packaging forex products, for offering to the public is considered a security which falls under the auspices of the FSC.
Dealing in forex requires the services of a cambio or a license from BOJ.Where does this therefore leave the forex clubs – well they will remain a illegal entity /entities.

There may be however a way around this obstacle and its to have a forex club with less than 100 members.

These members actively participate in the running of the clubs and have a say in the investment decisions being made by the club.

Similar clubs in the USA are not regulated by the SEC.

From my vantage point, I see the emminent collapse of all current investment clubs in the current structure which will be replaced by “actual investment clubs” in the form that I mention above.

This would require all participants to be educated on Forex products, trading, risk etc.

It would require at least a monthly/quarterly coming to together of the group where educational information is provided and the state of the accounts of the clubs are presented and open to debate.

I see no other way how these existing forex trading clubs can survive.

The BOJ will soon be applying additional pressure, by suspending or bring under scrutiny all cambios who are converting $J to $US for the existing clubs, and its only a matter of time before the operations are premanently crippled.

In Jamaica, regulation typically follows the actual operations it was the same for the cable industry.

In the interim, Jamaicans and others will continue to be fleeced by the “suitcase” forex trader who promises a ROI of 10% or more per month which is simply unrealistic.
jay Says:
April 30, 2008 at 11:14 am Some resource information on investment clubs.http://www.sec.gov/investor/pubs/invclub.htm
Bless Says:
April 30, 2008 at 11:22 am Jay, are you a trader? if so how long have you been trading? how successful are you?If any of the questions above cant be answer in the affirmative with a number of years, What are you basing you decisions on?What is your motives?

Are you an inner circle man or directed by one?
dehustle Says:
April 30, 2008 at 12:21 pm Attention MD Members
Back in the day joining was by face to face interview with DM If there is anyone on the blog who personally met with DM, IL. Or HM
Please email me dehustle@gmail.com
Thx
DH Says:
April 30, 2008 at 12:31 pm Dehustle
you left out AS
dehustle Says:
April 30, 2008 at 12:36 pm DH
please email me
leavingbabylon Says:
April 30, 2008 at 1:02 pm RedP – Panama is a strong jurisdiction with a tremendous reputation in Western Europe and highly preferred in the UK. I personally am a big fan of the Private Foundation model instead of a trust, but I would urge you to avoid international banks in Panama as they are severely compromised by the weighty threats in their partnered jurisdictions. You are far better off traveling to Panama and working with a purely Panamanian bank (i.e. no offices outside the country). I would also recommend Mossack Fonseca at http://www.mossfon.com and avoid the promoters on the web. Check out their glitzy website and then go visit their offices in Panama and you’ll understand. In Panama, you’ll find the guys with the best websites have the worst firms. Not sure why, but the big firms in Panama have so much referral work that they’re simply not advertising much if at all.
RedP Says:
April 30, 2008 at 1:22 pm 962
LeaveBab, Thanks, knew I could count on your input.
More time,
redP
mark Says:
April 30, 2008 at 2:01 pm hey leavingbabylon know anybody in the usa that specialize in forex taxes.
paul Says:
April 30, 2008 at 2:38 pm everyone.. Tomorrow will be an interesting day for OLINT”The accounts will be closed and Olint will soon use that as the new reason why they cannot pay clients.
Opportunity Says:
April 30, 2008 at 3:17 pm Bwoy you have to hand it to noco, oops, Ronnie, oops, Paul he just keeps popping up LOL!! No Paul that wont be the “new excuse”. They’ll come up with something else all on their own
NB Says:
April 30, 2008 at 3:38 pm MD MEMBERSFor what its worth. I think MD members should form a concerned group. I made request from 1st March 2008 and not even a respones and trust mi i have US 400k invested, they should want to talk to everybody especially people who put in the big dough. Any one share my sentiments? i think together we can investigate more indepth, have more business and personal info on MD and have in place a proper action plan if anything more (God forbid) should go wrong.
Fancy D Says:
April 30, 2008 at 3:47 pm Anybody can give me some information on KEEN EXCHANGE???
Lisa Says:
April 30, 2008 at 3:53 pm I originally joined MD face to face and i also know where they are oops i mean are not. anyway it does not matter they are having issues and i think that the bad customer service is just a manifestation of those issues. Remeber that IL did not get lock up till march so how come gains so low fi jan and feb and why werent they posting from before that thing hit the fan in march. im keeping my fingers crossed. They gave me low low rates with no explanation so you know is sour grapes inna this too. I just believe that we are helpless i mean hapless ppl but we just have to try a little bit of faith i have writtten to them as stress…blessed suggested but to no avail. I figure that they have the handle right now so i best wait. I do recall that they agreed to about 15-20 per month as well as a bonus for every quarter.
jay Says:
April 30, 2008 at 5:16 pm Bless @958.I do trade forex, currently using a demo account with Metatrader.
Going now for approx 8 months.Rate of success, well lost 20% of my principal so far , started with $5k.

Now the lower the principal you work with, the quicker is it to get wiped out.
That is exactly what I am seeing

Hey whats the inner circle ?
I am not being directed by anyone, so why the conspiracy theory ?
Wan Spec Says:
April 30, 2008 at 6:10 pm Olint got the injunction extended until May 12th.
JohnDoe Says:
April 30, 2008 at 6:24 pm @wan spec: Yes Olint get a little space. We will now wait on May 12, 2008.
Bless Says:
April 30, 2008 at 6:55 pm Jay, you don’t trader forex, you are learning to trade so why are you so hard that they cant consistently give 10% a month.There is a guy in Canada doing it from 1998 he run forexmentor to earn new money by teaching. You are going to lose some and gain some it is just that as an intelligent person you are going to be prepared for Mr. Rainy Day.This guy is a millionare before coming in forex so it must be working for him

The pool that you have and your strategy will determine how long you stay in the game (Knowledge base)

There is no conspiracy theory it is just that people are jumping to a lot of conclusion no one will tell you their strategy that work for them, they might point you the way (basic) but rest you will have to find out for yourself

Some people around here are protecting their family/friend business so there is hardly much positive from them

Knowledge is the name of the game

I am glad you are taking the bull by nthe horn
happy trading

Bless
JohnDoe Says:
April 30, 2008 at 7:49 pm Fact: JohnDoe IS NOT George Roper…. Speculation: JohnDoe is George Roper…. Since there is SPECULATION that I am “George Roper”, I am going give it a try behaving as ‘GR’… here goes….I would not blame the regulator, after all I can’t blame myself, this is funny.1. When the new Pension Act was announced in 2006, we were promised more staff, unfortunately we are still not at the levels that we would like. The rise in UFOs, flying in from every corner, has further compounded the problem as we have our hands full with all sorts of questions and hostile reactions. It has reached the point where our hard-working staff members are now being threatened. What a downright shame!

2. We try hard to protect people from putting their money in unregistered schemes that, 99.9% of the time, turn out to be Ponzis, Pyramids and other scams. While we can’t tell you that you won’t lose money in investments offered by registered companies, it is always better to do business with a regulated and registered business than to allow an organisation to use sweet words, unending promises and delay tactics to swindle your money.

Registered Financial Organisations (RFOs) must have the following inter-related principles covered.

a) Transparency – is information information easily available to investors. Audited financial statements, balance sheet, income statements, cash flow etc
b) Disclosure – is all relevant information that will affect investment decision available.
c) Accountability – What procedures and systems are in place, Management team, audit trails etc.

If they fail to adhere to these principles their license can be revoked. It is a little more complex but that is basically what we require of institutions issuing securities to the public.

When an organisation provides such information, the public can now make a studied and informed decision on whether or not to hand over your money that institution.

Now when a UFO crashes and you lose your money, you should not blame the FSC, the Bank or the Government but sadly that is what has been happening but we have to uphold the law. Case in point, Cash Plus, HW, Mininvestment, Swiss Cash to name a few.

3. Some of the pension schemes will soon be given the ok. We have to be happy with investments plans of these pension schemes and some will require revision. In addition the new Pension ACT, quite rightly, requires that the administrators & trustees pass the “fit and proper” test. So ex-cons and persons of questionable character are not allowed. I am sure you know why.

3. We visit these blogs to get a feel of what is going on in the public’s mind so that we can tailor our marketing/educational campaigns and we also see what the UFOs are up to. The UFOs tend to be very secretive, no to little transparency and no disclosure. I must confess, the discussions on these blogs at times have caused us to hit our heads just to check if we are gone mad or our if people are so captivated by the bait of high returns that reason has left them. I also get the feeling that the club owners/representatives visit the blogs too.

4. Most UFOs stubbornly refuse to give us information and refuse to get registered but we have to keep abreast with what is happening by all legal means as we have a solemn duty to inform and hopeful protect the Jamaican investor. We have to watch the informal sector as it impacts the formal sector.

Remember I am JohnDoe acting as ‘George Roper’, as always remember to think and check, before you, invest.
DR Says:
April 30, 2008 at 7:51 pm It is just a matter of time for “O”….
beezee Says:
April 30, 2008 at 8:00 pm do you know any one who got there monies from MD since / or in feb even March.
beezee Says:
April 30, 2008 at 8:06 pm can some one put my heart to rest it just a race so
DR Says:
April 30, 2008 at 8:08 pm People have been collecting from MD but I suspect it is the persons who applied between Jan 1 and February 15….. I have not received my payment as yet…and I applied mid-February…… hush.There may have been a huge back-log before MARCH….but there should be an even BIGGER back-log, because people are Stress, DRained and Dizzy. This is crazy…..
beezee Says:
April 30, 2008 at 8:12 pm fed upgive me licgle more details how you got it account or cheque
mi think you kidding me not even mi own name me caan spell
Jay Says:
April 30, 2008 at 9:28 pm MD folks,Have you ever wondered why you always hear someone say ” I hear that some people are being paid”.
Well guess what that could be true and the people that are usually being paid before the big crash is the “real big men” who are typically called to take their money out.Could this be what is happening to MD.
Also you will often hear that Mr So and So has money invested in this “thing”. Mr So and So happens to be a “real big man”

Well that a part of the catch, its your money being used to pay Mr So and So, who ends up a winner, and the rest of “poor people” the loser.

This thing is the biggest transfer of wealth from the poor to the rich that I have ever seen, and yet we continue to support it.

With the number of high yielding “schemes” that have failed recently, I find it difficult to believe that “poor” people continue to pump more money into the others that pop up with a promise of making us all rich in two years.

Again, I find it very odd that all of a sudden Jamaicans have found the “secret” to making money and can pay 10% or greater per month.

Something is just wrong with that picture.
Venture Capitalist Says:
April 30, 2008 at 9:56 pm Dr. What do you mean when you say it’s only a matter of time for “O”… what is this regarding?Thanks
JohnDoe Says:
April 30, 2008 at 10:02 pm @968 NB and MD Folks
“i think together we can investigate more in-depth, have more business and personal info on MD and have in place a proper action plan if anything more (God forbid) should go wrong.”All I can say better late than never. Also given your resources, next time I hope you use them to do in-depth investigations before “investing” your money.
JohnDoe Says:
April 30, 2008 at 10:24 pm From Warren Buffet
http://www.forbes.com/markets/2008/03/05/buffett-shareholders-investing-markets-billionaires08-cx_pm_0306buffetbonmotsinvesting_slide.html
Mercury Vapor Says:
April 30, 2008 at 10:59 pm You know, I’ve been thinking about “O”. And you know what, I’m not going to say anything bad about “O” and DS any more. I’ve changed my mind…DS…thank God for him! I mean, we should all think about it, if DS hadn’t come along, where would we all be right now. “O” wouldn’t be here, Lewfam Club wouldn’t be here, and all the other clubs wouldn’t have emerged. No one in Jamaica would never have even heard about forex.Now yes, I know some of you are saying, well what about the scams like C+ and HW. Well, that’s not DS fault, him never start C+ or HW, him never tell anybody to join any club. DS has done alot for Jamaica, I mean really think about it. He has made a lot of money for a lot of people, think about how much millions that must be…and not just for the rich “well to do” people, but for middle class people, and even some poor people too. If it wasn’t for DS we all wouln’t be here on this blog right now talking about the different clubs…there wouldn’t be any clubs.The only investments that we would have available…the only investments we would even know about would be stocks, bonds and mutual funds. The people at DB&G, BNS, JMMB, Capital & Credit, tec. would still be making a whole heap of money off of us, and we wouldn’t be able to do anything about it. Why? Because they would be the only players in town. So everyone, cut David some slack! Remember that “O” was the first, it came before all the other clubs. It has done alot of good things for Jamaica…so ease up on “O” and DS.
NewGirl Says:
April 30, 2008 at 11:47 pm Preach it, brother Mercury!!! I totally agree with you. I love the blog, always reading it, but it is really depressing to see some of what is being posted. I fully appreciate the new information and the brilliance of the minds that are at work in some of the posts. However, I am not sure what the point of the negative posts, about ponzi schemes are all about. FR is no longer here to preach at us what we have heard about , but Jay seems to be trying to pick up from where he left off. I figure if indeed these clubs are ponzi’s then they will fold with our money, because we are not getting it anyway, even though we have requested it. I choose not to believe this, I choose to believe that Olint, Lewfam (not MD – see previous posts)are not ponzi’s, which however could fail because of the rumours about them being ponzis causing a run on the club (was Bear stearns a ponzi?). I think that the negatives being posted are based on speculation that just depresses everyone. I am quite realistic about the possibility of these clubs failing, but what is the point of dwelling on this possibility, why don’t we use our creativity and brilliance to devise ways to get around the external pressures that are being faced by the clubs, to ensure the survival of these clubs instead? (kudos to some of you that are already doing this). Why not send messages of encouragement to the inbox of Olint and Lewfam (not MD), as they navigate the storms that are coming against all clubs at this time, certainly all of the ones that I am in, and they don’t all have the same trader.
BTW, I know the answer, but curious to know if anyone else has the answer to this, DS is the trader for Olint, who is the trader for MD?
Peace
Livin n Babylon Says:
April 30, 2008 at 11:49 pm Mark 965 – The only actual tax advantages that exist within forex occur when you yourself are an active trader. If the tax issue involves another trader/trading company (in our case club) then you are simply dealing with capital gains. You may want to checkout http://www.greencompany.com solid free information online, webinars, etc. Again the only serious advantages are for active traders not passive investors. Naturally, you can always run your investments through a company and gain some advantages in expensing business deductions.
Leaving Babylon Says:
April 30, 2008 at 11:54 pm My bad, I did it again. I may be Livin N Babylon, but I’ve changed my name now I’m: Leaving Babylon! Any suggestions for foreign residency and raising an ex-pat family?
mark Says:
May 1, 2008 at 12:27 am leaving babylon how about if it is a hedge fund investing in for example olint .would tax rate be lower than 15% or none
Leaving Babylon Says:
May 1, 2008 at 1:11 am 15% is for interest on loans and qualified dividends, short term capital gains are assessed as ordinary income. So if your income bracket is 28% then your taxes are 28%, 33% for income – 33% for Big-O. Death and Taxes!
Leaving Babylon Says:
May 1, 2008 at 1:13 am 15% is for interest on loans and qualified dividends, short term capital gains are assessed as ordinary income. So if your income bracket is 28% then your taxes are 28%, 33% for income – 33% for Big-O. Death and Taxes!
jay Says:
May 1, 2008 at 6:22 am Olint can now pay, accounts still open !!http://www.jamaica-gleaner.com/gleaner/20080501/business/business1.html.So what will be the reason now why Olint cannot payout request.

Seems like all the “investment clubs” heading down the same path.

Oh, this sounds all too familiar.

Guess we shall se.
jay Says:
May 1, 2008 at 6:27 am OLINT accounts still open, so payments can be made .All those in line, you still have time to get your cash.http://www.jamaica-gleaner.com/gleaner/20080501/business/business1.html
DR Says:
May 1, 2008 at 7:02 am Venture Capitalist….982I think NCB will win eventually….don’t you see the trends….?C+ accounts were closed….. now WW is having problems with RBTT, they went to UGIfinance and then the Regulators threatened to “investigate” UGI…..see the trend….

“The Enemies” don’t want FOREX to be licensed/regulated here….get it people….
InForTheLongHaul Says:
May 1, 2008 at 7:18 am Mercury Vapour #985Well said and my sentiments exactly. Thats why mi jus keep quiet an read the blogs an dont get into the speculation etc. I am tired of the negative vibes and sentiments targeted at ‘O’. All of us have benefited (if not financially, certainly in knowledge) from what he started by introducing us to what was previously uncharted territory for most of us ‘traditional’ investors.
Blessed Child Says:
May 1, 2008 at 7:20 am GREAT NEWS FOR Ohttp://www.jamaica-gleaner.com/gleaner/20080501/business/business1.html
chrisj Says:
May 1, 2008 at 7:43 am Re#981 (MD folks)
I don’t think I could be considered one of the “real big man” who would have been called to take money out of MD but I have received two draws that were requested in January (different dates). I also have one that was requested in February and I am still awaiting that one. Also, they have recently suspended my account for incomplete due diligence documents, which i have subsequently provided (again).
I don’t see anything wrong so far….except of course the extensive wait.
I mean, they are a bit slack (administratively) but aren’t they all?
Mercury Vapor Says:
May 1, 2008 at 7:44 am Re: Post 993InForTheLongHaul, I have seen the light! DS is a great Jamaican, he has done alot for this country. The thought crossed my mind that DS may…one of these days…come across this blog…and can you imagine how him must feel when he reads most of the posts here. There are so many negative comments about “O”. Bwoy, him must feel bad. DS has done far more for Jamaica than many, many people…yet they get more respect and praise.Let us give the guy a break…he has made a lot of people lots of money. But people…yu si ow people stay…when “O” paying on time and eveything criss, and people a make nuff money, everybody a say: “Yeah mon, we love O, and DS is di best!”

But when times get rough, money naw flow, problems emerge…do people cut him any slack…NO! People start mouth off: “Bun down “O”…bun it down! Bun it all down!!! Mi wah mi money back!”

Everybody ready fi bun down “O” to rahtid!
chrisj Says:
May 1, 2008 at 7:48 am Re:968
Remember that none of these clubs guaranteed us anything (no special percentage return) so we should be happy with anything above zero/month. I think most of us have gotten spoiled and maybe a little greedy.
J.A.YUTE Says:
May 1, 2008 at 7:56 am Great news I mus agree. However, temporary also. “O” needs to find some other means of carrying out our transactions. MLC & NCB should go to hell. Who the hell they think they are, wanting financial statements from “O”. I back DS 100% don’t give them none.
Mercury Vapor Says:
May 1, 2008 at 8:03 am Re: Post 997ChrisJ said: “I think most of us have gotten spoiled and maybe a little greedy.”ChrisJ, that is an understatement. Alot of people on this blog are far…FAR…TOO GREEDY! Dem a complain about getting 15% and 5% a month from MD…wha di bom%$#@!!! Yow, is mad dem mad?! That is very good…DAMN GOOD IN FACT!

If you have money in a managed forex account in the U.S. you lucky to get 5% a month, and you’ll probably lose 5% the next month to rahtid, then make 2%…then 8%…then lose 9%…then make 4%, etc.
DH Says:
May 1, 2008 at 8:08 am To DS1. The version found written on the wall in Mother Teresa’s home for children in Calcutta:People are often unreasonable, irrational, and self-centered. Forgive them anyway.

If you are kind, people may accuse you of selfish, ulterior motives. Be kind anyway.

If you are successful, you will win some unfaithful friends and some genuine enemies. Succeed anyway.

If you are honest and sincere people may deceive you. Be honest and sincere anyway.

What you spend years creating, others could destroy overnight. Create anyway.

If you find serenity and happiness, some may be jealous. Be happy anyway.

The good you do today, will often be forgotten. Do good anyway.

Give the best you have, and it will never be enough. Give your best anyway.

In the final analysis, it is between you and God. It was never between you and them anyway.

-this version is credited to Mother Teresa
InForTheLongHaul Says:
May 1, 2008 at 8:18 am Mercury Vapour #996
My concern is that he will be so fed up and disappointed that he may well return to trading exclusively for big players for close friends and family after this is all over. He really does not need to trade on our behalf. Has enough money already. I have done well off them with my likkle smalls and will not forget that.ChrisJ #968You speak truth that people sometimes forget. No promises were ever made but consistently high gains that people have gotten used to and become greedy for more.

Of course I fully appreciate that some people may be relying on fx gains to supplement daily expenses. Not a good move! Too risky. Hopefully this is a wake up call for many to re-evaluate how they manage their investments. I try to maintain liquid funds to cover at least 3-4 months regular outgoings. Takes discipline and doing without a few indulgences but it works.
InForTheLongHaul Says:
May 1, 2008 at 8:21 am Correction to #1001should read ChrisJ 997 (mi dyslexia acting up)
InForTheLongHaul Says:
May 1, 2008 at 8:27 am DH #1000AMEN.May our Lord bless DS and may he prosper. Even if I gain no more, may he prosper. Lord give him a steardfast mind to serve you. To whm much is given , much is expected. I pray that he will serve the Lord of his salvation and not the desires of man.
Patricia Says:
May 1, 2008 at 8:38 am STOP THE FINANCE WAR!..writes Rev AL MILLER, in the Jamaica Observer“An unnecessary war is going on among alternative schemes, the banks and the regulators. The reality is that thousands of people have invested in what can be termed investment programmes or alternative investments and earn good returns on investments, helping them survive in these tough economic times.Now the public is left to wonder, based on all that has been played out, whether this is another case of the strong opposing the weak, or these are scams, Ponzi schemes or trickery, from which unsuspecting investors can lose their money.

These are legitimate concerns and we cannot support rip-off artists or illegal programmes.”

http://www.jamaicaobserver.com/letters/html/20080430T190000-0500_135096_OBS_STOP_THE_FINANCE_WAR.asp
RedP Says:
May 1, 2008 at 8:40 am IMPORTANT NOTICE!!!Further to my post #953The F.I.D. lecturer stated that the govt. has mandated the Inland Rev. Dept. to pull out all the stops to widen the tax dragnet and the following eg. was given:

If someone from the dept, happens to be at the supermarket and sees a lady step out of a benz, they are to take note of lic. number and find out who fah own, whether it belongs to her or huzzie, matey, boops or donman.
Investigations are then commenced to see if evryting cawpaseck or if the individual file tax pon 350k/yr income.
If it happens to be the latter yuh corner dark. They will audit you and ream your ass and you will be standing in line behind Beenie Man at tax court. If for some reason you are non compliant/cant pay/nah no money/nutten nah gwan/ wont pay. YOUR ASS IS GOING TO JAIL TO HUG UP CARLOS!!! DO NOT PASS GO, DO NOT COLLECT $200 CUZ DEM GOING TO TEK IT FROM YOU ANYWAY!!!

I URGE YOU ALL MY FRIENDS THAT IF YUH NUH STRAIGHT, GET STRAIGHT, DO NOT DELAY!!!

UNFORTUNATELY BIG BRO IS WATCHING YOU!!

Panama looking better and better everyday!!

Peace out,
RedP
Think And Check Says:
May 1, 2008 at 10:40 am DS and the leaders of the clubs may well be the new Jamaican heroes. A Marcus Garvey come to lead black people out of the wilderness of financial despair. No one has asked them to pledge their first born. If you have something against the FSC or becoming regulated, simply produce summary audited financial statements. This will silence the critics and make investors happy.The summary statement will say little more than: The reputable accounting firm of True Numbers and Company Incorporated has examined the books of Olint and found that all gains reported or paid were the result of trading on the forex markets.
Mercury Vapor Says:
May 1, 2008 at 11:01 am Re: Post 1001InForTheLongHaul said: “My concern is that he will be so fed up and disappointed that he may well return to trading exclusively for big players for close friends and family after this is all over. He really does not need to trade on our behalf. Has enough money already. I have done well off them with my likkle smalls and will not forget that.”InForTheLongHaul, I think that “O” members should email him and tell him thankyou…they are grateful for what he has done…and they are glad that he is still here, trading and making money for people…and that they really appreciate his hardwork. What do you think IFTLH? I mean DS and “O” are going through a rough time and DS must be under a lot of stress. Sending him some encouraging emails and letters may improve his spirits. If I were DS I would love to hear some encouraging and thoughtful messages from my members.
InForTheLongHaul Says:
May 1, 2008 at 11:21 am Mercury Vapour #1007I might do just that!For all we know he is probably in a good state of mind. I do not know him personally. But encouraging words make all of us feel appreciated. Our words should bless and not curse.
Even CH and MH needs our prayers and forgiveness. (for the record- neither got any money from me)
Mercury Vapor Says:
May 1, 2008 at 11:28 am Re: Post 1008InForTheLongHaul, I think that would be a good idea. I mean, DS is a human being. Let’s try to be supportive and encourage him, I mean to send him a letter showing appreciation and gratitude wouldn’t hurt, right?Peace
dehustle Says:
May 1, 2008 at 11:44 am NeW Girl
Hi can u email me dehustle@gmail.com ?
Thx
Leaving Babylon Says:
May 1, 2008 at 12:05 pm Nice to see the sympathy vote is alive. As I said before, “When things are good he’s DSaviour, when things are bad he’s D-devil.” Clearly this view is nonsense. As big of a fan as I am of David, I absolutely need NNEEEDD not only my withdrawal requests from February, but a bona fide update to pass along to those who are waiting on me to return THEIR funds. All those piggybackers are in the same place and all us carrying them are in a very hot seat. With an update at least we have the ability to communicate something besides… “Ah,.. due diligence… um process – yeah Wachovia.” I’m still confident, but I’m also expecting information.
Venture Capitalist Says:
May 1, 2008 at 1:15 pm I totally Agree with you all a letter would not hurt i will try to send some encouraging words to his email.
jay Says:
May 1, 2008 at 1:47 pm If redemptions cannot be made since February is this not a sign of liquidity problems.Why not demand a financail statement from Olint over the signature of a auditor which states the assets and liabilities of the company.That could certainly ease the anxiety,
what do you all think.

If money is there and that can be proven, that it may add some credibility to the “DD” process.
Opportunity Says:
May 1, 2008 at 2:11 pm Jay, you and any member of O can send such a letter/email, demanding a financial statement over the signature of an auditor.Nothing to stop you from issuing such a “demand”. Go ahead.Quite frankly, what is is more critical is the resumption of timely payments, bona fide updates, and more direct lines of communication for members, along with less speculation, rumours (and downright lies) and fearmongering.
danews Says:
May 1, 2008 at 2:36 pm at Leaving Babylon..I suggest that you give your piggybackers out of your pocket if you can.if they know you are with Olint, then the DD that is good enuff for you, should be good enuff for them.

it is your business model to make a profit off them, so in hard times you should endure the loss… the piggybackers are YOUR clients, not Olints.

Plus I am sure that the piggybackers would rather not here that Olint is a Ponzi, or that DS has lost a lot of their money
Wan Spec Says:
May 1, 2008 at 2:41 pm I find it very suspicious that so many bloggers don’t want to ask for evidence / transparency. I wonder what is it that they know why they are not pressing for this. What do they fear would be revealed if there was transparency?If there was openness and transparency, there would very likely have not been a run, and people would be getting paid right now. Why would that have been a bad thing? Why the hostility to the calls for openness and transparency?
DH Says:
May 1, 2008 at 3:12 pm O not giving any Statement to assure anybody of anything, They will say if you dont like what is happening get out because we (’O’) did not invite you.
Leaving Babylon Says:
May 1, 2008 at 3:33 pm Danews – I’m doing just that and it’s getting painful, but one is too large and must wait.
Wan Spec Says:
May 1, 2008 at 3:40 pm We cant get out, cause we cant get we money!
RedP Says:
May 1, 2008 at 4:06 pm If any of you on this blog are retailers I would like to know if you all are experiencing the same thing as me.
I have noticed that since the closure of C+ and all this DD with the clubs that my sales seem to have fallen by approx 50%. When I speak to suppliers I get the impression that the market is bleak.
It has caused me to restructure business plan ie ordering goods, reduce margins, rotate staff etc. Frustrating as hell.
Anybody else having the same problems?? Or come to the same conclusion??
Maybe C+ wasnt so bad after all.Peace and Love
RedP
DT Says:
May 1, 2008 at 4:14 pm RedP,
It doesn’t take a genious to figure that out. Everything in JA now stop run. House stop build midstream, nothing nah sell, man bruk, Just wait….worst to come as the loss of the C+ and the delay in payments really set in.
danews Says:
May 1, 2008 at 4:57 pm make up your minds… you do not want to hear any BS about due diligence..are you prepared to hear of some serious losses ?
Devon Says:
May 1, 2008 at 5:14 pm RedP/1027Could it be attributed to reduction in remittance to Jamaica from the US due to their financial issues as oppose to C+/UFOs?
Opportunity Says:
May 1, 2008 at 5:18 pm http://www.jamaicagleaner.com/gleaner/20080203/focus/focus5.html
RedP Says:
May 1, 2008 at 5:26 pm #1027
Boy Devon, the way the country running i guess anything can roll.
Patricia Says:
May 1, 2008 at 5:29 pm RedP, not in JA, and not a retailer but what I have heard of are Real estate sales that are not being completed, because people just cant. Also know of vehicles being repossessed and an increase in demand letters for unpaid loans/facilities being sent out. On the northern front am hearing of smaller, not less frequent, but, reduced amount of remittances being sent to JA, due to lack of/reduced cash flow.So, that coupled with your taxman scenario not looking so nice.
DR Says:
May 1, 2008 at 5:40 pm Poor Kid….Don’t you want to become Rich Kid? I hope the answer is yes….. if so, then why do you want to see the word “loss”?Listen man, when I saw 5% for March in my Garden of Daisies…I wondered if I was seeing doubles, simply because I had become accustomed to travelling at 20m.p.h but I would hate to REVERSE!ouch….

A minus would mean “reverse”, so I would want to park and come out of the vehicle….The problem is, you have to wait before you are allowed to exit the vehicle…In other words you can’t get your money when you want….you have to wait up to 10 weeks…..
Jay Says:
May 1, 2008 at 6:07 pm FID/Police raids valuation department at customs !!Bruce not joking. 2008 range rover – duty only $800k.Police there all day, phones taken from all employees. As usual some poeple knew ahead a time and did not show up for work.
Wan Spec Says:
May 1, 2008 at 6:28 pm Well JohnDoe if you know that Olint is a ponzi, why didn’t you spread the word earlier? What’s the point of intervening now, when the horse has already bolted the barn?
JohnDoe Says:
May 1, 2008 at 6:45 pm I have no problem with the FID actions. Time the government get off the PAYE’s backs.After all if you driving high price vehicles you must pay your taxes like everyone. The line behind Beenie Man in the Tax Court soon get longer.@Wan Spec
If you knew me, I would have told you my opinion a long time ago. We have only just met on this forum. The people who know me personally know my strong position on these UFOs. Going back in time, people brushed you off when you dared to suggest that C+ was a Scam, HW was a Scam, I can tell you about Speedy Cash, Partner Plan etc etc.

Honestly, I feel it for you as you seem like someone who was genuinely mislead. I hope the lost is not too great but I feel that, unlike many on this blog who seem prepared to kiss demi-god’s feet, you are prepare to ask questions and have learned valuable lessons. It seems it is unlikely you will invest a scheme like this again.
Jay Says:
May 1, 2008 at 7:08 pm Not all carryin even burden.
Paye bearing all the burden, The new Government is on the right part, pay your share of the taxes.Seems like the alternatives all invest with each other, so when start having problems with money, it affect every other one.The collaspe of C- now seems to be having a ripple effect.
Wan Spec Says:
May 1, 2008 at 7:09 pm Anyone who could do some basic reasoning and logic had to see Cash Plus for what it was. Anyone who went to HW’s website had to see that operation for what it was, (after you finished laughing). I personally know traders and persons in the forex business who personally know David and have personally vouched for what he does.
unreal_investor Says:
May 1, 2008 at 7:49 pm Bwoy I miss the days when Olint was under the radar. All who a fret now and want financials shouldn’t have money in Olint… Its a R@$$ club, not a fiancial institution… When money free up, mek sure unu tek out whole a yuh money, don’t leave none. Unu lucky seh DS feel like share how fi mek money wid you all. In one month him give yuh more money than you can mek in the bank fi 2-3 years. Ungrateful comes to mind… I tell you, him feel like shut down Olint, but him get talk outta it. Gwan entertain JohnDoe argument if you like, him have good teaching from Nocotec school of blog killing…
Patricia Says:
May 1, 2008 at 7:50 pm JohnDoe where you get that nonsense that DS is the “best trader” in the world???…LOL, listen man there are traders out there that make his returns look like chicken feed. I dont need to look into his black box or whatever. Everybody isn’t in the same boat, just as much as everone’s risk tolerance is different. I recognise that for many the thought of a “loss” is unimaginable, but for me its all part of investing for the long run. I look at my returns over a 12 month, 24 month and 36 mnth range, not what happens month to month. If I invest 25K and get net returns of over 25% pa that is great and fx is just one investment avenue for me, and DS is just one trader.
Patricia Says:
May 1, 2008 at 8:01 pm Unreal_Investor…they have succeeded in boring the others to death with all their pontifications so they’re all over the blogosphere now saying the same thing over and over. For people who are smart and not in any of these stupid ponzis they certainly are investing a lot of time in these fool fool blogs. LOL…. O is a ponzi O is a ponzi O is a ponzi…demand audited financial statements demand audited financial statements….there now enough already……anyway back to sipping my tea and reviewing my “investments” HAHAHAHA..they just crack me up!
unreal_investor Says:
May 1, 2008 at 8:06 pm Patricia, Amen!
JohnDoe Says:
May 1, 2008 at 8:11 pm Great Patrica, diversification is good. That is a very good point. In addition to ensuring that the investment is a real investment and not a plain scam, NEVER put your eggs in one “investment” basket.You also make a good point about risk tolerance. People must define that.Know what you can lose without having a heart attack or wanting to jump off the Pegasus. See how Patrica can yawn at the fictitious -17.65% gain for AprilYou also make a good point amount investing for the long term and not looking a short term basis. Getting Rich(or Richer) quick, in get rich schemes, can prove disastrous .

On DS, let me clarify something. I never said he was the best, I said IF he is, as some people claim, and that is beside the point.Anyway you have “nonsensed” that argument. The point is openness and transparency.

If we were talking about 25% net returns per annum I am almost sure we would not be having this discussion.
Overchill Says:
May 1, 2008 at 8:40 pm “Banks average two per cent to four per cent per day from buying and selling foreign currency because they sell at a much higher rate than they buy, resulting in returns of approximately 40 to 80 per cent monthly. This is the same principle which Forex traders use to pay high returns.”
PEI Says:
May 1, 2008 at 8:57 pm Driva, to much new name popping up. you need to check them out because it look like some idle people just coming on to cause trouble.all the people who know that ponzi out there thiefing people money go tell the police. If you dont know nothing then shut your mouth and come out of people business. none of you have any real concern .Some people just too idle and chat to much. Look how Jamaica corrupt and the government them thief and waste taxpayer monet. Are you talking about that and going on the blogs on those things. The country in a mess the crime is killing us off the thiefing politicians not doing there job and yyou idlers chatting all sh about ponzis unu need to clear out and go sidung.
Think and Check Says:
May 1, 2008 at 9:13 pm Overchill 1072The pastor’s math in that article you quoted is wrong. The logic is also faulty. If the bank buys $100 US each day, it would have to sell back the entire $100 each day. Making 2 to $4 each day. In reality it does not sell all it buys on the same day. He is just adding 20 business day amounts and assuming the bank does a round trip (buy and sell) of all purchases each day. If that happens to be correct, he is still wrong.The bank is buying and selling foreign exchange. This is relatively risk free with no speculation involved. The bank simply buys Dollars and like any normal business sells it at a higher price. The Ja dollar could rise and the bank could be stuck selling at loss but this is relatively rare in JA.

Forex trading like Olint and others are involved in is speculating. They are making bets that currency pairs will move up or down in relation to each other. This is very risky as they cannot predict with certainty that their bet will be correct. If the pair moves in the direction of the bet they win, if it moves in the opposite direction they lose.

The pastor was attempting to compare apples and oranges. If he was going to support the schemes he should at least understand the basic concept.
RedP Says:
May 1, 2008 at 9:25 pm 1074
PEI, NUFF SAID BREDREN !!
Leaving Babylon Says:
May 1, 2008 at 9:50 pm I’ve brought this up once before and no one has commented, but on the issue of high returns I have to say this again, even here in Babylon you could work for the Federal Reserve, know what report is coming out, call your wife at home and say, “Time to go long the USDJPY.” And this would not be considered insider trading, it would not be a RICO violation, a Securities violation, etc. – it would be perfectly legal.For the most part, the only truly consistent forex traders either had serious banking experience or heavy institutional experience – very few people can move through the retail phase and into managing millions successfully. I’m just trying to point out that there are very real “insider secrets” that you won’t hear many people openly discuss. The retail guy just can’t see the depth of market. It’s like the difference between blind day trading and having a Level 2 interface where you can see the other houses’ orders lining up. There are advantages to understanding the banking side, although I have to dispute the 40-80% per month comment (sorry Overchill).
Yardman On Wall Street Says:
May 1, 2008 at 10:52 pm May Daisy has posted a Communigram.
dehustle Says:
May 1, 2008 at 11:04 pm Yardman
Since yesterday its actually quite lucid the lithuim must be kicking in Sorry me bitta bad , Pple who have u money and turn off dem phones will do that to You:-0
RedP Says:
May 1, 2008 at 11:12 pm OLint is a ponzi, olint is a ponzi, olint is a ponzi, olint is a ponzi, olint is a ponzi, olint is ponzi.
Yeah right, and the queen’s sh*t smells like roses.Since I have found this blog I have really learned very much and am appreciative of those who have expounded on things I didnt understand before. You all know yourselves. You have given me the drive to explore a world that was foreign to me and also a bit daunting and you guys have really opened my eyes.
I find it unfortunate that some ppl who appear to have somewhat of an intellect seem to be unable to put forward a point of view without repeating it ad nauseum.
If one holds the view that all these investment clubs are most likely shady/ripoff/scams/ponzis/mls et al because they are not forthcoming with certain documentation, regulation and so forth, fine, state your opinion/ view point/ reasoning. We are all adults here and able to think on the points being made and arrive at a conclusion.
Therefore I feel that there is no point in repetition as people have already seen your stance and decided as to whether the diatribe is valid or invalid or a bit of both.
However, to sound like a broken record or a skipping cd, I think, belittles oneself.
Regards,
RedP
Yardman On Wall Street Says:
May 1, 2008 at 11:27 pm READ & BE INFORMEDMy Big Fat IRS caseEven if the money is from a legal source and used legally, the government can charge you with a crime and/or demand you forfeit cash.

http://www.forbes.com/business/forbes/2008/0407/038.html

Cash Is King

Spitzer should have used a stored-value card and put money on that,” “It is almost an untraceable instrument.” Prepaid cards have become a big money laundering concern for the feds.

http://www.forbes.com/forbes/2008/0407/036.html?boxes=custom
Stress now Blessed Says:
May 1, 2008 at 11:49 pm Driva,
Mi Clide a di passenger dem dat dont pay FULL fare and tek up all di seat dem, and passenger weh pay full fare a fi come off or stand up ina cornerDriva- do you have the latest ejecting technology where you could just place one quietly under the seats of
JOHN DOE- the unidentifed who need to go find a Jane Doe or another John Doe to go play wid,
JAY- the idle ‘fool fool’ ‘chupid’ ‘don’t have much common sense’ pontificator and THE BAR- the drunken fool who spent too much time in the rum bar… and mek decent passenger get space fi sit dung so we can tek on the long,,long ,long journey without so much discomfort.It look like I gwine have to just come off at di same stop weh Enlightened, JaCan and some other full fare passengers came off till you EJECT dem mascot yah or just don’t come pon di bus when mi si dem pon it.
**********8***************
since dem not brite, mek wi tell dem tomorrow seh O post 100% gain for April – dem mightn smart enough to realize dat nuttn nuh go so and go in Cardiac A. and di Driva wont even have to eject dem, cause dem woulda “TEK WEH DEM SELF.
*********************************************************
M y D ears – what a faciness from di African dem? A write dem a piece a letter you si – dem gwine use the new technology pon mi, which frankly mi wouldnt care as long as dem let mi off with mi fare.

Ok later “O” M y D ears—– Driva one stop – a coming off!
RedP Says:
May 1, 2008 at 11:51 pm Patricia
if you are in Canada, can you tell me if the article in the forbes post #1084 concerning structuring is against Canadian law as well??
RedP
Patricia Says:
May 2, 2008 at 12:04 am RedP, I honestly cant help you there. You will need a lawyer or a banker, I guess, in Canada to tell you about that.YardMan, the power of the mighty FinCen. Business and banking in the post 9/11 era is fraught with all sorts of complexities and the good and the bad are being caught in the same net.
RedP Says:
May 2, 2008 at 12:17 am Thanks Pat
RedP
Think and Check Says:
May 2, 2008 at 12:44 am Redp 1082Relax and think and check. Probably 95 % or more of the blog comments are those that you like. Maybe 5 % you don’t like. The 95 % can be summarized into one paragraph. The reason they are not repetitive and bothersome to you and others like Stress is they agree with your opinions.The remaining 5 % are bothersome because you disagree with them and they are worrisome because if they are right it will be very painful as you will lose a lot of money. Relax they are only words and they cannot hurt you like gunman. Is just words man. You do not have to be afraid of them like is gunman a try come kill you.
jay Says:
May 2, 2008 at 6:34 am Money Express – Azan assets frozen. !!Well maybe a bit late as Mr Azan has already moved out of Jamaica with his family after the collaspe of his ” forex trading business” aka ….. .
RedP Says:
May 2, 2008 at 7:03 am 1089
Think & Check,
Relax, I fret not. There are worse things in life than losing funds.When ppl have the propensity for regurgitating verbal diorhea it just gets tiresome. Especially when there are so many other things in the investment world to learn and discuss. Why rehash comments over and over, jus dont make sense to me.
So, as I said before, pay no attention to simple minds.
I for one have no time to waste.
RedP

Posted in Old Inv. Clubs Archive 5 | Leave a Comment »

Old Archive 4 – Investment Clubs

Posted by Kevin on March 14, 2008

Mercury Vapor Says:
April 2, 2008 at 12:01 am eOr Mercury Vapor Now Stressed!Cho, mi gwan go sleep! Good night people, take care, you know I love you all.A wish all of you the best.
Enlightened Says:
April 2, 2008 at 12:04 am eIf anyone really belies that 16.04 figure that i see posted in my account i have the title to jupiter to sell you for a good price…ive been waiting for it though…. i felt it was comming and i’ve already made it clear that i dont buy that DD argument…now oniel i like your post at 551… and yes those are the questions that people should ask…. but i get the feeling that there are other objective posters here that knew there was going to be a large posting this month…well let me say this (im trying not to walk the FR line)… Anybody that believe that figure that has been posted to their account is nothing short of gullible… the figure looks nice… but what is see as my gain is more than some people have been waiting 2 months to get!!! and still being told may… and im suppose to reasonably believe that…

If we are honest with our selves we know that if the money available for trading its available for payout, if the DD stop one it would stop the other.

The timing is questionable… for those with links call them and ask them what they believe….
Stress now Blessed Says:
April 2, 2008 at 12:08 am eSo what you say overchill -It’s hard to train staff here with overseas methods -
LOOK HOW MANY PPL NEED JOBS, THOSE WHO ARE UNTRAINABLE, ARE REPLACED WITH ONES THAT ARE TRAINABLEtake for example the police. They have experts here being paid by the UK government, they just dont want to listen,
GET RID OF THEM AND GET POLICE WHO WILL LISTEN – A MATTER OF FACT, GET RID OF ALL OF THEM. “POLICE INA BAR?” A DRINK INA UNIFORM A MERICA – HIM DID HAVE A JOB.and this goes all the way to the top.
PRIVATE ENTITIES DIS-INTERESTED (NOT TO BE MISTAKEN FOR UNINTERESTED) SHOULD BE FORMED TO OVERSEE THOSE AT THE TOP FOR THE GREATER GOOD – THE GOOD OF THE COUNTRY

You would have to change the mindset of people to think not just about themselves, but for their country as a whole.
WE DO THAT THROUGH COMMUNICATION AND EDUCATION GAINING OF TRUST. BECOME A “SEE CHANGE” GOVMT NOT A “TELL CHANGE”

Too many people are in big jobs just to reap everything for themselves.
ALL DEM PPL IN HIGH POSITION, SHOULD GET USE TO TRANSPARENCY- DEM LIFE SHOULD BE AN OPEN BOOK. TO WHOM MUCH IS GIVEN, MUCH IS EXPECTED. GET RID OF THE ONES WHO DON’T WANT TRANSPARENCY FOR THEMSELF BUT WANT IT FOR THE HYIPS. THERE FILED TAXES SHOULD BE PUBLIC INFO AND THEY TOO SHOULD SHOW SOURCE OF FUNDS – EVERY LAST DROP’

“CHANGE I CAN BELIEVE IN”
“THE AUDACITY OF HOPE”

WE NEED A “BORAK O” IN JAMAICA, IF IS EVEN TO KEEP HOPE ALVE!

PEACE OUT!
InForTheLongHaul Says:
April 2, 2008 at 12:08 am eMercuryVapour #578.
LOL. Some people just want to stress us out. We ignore them. I love this blog even though I hardly contribute. Dont make others spoil it for us. Yes VERY addictive.Overchill #577. Biggest barrier to overcome in Jamaica is the mentality of those who do not want change. They will complain about how things are yet resist any thing that may actually change it for the better. Changing the mentality is always going to be the big problem. People want big position for the money and status yet do not want to do what the job requires. And you are right, this goes right to the top. Until accountability is demanded from the highest levels this will continue. Maybe we need to tell some people about how China deals with gross failure or negligence at the top. They execute them!
InForTheLongHaul Says:
April 2, 2008 at 12:14 am eStressNowBlessed #582
Well said!
RG Says:
April 2, 2008 at 12:19 am eEnlightened #581You know you have an excellent point there! About 8 months ago I had a swiss broker, finex, the govnt did an audit, which correct me if I wrong is the same as DD, at which point my funds where frozen untill after the audit which took about 2 months but in that time period I was not only not allowed to trasfer money but I also couldnt add money nor trade on the account. Actully forget all that I just said the DD is not on Olint right? It’s on the bank right? If thats the case trading wouldnt be affected by the broker but the trasfers from the broker to Olint would be disrupted, which would make senes why olint cant give out money. Can someone please verify this info.
Stress now Blessed Says:
April 2, 2008 at 12:21 am eIFTLHACCOUNTABILITY! Thatis the word that alluded me ACCOUNTABILITY.There is no accountability fi nutten in jamaica.Did you know there aren’t as many murderers and criminals in Jamaica as we think?

We have REPEAT offenders, those who murder live to murder again and again, those who steal, live to steal again and again.

MORE CRIMES ARE UNSOLVED IN A MONTH, THAN ARE SOLVED IN A YEAR.

POLICE HAVE ABSOLUTELY NO TRAINING ON SOLVING CRIME -

THE TRUE COPS AND TEACHERS ARE DEMORALIZED AND THE NEW COPS AND TEACHERS ARE THERE FOR THE PAYCHECK

*********************************

MERCURY – NOBODA WID DI DAT! GO SLEEP AND WAKE UP FRESH A MAWNING. SEE MI CHANGE DI TOPIC
Enlightened Says:
April 2, 2008 at 12:22 am ePlus tonight on CVM news it was revealed that Carlos Hill’s cash plus will be getting a loan from a financial company (read private bank)in Turks and Cacios which he is associated with…I cant even begin to tell all the bolggers how much money C+ has… The Secret Stash that i talk about in a “Private bank” is not even that one… is one right here in Ja… so that one was news to ne and i cant take credit for telling you that their is money in a “private bank”100 mill divided buy 4 executives equals 25 mill a piece. 100 mill divided by 40,000 investors equals 2500 dollars… I think i might give the receivers a call And as for that 16.04 in all my years… sigh!!

I really dont like when people dont respect other people wheter its FR or nocotec calling people fool or an investment insulting its members intellegence by posting figures like it believes the investors are fools.

if You dont see me for couple days is cool im going to cool off…

16.04% him really think that is a bunch a idiot him a deal with!
Firecracker Says:
April 2, 2008 at 12:33 am eHello all
First time posting. I am now fedup with WW, . Talk to CS by phone and request balance via email, was told that it will be emailed in 48 hrs. Three wks now and nothing. Over seven days now I am calling their tele and no answer. What is wrong with website, tele or CS? Enlighten me please somebody, anybody.
InForTheLongHaul Says:
April 2, 2008 at 12:48 am eStressNowBlessed #586I was talking to a teacher friend who teaches in a basic school. Asked her how she motivated the kids to learn. She sey she only business wid di ones who want to learn and whose parents show an interest. She nuh business with the rest.This is BASIC School! First exposure to education and the teacher doesnt care. Here she has a golden opportunity to invest her skills and time in moulding those that society has potentially earmarked for failure mainly because of their background and she just lets them slip through her hand.Goes to show the different mentality that exists in the teachers now. Such a pity. Poor pickney dem lose either way. Parents nuh business, dem get a second chance an go school and teacher nuh business.

I told her thats her pension (or lack f it) she is letting slip through her hands. Because if there is not a substantial and effective workforce in 30 years time when she is redy to retire, where is the government going to get revenue from to pay pension.

Still, where there is life, there is hope. I trust in God to continue to hold up Jamaica and pray that collectively we will come to our senses.

Good night all! Mi gwan a mi bed! Thanks for entertaining and informative night!
Firecracker Says:
April 2, 2008 at 12:54 am eCould WW no response be a signal to take all of my funds before it is too late. My last balance posted was 3 months ago.
JK Says:
April 2, 2008 at 12:59 am efirecracker ppl still collecting nuh worry
Firecracker Says:
April 2, 2008 at 1:06 am eI have never collected. I am nervous, making arrangements to collect principal next month though.
Roli Says:
April 2, 2008 at 1:07 am eRe #581
This is what i was saying earlier. I dont think the DD (if there is one) is on O. I think it is on their broker. I believe trading would still be able to go on but withdrawals would be limited. This fx thing can be quite crazy sometimes too. I have seen brokers collapse leaving traders with nothing at all. But at the moment i am just speculating.
Island Girl Says:
April 2, 2008 at 1:20 am e“Regulation a good thing IF regulators understand nature of the business and are not unfairly protecting vested interests of significant players who do not want to see the likes of DS suceed.”InForTheLongHaul : I agree with your statement above.I am waiting to see if WW will get regulated. However as firecracker has pointed out their CS & accounting needs much improvement. To get a balance is like pulling teeth. It just may be harder to get regulated if clients can’t get a simple balance. Was told earlier this month by a CS rep that their accounting system would be sorted at end of this month so clients could get balances. This seems not to be the case. Hope they sort this out soon, its quite frustrating.
ForexGuy Says:
April 2, 2008 at 2:54 am eNO NO NO!!!!!
It look like FR really lost it and went and did something a little bit crazy!!! LOLhttp://www.local6.com/news/15762829/detail.htmlSeriously though, this is a sad sad day for all of Jamaica. Now they not only going to hit us with the ‘plant’ sniffing dogs, but the bomb sniffing ones as well.HORRIBLE!
Watchful Says:
April 2, 2008 at 4:39 am eThis is the latest from WW.http://www.worldwisepartner.com/notice.htmlDoes this apply if you do not collect your interest monthly?
bigson Says:
April 2, 2008 at 7:01 am ei would ask the same q too
Overchill Says:
April 2, 2008 at 7:36 am eObama!!Pfft, we need a Thatcher here. JPS going on strike!! Yeah right, get the army in
Overchill Says:
April 2, 2008 at 7:47 am e“My friends, we live in the greatest nation in the history of the world. I hope you’ll join with me as we try to change it.”– Barack Obama
Enlightened Says:
April 2, 2008 at 10:03 am eGood to be cayman…http://www.jamaicaobserver.com/magazines/Business/html/20080401T220000-0500_134114_OBS_THE_HEDGE_FUND_OPPORTUNITY.asp
Enlightened Says:
April 2, 2008 at 10:22 am eInteresting article on the human side of the cash plus affairhttp://www.jamaica-star.com/thestar/20080401/news/news2.html
FedUP Says:
April 2, 2008 at 11:41 am eDr. Blessed, still no luck. Guess it is not MY time yet, will try again during the course of today.
DR Says:
April 2, 2008 at 11:42 am ePpl, you can’t sell your house to put the money in the alternative… unless you have more than one house….. I would take a chance with my car, but NOT my house…….Would you gamble on a horse with your house money?To each his own:Personally, I agree with “Invest with what you can afford to lose”.
I certainly did that with Minvestment… I lost a small amount, less than $100….but I would not be able to say the same if anything serious were to happen to the beloved African club…. I basically emptied all my “reserve” money into this club.

Hopefully my daisies will bloom. But really what is it that make us trust one investment opportunity over another, most times its the quality of management team or proven track record…certainly not the fact of registration or License.

Wasn’t Century National licensed? and so too was Eagle Commercial? What about Mutual Life?, my Friends at Caldon? I could go on and on.

What difference does registration make? What guarantee? As a matter of fact, some financial institutions that we like are not protected by JDIC. That is a fact.

In any case you are only covered up to a maximum of $600thou JAM per institution. Really now: Is that any major coverage.

There are 4 commercial banks in Jamaica so you would only be covered up to 2.4 million JA$.

Are Credit unions covered by JDIC? I am not sure.

* By the way, it is interesting to note that 3 of the commercial banks have Canadian links. So really only Grace Kennedy’s First Global is fully Jamaican…… food for thought?
Enlightened Says:
April 2, 2008 at 11:57 am eDr on a point of correction there are six (6) active commercial banks in jamaica:1) Bank of nova scotia
2) national commercial bank
3)RBTT
4)First caribbean international
5)Citi bank
6) First global bank* Pan caribbean has been granted a commercial banking licence but has yet to begin operations they have put the date at somewhere in the thid quarter.
DR Says:
April 2, 2008 at 12:00 pm eCorrection:There are 5 Commercial banks plus Citibank in Jamaica according to the website of JDIC.Four Building Societies are covered, but where does the credit unions fall? Where does JMMB fall?check this out:-

http://www.jdic.org/policy_holders.htm
DR Says:
April 2, 2008 at 12:01 pm eThanks Enlightened, I think while I was typing my last post you were correcting me at the same time.
Enlightened Says:
April 2, 2008 at 12:16 pm eAny one have access to the CVM news last night with the Turks and caicos bank that cash plus will apparently be getting the loan from… as cvm put it las night carlos hill is linked to that bank…The news gave the name but it did not repeat the business section in the late news….It would be nice to get a replay of the news cast to investigate the Turks bank that CH has links with…That is not even the “private bank” in jamaica that ive been talking about… so the “stash” of other peoples money might be bigger than i thought.
Carla Says:
April 2, 2008 at 12:17 pm eDR # 604Credit Unions have thier own coverage and were the first group of financial institution to provide coverage for their members. In fact they guarantee 100% of member savings through insurance fund.With the move towards one super regulator, credit unions will soon be required to contribute to the JDIC and their fall under their coverage.
Marsha Says:
April 2, 2008 at 12:18 pm e#594…ForexGuyOMG!!!! What would possess this guy to do this? Lawd of mery that is not good for us now! Dem a go pressure wi more now at the airports!!On a different note….can you email me at maxhug920@yahoo.com? I have a quick question for you. Thanks much!Highly Blessed,
Oneil Says:
April 2, 2008 at 12:25 pm ere 598I feel sorry for Obama, he is critisized by the whites for living like a regular black man, who goes to a black church with a big mouth pastor, and at the same time he critised for not being black enough by black people. Poor fellow, when those white realised he is really one of us ,not one of them they getting scared.On fox news I heard a black pastor calling him a pimp, and worthless because he was born of a white mother.Black Americans are hypocrites, they really have the nerve to go on american talk shows and degrade Obama, poor black people, we dont think we good enough to be anything.At least Obama believes he can be somebody, what i find interesting is that when some stations like foxnews which are racist, they always use black people who dont like him to represent the opinions of other black people.

GO OBAMA, TELL THESE RACIST WHITE PEOPLE AND THESE POORLY ESTEEMED BLACK PEOPLE THAT U HAVE THE BALLS TO THINK U ARE GOOD ENOUGH TO BE PRESIDENT, CANT SAY THE SAME FOR MANY BLACK AMERICANS, IF U DONT THINK U GOOD ENOUGH TO ANYTHING, THEN U WONT BE ANYTHING.IF IT WASNT FOR PEOPLE LIKE MARTIN LUTHER KING, THERE WOULD BE BLACK STILL THINKING THAT IT’S A PRIVILEGE TO BE A SECOND CLASS CITIZEN OR TO STAY IN THE BACK OF THE BUS BEHIND WHITE PEOPLE.
Enlightened Says:
April 2, 2008 at 12:38 pm e“Obama cant run america… no black man can run america!!!”The sad part about that comment is that it would appear that proportionately more black american are the ones saying that…Well to them i Say YES HE CAN!!! CHANGE IS POSSIBLE!!
Yardman On Wall Street Says:
April 2, 2008 at 12:48 pm eLewFam posted returns of 14.44% for March.
Very Positive Says:
April 2, 2008 at 1:01 pm eAnyone:- does “O” and “OTCI” pays the same rate?
FuzzyOriginal Says:
April 2, 2008 at 1:24 pm eFunded my OTCI account but have not seen the reflection in the account as yet. Anyone having any problems with this also.On another note WW is going well. Paid them a visit over the holidays, no problems with withdrawal etc. Seems that the people had more money for the Easter. More parties, bigger parties and pricier parties. Some thing must be going right. Apparently, the fall of c+ must only have affected the small man
DR Says:
April 2, 2008 at 1:29 pm e607 Carla:Thanks for that piece of information BUT does the pending move means that your credit union safeguard will be limited to $600,000?If this is the case, then it will be a BACKWARD step.But then again, that is what we are used to in Jamaica, backward steps, for the most part.

I wonder, if O will win the case against “that bank”?. Now that would be a forward step.
DR Says:
April 2, 2008 at 1:33 pm eOn another note, we have to pray for Obama and his family. If he wins, he is going to need the whole US army to protect his life. That is the word on the road.Barack, Please stay close to The Lord, afterall only HE can protect you.This is indeed a strange race, a BLACK MAN vs a white WOMAN..hmm
DR Says:
April 2, 2008 at 1:37 pm eEnlightened, I wonder if the TCI bank that CH might be getting the loan from is the same bank that DS has major connections. (if you know what I mean).hmmmmmmmThoughts? Implications?
Stress now Blessed Says:
April 2, 2008 at 1:40 pm eJcan, I don’t know why, but I think you could innterpret below for the good of all – Let it make sense. Thanks.FOR INFORMATION ONLY:Guys, I don’t know if it is just me, but when I should be feeling very happy about “O’s” 16.04 – I’m not.
so…
I made a call to a friend in the office of “O” because I was a bit concerned about the 16.04%. The question to the office worker was “why the interest so high?” the answer was not sure why it was high but said maybe because money was not removed from the platform for that month. Never get the feeling that worker knew why either, because worker say “I’m confident in DS” so I called upon a friend of mine who has money in O and incidentally is doing Forex classes now for over 3 months. He is quite good with numbers and is very analytical “BRITE WITH NUMBERS” as we sometmes say – and asked him simply is 16% possible for “O?”He said – it is funny that I asked that question, because his professor in last week’s class said “ppl in O could possibly see high returns for March” he said the assumption was based on what was happening – something to do with consolidation 4-5 days then movement usually is fast thereafter and then consolidate again but it depends on “lots” traded.(I’m not sure if that is another word for leverage).

He gave this REAL Scenario:
He said someone started out March 1st with $8000.00 in 3 days had $16,000 but within a few more days made bad trade and went down to $2,000.00 -trader went aggressive and closed in I’m not sure if it was 11 days or 15 days total with $48,000.00.

He is said it is highly POSSIBLE.

Maybe those of you with FOREX experience can make sense of what I wrote and explain for the good of all.

Thanks
Stress now Blessed Says:
April 2, 2008 at 2:16 pm eFedUp
I’m on phone with Paul right now- keep calling till you get him. He was on vacation.
Enlightened Says:
April 2, 2008 at 2:44 pm eDr…To tell you the truth, hearing that Cash Plus was Going to get a little reprieve from and institution in Turks and Caicos just makes me wonder about that jurisdiction… why would you lend money to a company in receivership that has been declared insolvent and that cannot produce any audited financial statements. And realising that there is stronger possibility that we are being taken for a ride (16.04%.. and can bearly squeeze out some little encashments.. is what O take us for) all this together knowing that O is in TCI… its just looks like pieces lining up and i dont like what the picture looks like….Stress…well this much ill say for your comment, you are right the people working for O are sckeptical as well of the %age especially because they are the ones dodging the cursing customers on a daily basis. As for the Analysis if that reasoning were to hold then the %age could be that every month because it would always be applicable… and last month the market had a lot of shocks the BS issue ,the bombing of the army recruitmet center etc which made most trend watching plain useless.

16.04% …im still laughing… i hope that i can eventually cash out some of that number.
Dehustle Says:
April 2, 2008 at 2:59 pm eStress
Re Daisies
which number u get through on ?? calling from last week, ie one hand on my laptop , one hand pressing redial wid phone kotch at ears daily
gimme di last 4 digits
joejoe Says:
April 2, 2008 at 2:59 pm eStress now Blessed I myself have been playing with a demo account with 10k, in 1hr I increased the pot by 7%. I would say the month of March was a good month for trading if you made the correct picks.
FXTraderInDaHouse Says:
April 2, 2008 at 3:13 pm eEvery month is a good month for trading if you make the correct picks.
Overchill Says:
April 2, 2008 at 3:23 pm eMaybe CH gots himself a bank now… He always wanted one to play around with
I’ve seen stranger things happen.
danews Says:
April 2, 2008 at 3:34 pm ebig folly to compare demo accounts to real accounts. they are very misleading.you will never feel the same adrenaline when putting demo money on the line as with real money. you will never behave the same with demo money as with real money. I have seen people get depressed when they make a losing trade with real money, but with demo money, they just shug it off…demo gives a false sense of self
Oneil Says:
April 2, 2008 at 3:45 pm ere 617 STRESSED NOW BLESSEDI think it is ridiculous to ask DS why is the rate for march so high, it appears to me that when the rates are high people get sceptical. The real question to be asked is “how is it that u are able to pay high returns on a consistent basis”.The truth is that traders work off commissions, the higher rate he earns /the higher commission he can earn off ur money. A better question to ask DS is “how much money are making off my margins”, that to me would be a smarter question to ask, as some good traders are known to make as much as 100% on a good month, he could pay u 16.04% and take the 83.96% for himselfThe real question to ask him is when he makes losses on a given month ,where the money he pays out come from, ie new money or old profits. Not that will tell u if he running a ponzi or not.

I believe DS simply took less commission for himself for march, and decided to pay this out because people are losing confidence in him , and they want back their money. 16.04% might just encourage some members to not encashment all of their money.

The truth is accounts can be manipulated, but only way u can really know how much money he makes, is by viewing his trading accounts. Now has anyone in here seen his trading accounts which shows all his profit/losses,?????????????????????
Enlightened Says:
April 2, 2008 at 4:07 pm eOniel…
why are your second third or forth questions any less ridiculous(your words) than stress’ first question…The better question that you point to would answer stress’ first question and note that you have 2 real questions to ask one of which you already answer because it would never be answered… no one admits to a ponzi till they are caught.With that said im just trying to Demonstrate to you that the questions being asked by other are no more ridiculous than the “better” one or “real” you ask…
Patricia Says:
April 2, 2008 at 4:10 pm eOneil, again u r spot on. I have never really bought ino the actual returns declared each month, (notice I didn’t say paid), because u really u dont know the basis of the calculations without actual sight of the trading accounts, which can be manipulated to reflect whatever u want.That said, I don’t necessarily see anything spectacular about the return of 16.04% for March per se, traders have made times that in less than a month. This March was turbulent yes,and in some cases extremely volatile depending on what u trading, and which side u r were on, and ur leverage, so dont get too caught up in the actual posted return…in O’s case the proof is in the payment as I have said b/4.Some firms trade very aggressively and have nothing to show for it, while others are able to stay ahead of the curve, look at CHFX for eg, between Nov 07- Feb 08, many traders took a beating or posted less than projected returns, while CHFX’s strategies pulled through handsomely.Some pple believe we dont like to hear detracting words, but guess what ? We loyal and we patient, but we head nuh inna no sand.
Oneil Says:
April 2, 2008 at 4:35 pm e626 ENLIGHTENEDI take ur point, but my point is that if u notice DS rates are steady between 5% to 10%, but in the real world of trading, (my traders and other managed funds for example) its more like between -15% to +30% a month on average.For most traders a variation of 6.04%, (16.04%-10%) is of no real significance.The point i was trying to make is that DR’s knows that 16.04% is not impossible, but i think his concern is that DR believe DS rates are fraudulent.

If DR believes DS is a fraud, then the question to ask is not how he makes 6.04% more than most other month, but DR should request financial statements for all the years he has been receiving between 5 and 10 % and not asking any questions about DS financials.
OneJam Says:
April 2, 2008 at 5:48 pm ePeoples look at this ……. FSC cannot get Ch so dem go after him, shirt. FSC really dont want anybody to get them money ‘even if’ the money is available. Read the following which was taken from another blog, & CVM affiliated news site. As I see it I give it.FYI
News: The FSC to ask more questions of embattled investment scheme Cashplus even as receiver manager holds first meeting.
Submitted by: spurs4eva05 on Apr 02, 2008-10:23 amCashplus has had a receiver manager appointed by the Supreme Court, after the company apparently failed to raise funds to start making payouts to lenders, March 31, as planned.That receiver manager arrived in the island today, and has met with staff at Cashplus advising them of his intentions, which include getting the lenders paid and closing down the entity. However paying the lenders is still subject to information the FSC requested of Cashplus which they have now submitted, concerning how many lenders Cashplus has, how much they are owed, how they are to be paid and where that money will come from.

However, Cashplus’ submission of that information to the FSC has the regulator asking more questions. These are the days the FSC will say it has long been warning about. Cashplus now seemingly in a spot to repay lenders, has sought a receiver to determine if the company has the wherewithal to fulfill obligations to the lenders anytime soon.

But even as the receiver manager begins his work, it is being pointed out that his appointment doesn’t take the FSC out of the picture. The information the FSC had requested of Cashplus before considering varying that cease and desist order to facilitate payouts, was submitted late Friday of last week, answering most questions the FSC had asked.

Mr. George Roper, acting executive director of the FSC, pointed out that had the cease and desist orders not been served on the entity, then probably more investors would have gone in, and a lot more money caught in the net, without certainty of being paid back. But Cashplus has expressed confidence the receiver will find enough money to make the payments, and has identified Cashplus outlets depending on where investors live to make the payouts, with smaller balances to be paid first. Those having over 400 thousand dollars will get only a portion of there money as outlined in Cashplus’ letter to its lenders. And in terms of where Cashplus will get the money from to make any payments, given that their recently published accounts indicated they were insolvent, the FSC director said. That seems to be separate and apart from any funds that may be identified when the receiver manager completes his assessment of the assets of the company. It therefore begs the question; if Cashplus will borrow the money, why bring in a receiver to try to find the funds to make the payments? The FSC says it has questions to ask of Cashplus, but those arise from the information the entity submitted on Friday. The FSC director says those questions will be raised with Cashplus and will be asked when the documents are fully reviewed by his technical team, and they will have to be answered adequately before any payouts can be made.
Lots Ofmoney Says:
April 2, 2008 at 5:48 pm ecoming up to 12 weeks and still waiting for encashment from O….went to the office…they said they wired it to the wrong account….that was 3 weeks ago….what a joke…now they post 16.04%…wooho!!!!!!is that supposed to excite me….if I had gotten my encashment when I requested it then I would be…otherwise, it seems suspicious…..just my opinion….glad to hear some posters finally taking their heads out of the sand and starting to ask questions….BUT with that said, wouldn’t invest with any other of the UFOs at this stage of the game….if i were a newcomer, looking to get in right now….I would stay on the sidelines for a few more months….O says at end of May everything will be business as usual….sounds like DS had locked up a good chunk of the money in a short term investment….no DD from any bank would take so long…again just my opinion….
Dehustle Says:
April 2, 2008 at 5:52 pm eThose of you who were in the O in 2005 will recall that rates of 14, 16 and I think even 18% (yes for A Accounts) were declared during at year
My surprise is not so much with the rate but rather it’s coming at a time like this (In similar turbulent times run DD bank /broker issues etc rates were like 4-7%)
(Seeing some plausible theories being put forward by the Learned FX traders that this a possibility, I dunno know)People will always I guess interpret things according to whatever side of the fence they (and their money) is onRight now Him just can’t win
When the rates is 7% it too low him in trouble
When the rate is 10% it too consistent him fake
When the rate a 16 % it too high him desperateDS bwoy till people start get dem money u just nah go catch a break
Dehustle Says:
April 2, 2008 at 5:54 pm eLotsoMoney
Whh U did deh !
U know how long we want to know if U got ur money
Welcome back
Enlightened Says:
April 2, 2008 at 5:57 pm eLet me make it clear that i saw an amateur make 3% net in one day real trading… then is saw it lost … but what im getting at is no doubt it can be made…And not having made it or as is being alluded to not having paid to clients that amount before is not even what im getting at with my post. When i got 12+ one month my doc got nearly 19+ so is not like i think 16.04% is impossible … not at all let me make that clear.What im ascerting is that if on the collective whole of fund under managment at least 16.04% can be returned it means that active trading took place especially in a choppy month where one would have had to be focused to gain or not to loose. Note that the erratic market in march caused big gain and big losses depending on proper orders and calls.So with all of that it means that money would have to have been available to the trader… and if the DD(which i think is unlikely) is on the broker it would prevent him from moving the funds available for trading. So if the trader can trade the funds and the broker will allow this then it stand to reason that the broker could also payout funds to it clients and equally the trader could payout money to the clients…

In a nut shell Compliance reviews do not stop the outflows of fund and allows the inflows… the fact is that is just not how it is done so posting inordinately large returns to all class of accounts at this time just does not fit with what persons are being told.

I welcome comment as to any flaw in my reasoning.
Enlightened Says:
April 2, 2008 at 6:09 pm eLotsomoney…i was wondering where you were as well.. sorry to hear that the ensachmet didnt come through … but it bet the encashment is close to a 5 digit figure… those seem to get held up.Dehustle…It is like you and me were on the same wavelenght…. our post are almost identical in content… i was writing while you were… but clearly … that demonstrates that the facts speak for them selves
Lots Ofmoney Says:
April 2, 2008 at 6:16 pm eDehustle….sorry every once in a while I come back to peak what’s going on…..this can get very addictive and I must say usually first to break the news….so Kudos to all that post the news articles to those of us that might miss it…..….I also see a lot more negative comments as well which is understandable considering the circumstances, and sometimes you have to wonder what the agenda is of certain posters….I used to spend a lot of time in chat rooms when I traded stock a lot and that is where you will see the “Bashers” and the “Pumpers”….each pushing their own agenda and yes believe it or not actually got paid to Bash or Pump the stock….…the moral of the story is to the newbies out there….do your own DD and take what you read here with a grain of salt…sometimes the regular posters here aren’t who you think they appear to be….rememeber, everybody has their own agenda….a lot of money is being made out there now…and everybody is fighting for a piece of the pie….
PEI Says:
April 2, 2008 at 6:59 pm eLots of Money, long time I want to hear from you. But you bring bad news man. My heart was racing when i see your name and i was thinking that yes you get your money. Lord I am now very disstresed. if you still waiting what going to happen to little me. Yes me too cant jump for joy over what O say them do this month as me really not benefitting if is only on paper that me cant even feel. Look how all enlighten get bringle. that just go to show that things bad bad for true. Sometimes me cant even bother read what is here but i was looking out for you still.
Kriss Says:
April 2, 2008 at 7:17 pm eYou know what’s interesting with that having to do with “DSaviour”16.04 is a surprise to persons who are awaiting daisies planted in the 20sBe guided.
CHECK before expressing what u THINK
Dehustle Says:
April 2, 2008 at 7:27 pm eKriss
Like I said understand the rate not sure understand the timing (havent seen 16% well in over 2 years)
Still have a lot of confidence in the O but that wont stop me from trying to be balanced
Peace
FR Says:
April 2, 2008 at 8:07 pm eThis whole O, thing is actually very sad. Was speaking to some older folk who got suckered in and my heart goes out to them.
Enlightned your reasoning makes sense this whole DD is a load of crap, my friend who works at a major bank in the US confirmed that. When all of this comes to life i can bet that DS probably has not had a winning month trading ( if at all he was trading) in months.
DD somebody should call him up and ask him which broker he trades his forex trades through. Once that info is gained you can simply call up the broker and see if they are going through “due diligence” I would do it myself but i already know the answer to this shibang.
If it walks like a duck, talks like a duck, then it is a duck
FR Says:
April 2, 2008 at 8:17 pm ePeople should watch American greed tonight on CNBC
DH Says:
April 2, 2008 at 8:37 pm eI have been reading the different reasons on the blog as to why O is not paying and I have lost sight of the offical word from O, could someone give the details.
Fancy D Says:
April 2, 2008 at 8:45 pm eFR….this one is for you…..you seem to be licking out on EVERY CLUB lately. So let me ask you a question….a which one a dem you join???
Stress now Blessed Says:
April 2, 2008 at 9:13 pm eOK Guys-
So I posed a question re: how realistic 16.04% is for 0 and the possibility due to the supposed DD.OK, so I can’t contribute much in the area of FOREX, but bear in mind there are no STUPID questions – only answers.I asked about 16.04 being REALISTIC because of the climate surrounding O. I have never realized (on paper) anything more than 14% since I invested July 07 and at the end of Feb, it averaged around 11%.I posed my question to an independent trader to get a feel for what I obviously don’t know and shared the info and the trading scenario for what it was worth.

I am not surprised about 20% by MD, that was fixed from day one -realistic or otherwise.

Neither am I complaining about 16%, I merely just wanted to start a dialogue amonst us as to WHY 16.0% NOW?

Seems I have evoked the wrong emotions.

***************************************************************
Dehustle #620
I called on the 9a -4p (954)#

Sorry I didn’t see your post before now. What I realize is happening is that the numbers ring out and then it says, mailboxis full – I just keep trying until I’m looped in.

FOR THE CONCERN M Y D EARS WHO CANT GET CS HERE IS AN FYI-
Yesterday was 7 weeks since my request, When I spoke to Paul today, I was told that my name is not just on the list, but I’m in the batch being processed NOW and I should get my draft no later than next Friday if not sooner.

NOTE: My request is 6 figures – I’ll let you guys know when it happens.

For FedUps benefit, I asked what request dates are in the batch being processed NOW and he said, late January requests and Early February.

Hope this information helped.

Keep the faith.
DH Says:
April 2, 2008 at 9:23 pm eWappen no bady nah answer mi question???????
Stress now Blessed Says:
April 2, 2008 at 9:43 pm eOneJam,
Re; #629
Mi kinda get that same feeling about the FSC and C+. Like I said before, a deal was cut and money is available to make payouts to members, how much I don’t know – but money is available through the deal and otherwise.I don’t understand why the FSC seemingly does not want members paid, even “SOME” of what they are owed.Why is the C&D order only lifted for FULL payment? Is that the will of the people. I think ppl would rather get back some over nothing.Anything short of CH being jailed atfter their supposed questions – Members should be PAID. This is a DIRTY DEAL.

If they still refuse to release money to members and he walks then FSC is the acronym for
F_____________
S_____________
C_____________

FR -
Right now if REGULATED clubs mean FSC, I will stay in an unregulated Ponzi scheme as you call them.
Firecracker Says:
April 2, 2008 at 9:54 pm eHi all
I got through with ww CS today. I gain some confidence after the communicae and I am going to let my funds stay there a little longer. If only they would keep the communication channel open. But how long will it take for me to learn and do my own trading?
FedUP Says:
April 2, 2008 at 9:54 pm eThanks Dr. Blessed. I didn’t get an opportunity to call today – although Paul told me the very same thing 3 week a back but i’m holding on still.
Vela Invest Says:
April 3, 2008 at 12:10 am e5-step System to Evaluate any Forex Broker
Written by Felix Homogratushttp://www.forexpeacearmy.com/forexbroker/
RedP Says:
April 3, 2008 at 12:14 am eBwoy, All this dialogue now has me more confused than ever, weh fi do?!Check dis. Sold my ‘95 ride and went to the bank to draw funds for mek up for ‘98 ride. Bank ask wha di funds fah?? I politely askrd them as to what business it was of theirs?? After all is my money and not a loan. They allude to some BS about KYC. I wanted to tell them that the funds wre to by coke, however thought that it was more prudent to relent.
New acronym for KYC is TFF- TOO FRIGGIN’ FAAS !!Obama- Like him, superior intellect, man of the people. If he lasts 6 mths. as pres. I’ll be most amazed. Good ole boys dont want some liddle niggra upsetting the staus quo. Tragic.
Besides, the Illuminati runs this world system and economy, they denote who stands and who falls. Dont believe me? Do the research.
Livin n Babylon Says:
April 3, 2008 at 12:26 am eFor 643 – PLEASE let us know on your request. I also have an encashment request near the same time frame and I’m being told that by the end of this month but hopefully closer to the 15th, which makes sense given your response because I’m closer to 5 weeks out than your 6 (also 6 figures).I have traded forex, but mainly work with traders now and I can assure you that 16% in a month is no big deal, especially with all the withdrawals. As the pool gets smaller, it becomes easier to generate high returns. This may sound odd to some, but if you know any fund managers they will tell you that (even in the forex market which is highly liquid) it is much easier to trade 100 Million than 1 Billion – much, much easier.As far as clubs go – I was trying to start my own club for one simple reason: regulations. Forex is a cash business, it is not a security. However once the regulators treat it as such now I can’t do something that I want to like: pay someone a residual on a finder’s fee, close my month out early, shift my performance fee around to make sure that clients get a sizable return, take on a small investor (unless I don not take custody of funds). All these alterations CAN BE for the club’s benefit, but will be made an illegal activity under most securities laws.The larger problem under security regulations is WHO you can accept as a client. It’s getting bad the world over, now even in Panama, which used to be friendly to Forex – everyone wants you (as a fund manager) to only work with ACCREDITED INVESTORS, so the rich get richer. I have pastors and missionaries that I would like to help benefit from these profits, but they can’t because they don’t have a high enough net worth!

I’m starting a company in Europe that will require investors to put up 125,000 Euro just to become a client, because I finally found a good jurisdiction. You may be thinking well what about your friends? Your right, so how do I fix that? I have to form a trust and make everyone a beneficiary. This is a MESS!

My traders in London are averaging 19.96%, I will keep custody of funds and have total control over the account with the broker, while the trading company will only have their limited power of attorney (authorizing them to trade and retain their performance fee). This is what we all would like and as a managed account program you don’t have to have high minimums, because you never take custody of the funds. LewFam tried this with GAIN (a broker in the United States), it could have been huge, but they ran into problems and it didn’t fly. I’m supposed to be hearing back from them when this program becomes available, because then we could all access our funds whenever we wanted.

We all need the lint for sure, but I can say that I have pulled more than I have invested. And I can also attest to the fact that I was expecting a huge month, just because that’s David’s style. He can’t stand to have back to back single digit returns – let alone 3 months. He was due, he had less capital to manuever, and last month had numerous trading opportunities that lent themselves to trending and consolidation more than these wild whipsaw months.

As was stated earlier – every month in Forex has good trading opportunities, but if you know this world some months are better. For example, December is historically a poor month for the currency markets. In forex or currency futures a “bad” month simply means a lot of “sideways action” not enough announcements to drive the exchange rates into anything significant. December 2007 was a really atypical, because the ECB and the British Pound made unprecedented historic moves that really caused some problems for a number of traders, but the few that were on the right side of those fiascoes made a fortune. I know one trader in the states that blew out a newly formed pool worth $9.2 Million – boom gone, just because he wouldn’t cut his losses and live to fight another day.

I know it’s all speculation until we are convinced with encashments, but don’t you all find it hard to believe that if “O” were a ponzi that it could walk through this same nonsense 3 times previously? My introduction to David was by one of F1’s traders who has been talking forex with David for years. David’s no conman, he’s just a simple guy that wants to contribute and be free of regulatory harassment. All of you who keep talking about just giving into the FSC, etc. don’t know what that’s asking for. These are people looking for ways to keep you from accepting the clients you want to accept and forcing you to change your entire business model. Running a managed account pool and running a fund, hedge fund, club, etc. where you receive client funds and then invest those dollars are two entirely different machines. Yes both have their pros and cons, but why turn your life over to people that are clearly looking into how they can fine you if you don’t have to do so?

What we need is more voluntary transparency from David and more communication to club members – not regulatory busy bodies. What forced the initial raid? Who were they protecting from disrupting a business that didn’t have one complaint or one club member saying that they can’t get their money back? What Ja citizen was abused by DS? Now we have more of the same and just like then we’ll have to wait and worry and hear people talk about how 16% is a joke. I’m just thankful that while I’m having to wait, those funds I can’t spend are growing nicely. One of my traders did 34% in February so don’t tell people that 16% is impossible.

Pray and pray some more
RedP Says:
April 3, 2008 at 12:46 am eLivin N Babylon, Your a Godsend.
Bless up
RedP
RedP Says:
April 3, 2008 at 12:51 am eLivin N Babylon, Your a godsend. I will endeavor to pray unceasingly as Paul of Tarsus instructs!!
Bless Up
RedP
Stress now Blessed Says:
April 3, 2008 at 1:19 am eLivin n Babylon Says:
April 3, 2008 at 12:26 amLnB-
I would be honoured/honored (US)to notify you upon my encashment as we seem to have something in common with our request.Your #649 post my friend is the dialogue I was anticipating. I appreciate you taking the time to address in detail my concerns with respect.I am grateful for you.

Stress now Edified and Blessed!
DR Says:
April 3, 2008 at 6:59 am eI’ve been asking the same questions:http://www.jamaicagleaner.com/gleaner/20080403/cleisure/cleisure3.html
Patricia Says:
April 3, 2008 at 9:30 am eLivingInBabylon, I appreciate the time and effort you took to collect your thoughts and put fingers to keyboard Thanks my friend.
Enlightened Says:
April 3, 2008 at 10:17 am eDr…That gleaner article is timely and is asking the questions that people should be asking…As i said before dont put too much on the banking argument because while it is relevant … there are still avenues through which people were getting paid “under the quiet”… let me hint again… when he was buying up everything there were alot of business that he was in negoations to buy, some only barely fell through… but because you dont own it doesnt mean that you can use it(for a fee of course)…The writer ask the simple yet profound questions which in summary is this: how come the legal professionals, the managers, his private security and now PWC receivers can get paid and the investors cant.

Lack of banking facilities wouldnt have been a problem if he had ALL the money (note ALL, alot for a few is not all)

Ps… Found out that there is lint about the place small pieces though… Feb requests.
FR Says:
April 3, 2008 at 10:18 am ePost 649 is the type of nonsense that was circulated to lure people into the scam. Now is the time of truth, the only thing people want now is money. No more theories, no more false praise no more nonsense.
As I asked before which broker the ConMan is claiming is carrying out this DD?
Enlightened Says:
April 3, 2008 at 10:21 am eLOL … lolThis cartoon is going to be a classic!!! http://www.go-jamaica.com/cartoon/
Patricia Says:
April 3, 2008 at 10:26 am eEnlightened that same question about paying the various pple and for ads etc., I asked in a previous post, and again I ask where is the cash being used coming from, a vault somewhere??
Marsha Says:
April 3, 2008 at 10:26 am eLivingInBabylon, thank you for that piece you contributed!! It is well appreciated Highly Blessed,
M***********************************************************************************************
You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, ‘I lived through this horror. I can take the next thing that comes along.’Eleanor Roosevelt
Enlightened Says:
April 3, 2008 at 10:31 am eGood Grief ….FR whats wrong with you!!!! everytime i try to tell the people no to throw you out because you have a contribution to make you step on my toes…. Temper the name calling that you know going to upset people!!! Try this for example:Post 649 While we wish you the best, Now is the time of truth, the only thing people want now is money. No more theories, no more false praise just the facts.
As I asked before which broker is it that O claims is carrying out this DD?See it i sad the same thing.You dont have to be so harsh… is people you dealing with and if you too harsh your good points are going to be overshadowed by your contempt…

It too early to upset people!!
mark Says:
April 3, 2008 at 10:38 am eLivingInBabylon send me some information on the club you are putting together my email is kong.46@gmail.com
Enlightened Says:
April 3, 2008 at 10:39 am ePat…I dont think i can make it any clearer than giving out address’ and bank account numbers Follow me ….C+ has money being held by companies that CH wanted to buy but did not get to close the deals. These companies we simpathetic to his cause, it is the companies that cheques are being cut on… so as to not cause a problem it is spread out.Now as for that “private bank” that i alluded to it is not a commercial bank but a “like bank” operation(in ja i dont know anything about T&C) that has funds from C+ good times. It is helping to “fund” the simpathetic entities.

See it now Pat… you made me have to spell it out and now im probably a walking bulleye.
RedP Says:
April 3, 2008 at 10:48 am eQuestion.
I am just a duncebat layman tryin to mek life with a desire to help the poor and eventually start a charity. There are those of you who post on this blog who seem to appear to have knowledge of finance and corporate structure etc.
Question concerns asset protection:
I was told that if you go to Panama and register a corporation for a nominal fee and transfer all your assets into that entity ie. house, business, car, accounts etc. that if you are personally sued eg. lik dung smaddy etc. that according to panamanian/international law, those assets would be protected and untouchable. Is this so??
Enlightened Says:
April 3, 2008 at 10:48 am eMore on cash plus… deadline set.http://www.radiojamaica.com/content/view/6910/52/
Enlightened Says:
April 3, 2008 at 10:57 am eRE post 663Its not true…Panama is known for its loose financial laws since the time of Noreiga… but they are improving…. but like Brasil and Switzerland many “financial crimes” are not considered crimes in those countries, eg wire fraud, tax evaision(in other jurisdictions)These countries do not extradite people for financial crimes and so if you can get your money there, the Govt wont seize it and you can live there and enjoy it.

but if you are in JA or US and just transfer ownership there then there is no real protection… they will still take your assets and the assets of related parties if it can be shown the you are the “effective owner”, so dont hide it in you mother or sister name
Island Girl Says:
April 3, 2008 at 11:19 am eLivingInBabylon send me some info on the club you are putting together my email is investorjagirl@gmail.comAnd thanks for the piece you wrote.
FR Says:
April 3, 2008 at 11:23 am eEnlightenedWhat is needed is some frank straight talk about these sc hemes. I have never been one to beat around the bush I call a spade a spade. DS and CH has given alot of people false hope and eventually will set this country back because of there scams will set the country back. Alot of people will lose there houses,retirement etc. Many people (foolishly or not) left there jobs and put significant sums into these schemes. The principals and there yes men spreaded alot of rumours knowing fully well they were running ponzi schemes, and up to this day they are still trying to sucker new people in and also continue to issue false rubbish statements about doing 16% last month and DD. I call them as what they are ConMen, if I get kick off this site I will dissapear into the sunset like what I suspect DS will do but more successful than the MD lady who got caught red handed.
Having said the above I understand that people’s feelings are involved and i will refrain from the name calling for the time being, while giving objective critisism.
DH Says:
April 3, 2008 at 11:30 am eLivingInBabylon send me some info on the club you are putting together my email is daneal95@hotmail.com
Dash Says:
April 3, 2008 at 11:36 am eLivinginbabylon i will love to have the info as well.echemalope@yahoo.come
Dash Says:
April 3, 2008 at 11:36 am e echemalope@yahoo.com
Watchful Says:
April 3, 2008 at 12:21 pm e#649 Livin n BabylonThanks for the info you have provided. It has shed light on a number of issues. AS I have posted before, these a ‘young’ in comparison to the more established business, hence the problem with customer service. Even a lot of the very long established ones of many moons also have problems too.In addition, should bear in mind that WW & O are for long term so having different earnings and somethimes losses is normal. I have linked these two entities together due to their similarities ie FX dealings, unlike C+.FXCM computerised managed accounts have not performed as expected. I had tried to register with them but because they were not registered where I live I was not able to. Even registering with an entity who will managed the funds for you was not allowed; they had to be registered with the FSC.

LnB, the fact that your outfit will be in Europe, will you make contact at winlisan@hotmail.com ?
Sharonette Says:
April 3, 2008 at 12:58 pm eLivin in Babylon…if you were reading all the posts from we were at wealthmax, then i think your post would have earned the name ‘LnB…the poor people messiah’, which is similar to one of the links that was created.I think your blog has calmed many a fears where O was concerned…in these ‘turbulent’ times. It sure has shed some more light on the matter at hand.
specs Says:
April 3, 2008 at 1:14 pm e#649 Livin n Babylon
can you email me the info specs_357@yahoo.com
Very Positive Says:
April 3, 2008 at 1:36 pm eLivin n BabylonPlease email me the info on the club you are putting together.Thanks in advance
Very Positive Says:
April 3, 2008 at 1:37 pm eLivin n Babylon,Re 674….my email address is pcammack@nyc.rr.com.
Sharonette Says:
April 3, 2008 at 1:40 pm eLivin in Babylon the email address is shergambino@yahoo.com
Oneil Says:
April 3, 2008 at 1:46 pm ere Living n BabylonDoes any of ur traders trade ur own fx account, by this i mean they have no access to your funds , power to trade for u. if so email me oneil1901@yahoo.com
Oneil Says:
April 3, 2008 at 1:47 pm ere WatchfulWHERE TO U LIVE, I NEED CLARIFY UR STATEMENT
Watchful Says:
April 3, 2008 at 3:19 pm e#678
UK
Patricia Says:
April 3, 2008 at 3:20 pm eWhich one of you people buying up these fancy house?http://www.jamaica-gleaner.com/gleaner/20080402/business/business7.htmlIn JA we just differnt from the rest in America they are trying to sell places like this but no buyers at those price and we here have them. Are people buying them for true. I know that plenty plenty money running for some in the country. Me see all $80million audi advertise in papers. I car for $80million. Oh My Dear
Patricia Says:
April 3, 2008 at 3:22 pm eI guess u need a $80million car to park in your 1+USDMillion home , after all
Watchful Says:
April 3, 2008 at 3:24 pm ePat,
That $80m car is fi MLC. ‘Im need the protection!
Kaye Says:
April 3, 2008 at 3:40 pm eLivin in BabylonPlease email me info on the club you putting together..very interested.
gayan1176@hotmail.com
Watchful Says:
April 3, 2008 at 3:47 pm eBelow is some information that was received today. The aim is not to alarm but to give you an insight into wath traders have to deal with. Most of us, including myself, are novices and therefore depend on the more experienced ones like DS to act on our behalf. Usually, ther is so much behind the scene hence the need to be patient.‘March Non Farm Payroll—Consensus Estimate 50K to 70K Loss in Payroll Jobs
Release time: April 4, 2008 – 8:30 AM EST!Take a look at our economic calendar – IBFX.com/News/EconomicCalendar.aspxThe February jobs report came in remarkably weaker than expected by dropping another 63,000, causing the Fed to aggressively cut the federal funds rate by 75 basis points. February’s decline in payroll jobs, the largest such decrease since a colossal 212,000 fall in March 2003, was notably worse than the consensus projection for a 25,000 rebound and mar ked a third consecutive month of decline.

Exacerbating the situation, not only did February come in weak, but the prior two months were also revised down. The initial January estimate of a 17,000 drop was revised down 5,000, while December was revised down 41,000 from the previous estimate of an 82,000 increase. For Janu ary and December combined, the net revision was down 46,000, indicative of a very clear downward path. February also marked a full year of payroll survey weakness in the goods-producing sectors, with both construction and manufacturing entering its 21st consecutive monthly decline.

Several key factors are thought to have influenced the February NFP report. They include:

Government payroll expected to add just 15K to March payrolls
Private service providing payrolls expected to edge just -5K lower, from -12K in February and a 100K average in Q4
Unemployment rate expected to rebound to 4.9% following December’s 5% high
For week ending March 29, 2008, the Department of Labor reported that the advance figure for seasonally adjusted initial claims was 407,000, an increase of 38,000 from the previous week’s revised figure of 369,000. They also reported a four-week moving average of 374,500, a n increase of 15,750 from the previous week’s revised average of 358,750.

The back-to-back payroll declines that started 2008 is disturbing for the economy as the weaker growth has become more broad-based and trend like. Payrolls have shown weaker growth for four months from a 140K gain in October. Unemployment is rising from the March low of 4.4% but fell to 4.8% in February after reaching 5% in December. Employment trends lag the economy as final demand—in excess of labor productivity—feeds in to labor demand. Earnings growth is fading and stands at 3.7% compared to the 4.3% yoy high of late 2006. The loosening labor market is being watched for signs of unraveling—which many analysts will say has arrived in the payroll data.

What is the non-farm payroll report?

Of all the world monthly economic reports, the monthly US NFP report is the most highly anticipated and has the most dramatic impact on the currency market.

The report, which is released on the first Friday of each month and states the previous month’s numbers, provides detailed industry data on employment, hours and earnings of workers on nonfarm payrolls. These numbers are the best way to gauge the current state of the US market as well as the direction that the economy is heading.

What’s more, the employment numbers provided by the report are used by the Fed to shape their interest rate policies. The health of the US economy and interest rates translate to the strength or weakness of the US dollar.

IBFX-PRS

In light of this unanticipated surge in economic growth, right now is the perfect time to check out Interbank FX’s pioneering chart pattern recognition tool, IBFX-PRS. This amazing tool, which scans multiple currency pairs across multiple time frames looking for recently completed and emerging patterns, is free to anyone with a live account and av ailable on limited pairs for demo accounts

To download IBFX-PRS completely free of charge, click here: IBFX.com/Tools/PRS/

Risk with News Trading

As with all major economic releases, there

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