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Invest. Clubs Archive 1
Welcome and please feel free to share info on Investment Clubs for the benefit of all bloggers. Please keep the content of a high quality and of course humour is required from time to time. For older comments on this Page (Investment Clubs), please view the ARCHIVES under categories in the side bar. During the archive process, note that comments numbers unfortunately will be adjusted.
Donovan Davis Jr. said
This site is very informative. I really do hope everyone will be able receive at last lease their original deposit that they have invested with these FX companies.
futures_trader said
DH #688
Please email me at
shorttimefix@hotmail.com
thanks
Kevin said
Please cease from posting on this archive page. Please use the main page.
Furthermore it will become slower to load.
Owen said
Do you know what MD uses to classify the Jamaican account. I am living in the United States but my MD account starts with JAF*******, does this mean that I am classified as Jamaican?
d_silver_lining said
O’s Payment schedule is delayed mostly because of the earlier email requests that are still coming in and being reconciled. The requests made before March 10th, as we began doing our requests online thru our accounts after that date. The deadline to re-submit these ‘emailed’ requests is May 31st, guess that’s why they said June 2nd.
I’m at fault too, I had too small request from Feb. (totaling $4000 usd) which I didn’t really push to get…sacrificed those to receive the bigger encashment requests
I resent those email requests lastnight LOL, so this delay is totally reasonable.
SORRY for contributing to the delay guys.
Yardman On Wall Street said
Leaving Babylon
I would recommend Nevis & St. Kitts, Grenada, and Costa Rica for relocation.
Leaving Babylon said
Well, my guess is that someone pointed out the following, “Wait a minute. How many people are waiting on signing the new encashment policy until they see the payout schedule? We need to change that – easy enough, Monday, June 2nd. Done.” Again it doesn’t really make a difference, I think the new policy is what they should have been dong all along. So naturally I’m signing off, but man oh man people wanted answers today.
Leaving Babylon said
You heard it here first +++++++++++++++++++++++++++++++++++++++++++++++
Olint schedule to post June 2nd. Does not impact first deliveries and check disbursements on June 5th, but they have not completed the accounting process. Obviously it doesn’t change matters much, but it is a bit disappointing. They simply want the extra time over the weekend to wrap everything up. Hang in there.
Overchill said
People are posting here now.
http://invest4life.wordpress.com/investment-clubs-2/
It doesnt take 10 minutes to load either.
Paige said
Leaving Babylon
Try Aruba. It’s beautiful there and it seems to cater to mixed race people. I heard alot of Dutch people retire there. They speak english and another language that’s unique to Aruba.
DW said
Redp:
Bowy yu hot today the Holy Spirit give you a message for the flock….Amen brother Amen…
DW said
Ms p, I am between Dallas and Fort Worth a quaint little city called Euless.AT times refered to as the DFW metroplex.
Leaving Babylon said
Amen to that – Ps 25:14, one of my favorites.
DW said
Ms P, Good that you will be moving to Austin….I hear that the city is hip and happening for the social guru and College kids.Texas economy isnt doing too bad at this time compare to other states,a number of companies are moving Head Quarters here, as there is vast amount of land for expansion, and prices are reasonable.I am sure you heard the saying “everything is BIG in TEXAS”.
RedP said
Razor 1454
I here you my brother and I agree with a lot of what you say, however as danews says, it is not as bad as forign media makes it out to be. Yes security is an issue, yes I have been threatened, no I dont own a security company or live in a gated complex. Yes I am concerned for my family and I am highly vigilant. No I dont own a gun, infact I detest them. But if you really look around I think that you will find that the good outways the bad.
The vast majority of the population are hard working honest decent people, from poor to rich and have the same concerns that we speak about now. Yes life is very rough, I will not deny that, as I alluded to before, I do not live in a coccoon. Yet I still maintain that if you really and truly compared JA to alot of places on this earth it really is not so bad. I guess you just have to adapt to your surroundings unfortunately.
How do we fix it? Thats a big question. I do my little part, treat people with decency, no matter their background, try to follow in the footsteps of Jesus as to how to deal with fellow man, help ppl if I have the ability to, mentor if given the opportunity and just all around try and be a decent human being and set the right example. Honour, decency, principles, discipline, honesty and integrity. And hope that in some small way that I can impact a persons life positively.
One of the main problems I belive that we suffer from here though is this- For years I have been listening to ppl calling wilmot Perkins and they give their ideas and solutions and so forth but our greatest downfall is that we are all talk and no action.
How did we get here. They day we got independance. take a look at our constitution, to me it remains highly evident and the only conclusion that I can come to is that our forefathers who brought us into independance didn’t give a flying f**k about the common man. And that common man has been trodden upon, lied to, mislead, tricked, stolen from and killed since day one of independance.
Solution- Call me a jesus freak or bible thumper if you want, If God is not in the picture we dont stand a chance. Dont speak to me about JA being a christian country, there is a big difference between christianity and religiosity. Think and check. You can have all the church you want but if it dead you wont find God there. The problem with Jamaica is that we are a God concious society, not a God fearing one.
Sincerly Yours
RedP
Hey Drivah, Nobody wants to leave INVESTMENT CLUBS 1 !!
danews said
I live in Jamaica.. and it it OK..
it is not as bad as the news make it out to be
it is not as good as the tourist ads make it out to be
everyday people go to work and go about their business, without feeling anyway.
the experience in the ghetto may be different, of which I cannot truly speak… but some say it is peaceful unless the warring sides are at it over some foolishness.
Regular persons here get killed more than most places, but is not to the effect that it curtails movement.
people are still up and about till all hours of the night.. and a lot of communities have their different dances ( hot mondays, uptown Mondays, early Tuesdays, passa passa Wednesday, bembe Thursday, dutty Fridaze etc)
I have friends who live in small islands and they lament how the place empty and boring as night falls.. there is like ghost town after dark and they have little crime, while Jamaica is lively
I also cannot bother with the anti-immigrant feel of living abroad – U.S. Canada.. and knowing that no matter how much money you have, you will never be seen as one of them.
Mercury Vapor said
Guys, stop posting on this page. Please post your comments on the new page:
http://invest4life.wordpress.com/investment-clubs-2/
Kevin has put this page (Investment Clubs 1) in the archives section.
Razor said
RedP 1438
Getting wealthy and then staying wealthy is much about a state of mind. One common theme among club investors is to cite bad things that happened with other investments, frequently Bear Stearns and Enron. Getting wealthy is about avoiding those situations not drawing solace from the fact that even if I make a mistake, others also made them in regulated entities. Investment as is most of life is training your brain to frame things appropriately and then make the right decisions.
Look at your reasoning with regards to the crime situation in JA. It is to tell us about everywhere bad that you can come up with and then we are supposed to feel that there are places which may be worse than JA, so then JA is made to seem OK. It is not. I for one have chosen not live like animals. Only animals in the jungle are supposed to be concerned constantly about predators coming to kill you for what you have. The threat is constant and living in JA it becomes part of your fiber, security is at the top of your list of concerns constantly. Eventually the behavior becomes second nature like the deer that knows the lion may be lying in wait at the watering hole.
Why should we care if other countries may be worse, JA plenty bad enough. The problems and it causes are many but have you thought about some of the ways we can contribute to it. When we move our income offshore to tax free havens, what about the laborers that work for us? Do they get to have the same setup? So they slave for what we can afford to pay them. Then we deduct their PAYE and the other statutory taxes which goes to fix the roads and pay for security etc but the big man pays nothing because he has an offshore trust in a tax haven. And we ask that this man must continue to slave and feel like we are all together in this struggle to build a nation?
Do you see that unless this changes the problems will never end? In the US the Red Republican States are all in the poorest rural states. The poorest people vote for the party of the rich. Why? One reason, In America even the poorest guy feels that he has a shot to be rich too and that though it may not be the result in every case by and large everyone has a fair shot and people are treated equally. This is the general perception, not fully correct but sometimes perception is everything. There is no general feeling of us against them. JA problems have their roots even in places we do not think to look. The problems are complex but attitude changes are an important place to begin.
Patricia said
DW r u Dallas or Fort Worth??
Patricia said
Hey DW and Merc V, Austin is my second home
and luvin it!!!…working on moving there permanently 
DW said
Mercury V:
Whoa you are in Texas like myself, should have noticed the “Texas drawl”in your writing style…lol..I am holding it down in North TX…
waiting in the wings said
i like the conversations. I think that st kitts and nevis is a beautiful place i know someone who is a minister down there and he is quite charming and says that the place is small but he has a good quality of life. An interesting thing (litmus) is that i was watching the travel channel on the worlds best beaches and there was no mention of jamaica. I usually take my que and try and visit the more exclusive places but bwoy mi still a wait on my monies so mi may have to cut back.
I can go on and on about the crime in jamaica truth is, it is by and large confined to the ghetto not garrisons alone although everybody think poor is garrison now. It is perpretrated by youths under 25 years old. You are called elder if you are over thirty. The number of guns available is staggering it is as common an weed and guiness. A major port is located in the mother of all garrison. The government constantly berates the police since the introductions of “jamaicans for justice” and have done nothing to curb crime. The sheer enormity of it i think they are yet to grasp. although crime is growing the number of security firms grows as well so they think they are safe. The leaders are/were arrogant, teif, damn lie and most of all unpatriotic.
The young men think that begging is a job. Everybody including school kids are porn stars, the xxrated channels are unblocked in the ghettos because is teifing cable and you cant block it. The population is 90% uneducated. Guess whose government they grew up under. (whew had to put that out there)
Leaving Babylon said
Thanks for the input guys. I have checked out Panama & Chile – both excellent options.
Tito – have not yet visited Turks & Caicos, but would like to. Do you have quality broadband internet or is it touch and go (weather influenced) satellite reception?
Tito said
Live in Turks and Caicos like I do, Currency US Dollar, tax free, and no crime.
Kevin said
To All:
This page will be going down for approx 5 to 10 minutes for maintenance. Sorry for the inconvenience.
Driva
Mercury Vapor said
Re: Post 1437
Well RedP, I currently live in the United States, Texas to be exact, and I would say that my quality of life has increased alot. While living in Kingston I was always fearful because of the crime. When night come down, most people including myself are at home and only come out if it’s absolutely necessary. You don’t go on the roads at night in Kingston unless you really really have to! Many people become prisoners in their own homes!
The constant threat of murder is always present in that city, so I really did not like living there. I like where I am now, but of course I miss home and my family. No wait, I should say I miss the good things about home, the good things about Jamaica. You mentioned some bad things about the United States, well there are many bad things about living here…like yes racist people, school shootings, drugs, etc. But there are more positive things to living here as well. I’ve only visited Canada once…stayed in a town close to Toronto…and I loved it. My experience in Canada was very positive. The place is beautiful, the people are nice, so overall a really good place to live in I think. Of course everywhere has it’s problems, no where is perfect. But overall, living in the U.S. or Canada is a step-up from living in Jamaica. The huge crime rate in Jamaica and high murder rate makes it too dangerous and stressful to live in this small island.
RedP said
Leaving Babylon 1440
Panama. 1st world service and tech, english spoken most places, rocking economy, whole heap of investment coming in due to canal expansion, very very low crime rate, reasonably priced real estate, can get citizenship quickly if willing to invest in country (business,r/estate etc), lots of foreignors there, reletavely cheap cost of living, beautiful countryside, no dictatorship or army, hop skip and jump from miami, but most of all FANTASTIC FISHING!!!
Hope this helps,
RedP
DW said
leaving babylon:
I would Live in CHILE,great country, developed, crime rate 1%,socialist style government. I visit once every year, my lady is CHILEAN,the only thing is the lanuage barrier Spanish was never my best subject in school, however, I am learning slowly but surely…LB… you may have to invest in Rossetta Stone Spanish editon…lol
RedP said
FYI In Canada those who practice the hindu sikh religion BY LAW are allowed to carry their ceremonial daggers to school.
I have never seen a country anywhere else that cow tows to every flipping special interest group in town
RedP
Roli said
RedP, For a little county like Jamaica crime rate too high. Too much blood spilling. Too much.
Leaving Babylon said
OK – Hello everyone and happy returns to Stressed Now Blessed. I had been checking to see how things were turning out while weeding through all of Jay’s post. He never would respond to me anyway.
On this discussion of countries, I have a question. Since I’m leaving Babylon, where would you pick if you were in my shoes? I have Swiss heritage, but only speak English and a family with young children. I enjoy being around people from all sorts of cultures so I’m more concerned about people that may have a problem with me than the other way around. I can work anywhere so I simply need sound communications infrastructure. Any thoughts or warnings? Anyone spent any time on either St. Kitts or Nevis?
Leaving Babylon said
Greetings bredren – My last two post haven’t gone through, one from last night and one from this morning. TESTING TESTING 1 2 3
Leaving Babylon said
PEI – 10k per week on Compass card loads, which has paused since end of last month.
Stressed Now Blessed – Where you been mahn? I’ve been checking to see how your doing through all of Jay’s post.
RedP, MV, DW, CP, Oniel – If you could live anywhere, where would you go? I’m working on leaving Babylon, but have a wife and children to consider. Fortunately I can do all of my work remotely so I really just need solid communications infrastructure. Thanks.
RedP said
Good Morning Guys
Re posts 1427, 1431, 1433
Guys, I know that life down here aint pretty but take a look at the world around you. You want to go back to africa and live with tyrants like mugabe? Check out sudan with sharia law and female circumcision? How bout hug up chavez in argentina? tek a trip to myanmar and watch the military govt let their people die of starvation while barring world charities access.
Hey, go to canada where dem lock you up if you discipline your child or beat a thief weh bruk yuh house when your home,you dont even feel safe from teens on the subway because of the absolutely ridiculous young offenders act where a teen can murder you, get no more than three years and remain anonymous.
Or maybe mosy on down to new york state where if police stop yuh and yuh black dem guns drawn but if yuh white they’re holstered.
Maybe you could go live in columbia or guyana where you have a damned good chance of getting kidnapped and murdered.
Actually Israel is nice if you can stand the hezbullah shelling and constant terrorist threat.
Take a trip down to johannesburg and tell me how you like it there.
Perhaps maybe you’d like Iran, you think jamaica is homophobic??!! Actually, muslim religion nuh so bad if yuh dont want yuh wife to have any rights.
Move to europe where theres a hell of a lot more racial tension what with the massive influx of refugees.
Gaza strip dont look too bad this time of year.
London nuh bad if yuh dont mind gettin yuh head kicked in by a skinhead, or shot by a yardie.
So far is only states yuh ever hear bout yuh send yuh pickney to school or university and they get shot by some mad whiteboy with a grudge and a gun and a swastika tatoo.
Folks the whole world aint pretty, I know what JA is like and I know what a clock a strike outta road, I dont live in a bubble, but this is the land of my birth and the land that I love.
I will continue to pray for this country and its leadership that things may change for the better.
Guys, one has to remain positive and have faith, trust God and live, or choose to live in despair and go mad.
Much Love
RedP
DW said
Mercury V, I agree with you,but on the other hand we all cant run from yard and live abroad.I migrated in the ninties for greener pastures saw an oppty and made best of it,like you my Mother still lives in JA and although I visit every other month I still get a nerveous feeling whenever I see an 876 code shown on my phone.I was in kingston last weekend and there is this tension and fear that abounds.A large part of the problem I feel stems from CORUPT POLITICIANS GANGS AND THUGS,the people at the top has allowed this diease to fester and now has caused our JAMAICA LAND WE LOVE to die a slow and painful death,However I still believe in the GOLD BLACK and GREEN,will trade it for none other.The approach I feel that has to be taken by JAMAICANS, both yard and abroad, should be viewing the corupt politicians, Gangs, and the thugs as enemies,and we will take the fight to then, with minds made up, that many more will have to suffer and more will die but they cant KILL an entire NATION..
“NUH WEH NUH BETTA DAN YARD”
Oneil said
re 1430 DW
Jay has been moving from site to site spreading speculation of all clubs, in which he has no money and nothing to lose, calling every club a ponzi, when he has not seen their financial statements.
People like Jay are one of those people who gets pleasure from the misfortunes of other people, what is even worse is that their are clubs who listen to his negativety, without any facts at hand.
Oneil said
re 1431 MERCURY VAPOUR,
U seem to live in the same jamaica i live in, tell that to REDP , he still thinks its the best country in the world to live in.
CP said
@Mecury Vapour..
Still in Jamaica and I have to concur with you. It is really getting crazy out here… The Drug money has dried up, the corruption money has dried up and extortion money seems to be tight. Sadly business persons big and small have been the target, but brothers and sisters, especially in the inner-city continued to be slaughtered.
Innocent persons in Jamaica are at the mercy of the criminals, and as you said they have become more heartless. The new wave is to behead people. The crime is in every parish as the criminals and the guns have migrated from Kingston & St. Andrew. St. James, Westmoreland, Clarendon are new hotspots.
It is really really sad.
Mercury Vapor said
Re: Post 1419
If you have the opportunity to leave Jamaica and live in the U.S., Canada or the U.K. then go! Crime is rampant across the island, especially murders! With such a high murder rate Jamaica has literally become a war zone. Most of the killings are being done by gunmen loyal to gangs fighting to control territory. But many innocent people are getting killed because of these gang wars…and the amount of people dying is absolutely crazy!
Not even in places like Iraq and Afghanistan are people dying in the numbers Jamaicans are! If you were a U.S. soldier right now in Iraq, you would be safer than the average Jamaican citizen in this small island. Also, as a soldier…whenever you leave your heavily guarded military base…most likely in the so called “Green Zone”…you’re always armed. You’ll have on your body armor and you’ll have your M-16 rifle, and maybe a few grenades.
In Jamaica, what do you have? Some people have handguns, but not nearly enough people…and if you’re attacked by several gumnen who are all armed…you may be able to take some of them “down” but you will still probably die. Some gunmen are also armed with “high-powered” weapons like submachine guns (eg. TEC-9) or rifles (eg. M-16). Now if you have a handgun and they have these weapons, who do you think is gonna walk away alive from a fire fight?
The crime in Jamaica is far far too high! Every month there is a whole heap of murders…and even more robberies, assaults, burglaries and rapes! Shootings, stabbings, beatings…Jamaica has become and extremely dangerous place to live in. If you live in Jamaica…with the way things are going…it’s just a matter of time till you encounter crime. I hope for you guys, my blog family, that they don’t kill you. Maybe you’ll be lucky and they will just rob you. My mom still lives in Jamaica, and she had her Honda Civic motorcar stolen a few years ago. Gunmen came up to her just as she was getting out and demanded her car keys. Another time a gunman held her up (at gun point) and stole her handbag. Luckily they didn’t shoot and kill her.
To think, it would have only taken one…just one…single bullet to kill her. These days the gunmen are becoming more and more heartless. They have no problem ending someone’s life, whether it’s a man, a woman or a child. Ending other people’s lives is their occupation it seems. Have you guys not been watching the news? Have you guys not been reading the newpapers? Jamaica is awash in blood and violence! So many people have died this year, it’s crazy! And many more will continue to die! So, therefore, I say this…if you live in Jamaica you’re living on borrowed time. Because one day your number will come up…and some “bad man” who will most likely be poor, black, uneducated, and high on weed or crack will kill you! You’ll be shot or stabbed, and what little you have will be taken.
Now, at that point…your home, your car, your family, your investments, your plans, your hopes, your dreams, your fears, your regrets…won’t mean anything. They will have all passed away with your life. I just hope someone who knows you will come onto this blog and tell us that you’ve died…so we’ll know that *** was cut down…and we all can mourn the loss of another friend.
Leaving Babylon said
PEI – Max. on Compass card is 10k per week, but “card loads” quite being delivered at the end of last month.
Stressed Now Blessed – Where you been mahn? I’ve been looking for you and wondering how things were going, but every time I’d pull up the blog I would just see yet another post from Jay.
RedP & Oneil – Do you guys have any thoughts on where you would raise a family if you could move anywhere? My heritage is Swiss (so obviously I’m very fair skinned – but mi no baldy caut up in di system!), and as you can tell by my name – I want out of Babylon. I agree with the UK issue – way too much surveillance for comfort. They even are amassing a huge DNA database now with their ongoing brave new world experiment. I’m looking at St. Kitts & Nevis for starters. My kids and family love the ocean, but we all fry in the sun and have to be careful. I need to find a place that has great communications infrastructure since I do all of my business remotely. I’ve never had any problem working with different nationalities or religions, but clearly it would be a good idea to avoid areas that would have a hard time working with me (a Christian white dude). Any thoughts or warnings? Thanks.
DW said
How SICK and OBSESSED can one be, moving from blog to blog with “naysaying”….wi finish im off…May he she or it never return on invest4life.Lets keep the POSITIVE vibes flowing.
CP said
@ PEI “how we will know that the money requested is more than the 25%. will members be getting statements that show how much funds under management or we just have to take there word.”
1. If there is some form of statement of the clubs position, it would be good as that would help to know the real situation. It would be a confidence builder and reduce speculation.
2. I hear you but why different periods? I think members should gently push for standardize time. 30-45 days should be standard across all accounts even if given the current situation holds until September, 2008, but after that I think the period should be standardized.
Reading back there is something someone said. Longer encashments periods equals more speculation and uncertainty equals more critics. Shorter encashments will remove both, speculation and uncertainty.
@RedP
Your sources seem to have gotten wrong, there were no crowds at Olint offices and my sources said the same. Almost sure if there was, the press would have been there.
PEI said
Stress now bless look like driva dont need to do anything cause me find out where teacher gone now him and johnd have a new place. them all copy the name from driva them people obsessed have mercy. how me know? is true me walk bout
who want him can find him here
http://investforlife.wordpress.com/
Oneil said
re REDP 1421, 1422, 1423
Each and every man to his own experience, i am much younger, but i think jamaica sucks because:
1)every corner u turn somebody want stab or shoot u for something ur life worth more than.
2)every corner u drive a bus man or taxi man want to bad drive and kill u off
3)every time i walk a road wid me family, mi hafi a walk and mek full 360 vision fi protect the ones i love and myself
4)cant stop a stoplight without being harrasses like me a tourist, me own nuh bank either.
5)every store mi go or person mi do business wid, dem dont know anything bout customer service.
6)when u poor people dont notice you, but when u rich, dem a first fi badmind u, or kill yuh for u tings
7)so many highly educated people cant find jobs, or in a job they want to leave, but cant find a good job.
8)to find an average house in a decent area is only a privilege for the rich
9)everybody want to sell inferior goods for high prices
10)nobody cares when yuh making 5% on your money per year, the minute u start mek 5% a month,everybody takes note, govt for ur taxes, fsc for formalities and the banks for competion, Jay for the pleasure of seeing u lose ur money. lol
Stress now Blessed said
Jacan, I am anxiously awaiting the opportunity to get back on the bus….but mi caant risk it. if that is the last job I die of hunger, I don’t want dat patient no time at all.
Patricia I know you can take care of yourself but still be CAREFUL as you move around the bus!
DR– You’ve shown that you are human and when dem squeeze you up like that you bawl out.
Leaving Babylon… even you getting battered when di bus take a corner.
Did I hear someone say they will FINISH the job with NO possibility of a return?
What happen to the meeting that should have been held at the Mona Damm, did it not take place, water level too low or was it the absence of same?
DRIVAH… DO SOMETHING QUICK and save the passengers who are actually going somewhere and not just taking a FREE ride UP and DOWN and UP and Down and UP and Down…
Be Blessed!
Vela Invest said
Any help with post #24 on FX Traders
PEI said
RedP my pardna is true ting dat watch na dem triniman prejudice fi true, so all yuh all tink when yuh is jumpin’ an’ wavin’ yuh flag dat we is one dah ent so!.oh lawks ah could eat a bus up shut now!
RedP said
The first time in my life that I ever encountered colour prejudice was Trinidad, Barbados was rather worse, experienced it in Toronto but its not blatant there, got a touch of it in Alabama.
Just for your FYI.
RedP said
P.s. London Eng. sucks too, whole heap a camera a spy pon yuh, ppl dem ugly like duppy, only good ting is the pubs.
RedP
RedP said
Waiting in the wings 1419
9 years in Canada, great country, cold nuh bitch, wuk like dawg, stigmatised as Jamaican no matter high colour. 2 years in Trinidad, great pan music, very cliquish, too prejudice, kidnapping. Been to Barbados, even more cliquish and prejudice. Antigua and grenada, and St Lucia nuh bad but well small. cant stand the US, too boasty and braggish everything so big and far.
So trust me, given all JA’s problems tek it from me, no weh no bettah then dis beautiful blessed country.
RedP
Walkerswood said
Anyone here anything about Prosporex, they are based in J.A. and have an office in Canada.
I Know a few people that have invested with them, they all say it’s good, should I take the invite or should I forget about it?
waiting in the wings said
dont watch the spellin is tipo
waiting in the wings said
Thanks or the info on keen exchange mi a go ole on to my money.
I am also expecting good news at the end of this month so we will see. I continue to pray and hope for the best cause it really no pretty out deh. Everywhere i go people begging me jobs who are very qualified unfortunately in a stifling economy such as ours i encourage them to go a farin. i also have that as an option jus in case mi haffi go look a work to pay back the loan from JN.
I think everyone is aware that the ja economy is shot but we still hold on to nowey nuh betta than yaad mentality as i get older it gets worn so i may have to seek greener pastrures. Any thoughts?
K said
those are the folks that DS is trying to get rid of
RedP said
hear that there’s a bunch of people down at Olint today, dont know why though. Maybe everybody is rushing in their new encashment policy before deadline or maybe they dont like policy and want funds. Who knows. Anybody in the know?
RedP
Oneil said
1406 & 1407 Jay
I did not invest in CP , and further more if there are people in here who are club members, who get their information from external sources such as this blog and speculators like Jay, and not internal, then if you are that out of touch with ur money, then u deserve to lose it, “a fool and his money will part”.
If u are a club member and need a blog to get ur info, only god can help you.
RedP said
Repost
Hey Merc. 1414, Jay and those like him remind me of these ppl who call the radio shows, its the same ppl everyday talking the same thing everyday, first they call Ronnie on power, then Emily on nationwide, then Betty on nationwide, then mutty on power, then Raggashanti, then dervan on power, then drive time live, then cliff on nationwide, EVERYDAY TALKING THE SAME THING!! ON EVERY PROGRAM!! SAME PPL!! SHEESH!! Dont ppl like these have a life to get on with??
I wonder how much it pays to post and call radio show!!:) LOL
RedP
Mercury Vapor said
Re: Post 1413
Bless, at Post 1345 Pete said: Jay is no teacher he is a consultant paid monthly to post and gather feedback. I notice you stayed far from my post(1281) because you know that I know. Jay Jamaica is a very very small place.”
Hmmmm…that sounds reasonable to me. What do you think Bless?
Bless said
Boss Jay yu post on every blog
http://jamaicainvestmentwatch.com/?p=107#comment-535
Boss yu have time on yu hand, a see yu a big up yu family deh
DR said
AS far as I am concerned tax payers money is being wasted on the C+ matter…
1) It is either that CH has money off-shore and is willing to pay back the lenders OR
2) CH does NOT have any money so he has to go to prison. FULLSTOP.
Prison unfortunately won’t FRighten him, Don’t you agree Jay?
He is used to it. Been there Done that, he would say.
Yes, I know the intellectuals on this blog will say, the Law needs to take its course….but “HELLO”, can’t we all see what is happening… It is a cat and mouse game.
PEI said
Any body know if there is a max you can request on the Card if there is limit what is it please
PEI said
CP i had asked questions about that too and I think Miss P said something as well. Thats why I asked how we will know that the money requested is more than the 25%. will members be getting statements that show how much funds under mangement or we just have to take there word. I feel limiting the requests is good so people dont use the club like bank it not set up for that but same time I feel we need some more info. I think it is ok that they have different time to get money based on the amount you request dont have a problem there you will just have to arrange your things that way. Question i have though is like me request a standard I have to wait 30 -45 days then say I get a draft and lodge it then the #$#$&^&%& bank them going to hold it for what 10 20 30 working days thats where it will be hard for people cause you loosing money big time that way.
CP said
I asked a few questions on Sunday and I was hoping for some feedback and thoughts, Jay excluded.
1. This 25% in point # (iv) of the new policy. Personally I am not liking It.
Is this a loophole for more delays given the current unstable atmosphere?
2. Why do we need these encashment categories? Already all requests have to be made between the 1st and the 15th of the month for payment the earliest the 15th of the next month.
3. Why is the redemption period not fixed?
Whether or not it is USD $50,000 or USD$1,000,000, should 30-45 days not be enough time?
BTW. Great information on investing in stocks and mutual funds. Enjoyed the positive discussions between CS, Mecury Vapour and alas, Jay!
Leaving Babylon said
Big Up RedP
Jay post, post, post wheeee!!!! Golly-gee wilikers Jay, without your prolific research we’d all be lost.
FYI: I can help investors with a net worth in excess of $10MM and a minimum investment of $1MM. Physical segregation of funds in an AAA rated bank using a line of credit to a top rated broker in London – perfect set-up for other financial institutions and banks. If you live outside Babylon we can talk. My trader uses only 3% of total invested with net to client returns similar to O. Total control over funds, quarterly audits, year end report, everything anybody but Jay would want.
The 50k minimum fund should be open by August. Sorry bredren the next phase with the low minimums is just going to take longer. You wouldn’t believe how complicated this nonsense is and why Dave went the route he did. Unless I become another “club” it’s just going to require more time and there’s no way I’m going to invite that kind of torment on myself.
Jay said
BTW Oniel,
Is is it true that you cashed out and right now is just “waiting in the wings” to see what happens next.
You lucky guy, as usual you are ahead of the pack.
Jay said
Oniel, On Wed May 28, 2008, I Will post the +ve news of people getting paid so stay tuned.
Oneil said
re 1415 Jay
BNS has increased its non-performing loans, what is the relevance of ur post, u didnt borrow money to put in any of these schemes, not ur problem, move along or tek yeh urself.
There may be a default in loans because of cash plus, however BNS made alot of money via margins on the interest and charges they have earned off deposits from these schemes over the years. You failed to mention that Jay, tek yeh u self if u dont have anything positive to post.
BNS could give back cash plus their interest and overdraft charges it earned off cp accounts and customer accounts, since dem say its dirty money. lol
PEI said
FX traders free seminar in June in New Kingston
info here
http://proacttraders.com/seminar/
Overchill said
Jay: attempt to cause panic and confusion so no one can get a clear picture. Confused customers call MD and other club customer service with abuse, wanting to know whats happening,causing MD to get fed up and close. They will win when they have managed to close all of the clubs. It looks like they are using many different techniques. Beware…
RedP said
Lotto is now at 22mil. One ticket costs $30. Now thats one heck of a return. Must be ponzi!:)
OneJam said
Hello folks long time. still around, working on my FX trading. Jay has been busy i c, but i like when he posts facts lets leave the speculations for the FX trading market.
Would like to talk to Leaving Bab about the planned fund, have a similar plan myself for South America and putting the technology and legal stuff in place. Drop me a email with contact info, mine is onejamlove@hotmail.com.
RedP said
Just read the new encashment policy, bumbaat I wish I had the kinda wherewithal to request a “GRAND REQUEST” withdrawal!!:) I goin’ haffi lef dat to Leave Bab, Pat, Merc Vape and Vhappy!!LOL:)
More Time
RedP
Oneil said
Me tired of all these speculators who have nothing to lose, u see how much people lose dem money in cp after all this speculation.
Oneil said
re 1408 Jay
What is the point of you posting all this info which people already are aware of.
U dont have any money in any of these clubs, move on, find something else to post, ur posts are pointless.
None of these clubs members need ur concern or interest in their clubs.
U HAVE NOTHING TO LOSE, SO MIGHT AS WELL U FIND SOMETHING MORE CONSTRUCTIVE TO POST
Paige said
Jay
A wha do yuh???????
jay said
IMPORTANT DAYS FOR MAY.
May 26 – Olint – Check pick-up dates to be available – Changed to May 28.
May 28 – World Wise – Injunction against RBTT ends, back to court.
May 31 – May Daisy – To Close Jamaican Accounts.
May 31 – Olint – Customers to submit sign new encashment forms or Accounts will be closed.
DAYS TO WATCH IN JUNE .
June
June 1 – Olint – New payment policy comes in to effect.
June 5 – Olint – “en-cashments” should begin.
June 12 – Cash Plus – Back in court, lawyers to present reasons for objections to receiver.
June 13 – May Daisy – Payments to persons in Cycle A should be complete.
June 19 – Cash Plus – Carlos Hill should declare assets in compliance of Court Order.
Need to get back to class, lunch is over.
See you guys later !!
RedP said
Merc Vape 1403
Ive been v/busy cuz I moved couple weeks ago and you know how that goes trying to sort out evrything and house dont fully finished yet also internet not connect yet.
Also busy meeting with lawyers and negotiating with NROCC as NROCC going to adversly affect my business with planned toll road to north coast so am busy working out/costing phased busines and building restructuring to accommodate the highway and hoping to reach an equitable settlement with them.
Requires a lot of measuring, tabulating construction costs, trying to foreplan/foresee the best way to rework everything to acheive maximum productivity/storage etc. Whole heap a sup’m fi do.
As to investing I would like to acheiv 40% Forex, 30% real estate, 30% of whatever Pat, Leave Bab, Jay, YardMan, Futures, FXtrader Reccommend!!:) Interested in Leave Babs set up but nuh ready yet. Also, check Panama-Real Estate, check columbia and brazil, things are happening but I have too much commitments right now to do much. If I hear or learn more I’ll let you guys know.
PEACE AND lOVE,
RedP
jay said
Cash Plus Investors to meet ?
Reports are surfacing that Cash Plus investors are scheduled to meet at JACISERA PARK off Molynes Road today at 4:30 p.m. Seemingly frustrated by the the failure of Cash Plus to pay, investors are to meet to possibly discuss active way forward.
What they are to discuss is not clear, as the fact that Cash Plus is in receivership leaves investors with not much choice but to now sit and wait.
RedP said
Vhappy 1369
I really hope mi get free up cuz me move in but mi nuh done tile and pretty up yet and I want mi wife to have di best cuz she really desreve it!!
RedP
Mercury Vapor said
Yow RedP!
Mi glad fi si mi fren come back pon di blog! Is where yu did gone bwoy?
RedP, at my post @ 1396 I was telling CS that he should diversify his investments…not put all his money into forex trading clubs…and I gave this example:
30% – High risk/high return investments (eg. Olint)
50% – Moderate risk/moderate return investments (eg. DB&G Equity Fund)
20% – Low risk/low return investments (eg. GOJ Bonds)
RedP, what do you think? How much money do you think we should be putting into these forex clubs vs other investments like stocks and bonds?
Oneil, Danews and anyone else with any advice please share! I want to know what everyone thinks!
RedP said
Wow you guys were busy over the w/e. Some ppl all gettin steamy under the collar. You guys shoulda done like me, kick back, drink some rum, play some domino and poker with the fam, fagget bout Jay for a while!! It was very relaxing!!:)
BTW Jay post 1208 was really cool, for a Prime Minister you have a great sense of humour!!LOL
More Time
RedP
Oneil said
most people were suspicious, but CH the big sales man/ con convinced them that his company was really earning enough cashflow to pay this 10%. Outcome- not so
Oneil said
re 1399 Danews,
CH actions are fraudulent, its one thing to take peoples money and buy real estate, but it’s another thing to use their money to pay interest to others via ponzi scheme.
CH met personally with a number of large investors, with whom he gave the impression that their money was invested, not used to run a ponzi, there a big difference.
Most people i know who were in cash plus did so because they felt this man was buying property with their money, making investments, only to find out he was running a ponzi.
danews said
Why are people suing cash plus ?
it is high risk, people knew they could lose their money.
the attitude people have with these schemes is that it must work and they must get their 10 %.
in investing, one should know that they can win and ALSO LOSE
Make it rain said
People the best thing you can do now is if you are already in Olint just ride it out. If you are not in then wait until the dust settle. Things will never be the same again , if you miss the boat you miss boat. Move On ! Peace out.
CS said
Mercury Vapor, i think i might consider your idea
However, since i am about to change my car (It is nearly 10 years old), i will try the another Moderate risk/moderate return investments (eg. DB&G Equity Fund) are the purchase. As much as i swore i would not go back into Moderate risk/moderate return investments (eg. DB&G Equity Fund), i will do some research and give it another shot.
Thanks for your thoughts
Investment Man said
Hi CS,
I read your post earlier about Keen Exchange having problems…how long have u been with them, ur sayin u havnt received any funds from them 3 months now?…I invest with them recently but not yet 30 days….I plan to withdraw every month tho….what kind of problem do u think they are having ???
Mercury Vapor said
Re: 1394
Ok, I get what you’re saying now CS. You have experience and knowledge about stocks, bonds and mutual funds. However, you mentioned that you had withdrawn ALL your money from your stocks and mutual funds and put them into forex trading clubs “O” and WW and also C+.
Now I know you want to make a lot of money, we all want to make a lot of money…I know you want really high returns on your investments…hey, we all do! That’s why we all come to this blog, right? So we can learn more about these investment clubs. However, cashing in all your stocks and mutual funds and putting all of that money into forex trading clubs is financially reckless. You can’t be reckless with your money CS! That is far too risky, you’re putting your entire principal at risk!
Look at C+ for example, that turned out to be a ponzi scheme and it crashed. What if you hadn’t taken out all your money in November? You would have made a loss, right? Your money in WW and “O” are also not safe! These are high-risk high-return investments. What if they both crashed shortly after you invested money with them? You would be facing financial ruin! You said that you regularly take out withdrawals an put them into your bank accounts earning 2% to 14% a year. That’s very good…always diversify your investments.
What do you think about this idea CS?
30% – High risk/high return investments (eg. Olint)
50% – Moderate risk/moderate return investments (eg. DB&G Equity Fund)
20% – Low risk/low return investments (eg. GOJ Bonds)
InDeRiver said
http://caribbeanfever.com/forum/index.php?topic=513.msg1568#msg1568
check out the videos
CS said
Listen all, you have misunderstood my statement. First off, i was in mutual funds for over 5 years. I had stocks for close to 10 years. My point is, when i sold both the mutual fund and all my stocks and put the money at C-Plus, “O” and “WW”, what i have made in the past 2 years far exceed what i made in the 15 years with the mutual funds and stocks combine. I regular take off “O” and “WW” plus i got 90% of my money pack from C-Plus (I withdrew the 16th of november, C-Plus crashed the 19th of november), so i have funds in the multiple bank accounts earning 2-14% per year. Plus i have my house and car. So i am ok. The point is as long as their is forex, i aint going the stock or mutual funds route again. It is just a faster way to make money. All you need to do is make sure you make regular withdrawal and don’t keep all your eggs in one basket.
I am by no means discouraging anyone from buying stocks, buying unit trusts or invest in mutual funds. To each is own. Forex works for me, it might not work for you.
Futures_trader said
If you are an investor and want to buy stocks in a down market, just buy stocks with strong fundamentals and financials going forward and dont be scared to buy when there is blood in the streets because they sometimes throw out the baby with the bath water.
carleena said
the meltdown of cash plus cause a run on olint careif and WW. in which both cannot pay their members principal and interest.is this true,sunday herald. it seems so. over one month now i closed my WW account and still cant get my money..
Jay said
Mercury @ 1388 you are right on the money.
Jahbilly I was not speaking about “catching a falling dagger” here.
Post # 1388 explains it very well.
BTW,
Did you guys here obtain your copy the Olint Vs FSC judgement 2007.
For those persons considering investing in the O get your copy here.
Type in your browsers cashplusinvestment dotcom /OlintJudgement dot pdf
Download and save, makes for good
reading.
Now please replace the “dot” with the actual .
I have tried posting the actual link in its real format at least 3 times and it does not show up since last night.
jahbilly said
Mercury/DH
Don’t be suckered by the “deadcat bounce”, I don’t think you understand what I was saying. Do you use a trailing stop when you buy stocks?
DH said
@Post 1387, A lot of people trade forex that way too and made money in the short term but will eventually losses it all when market turns.
Mercury Vapor said
Re: Post 1387
Hi Jahbilly, I wasn’t really taking about averaging down. What I meant was this…lets say you do some research on a company, lets take Toyota for example. You look at the fundamentals of the company from the yearly financial report. Now the stock market…overall has been declining…and many stocks have fallen. However, when you look at Toyota, they aren’t doing too bad…not terrible but not great…just okay. Their stock has fallen alot…this may not be because of Toyota but because of the stock market on a whole. Remember that one of the factors in the price of a stock is demand and supply. If a lot of people demand a stock it will push the price up, and if a lot of people want to sell a stock it will push the price down.
So it may be very profitable to buy Toyota stock because it will eventually start to move back up and will go higher and higher. This is however a long-term investment i.e. 5 or 10 years or longer. Now to find good stocks in a bear market is difficult. But if you educate yourself and take the time to do research you can find good stocks. Many people do, and so can you! It just takes time, knowledge and well…experience…but you have to start somewhere…right?
jahbilly said
Good morning. I see examples of folks buying stocks at falling prices, ie averaging down. I think this is not safe because you have no idea when or if the stock will go back up. Example, Bear Stearns. You buy at 105, it falls to 80, you buy more. It falls to mid 30’s you buy more, then you wake up Monday morning and its at 2. Is it ever going back up? Same for Enron, Worldcom, Intel, Microsoft.
Buy stocks when they are going up. If you buy at 20 buy more at 21, not 16.
Personally, for long term I buy dividend paying stocks and mutual funds. They perform 10 times better than those which do not pay a dividend.
Peace.
Mercury Vapor said
Re: Post 1382
Sorry, my post is in regards to Post 1380 by CS. It seems that Kevin deleted some posts last night.
Re: Post 1383
Thanks Jay! We need to all “chip in” and give CS some good advice today!
DR said
Jay, Your marketing strategy has worked, you changed your name from FR and now you are the most popular person on this blog: not only are you posting alot but you have alot of persons talking about you…wow …The Driva should move you up to First Class.
************************************************************
Someone said earlier that I have been acting a little strange on this bus, oh yes, I agree. Too much NEGATIVE has been happening to far too many clubs….some of the things I have heard, I have not mentioned on this blog. If I did, you would ALL take out unno money once and for all…..Think & Check
Yes, I use to defend the clubs, even argue with the big boys, as I am a social butterfly…..but I know have to agree with the regulators….that we should all stay away from clubs….
I really hope that I can get out in the first cycle…. come next week…. customer Service for most clubs SUCKS! (excuse my language)….not to mention the number of principals who are migrating….check this out for yourselves…..
When they leave, they leave with your money…you have no access, they refuse to answer telephones….:
They use to give you 15% – 25%, but all of a sudden we are getting 5%, and in some cases; NOTHING!
Why spend so much money on legal fees, beauty contest, JAzz festivals and African Charities but refuse to employ a Solid Customer Service Team? Can somebody tell me.
I have no choice but to act strange on the bus.
Jay said
More CashPlus woes.
Can you beleive that CashPlus even made its mark on WALLSTREET, yes sir. Read it in the link below.
“One woman, who said she was a Wall Street entrepreneur, related that she invested J$40 million in Cash Plus and lost everything”
http://www.jamaica-gleaner.com/gleaner/20080525/lead/lead7.html
CH did not build a bigger and brighter future for Jamaicans, he instead destroyed Jamaicans future, both here and aboard.
I do hope he is assets are tracked, seized and used to pay off these folks.
Its really heart wrenching to hear the stories of shattered lives by this ‘crook”. His name should really be Crook Hill.
Jay said
Mercury Vapour @ 1382 – GREAT POST!!
The problem is folks see falling prices as a means of existing the market which can really be the exact opposite of what you should be doing.
So we buy stocks when its going up and sell it when its going down.
Some will buy a stock at the $20 you used above, and the stock moves to say $25, which is a 25% appreciation.
Nothing about the company changed, ie the fundamentals on which you bought the company has remained the same but the stock market is declining.
Now suddenly the stock falls to $16 like in your example, some folks will try to get the “heck” out before it falls further.
So here they miss the opportunity to pick up more shares of the same company for a lower price than the paid for it initially, strange but true.
I am willing to buy at $20, but will not buy at $16.00.
Its really a psychological thing, as if the headlines said ” MASSIVE SALE ON STOCK NOW ON “.
Stock X was $20 now $10 or 50% off
Stock Y was $50 now $40 or 20% off.
You think folks would be tempted to purchase.
If the headlines however screamed” STOCK MARKET PLUMMETS” .
Major blue chip stock X has shed over 50% of its price
Major blue stock Y, has also suffered a huge drop of 20%.
Can you see the reaction to that headline. The overall message is the same, but said completely different.
Both will generate very different emotional response from investors.
Mercury Vapor said
Re: Post 1387
WOOOO…Hold on there CS! You can’t put all of your money into forex trading clubs! Forex trading is a very high risk investment. You said that you have lost money investing in mutual funds at Mayberry and DB&G. Well, investing in mutual funds is for long-term investing. You may make losses in the short-term like 6 months or 1 year, but you should do okay in the long-term. You invest in mutual funds with a long-term outlook, like 5 or 10 years, or even longer. Now during that time the stock market will be rising at times (a bull market) and some times it will be falling (a bear market). If you invest regularly in a well managed mutual fund over the long run you should do well. Your investment will grow slowly but steadily, and you won’t be putting your principal at huge risk!
Also, if you invest in a mutual fund and the value of the fund is falling…it might be a good thing. Here’s why, if the stock market is falling…stocks are becoming cheaper. This creates an opportunity to buy stocks cheaper than they are really worth. Let’s say for example, that a good company like Intel…you know the company that makes microprocesors…is worth about U.S. $20. Then the U.S. stock market starts to decline sharply and in a few months most stocks have fallen in value. Now you have done your research on Intel and know that it is a good company to buy and hold for the long-term…and you see that the stock is now undervalued. The stock is really worth $20, but it is on the stock market trading at $16. If you buy the stock you’ll be purchasing the stock at a 20% discount. Think of it like this…you’re buying the stock at a sale price.
A down turn in the stock market is not to be feared. In fact you should be happy when there is a downturn in the market, because that is were you will find the best buying opportunities. Look at the real estate market in the U.S. right now, since the downturn in the market (caused by the sub-prime lending meltdown) it has become a “buyers market” for homes in many places. You can now buy a home for less than a fair market value. This is a very good time for real estate investors who want to buy homes for a long-term investment.
Anyway, so CS you have to look at mutual funds as a long-term investment. When judging the performance of these investments you have to look at a long period of time. What is the returns of the fund over 5 years? What is the return of the fund over 10 years? If you have the time you can learn about stock investing and instaed of putting your money in a mutual fund you can buy individual stocks yourself. But you must be willing to learn about stocks and keep a close eye on the stocks you own.
CS said
Also Jay, before i touch stocks again, i would better put my money at BNS getting 4% per year if Forex fail and i don’t see a US 3 billion dollar a day industry going doing ever.
CS said
Jay most of us will never invest in stock or mutual funds as it is far more of a risk that forex. I have invested in both stock and mutual funds in the past and i invested with reputable companies (i.e the big boys Mayberry and DB&G and Pan Caribbean) and lost in all three. They promise you X, and you end up with X-Y. The amount i have made in forex over the last 2 year, far exceeds anything i could make through stocks and mutual funds. So don’t tell me about those. I have been in those and lost. I would never ever risk my money in any stock or mutual fund again, ever. Forex is the way to go. I am even now learning to do it myself.
All i do now is say a prayer until month end.
DW said
“TO IGNORE IS THE BEST FORM OF INSULT”
Original SOLDIERS Follow my lead im wounded, mek wi finish him off never to return on Invest4life.
CS said
I have Question. How come Jay always have the articles about investment problems from so many different sources (eg. Sunday Herald), and he supposedly not invested in any club.
Jay, would you honestly tell me who you work for? Since you post so much, i am assuming you are self employed as not 9-5 job allows time to bash peoples dreams.
Also, all that you post is not helping people to create wealth. Why don’t you post ways for poor Jamaican like myself to create wealth faster than the 7 percent NCB was offering be 1 month ago when i went to opened an account with them? At 7 percent per year, when do see me buying my first house which now cost a low of JA$25,000,000 and rises from there?
Help us create wealth and stop bashing people who want to own a piece of the pie.
CP said
There are a few issues, actual FACTS we need to look on… enough of battering Jay…(Driva PLEASE don’t remove him I enjoy the comedy). I note with concern the following raised by a few people.
1. This 25% in point # (iv) I am not liking. It is clear we have to trust DS but this is a serious excuse loophole
2. While there is no problem have a waiting period for encashments
a) why do we need these encashment categories?
b) why is the redemption period not fixed ?
c) and since it is not fixed why does the range have to be so wide, 30-105 days (1 to 3 1/3 months)?
3. Bear in mind that, May 31, 2008 is a Saturday, so ensure you get those forms in my end of day Friday May 30, 2008.
While we might want to ignore or even kick the dooms-day preacher on the bus, let us remember that is just an announcement. The proof of the pudding is the eating and every now and then, the dooms-day preacher turns out to be right.
n.b. There is no evidence that Olint is moving to Belize. All that has happened is that Olint is using a Bank in Belize. Belize is known for off-shore banking and strong banking privacy laws
CS said
@ 1326 “Waiting in the Wings”
I have first hand knowledge that Keen is in trouble, so i would hold off for a while until they can hopefully clear their troubles. Requests are now 3-4 months, as i got an email saying so upon requesting termination of my account.
Leaving Babylon said
Jay – Thank you for these recent informative and contributing post.
Bredren – FYI: Lewfam is continuing to serve their clients. If you remember Texan, he just received a sizable delivery, which we all know is ultimately coming from Olint. I’ve made some good friends thanks to Kevin/Driva and the blog – Praise Jah!
What happened to SnB?
Leaving Babylon said
Jay – Jessum peace! Nuf yu labba labba mout.
I used to really enjoy some of the discussions on this blog and doing my part to try and inform other members, but now it’s about you. You have already informed us that you are not in O and don’t trust DS. Fine, please do something else with your time. If your goal is to narrow the discussion to be a response to your last post, then you’re winning.
Ya ray ray naw renk clot!
I’m sorry and I know that this is flat out rude, but bredren we have to just start ignoring Jay and/or beg Driva to dump him. I have been patient and Jay I even defended you along with FR, but this is just becoming nonsense. You are no longer contributing to a discussion, but merely dominating the blog with anti-D or Cash(-) post of the exact same spirit. We get it, thanks once again, but as a professional in the industry, I can safely state that you have contributed your needful warning to the world. Your personal insecurities are duly noted, please start your own blog elsewhere.
Good bye!
pete said
1374
I know Jay is as a paid consultant with a clear mandate to create FUD and scare as many of you as possible to pressure the club for payment while they put road blocks on the club from making timely payment creating chaos.
I not saying all these club have your best interest at heart.
People remember within CHAOS there is order think about it
V Happi said
Dis blog has a wealth of information..…gwaan Jay, DH et al . Love onnu, loving the exchange.
Thanx Driva
Now onnu ppl. help me, over the next few weeks about US$300,000,000.00 will be coming into Jamaica from the various clubs. Never before in the history of our great country so much money has ever come to us one time without strings attach. Thanks to the big “O”, My Daisy Lady and others.
RedP, you are in big business again!!!!
On the other hand,Jay do u think the outside forces will allow it?
onLuv
V Happi
TOBE said
Pete he will not answer. If you know more info please tell us.But I kinda wonna beileive you more than than my friend. Jay is always posting.
1.If he was a regular employee of a company they would be wondering how he on the computer so much.
2.He has a mobile job where he works from home.Maybe paid to do propaganda
3. he is unemployed and has nothing better to do.
Oneil said
1372
If you all dont have any real facts to posts, dont post anything. I am tired of all these speculators.
By the way, isnt Olint registered in TC, has anyone here every verified what are the requirements for getting such a license, now that would be useful information.
Oneil said
re 1370
Jay u seem to be obssessed with investments in which u have nothing to lose, its like ur a bystander in stands looking to judge everybody else who are the players in the field in the fields taking risks, win or lose
Too many speculators in here who dont know the facts, there are many in here like Jay who get pleasure from others peoples dilema.
You can spend all ur time speculating, its time to move on.
pete said
Jay
Your still trying to divert from telling these poor people the truth answer the question.ARE YOU NOT A CONSTANT PAID TO POST AND GIVE FEEDBACK.
YOU CAN’T RUN
pete said
Jay
Your still trying to divert from telling these poor people the truth answer the question.
Jay said
Concerned, its funny how you posted about english and in so doing posted poor english in the very same post, lol , its a blog so its not so important. Well I see that you went and made the correct in #1362.
IG @ 1361.
Just for the records, I am not saying that you cannot be profitable trading forex, as I know you can. Mr Chung who write for the financial gleaner posted his results for 1month trading and he seemed to have done pretty well.
Now when you are trading for yourself its really not a problem and you really do not have to make any disclosures, however when you are handling other people money, you owe it to them, to ensure that you show some level of transparency in your operations.
The day I see Olint post audited results, which confirms his profits is the day I stop posting about his company and shut up, as he would have been proven wrong.
Now as I have said before if Olint was to become registered and open up his operations to be audited and become transparent, I would consider investing with him.
I have no problems investing in an entity overseas and the FSC really does not have a problem with that either.
The FSC have a problem however with any entity which may be registered in another jurisdiction such as USA/UK and actively solicits funds from Jamaicans in Jamaica.
They would require that company to have its product offering registered in Jamaica.
So for example I could invest with HSBC emerging markets funds for example which offers good returns, and I would not be breaking any laws.
pete said
You still trying to divert from telling these poor people the truth answer the question.
Dash said
If Jay is a college professor, our kids are in serious trouble.
Jay said
CH needs to get medication, as I think he has become a lunatic.
In a 7page release today, CH has rubbished the receiver manager report. lol. Now this guys ( the receiver)is from a reputable auditing firm, which I do respect, while CH is a convicted felon who has been charged for financial fraud for the second time.
CH has stated that he has or is still is in the process of finding the “stolen” funds to repay his investors. lol.
CH also stated that his lawyers went against his advise in this entire C- fiasco.
Now tell me, why is this man not in a mental institution.
Oh, I guess he is working on his strategy, to not face prison time yes, his lawyers will be pleading “temporary insanity”.
So the saga continues.
I will post the release as soon as I my hands on a copy of this report, so stay tuned.
concerned said
Island Girl said
Jay the ‘O’ Has NEVER promised a ve return, get your facts straight. And persons love to harp on the 10%, again ‘O’ has NEVER promised 10% a month, most times its less.
There are some in here who do more than just read baby pips and think they are experts, there are some who are actual experts, not demo accounts experts either. Actually I know 3 persons now who have practiced and learnt forex that they are real experts now. They don’t have to work anymore in a conventional job, they trade full time (actually one still works as he loves his job so much). So this is not a fairy tale thing. We can’t swear for DS but you don’t know the truth either unless you know him personally, do you? And you may say that forex can make people get lazy and don’t want to work (so can stocks). Trust me, I don’t see that happening, not everybody will become such experts. Actually some people may use it as a stepping stone to do what they really want to do in life. I know someone who was able to study for their BSc degree at a good university in England as they did not offer the course in Jamaica or the Caribbean because of the ‘O’. Some have started businesses. People have been able to do good things because of the ‘O’ and they grateful.
A Math teacher being on a blog during the day and night everyday, when do you teach? Answer my question too, if you knew about an investment that was not registered in Jamaica by the FSC but it was registered in England and the USA would you partake in it or not?
concerned said
pete said
Jay knows what I am talking about and I am not joking
TOBE said
jay is a college proffesor and he teaches computer sciences. This was told by me by a friend.Notice he has access to the computer all the time. No math teacher would have that amount of internet access all the time unless he was working with computer. Think and check.
pete said
Jay is no teacher he is a consultant paid monthly to post and gather feedback .
I notice you stayed far from my post(1281) because you know that I know.
Jay Jamaica is a very very small place
PEI said
Whoa do I hear a brap brap
.one big round of applause for jay 
brap brap!
Floridian said
Mi tell unnu already… Jay need fi get 2 box and a kick… Him ears hard and him don’t tek talking so like mi granny used to say, “If yuh can’t listen, yuh must feel.”
Jay… Some of us keeping a meeting up at Mona dam likkle later… Just come round di back when yuh reach and follow the dirt trail through the bushes to the far side…
Jay said
island Girl,
High School mathematics.
That is why I try to teach these folks some maths and proability in here, but the forex maths they do defies the laws of probability.
Here we have people who having read baby pips becoming experts and work out that its easy to post positive gains months after months, no matter what the forex market does.
How on earth can one guarantee a ve return in the most volatile and unpredictable market that has ever been traded.
Soon Jamaican will be full of “forex made millionaires”, or would have lost even more than the $34b so far chasing that dream.
IG @ 1349 says the figure fluctuates , is that to make it not look like a Ponzi. ?
If returns are for real and their is actually “real” money being made in his trading activities why the ” cult” like attitude.
Leaving Babylon said
CS – Oh man! I just finally read your post at #1309! Jay, how much do you charge for piggybacking your co-workers?
PEI said
By the way gentle people memba seh teacher jay is no forex expert. memba seh him seh he only trading on a demo for some months now. please stop waste time argue wid him and his theory them, he is no expert him just ah try act like him know it all. Jay have a agenda that him pushing and have on blinkers and ear plugs so him not open to anything but what him saying. For all we know him probably in one of the club them or have money in som fx place in foreign and a lose him shirt so him feel that there is no way super D could do what he is doing, which by the way we really dont know as many posters say already.
Devon said
Island Girl says “You say you are a teacher, which subject do you teach, it is college, high school, primary?”
Basic school.
Island Girl said
Jay I see you have ignored my comments and questions in @1332. Can’t see why you have such a vested interest in this blog still if you do not have funds in any of the schemes. You sure have a lot of time on your hands. Hope you follow your stock portfolio just as closely.
And Jay ‘O’ does not give 10% per month. There is no fixed amount. Sometimes less, sometimes more, more often less I would say. Please if you do not want to invest in the ‘O’ then don’t but leave we nuh. It is our risk to take, we will bear the consequence whether good or bad. Plese your rhetoric is getting boring. You must be work at the IMF or FSC. You say you are a teacher, which subject do you teach, it is college, high school, primary?
Jay said
DH @ 1346.
Now, the operative portion is
“He is suppose to go back to his clients and say I lost 20% of you money should I continue to trade or should I give you your 80% that is left.”.
Now what is supposed to take place and what actually takes place is sometimes night and day.
So if the O had lost 20% of the funds allowable for trading how would you know.
Re your calculations.
If O is trading at 1% risk and he loses the first two trades, that is roughly 2% of his accounts.
Now to break even he need to improve by 100% on his next trade ie he needs to gross 4% just to get back to his original position.
Just something to chew on.
Since the O refuses to be transparent we really can only speculate on what he is really doing, and herein lies the problem.
I tell you this, If Olint becomes a regulated company and uses some of the stuff he posted in his last email to members, he would not have enough traders to manage clients accounts.
kullcull said
we are all speculating. no position is superior because we do not know how David Smith trades !!!! ( or if he is even trading or as some would say if he even trades to the amount we are expecting).
the confidence/disdain is without basis for either party.
unless we have something audited, we are all speculating.
the only thing we know for sure is that we wire money, we get money wired back
we are happy if this happens. we are sad if it does not.
in the interim we come and blogs and for the most part SPECULATE as to what is going on !!!
DH said
A good money manager will not trade risk 20% of his account per trade.
The 20% comes into play if he trades 20 1% trade and losses.
He is suppose to go back to his clients and say I lost 20% of you money should I continue to trade or should I give you your 80% that is left.
DH said
My friend “O” says 80% of the funds is protected, they did not say 20% is being Traded
DH said
Jay post 1337
“Do you think that 20% of funds traded can give you an average of 10% of the total fund under management.”
I showed you how you can achieve this by just trading 1% of you account.
Now you are asking me to show how “O” can make 80% per month!! Why?
“O” has never given gains above 20%
What is you point?
Go back and read your post so you can understand what you wrote. Because in your post your are saying, for “O” to pay 10% they need to make 80% and I demolished your theory.
My friend, you are now grasping at straws!!!!!
Peace
Jay said
DH ,
Read , stop and think.
Did you expected me to do all that, its not required for the purposes of what I am trying to show you guys.
Regardless of leverage, swaps, carry over trades, pips earned the simple facts remains the same.
The only thing the information you claim I have left out tells you, is whether or not its possible to use all the above to return 80% per mth on the funds traded.
Now since you have gone from Kindgerten to college using babypips, why dont you use the numbers I have above to determine if the “O” can really generate 80% per mth on funds being traded.
Please post your findings as this is going to be interesting
I would like you to state your assumptions made in the following areas:
1. Risk/Reward ratio being used.
2. Win/Loss trades.
3. Stop loss position in terms of pips
4. Average pipe earned per winning trade.
5. # trades per day.
6. # lots traded per day.
7. # trading days used per mth.
8. Net pips gained per mth.
9. Average $ / pips.
10. assumed mgmt fees etc.
I would like to see the results of your expert knowledge developed in the area of forex trading.
Waiting ……
DH said
Forex risk Management 101
1 billion under management ($1,000,000,000)
Risk per trade is 1% of funds under management
Therefore I am willing to risk (loss) on any given trade $10,000,000
Therefore if I study my charts and see a set up with 50pip risk (may loss)and a reward 150pips
Using standard account ($10/lot)
That means I am going to buy 20000lotsat $10/lot x50 pips = money I loss if I am not successful
But if I am successful I will make 150pips
Therefore 20000lots at $10/lot x 150pips= $30,000,000/trade
Now if you trade 20 times for the mouth and you 50% successful
Winning trade for the month $300,000,000
Losing trade for the month $100,000,000
Gains for the Month $200,000,000
%gain for the 200,000,000/1,000,000,000 * 100%= 20%
Typical hedge fund Let say 50% performance fee(this is calculated base on the gains for month therefore 10% of the gains will be keep by the fund manager, 10 % goes to the client.
Leverage only come into play when you are in a losing position and or you have poor money management ie people trading with 20%-50% risk. If you notice my risk was 1% of funds under mangement
Jcan said
Happy Saturday everyone
just looking in on the bus and see that the teacher still a mark shim paper…(NOT SURE IF TEACHER IS A MAN OR A WOMAN HENCE SHIM) Some unruly student like the Patricia she, ITFP,Dash,Island girl, DW infact, it seems the whole class except DR now telling teacher sey shim no gleaned enough knowledge on this subject to be marking papers and posing questions…The class way a head on this subject matter…young people dem very good with current technology…way ahead a teacher…
Regarding DR, him acting strange lately, could not recognize him on the bus at all….Not sure if some one pretending to be the DR from way in kindergarden class on the other blog we were all on before the teacher decided to come and mark papers…
Blessed, mi a hop off the bus in another few minutes…keep being blessed…a long time mi tell you sey see a patient deh an yu no want shim…was it lack of insurance?
DH said
Jay
You obviously dont know shit. where have you used the leverage in your calculation, how many trades per month how many pips captured per trade.
Go read badypips before commenting on any thing having to do with currency trading
Peace
itfp said
All I do re Jay’s posting is to NOT READ THEM
Dash said
Jay reminds me of Rush Limbaugh; Fear monger and a clown with limitless time and energy. Go get a life young/old man/woman and leave investors alone. I am yet to undertstand what motivates you. We have heard your limitless disdain for super D etall. What else are you going to offer. The truth is, no matter what your rant is, you cannot convince anyone in this blog to leave O.
Patricia said
Teacher JAy, I notice you avoid direct questions when posed or whenever you find it convenient. Again where is your proof that OTCI, because that is what it is, is relocating to Belize, or as you say “running”. Where is that proof? And even if they are SO WHAT???. Come please use your better connections and verify that for the benefit of us unconnected ones quivering in fear of losing our hard earned pittance as a consequence of our ignorance and greed. Please help us oh mighty learned Jay, holder of all knowledge and investment wisdom.
Folks you know let Jay talk to himself. There is absolutely no point in responding to his ramblings. Just skip over them, as they have now even lost their “ENTERTAINMENT VALUE”. I think driva had once referred to similar postings as tasteless clutter.
Island Girl said
Jay seriously do work for the FSC? Why spend your days and nights on this blog if you have no vested interest in these investment schemes. I just find it odd.
As I said before there are some things I agree with you and some I do not. Persons have rights to invest where they want to. I agree that they should educate themselves about the type of investment they are going into though. Forex is risky as everyone here already knows. We hear you and yes we know it is risky. By the way Jay you said you invest 75% of your portfolio in stocks, now that is risky. Imagine if it were to pull an Enron on you, anything is possible and yes I believe they would have been regulated and giving financial statements but that did not help. So be careful putting 75% of your portfolio in stocks.
I believe persons here understand the environment, IMF pressuring government; FSC pressuring clubs. It is risky and we know. You seem to be a traditional type of investor – stocks and bonds. Jay there is a lot more out there to invest in, not just stocks and bonds and forex, don’t let the financial sector here let you think otherwise.
If you found out about a type of investment that is not registered here in Jamaica however it was registered in another country, for eg. USA or England, would you partake in it or would you say no way because FSC has not regulated it?
kullcull said
it makes us feel a little bit better. but the proof of the pudding is in the eating. will only feel good when the money is in our pocket.
it is a good strategy and will weed out the persons who need the money for housekeeping.
The fallout to me is the 4.5 % lost revenue that will be accrued by the 30 – 45 days encashment period.
if Olint has inflow to match some of the outflows they can profit handsomely by this time delay
Jay said
Forex guy,
So how u nuh get d email and me get it
You need to connected brethren.
Question for Olint members
Question For Olint Members.
1. Does the new club charter put you at ease?
2. Do you think it will ally your fears and get rid of people like me.
3. Who will verify the numbers ie how do you know that the reason you cannot get your full drawdown is because the 25% limit is reached.
4. Does Olint plan to issue audited financial statements.
5. Do they plan at anytime to be regulated under Jamaican law
All I see hear is a way for Olint to keep your money for longer, ie they have your money not you.
Until you get cash in the hand, you really have nothing, think about it.
This is intended to slow down the collapse of the fund, should another bunch of “rumours” start. In this way Olint can say, well see you signed the agreement and now we are 25% of the amount of funds that can be allotted so you cannot get back at more funds at this time.
Guess that makes you happy
concerned said
hey I got no such email myself so until
ten i’m doing nothing.
Vapour your last post was very good
i too lodged an amount i can afford to loose and and if olint stays afloat then
my two children will not have to worry about money for college in the next 6 years.
If it falters the PM has promised to
give students better deals at the students loan bureau
my other club that had stopped payment since January placed funds in my account last week.
So the vacation to Cancun is back on track
Patricia said
K a part of your question is what PEI had previously raised ie that 25% min and how do members know that the funds requested have in fact exceeded the threshold. I agree that goes to transparency and the need for some form of reporting to members. Again that could be dealt with by releasing statements to members, say quarterly or on whatever reasonable frequency they can get it done. Or perhaps the trade sheets. Right now we just have to take their word.
WRT the # of days to release funds for payment we again dont know how he trades, is he flat each day or does he roll or is there a combination, is there any swing trading?? we dont know, but I think that we might see a loss in gains credited when you make an encashment, in that your money on paper may have stopped accruing gains, but in reality is still traded and the club gets the windfall in transition, because your money is still in fact being traded in that 30-45 day period. Mi nuh know yah mi just confuse miself, but anyway we just dont know.
Patricia said
ForexGuy nope no such email.
waiting in the wings said
Hi i have a question can anyone give me some info on KEEN exchange im very close to joining and jus wanted to know how safe and how long it has been going. i wanted testimonials from not just my referer. I would appreciate it
thanks
Oneil said
People Hillary Clinton just said on tv that she is staying in the race because
1) her husband Bill was nominated in june
2) JFK was assassinated in june,
hint hint,is she saying anything can happen thats she not dropping out? she waiting on Obama fi “get assassianted “” lol
ForexGuy said
Pat:
I still have not received any e-mail and as such, am not sending in any form. How about you? Any news yet? Anyone else still waiting for that e-mail?
ForexGuy said
LOL
Don’t you just love how Jay is simply ignoring all the assaults based on the new information on O? I find it absolutely hilarious that he has no more artillery left, because he was thriving on propaganda, which has all but dried. The truth shall set you free!!!
DR said
He is wasting time, He is either willing to pay back people from his millions around the world or NOT…
Prison won’t frighten him….what the hell is six weeks?…..he already did 3 weeks recently…plus he did 10 years some time ago….
CH has to make up his mind!….Please surprise Jamaicans.
DR said
PEI, I will take your suggestion..keep it safe!
Mercury Vapor, Thanks for your compliments….well well, you have to go with your own gut feelings….For me, I have always thought that “O” was the greatest, but was disappointed when they closed the door on me a few years ago….O-tci did look enticing….but I will wait until the dust has settled for all clubs….
I suspect that most clubs minimum will be $10,000 eventually and that there will be alot of rules governing withdrawals etc….so once again, only the rich will survive.
Well if you can trade for yourself or find an individual who is willing to set up a small club with less than 20 people, who have less than $10,000 each….Don’t think that would raise red flags.
STAY UNDER THE RADAR….
Mercury Vapor said
Re: Post 1315
DR said: “I can’t believe that despite the general climate, people are still trying to get into other clubs…STAY AWAY!…the IMF is upon us. Man jump off building…Even the great KEEN is said to be having problems which will affect “Visions” and “Phinns”…”
Hi DR, nice to see a post from you. You’re one of the best on this blog, and I always like reading your posts. Regarding O-TCI, I’ve wanted to join Olint for years now. I was going to join a long time ago, but just when I got some money together, the club closed to new members. Now O-TCI is open, and I might get in…things looking good so far…so I have to try. I’m only going to “invest” a small amount, and if I lose it all…I’ll be okay. I wouldn’t want to lose any money but I understand the very high risk associated with these kinds of investments.
Also, to anyone thinking about joining Olint TCI…I would say go for it. Eventually it will close it’s doors to new members so if you want the high returns you’ll have to “piggyback” on someone or go through a feeder club like Lewfam or Wilshaw FX. However, only “invest” what you can afford to lose! And once you put that money with them…”kiss it goodbye” in your mind!
jay said
Cash Plus Receiver wants info from BNS!!
There is news that BNS has received a request from the Cash Plus Receiver, for information on certain alleged clients. BNS in response, says they will be asking to court for guidance on how to deal with the matter as they do not want to breach any regulation/laws covering confidentiality. The Supreme Court is to hear the matter next week friday, May 30, 2008.
hmm !!!
PS. For all the investor who have been made Cashless by Cashplus, err Cash minus, keep reading as I understand that there is supposed to be a meeting tomorrow.
Agenda.
1. How did CH trick so many of us.
2. How not to get tricked by another scam
3. What needs to be done to get back “mi money from Cashminus.
The final and most important subject on the agenda will be.
” Why did I act so dumb and invested with a Con Artist”.
Please be prepared for some very enlighting discussion.
Moderator will be:
CashPlus left me Cashless.
Ok the meeting is supposed to on, but what the “hell” dem going to discuss.
The darned thing was a ponzi which means it was illegal, now it a police matter.
These people just dont get it.
They should be busy helping the police track down CH ill gotten gains, instead they are wasting time ” bout dem a keep meeting” .
PEI said
DR is wha do you lately??? listen put you daisey under yuh matrras and sit on it wid a pit bull and a M16. that way you know say it safe. Oh an’ sprinkle some oil ah mek it grow roun di bed . Hope that help.
Patricia said
“Olint running again, I wonder why.” Jay, I know some folks have said something to that effect, but where did they and you get that information from. One of the banks they now use is Belize Bank in Belize. Belize Bank also has a branch in TCI.
Now can anyone state categorically that he is relocating officially to Belize or is this just part and parcel of the ongoing speculative banter???
For the record Belize has a better rating than TCI and many other “off-shore” countries, and the government has been doing a lot to improve the country’s image as a financial centre.
Off shore centres do not attract only ponzis but also legitimate enterprises. It that were the case, just think what the international authorities will think of Ja’s own thrust to become an off-shore financial centre.
Ja the murder capital of the world, with its corrupt and inept governmental agenicies and so called regulators, is certainly in no position to call any country a haven for thieves/ponzis etc.
DR said
What do you think of this? Is it just another “Swiss” or another “Min”?
https://www.pathway-2-prosperity.net/sysinvest/members.php?action=0005&page=index.php
DR said
I can’t believe that despite the general climate, people are still trying to get into other clubs….STAY AWAY!…the IMF is upon us. Man jump off building….Even the great KEEN is said to be having problems which will affect “Visions” and “Phinns”…hmmm
C-reif collape….not to mention the Ponzi, CashLess and the “Warner”,,,ouch….Cann find “MAX”….MExpress run off, let’s not talk about “The Expert”….The climate is too gloomy.
Was’nt there a run on WW recently, another bank closing an account… etc…
Ques:
When I get my garden of Daisies from Cycle A, where should I put it? Where? Please tell me…..
jay said
CP@ 1304.
Olint running again, I wonder why. Is it because the Premier who was ” a big im up so much” on a alleged rape charge and could go prison.
Now I hope the Premier did not pull any strings to have Olint operating in that Island.
Now a little on belize.
This is a tax haven where a large number of alleged “ponzis” have been said to have been registered.
Anyone remember “minivestment”, yes they were said to have been registered in belize along with countless other “ponzis”.
Now the IFSC – International Financial Services has an entire page dedicated to warnings to potential investors about where you should , or should not place your funds.
Check here.
http://www.ifsc.gov.bz/notices.html
For those who are thinking of entering, you may also want to check here too.
http://www.ifsc.gov.bz/licensed_provider.html
Remember PDCA –
Plan your strategy
Do your due diligence
Check
Act
Good Luck
itfp said
Hi TOBE,
AGAIN…
Re 1031 – You mentioned that you invested in some HYIS in Canada as well. Can you provide the names of some of these clubs? Yes or No
TOBE said
jay yu come offa di the O and May daisy quick eeh???lol. Now yu jump pon careif…..yu is a strange bredda fi true
PEI said
Floridian mi glad mi see you.tell me something how we nas members will know when the club funds reach the 25% limit for requests? reason i ask is that super D will not grant full requests where total amount is more than that and will just pay part. does that mean Super D will let us know how much funds under management at month end time? I would be more comfortable with that. if not i wonder if they would consider giving us members a statement at each quarter saying how much funds under managment. Just put it on the site for us to see along with a little report each month on how trading went. I see where other clubs do that and it would shet up people like Teacha Jay and him fren them.More important people would settle them self and ease off the rumor and panic business
CS said
Stop bash Jay in the forum folks. We all know Jay have funds in these clubs. I think he wants to be the only one left in the clubs, so he can reap all the rewards. Just call him at 1-888-991-1FSC or 1-888-PrimeMin.
Floridian said
Just finished reading that IMF report and my question is this… Why IMF nuh go help out the people them inna Myanmar that lose how much thousands of life from the recent typhoon they had??? And after that, go help out the people that suffering in China from that earthquake??? Then after that, head down to Zimbabwe where Mugabe don’t want to relinquish power after losing the election and bread cost people 1 billion zimbabwe dollars??? Then after that talk to baby Bush about why it costing tax payers in America 1 Billion US Dollars per day to fight a war inna Iraq that him start under false pretences??? Mi leff out anything???
Why dem nuh go deal with them thing deh instead of come down to likkle Jamaica and a chat fart bout investment schemes??? Is where unnu did dey when hurricane lick wi last year??? Is dem time deh wi want to hear from unnu… Cho… Just a come upset mi spirit…
Like one of mi blog breddrin dem woulda seh… Tek way unnu self!!!
Stress now Blessed said
Hello Hello Hello – This is Stress and I am still Blessed!
DRIVAH do well keep Jay pon di bus, cause wi wouldnt have a ting to read till now.
Jay if you would just take a break off the bus sometimes more full fare passengers could ride.
Jcan meet at the next bus stop and mek wi hop on together -dat is if Jay decide to hop off for a while.
I am waiting on M y D ear to post the category – in which I know I am in “J” not for Jamaican LOL.
PEI said
Fuzzy and Seville just keep emailing membercare even if you have to everyday until they sort it out. Thats what worked for me.
Mercury Vapor said
Re: 1298
Hahaha…dat di one funny DW! Maybe we a pick pon poor Jay too much. He does seem to be behaving himself lately…don’t it??? But mi still a wonda is how dis yeah bredda have info pon Olint, May Daisy, etc.? Him say dat him is not a memba of any club…so wah him a get dis information? I was wrong, Jay not working for no bank (or Captial Blu)…I think Jay is…secretly…Prime Minister Bruce Golding!
It makes sense don’t it! He’s well connected…has an elitist attitude…knowledgeable about investments…and look everything inna Jamaica a mash up! Nuthing nah go right! Crime wave a sweep di island! Price of every blooming ting gone up! Why? Cause yu no see sah di Prime Minister a spen all him time a post pon dis blog!
Jay…aka…Prime Minister, stop spen yu time a post pon di damn blog…go do some work!
CP said
@Jay. You have shifted you focus to CAREIF? Has Olint Dumbfounded you? I wonder what on N-C-t-c, FR, John Doe etc are thinking ….
1. Due dililgence is over
2. Belize….. on the way
3. Schedule on time…
Do you still think Olint on the wrong track?
@Fuzzy & Seville … Maybe you should all be patient, Keep the faith … Things are unraveling slowly… The light is at the end of the tunnel or is it?
jay said
Floridian – that one was good.
Carief Part 3.
The other strategy was and still is to open in other markets such as the USA, Canada, and the UK. Markets where investors and consumers are more mature in understanding the dynamics of what it is that CAREIF LTD does and to understand that the accusations levied by the FSC ARE THE FURTHEST THINGS FROM THE TRUTH. In keeping with our model of pursuing the path of least resistance, Management decided to, not waste anymore time or money; spending millions of dollars per month, trying to convince home bases Jamaicans that, there was nothing illegal in them buying property, membership in our real estate investment club, doing joint venture developments or buying online services and goods such as our e-books services from CAREIF LTD. The FSC has been very irresponsible by not letting the general public know that CAREIF’s products and services are not securities, especially in light that the majority, including educated professional in the Jamaican markets are themselves not sure. What makes it even worse for CAREIF to function in the Jamaican market is the fact that these same individuals who pay attention to the FSC, are themselves not willing to educate themselves. They would rather sit quietly even if the FSC is damaging their investments rather than be vocal as was being encouraged by CAREIF LTD.
K said
@ Floridian 1300….a first I was..hmmm..where is this going….but you had a good punch line that made me chuckle…..
jay said
Carief Part# 2
CAREIF LTD is not involved in the sale or marketing of any securities instruments as defined by the laws in Jamaica. Because of these ads, products and services which are normally sold as a means to generate income needed to cover the cost of staff and other regular monthly expenses; though innovative and in demand, just were not being absorbed. The decision therefore was and still is to down size the operations here, restructuring in a manner in which the development side of the business would continue, especially in light of the multiple projects being pursued worth Billions in term of projected profits for the company. A further decision was made to keep dedicated staff who would man the clerical and logistic operations while being supplemented with new staff recruited in the new markets targeted to open operations. CAREIF’s operational strategy is to focus on employing skilled professionals in sales, who are motivated to generate high earnings for themselves and the company. These measures will succeed in not just making CAREIF MORE EFFICIENT, BUT MORE PROFITABLE since we are now expanding our markets as well as our zones of operation earlier than originally planned. ONE very important fact to remember here is that CAREIF in reality does not need to maintain a large number of people to manage our developments through the permitting phase. Other areas of the developments will be subcontracted again justifying that the company will become financially more efficient. That’s the aim of every business person.
Floridian said
Anyway… Mi know the drivah nuh really like to much joke pon di bus cause him say is ah serious investment drive wi deh pon, but mi haffi give unnu dis one…
One day, a lizard was walking through the jungle and look up in a tree and see a monkey. The lizard hail up the monkey and ask him, “What ah gwaan?”
The monkey replied, “Bwoy, mi ah stress out pon dis Cash Plus thing so mi a bun some weed fi cool out… Yuh want some?”
So the lizard, who had issues of his own with Olint, climbs up the tree and takes a seat beside the monkey and the two of them start smoke the herb and start to reason out bout which company is Ponzi and which one was Pyramid and who ah fight down who and bout Michael Leeching and NCB and FSC and who is thief and who is saviour.
After awhile, the lizard say him mouth start feel “dry” and that him going down to the river for a drink of water. So the lizard climb down the tree, go to the river bank and lean over to drink some water. But because him so high, him lean over too far and drop in the river.
A crocodile notices this and swims over to the lizard and helps him back up on the bank and asks the lizard, “Yuh alright?”
The lizard explains that he was up in a tree with a monkey talking about their investments and they were smoking some ganja when he got thirsty and came to the river for a drink, but because he was so high, he fell in the river.
So the crocodile decides to go investigate this for himself and starts walking through the jungle looking for the tree with the monkey in it. He finds the tree with the monkey still smoking the weed, looks up and shouts out, “YOW!!!”
The monkey looks down in shock and says, “A wha di blood claat?!?!… Is so much water yuh drink????”
FuzzyOriginal said
I have been having problems with olinttci also. Made a placement since March 12, 2008 and it is still a placement, not a credit to the account. Money has not been traded. I have sent numurous emails to them. Finally got through to the Kingston office this month and got a reply on May 8, 2008. The email just said they are making sure the money in in their account. Still no credit to my account. I guess that is part of the risk!!!!!!!!!
DW said
Jay a hide caw mi invite im fi a drink an im ketch fraid….
Floridian said
Jay, Jay, Jay…
Yuh see how much people ah line up fi give you 2 box and a kick… Is nuff box and kick dat yuh nuh man… Yuh think yuh can survive the beating yuh going get???
Mercury Vapor said
Good morning everyone, right now I’m in the process of joining Olint TCI, and so far so good. They are really slow in replying to emails though, I emailed them last week Tuesday and is today I get a reply…so thats about 10 days. Well, not too too bad I suppose…but could be better. Lewfam Club answers emails promply (usually the next day) and I haven’t seen any new encashment policies for this club yet. I guess there hasn’t really been any “run” on Lewfam Club so no need to do what Olint did.
K said
OK so I just read this on radiojamaica’s site
http://www.radiojamaica.com/content/view/8354/26/
Why CH don’t give more useful information, such as, where exactly is the money? JUst payback the people if you really can since you disagree with the receiver’s report so people can get on their merry way.
I don’t understand what is CH’s end game in all this.
Who exactly is in the “Friends of Cashplus”? His fellow cronies.
His renowned publicist needs to do the ethical thing here and ask her client to release useful information for the larger good of his clients and country and his organization that he clearly still believes his viable.
Even DJs are lamenting about their losses…..
What the people don’t want to hear is useless information.
DW said
Ms P, I have been wondering the same thing myself….surely we arent exempt..or are we the chosen few.
waiting in the wings said
im happy to see that the posting from olint caused the blog to come alive again the discussions were a little too educated for me . i just glanced over them never understood a ting.:-)
I am happy with the move by olint and will certainly comply. I would like to see them update the TCI account and messages with the same speed as o’s website.
Im still waiting to see what MD comes with because it think that she just did not manage her thing properly you cannot allow a company to grow beyond your capacity to effectively manage it. its in all the business books, dont bite off more that you can chew.Therefore when you breed dissent you should not get angry becuase its your company no one put a gun to your head. I know that jamaicans hard fi deal wid and them boisterous and uncouth at times but temper that with the fact that is desperation coupled with hope and the emotional mix will make anybody carazy yup i said carazy:-). The fact is MD in trouble fram december plus with her going to jail and you can see that someting wrang lang time.So lets not play the blame game here.
I truly wish for the best outcomes for these clubs because it has given thousands of jamaicans a reason to starrt living and david was obviously the catalyst. For the unscrupulous(sp) ones who start their own scam clubs i pray for them that they dont mek any irate customer ketch them especially “one away”.
Dash said
Jay, Jason, Fr, Nacote I have a job for you, a good paying job that will keep you busy and productive . First off you have to go through two weeks of training. You also, will have to pass a psychological evaluation test and battery test. Please conisider this offer. Oh yes, there is a caveat: you will agree that you will no longer blog on internet and you will agree to a new name; “clown”.If you are interested, state your email address here in the blog and I will forward you the Job particulers.
Patricia said
FOREXGUY, have you received that last email yet? I am wondering why is it that otci doesn’t also receive those advisories.
K said
Why does this Jay fellow care so much about O’s demise or success if he or she is not invested?
Are you really a sheep among the wolves and really have a stake in the club but are afraid to come forward given your tongue lashing on the blog?
Jamaican parents and grandparents all taught us “what don’t concern you leave it alone”. I just don’t get how you have so much time to write and followup if you have no gains or losses in this thing. What’s your real motive? To educate or misinform.
There is always room for another opinion or be on the other side of the fence BUT please do so with objectivity and since you like many of us don’t have the right ear or the personal voice of DS in your ear anything you say is purely speculation until members are notified by email or other medium.
Keep the faith!
jay said
Information on Carief – Part# 1.
This is the information provided to by Carief to its “investors”. I will have to post in in 4 sections as its too long to make a single post.
Here goes .
Notice
In a bid to make sure CAREIF LTD remain viable and competitive, management took certain measures that resulted in the reduction of unneeded, unproductive members of staff. The company’s income stream dried up because these same ; now with x-members of staff, we are unable to perform under the hostile conditions resulting from the Financial Services Commission’s (FSC) constant attacks on CAREIF LTD, naming and advertising in the mass media, that our company was not licensed to sell securities. These decisions were taken after CAREIF took specific measures including, employing professed experts in sales and marketing, offering extensive training as well as weekly meetings and motivational sessions, with absolutely no improvement in staff performance including those of the so called experts. Maintaining a nonproductive staff in light of no production simply meant that the company had very little choice in restructuring. Which is what was and still is being done. This move is not a notice of closure as was stated by the news article, which sent panic waves to our partners. In several meetings held with the sales and marketing personnel present, they were informed that management had to justify salaries for staff members. Where there is no production indicating none performance, there would come a time when, the monthly salaries would not be paid since the Principal was not going to continue to carry an unproductive staff. In spite of several meetings where these statements were made, the Principals did none the less carry staff for over 8 months of none production.
Stay tuned for part 2.
kullcull said
people will lose 4.5 % on average for now encashing !!! based on new timelines
Olint with bath off that extra money. remember, you will lose half the month’s interest…. which equate to apprx 4.5 %
Bless said
PEI, I agree with you the same IMF that moved wi dollar from 2 to 1 US to 50 plus to 1 US a chat. Though them USA get wi goods for nothing and wi have spend every thing wi have on oil. They are to be blame for the high crime rate etc..
Seville said
Hello – I just got into OLINT TCI and sent my first placement. It has been over a week and I have not heard back from them or seen it deposited into my online account. Is this normal? Thanks.
pete said
The slave master(IMF) had crack that wipe from September regarding
unregulated schemes that is why you see the coordinated efforts from the gov and Banks inflation is the the real fear too much cash on hand with no real productivity create chaos.
This is why Jay and all his friends hang out here all day and all night doest anyone wonder if this guy sleeps he’s does consultation on behalf of …. can say.
They know there is nothing wrong with forex trading but it doesn’t fit into there strategy for the Caribbean it to sophisticated for the Island and it had the ability to eliminate the power of the Boj on currency.
This is a small Island and power is consentrated in the hands of few people you really think they want some unknowns with that type of power.
Think and check
unreal_investor said
*line…
DR said
Is this the reason why a certain club wants to move from Turks to Belize….just wondering///hmmm
http://www.jamaicaobserver.com/magazines/Business/html/20080522T210000-0500_135898_OBS_CONTROVERSY_CONTINUES_TO_DOG_MISICK.asp
unreal_investor said
Respect Floridian, me first in life fi Jay…
jay said
The IMF Knocks unregulated schemes !!
Eva-Maria Hanfstaengl speaking with Caribbean Business Report, said: ” If unchecked, unregulated schemes in Jamaica such as Cash Plus and Olint can severely damage Jamaica’s reputation and lead the country into a calimitous situation. The rate of returns promised by these schemes is implausible and Jamaicans need to know this.
http://www.jamaicaobserver.com/magazines/Business/html/20080523T000000-0500_135938_OBS_IMF_EYES_GROWTH_OF_UNREGULATED_INVESTMENT_SCHEMES_IN_JAMAICA.asp
jay said
More trouble for Cplus.
Mi seh even d law professor get tricked by CH.
“Yow dis man good bad to rathid”.
United States-based law professor David P Rowe has sued the failed investment scheme Cash Plus Limited and its embattled head Carlos Hill to recover a whopping J$117 million, making his the largest suit filed so far by a disgruntled lender to the scheme
http://www.jamaicaobserver.com/news/html/20080523T020000-0500_135945_OBS_MORE_WORRIES_FOR_CASH_PLUS_BOSS.asp
Mercury Vapor said
Re: 1256
Wha di bloodc%#$@! Jay, yu post email from Olint and May Daisy!!! A wha di bloodc%#$@ a gwan!
Jay, fi real, is how yu get all a dat di information? A lie yu a tell man, yu inna all a di club dem!
Leaving Babylon said
WHoa! MercV – no way! Jay loves Daisy, Jay loves Daisy
Leaving Babylon said
Olint Breddren! This is wonderful news. I was expecting something very similar to this policy. Sorry to all of you that like bugging the Jcan office for weekly encashments, but it really was ruining their capacity to service members. This new policy, although tough on those wishing to pull millions, is a great fit and will streamline operations and consistency. By issuing the request on compliance with a default closure for non-compliance, this will allow those that just want out to simply do nothing, and bring the number of members down. I don’t see this as a negative at all. What hedge fund allows you to make 2, 3 request a month? Most hedge funds allow you to make one withdrawal per quarter and you must maintain 1 unit ($50k USD) with a typical $10k buffer. So in other words, maintain a $60k minimum that you can’t touch or leave the fund. Plus, if you only have the $60k invested and you need money before the quarter’s up – you’re out of luck. Once a month is reasonable and practical. This should add years to the clubs life and sufficiently slow any mad dash rush for those people freaking out.
Forex guy – I got my e-mail, but it’s not yet posted on their member’s website.
Mercury Vapor said
Re: 1260
Hold on a minute! Jay, I thought you said that you weren’t a member of any club? So how did you get that May Daisy email?
ForexGuy said
By the way, did any O-TCI members receive such an email? I ask as I have not received one.
Thanks
ForexGuy said
Jay, you are obviously very foolish if you believe that:
“There is no way they going to want to wait between 30 – 105 days for there funds”
If you see these very serious and drastic changes to the organization, and cannot recognize that it shows increased security and stability, then you are truly a fool.
What is the big deal if you have to wait 45 days for a standard encashment? I have to wait up to 30 days for a Bank of America cheque to clear my bank account and I sure as hell did not make 10% a month on that money.
Bad mind will kill you!!
CS said
PEI, you are welcome. I have already signed mine up. Just to get it stamped and i am cool. To Jay and all Detractors, you need to leave the dark side (Government, FSC and MLC aka Babylon) and join us in the light. The tunnel looks as if it clearing up.
pete said
I clearly understand why these clubs have all moved offshore and will be increasing the amount you must have invested with them.
This will
1)cut alot of people who should not be in these club
2)you will see a reduction of info posted on these sites
3)Serious member will less likely to post info for Gov and bank official like jay to use to see if there strategy is working attack
clubs on multi fronts.
4)clubs will offer offshore accounts to members eliminate local interference
P.S Alot of you asking why O just don’t register why not ask what are the prerequisite’s via vie members names,length of time in club and total dollar amount invested = back tax
So Jay and the fools feeding him the info its only for a time
Roli said
Jay, i know you want to see this guy fail, but you must admit it. IT is a step in the right direction. I was expecting 3 months for all encashments. 45 days is quite short.
PEI said
CS my friend thanks for the post. Media and detractor can do and say what they like but me not changing no course. People I say run wid it! Jay is not a shackle. yes mi know mi is a idiot
Roli said
No Jay, it is called growing pains and getting their act together. This is a step in the right direction. Even if it is a baby step. People will sign it(trust me). Looking +ve though, there are still deadlines left to be made. Lets see how it turns out.
PEI said
Jay i dont sgree with you this time. all you have to do is set up your affairs right. One long time I post some suggestions on encashment and some people run me but me know as a businessman that the everybody a draw big money one time cannot work and systems needed.
Look if you know you want funds the end of July and is under half mil, then send in your request the proper way and do it before June 15th simple and so on. What did take place last year with Issa and them must never happen again. Dont see the problem.
Fair is fair.
CS said
Jay always late
NEWS FLASH – You heard it first.
If you are a current “O” member, “O” just sent out New Encashment Policy. It needs to be filled out and signed by JP/Notory Public or Attorney at law and emailed or fax with original sent by May 31, 2008.
See Below
OEP 5/22/2008
OLINT TCI
May 22, 2008
Dear Club Member:
Encashment Policy – Effective June 1, 2008
As of June 1, 2008, the policy outlined below will be applicable in respect of all requests for
encashment (“Encashment Requests”) submitted by members of the club (“Club Members”):
(i) The Club reserves the right to modify the policy relating to encashments from time to
time. Any future changes to the policy relating to encashments will be posted on the
Club’s web site at https://overseaslocket.com. Club Members will be given e-mail
notification of the posting on the Club’s web site.
(ii) All Encashment Requests MUST be submitted online at
https://www.overseaslocket.com. Encashment Requests received by any other
method will not be processed or acknowledged.
(iii) Encashment Requests may be made between the 1st and the 15th of any calendar
month (the “Encashment Period”). Where the 15th day of the month is a public
holiday, Encashment Requests must be received on the last Business Day prior to the
15th day of the month. A Business Day is any day which is not a Saturday or a
Sunday and which is not a public holiday.
Where an Encashment Request is made after the 15th day of any calendar month, such
Encashment Request will be processed for payment as an Encashment Request
received in the Encashment Period of the following month. For example, if an
Encashment Request is received on June 16th 2008 (after the June Encashment
Period) such request will be treated as having been received during the July 1- 15th
period and will be processed during the July Encashment Period and the amounts
encashed (such amounts being in accordance with the policy set out herein) (the
“Encashment Proceeds”) will be paid accordingly.
(iv) For each account, the maximum number of Encashment Requests which may be
made in any one Encashment Period (or in any one calendar month) is one (1).
(v) As at June 1, 2008, the maximum number of accounts on which a Club Member may
be named as account holder (whether singly or jointly with other/(s)) will be three
(3). A Club Member may make encashments from a maximum of three (3)
accounts bearing the name of that Club Member as account holder (whether singly or
jointly with other/(s)) in any one Encashment Period (or in any one calendar month).
In cases where a Club Member has already made three (3) Encashment Requests in
any one Encashment Period, additional requests received in the same Encashment
Period, will be treated as having been received in the Encashment Period of the
following month and will be processed accordingly.
OEP 5/22/2008
Where prior to June 1, 2008, a Club Member was named as the holder of more
than three (3) accounts (whether singly or jointly with other/(s)), no action will
be taken by the Club to reduce the number of accounts so held at this time,
however, such Club Member will be restricted to making Encashment Requests
from three (3) accounts only in any one calendar month and the policies in
relation to Encashment Requests stated herein will be applicable to all accounts
held.
(vi) If in any one Encashment Period, the Club receives Encashment Requests which in
the aggregate represent more than twenty-five percent (25%) of the combined value
of the Fund, Management may in its sole discretion reduce, on a pro rata basis, each
Encashment Request for the relevant period so that no more than twenty-five percent
(25%) of the value of the Fund will be encashed in any one Encashment Period (the
“25% Limit”). The unsatisfied balance of any Encashment Requests in excess of the
25% Limit will remain invested in the Club. The unsatisfied balance of Encashment
Proceeds as specified in the original Encashment Request shall be satisfied in priority
to any Encashment Requests received in relation to subsequent Encashment Periods,
until the original Encashment Requests shall have been satisfied in full; PROVIDED
THAT encashments on any subsequent Encashment Periods shall always be subject
to Management’s discretion to reduce each Encashment Request on a pro rata basis
as aforesaid.
(vii) Satisfaction of Encashment Requests will be subject to the Club’s ability to access
funds from its accounts held with its bankers and or brokers from time to time.
(viii) The Club reserves the right to refuse to satisfy Encashment Requests where the Club
believes or has been advised that such refusal is necessary or appropriate to ensure
compliance by the Club with any applicable anti-money laundering or other laws or
regulations to which the Club is subject.
(ix) The Club reserves the right to terminate the membership of any Club Member for any
reason. Where club membership is terminated, all accounts of the Club Member will
be closed as at the date on which notice of closure is received. The Club Member
will be paid the value of each account closed in accordance with the payment
schedule set out in paragraphs (x), (xi), (xii) and (xiii).
(x) Encashment Requests will be categorized and designated as follows:
a. Standard Encashment Request – an Encashment Request in an amount of
USD500 – USD500,000;
b. Elevated Encashment Request – an Encashment Request in an amount of
USD500,001 – USD1,000,000; and
c. Grand Request – an Encashment Request which is in excess of USD1,000,000.
OEP 5/22/2008
PROVIDED that Encashment Requests received in any one calendar month for
accounts bearing a common name as the holder (whether singly or jointly with
other/(s)), will be aggregated for the purposes of determining the category of
request. The total amount of the Encashment Request made in any one calendar
month in respect of all accounts on which such common name appears as the
holder (whether singly or jointly with other/(s)), will be used to determine the
category of the Encashment Request and such Encashment Request will be
treated accordingly.
(xi) Standard Encashment
Standard Encashment Requests will be settled during the last two (2) weeks of the month
following the applicable Encashment Period for which an Encashment Request has been
received. Accordingly, there will be a 30-45 day period between the applicable Encashment
Period for which an Encashment Request has been received and receipt of the Encashment
Proceeds. For example, a Standard Encashment Request made between June 1st and 15th will
be settled between July 15th and July 31. PLEASE BE REMINDED THAT RESULTS OF
TRADING ACTIVITY ARE CALCULATED ON THE LAST DATE OF EACH
CALENDAR MONTH (THE “CALCULATION DATE”) IN ARREARS.
ACCORDINGLY, WHERE ENCASHMENT REQUESTS ARE MADE, PAYMENT
OF ENCASHMENT PROCEEDS WILL BE MADE AS AT THE LAST
CALCULATION DATE PRECEDING THE DATE OF PAYMENT.
(xii) Elevated Encashment
Elevated Encashment Requests will be settled during the last two weeks of the second month
following the applicable Encashment Period for which an Encashment Request has been
received. Accordingly, there will be a 60-75 day period between the applicable Encashment
Period for which an Encashment Request has been received and receipt of the Encashment
Proceeds. For example, an Elevated Encashment Request made between June 1st and 15th
will be settled between August 15th and August 31st. PLEASE BE REMINDED THAT
RESULTS OF TRADING ACTIVITY ARE CALCULATED ON THE LAST DATE
OF EACH CALENDAR MONTH (THE “CALCULATION DATE”) IN ARREARS.
ACCORDINGLY, WHERE ENCASHMENT REQUESTS ARE MADE, PAYMENT
OF ENCASHMENT PROCEEDS WILL BE MADE AS AT THE LAST
CALCULATION DATE PRECEDING THE DATE OF PAYMENT.
(xiii) Grand Encashment
Grand Encashment Requests will be settled during the last two weeks of the third month
following the applicable Encashment Period for which an Encashment Request has been
received. Accordingly, there will be a 90-105 day period between the applicable Encashment
Period for which an Encashment Request has been received and receipt of the Encashment
Proceeds. For example, a Grand Encashment Request made between June 1st and 15th will be
settled between September 15th and September 30th. PLEASE BE REMINDED THAT
RESULTS OF TRADING ACTIVITY ARE CALCULATED ON THE LAST DATE
OF EACH CALENDAR MONTH (THE “CALCULATION DATE”) IN ARREARS.
ACCORDINGLY, WHERE ENCASHMENT REQUESTS ARE MADE, PAYMENT
OF ENCASHMENT PROCEEDS WILL BE MADE AS AT THE LAST
CALCULATION DATE PRECEDING THE DATE OF PAYMENT.
OEP 5/22/2008
(xiv) Emergencies
Management may in its sole discretion
(a) permit the processing of Encashment Requests at a time other than during an
Encashment Period in relation to any one or more Club Member; or
(b) waive or modify notice periods which are specified herein in relation to any one
or more Club Member;
(c) make arrangements for the payment of Encashment Proceeds within a shorter
time than specified at (xi) (xii) and (xiii) above in relation to any one or more
Club Member
Where a Club Member experiences an emergency. An emergency situation includes but is not
limited to death, hospitalization, or asset foreclosures.
Where a Club Member advises that he /she has an emergency, such Club Member will be
required to provide documentary evidence in support of emergency requests. Such requests
will be considered on a case by case basis.
Where Management has approved an Encashment Request on an emergency basis, the Club
will use its best efforts to pay Encashment Proceeds within five (5) Business Days of receipt
of the request.
The Club has made banking arrangements to facilitate payment of Encashment Proceeds in
the event that a Club Member has an emergency. These arrangements will be at a cost to the
Club and so where Encashment Requests are satisfied on an emergency basis, an emergency
encashment fee (the “Emergency Encashment Fee”) of 8% of the Encashment Proceeds
will be charged to the Club Member and deducted from the Encashment Proceeds where
Encashment Requests are satisfied on an emergency basis.
(xv) Confirmation of willingness to be bound by new encashment policy
Club Members will be required to indicate that they are willing to be bound by the
Encashment Policy noted herein by so indicating and affixing their signature to the foot of
this letter where indicated. PLEASE NOTE THAT ALL ACCOUNT HOLDERS WHO ARE
NAMED ON AN ACCOUNT MUST SIGN AND THEIR SIGNATURES MUST BE
WITNESSED BY A NOTARY PUBLIC, JUSTICE OF THE PEACE OR ATTORNEY –
AT – LAW WHO MUST AFFIX HIS/HER STAMP AND OR SEAL.
Please return a signed copy of this letter to us NO LATER THAN May 31st by e-mail at
encashpolicy@overseaslocket.com or by fax at (876)927-9175 THE ORIGINAL MUST
FOLLOW BY MAIL to the attention of your customer service provider Olint Corp Limited
1c Braemar Avenue, Kingston 5, Jamaica.
OEP 5/22/2008
Where Club Members indicate that they do not wish to be bound by the Encashment Policy
set out herein OR do not respond on or before May 31st 2008, all their accounts will be closed
as at May 31, 2008 and the Club Member will be paid the value of each account closed in
accordance with the payment schedule set out herein in paragraphs (x), (xi), (xii) and (xiii). If
you have any questions in relation to the above please direct same to our Call Centre.
Yours faithfully,
OLINT TCI
Confirmation by Club member/(s) of acceptance
of encashment policy as at June 1, 2008
I/We hereby agree that we consent to the implementation of and agree to be bound by the
new enchashment policy outlined by Olint TCI in its letter to Club Members dated May 22,
2008 and which policy takes effect on June 1, 2008.
(1)
——————————– ——————————–
Signature of Club Member Name of Club Member (Please print)
——————————–
Date
(2)
——————————– ——————————–
Signature of Club Member Name of Club Member (Please print)
——————————–
Date
(3)
——————————– ——————————–
Signature of Club Member Name of Club Member (Please print)
——————————–
Date
Roli said
Jay you are late
J.A. Yute said
Dig deeper Jay there’s new info to be found for “O”.Lol
PEI said
Well Missa Jay please try to get the Latest Olint one cause me did not get it and me need to know what going on. The one you just post we see already.
Jay said
e-Partner Communigram (May Daisy)
“Trust in the Lord and lean not unto thine own understanding. But in all thy ways acknowledge him and he will direct thy path.”
Greetings Dear Partner,
Current Situation
The last couple of months have been extremely challenging for us. We have had to cope with a number of issues both internally and externally and have been forced to seriously review our modus operandi. We have had a number of deliberations and it was very difficult to arrive at some of our decisions. Nevertheless as leaders we have to take the actions we deem necessary in the best interest of all concerned.
MayDaisy is not a Jamaican organization and we do not operate in Jamaica. Our membership comprises persons from all over the world. We do, however, have a significant percentage of our membership being Jamaicans in Jamaica. However these last months have been very telling for us.
As operators of the club, we sought to share what God has given us amongst our brothers and sisters, including in Jamaica, and for that we make no apologies. We believe in the “upliftment” of our fellow man, but there comes a point when self preservation must come first. We have reached that point.
Until February of this year we have had a relatively successful operation. We are a young company and have had our teething pains and are the first to admit that customer service, specifically communication, has not been our strong point and this was due in part to the rapid growth of our organization. Nevertheless, we have always seen our membership as extended family and have tried to build that kind of relationship. We have maintained significant gains and have always paid our members in a timely manner, and this our members have expressed to us over and over. We have been told of the many ways we have helped and for that we are happy and give thanks.
In every relationship there are good times and bad times, and we expect that in the bad times, those who you stand by, will stand by you. However, this has not been our experience. Let us hasten to add that there are those members who have been extremely supportive and for them we are eternally grateful. However, we have seen the ugliest side of some of the members, and possibly some of the ugliest that could exist in humans.
We operated the club on a referral basis with the view that persons would want to protect their opportunity and be particular about whom they invite. This obviously has not been the case; we do not pay a referral fee, as our beliefs and policies are to share freely with others. But alas, people have begun to hustle off and deceive other people about their gains; we do not charge a fee for entry but again we have seen where members have charged persons handsomely to invite them in; we have had to contend with the malicious things you continue to say about us, and to us and wonder how could something so right be so wrong?
This has been very disheartening for us, as it seems that all the things we are trying to eradicate and put people in a position to rise above, are being perpetuated. All these uglies are coming from the Jamaican membership, and the Jamaican membership only.
We have decided that against this background of hostility and aggression from the Jamaican membership, plus the prevailing climate with the authorities there, that it is really too much to ask of us to continue doing business with this section of our club, as this is near martyrdom, that is totally unjustifiable. We feel persecuted at the first sign of a hitch and, though we have tried, our staff is simply not equipped to manage this level of hostility. No….no more. Hence effective May 30th we are closing out all Jamaican accounts.
HANDLING PAYOUTS
As you all are aware, no institution in the world can withstand large scale withdrawals at once. Hence we have designed a payment schedule that will facilitate all relevant parties. Payments to members will be done in fixed cycles. Each member is assigned to a cycle and payments will only be done in the stated periods for that cycle.
Payout Schedule
Each cycle will have a fixed payout period as indicated below:
CYCLE
PAYMENT PERIOD
A May 30th – June 13th 2008
B June 30th – July 11th 2008
C July 30th – August 15th – 2008
D August 29th – Sept 12th 2008
E Sept 30th – Oct 10th 2008
F Oct 30th – Nov 14th 2008
Within the next two weeks members will begin seeing their designated cycle once they log in to their account.
This procedure applies to ALL payments that have not been made whether in part or in full, and includes both standing orders and adhoc requests. We will make every effort, and have put the necessary steps in place to ensure that these dates are adhered to. Special arrangements are being sought to facilitate full payment on accounts especially for the accounts being closed.
gains ALLOCATION
Gains will be posted at the end of May for both April and May. Any gains determined at the time will be posted to all accounts that have not been settled.
Due Diligence Documents
Documentation submitted subsequent to the status updates will have to be processed prior to any account updates. As soon as this is completed for each account, any necessary updates will be reflected on the account.
Where do we go from here?
Once we have completed this exercise, then we would have completed this initial round of our due diligence and cleanup. The payment cycles will be further refined and new payment modes will be put in place. The remaining members will be later apprised of the plans moving forward.
We must take this opportunity to thank you all for choosing us to be of service to you. For those of you leaving us here, we wish you all the best in your endeavors. For those persons continuing on, we look forward to your ongoing support in building the club we all envisage and are sure will materialize very soon.
(Isaiah 54: 16 – 17)
Behold, I have created the smith who blows the fire of coals and produces a weapon for its purpose. I have also created the ravager to destroy; no weapon that is fashioned against you shall succeed, and you shall confute every tongue that rises against you in judgment. This is the heritage of the servants of the Lord and their vindication from me, declares the Lord.”
God bless you all,
Your Management Team
JANSAW said
ANY THING BOUT HW YET…..OR NO ONE IN HERE IN HW??
Patricia said
COK Buffet Time
J.A. Yute said
PEI, 1253: Dat too long fi post brethren, just wait a little it should be in your e-mail in few minutes. Plus I hate when the detractors here get the info so quickly.
Jay said
DR @ 1250.
It has been reported that the C- receiver manager was being paid US$50K per day. Now he was on the job for 30 days, so he made a serious return on his investment for one months work.
So between stupid lawsuits, counter suits and now the investor fees, so folks really made some good money of all the “jilted” C- investors.
Razor @ Dr.
That is what we are saying, why the fight. Give it up and get regulated , if you can.
Maybe DS know why he chose to or cannot go for regulation right now as his operations is not what it appears to be.
PEI said
JA Yute we dont get those email in olinttci. is that a different one from what they post on the blog yesterday? If different post it please as we dont get them. Dont know why. only overseaslocket seem to get.
DR said
I think CH should just cut the foolishness, and just pay the people them:- since you say you were waiting on an injection:–
I think maybe DS should just stop all the court thing, and just get registered…at least he could be ‘buying time’ like WW…..
Too much money on lawyer fees…..receiver manager fees…..
Maybe MD is making a good decision….CLOSING before any major problems…. no more african lawyer fees…..hmmmm
Is it really true that a certain manager was earning US$50,000 a day?
Observer said
Olint members, you have an important update from Olint.
J.A. Yute said
“O” now has some serious encashment policies. Check your e-mails.
Razor said
Of course there is a secondary but very important issue. If Olint was regulated it would be required to make information like in that email public. Any investor that invested in Olint subsequent to the email/website posting would have the ability to sue Olint and win, if they invested without having knowledge of the policies in the email.
If a financial institution fails to disclose material information before you invest, such as how and under what circumstances money is returned, a client would certainly win a lawsuit. So in fact it is in Olint’s best interest to make such info public.
DR said
“Six Weeks” jail time is nothing to him, Did’nt he spend 10 years in jail in the US. and then when he came out he still had access to the millions….hmmmm think & check
RSI said
Please do not post any verbatim private correspondences here from Olint or any club for that matter.
pete said
Razor your right but it’s publishing the entire correspondence verbatim I think Olint has a case without permission
Razor said
Pete
Do not make this out to be complicated. It is simple. Olint has a financial to client relationship with investors. It is like having an account with Scotia. Scotia is not allowed to make your account or other private information public. If Scotia mails you via email or otherwise your bank statement, you are certainly free to take out an ad in the Gleaner and publish it.
If they say include an insert in the envelope with a new fee sheet, you are free to pass it on to the press. The press can describe all important information and quote from it. There is no expectation of privacy when the financial institution sends a mass mailing to all clients. Publishing mass correspondence by summarizing the important info is certainly fair use. There is some question about publishing the entire correspondence verbatim, governing law in each jurisdiction determines that. But anyone that receives this correspondence is free to summarize and quote from it.
Observer said
Olint members, check your email.
Jay said
Artistes singing Cash Plus woes!!
I am now really thinking, as it appears that more people which had a sizeable sum invested in CashPlus vs so called poor people.
These guys appears to have lost a whole lot of money.
http://www.jamaica-star.com/thestar/20080522/ent/ent1.html
Jay said
Edward Seaga says he has instructed CPPL lawyers to go after Cash Minus to recover money owed to the league.
Seaga the wizard mad or what, did he not read that Cash Minus was a ponzi so where does he expect C- to get the money from pay over to CPPL(CashPlus Premier League).
Eddi should in the mean time recommend a change in the name of the Premier League.
CP said
@Pete
I hope DS or ‘O’ does not take you advice waste any more time & money on frivolous lawsuits. Whether the correspondence is posted in full or in substance the information will eventually come out as people talk. If you want to keep something a secret, you have to keep it to yourself.
Right now I can’t blame Mercury Vapour, there is nothing to hide, it is time to let the truth shine so that the critics in the world can be silenced.
Jay said
Jail time for Carlos Hill.
A judge ruled that if CH does not report all his assets here and overseas by June 16, 2008 he will be jailed for a period of six weeks.
I do not agree with the judge, I think the time should be much longer. What is if he does not, does he walk out after 6 wks.
I do not think he like it there so he may cough up the dough.
This is a positive move however !!
A sure d judge a read mi and others post on this blog
pete said
thats why the fcb got sue by pnp and then again by Colin Campbell dont miss lead people.
If O can track who is leaking info they can by sued
danews said
@ Pete
lets not be sidetracked here. newspaper routinely post internal info , they claim ‘reliable sources’ , the risk the newspaper runs is if it is proven false and they can get sued for libel.
the Trafigura check that was private banking info was printed by the newspaper. this check was ’stolen’ by a bank employee and violated all sorts of banker / client relationship.
we seem to be very selective in what is private and what should not be.
A mass email is not a controlled document.
pete said
I see Jay and his friends are coming back to spread more miss information.
The newspaper company cannot print O internal memo if they place a non-disclosure statement on all internal info stating info can only be reproduce with written permission of olint.
JSM said
POST 1151, TOBE or NOTOBE, Shakespeare, Sorry if that was not Funny.
Anyway, I do not agree with some of your remarks in your post. You stated that you feel sorry for David Smith. Why is that, because he made money from the money that people invested in his Club. Do you think that he did the Club as a Charity and did not make money himself? Come on, get real.
Your other point
“I blame DS for
1. letting people into club who are not investment savvy and really do not have the resources to be investing in such high risk anyway.”
What make someone “investment savvy”.
I pulled my money out and I consider myself to be “investment savvy”. At least by my standards. Stupid I am not. Oh and I do have the resources to invest and take Risk.
Point 2 is well taken. He should have handled things differently when Growth was Occuring.
Your last statement that you hope O survives. If the money was invested and Olint did not have a Loss (???) in the past why wouldn’t Members money not be returned. A Due Dilligence does not Take Money away from a Club. A HUGE LOSS in the Market can do that though.
I have been and Still is an SUPPORTER of OLINT. I want to see the CLUB go on, but at the same time don’t be jaded.
What did Evita Peron say, “Don’t Cry for Me Argentina!”.
Well don’t Cry for David he will be fine.
JSM.
danews said
just a little detail in Olints news. he said persons should not enter an amount greater that first requested, as this would hinder the reconciliation process with the original request.
but would not a less amount also provide the same difficulty in reconciliation ?
CS said
Jay, you are definately what this blog needs, a true comedian. Congrats.
jay said
CP@ 1229.
“it is going to confound you”.
I remember the boss of an “alternative” with the same initial as yours saying the very same thing in Oct/November about his companies upcoming financial(err ponzi) statements last year
.
When we saw their ponzi statements we were.
Overchill said
If it’s been posted on a forum or blog, I’m guessing it’s public knowledge, so they can do what they want with it.
Thats why I find people that post the memo’s online a bit pathetic, because it’s just drawing more attention to the clubs, which is what started all this in the first place.
I guess some people just have to let other people know what they have.
The bling syndrome.
K said
@cp I do not believe a media house under any circumstance can post a memo verbatim from jmmb, ncb or any of those larger financial institutions. Perhaps they can paraphrase or summarize but not word for word or the first few X paragraphs verbatim.
so while I agree with your closing comment about fear and knowing the truth. There are other ways to do so. I would have to verify with an attorney.
danews said
Olint can go in a tailspin if it does not get money to borrow from elsewhere and pay off the people them shortly. if we do not see a schedule and guessing that it may take three months to pay off the people depending on where in the queue they are at.
then a lot of people might also do some pre-emptive withdrawal i.e withdraw from early in anticipation of a three month wait, and thus create a spiral. the only way to restore confidence is to pay promptly.
PEI said
CP beg you one of your sleeping pill
CP said
@jay..you are comic releif. No wonder the driva keeps you on-board.
Olint is NOT HW, CW, MD or even WW. So comparing them is pointless… See WorldWise defying the odds and paying. Watch the Belize move, it is going to confound you…
@k Media house do post correspondence if thy think it is relevant.. It happens worldwide… Nothing to fear, but fear itself. When you know the truth, you sleep well at nights.
K said
@1221
I came across this blog and have been following on a daily basis the comments posted.
I wonder why is it the news agencies feel that they are permitted to print O’s correspondence in a public newspaper. I think this is something DS should really hit out against.
DO you really think they can post JMMB’s or NCB’s correspondence to their customers?
I think not, yet they delight in continuing to do this. In my opinion all they are doing is doing the FUD (Fear Uncertainty and Doubt) game with nothing but a sinister motive.
PEI said
Where’s the dough?
9.So, what happened to the billions the police said their investigations revealed?
http://www.jamaica-gleaner.com/gleaner/20080522/lead/lead6.html
where is all that money for true? it pay out to auditor accountant and lawyer and then people get back nothing?
thats why i say the timetable thing not impressing just start pay people. See WW is paying. people who have account with JMMB getting there money. Super D need to just start pay thats the only way now the only way.
DR said
Post 1224,
Jay, even though I don’t always agree with you, it seems like alot of what you said in you last post is CORRECT.
Add to that, it is said that one trader did not bother to give out a schedule, he just jumped off the Pegasus.
I really hoped that all investors get paid. I even hope that the two Ponzi’s will pay back also.
PEI said
I agree with Jay in a way. The schedule thing dont really impress me right now as is true others do that before. The only way anybody can say mission accomplished is if evry body get back there money. Is plenty people waiting for requests since January some little some big they need there money not promises.
people need to stop get upset when things post because media in the club and posting the email themself so what the big deal. It will come out everywhere.
jay said
CP.
OK lets see.
1. CP provided a schedule to make investors happy and what happened. It was extended time and time again until , C- blew leaving investor CASHLESS.
2. HW provided a schedule to its investors and what happened. Ditto CashPlus above.
3. Ricky Azan blew up US$45M and said it would provide a schedule for investors to repay them in 18months. This one is like watching paint dry, looking looking looking, and nothing seems to be happening.
4. MD has provided a schedule to pay out investors, and some will have to wait until November. Well that should be enough time to transfer all the US funds across various banks so it cant easily be traced. US$7M already transfered to Zambia, expect the rest to go to other “unsophisticated” banking regions.
5. Olint is to provide new club charter and repayment schedule for investors. Some will be cut and they will be told when they can expect to get back their money. Waiting.. waiting , lets see how this plays out.
6. Carief did not even bother to provide one, “dem jus collapse braps”.
7. WW in the process a giving out schedule for repayment of clients with 2k or less. Understand that some are actually being refunded. Will see how this one plays out.
So CP by your reckoning, do you feel so comfortable afterall. Or well, DS have never let us down before so he sure aint go do it now.
You decide, I am just presenting the overall picture as I see it.
Goodluck, you will need it.
CP said
OK Jay you can teach her Ponzi 101… she evidently missed your lessons
Jay, how come you so silent on Olint….? You don’t see that a schedule is now available and your dooms day prophecy is slowing being blown away? have you lost you voice?
jay said
US Laywer outfoxed by the cunning Carlos Hill.
US lawyer files $108-million suit against Cash Plus
http://www.jamaicaobserver.com/news/html/20080522T010000-0500_135863_OBS_US_LAWYER_FILES______MILLION_SUIT_AGAINST_CASH_PLUS.asp
How on earth someone could place some much money in an unregistered, unregulated entity.
Just shows that education does not necessarily make you smarter.
CS said
Hey leaving, why you have to go an post O’s statement? You know that by later today all the new agencies would have done that for you. DS can’t keep any secret no matter how him try. That why he want’s to weed out some in the club. All i want is that when the weeding done, i am still a long lost cousin.
Did the you notice that the date to get the schedule move to the 28th from the 26th as previous said in his may 2 statement?
Let us just wait and see. I am too blessed to be stressed.
Patricia said
DW. I forgive you.
DW said
Yes Ms P,mi did a try hol it down, but now yu see where my sentiments lie.
Patricia said
No worries, DW, watch Barry Long Legs cross the finish line ahead of Billary Balboa LOL!!!
DW said
Ms P,memba the magic numba 2026,which none a dem reach yet…mek de finish line stay weh it dey.
Patricia said
Hey Marsha,
It’s been one of those days..
on REITS, I cant add anything more useful to what Jay and Razor said.
Hey FLORIDIAN!!, dash weh di rope, an’ while yuh ah box dung Jay (nuh lick ‘im too hard duh, as mi tink seh im heart inna di right place but im suffering from a bit of yuteful hegzuberance)
…
yes, so try track dung Miss “illary dung ah Floridah deh roun’ by Boca an’ tell har seh she need fi tek weh har self, cause nuh matta ‘ow shi ah spin it di fuzzy maths naw wuk an’ di en’ game ah come.
deuce said
I checked my JMMB acc. and WW money was present as uncleared funds.
Leaving Babylon said
ATTENTION: You heard it hear first
++++++++++++++++++++++++++++++++++
Dear Club Member
We will resume our encashment request processing on Thursday, June 5, 2008.
In order to ensure that earlier encashment requests are honoured before later encashment requests, i.e., “first in first out”, in the shortest possible time, we are asking for your assistance in this effort
IF YOUR REQUEST WAS DONE BY E-MAIL, BEFORE MARCH 10TH, and you have not yet received the full amount please do the following.
1. Visit our web site at http://www.overseaslocket.com and login by entering your username and password.
2. Under the Navigation Menu click on the option for ‘other activities’
Select ‘Remittance Methods’
Select either ‘wire transfer, cards, cheque, or draft’. (existing remittance option(s) should appear)
If there is no remittance for your selection, select ‘new’ and create one.
3. Under the Navigation Menu click on the option for ‘encashments’.
4. Select the correct account from which you wanted the encashment
5. Next click on the option for ‘new encashments’.
6. In the encashment pop up box, enter the details for any request that were made by email that has not yet been fulfilled.
For the request date entry, enter the day and the month that the e-mailed request was sent and in the Year field enter 2050. The 2050 will act as a code to distinguish your entry as a previously emailed request. We will use this information to trace your original e-mailed request.
7. Members can cancel a previous request by performing the following steps
(a) Under the Navigation Menu click on the option for ‘encashments’.
(b) Select ‘view current encashments’,
(c) Highlight the desired request by clicking on it,
(d) Press ‘delete’ to remove the request.
Please do not enter a date earlier than that of your original email or an amount greater than that originally requested, as this will not only delay the processing of your request but result in it not being processed at all as we would be unable to reconcile it with the original e-mail. The result will be that you will have to renew your request and this would place you further along in the queue. In the circumstances we anticipate and will appreciate your co-operation.
We take this opportunity to thank you for your patience over the past months as we continue to improve the delivery of services to you.
A schedule outlining the Encashment delivery dates will be available on May 28th on our web-site. The schedule will entail request made from 1st January, 2008 to May 31st, 2008.
bigson said
jidith when did you make your request what date
Firecracker said
What is the status on WW? Anyone got their money?
Leaving Babylon said
Marsha – Sorry, but I don’t have any experience with REITs. However there is a phenomenal interest growing toward land development in Central America due to the proposed plans for the super corridor that will connect Mexico thru the US into Canada. I would encourage you to look toward REITs leaning in South of the boarder development – if you have a long time horizon.
Big Up to Texan, who no longer post, but Lewfam is currently paying and has told members that all withdrawals will be honored by June 1st. My take is that Lewfam is a “preferred stock holder” of Olint and are first in line.
Floridian said
From what I hear… The big man them from the banks inna foreign had a meeting with Super Dave and say everything done cook and curry but the new procedures that Olint have to put in place is that they are only willing to handle US$100 million per month in withdrawals…
This one big rush for $300, 400 or 700 million cyaan work as no bank can handle dem breed a request deh at one time…
In effect, I think because of all the delays since Janaury, the request them back up and amount to around $500 million, so the bank them say that them can handle $100 million per month till the $500 million worth of request done pay off…
In my opinion, the reason why the request reach up to $500 million right now is because man like Jay a spread pair panic pon di ship and everybody start get bummy… I feel that once the payouts start to happen and people regain them confidence and Jay get 2 good box and a kick inna him backside, then the $500 million worth of withdrawal might even start get lesser and the bank them might not even have to find $100 million every month to satisfy the withdrawal requests…
Anyway… Is dat mi did hear, so mek wi see nuh…
MoneyChimp said
Floridian,
The good news is that the Due diligence excercise is over. New encashment procedures will be posted on or about the May 26th.
Jay said
On the lighter side. Hey I do have a sense of humour.
Floridian said
Just heard some extremely good news about Olint today, but I’m tired from watching the Champions League Final that my side lost so I will post the info later. Maybe in a few hours or days. Later!!!
Overchill said
1202
The government/banks/FSC has made it so hard for us to get our money, that we now cant get to it to pay the taxes, so I think they really need to go shove that idea.
pete said
waiting
I am wondering how they will determine the payment time-line also.I spoke to someone at their office recently and asked the same question and they could not give a proper answer.
I find it strange some of the MD insiders have gone silent.
I just think other people like ourselves that don’t have friends on the inside need to keep in contact and ready to take action.
Pete
PEI said
Yardman those tax letters have been going out for a while now. A friend of mine got a letter some months ago. He said they can come for the money when they are ready. He is well known by the authorities so we see how that one goes.
DR said
I know I hardly write but that’s because the climate is just too shaky…..
I wonder what the former BackStreet or N Sync Manager was doing…. I wonder if it was trading or Ponzi-ing…..
oops!
http://omg.yahoo.com/boy-band-creator-sentenced-to-25-years-in-prison/news/9263?nc
Yardman On Wall Street said
NEWS FLASH
I just received an e mail from Jamaica, via a Medical Doctor that the Tax Department has started to send letters to OLINT clients requesting taxes to be paid on their profits.
G-Man said
1191
With regards to World Wise funds pass through the company I work for on a monthly basis for final lodgment to ww customer accounts.
I can`t vouch for any other institution but the customers that ww have that saves here are getting there funds.
Razor said
Some factors to consider before investing in a REIT. REITS can allow participation in real estate investing without buying actual properties. Some advantages are you do not have to maintain the property yourself, seek tenants, collect rent etc. Issues related to owning the actual property. So REITS may afford a way to get many of the benefits of real estate investing without many of the headaches.
REITS can also be good for those that need a stream of income. The monthly yield (dividend received calculated similar to interest) is often higher than at a bank but is not guaranteed.
REITS usually own properties like apartment buildings, commercial buildings like hotels and office buildings etc. They pass through the income after expenses to the REIT shareholders as dividends.
Other factors: Does the REIT own a diversified group of properties? If only one property, what if a problem develops with the tenants in that building. Or the property values in that area decline etc. Not enough diversification subjects the REIT to property specific risks.
Ownership of the REIT stock is subject to capital appreciation or depreciation of the stock. The more attractive and reliable the dividend income the higher the stock price is likely to go and vice versa. The stock price may also rise in tandem with the rising value of the underlying owned properties or vice versa.
Bottom line is that REIT can be very attractive to own. They can provide real estate market participation without the headaches of property ownership. However not every REIT is created equal and investment risk includes REIT specific issues and real estate market conditions risks, these can affect the stock price. Long term Income is not guaranteed and property or portfolio and other market issues can affect income as well as the stock price.
Marsha said
Jay,
Thanks for the feedback you provided.
Waiting said
For MD members
Does anyone know what determines which group you will fall into to be paid?
jay said
Well,
You will have to determine if its the best thing for you at this point in time.
I spoke with a investment advisor yesterday and this was the response I got.
1. The pay back could be very long, do you want to wait that long.
2. Its very new, investing in IPO’s are very risky.
3. Wait for it to list on the JSE, track the movements for a while then you could decide if you want to go in.
4. If you have cash to spare and not expecting cash flow from this to suppliment your income, you could give it a try. Remember that this is long-term investment and so you need to invest with that in mind.
My Views.
Every IPO with the exception of SVL in Jamaica has taken off at least for the first month then fall back, sometimes very badly (MIL).
Market timing is not a good way to invest.
Bottom line, its your call considering all the factors presented.
carleena said
jahbilly 1192.all now mi nuh get mi money. from the 25th of april.
RedP said
Jay 1186
Thanks for the info Jay. Question. So many things can affect a real estate market. do you think that investing in a REIT would be wise?
RedP
jay said
Marsha@1187.
Minimum of 10,000 units and multiplt lots of 100 thereafter.
Here is the link with all the details.
http://www.carltonsavannahreit.com/
Click on prospectus.
Judith said
I received funds in my JMMB account yesterday from WW
jahbilly said
1190 Carleena
Yu nuh dun post say yu close yuh account. Did yu get yu money?
carleena said
Heard the FSC said WW might be broke. power 106 news are ppl getting their monies for real..
JK said
WW customers with jmmb ac have started to recieve
carleena said
What is going on at WW.is there any one that get monies lately. and do they have the money to pay. can any one shed some light.
Marsha said
Thanks Ms. Patty!
Yes, can you provide some feedback on REIT? Jay, Leavin Bab or Jcan please feel free to chime in. Or anyone else for that matter. I checked out the link for Carlton Savannah but could not find the minimum to invest.
Regards,
M
jay said
Red P @ 1181.
In a nutshell what we have here is a company who has bought a property(Real estate) and who expect to have a steady income stream from rental of these apartments.
They have sought to package the Asset ( the apartments) into a security in the form of shares, which is being offered to the public.
The return you make from the purchase of these shares will be paid out as dividend and will be (in this case) equate to 65% of the income that CarltonSavannah REIT gets from the rental of the property ( 12 apartments).
The rate is fixed @ 6.5% per annum in (us$) for the first two years.
They plan to list on the JSE, so the shares will be able to be freely traded, and their is the possibilty of stock price appreciation, as well as depreciation once trading starts.
Now this is a very first for Jamaica.
Notes of caution.
1. No other product like this to benchmark against.
2.The property is not yet completed, but should be in June.
3. The performance of the property is contingent on the performance of the T&T economy which is growing. Real estate prices have been averaging 15% over the last 3 yrs. So the question is are we getting close to the top.
4. We only have proforma financial statements. These projections are based on 3 above.
5. There is no historical data, on which to base your investment decision ie profits etc. We are dependent on Mr Williams experience at JMMB to assure us that there is good management in place.
6. We have no idea how the REIT stock will actually perform once listed.
7. The payback on your investment could be pretty long (6.5% pa), if it does not perform on the stockmarkets.
In summary, note the pros and cons.
For more details on REITS, visit this website.
http://www.investinreits.com/
PS. They sale of the shares in the REIT is what is going to be used to finance the purchase of the property, which is not very uncommon.
RedP said
FYI, Building steel and merchant bars just gone up again. Thats 2 price hikes in 2 weeks making it the 8th or 9th time since the start of the year
In Nov/07 distributor price was 54k/ton it is now 95k/ton. That is almost an 80% increase in 7 months. This is depressing.
RedP
Devon said
Dave Says: “PEI your an idiot. How did you get being a ponzi out of that is amazing. Their audited.”
Dave
Have it ever occurred to you that PEI was just being sarcastic? i.e., essentially poking fun at the detractors who think that any high rate of return have to be a ponzi. Hence your label of PEI as an “idiot”, extreme!
PEI said
Laawd Massa dave I know me is a idiot but you dont see is joke me joking. We are too tense. Me just saying what Jay and them want us to believe cause left up to them just about anything that not paying 6 up to 12% a year is a ponzi
RedP said
BTW, any of you local ppl had any dealings with NROCC and Hway2000? How did the dealings go? Were you fairly compensated?
My business is going to be adversly affected by the Linstead Bypass to Moneague toll rd and I’m just entering into negtns. with them. Can Ivan Anderson be trusted??
RedP
RedP said
Good Morning Ppl
Leavin Bab, Patricia, Jay,
What exactly is a Real Estate Investment Trust? How does it work? How is it structured? How is it able to pay a return?
Looking forward to your reply, Thanks
RedP
dave said
PEI your an idiot. How did you get being a ponzi out of that is amazing. Their audited.
Andrew said
To: Jcan
That Coco tea video is pretty cool, did you notice they have a dancehall version aswell?
http://jamaicansmusic.com/index.php?option=com_hwdvideoshare&task=viewvideo&Itemid=78&video_id=947
AJ said
that radiojamaica.com link i cannot get to work. is there another site?
CP said
Government prosecutors have begun marshalling evidence in the trial involving the National Commercial Bank (NCB) which is accused of breaching the Money Laundering Act.
http://www.radiojamaica.com/content/view/8278/26/
TOBE said
For persons who have wachovia stocks have alot to lose if the stock goes down. Persons who have cash and trade like DS will be OK. Unless the bank declares bancrupcy, then they will have to settle cents on the dollars. Butr Jay if you look at wachovia financials they have alot of divisions. If they get cash strap they can sell of some divisons etc.
Wachovia is one of the 3 largest banks in the US. The feds there ain’t gonna let anyone lose their cash. the stock price may fall( thats what you get for speculating) no diffrent from forex, just less riskier.
TOBE said
1167 jay it does not neccessarirly mean anything for olint. wachovia has many divisions. what cramer is saying is that has a company it may be acquired by another company. I listen to cramer everyday on mad money and he has been known to make mistakes he is not god. Fast Money is better because they have a panel of guys and gals that give their opinion. I also use alot of statistical modelling like bolinger band, eps, candlestick when I am making a decison about whether to buy or sell.
I spend my afternoons and weekends doing a lot of research as well as calcultions.
jay said
More Cashless news !!
A pyramid of woes – Cashless Cash Plus and its 45,000 investors trapped
http://www.jamaica-gleaner.com/gleaner/20080521/news/news1.html
Net Worth said
PEI
How is the CBM FX Fund performing this year ?
Mercury Vapor said
Did everyone read the article in the Jamaica Observer about Cash Plus?
“CASH Plus Limited only had J$3 million in cash at the end of March this year, according to the receivers of the company, and based on its assets, which was estimated at J$4 billion at March-end, will only be able to pay a maximum of 16 cents on every dollar owed to its creditors.”
http://www.jamaicaobserver.com/news/html/20080519T220000-0500_135805_OBS_CASH_PLUS_BROKE_.asp
Patricia said
Hey Marsha…we will never join the dark side !!!
…That was cool!!
Marsha said
And another one…..
Everybody needs a little humor. Enjoy!
Jcan said
Just for fun
http://jamaicansmusic.com/index.php?option=com_hwdvideoshare&task=viewvideo&Itemid=78&video_id=1142
pete said
Driva is there a reason we can’t access and view the ARCHIVES ?
Mercury Vapor said
Cho! Dat a no nottin! Di bwoys dem at Zone Capital FX did 245% in 2005 den 40% in 2006! Cho man!
Unfortunately, to put money with this Australian forex trading outfit you’ll need to invest a minimum of U.S. $100,000!!!
Jay said
Wachovia’s Golden Days Over ?
http://www.thestreet.com/s/cramer-wachovias-golden-days-over/video/cramermarketupdates/10417557.html?puc=_txtmdb#10417557
What does this mean for Olint, if anything.
PEI said
DAVE you say -
i know in 2006 the CBM FX FUND Did 108% compounded and in 2007 it did 96% compounded.
What!!! that mus ah ponzi
dave said
my contact is mario at capital blu his email is mgarza@capitalblu.com for any info. they have a questionaire to fill out from the nfa. i know in 2006 the CBM FX FUND Did 108% compounded and in 2007 it did 96% compounded.
waiting in the wings said
If the early announcement by the police that cash plus had so much money everywhere on teh freaking planet how come it dwindled to 3m cash and 4b assets. it seems fishy. truth is carlos hill although on bail can still communicate to the people who give their money remember how him sunday gleaner announcements used to look wickedly impressive aah bwoy those were the days. anyway im not laughing case may D have money fi mi and no word yet. The problem withthese alternate schemes is that the operators feel/felt like they are doing people favours and hence can stop and start as they please and although we know is high risk it never say high diss. case in point Ingr L of MD fame.
i heve seen where ppl on this blog discuss the need for transparancy in these clubs and i agree that we should have it but then again we are feeling like we have we hand inna lion mouth so we best keep quiet lest we suffer. but transparency cant be a bad thing.
More time
jay said
Yes Devon,
just about 3700 persons made of with over $15b dollars.
Now the way out is for the receiver to do the following.
1. Demand that all investors who made a “profit” pay back all that money.
2.If they refuse to pay, sieze the assets they used the money to purchase, sell them and place funds in the pool to place those who may have lost.
Then they police should offer CH a carrot.
Tell us where all the stolen funds were transfered in exchange for the following.
1. He retains 25% of the “funds” in his accounts.
2. He walks, no jail time.
“Investors would have a 75% claim on all his accounts.
If he refuses.
Jail time no less than 20 yrs with no chance of parole before 15yrs. We want to make sure that should he get out he will never be able to spend any of the money he has hidden all over the world.
Devon said
Jay @ 1156
Did you miss the part where it stated that 70 % of the “loans” was paid out in interest payment? Look, at 10 % per month, the interest payment gobbled-up close to $15.4 Billion and the rest went for salaries/other expenses/deposits, on such things as the Hilton, etc. If none of the 3 or 4 entities are generating positive cash flow, it is quite obvious where the money went.
JK said
its because the news of c+ being broke
PEI said
BIG CROWD AT WW TODAY. People wanting there money. on the power 106 news
PEI said
That post at 1157 was for David Smith and his workers and club members.
PEI said
one time Mercury post that we should email him some good words
I think it must be hard for him if all he is hearing is that he is a conman and running a ponzi. This poem for him and all his workers and club members
“The measure of a man is what is takes to make him quit” – Jerry Falwell
Don’t Quit Poem
by anonymous
When things go wrong, as they sometimes will,
When the road you’re trudging seems all up hill,
When the funds are low and the debts are high,
And you want to smile, but instead you sigh,
When care is pressing you down a bit,
Rest! if you must; but don’t you quit.
Life is queer with its twists and turns,
As everyone of us sometimes learns,
And many a failure turns about
When he might have won had he stuck it out;
Don’t give up, though the pace seems slow;
You might succeed with another blow.
Often the goal is nearer than
It seems to a faint and faltering man,
Often the struggler has given up
When he might have captured the victor’s cup.
And he learned too late, when the night slipped down,
How close he was to the golden crown.
Success is failure turned inside out;
The silver tint of the clouds of doubt;
And you never can tell how close you are,
It may be near when it seems afar;
So stick to the fight when you’re hardest hit;
It’s when things seem worst that you mustn’t quit.
jay said
Oniel@ 1148.
I thought you needed facts, now you have it.
Confirms our suspicions all along on what C-, really was.
I am in no way feeling good about this financial disaster.
The big question really is if only 1.4B of the 22B which CH received was paid out in the ponzi,
what has happened to the remianing $20.6B.
That is a lot of money, so where the hell is it.
The fraud squad have “dem wuk cut out”.
Overchill said
Dave, do you have more info on the products and rates? I dont see much on their site.
dave said
1107 oneil
CBM FX FUND DOES NOT MAKES LOSSES. CALL CAPITAL BLU AND QUIT STATING UNTRUE STATEMENTS. CBM FX MAKES LOSSES CAUSE OF AUTOMATION BUT CBM FX FUND WHICH IS A REGISTERED POOL WITH THE NFA DOES NOT.
HERE ARE THE PRODUCTS
FOX- poa fx options account which did like 22% last month -no losses
COMMANDER- poa accounts -no losses
CBM FX ( which is offer thru many banks and gets charge stupid fees so they make money as much as 10% per month on top of the turn which show negative months) -losses
CBM FX FUND- which is the large hedge fund that – never had losses
PRO FX ALERTS WHICH IS THEIR SIGNALS
unreal_investor said
TOBE, O will surely survive, I am 100% positive that all who want their money will get it. I can’t wait for them to reduce their member size, plenty people who in O shouldn’t be. DS knows who he is looking out for, hence the battle with NCB, not the rich but the poor who after paying 32US$ wire transfer not going have much left to live on. I love the saying often used on this site, ‘tek weh yuh self’ and don’t come back to O.
Long live DS, long live O…
unreal_investor said
Well I know for a fact that O will survive and all of the people who want their money will get it. All of the members that had no faith or took the advice of Jay/jason/nocotec, and the rest of the detractors and put in request for full disbursement will get all their money. Sometimes if it walk like a duck and quack like a duck, its not a duck. I think some of those detractors going loose some friends when they cant get back into O after pulling out. GOOD RIDDANCE TO BAD RUBBISH I SAY, stick to your traditional investment institutions and don’t whine and complain when you loose your money in stocks, or you get below inflationary interest rates at the banks. I like the saying often used on this blog, ‘tek weh yuh self’ and don’t come back to O.
Long live DS, long live O…
TOBE said
Oneil financial statements can also be fudged.
think of enron. Today I do not even think about it without losing my breathe.
TOBE said
cs
I know alot of people who in O who request most of their money back. They are waiting until june 1st to get their money. The new charter may not save the club because most people confidence are broken…. with whats happening with the Ja Gov’t and the banks.
I thinks it sad…whats happening I can imagine how sad DS is feeling, after he put blood sweat and tears into a something and have it battered and tossed aside.I think he probabaly feels betrayed by most of its members whom he has helped..
I blame DS for
1. letting people into club who are not investment savvy and really do not have the resources to be investing in such high risk anyway.
2. Structure his organization in a more proffesional manner after he realized the growth was occurring
3.Seek compliance from the Jcan Gov’t or just have his members open offshore bank accounts from day one, supply them with debit cards etc. Instead of relying on the local banks.
I hope O survives cause alot of people have alot of money to lose.
Devon said
JK @ 1133:
You might be right about your hypothesis. However, based on the WW registrations numbers, it would appear that WWP was formed before WWI. Also, WW website seems to indicate that WWP (Antigua)is the Forex Trading entity.
CS said
Re @ 1144
O’s charter suppose to be May 26th. Let’s wait and see what happens.
Oneil said
re 1145 Jay
U need a receiver manager to confirm the obvious. Cash plus was a ponzi, no shit,this was already determined from their published their financial statements. More liabilties than assets, no sustainable cash flow to pay such returns
I guess Jay/jason/nocotec, u r happy now its confirmed, we know uR not concerned for those who wont get their money.
High returns dont necessarily equal to a ponzi, rather financial statements do. Only when i see financials, then i can make a judgement, till then its all speculation.
Real estate cant pay 10% per month, its long term investment, that was obvious to me from day one, thats why i never touched CP.
FuzzyOriginal said
Thanks to all the contributors on this blog. I was in Vegas a little R&R for 5 days and it took me a long time to catch up. The people were pouring their hard earned money in the slots, black jack, roulette, poker, etc. So hard for me to understand how people can spend their hard earn money like this. Some of the people look more hopeless than hopeful.
I think I will take my chances on forex. You get the thrill while your odds of winning is better. Of coures we always have to diversify.
Jay, I think you miss your calling. You should probably have attempted the political arena also. It appears that your heart is in the right place. Even after we have kicked you around, you are still there for us. Thanks all. AT times too busy to post, but always read. There is alot of knowledge on this blog.
Again, thanks all for keeping the information flowing.
A good ting say me did go a katolic school.
Jay said
Receiver confirms that CashPlus is CashLess and was a Ponzi. !!
This is the biggest ponzi scam in the history of Jamaica.
Over 70% on intake was being used to pay early investors.
This blows out the water the common theme that it was ” the FSC, Lee-Chin, bad man detractors, and big dem dat mash up CashPlus, err Cash Less, err CashMinus.
See a excerpts of the Receiver Manager report here.
http://www.radiojamaica.com/content/view/8247/26/
Think before you act
PEI said
can any body say if there is any word on O new membercharter? dont we suppose to be getting some word by nowon the changes and so on.
Jcan said
Catholic Horse
One day while he was at the track playing the ponies and all but losing his shirt, Mitch noticed a priest who stepped out onto the track and blessed the forehead of one of the horses lining up for the 4th race.
Lo and behold, that horse – a very long shot – won the race.
Before the next race, as the horses began lining up, Mitch watched with interest the old priest step onto the track.
Sure enough, as the 5th race horses came to the starting gate the priest made a blessing on the forehead of one of the horses.
Mitch made a beeline for a betting window and placed a small bet on the horse. Again, even though it was another long shot, the horse the priest had blessed won the race.
Mitch collected his winnings, and anxiously waited to see which horse the priest would bless for the 6th race. The priest again blessed a horse.
Mitch bet big on it, and it won. Mitch was elated. As the races continued the priest kept b lessing long shot horses, and each one ended up coming in first.
Bye and bye, Mitch was pulling in some serious money. By the last race, he knew his wildest dreams were going to come true. He made a quick dash to the ATM, withdrew all his savings, and awaited the priest’s blessing that would tell him which horse to bet on.
True to his pattern, the priest stepped onto the track for the last race and blessed the forehead of an old nag that was the longest shot of the day.
Mitch also observed the priest blessing the eyes, ears, and hooves of the old nag.
Mitch knew he had a winner and bet every cent he owned on the old nag.
He then watched dumbfounded as the old nag come in dead last. Mitch, in a state of shock, made his way down to the track area where the priest was.
Confronting the old priest he demanded, “Father! What happened? All day long you blessed horses and they all won. Then in the last race, the horse you b l essed lost by a Kentucky mile. Now, thanks to you, I’ve lost every cent of my savings – all of it!”
The priest nodded wisely and with sympathy. “Son,” he said, “that’s the problem with you Protestants. You can’t tell the difference between a simple blessing and last rites!”
JK said
dw: im wondering if i can afford to put 5000 at risk
1500 was bad an nuh so bad but 5000 is a bit of a stretch
DW said
JK:
likkle bit….
Jay said
Carleena @ 1138.
The shares are being offered in Jamaica dollars and interest payments are made in hard currency.
May not seem very attractive to those investing in forex paying 6% per mth
For the Jamaican investor, however he makes hard currency on his $J investments and with the the continue slide in the dollar he gets currency appreciation .
Not sure about the taxation, just reviewing the prospectus.
The company and the product are registered and licensed by the FSC and well as the JSE.
Get your copy of the prospectus here.
http://www.carltonsavannahreit.com/downloads.php
carleena said
What do you all think about [REIT],REAL ESTATE INVESTMENT TRUST,offers 6.3% a year.buy $1000us worth shares get $63us in one year..any one know anything…
JK said
cool so u feel safe?
DW said
Some ppl making arrangements to get there money,I do feel that these ppl are ones with smaller accounts, never had time to check on gkard.
itfp said
Hi TOBE,
Re 1031 – You mentioned that you invested in some HYIS in Canada as well. Can you provide the names of some of these clubs?
JK said
but are ppl geting their money? wat of the gkard?
DW said
JK:
Went to WW today,saw a few ppl on the outside of the gate and others on the inside under a mobile tent,didnt seem as though there was much choas therefore I decieded to keep my account open.
Jay said
Island Girl @ 1130.
I have no investment in high risk products such as forex hedge funds. I must say however I have a forex demo account I have been trading for the past 5 months, to get a better handle on how this truly works.
My investment strategy is as follows.
75% of my portfolio in stocks
15% in Tx free long term investment account
5% in GOJ Bonds
5% in money market accounts.
Not financially free as yet but working towards that, with the above strategy.
JK said
here is my hypothesis on the WWI and WWP thing
well from day one while reading thru the terms i noticed these 2 names ……i made sure as to go thru the contract with a fine tooth comb thats when i saw the 2 different names wwi and wwp
worldwise investment was probably initially initiallty started …..but because of the “investment” name their lawyers probly said no u definately would have to be registered to conduct business with a name like that and tried a “partnership” approach instead……….so they adopted the partnership part so as to try and get round registration.
but with the whole cashplus case as preciedence the so called ‘loan’ from customers was there by defined as collections of securities. so they now decided to use the investment name again (which was probly the orginal name they wanted to use and what i noticed on the early sight) and register under WWI since they would now be a investment company.
THIS IS NOT FACT THIS IS JUST MY HYPOTHESIS DONT TAKE IT AS REALITY
Jay said
News just in on C+
Almost no cash found!
Only $3m found in all accounts.
Over $4b in assets found however. These are mainly fixed assets, building and land.
These of course are not very easy to convert to cash. Now I am not sure if those are book value or force sale value.
In any event they may have to be sold at a discount to get rid of them further, providing less money to repay “investors”.
Stay tuned.
Island Girl said
I think its true that many probably need to learn about diversification and asset allocation. As “Mercury Vapor” said invest in low, moderate and high risk. Most wealthy persons take risks and that’s how they become wealthy, most generally do not become wealthy working in a job only.
Jay, I am curious – do you invest in any high risk investments? If yes, what are they and why did you choose them? Are you financially free like TOBE (proud of you
)? What is your typical investment strategy (bonds, stocks, repos etc)?
There are some things Jay says I agree with and some I disagree with. I definately think diversification is good and investing a portion in high risk is good for wealth creation. I think one should educate themselves before plunging in high risk or any other type of investment.
Roli said
@1122 . PERFECTLY SAID. To stop people pooling to get into these clubs, a payment stub and also bank accout activity should be shown
Mercury Vapor said
Follow Up to Post 1122
Bwoy the whole thing is so problematic…when I think about it. When a poor man hear that his friend in a club and they paying him 10% a month, him look at his little savings in the bank earning 8% a year and him say to himself “No sah, mi cah leave mi money inna di bank! Mi haffi try a thing!” So, he puts ALL his money in the investment club in the hopes of earning the 10% a month. Now if the club consistently makes the high returns everything is fine. But if the club makes a large loss, or a complete loss and collapses then it can be disaster.
Unfortunately many poor Jamaicans know little about investing…if you tell them about diversifying and asset allocation…dem look pon yu like yu a talk Spanish to bloodc@$%! Many don’t understand that you need to have some money in bonds (low risk) some in stocks (moderate risk) and then a little in high risk invesments. This lack of knowledge, or maybe education, is causing a lot of problems.
RedP said
Anyway guys the discussion has been great, I’ve just moved and dont have internet at home yet, will check in on wednesday.
ciao for now my friends.
RedP
RedP said
Merc vape and Jay,
You have valid point but dont forget that whole heap a people did tro pardner to make up for C+ and others. There is a very large majority out there who could lose 20k JMD and survive and yu will probably find that ppl will do the same thing if/ when things are legit and there is a high buy in.
RedP
jay said
Red P @ 1123.
Its not the oil that has made Trinidad who they are my friend. Its the shared vision by the people.
Jamaica has bauxite but how do we maximize the returns from it. Fact is now we cannot as we have sold “forward” tonnes of the mineral and with the surging price on the world market we cannot benefit.
Why is this the case, haha lack of vision.
Guyana
This Caribbean/South American country is one of the richest in the caribbean in terms of mineral.
They have bauxite, gold and diamond. Where are they in terms of economic wealth.
You guess, scraping the bottom of the barrel.
Nigeria.
Currently the one of largest producer of oil in the world and have the 11th largest reserves of natural gas .
With oil prices constantly on the rise one could reasonably assume, that Nigeria would be awash in oil money. Well that may be so, but it’s certainly not reaching the masses.
As at April 2005, the poverty rate in this oil rich nation was a staggering 70%, which is truly unbelievable. This is not the only shocking piece of information, as it has also been reported that only 40% of the population has electricity.
The point is its the shared vision that brings it all together.
How about, Cayman, Bahamas, TCI, Bermuda, Barbados.
What natural resources do they have, and what is the state of the economy and the economic well being of the people.
Check it !!
jay said
Mercury Vapour @1122.
You are right on the money ..
How many persons who have been chasing their “dreams” have lost money in HYIP.
These high risk investment are really for the wealthy who have higher risk tolerance level and who genuinely can afford a portion of their investments
Now I am sure someone is going to accuse me on “not wanting d poor man to eat a food”, but nothing could be further from the truth.
RedP said
Jay 1120
Jay, vision is one thing and the most important but dont forget that Trinidad has oil and brought in heavy US oil industry investment from a long time ago. The first time I ever heard rock music was when I lived in TT from 78 – 80. The US influence was heavy there.
Having oil deposits makes a big rahtid difference and I dont think you can quite compere the two countries in this regard.
Personally i think that Golding has a vision but that his hands are tied. He needs to take a page out of PJ’s book- THE LAW IS NOT A SHACKLE!!:)
RedP
Mercury Vapor said
Re: 1117
RedP, I hear what you saying brother, but we must also think about this…forex trading is a high risk investment. In fact, it’s not even an investment, it’s speculating! It seems that the government doesn’t want any of these forex clubs to be regulated…I don’t agree with them but I understand why they might not want this. Most of the people that live in Jamaica are poor, they don’t have any money that they can afford to lose. Yet, many Jamaicans have been pouring a whole heap of money into these clubs. Everyone wants these super high returns and many people have invested more than they can afford to lose…some have also borrowed money to invest…for example, taking loans against their homes.
The government doesn’t want tens of thousands…or hundreds of thousands of poor people to lose their money in these high risk investments. That will lead to even more suffering, and desperation among people. I think the government…and this seems to be where it’s going…only wants the rich to be able to invest in forex trading. The people who could afford to put U.S. $25,000 in Ricky Azan outfit…that’s the “crowd” the government wants to be investing in forx trading. Those rich people who can afford to lose U.S. $25,000 or $50,000. Those people are business people…dem own offices and factories…they can absorb those large losses. The likke man on the street that have to hustle everyday can’t afford to lose even U.S. $1,000! So, the way things going, I think forex trading will eventually be only something the rich in Jamaica can invest in. Poor Jamaicans won’t be allowed to put money into this “game” and that can be…well…good or bad, it depends on how you look at it. That’s my current thoughts on the matter.
Peace
RedP said
Patricia 1118
Pat mi luv yuh but I really hope that for the sake of this beautiful country that you are wrong.
RedP
jay said
Red P.
Without vision the people perish.
Jamaica is in the position its currently in, because our leaders have no vision for the country.
The people in our Country have no shared vision, so there is nothing that as a people we are working towards.
Look at T&T.
30 yrs ago the Late Eric Williams had a vison for the country.
1. T&T will become the industrial capital of the caribbean.
That was the vision, it was one which was shared by the populace so whoever became the PM of the Country, the vision was there and would not change.
The path, policies and regulations to achieve this would change, but the vison remained steadfast.
Where is T&T today.
Brazil.
After the oil crises of the 1970’s Brazil vowed never to let this happen again, and they would become self sufficient in oil.
Today Brazil does not have to import one barrel of oil from anywhere. They are currently the largest producer of ethanol in the world, and they do also have some amount of oil.
A couple years ago Brazil was a net borrower from the IMF. Now for the first time Brazil has become a net lender on the international market place.
Jamaica.
1. What is our shared vision ?
2. Where would we like to see the country in 10, 15, 20 yrs ?
3. What path do we plan to take to get there.
4. What are we currently doing in order to achieve the vision.
Words without plan and actions are just that, words which will lead us nowhere.
Lets check ourselves as right now is ” Dog eat Dog” and ” every man fi himself”.
This term ” Man haffi eat a food” is destroying the very fabric of what is left our our decaying society.
The worst part about it is some folks dont see or smell it.
Guess what, when you get to smell it your are too “damned” close.
unreal_investor said
The gov’t sell us out to IMF for 10 million USD loan to r@$$, if them just did easy off of Olint, them wudda mek that in one month of tax from olint members alone, much less, CPL, WW and MD… We need fi start linch gov’t officials fi get change. Well that nah happen so Jamaica days dark…
Patricia said
RedP, ah tell yuh ahready that they gwine turn out to be di biggest NYAM and SCRAM yuh eva did see…watch it!!
Watch and see there will be no regulatory changes to facilitate these kinds of entities. FULL STOP. However, under the existing laws, NCB Capital Markets, Scotia DBG, JMMB, and others will be able to offer similar products to “accredited investors” only. Look out for more entities setting up shop in Cayman.
Talk ’bout trikkle down,… what is that??? dont you know that all that must trikkle down is BLOOD, SWEAT AND TEARS???!!
Redp said
TOBE 1116
I’m sorry, but I have to agree with Mr. Perkins when he states that it is better that a house wife in trench town can afford a bottle of champaigne. I am sick and tiered of seeing sufferation in this country and just because of ass backward laws somebody who can make a positive difference in ppls lives is not legally allowed to. Go figure.
Is it not better that the general populace has more spendable income? I can attest to the fact that with the move against the clubs this year that my business has dropped 40 – 50%, ppl I know in retail say that the current situation is almost like the finsac days. Now consider this, If my income is reduced so are my income taxes resulting in less revenue to run the country, If I have to rotate staff because I dont want to lay off anybody their spendable income is less. I honestly believe that the powers that be have not thought things through properly and the spinoff effect is dramatic.
Times are hard enough as it is and the gov, banks et al need to get off their asses and do something to alleviate the situation for the betterment of us ALL.
Ppl dont really realise the spin offf and trickle down effect that the clubs had. Ppl buy car, fix house etc., now, NUTN NAH GWAAN. We gawn back to PJ days. Kiss mi ratid. A fedup to blow wow.
RedP
Mercury Vapor said
For the bloggers here with BIG BIG MONEY to invest, you may find this website useful:
http://www.autumngold.com/Advisor/CTAProfile.php
TOBE said
overchill and red P
I think jamaica will never be better because we a country of status quo.
1.The upper crust only want to keep and maintain their position.
2. the goverment want to keep their grip on the people
3. We envy each other.
Look at the cayman, antigua, TC and the bahamas. they have no significant resources but they casino gambling and offshore banking.They are doing quite well.
Ja like to say we are a christian country….lol…where? But we have the most crime and corrupt politicians.The politician use the christainaity angle fi keep di people inna check. Might as well we legalize some of those deadly sins cause wi dun bad aready.
TOBE said
curves I have to agree with the rest of the gang in this instance. Too much legal hassle and uncertainty being experienced by the clubs. I would suggest you watch and see whats happening in the month of june.
Overchill said
I dont think they want any developing country having their own source of income. If that happens, who are they going to loan money to?
RedP
Why is the IMF talking with that there accent?
Floridian said
Curves… Although a lot of us might not always agree with Jay and his advice, in this instance, I think he has given you very good advice… It is not in your best interest to start investing in MD or any of the others at the moment.
When is a good time you might ask?… Well at the end of this month, depending on some promises that were made being fulfilled or not, you will be in a much better position to make a more informed decision.
Like one of the posters said several days ago… Sometimes it is better to be a bench warmer and sit on the sidelines and watch the game before you jump in and start playing.
RedP said
IMF only want to crush the clubs because black man no fi have nutn. They do not want to see Jamaica being independantly wealthy.
Ey bwoy, a who you?, get back in line an tan deh so, unu fi hold yuh corner and gwaan beg fi bread. Likkle black bwoy who you tink unoo is? Unoo tink yuh really cyan have cris cyar an boat like di big man dem? Who yuh really tink yuh is fi believe yuh can live dem deh life deh?? A gwine beat unoo back into yuh mental slavery!! Gwaan go look fi Massa Leaching an beg ‘im fagibness an leff dat deh dutty bwoy Smith alone!! yu ah ear wah mi seh to yu??!! Awoaa!!
A so mi see it anyway
RedP
jay said
Curves@1108.
I suggest you keep your cash where it is, and NOT and I MEAN NOT, place it in MD.
Read the blog and you will find out why.
Oneil said
re 1108
Curves, yuh better keep u money before u go start fret and lose u curves lol
RedP said
Hey guys, whaddup?? you all have been busy I see. Just remember, Trust God and live!!:)
Still waiting, hopefully not much longer.
More Time
RedP
Curves said
Guys:
I need a referral to MD …can someone contact me curvycurves1b@gmail.com. I’m in the US.
Thanks
Oneil said
1106 DAVE
Correction capital blu cbx fx fund does makes losses, they simply just make more profits than losses within a given month.more good trades than bad trades, it all depends what periods u are comparing
dave said
If you are investing with CAPITAL BLU invest directly with CAPITAL BLU not thru any third party like Altrava etc. there are 100’s of companies that offer
CAPITAL BLU because trying to get in with Capital Blu is hard because of all the qualifictions you have to have. Plus the third parties charge as much as 10%
per month fees. CAPITAL BLU hedge fund has never lost money in four years but you have to have 100k in invest just like any other big US hedge fund. Anyways,
CAPITAL BLU has many products but i think the hedge fund which is call the CBM FX FUND is the best one, it never had a lost. TO GET THE CBM FX FUND RETURN NUMBERS
YOU HAVE TO CALL CAPITAL BLU. I know all this because i have an account there. Plus i have an account with OLINT and they operate totally different. CAPITAL BLU operates like a
bank.
jay said
Devon @1102
Actually there is a third part, which involves obtaining a license from the BOJ.
Any company that does business in that deal is forex Jamaica need a forex dealers license ie something akin to a cambio license.
As far as I am aware WW has also applied for that.
I am pretty sure that its WW Investments that have made the application and not WW Partners for the above.
I have a problem with this entire fiasco however, as it is very clear that something is wrong here.
If WW and the FSC has in fact been in discussion, how could it be that the “wrong” entity has applied for license from the FSC.
Or is that both should that should have applied.?
Anyone have any more information here?
DR said
Leaving Babylon – the fight is “David vs The WOLF”. ha ha
Patricia, I am still around but I am just patiently waiting on my garden of Daisies to bloom… I hope to be in the First Batch.
Blessings to you all,
DR
Devon said
Jay:
There are two companies registered with the office of Registrar of Companies in Jamaica:
1. (74893- Company Number) WORLD WISE INVESTMENTS LIMITED
Investments
2. (74474- Company Number) WORLD WISE PARTNERS LIMITED
Legal Investments
What Roper is saying is that company No. 1 has applied for a license and/or registration of their securities, while company No. 2 has not. It appears that the Forex Trading or the investment activities are being done under Company No. 2.
In essence, Roper is saying that maybe the company that really should be seeking the license/registration should be Company No. 2 or maybe both!!!!
Again, in the overall scheme of things, there are two parts to the process…(a) registration of the securities (Forex Contract)and (b) the licensing of the entity. Do you know if both were done for Company No. 1? Of course you could use a licensed third party to accomplish (b).
jay said
Review foreign currency trading regulations – CCTA
Yet another entity is intensifying efforts to get the Government to review regulations governing Foreign Currency trading.
Directors of the Caribbean Currency Traders Association (CCTA) are requesting an urgent meeting with the Executive of the Financial Services Commission (FSC).
http://www.radiojamaica.com/content/view/8207/26/
I can see that the FSC is now coming under more pressure.
I wonder what the outcome of this proposed meeting .
Jay said
Meanwhile, the investment club told its clients that World Wise
Investments had applied to the Financial Services Commission (FSC) for a security dealers licence.
“The application is being proces-sed and we hope to be regulated as soon as possible,” he said.
But George Roper, executive director of the FSC, made it clear that his office had not received any application from World Wise Partners. He noted that the FSC received an application from World Wise Investments, which is a separate company operated by the same persons.
What is Mr Roper hinting at here?
Jay said
World Wise closes small accounts to stay viable
http://www.jamaica-gleaner.com/gleaner/20080519/business/business2.html
We already knew this so I guess this is just confirmation
Leaving Babylon said
Thanks VC for your comments. I too have much to loose but believe as you say, that these delays could very well be in the club members best interest. I am just hoping that the payment schedule is reasonable. I am sure that David’s team is trying to ensure that people don’t simply jump to withdrawal all they can, but by forcing a schedule this will ensure that those of us in for the long haul will still have a club and David will still have a business.
It’s still David vs. Goliath(s)
Patricia said
Hey VC…its great to hear from you. Yea, you know that innovation is disruptive and the disruption doesn’t sit well with a certain set. Let’s just hope he pulls through, and I’m sure he will one way or the other. I just hope the average Joe continues to enjoy the opportunity.
Yea, and the blog has REALLY changed. dont know what’s become of Andre. DR, hardly posts anymore and dont know what’s happened to HD. But I am sure its all good.
Venture Capitalist said
Hey Patricia, nice to see you remember me
I ‘am here just enjoying the New York Weather It could be better but what can I say!
I see the clubs are all under pressure I have never left but just kept on the sidelines I guess. Things are not the same as it was over at the olds blog allot of the original posters are gone, what ever happen to Andre who started the very first Blog?
I see that they all want David to be a social butterfly so they are trying to break him! Life goes on as Junior Gong says people will always be whom they are. If someone does not feel the need to speak and be a part of a certain circle they are left out on there own. I know this is what’s happening to David he is a man on his own mission he will not be drinking wine with the other butterflies at the Ritz but the man who will buy you a drink in a Bar and I guess it does not go over too well with the Upper-class in Jamaica. This is not about Forex anymore it’s about a much deeper ritual between the CEO’S and top dogs in Jamaica and the New Kid on the block who is making everyone some extra money. When you have your own money and can afford the best attorneys the big boys can and have a private jet like the big boys and people come to you not you to them it has to stop. How would you like to know that you have millions in a club and the man next door who has a thousand can invest in the same club? You would say what is exclusive about that right well that is exactly what is happening.
I’m not saying David is not free to have problems he is not God and even God faced many challenges, he cannot just keep making money and not have problems, laws change, people change but if he feels he need to be private about it to lessen the pulling frenzy and delay the payments for a few months then so be it. It might be in our best interest. Trying to stuff a mango in an oven and expect it to ripe before it’s ready will only yield what you want but not what is best for the mango. I read the piece in the Observer what are they saying that we don’t already know by all accounts they are limited to what they even hear and report.
I see most of there information was summarized from a web site which I have noted so I guess they really don’t do much investigating but more story telling and all that anonymity from those people in there piece why cant they reveal there names they have nothing to loose after all they are not club members? I must say this has really been a full year I have gone through my share of problems wins and losses but we just have to keep reinventing ourselves once a trader always a trader if you can make money doing what you are good at and love it then you have a great chance of a second life. I think what we should be doing as investors and business persons in a time like this is to try to incorporate different business Ideas for the coming year which is just a few months away. I can bet allot of people have no idea or even know that there has been allot of threats on this mans life to shut his club down a few years back but he decided to trade even through those times were hectic. I think the media needs to find out who are making threats and why they do not want the competition around. “You heard it from one of there analyst If Olint were to register and become a legitimate player it could attract the best professionals in the business, Olint has the potential to be one of the best hedge funds in the Caribbean and that may be the way to go, provided its activities are not shrouded in ambiguity”. What does this all mean to David? He knows he is under pressure he knows he is being talked about. Most people don’t seem to realize that he has a legal team which advises him on when to talk and when not to I guess with all that going on it would not be a very good time for him to make the much anticipated speech as he has a pending case and much more things ahead. I’ will leave by saying I’am an Olint investor with much to lose but I know that life goes on even after a battle so when in Rome do what the Romans do protect yourself and move on to accomplish more. If you have youth in you that is good you have more time if you are smart to make money. I must say Olint has really saved me from allot of hassle which I normally would have to deal with at banks so I can only say I pray for Mr. David Smith and all the club members.
Peace.
VC.
carleena said
Seems all investment schemes are cutting members. some by closing small accounts ie. WW. MD getting rid of jcans. O wont take you back when you take all your monies.for me i strongly think the clubs are getting rid of the crowd..
Mercury Vapor said
Re: Post 1087
JoeJoe, sorry to say, but MD is closing its doors to Jamaicans. On May 30th it will close all the accounts of its Jamaican investors. Look up Posts 968, 973, 988, 995 and 996.
Jcan said
Find Your Wealth Profile
There is a body of research that says all great wealth has been created by people who have focused on the particular path that suits their natural character. According to this research, there are eight unique ways of creating wealth that are suited to different types of people and in many cases are radically different from each other.
The 8 wealth profiles are:
Creator – Making money from new innovations
Star – Making money through uniqueness of personal brand
Supporter – Making money through their contacts
Deal Maker – Making money through the creation of deals
Trader – Making money buying low and selling high
Accumulator – Making money by holding assets that appreciate in value over time
Lord – Making money by controlling cashflow producing assets
Mechanic – Making money by creating systems and procedures that ‘automate’ a business
http://www.jamaicaobserver.com/magazines/Business/html/20080510T000000-0500_135484_OBS_WHY_DOES__IT_TAKE_SO_LONG_TO_GET_RICH_.asp
Jcan said
The Bank of Jamaica (BOJ) is projecting that a recession in the US economy, running to September this year, would lower gross domestic product (GDP) growth in Jamaica by 0.4 percentage point during the fiscal year that ends next March.
http://www.jamaicaobserver.com/magazines/Business/html/20080513T200000-0500_135570_OBS_US_RECESSION_EXPECTED_TO_SHAVE______OFF_GROWTH.asp
Jcan said
Over half a billion US dollars were shaved off Jamaica’s current account last year when multinational firms sent home their parents share of the profits….. Expected and worst to come!
http://www.jamaicaobserver.com/magazines/Business/html/20080513T220000-0500_135580_OBS_REPATRIATED_PROFITS_PASS_US____M.asp
unreal_investor said
Devon why don’t you go and tell Bush not to spend 600 billion dollars of YOUR tax dollars fighting and killing innocent people in a 7 year war that should have only took a couple of months and stop ragging on people who choose life over money…
Jcan said
Just catching up on some news, so this might be stale news ….But I am posting it anyway…LOL
Unplanned events created a general slowdown of the economy during the first quarter for the year. Speaking at the Planning Institute of Jamaica’s (PIOJ) quarterly media briefing, Director general of the PIOJ, Dr Wesley Hughes, stated that the economy during the review period was impacted by global challenges in terms of the increased commodity prices in particular crude oil, wheat, rice and fertiliser, as well as unexpected heavy rains in February.
http://www.jamaicaobserver.com/magazines/Business/html/20080516T010000-0500_135658_OBS_JAMAICAN_ECONOMY_STALLS_IN_THE_FIRST_QUARTER_OF_____.asp
Jay said
For all the alternative Gurus here is something that will make you happy.
http://www.forexpowerstrategy.com/lesson001-new/lesson001-new.html
Now I expect to hear lots of good things right?
joejoe said
Hi to all, I have been away from the blog for a while and I would like to get up to speed on the status of O and MD. Could someone in the know let me know.
Thanks
Jay said
Is WW on track to be regulated?
Did the FSC recommend that they close all the smaller accounts ie those with US$2000 and under?
This in fact would be a good thing as the the lower your networth the lower should be your risk appetite, when you are involved in as risky a business as forex trading.
A man with a networth of US$10,000 cannot afford to lose his US$2000, without him being in trouble.
A man/woman with a networth of US$500K can much easier deal with a loss of US$2000.
RSI said
calm down devon, mine you get a stroke!
Is ur name Bush or Shwarzenegger? If the hospital wants to write off the bill then it is their call not yours. It is good to know that charity and philantropy are not dead. If it were a lot of poor migrants and illegal immigrants would have no access to health care in the states and that would pose a more serious public health issue.
Devon said
1079/TOBE
Did your friend pay the US$120k bill? I don’t think so! I find it hard to believe that Canada does not have the technology to handle high risk pregnancy, so I do not buy your arguement.
I have a Friend in Jamaica who is fortunate enough to have a US visa and was able to fly into the US to have her baby (not a high risk pregnancy, but want to have a US born child. Bottom line, she rackup a bill in excess of US$600k between her care and 4 months of Intensive Care for the baby. While recovering from the C-section, she had home visits from doctors/nurses…something I did not know existed in the US, but available I guess for the indigent. She return to Jamaica without paying a dime. Plus, came back on a regular basis to file for welfare payments for her now US citizen child, while living in Jamaica (she is not exactly poor in my estimation).
If she was a US resident, a hosiptal lien was have been placed on her and if she owns a home, would not be able to sell the property without paying part or all of that bill.
I have no problem with people from canada coming to the US for medical care, but pay for the service. BTW, people from Latin American countries do the same thing. Enough is enough!!!!
pete said
TOBE Says Their is no way I am knocking Canadian hospital and doctors. We have one of the best health care in the world
concerned said
jay, i think you need to come off your high horse and leave the people them
its there money and they are very aware of the risk of investing it
ok
Jay said
Thanks, concerned.
Let he who have ears let them hear.
Quotes from a famous person
“If you are out to describe the truth, leave elegance to the tailor.”
“Only two things are infinite, the universe and human stupidity, and I’m not sure about the former. ”
“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.”
“In order to form an immaculate member of a flock of sheep one must, above all, be a sheep.”
“Common sense is the collection of prejudices acquired by age eighteen.”
Albert Einstein
concerned said
concerned and jay two different persons
and i am an investor with olint but you guys need to stop be so naive and recognize things aren’t right
TOBE said
Devon
Not everyone wants to have their kids in the US. But canada does not have the best in the world. Canadian doctors sometimes recommend patients to go to the US when they do not have the technology or expertise in a particular feild. It was a matter of life and death for her.
1077…Floridian I honestly think this is jay’s real job and he is doing a great job based on the time spent here aand the thought process.LOL
Floridian said
Jay… Them pay you to work on Saturdays to??? Does that count as overtime or is still regular wages them pay??? And to all of you people complaining about Jay… Yuh nuh see say is work di man a work…
But Jay… On a serious note… Is nuff hours yuh a work everyday man… If yuh want a recommendation for them to promote yuh, just send them to the board and we will vouch for you because yuh a work HARD!!!
DW said
Its feels good to be home….nuh weh nuh betta dan yard!….Jay instead of the naysaying you can now buy me a drink.
Jay said
You guys are hilarious.
So only the “supporters” can think alike , but all detractors are the same person, how pathetic.
It just shows the lack of objectivity and zero analysis done by some “supporters” on this board.
MV@ 1075.
This talk about invest whaht you can afford to loose, is nothing but crap, which Big Toe proved.
He posted a negative return, which is something that one should expect when trading a volatile “commodity” such as Forex, and look at what happen.
Complete panic in the forum, can you therefore imagine if he had posted something like “Olint had collapsed”.
I am sure people would be jumping off the freakin pegasus.
Folks get real!!
David may be a good trader and I have no doubt that he is, but his outfit “Olint” has become a …….. , (fill in the blank).
Jay
Mercury Vapor said
Oh Yeah, I also forgot about Nocotec and Cindy!
Mercury Vapor said
Do you guys remember that posting by “Big Toe” the one that said “O” made -17.65% for April? Kevin removed it from the blog after we had a near panic! Well, if I remember correctly, there was someone else who also posted that -17.65%…and I think that person was “Concerned.” So Jay/FR/Jason is the same person…and I think he also goes by “Danews” and possibly “Concerned”. What do you guys think…”Concerned” care to reply?
Oneil said
JAY=FR=COGOTEC WELCOME BACK, AT LEAST YOU DONT SOUND SO MALICIOUS LIKE BEFORE. FACTS PLEASE NO HEAR SEY
Jay said
Forex Rookie @1064.
http://www.altavra.com/managedfutures/develop/advisors/capitalblu.htm
Paige said
Devon
and the blog just got a little bit better with that comment right???OK!!!!!
forex rookie said
DOES ANYONE HAVE ANY INFO ON CAPITAL BLU INVESTMENTS??????
Devon said
@1048/TOBE Says:” i friend of mine flew to miami(jackson memorial if i am correct) to have her baby. She wanted to have the child in canada but she had complications. Because in canada here socialization has a negative on healthcare. healthcare for all does not mean the best. So alot of more afluent canadians go south to have many major surgey. She flew down to miami since she had family there.
She had racked up a bill t=of over $US120K to give birth to a child. This was here 1st child and she had complication.I think she is 41.”
I wonder if your “leeching” friend intend on paying that US$120K bill or will she do like all the others and leave the US taxpayers to foot the bill? Tell her to stay in Canada next time and have her baby, instead of coming to the US to feed off us. Let me guess, the Canadian welfare system is paying for the up keep of her kids also…right?
Floridian said
I was googling Olint to see what came up on the web and came across a site that reminded me about the drama with Olint and the FSC and completely forgot that Olint had sued the FSC for US$300 million way back when… No wonder them a pressure him so hard… Is vex dem vex and want to teach him a lesson… The next thing with regard to this licensing thing…
From the articles I read, it seems to me that forex trading falls under the ambit of the BoJ, but when DS went to them, they sent him to the FSC… When him go to the FSC, then send him back to the BoJ… And back and forth they went…
Nobody know who them fi register with, where them must register, what them registering or when them must register… All them a say is the Olint must register with someone, somewhere, sometime…
Ahh boy… Only in Jamaica… If mi nuh laugh, mi will go mad…
BTW… I found this nice little site that recapped the history of the Olint saga which can be viewed here for those who want a synopsis.
http://www.vcresearch.info/open/forums.asp?TopicId=9502&ForumId=108
concerned said
there is worldwise
but it seem to be having a little problem too
how about the pastor finn one??
waiting in the wings said
im shocked that may daisy closed but i agree that the stress was not worth it it was like a bad marrige:-) i hope to get back my money and will go to the fraud squad if necessary
forex rookie said
wanted to venture out some and diversify i am a mamber of lewfam as well. any thoughts on capital blue.????????
Patricia said
Jay could it be because they have a life??? Just a thought. I’ve said before sometimes SILENCE IS GOLDEN.
Cheers
P.
PS Venture Capitalist, I thought I glimpsed you. What ah gwaan?
fx. ras said
i trade fx.com has a good managed account.
Jay said
This was posted by a certain individual here who said ” mi a tell lie pon people”. You decide who a tell lie.
“April 11, 2008 at 12:10 pm
FR/COGOTEC MR SELFISH AND BAD MIND WHO DONT GIVE A ????
Let me tell u something, my sources told me from boj and the banks, that they wanted to close cash plus accounts from before the news broke. I shared this information with my many freinds and because of my advice, they all closed their accounts, with the exception of only one stubborn person. They are all sleeping well at nights now, as i saved them millions.”
I guess that individual has now received his money also, as he is now posting less and less.
BTW did you notice that some of the most vociferous posters/supporters have stop posting
Want to make a guess why.
Well go figure.
Anthony_dundee said
Lewfam takes US customers. I am in the US
Mercury Vapor said
Forex Rookie, did you read post 998 by Leaving Babylon and post 999 by Yardman on Wall Street?
You can go to Alan’s Money Blog at http://alansmoneyblog.com. The writer of that blog has invested in FXCM Aggressive Sentiment Fund and writes reviews about it there. Click on “Forex” on the left side under “Categories” to find the reviews.
forex rookie said
capital blue…..i mean
forex rookie said
or cash blue investments ??????any of these any good??????
forex rookie said
okay so I KNOW ABOUT LEWFAM, OLINT, F1 INVESTMENTS WHO DONT TAKE USA APPLICANTS, THAT SUCKS. ANYOTHER MANAGED ACCOUNTS THAT MIGHT BE WORTH CHECKING OUT HEARD OF FXCM MANAGED…COMMENTS PLZ
V Happi said
I am sad my daisy lady locking us out.
oneLuv
V Sad
TOBE said
My other half is from BC CA(white and Im blcak jcan). we invested in small speculating company out a few years back. The guy we invested with only had a high school dip(Not even sure about). My partner being canadian and white had alot exposure which I never had coming from an island.I was in college doing postgrad and borrowed some student loans and invested $10K and he was just odd jobs(construction type).He put in about $15000. We got a hand written receipt for our money and a one page typewriter written notice on progress etc prob every 3 months if we were lucky and with alot of grammatical error.
I thought it was odd and my partner said his brother Knew some guy who new ….I personally thought this was ponzi.In the end we made a pretty penny.
We started investing in the US.We invested ENRON good rating- standard and poors.Bought alot of stock cause, Great financial statement, ratings etc, Great communication. But know what they were doing fictitious accounting.KEN Lay talk sweet and hood wink all a wi money. the company collapse and as god be mi withness mi almost have heart attack. The stock move from great to nothing.Mi could beleive weh mi a hear and si. It was like wolf in sheep clothing.
People mi nuh seh ponzi nuh out deh.Some of the non-ufo dem a crook. So you have to monitor everyone audited or non audited.Check all of them.
unreal_investor said
TOBE, thanks for the input, I will seek the advice of a good accountant. Ignore Jay, him really don’t serve any purpose but to create blog activity…
TOBE said
take alot of these offshore banks and investment houses where the rich keep their money. Do You think they are transparent. You go and ask them for financial statement etc. They would laugh you outa town. Their clients expect secrecy and they provide that.
Jay said
It rather interesting how I need to live outside of Jamaica to broaden my perspective.
Where did you say you made most of your money ?
Jay said
Tobe,
Ponzi is a Ponzi no matter where you live.
TOBE said
unreal_investor
taxes is complex there are ways but you need a good accountant.
my accountant put some of our assets in a trust about 2 yrs ago.I think you need a certain minimum. i am not a financial advisor, but spend the money and get an accountant.Get a tax expert not like h&R block etc.
I am not married but coahabitating and we have 2 kids. It was way to protect them – acct& lawyer advise.
I now live in vancouver..not sure where in canada you live.Toronto may be different.
TOBE said
i friend of mine flew to miami(jackson memorial if i am correct) to have her baby. She wanted to have the child in canada but she had complications. Because in canada here socialization has a negative on healthcare. healthcare for all does not mean the best. So alot of more afluent canadians go south to have many major surgey. She flew down to miami since she had family there.
She had racked up a bill t=of over $US120K to give birth to a child. This was here 1st child and she had complication.I think she is 41.
I wanted to withdraw some money from olint to give her about $9k.Oneail may dear thats the cost of living in 1st world.It may seem like a lot but its not for good healthcare.
forex rookie said
is anyone a f1 investment member i would like to be reffeed in …..can someone help …munu92@yahoo.com
unreal_investor said
TOBE so basically you cant avoid paying the 29% on your alternate investments return p.a. even if you re-invest gains into the following year!?!? What about going to a financial planner?
TOBE said
RRSp and TsFA
tax free pension like tax shelters in ja, 401k and ira in the us
thats how I avoid some taxes.
As a canadian I have to declare my worldwide income.
The bank will only have a problem if there is sudden spike. $10k is not alot of money for me and my boo based on my balance sheet.
say normally you had only had a balance of $10 and changed to 10000. that would raise alot of questions.
We also retain an accountant. My boo has a business and Since the law in ca is very complex because I do not want the CRA come knocking on my door.
forex rookie said
what about fxcm managed accounts …thoughts??
TOBE said
Nothing is wrong with speculating, you will never get rich if yu neva try.I am sorry for folks that were scammed but I think some of those scam artists were very obvious from day one. I would have never put my money with C+ because being that my boo and I famaliar with housing and building we kinda knew it waould be hard to make that kinda money from it based on mr hill model even here in canada.
i think alot of people were hoodwinked… I will not say I am angry at them…or call them stupid. Because they not they were trying to better themselves. Maybe misinformed yes.
I will say this at 25 I had 40K now I have much more.Jcan people are resilent and they will pursevere.Nothing beats a trying man.
Oneil you may snicker at my net worth of $2million+ canadian. But that not alot of money. I live in a 1st world country. Cost of living healthcare and inflation can eat away your money. Based on a few people I talk to thats not alot of money.They estimate you need about %million to live here. remember also with quality of life people are living longer. Based on statistics I may live well into my 90s.
The cost to live in ja is not alot of money. If you had a million us/ca you could live very well but not here.So what I am saying is not stupid.
unreal_investor said
TOBE, do you report the fx ac returns as world income or just what you bring over to Canada?
unreal_investor said
TOBE, not sure what tsfa is, how do you deal with the bank when you get the big wire transfers like over 10k?
TOBE said
Must add I have goverement pension, savings and I did some speculating on the housing market when it was hot in here in Ca. My boo is a contractor and has his own company. he does commercial and residential. On the side we bought houses and flip. the housing market here kinda seize up. My residentail house was valued at about 750K now just over 1/2mil.
TOBE said
I have another shcak in ja that sey value about US200K.Inherit from a grand aunt.Its in norbook. Not really sure.i bought the house in canada 7 yeras ago but with improvement and increase value, its now 1/2Mill. I paid $150K for it then.I have mortgage on it for 80 k.
Stocks is the trick, RRSp and TsFA
TOBE said
my house value about 1/2can million.the asset is between me and my boo.I am not married but cohabitating.
Oneil said
re 1029 tobe
Tobe ur us$400k = 20% of ur porfolio,ur porfolio= us$2m, = rich , big up i want be like u lol
unreal_investor said
TOBE how you deal the the tax issue in Canada with alternate investments such as olint?
d_silver_lining said
Don’t know if the period you have been with them matters…I have been with them since early 2006.
TOBE said
d_silver_lining
I myself have received money from lint 50K + between jan and april 2008 .But I have been with them from late 2004. So I do not know if that makes a diff?
TOBE said
A blinkered view of forex traders, financial innovators
published: Friday | May 16, 2008
Wilberne Persaud, Financial Gleaner Columnist
Foreign exchange trading is a burgeoning element of world financial activity. Its phenomenal growth results from multiple factors interacting as the concept of globalisation took hold of the imaginations of vast numbers of people.
I speak of globalisation taking ‘hold of the imaginations’.
This description stems from the relationships and activities captured by the term ‘globalisation’ being, from a careful reading of history, nothing new.
This bit of historical reality cannot be over stressed. To discern this fact from the mountain of words written about modern day globalisation and its inevitability enables one to have a much better grasp and understanding of what is truly happening.
Global impact
So let’s accept one fact: globalisation is not new. The phenomenon began with the rise of capitalism and colonialism. Its truly global impact today occurs in the arena of financial services. An important reason for this is the capacity that computers and computing, fibre optics, communi-cations, etc, have created to deal with unimaginable amounts of data in real time.
Partly also, financiers and their publicists and lobbyists have positions – put at its mildest – of influence in the world’s leading economies through political systems that must accommodate policy to their wishes.
Oceans were always good separators of people and trade but man-made barriers were even better.
So the second enabling factor is the law governing these activities.
In a truly globalised world viewed from the space shuttle, inter-relationships between and among nation states would show a ’spider’s web’ of activity if one looks at our planet’s trade in goods and services, investment and yes, labour movement flows.
The snapshot one sees is no spider’s web of activity but huge flows among the rich countries and the burgeoning growth nodes – China and India, alongside some resource extractive activities among less developed countries.
The foregoing is merely the gist of what’s going on.
With respect to foreign exchange trading, the kernel of the matter is that profits are there to be made. Once these circumstances continue and prevail, the trade shall continue. Margaret Thatcher once said in reference to Hong Kong reverting to China and her perception of the coming fall of communism in China: “The Chinese are born traders”. It seems to me, to be a bit stronger than she claimed: humankind is a trading life form.
But to the problem at hand: the attitude of the Jamaican government to foreign exchange trading by institutions on behalf of ‘consumers’ or the public is formed by several factors that constrain both its behaviour and in some instances its thinking and conception of the problem.
Here’s a start-up list:
1. It is evident though never publicly admitted that both PNP and JLP administrations hold at least a suspicion that forex traders are somehow associated with money laundering.
2. The Bank of Jamaica worries constantly that free forex trading would disrupt its monopoly hold on oversight and management of Jamaica’s sparse foreign exchange reserves. Its view continues to hold that the activity would cripple its ability to manage the currency, money supply and inflation. This fear put simply and starkly is that its role would be marginalised. The Irony is that massive amounts of foreign exchange never pass a BOJ window.
3. The multilaterals, Europe, and the United States all worry about money laundering and Jamaica must respect their wishes in its policies.
4. Competition for business in Jamaica leads to strange bedfellows, relationships and economic decisions.
5. Mechanisms for funding terrorism and illicit drugs are thought to be assisted by the freedom of financial transactions that forex operations generally can allow. Jamaica is not only a popular destination for tourists; it is completely accessible to the world. And for its existence must remain so. This presents real and potential problems that must be dealt with.
6. There appears to be a blinkered vision of possibilities for dealing with this problem
d_silver_lining said
I should have also noted in my post, that I have received some encashments roughly $80k usd between Jan to April this year from ‘O’ these cheques all coming from the same foreign bank. Plus I see cheques waiting to be disbursed to other members…so they have always been paying, just in small amounts and slowly. Not like the other troubled ‘alt. investments’!
NCB…who needs them? I have been getting foreign cheques and don’t mind waiting the 30 working days. For those who use their funds for daily expenses, budget accordingly and the 30 days won’t matter. I know DS just wants the NCB account so we can get quicker access to our funds…he cares about JA and his people. But MLC just cares about our $$ hahaha…
There are alot of negatives on the forum, but you need it to keep the balance I guess hahaha!! So don’t cuss those posters against ‘O’ they are entitled to their opinions and should be allowed to speak their minds.
JUNE is a few days away
TOBE said
jay most traditional and alternative investment out there in the rest of the world is not as transparent as you think.Check. I think you need to live elsewhere than jamaica to increase your horizon and thought process.
TOBE said
jay i really think you need some conselling.I am socail worker maybe I can help you.
TOBE said
let me add I have invested $US100K in olint. I have another 300k in other high investments here in canada.
That total is only 20% of me and my boo portfolio.The way I figure I could lose it all. But I most of the money I have made came from other high investment.80% of my portfolio is in traditional investments. really to become financially free require some level of risks. I have been investing since I have been 15. When my dad started me out on stocks.
I have a dead end job with a pension. Not much money from it but it provides me the time to research and invest. So I keep it and every day I go to work with a smile on my face.
TOBE said
d_silver_lining
I am inclined to agree with you. I consider myself a very worldly person and tend to keep up with alot of the international business. I live in canada which is a very different investment climate than the caribbean. Maybe not as even dynamic as the USA. Most of the persons blogging can only imagine the world in which they live. Their perseptive is formed from their community and country.
DS could be misleading but I think his argument so far is rational and his explanation can be justified. But until people start getting there money all then it really doesn’t matter.
I honestly beieleve there are scams out there and many people may have been hoodwinked.But I do beleive there are genuine alternative investments.
Most people do not realize that many of these hedge funds, oil speculating companies, venture captilist co. etc started out in sosmeone basement etc. They only became legit and reputable investments with time.I think we all have to do due diligence when we are investing. I have lost alot of money in new and emerging investments. I have also gained. I am 35 yrs within another 10years I beleive I can retire with a nice nest egg.
So my message is do not be afraid to invest but be careful diversify and plan.By the way I drive a old camry to work. I have the worst car in the company but my nest egg is nicer. Nicer than most people I work with and know.
jay said
Venture Capital your comments are not for this board. The folks here(well most) want the following:
1. High Risk.
2. Astronomical ROI
3. Secrecy.
4. No disclosure.
5. No audit accounts.
6. No regulations.
7. Tek dem money when dem want.
8. No detractors.
9. All supporters
Investment Man said
To all my peeps on this blog, has anyone received payment from WW since May 01….please let me know…
Mercury Vapor said
Venture Capitalist, they have another managed forex account. It’s called FX Commander and the minimum to invest in it is U.S. $5,000. You can read more about it here:
http://www.capitalblu.com/?s1=products&s2=AssetManagement
You can also click on FX Commander at the bottom of the page for some more information.
Venture Capitalist said
I just made an inquiry to open a managed account with capital Blu But is the $100,000US minimum for real?? wow i though i could get a managed account for about $ 2000 USD.
We appreciate your interest in becoming part of Capital Blu Managements Asset Management Program.
Based on the information you submitted online, you have met the qualifications of our private offering, the CBM FX Fund. This fund is structured as a limited partnership, where Capital Blu Management holds the title of General Partner, and each investor holds a percentage of ownership which is determined by the amount invested. Each participant is required to be an accredited investor.
The minimum initial deposit is $100,000 USD. We make allocations to our prime broker, M F Global, on the 1st of the month and the 15th of the month, so it will be in your best interest to make your initial deposit prior to our allocation days.
In order to receive the account opening paperwork, please respond to this e-mail with your physical mailing address or call us at 239-963-9112 and we will gladly assist you with this process.
The account opening paperwork will consist of a Subscription Booklet, a Limited Partnership Agreement and a Private Placement Memorandum. Each prospective investor must read, sign and agree to the information found in the Subscription Booklet. The Limited Partnership Agreement and Private Placement Memorandum are to be reviewed and kept for your records.
Please let me know if you have any questions along the way …
Warmest regards,
Capital Blu Management
danews said
@ Oneil..
trade conservatively and high risk investments are opposites..
The higher the reward, the higher the risk..
why not jsut encourage everyone to go for the managed FX accounts like what Capital Blu offers . I gather you can see details of all trades..
with the knowledge that the rate of return is 2 % on average
Oneil said
re 1013 Jay
This oneil never believed in Cash Plus. stop tell lie pan people. I trade fx i know high returns are possible, it just needs good management. Show profits and losses, dont hide them, trade conservatively, manage ur risks.
jay said
Another Alternative and the banks.
http://www.radiojamaica.com/content/view/8167/26/
jay said
DaNews @ 1015.
You know what a gwan brethren, its so hypocritical of these people to be withdrawing while telling you to hold strain, “ge d man more time”.
As I have repeatedly said it the poor man who end up the loser.
See now the observer is confirming that some “big guys” have left, but the supporters says ” yow, we hear dat a aready, dat a stale news”.
Thus they miss the bigger picture. “If the big man dem a lef why mi should a stay, oh I know why. Because mi invest what mi did invest what mi could afford to lose”.
As you can see the “big man” have no intention of losing his money as he wants to preserve his wealth, but the “poor man” that is “trying a ting” can afford to lose his.
Amazing !!!
So the saying that ” The rich will continue to become richer, while the poor will get poorer” holds true.
There is a reason why this happens, lies in our belief structure about how to create and retain wealth.
Jay.
Leaving Babylon said
Jay – Your 3 “recaps” from the article were the same ones that jumped out at me. The whole time I’m reading this article, I couldn’t help but think, “OK, the bloggers down on O are going to like these points and us supporters will like these comments.”
Sure we all “hear” want we “look” for, but objectively as I can be in all of this, I could not see this article as being anything but positive. They stated the obvious and then made it clear that it’s still on Dave. Is Dave a charlatan? Come on, he’s going to do the right thing. I’m sure that his consultants are wanting him to go the formal legal route, which will really be an annoyance, but everyone is clamping down on forex. The SEC just filed four cases in Babylon (in the enforcement world they call these sweeps). Put the fear of God in online promoters for a while, then switch to hedge funds… now today the flavor is forex.
Be the hero SuperD!
Mercury Vapor said
Thank you for your input Danews…or should I say Jay…or maybe FR…no wait, I mean Nocotec! Tell me, do you a multiple personality disorder?
danews said
Some people here are very condescending of others. They have the view that if you share dissimilar views then you are the same person.
I could say that all of you who are supporters are the same person !!! how stupid would that be.
there are people here who agree and some who disagree, and some in between… that is a part of life.
the fact is that all the clubs are suffering runs .. and most people I know ( myself included) are pulling out their money.
surprising is that most of the supporters are ALSO PULLING OUT THERE MONEY. thus they are saying don’t worry on one hand and pulling out on the other hand.
I know of someone who had 3 million in cash plus, some one with 200K was expressing doubts as to whether to pull out, he assured them that everything was alright and is the big man fighting out out the small man.
when cash plus crash, the guy with the 200k was empathizing with the one with 3 mill how them salt and what them to do..only to hear that the one with 3 Mill had pulled hios money !!!
thus is the small man get jukk..
some persons here have the same attitude.
Mercury Vapor said
Hahaha…I just found a new club! Has anyone invested in it…I’m wondering? It’s called “DA PIG”????
jay said
Oh Oniel @ 1011.
All supporter please read Oniel comments carefully.
I am not sure but, could this be the same guy who was on Cplus investment cheerleading for CashPlus when he knew they were a ponzi and had started collapsing from June.
That blog started in Oct or November and that Oniel stated in another forum, after the collapse that he had inside information that they were collapsing almost 5 months before they did.
If this is the same guy, what do you say about credibility and integrity ?
Well … I do hope its not the same person.
BTW there is some postive out of the article which I noticed no one has yet commented on.
1.David (Smith) is a hero to many people although he is an outlaw figure to the established financial institutions in this country. Why? Because through foreign currency trading he makes them handsome returns,” said Anthony Minvielle of Barclays Capital Markets. “He has never guaranteed returns of above 10 per cent a month but consistently produces above average returns. He has not promised – rather he has delivered – and that is rare in corporate Jamaica. This explains the faith reposed in him and that is where he needs to reside.
2.What started as a club has, for all intents and purposes, transmogrified into the biggest private fund in the Caribbean. Smith has indicated that Olint may well reduce its membership and this may well go some way in alleviating the stresses placed upon the club. It would make the organisation more manageable and its management corps could be proactive rather than reactive.
3.If Olint were to register and become a legitimate player it could attract the best professionals in the business, thus freeing up Smith to concentrate solely on trading. It must be incredibly arduous to focus upon running the company’s operation, albeit with the help of his brother, Wayne Smith, and trade currencies. Olint has the potential to be one of the best hedge funds in the Caribbean and that may be the way to go, provided its activities are not shrouded in ambiguity
Mercury Vapor said
Re: Post 1000
Forex Rookie, I’ve heard good things about F1 Investments. Leaving Babylon says their Platinum Fund is traded by a very good trader. On their website, which I just looked at, it says the Platinum Fund has reopened for a limited time only. I would suggest that if you want to join another club you should try to join F1 Invesments. That’s my opinion, but remember that I am not a member of this club and have no experience with them. You should ask Leaving Babylon for more info, and read Post 212 and 550.
Oneil said
re 1009 Jay
Jay stop wasting ur breathe u not saying anything people dont know already. Alot people here are more financially educated than u, people know they are just taking a risk, which they know they will win or lose. Enough said.
Olint is just surviving on DS reputation, which is fading ,the more it fades the more people will be requesting their money. The ball is in DS hands whether he swims or sinks. Regulate or not
GetRich... said
# 1008 I have no problem with MD closing my account but why should I have to wait so long to get back my money. According to the schedule some persons might have to wait until November which is totally unacceptable since u will not be getting any additional interest during the long wait. I don’t even buy anything they said in that update because just a few weeks ago they claim that the internal due diligence was completed and all bad apples were kicked out so why are u now closing all accounts. This just does not look good and more than likely some of us not getting back a dime.
Anthony said
Hey JK
I have not posted for a while but just had to post in your defense, I remember when I thought you were a worldwise agent, re your post here and everywhere including their live chat.
Must say I respect the fact that you are saying it as it is re their current position and your experience at this time. Whatever happens from here we just got to push on as the saying goes once there is life there hope. From one wwise member to another good luck.
jay said
DR,
I know that you have now seen the light.
So are you guys going to “cuss” the observer and seh dem a fight down DS too.
By the way just to set the record straight, I do not work or write for the observer.
Jay
DR said
Again I say the time has come to get out of all clubs, the very least your principal (if you can get it)….. Take your interest and put it in a regulated mutual fund… The climate is SOUR….
Yes, I have been repeating myself….why are people upset that MD is closing…as far as I am concerned that is good news…I will get my garden by next month..and be able to pay my taxes and move on…. no stress, phones unanswered, emails not responded to….CRAZY….
check this out:
http://www.jamaica-gleaner.com/gleaner/20080516/business/business9.html
Did you know that Flow could be blocked: hmmm
http://www.jamaica-gleaner.com/gleaner/20080516/business/business1.html
Jay, I think we are smelling the same scent…re: The Lint,,,can;t say much more on this right now…
DH said
http://www.amazon.com/s/ref=nb_ss_gw?url=search-alias%3Daps&field-keywords=life+and+debt
Can be purchased from Amazon
DH said
Why is the IMF pushing to get rid of these clubs
see the documentry “life and debt” dvd and can be viewed on youtube
Curves said
Wise took out an injunction against RBTT which was trying to close their accounts. And the battle continues….
Guys ensure that you send Wise your bank account info so they can send your returns there.
DH said
Clubs are going to survive but they won’t be easily accessable and a lot of you will be left behind if you are waiting on clubs to be regularized, none will be.
IMF even calling for cross border fighting of these clubs
G-Man said
A blinkered view of forex traders, financial innovators
published: Friday | May 16, 2008
http://www.jamaica-gleaner.com/gleaner/20080516/business/business9.html
DH said
Guys remember when I send the IMF is behind the government, pushing them to shut down the clubs.
DH said
http://www.jamaica-gleaner.com/gleaner/20080516/business/business6.html
G-Man said
A blinkered view of forex traders, financial innovators
http://www.jamaica-gleaner.com/gleaner/20080516/business/business9.html
Bless
jay said
Olint at the crossroads.
Is it really due diligence?
The alternative investment scheme Olint Corp headed by David Smith now finds itself at a crossroads, with its next move determining the very existence of the popular foreign currency trading outfit
http://www.jamaicaobserver.com/magazines/Business/html/20080516T010000-0500_135656_OBS_OLINT_AT_THE_CROSSROADS.asp
Long but please read it all !!
forex rookie said
IS THERE ANYWHERE ELSE TO GO…..CLUB WISE
forex rookie said
MAN IM GLAD I ASKED…SO U GUYS BELIEVE IN SUPER DAVE…WELL I GUESS ILL JUST STICK WITH LEWFAM….THANKS FOR THE TIP
Yardman On Wall Street said
Regarding FXCM – I closed my account about three months ago after losing approximately 20% of my principal. I had actually visited their offices, on Old Slip in the Financial District which is only a couple of blocks from Wall Street and met with their traders. Their VP for sales actully mentioned that they had heard about DS, but had never met him. FXCM, trades about US$200 billion per month in the forex market. They were also encouraging me to be an introducing broker, but I never took up the offer. My advice to anyone wishing to join, woule be “CAVEAT EMPTOR”….let the buyer beware.
Leaving Babylon said
Forex Rookie – I don’t want to go into another tirade about FXCM, because a number of us have jumped on this, so in short I will simply say, “Buyer Beware”. FXCM is notorious for misleading advertising and promoting systems that are not very true to real life. I personally did fairly well in two FXCM accounts earlier this year, but not because of their trading, but because I was “long cash” by denominating one account in Japanese Yen and the other in Euro.
In other words I made money simply because I was out of the US dollar and closed my accounts before the dollar rally. Basically I was fortunate enough to get in after a serious draw down, both accounts ran up almost 12% in one day and then lost money for two-months straight. As I said, I made a little just because I was out of the dollar, but all in all it was a wash and a poor experience, especially when examining their systems ridiculous high level of churning.
At one point I was an introducing broker for FXCM (among others). I closed my accounts and withdrew my application because their compliance department was so hypocritical, thus my now extremely boring single page website: legacyibroker.com. Here’s my confession: Admittedly, I did not put Olint through the same scrutiny that I now run everyone else through, but simply placed my trust in a friend of David’s that O was clean.
Mercury Vapor said
Man, I’m really sad to hear that MD is taking out all of its Jamaican clients. Deep down I really wanted MD to pull through. I remember when I first started hearing about MD…it was back on the old blog at WealthMax. Man, back then that club seemed so cool!
MD was clouded in secrecy, ultra exclusive and paid an unbelieveable high rate every month (20%). I didn’t have any money to invest at the time so I never asked for a referral. But many people on the blog were always asking for a referral to get in. Ahhh…those were the days! This is sad news indeed.
GetRich... said
Y’all buy MD’s claim that their membership spans the entire globe? According to alexa.com Jamaicans make up over 97% of the traffic to the site and I think the US makes up the remainder.
http://www.alexa.com/data/details/traffic_details/maydaisy.com
GetRich... said
MD members check out the latest communigram. It aint a rumour. They getting rid of us. I wonder if wi getting back our money though. I don’t like that payout schedule thing. Reminds me of CP and look how that is going.
d_silver_lining said
Hi Guy’s,
I have been reviewing this blog for a few days ‘from the shadows’ as another member mentioned LOL. Decided to throw my input in on the big ‘O’ it’s gonna be long but bear with me….
I do think the post @ 986 ‘moving from TCI to Belize’ is a little bit grey…as they’re not ‘physically’ moving their operation…just there bank a/c’s.
As LnB noted @ 986, it’s good to see ‘Wachovia’ back in the loop, as the previous wiring instructions where using Bank Of America as the US bank during this due dilligence process, now they’re back with Wachovia…so seems that DD has come/or coming to an end now.
I$$A did not pull the ‘noted’ crazy funds ($xxx millions) as it’s been stated all over this blog, he did pull some funds and as he says if he had that type of money that has been ‘rumoured’ in this blog and all over the place “why would he be working?”!! I$$A fund in Cayman is a hedge fund and started a long time ago cannot be compared to ‘O’.
Quoted from TCIFX website: “The Fund is held in cash in one or more trading account with Wachovia Bank or I Trade Fx. The balance in the trading accounts is the money that the fund uses to take spaeculative positions in the currency market and cash not immediately required for investment purposes will be held in the trading account with the Bank earning interest.” Have you guys ever thought that he ‘goes in contract with Wachovia and these funds not immediately required get lock into a contract at an interest rate’ for maybe a year ;D while Wachovia benefits from lending out all this cash???…now suppose this happened ;D and he did not predict this ‘run’ he would def. have a problem paying out now…and would patiently have to wait till it expires…hmm maybe May 31st? jus maybe….
Ok, so what about this DD? With majority of his funds supposedly under contract & earning interest in the bank…he has to start pulling it all from his broker and off the trading platform…now the DD arises (between broker & bank) because DS is pulling major funds unlike before…hmm maybe this could have happened and cause the DD…just maybe.
Guy’s wait till June 1 ;D things will be much more postive after that…I like to be optimistic
Plus you cannot ‘honestly’ compare DS to the likes of the shady CH and C+ operation…R.Az should have stayed in the dry goods biz, what does he know about Finance…May Daisy, no one never knew this person personally and they have always ’seemed’ to have had a shady operation…HW, Swiss, Minvest why would anyone invest in these…internet based scams!
Mercury Vapor said
Re: Post 989
Dash said: “I am so sorry, I meant Jay, Jason and FR is the same person.”
Hey Dash, I have a feeling that Jay is also Danews too! What do you think?
carleena said
is there a run on WW.they seem to be having a problem paying people, is there any one that knows what is happening at WW…
forex rookie said
IM A MEMBER OF LEWFAM AS I SAID BEFORE. THINKING ABOUT A LITTLE DIVERSIFICATION. WHAT DOES EVERYBODY KNOW ABOUT FXCM AGGRESSIVE ACCOUNTS. AND ARE THEY SAFER. THOUGHTS???????
positive said
Mercury @968
I do not blame people who invest their monies with them from behaving badly. They deserve it! Their service is not only poor, it’s disrespectful and insensitive. We have been complaining about the service for a very looooong time and no change! Numbers ring unanswered, infrequent commumication, no response to queries, they do as they please when they please, and the list goes on……
If what you say about MD plans to close all Jamaicans account is true, then i think they should go right ahead and close mine, as long as they pay mi back every fahden (penny)!
Its a reflection of their management capabilities, and now they want to find a quick fix to the problem instead of dealing with their internal inefficiency. You can deal with a headache in two ways: use a painkiller, or remove the stresses that cause it. The equivalent in problem solving to an analgestic is known as the “quick fix”. It treats the symptoms without tackling the cause of the problem. MD needs to take responsibility for the problem! Is good service too much to ask of them.
Bless
Dash said
I am so sorry, I meant Jay, Jason and FR is the same person.
Cdk said
May daisy will be closing all Jamaican accounts on 30-May-2008. reason given is bad man attitude from investors. Payment schedule to be announced in two weeks
Leaving Babylon said
No one commented earlier, but again I think that I should point out that in the light of whatever this due diligence process is, there are two things that should be noted:
1) Olint in the midst of their banking changes ARE STILL working with Wachovia – this bodes well for SuperD
2) Olint is moving from Turks Caicos to Belize – look at the IMF’s own research and you’ll see that Belize has a stronger review than Turks Caicos.
For me these are changes that are reflective of a “clean slate” form of compliance that makes sense. Imagine the changes that are being thrust upon management in how they process and accept customers. A new account for a new accounting in not far fetched, yet everyone appears to be freaking out and nervous. Please calm down.
If they were no longer working with Wachovia, then I would be freaking out. My previous mystery post never did appear, but I provided some research links comparing and contrasting Belize vs. Turks Caicos, but I’m sure that you’re all quite capable.
DW said
JK: In your opinion,is there a Run on WW, because from what I have been hearing people seem to be trying to pull there money.I will be making the trip this weekend to JA , bright and early Monday morning I will be at Ruthven Rd to find out what is really going on,if the vibes Positive I will keep my account open if not I am going to close my account ASAP.
dehustle said
DH
yeh was confusing with a post earlier from JSM
DH said
JK dont know much about shocks. But what I understand that in jamaica alot of inside trading takes place, so if you what to be successful you have know people in the know. And I dont believe in buying stock and wait 25, 30 year before selling.
waiting in the wings said
i feel strongly that those people who come on the blog and say that they have info that is shrouded in secrecy are mean and spiteful. If i had a sectret it would be exactly that a secret. dont play with peoples emotions and think its funny because it is not.
To JAY who rejoices at any sign of negative puk off
JK said
im not much of a stock person even though i did by some while in high school because my father bought jmmb when it was first issued for 4.00 now its 14.xx trust mi if i had a big sum of money at the time i would be nicccccccccccce!! lol im looking to try my luck again if i get my money back from WW
JK said
apology accepted
bwoy mi deh ya a sweat bullets for myself an quite a few ppl
dehustle said
JK
Re stock anymore good tips like gleaner didnt but bought MFP
post or email dehustle@gmail.com
if U csn share
Thx
DW said
JK: if I jumped the gun and misjudged you, I apologize.My response was based on Dash post#949.Jk… these are trying times and tensions are high….anyway we shall overcome.
DW
JK said
dh how about trading stocks?
DH said
Anybody did any home work on amasis Capital I can be contacted at daneal95@hotmail.com
DH said
Oh well I be down to 3 clubs. I need to fine another to replace this one, anybody have any suggestion
GetRich... said
I could care less if MD closes my account. Just hope dem give me back my money.Worst service ever!!!
Jay said
InDeRiver@ 973.
You are right on the money. Who can see,let him see. !!
InDeRiver said
one of the conditions of being a member of MD is that you have proof of address in jamaica, so if there will be no more JA members then I guess there will be no more MD.
!Panic @ the disco!
TOBE said
DR I really do not think you know anything anyone else do not know.I think you and Jay just like to scare folks. IF I am correct I think I know Jay…..
Jay said
Cash Plus investors march on Jamaica House
We found that [the receiver managers] are getting US$50,000 per day and we think it is madness because by the time they are finished being paid there will be no money left for the investors,” she continued.
http://www.radiojamaica.com/content/view/8134/26/
Ok folks so for 1 month work, how much did the receiver make.
So between the lawyers fees when the fought FSC and NCB how much of poor people money went this way.
This is a slap in the face of those poor investor.
Jay said
Well, well.
Is May Daisy the latest casualty ?
DR@969 , you seem to know have an insight into what is really going on.
DR said
ToBe: 965
The end of May will be special times for The Lint and The Garden of Daisies….. Think & Check
IMF speaking out…. watch the game as it plays out….
I cannot come any cleaner until all the news have broken in the public…but in the meantime… be very careful…the climate is Shaking for ALL CLUBS.
Lints Due diligence should be finished May 30….
The Garden: wait for the NEWSFLASH!
one man already jumped off Pegasus….The MAX cannot be found…The Hills,newsflash coming soon……Two traders, migrated to Florida…ahh boy… Turks moving to Belize…..hmmmm
Read between the lines….Those who have ears to hear, let them hear….
Mercury Vapor said
OH MY GOD!!!
This was posted at the blog: http://www.highyieldsource.com
“I have been informed that May Daisy will no longer conduct business with Jamaicans as they give the most trouble and show the lowest side of human beings as May Daisy has received numerous threats and Jamicans show a different level of bad behaviour. All Jamaican accounts will be terminated/closed as of MAY 30th…this info I got from a May Daisy customer.”
I really, really hope that it’s not true!
DR said
PEI, One bright day I will fly away home to JMoneyBrokers…with my garden before Nov 14……Last of it: Think & check
PEI said
Tings and times for us here.Oh My Dear fly away home to Zion, fly away home. One bright morning when my work is ooooover I will fly away home.
TOBE said
I have US100k+ to loose in olint. So DR what do you know?
TOBE said
jay is it posssible for me to talk to you off the air.Do you have an email I could contact you.
Opportunity said
RedP or Leaving Bab have either of you seen the new members’ charter?
TOBE said
DR whats the news yu cannot hype wi up like that and drop braps.
Talk up
dehustle said
COK
DR said
MyDears, Get ready for a NEWSFLASH!…Watch out for May 30, 2008
JK said
i suggest u all check out http://www.highyieldsource.com
and hear wat ppl saying
Mercury Vapor said
Hush hush JK…you know we sorry…and we love you!
JK said
Sorry for getting a bit dark but if u know me i am all for these clubs and i have alot to lose
jay said
Driva please correct paragraph 2 in post 954 above it should read..
Don’t you all see the massive transfer of wealth from the poor to the rich.
When these schemes collapse, who do you think end up the biggest losers?
Mercury Vapor said
Re: Post 953
Calm down JK, I think Dash in Post 949 made a mistake. He said “JK” when he should have said “Jay”. Thats why DW said what he said…oh, also sorry for the mistake in my post too.
jay said
So you all think I am either being paid by the “banks” or just “bad minded”, well think whatever you all want.
I do not want to say in the future that I was right, as if I am right it means you would be all wrong and that would mean another large sum of money down the drain.
Don’t you all see the massive transfer of wealth from the rich to the poor.
When these schemes collapse, who do you think end up the biggest losers?
Its normally the small man who has no “contacts” who end of the loser.
Just about when these schemes are about to collapse, the “bigman” is told or is aware and make his exit. The little “fryers” however tries to put a positive spin on what is going, failing to come to the realization that the deck of cards is really falling all around him.
When the collaspse eventually happens he curses, the bank, fsc, lee chin and all the “bad mind” people on the blog, who he believes are the ones who caused the demise of the schemes.
He curses his luck saying how ” boy mi salt bad eno, if mi did know mi would a neva put mi money inna it”.
I do not wish to see anyone lose anymore money in this country due to exploitation by others, but as some say, you cannot protect a man from himself.
Does any want to make a guess on how much money Jamaicans have lost in all these alternatives so far.
By my rough estimate its over $9b Dollars.
Cash Plus $5.2B(Principal only)
Carief $200m
Minvestment $50m
Swiss Cash $120m
Ricky Azan $3.2B
Higgins Warner $180m
Open Trade $20m
Other …
Total cost to the country $9b and counting.
If I added to Cplus Interest that would be another $26B.
So overall cost would be J$33b or US$464m.
So where did all this money goes.
Well just spend 1hr in New Kgn, then go to Ironshore in Mobay, then visit the Hills in Kingston.
Jay.
JK said
DW how am i showing low life bahaviour tell me now. i am stating that things are not looking good
i am in WW and really and truely would love to see everything go thru smoothly
but i am facing the grim reality that things may not and i am stating fact which i know
i dunno who FR is an if u look back at my pass post it was always for these investments.
so please dont class me cause unnu full of S#it
Mercury Vapor said
Re: Post 950
Floridan, no what you’re saying makes sense. When you see someone…and of course hear things about them too…you get a “gut feeling.” That “gut feeling” is usually right! I never trusted CH, but I do trust DS and Olint. Of course I would like to see some changes with Olint, but I believe DS is honest, and he’s trying his best.
Okay, regarding what I said in Post 948…it was about Jay. But then Dash made a good point in Post 949. So, I’ve changed my mind, I don’t think Jay is being paid by someone to “bad mouth” all the clubs. I just think Jay/JK/FR really is a disturbed individual, and well…has no life! I’m not concerned though, if he keeps running his mouth…eventually he’ll get banned from this blog. But I suppose he’ll probably come back under a new name.
DW said
We have some sick sick sick people on the blog.JK..SHAME on you,and to think you had me fooled for a minute there…. Promoting a certain investment entity in JA.HOW LOW CAN ONE STOOP!NO LEVEL OF REWARD JUSTIFIES THIS TYPE OF LOW LIVE BEHAVIOUR.Mr Driva Please STOP the BUS and KICK OFF the UNDESIREABLE.Thanks Mr Driva…..
Peace
Floridan said
Mercury Vapor… Mi just a reason out what yuh a say and if mi maths it out right, is di bredda over at CommonRed that based in Cayman yuh ah talk bout…
Mi nuh know him personally and mi never know Carlos Hill either, but when me did look at Carlos Hill picture some time last year, me did say to myself that him never look right and something did fishy bout him and lo and behold, they did an expose on him in the Observer several weeks later and confirmed that him was a big thief and scam artist…
Mi get the same feeling bout this bredda over at CommonRed… Something just don’t look right with him… Call it gut instinct or whatever, but something just doesn’t sit very well with me in regards to him… Mi nuh know and I might be way off base, but I was wondering if I was the only one that have this sense of unease?
The funny thing about this is that I don’t even know Super Dave, but feel very comfortable with him… There is absolutely no logic behind these emotions and although I don’t know any of these people, I feel comfortable with some and not others based on simply looking a photograph…
Anyway, mek wi see nuh…
Dash said
jk is fr and jason. You can go back two to three months postings and you will find out it is the same person.Just a sick person.
Mercury Vapor said
Re: Post 946
Obviously you’re talking about Jay. Here’s my two cents…it is clear to me that Jay is FR. I mean, think about it, FR disappears and then Jay shows up…that can’t just be a coincidence.
Jay has said that he has not invested in any of these clubs. So why the hell is he spending so much time on this blog, and posting SO GOD DAMN MUCH! Read through the blog and you’ll see that this guy has been posting non-stop! Some people may say: “Cho him just chat nuff!” Well, I say that no one chats that much…unless…unless…he’s getting paid to post all this crap on these blogs.
And who would pay to have someone post negative comments on internet blogs? Think, what company wants to start a regulated forex business in Jamaica? What company wants to lure Jamaicans away from these forex clubs and have them join their business? Think, what company was recently in Jamaica holding “free” forex seminars?
Opportunity said
Came across this. Thought I would share:
An Internet troll, or simply troll in Internet slang, is someone who posts controversial and usually irrelevant or off-topic messages in an online community, such as an online discussion forum or chat room, with the intention of baiting other users into an emotional response or to generally disrupt normal on-topic discussion.
Anyone we know?
Pip Unit said
Thanks Babylon. I’m a lewfam club member and recently was told that they are working on a debit card system with the Bank of Belize. So your info on Super D moving over to Belize makes sense.
jay said
The IMF newscast on Jamaica
http://www.radiojamaica.com/content/view/8120/52/
Mercury Vapor said
Re: Post 910
Forex Rookie asked: “Does Lewfam Club have any other traders it deals with or just Olint?”
I asked them that question last week and they said that right now they only deal with DS from Olint. They are looking for other really good forex traders, but I suppose they haven’t found any just yet.
Leaving Babylon said
Pip Unit – O’s website and their new wire instruction post.
InDeRiver said
Kevin / Driva could you please contact me @ moreryon@yahoo.com
Pip Unit said
Leaving Babylon. Where did you find out that Olint is moving it’s operations from the Turks to Belize?
JK said
with the way the pension resgisration going i doubt the fx traders going to get registered anytime soon
DR said
Yes JK, DonBlu wrote me too….
Let’s wait to see how LONGGGGGG the process will take….
Hopefully by the time themselves and WW get registered, my garden would have bloomed…..oh boy
JK said
any one get a email from don blue?
Jcan said
In an extraordinary development, the International Monetary Fund (IMF) announced late on Monday that it was musing over proposals to sell some of its gold reserves as part of radical plans to bolster its troubled finances.
http://www.actionforex.com/latest-news/us-economy/imf-planning-$6-billion-gold-sale-to-bolster-finances-2008040841521/
Jcan said
The first main group of influential Forex figures includes the people who run the world’s most powerful financial institutions –…….
Warren Buffet, CEO Berkshire Hathaway created a buzz earlier this year when he entered the Forex market after a 2 year hiatus and then announced he wouldn’t disclose which currencies he was buying until next year.
http://www.currencytrading.net/2008/top-25-most-influential-people-in-forex/
Leaving Babylon said
The IMF is not the concern. The FATF is the concern in how aggressive they are going to view any foreseen terrorist financing – look up their February 2008 report. The concern with all of this money laundering talk is how anything can be construed as terrorism or laundering. It’s as if someone shouts “Conspiracy” you’re mocked, but if someone shouts “Terrorism” the whole globe stops spinning and our legitimate funds can be put on hold for an almost indefinite period.
I still have hope as I have a hard time seeing Lewfam and Olint lurking off like these other creatures, but oh boy will there be changes. There assuredly will be changes.
FYI: The FATF received their enforcement power from the United Nations Security Council Resolution 1373 in the year 2001. If your country is a UN member, be apprised that the Security Council’s decisions, by member status acceptance, takes legal precedence over your home country’s national sovereignty and laws.
JK said
is the imf an world bank cause free education to be stopped back in the day
dont u think they can make these things stop
honestly right now is a wait and see game
unreal_investor said
IMF fighting against President Bush and biofuel as well…
unreal_investor said
IMF fighting Pres. Bush too over biofuel…
nick said
@ JSM
Am planning to buy some stock on the jamaican stock market now. Do you have any ideas of the best to buy now.
Thanks
Opportunity said
Carlos Hill case put off until mid June
http://www.radiojamaica.com/content/view/8092/26/
JK said
from imf fighting these clubs it aint good
but only time will tell
RedP said
I wish I had shares in Tankweld Metals. Steel gone up again, sixth time since year start, yuh soon see nog house and mud hut start build back again to rahtid. Maybe one should invest in steel companies like defasco or supm.
923 Overchill, jus chill dude yuh cyaan mek Jay get to yuh so.
926 JK, what shyte?
RedP
concerned said
the fan stop spin????
JK said
look like the shyte hit the fan
unreal_investor said
DH LOL Good one…
DH said
Brap Brap post 923
Overchill said
Shut up jay,
You just have to comment against anything anyone here says.
You’re just too much, get a life will you.
HBJ said
Re: JSM @ 919
Do you have anymore insight on good trades in the local stock market?
Opportunity said
What is negative about JSM’s post? He did what was best for him at that time. (Luckily he could get his payout with out undue wait, it seems.)
It’s called profit taking. Happens all the time. Right where I am, investors were busy converting to cash, in the first quarter because of the volatility and uncertainties in the markets, be it stocks, commodities or fx.
jay said
JSM @919.
Well, what can I say.
They may ask the “driva” to delete your post as you taking “nagative vibes” to the blog.
You are brave man to make that post
JSM said
GOOD DAY LADIES AND GENTS:
Just a comment on Post # 825, JAY:
Many of us who are involved in the HYIPs are aware of other Investment methods.
For close to ten years I have been investing in the Jamaican Stock Market.
Check back in the Archives of the Blog. On Dec.7, 2007 I posted to everyone to buy Gleaner. At the time it was trading at $2.80. I said in my post that it will be at $4.30 in thirty days. That would be a 53% gain on your money in 30 days. GLNR closed at $4.30 on Dec. 14, 2007. I don’t believe anyone on the Blog bought it. I made VERY GOOD MONEY on the trade. Couple weeks ago I bought MFP at $2.05, the broker at DBG asked me why am I buying so much I told her wait and see. Today MFP is trading at $2.50.
Why am I saying this. Its not that we are not aware of other forms of Investing, its just that as Pat says some of us are HIGH RISK TAKERS/MAVERICKS.
When you are given the chance to compound money over a period of time that is creating true wealth. I cannot speak for everyone else but that is the appeal for me in the HYIPs.
Look in two weeks all the waiting and anticipating will be over at least for OLINT.
I had a “Couple Dollars” in OLINT thru FGI. In March I pulled out.
I said then that in Light of how Muddy the waters are those who can afford to should stay on the sidelines until the End of May. I am aware that there are those whose Principal is still at Risk. But for those who was not in at the time I said wait. I took a Trip to Jamaica two weeks ago and came back with some Clarity on the direction of OLINT but still witht the knowledge that we have to wait until the end of May to see which way things go. here we are with two weeks to go. Not a long time to wait.
Sometimes its not bad being a Benchwarmer. In this case you cannot get hurt on the sidelines.
danews said
Olint does not have much money with NCB. it kinda similar to Cash Plus, that when NCB give them back their money, it was very small.
if Wachovia free them up, then there will be about 5 months worth of (back) withdrawal reaching them at one time, that will put them in a tailspin.
jay said
DR & Opportunity .
Well I am glad you guys have seen the light and share my own views.
Hope the other will too, soon face up to reality than continue to live a lie.
Guess my job here is done
Opportunity said
The name of the game now is wait and see. All the speculation and permutations done. So until there is new developments….that is why things might be quiet now.
DR said
I repeat the climate is not good at this time, NewComers stay away from all clubs!….Too many clubs & Ponzi’s have crashed recently, one man even committed Suicide…. Too many traders have migrated…(hint)….
Besides, I heard from as early as three months ago, that the international banks are AGAINST the schemes in Jamaica, and it was said in court in the case The Lint vs The WOLF.
If you are in a club GET YOUR PRINCIPAL NOW (if you can):
I say unto you all, he who has ears, let him hear what the social butterfly has to say: This could be my last warning….Sorry to say but we all need to THINK & CHECK (((( I know it is not like me to speak so negatively…but I have to face the truth.
Peace be unto you….. I still think we shall overcome…but please get your principal as fast as you can…. You can then leave the interest to turn over.
jay said
Floridan @908
The board is “boring” as folks are out their biting off their finger nails hoping they can collect their redemptions before the brown stuff hit the fan.
They are silently reading the blog, hoping for any sign of good news.
People like me is more about the truth than information to “make people feel good”. The problem is most would rather hear the latter than the former, even when it is clear that they may be on a sinking ship.
I have heard Pat and other say “only invest what you can afford to lose”, and clearly most did not heed her warnings.
They cannot sleep at nights, can hardly work without sneaking in to see what is being said on the blog, as they are “scared” as hell right now with the prospect of losing what ” they invested which they could not have afforded to lose”.
The “big men” have taken their monies and left, and now its the people who can least afford to lose are left struggling to find out what the heck is really going on.
Ahso it go.
Small man always get squeeze in these schemes.
It is a continuation of the largest transfer of wealth from the poor to the rich than I have ever seen in this countries history.
Wise up and “tek weh uno self” from this type of exploitation.
Is not me who is the problem, its the Mr Bigs ; they are very happy to separate you from your cash and the cycle continues.
Leaving Babylon said
My previous post didn’t make it to the board. I’ll summarize:
Forex Rookie – Olint is moving operations banking not their trading platform. Belize is far more sound of a banking jurisdiction than Turks Caicos (in the eyes of the regulators – go to IMF’s website).
JK – Thanks for the post, but that article is so weak. The “comments” by NCB about how they spoke with another bank that also won’t do business with Olint… gee like that’s surprising in the wake of the Patriot Act. Oddly enough WACHOVIA IS STILL WORKING WITH OLINT (see O’s new wire instructions).
SnB – You’re alive brudda!
OK, if you guys see a similar post from me that’s just the longer version. Good night.
Leaving Babylon said
JK – What do you make of the line:
“Mr. Hylton said the International Monetary Fund has also expressed concerns about schemes such as OLINT’s.”
I find this pretty lame since the concern their speaking of is not a comment against Olint, but any private club so to throw this out makes it appear that the IMF is against Olint.
Forex Rookie – The trading platform (gateway access to the prime bank Forex market) is different from their normal banking operations, but why their moving banking from Turks Caicos to Belize is an interesting question. Here’s my geuss:
For one thing Standard and Poor’s upgraded Belize’s sovereign debt rating to a ‘B’ and Turks Caicos invited the IMF to do an assessment – the report completed in August of 2004 http://www.imf.org/external/pubs/ft/scr/2005/cr0524.pdf
This assessment was not a favorable one, albeit rightly conducted at Turks Caicos request such that they could receive input from the FATF. However, one of the more serious findings was that their current structure and policies made money laundering all too easy. I would no doubt guess that Wachovia WHO IS STILL WORKING WITH OLINT (((Attn: NCB))) requested that they move to a more time tested jurisdiction for banking.
Belize does not have a superb reputation, but their banking sector has been growing, and they are a more tightly regulated environment that TCI.
SnB – good to see you’re alive brudda!
JK said
here here floridian
forex rookie said
I THINK YOU ARE RIGHT…ON THE WAITING TIL JUNE 1ST….I JUST READ RADIO JAMAICA. SO IS OLINT MOVING ITS MONIES SOMEWHERE ELSE TO TRADE.? ARE THEY IN TROUBLE JUST IN JAMAICA? OR AS A WHOLE IS OLINT SCREWED..HOPE NOT, HAD HIGH HOPES FOR LEWFAM AND OLINT..?DOES LEWFAM HAVE ANY OTHER TRADERS IT DEALS WITH OR JUST OLINT???
Floridan said
I really don’t understand why Olint don’t just stop wasting their time, but more importantly OUR money paying lawyers to win this case… From what I just read, and looking at it as a neutral (although I’m invested in Olint), NCB has a good case… Them nuh want Olint fi do nuh busniss wid dem… So why Olint a fight dem over dat???
If a man come to my house and me want him to leave and tell him the reason is because he doesn’t look trustworthy, right or wrong for me to make that judgement, but mi nuh trust him, what right him have to stay in my house if mi want him to leave???? Then to mek matters worse, him go call him lawyer fren dem to fight the case to be allowed to stay in my house… That mek any sense to unnu???
It certainly doesn’t to me… Look NCB want Olint out… Olint fi pack up and leave…
Or to make an even better comparison… We want Jay fi leave, yet him still a fight fi stay pon di board… Drivah!!! Mine him call lawyer pon yuh
And is true… Di board get boring from wha day… Right about the time Jay start post… But even if that is so… When FR was around and we all did a gang him and tell him fi jump off a bridge, the board did full of nuff vibes… Now it just get dead…
Ah lie mi a tell???
JK said
http://www.radiojamaica.com/content/view/8067/26/
things looking dim
TOBE said
forex rookie..my advice to you would be to stay away form all forex clubs until june 1. I hear that when business will resume as usual.
lewfam is one of the offshoots of olint.
carleena said
some how WW phones are not working of late i cant get to talk to a rep. is there any one that got through to them.
Jay said
Kevin,
What is happening, why post are taking such a long time to come through and some are’nt post at all.
A bug maybe?
forex rookie said
has anyone heard anything about lewfam club…want to invest some more money but want to make sure the ghost is clear with olint problems
JK said
bwoy it dead in eer
Sharonette said
Hi Everyone,
I have been ‘away’ from the blog for a while. The focus to a great extent has really been shifted. I still read, but not as religously as I did before. Sometimes I just scroll through and select which bloggers post to read, the foundation bloggers who I know have positive things to contribute.
To put it like 893, I lurk in the shadows…and if i dont ‘gat anyting to say, me kip mi beek shut.
Keep the faith …and remember to
Think..Check…Pray before you Invest
Stress now Blessed said
TESTING TESTING 1 2 3…….
Jay said
TOBE @ 898
Wha d I mean?
Mi nuh tink mi understand wha u a try get at.
RedP said
Jay
Wilshaw is a broker for Olint, there office is in JA but they’re really supposed to be working the smaller islands like Barbados etc. they make a couple percent off the top.
BTW my step mum was a teacher and she didnt have near as much free time as you. What gives?
RedP
TOBE said
jay
How is your youth(I think one is adopted or is steppie) and students…lol
G-Man said
Based upon what I heard yesterday the amount that has to be left in the account now is $5000.00
However I have not spoken to anyone at the company for myself so until then this is just here say.
I am going to keep trying until I get somone to talk to.
CS said
G-Man, I spoke to a rep last week when i went down there, and he told me the same thing. In order to join WW, you must have US$5000 minimum. After the first month of interest (month and a half, if prorated), you can withdraw as much as you want, but if you decide to leave US$1500 or less, you account is automatically closed. So if you have US$15000 at WW, you can request up to US13499. If you request US$14000, they will close your account and give you your US$15000. That is what the rep said, so i have to take his word for it.
G-Man said
Re: World Wise
I was told by a friend yesterday that WW will be closing out accounts with balances that are less than US$5000.00 .
Can anyone confirm this.
Have been trying to call them but not getting through.
jay said
Pat @ 885, good post.
Cdk@887 & 886. What can I say. Guess you are still waiting on your redemption to “tek weh u self”.
Just give DS until the end of the month and you too will be happy like those who have already received theirs and disappeared.
Just Passing Through said
# 888
I saw that report last night. The details of the report have not been released. That was the newscasters spin. In fact he said money has been found, how much is not yet known.
I read here all the time but never post, but I can see why so many are upset. People not telling it how it is. Too many propoganda machines churning out info.
Anyway…back to my lurking….carry on.
danews said
interesting i am trying to make some post, but its not getting thru ?
will try again
lease people speak for yourselves, don’t say we all want/do not want to hear what Jay etc wants to say.
we all have our money invested, give us some credit for wanting to make up our own mind.
very ironic , that people who are strong supporters are PULLING LARGE SUMS OF MONEY !!!
they support, and if they get their money, they DISAPPEAR from the blog !!!
talking to people, they are fearful of whether they will lose their money. granted, this shows that most are not really ready for the HYIP, they say yes, but in their minds, it is almost like a sure thing
danews said
Here is my thoughts
Please people speak for yourselves, don’t say we all want/do not want to hear what Jay etc wants to say.
we all have our money invested, give us some credit for wanting to make up our own mind.
very ironic , that people who are strong supporters are PULLING LARGE SUMS OF MONEY !!!
they support, and if they get their money, they DISAPPEAR from the blog !!!
talking to people, they are fearful of whether they will lose their money. granted, this shows that most are not really ready for the HYIP, they say yes, but in their minds, it is almost like a sure thing
PEI said
Yea Cdk please explain. you post a long thing one day about some letter and then disapear what a gwaan? good news or bad news bawl it out just dont bother with no rumor and them things.facts we want
danews said
testing. made a post.. did not see it
Bless said
Hey Cdk, How you say that Carlos Hill has the money to pay but the receiver manager say it not so
What a gwan?
CVM 8:00 News
Cdk said
I told you that Jay and FR are the same person. I have two questions to ask one is for JAY the other is for FR.
Jay: what is your other name is it FR?
FR: what is your other name is it Jay?
Please take your postings to your banks they might assist you to have them published in their Quarterly Financial Journal. The same Journals that are mailed to (the so call privileged; connected; sophisticated and elite) citizens and placed in the lobbies of luxurious hotel where the rich and famous congregate.
unreal_investor said
Jay obviously is one of those people who likes to keep showing up where he is not wanted… Must have no friends in the real world…Hush buddy, if you so annoying in cyberspace, cant imagine you in the real world…
Patricia said
I have seen posters here and others elsewhere asking what do you mean by “only risking what you can afford to lose”…..I can assure you no one here made that up. It’s a basic tenet of investing and repeated over and over by many so called investment gurus, along with the rule that you must seek to protect yout principal.
Anyway this is from FXCM:
Dear Trader:
Historically, managed currency investments have shown little or no relationship to stock market fluctuations. When bond or stock prices fall, currency prices show little or no correlation.
That means that a currency component in your investment portfolio can act as a buffer against drops in stock and bond prices. It may also smooth overall returns, in addition to reducing volatility and overall portfolio risk. Learn More
How Much to Invest?
Only invest risk capital—that is, money you can afford to lose. Investing 10% of your risk capital—stocks, bonds, etc.—in a managed currency program may be appropriate as it can provide the counterbalance that would help smooth returns—as well as lowering overall portfolio risk. Please note 10% may not be appropriate for everyone and we recommend you consult a financial advisor to determine what may be appropriate to invest.
Why So Little?
While a currency investment provides an opportunity for substantial gains, it does have the potential for loss. An investment of 10% of risk capital isn’t so large that a major swing in the currency market would adversely affect the returns of your overall portfolio. At the same time, we feel that anything less than 10% would not really be enough to provide meaningful diversification.
Which Managed Forex Program is Right for You?
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Minimum deposit: $1,000.
(This program began live trading in March and achieved a 14.19% growth. Results prior to March represent hypothetical performance results.)
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Minimum Deposit: $1,000.
(This program began live trading in April and achieved a -1.73 drawdown. Results prior to April represent hypothetical performance results.)
Sentiment Program
(Last 12 months [May 2007 - April 2008]): 18.25%* growth. (Live performance)
Minimum deposit: $5,000.
Sentiment Aggressive Program
(Since inception [July 2007 - April 2008]): 35.76%* growth. (Live performance)
Minimum deposit: $5,000.
View Detailed Results | Open a Managed Account
We welcome questions about any of these programs. Before we provide additional information, however, we are required to ask you to read and agree to our risk disclosure regarding investing in a managed program. Learn More
If you have any questions, please email managedaccounts@fxcm.com, or call one of our currency specialists, who are available 24 hours a day, at 646-432-2968 or 888-503-6739, ext. 702968
We look forward to serving you.
Best regards,
FXCM
Financial Square
32 Old Slip, 10th Floor
New York, NY 10005
646-432-2968
managedaccounts@fxcm.com
http://www.fxcm.com
DR said
Jay, Jay, Jay
I am realising that you are not getting what I am saying….
If I hear something negative, I will whisper it to a few, do a proper Due diligence test before I come on this blog and say it….
Please. Please. think & Check before……..ok sir/MAdam.?
JK said
and what of the big o and the leech in court?
Jay said
DR@879.
That is my problem with some on this blog.
If you have positive news you post, if its negative you “whisper it to just a few because I would not want to FRighten anyone.”.
Well there folks, expect nothing but positive post from most supporters. If bad stuff is going down, you will not hear it, unless of course the “detractors” pick up the news.
So if you are coming here searching for the truth from “investors”, think again !!
This is indeed a tragedy.
Goodnight all.
DW said
Respect, DR, nuff nuff.
ForexGuy said
Jay are you seriously throwing the Issa story at us again? That has benn beat down into the ground already.
I love how you claim that you “truly hope I am wrong for the sake of Jamaica”
If you really beieved that statement you would simply shut the f**k up and get on with your obviously lonely and pitiful existence.
No man with anything going for him in life, who does not even have a vested interest in any of these clubs, would waste precious life/time on this blog raving on about the evils of alternative investments. You truly have become the token crazy person holding up the ‘End is Near’ cardboard sign on the side of the street.
You need to ‘Think and Check’ your motives and your entire outlook on life.
This message brought to you by the FSC (Financial Sector Crooks)
DR said
876 DW, I am just waiting patiently for my garden to bloom….plus I am not like some other persons…If I have noting to say, I keep my mouth shut….. And if I have a piece of fact but its negative, I usually whisper it to just a few because I would not want to FRighten anyone.
I plan to attend an invesment meeting this weekend…if I hear anything that is worthy of posting I will…..
Opportunity said
Jay you are regurgitating a lot of stale news.Please dont think you are informing us. You really haven’t presented any thing new and your arguments on Olint are mainly empty speculation.Why do you feel you have to post something every day? Is there a competition on for the most posts? Take a break man. We will survive. Trust me your obsession is tiresome.
DW said
Jay:
Tek weh yu self…..enuff is enuff!
DW said
“Social Butterfly” where are you? we need some life in the place to bring back the vibes to this blog.
Jay said
Did the Issa’s withdraw a huge sum from Olint recently, which has placed the O in a precarious position.
Well thats what the folks on highyieldsource has been saying.
See the link here.
http://www.highyieldsource.com/forum/index.php?topic=253.15
Jay said
Another Forex Clubs with links to Olint. ?
The more you look, the more you realize how extensive this operations has become.
Read the link below.
http://dcilive.com/DCILIVE/Wilshaw_fx_prospectus.pdf
Jay said
Hindsight is 20-20.
Scams only truly become scams when they have been proven to be scams, otherwise is a mixture of speculation and conjecture. So while none of us had much proof while the scams were in full “swing” we all suddenly knew they were scams all along; after they collapsed.
Now with that said, I again repeat “investor” truly believed what they were being told about their “investment” until the entire operations were exposed to be what they truly were.
We get into these speculations and form opionions based on the little information we have and by completing a set of mathematical calculations to determine if what we are seeing is real or just a mirage.
So far the maths is just not adding up.
I truly hope I am wrong for the sake of Jamaica and the thousands of Jamaicans who are desperately in search of the “holy grail” for making money.
Leaving Babylon said
FYI – The new wire instructions are on O’s website and Hallmark is out of the loop.
Patricia said
Yes if proved that something is a ponzi then the law operate.stop the speculating and mixing up evrything together.
Olint is not Cash Plus.HW is a scam and now C+ too.
if you did your due diligence and still invest in HW or C+ and lose you can only bitter with yourself.
DW said
Ms P,
Like that quote:
“MONEY NUH STAY WHE MONEY NUH DEH”
Jay said
There is absolutely nothing wrong in taking risk, and I have never said ons should never take risk.
However the risk I am saying here, should be a calculated risk, one which you should take after very careful consideration, analyisis and exhaustive due deligence
Blind risk is something different, and one which is akin to gambling ie throw the dice and wish for the best. If you win good going if you lose “well a just so. mi could afford to lose it anyway”.
While there may be a few like the above who see “investing” in the “alternatives” as being in Las Vegas, there are many other who see the “earnings” as possible ecsape from their 9 -5, and are the one most like to be severely affected by this gamble”.
Does anyone on this board think that all those persons who lost in the schemes that have already collasped thought that it would ever happen, and did they all think that “its money mi can afford to lose anyway so a nuh nuttin”.
This is a fallacy, and right now all these folks are trying to determine what recourse they have under the law to get back their monies.
Just read the HW blog or any of the C+ blogs for example.
People are “bitter” about being conned of their hard earned cash.
If they had been involved in legitimate operations, they would have simply walked away saying ” well I took a risk and lost”.
In the cases of the failed alternatives, people now know they have been conned in a illegal operations and hence are livid and are demanding back their principal.
I think that all persons therefore who have profited should be asked to return all these “illegal” gains and redistribute to those that have lost.
That is the fair thing to do !!
Oneil said
866 what if
what if the azans decided to be regular employees rather and than business people?
what if butch stewart decided to an employee rather than self employed?
what if warren buffett didnt believe in buying stocks?
what if bill gates didnt take the risk in building software?
For risk takers the sky is the limit, while the employees of risk takers are the ones who settle for what they can get.
Yardman On Wall Street said
#865
Notable quotes. Patricia, you are waxing eloquently as customary.
Oneil said
re 863 PAT
I agree with u 1000%, nations are built by riskers takers, not by fear mongers.No risk no reward
If it wasnt for the calculated risk i took in the stock market and fx market, i would not be as independent as i am today. Fear is a product of lack of knowledge when u invest, u must know ur risk tolerance, and master the markets u trade, as risk is as natural as life itself.
If u are in a club that u are not sure if it is legit, i would reccommend only put in what u can afford to lose.
Patricia said
I’m a in a quoting mood…
“WISDOM IS THE ABILITY TO DISCOVER ALTERNATIVES”
“MONEY NUH STAY WHE MONEY NUH DEH”
and for the CAPITALISTS/RISKTAKERS/MAVERICKS amongst us…..
“GREED IS GOOD AND FEAR IS A BY PRODUCT OF IGNORANCE”
DW said
JK:
I think WW read my post, and realized how p…ed I was with them, they finally updated my account as of 4-30-08.Lets hope that this is a positive sign of efficiency and good business for the future.
Yardman On Wall Street said
#858 & # 860
Pat, I agree with you and Floridan 1,000%. I have been on Wall Street for over 18 years, and have seen investors lose their hard earned dollars via the NYSE, Nasdaq, ASE, OTC, etc; The Stock Market has zero guarantees also. “nothing ventured, nothing gained”
Floridan said
You know, maybe I’m being a little bit harsh on Jay… I mean, he has suggested that we should look into investing in the stock market for example… I agree, because as he pointed out, some of the stocks have some nice year-to-date gains, and as we all know, you can’t lose off of stocks because they always go in a positive direction and as such, you can’t lose off of your investment…
Yeah, right…
Maybe I’m wrong, but aren’t stocks and forex similar in that you buy “units” in either of the two in anticipation of said units appreciating in value and if they do, you make money, but if they don’t and they actually decrease in value, then you lose money…
As to disclosure and audited accounts, etc., don’t some of these companies on the stock market use globally recognised and reputable accounting firms, yet back room sheningans like insider trading happen regularly and stocks tumble leaving those who weren’t in the know losing loads of money and those who knew, cashing in and laughing all the way to the bank?
If you ask me, the stock market is pretty much like a Ponzi too, so I guess what we should all do, is work hard, get your pay check, cash it in at the bank, go home and then stuff the money under our mattresses…
That way, the only risk we are taking is if gunman come to rob and kill us.
ForexGuy said
Well said Pat!
Patricia said
Jay what’s the point of all the “analytical speculation” ? If it goes under, it goes, and then what?? Do you honestly believe that if monies are lost people expect a bailout??
People took a risk. That’s it pure and simple.I ADMIT, that some who did shouldn’t, for a number of reasons. But they did.
I for one believe that “ACTION MAKES MORE FORTUNE THAN CAUTION”.
brian said
and one more thing>
I think Jay need to kill himself if the things not going to be like he was always telling us.
I strongly believe that Jay is also posting as a different person.
That is just my guess.
jahbilly said
855 Carleena
Don’t worry Carleena, you will get your money. I got my 30k in february after about 3 weeks. My friend got his 100k in less time than me. I really think those people are honorable folks. Talk to the office manager. She will help you.
brian said
Jay:
I think you have no idea what you talking about.
Olint or any forex trading company cannot be compared with cashplus.
I think you just miserable because you never invested with olint or others.
Leaving Babylon said
Jay – Man that radiojamaica article was about worthless wasn’t it? I guess that there’s nothing to report yet so they just gave us another summary.
Re: 3 & 4 – This is a way to affirm a “hard stop” policy. We want the broker dealer involved in this process, where we are not simply relying on traders to keep their word (honor contracts), but forcing it at the source (no money = no trading). There is no LPOA between the fund’s client and broker, because the fund has custody and therefore the fund has it’s own LPOA with the traders.
In fact here is a quote from one of my traders this morning: The company will only be used to execute trades by way of power of attorney. I will have no access to client’s funds, except my fees, which will be deducted each month, management fee at the beginning of the trading month and performance fee at the end of the same month.
This is the only way that we will work. All of our traders will have to give the fund full access and control at the broker dealer level and then I have to come up with the systems and controls that provide clients the best assurance and updated information. So I’m looking for advice on how to disseminate this information without disclosing the names of the traders and giving people the most accurate picture of the fund’s health that I can.
carleena said
is there any one who had a WW a/c and closed it.may be you can help me.when you see a minus figure on your balance online does that mean that your monies have been sent to your bank a/c…
Jay said
If Olint goes under, I think the exposure could be greater than CashPlus.
Why, because there seems to be so much other companies conducting forex trading on Olints accounts, which means greater level of persons are exposed through third party operations.
Now check out this company here, read carefully the frequently asked questions under forex, and see what you find. I will make further comments later when you folks have had the opportunity to review what is their.
http://pages.cashflowpro.com/prominentcapitalsolutions/index.html
PEI said
Enlightened I feel you still reading please say if people getting call to pick up there cheque.
Jay said
Another round of OLINT/NCB
http://www.radiojamaica.com/content/view/8003/26/
Jay said
Babylon@848,
Thanks for the clarifications.
Re: 1) , I am on board with that.
3&4) I would say once the account is down 10% the broker cannot trade on behalf of the client as the money is not physically in his possession.
Your comments was the broker knows .
Question, would the client sign over a power of attorney to allow the broker to trade on his/her account. ?
pete said
DBO what numbers are you talking about have they posted gains for this month?
dbo said
anyway get numbers on MD
Leaving Babylon said
Thanks RedP – As far as my earlier question goes to disclosure, I appreciate any feedback, but must say that it’s difficult to find the right fit across the board. I won’t post concerning this matter until I have a web site up and then you guys can rip it apart for me. Unfortunately the best method is going to be to start with a fund that is only for high net wealth people, but I will move on to the next phase almost immediately after this launch.
From what I understand this NCB matter is going to be meaningless, however tomorrow this blog will be full of nonsense about how Olint is over, ponzi, etc. and for what?
Jay – I think you misunderstood my guarantee comment. I’m talking about using a bank guarantee to accomplish a few things:
1) Investors know $X is in the bank;
2) The broker respects this bank guarantee so much (AAA) that they are willing to allow my traders to view the account as notionally funded;
3) The funds are segregated from the traders for additional safety; and
4) The broker knows that if a down turn occurs to halt trading because them money is not physically in their possession (added assurance versus catastrophic loss – 10% of principle max.)
There are some other advantages, but I truly was hoping that I would get more positive feedback simply about the willingness to provide audited reports. In the wake of the Arthur Anderson trial, maybe that’s not enough for people anymore?
RedP said
Guys, I was just relaying what was told me. Now it is either the truth or a lie, only time will tell. I personally feel that it is the former.
If a lie,well super dave a scam,a just so. If the truth, a lot of ppl will be laughing and quite a few will be crying cuz a good number are gonna be cut from the club.
I have heard that ppl have already started receiving e-mails to pick up encashments, can anyone confirm??
RedP
Firecracker said
Hello anyone has info on forexautopilot? Is it a good program to use? Any info will help
ForexGuy said
I speak only of OLINT above, as that is where my affiliation lies.
ForexGuy said
Post 834 Jay asks “What going right?”
I was referring to the fact that people are being paid now every day, and soon all these trouble will be behind us. I think that means something is ‘going right’!
JK said
anything on WW?
Tony said
JK and jay the blog looks quiet but plenty members talk by email and even by phone. The flow continues just by different means.
I heard that FSC says no application has been filed by O and they are still warning the public about investing with Olint and LewFam.
JK said
quite alot!! lol
well i hope all pan’s out well i know 2 people who thanks to olint living the LIFE
both with 07 bmw’s bought new
and both with houses!!!
i aint in O
but i wouldnt mind being able to be just comfortable
Jay said
JK.
I wonder how much of “investors” money have been used to feed these lawyers ?
JK said
@ jcan…….thats good to know ….as long as ppl getting their funds
@jay…this case is very long and drawn out
if i were ds i would sever all ties with ncb long time
Jay said
Yes, that is when the judge will decide on their on going battle with NCB re: closing of their accounts.
They had received an injunction until that date.
“NCB barred from closing Olint accounts
From the Jamaica Gleaner published: Thursday | May 1, 2008
The National Commercial Bank (NCB) has been barred from closing the three accounts of investment club Olint Corporation Ltd until its appeal is heard on May 12. “
Jcan said
“As significant as political, military, educational or religious figures may be, none compare to the impact made by mothers. Their words are never fully forgotten, their touch leaves an indelible impression…..the memory of their presence lasts a lifetime. I ask you, who else has that kind of influence?” Wishing all mothers of this blog a wonderfull mothers day….
Re WW and recent encashment…I know someone who received a 6 figure in the past 2wks…The request date I am not sure.
JK said
tuesday???
wat a gwaan then? olint?
Jay said
JK,
Folks are nervous. They come here and view the post seeking information but they are not posting.
In some cases, some of the most vocal may have now received their redemptions, so they have nothing more to contribute.
As more and more of these folks get their funds, they simply disappear.
Tuesday is the big day, guess it will be very busy after the court ruling
JK said
whats going right?
ForexGuy said
JK, thats what happens when things start going right!
JK said
in here is getting too quiet
DR said
Carleena, I don’t think any club will be registered this year with the regulators….It does take a while….and even if they get pass ‘The Rope’, they will have a major problem when they get downtown to approach ‘Derrick-Lat”….(ouch!)
Have’nt you notice that even clubs that were speaking to the regulators…with a view to applying have not applied….and even one ponzi has closed…..ha hah and they were “speaking” to them…Remember they even stopped the case in court because they had decided to apply…..ha ha h ah
It’s all a joke…. There must be a reason why DonBlu has not yet applied….he promised he would not take any money from Jamaicans until he is registered….Where is the application?
There is something that the public nuh know.
carleena said
what O will soon be registered with the FSC.sounds good. but i wonder if this make sense look how long WW have applied..
Oneil said
re 825 RedP Says:
May 10, 2008 at 8:16 pm
.
“”He is very thankful of the support that he has gotten from members and the icing on the cake is that he is very close to being registered with FSC.”"
Red p me tired fi hear allthis fart, close to being registered doesnt me he even has submitted anything, bullshit
carleena said
any one get their money from WW.
RedP said
Hey guys, dont have much time, in the process of moving and just borrowing a pc to post this.
Just saw my cousin who met personally with Super D last week in turks. Everything on stream for mid to late May. some changes coming eg. one encashment /month(dont knoe if any limits. Might be offering those mems. who were loyal B accounts, in process of revamping mgmnt and bringing it up to scratch.
The run was approx 700mil, put wachovia in a tizzy sent red flags up to the feds.
He is very thankful of the support that he has gotten from members and the icing on the cake is that he is very close to being registered with FSC.
Might be hearsay but my cuz never carry me wide yet. If him seh so, a so it go.
More time, gotta run, will catch up later in the week.
RedP
concerned 2 said
Has anyone got info on why MD is taking so long to Post april’s intrest
Jay said
Floridan,
Actually I rarely do business with the bank and only use than to pay certain bills.
If you read under mutual funds and stocks, and Patrica post and eeven Living in Babylon, they have pointed to areas other than the “alternatives”.
Take investing in the local stock market for example.
YTD Performance
Cable & Wireless 14.71%
Jamaica Boilers 20.53%
Grace Kennedy 22.6%
Supreme Ventures 45.8%
Other notable performance
Mayberry is up 105% in 8 months. Hit a low of $2.35 July 2007 and went as high as $5.18 on 18th Nov 2007 ( 120% in 4 months!!)
So as you can see there are other opportunities.
LeeChin made a big buy with Visa IPO ($44 per share) which now is $82.86 on friday or up 89%.
Yow : Mi nah try fight down “living babylon”. Mi just a tell d man what mi think. How cum none a unno nuh even respond to d man questions dem, so who nah support d man.
At least mi a tell him what mi think and im might not agree, but mi respond, and all now nuttin from unno”.
Floridan said
Jay… You know what??? Just left yuh money inna one bank and leave us and our Pyramids and Ponzis because it seem to me that none of what we are investing in can stand up to your requirements… So leave us alone and go put yuh money inna “Leeching” bank.
In fact, since yuh want so much disclosure, why yuh don’t go and ask Mr. Leeching, what was the source of his ORIGINAL funds and get back to us… Some of us older people on the site know what me a talk bout and it burn me to know that after a man like that, who know where him coming from and what him do to get where him reach, him start fight everybody… Anyway, as them say, God nah sleep.
We see that LivingInBabylon trying a thing and asking questions as to how to make his product better and every step him take, yuh have a problem… So since so much problem inna every scheme, go put yuh money inna one bank since them so safe.
Jay said
Leaving Babylon.
I have no problem with the segregation of clients funds and therefore “protection” of 90% of the clients fund, but how could you guarantee this.
This assurance I would only accept from a third party ie an independent body – auditing firm, which is something you state would not be available.
Secondly, what recourse or protection would I have if the “managers” of the funds decide to dip into the 90% to cover losses and end up risking and losing my funds.
All I have is a ” statement of guarantee” which does not have any implicit protection, as there is really no governing or regulatory body to sanction the “hedge fund” if they are violating there own rules.
This means that I would basically bear the entire risk, regardless of what the document says.
The fact that I would be getting “statement” from the management team which could not be independently verified would not sit well with me, as here I am putting my full faith in a bunch of traders, many of whom have been found to be less than ethical in their practises.
The problem is I would only know this after they have separated me from my money.
While the SEC has no jurisdiction over hedge fund and its no longer mandatory for them to register, based on the court ruling which overturned the SEC Rules, many who had previously registered choose to remain registered.
Only a handful has opted to break free.
I would not only be looking for gains, but also principal protection or at least legal recourse if the principal decide to act with criminal intent.
Leaving Babylon said
I’m sorry, but the fund would not be registered with the NFA nor fall under the CFTC. In fact until significant court cases make their way to the Supreme Court the US is still divided as to what party even has jurisdictional authority over Forex. Title 71 claims that the CFTC has “exclusive jurisdiction”, which would seem clear enough to me, but this is not how the courts have ruled and the NFA will admit that they essentially have no authority at this point unless it is commodity & futures.
Most of my traders work out of London, Cayman, and Switzerland so I have no actual reason to open a domestic hedge fund. With that said, what information or documentation would help you determine the protection of principle? One issue that we’re looking at is to segregate funds at a major banking institution where they provide the broker dealer with a guarantee and the trading company is only allowed 10% of the funds (therefore the account is notionally funded for the full amount, but nothing disastrous could happen because the funds are segregated, the broker-dealer has agreed to limit the risk and the traders themselves have signed agreements with the company (us). We could perhaps provide shareholders with an overview of these relationships and a copy of the guarantee, but my problem is circumvention. Naturally I can’t provide total disclosure, because my traders do not want to talk with clients and I don’t want clients to know who my traders are – that would not be good business. So you can see this does provide an issue, but not from an auditing standpoint. I don’t have any problem in showing where the money is nor having the bank or brokers provide confirmation.
Thoughts?
Jay said
Leaving Babylon@820.
The fact is most of these hedge funds are secretative and in fact are not regulated by the SEC, based on a ruling by the courts sometime ago.
Not withstading that, I would at least like to see the following:
1. A prospectus detailing how the funds will be governed, rules ,management fees, law firm representing the funds, its accountant and auditing firm.
2. Next I would like to know who makes up the management team which will be managing the funds are and their track record.
3. The information above would allow me to check the CFTC website to determine if these persons had any “run in” with the regulators in relation to violations and actions that may have been taken agianst them.
4.Next I would like to know what are the risk associated with the funds, ie is any of my principal protected or do I have to risk in the hope of getting a substantial return on my funds.
If I cannot get what is mentioned above, I think I would stay away.
Leaving Babylon said
Jay – I was asking a Q about a statement you made about transparency a little while back. If you had an investment opportunity that you were interested in, but it technically could not grant “custody” in the sense that a managed account operates, because the fund was not a broker-dealer, what kind of paperwork, reporting, etc. would you consider to be solid and transparent?
I’ve worked these issues out for myself, to ensure that the fund will always have access, custody, etc., but my Q is how do you think that security should be communicated and passed along to clients? I’m looking for ideas, because as I said in an earlier post, “If I can satify this crown, I don’t anticipate anyone having a problem.”
For those of you not following, just realize that no “Hedge Fund” offers anyone “custody”. The very nature of a hedge fund requires that the fund manager combine investor capital to make investments on behalf of the fund.
Thanks
Jay said
Dr @ 818I could not agree with you more.
Did read Lisa post above@ 809. Exposed to not one but three(3) alternatives, that is certainly not diversification.
Lisa I do hope things work out for you and you able to get your money, and please Never do something like that in the future.
Thats is just too much money to risk in investment schemes where there is absolutely not form of transparency.
Now WW is having another run, will they pull thorough; I certainly hope they do for the sake of those having funds all “tied up”.
DR said
Patricia, I think “that lady” is Mr. Perkins best friend….She has been calling him for years….oh boy…. sorry to hear that she lost “Express-ed Money”.
I maintain that the climate is SOUR….all clubs seem to be having a problem or are about to have a problem…. Stay away if you have not joined….If you are already hooked, then withdraw your principal – if you can get it.
Jay said
KeeKee,
I am not aware of such a revelation, have not seen any such report being made to the fraud squad not information coming from the fraud squad.
Have the police confirmed receiving any such reports ?
Patricia said
KeeKee, u know I heard a prominent lady, sister of a prominent leader also complaining about that very issue to Mr. Perkins.
That same lady also spoke about the big $$ the Bovells earned from O, and Bovell Jr’s mansion and jet in TCI and how the Bovells now were doing their own thing along with others elsewhere in the Caribbean. She had apparently lost quite a bit with Azan, and was just letting it all hang out on air.
keekee said
Jay re post 791 aren’t u aware that ricky azan also issued fraudelent check and was reported to the police so don’t mislead the blog info was on radio prominent lady from mandeville made such revelation.
Morde Behar said
RE Finanzas`Forex,
Anumber of people in my office participate and they seem quite happy with it. So far there remmitances are quick but you are only allowed one per month and its interest only. If you take back some of your capital before the fixed time, 6 months I believevthere is a penalty.
The group behind them is out of Spain, but they are all over and has offices in Panama and Switzerland. They are very popular in Colombia also. They have seminars in which they introduce you to the principals and their methods its quite open
carleena said
what is happening at WW. ppl cant get their payments,and some are over paid.big crowd this morning says tvj.any body know what is going on..
1956teach said
I made 1 call to WW and within 48 hrs my a/c was updated. do not wait for e-mail just check ur a/c. Yes ur money doubles in 6 months
DW said
Hope I am not being offensive to anyone by asking this question…. is http://www.FinanzasForex.com,a Ponzi or Pyramid?
J.A. Yute said
Pip Unit, I have been made numerous offers to buy the forex pilot but still a little hesitant. How long have you been using this software and how many pips it makes per week? Just wonder if it’s a worth while investment.
Lisa said
Ive been reading the blogs its still quite interesting. I have Money with three alternatives. i have not been able to get any money from anyone including the big “O”. However im optimistic bout O but very worried bout the other two. it a six figure investment that will see me popping out my hair. No update from MD as yet on my inactive account was told that they will do everybody in one batch so they are waiting till they have enough people.makes no sense but hey. There is a payout list that they say is done in chronological order of request so im waiting for christmas to get mine:-)
ForexGuy said
Supposedly the average over a one year period is just under 15%. But like DH said, I’m just looking to get all of my eggs out of one basket and spread things around. Plus….it’s a little more than i;m making now
DH said
PEI gains 8%
PEI said
Can anyone say what f1 platinum pay in April
DH said
Thats good forexGuy!!!!!! diversify
Vela Invest said
Beware of software:
http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/2255-4500-euros-no-refund-option-scam-not-scam.html
ForexGuy said
Re 801…good question. That would be great information to have from Pip.
Also, just to let you all know I filled out the paperwork for my F1 application today.
Yardman On Wall Street said
No longer able to turn their homes for cash, Americans are increasingly using plastic to meet their basic living expenses. But many can’t afford to pay the bills.
http://money.cnn.com/2008/05/09/news/economy/creditcards/index.htm?postversion=2008050914
Blessed Child said
Pip Unit
How much was that software?
What kind of returns?
Pip Unit said
I’ve been running Forex Autopilot for about 2 weeks and so far the thing it hasn’t had a loss yet. Has anyone else used this software?
carleena said
why is WW delaying payments when you close your acct,do they have the money to pay.
jay said
DH.
The heat is on all the alternatives and I do not see this changing anytime soon.
While this may seen on the face of it to be a bad thing, it actually may be a blessing in disguise for some.
It could actually make it difficult for you to send funds to a bunch of scammers if the banks has a watch list of scam site out their waiting to separate you from your cash.
My only fear is if these banks sometime in the future decides to block transfers to legitimate frims offering higher yield on their products than the local banks.
I do not think that this will happen however, but the thought is scary.
carleena said
has any one on the blog close their WW acct. of late and payments to be sent to their bank acct.on may 5th could you say if you receive the funds.
Townsend said
Can anyone provide any information concerning the authenticity of World Wise. A 12% monthly return is very alluring. has anyone had any problems to speak of? This blog seems to be in the “know.”
Mercury Vapor said
Thanks RedP and FuzzyOriginal!
DR said
DH, I would not be surprised if this is true….I always felt that the members of the B. Association could do something to STOP these clubs…Next, they will find a way to stop “Mutlilink”….. I wonder how they would stop visa or mastercard though?
FuzzyOriginal said
Merc. Vape. 789 et. al
WW pays 12% per month. Hence the 1.974 times you principal in 6 months, if reinvested. The rates are fixed. For additional information:
http://www.worldwisepartner.com/
DH said
I understand First caribbean has a list of entities that they will not be sending wires to or receiving wires from .
RedP said
Merc. Vape. 789
Im not a member but I believe it is 12% fixed. Could be wrong though.
RedP
Mercury Vapor said
To anyone who is a member of WW, do they pay a fixed percentage rate every month? Or does the gain/interest vary each month? If it is fixed, what is the gain/interest?
Thanks
FuzzyOriginal said
Although the ww accounts are not updated online, they are updated in the background. I took an encashment in March when I was there and the prinout they gave me was quite accurate. For people who are unable to visit the office this creates a problem. I guess this problem will go away when their IT dept becomes fully operable.
As far as the doubling in 6 months it is actually 1.974 times your money for people who do not withdraw. But it is always nice to secure your capital after awhile
Mercury Vapor said
Oh, also, it is clear that CH’s C+ was a ponzi scheme. I believe those are illegal in Jamaica…and well…everywhere else for that matter. Why? Becuase ponzi schemes always collapse after a while, and when they do, investors that joined near the end lose most (or all) of their investments.
Mercury Vapor said
Re: 785
Didn’t RA tell his investors that their money would be going into forex trading, and that is a high-risk investment? If RS lost money trading forex, well that’s life my friend. Forex trading is very risky, and those people should have known that they could lose the entire amount that they put in.
So, why should RS be arrested? He lost money trading forex…so what’s the point. Pete, did he defraud his investors? Did he tell them that their money would be put into safe investments? If he did this then…yes…he should be in jail. Do you know if he has committed fraud?
pete said
Can someone tell me why Richard Azan in not in prison and CH was arrested and charged?
DR said
Hi folks,
Yes I had to take a break from the blog…It was becoming too addictive…I still read as often as I can….. However, is anyone here affected because of “Careif’s problems”? I hope all will be well with them….Far too many clubs have gone under, Even the Ponzi’s…..
So why did the authorities take so long to look for MAX?
Isn’t he off the island in Jail?
Is the #2 Gilpin alive?
JK said
well i been in constant contact with them……im a customer who checks in once a week an always on them case suh i guess inorder not to bug me them mek sure update my WW ac
but i have a sistren with over 10k US who ac hasnt been updated since last year who gets her money constantly but the other day she got a statement from them in office stating everything she needs to know
i know for sure their IT dept is jus 80% up todate…….they still updating
RedP said
Patricia 779
My Big Bro has made some serious links in Panama and is considering offering asset protection services here in JA in the near future. Includes offshore jurisdiction, Secure, private offshore corporation/foundation. The foundation is like a steel wall, aint nobody gonna ever find out who is behind that, Everything is on the up and up and he is in negotiations with a reputable Panama lawfirm to be their rep out here. The whole set up can be done online except the opening of the bank account which has to be done in person but lawfirm reps will accompany you to the bank. Hopefully everything will be on stream by year end, I hope to start my asset protection next month. This govt. getting too grabalitious.Further, the entire process is highly efficient, what you get done there in hours takes weeks or months out here.
Leaving Babylon: Aside from NCB winning the case against Olint and making it difficult to do your encashments is the fact that they both use Wachovia as intermediate bank. What worries me is how that will play out if NCB attempts to dissuade Wachovia from doing business with Olint. Is that possible/probable??
Love Unu
RedP
DW said
Jk:
Did you post some time ago stating that your WW account had been updated? Well,I am still waiting to see my account updated for March and April,made contact with Jamille via C/S chat live, and was told that my account was not correct, she then said, that she would pass it on to the auditors and within 48hrs she would email me the accurate account balance.It is now 96hrs since my request and no email has been recieved.I have one thing to say to WW and its principal, “STOP THE PATTY SHOP BUSINESS OR ELSE”…….
Patricia said
hey Mr. Smiley how yuh do mi so
Patricia said
hopefully O can get past all this and move on to develop a members services section to assist members with issues relating to off shore banking, asset protection, taxes etc….hhhhhmmm may nees to send them my resume..LOL :8
Patricia said
Jcan so what happen, none of the money spent on weed wont benefit JA???? LOL!!
On O, I dunno mebbe the majority of members in Ja, so a local bank account is required for ease of members payments. I would think that wiring the funds to their account would work, not sure why cheques/drafts are necessary. A foreign cheque can be held 30-45 WORKING days for clearing. A draft is better but even that can be held longer than the 3-5 working days.
In any event I think it is inevitable that NCB will win. So then only options, I guess will be wire and card.
pete said
Leaving Babylon Says
Just Jamaicans using Jamaican banks
Leaving Babylon said
Q – Ja ppl, what will it mean to you and/or Olint to lose NCB’s business? I’m still confused on this one and it may be simply because I’m caught up here wit da’ bald heads in Babylon. In other words, I have to trust Olint via the Fed wire system to get my money anyway, so NCB doesn’t seem to effect me, but does it? Does NCB have any real bearing on Olint’s activities or this mainly an issue that will affect Jamaican banking?
I’m just mentally preparing for the wave of O attacks after the inevitable discontinuance of extensions upon extensions.
Mercury Vapor said
Thanks Leaving Babylon, you’ve been a big help. I’m grateful that you take the time to post on this blog and share your knowledge with us.
Leaving Babylon said
Mercury Vapor – Yes, this is what I mean by arbitrage. As you said, it is a single play and again this is only worth doing if your moving large amounts of capital. This could be as simple as borrowing a $100M worth of Yen at 0.5% and placing this in Iceland at 8%. My opportunity cost was only the 1/2 point in Yen borrowing with little to no risk on the 8% term deposit yield. However most people go much further out, such as investing 50 of the 100 in a wild collateralized mortgage tranche, getting burned in the sub-prime lending crisis, and then get stuck eating their reserves to pay back Japan.
JK said
mine doubled
Fancy D said
Has anybody had their interests at WORLDWISE doubled as promised in the original contracts? I am hearing from some people that it was a gimick and nothing nuh go so? Is that so?
DW said
Jcan
Good One!!!!! LoL
Mercury Vapor said
Thanks Leaving Babylon. The reason why I asked was because I read this article:
“While Alluring, Foreign Currencies Can Be Elusive”
http://www.nytimes.com/2008/04/05/business/05money.html?_r=2&em&ex=1207540800&en=3af60f57ab96d2d3&ei=5087&oref=slogin&oref=slogin
There is a part in the article where it says:
“Sophisticated traders with a lot of money sometimes buy foreign currency with a higher interest rate and simultaneously go into the futures market to sell it forward — meaning they contract to sell the same amount of currency at a specific price at a later date. In the parlance of such trading, that is a “single play.” The traders are insulated from a loss if the exchange rate moves against them, though they still reap the interest, said Peter Orr, a retired bond dealer living in Panama and Salt Lake City.”
When I read this I thought of a “carry trade.” But I’m not sure if it is…Leaving Babylon, do you know how someone would do the above trade?
Jcan said
Patricia, regarding Paulson’s US “Stimulus package/tax rebate, only a pity he will not see this junk email
Tax Rebate:
The federal government is sending each and everyone of us a $600 rebate. If we spend that money at Wal-Mart, the money will go to China. If we spend it on gasoline it will go to the Arabs. If we purchase a computer it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras, and Guatemala. If we purchase a good car it will go to Japan. If we purchase useless crap it will go to Taiwan …and none of it will help the American economy. The only way to keep that money here at home is to buy weed, beer, and tattoos, since these are the only products still produced in the USA . Thank you for your help & please support the US.
Jcan said
“Don’t mistake the U.S. dollar’s recent rally for strength. If anything, it’s a head fake of legendary proportions.”
http://www.moneymorning.com/2008/05/08/a-currency-conundrum-beware-of-the-u.s.-dollars-head-fake-rally/
Leaving Babylon said
Mercury Vapor – Understand that the Yen carry trade has been unwinding for a while now. In fact the new carry trade is coming to the US as more and more “payback” funds are flowing into the Yen. I would only recommend the carry trade for institutions moving large volumes of money to capture the safe arbitrage relationship, but for small investors this is really more of a new take on speculative trading where people are leveraging themselves into higher risk instruments with alleged cheap money. This money is not necessarily cheap due to the typical associated risk. Many people will disagree with this position, but I assure you this is not intended for small investors. The way small investors capitalize on the carry trade is recognizing the movement of money for longer plays, such as – expect the Yen to continue it’s appreciation against the USD. Therefore if you can “denominate” your managed trading account in Yen, you should expect it to be worth more by the year’s end due to the “long cash” appreciation versus the US dollar.
Floridan said
GetRich… P2P is NOT a Ponzi scheme… It is a Pyramid scheme… I posted the reason for the difference in terms a couple of weeks back…
The “fact” that they are paying people commissions on their referrals as you suggest is the reason that this p2p would be classified as a Pyramid scheme… If they were doing the same thing, BUT NOT paying commissions, then it would be called a Ponzi…
Got it???… Good…
(<— that’s cool)
Mercury Vapor said
To: Leaving Babylon
I’m not sure if you’re a forex trader…but you sure know a lot about forex trading, so I’ll ask just in case you might know. I’ve been reading about “carry trades” lately, that is where you borrow currency with a low interest rate (like the Japanese Yen) to buy currency with a high interest rate (like the British Pound) to make money off the difference in the rates.
I would like to know if you’ve ever done this…and if so, can you protect yourself from an adverse movement in the exchange rate? Maybe using forex options or futures is a possibility?
Also, for you guys that are learning about forex trading, read about the “carry trade.” A good article can be found here:
http://www.babypips.com/school/the_carry_trade.html
GetRich... said
#747
Anyone joining P2P now is taking a HUGE gamble. Ponzi in its 16th month now. I am kinda amazed that they are still around paying 60% a month for so long. 80% a month if you choose the 60-day plan. On top of the ridiculous ROI they pay continuous referral commissions of 10% of the interest your referral makes. Over 150 ppl joining everyday still so I guess that is why it is still going.
jay said
JSM,
I am not the bad guy, contray to what you think.
What have I said that is inherently wrong, just give me one example.
DH said
DH said
DH said
Patricia said
DH??, are those codes???
JSM said
Leaving Babylon, Post # 753: I read your article but what was missing was the part dealing with their financial statements. On the earlier Blogs I have written Post against FXCM and will continue to do so for those who odes not take the time to read the “FINE PRINTS” or who do not “READ BETWEEN THE LINES”.
Things will be better and JAY and All the “John Does” (sp?) will fade away.
I just came back from “Ground Zero” so I am rejuvenated.
Leaving Babylon said
If you guys are curious to see how serious inflation is go to:
http://www.westegg.com/inflation/
Type in the amount, the starting year, and the latest data will carry you to 2007 dollars.
For example, I wanted to see what $10,000 would be in terms of 1970 dollars and here’s the calculation:
What cost $10000 in 2007 would cost $1786.72 in 1970.
Also, if you were to buy exactly the same products in 1970 and 2007,
they would cost you $10000 and $54444.03 respectively.
Leaving Babylon said
Patricia – What’s so sad about comments like that from all those in Gov-speak is that they fully know how much these prices have to do with the declining US Dollar, but they do everything in their power to blame shift. There are only minimal “rising price issues” but there are major currency issues. The only reason you have collusion among the OPEC nations is because they are sick of being forced to denominate oil in US dollars, but Babylon needs this because it’s one of the main reasons that keeps other nations holding on to our currency (therefore propping up the dollar). In other words, if you’re Japan, Germany, etc. and you want oil, you pay for it with US dollars. This is why Iran keeps threatening to denominate their oil sales in Euro. If successful, even “friendly” countries would be eager to do so, just so they wouldn’t have to hold as many dollars.
Economic stimulus checks… it’s just more inflationary paper rolling off the press, but then again it’s only 130M or $23M in year 1970 dollars before Nixon took us the rest of the way off the gold standard. So again, in terms of the real issue – currency – Paulson has a real problem. Isn’t he lucky so many Sheep-ppl think 130M is still a lot of money? Baaah Sheep-ppl. Baah-ah
Patricia said
So, Leaving B, I quess you’ll get a different response based on who u speak to…Is it that Paulson thinks differently………….
United States Treasury Secretary Henry Paulson said Wednesday the worst of the credit crisis may have passed but acknowledged that rising gas prices will blunt the effect of 130 million economic stimulus checks.
http://www.jamaica-gleaner.com/gleaner/20080508/business/business1.html
Leaving Babylon said
Hey guys remember Jcan’s post from May 4th on the Fed Reserve going negative? Check this out, I wrote the creator of shadowstats.com to ask him for a little insight on this issue and he wrote back – very helpful:
Total reserves have not changed much, but the non-borrowed reserves, which is total reserves less bank borrowings from the Fed’s discount window has turned negative in an unprecedented manner. The borrowings include the special liquidity facilities that the Fed has set up recently, and it shows that the Fed is lending well beyond bank reserve needs. What the numbers indicate is that there are substantial solvency/liquidity problems in the banking system that are being addressed by the Fed. Given the Fed’s recent ongoing expansion of the facilities, one can assume that the banking crisis is not over. Best regards, John
Leaving Babylon said
JSM – Please read my post #730 – You need to know that FXCM burns through a lot of people and that, as they declare, their systematic trading is HIGH Risk. My sentiment aggressive account shot up 12% in one day and then did nothing but lose money for almost 2-months straight. If I would have got funds placed one day later, then I would have lost 12% instead of breaking even. Fortunately I did this with only 20k to monitor their system and evaluate trades, as you can tell it was a disappointing experience.
PEI said
AR, this is what they say about that declration and just a question why is your ears so hard? You not listening dont join no ponzi please teacher Jay say so so listen please.
Please be advised that we require a statement declaring the source of funds for margins being added to accounts in the amount from US$10,000.00 to US$39,999.00, and documented proof of source of funds for amounts of US$40,000.00 and over.
It should also be noted that proof of source of funds will be required for margins added to accounts over a one month period, totalling US$50,000.00 and over. That is, proof of source of funds is required for each amount that makes up the total of US$50,000.00 and over.
Failure to comply with the above will result in funds NOT being traded until proper source of funds documentation is received.
The term Source of Funds refers to the declaration of origin of funds being used to conduct business. For our purpose, however, it is providing evidence to support the origin/source of funds being used for addition of margins (which should include account number, name on account, cheque number and amount). This is to ensure that the origin/source of the funds is legitimate.
Leaving Babylon said
AR – It’s simply for you to declare the acquisition of funds: sell of a property, loan paperwork, check stub, etc. It could be a number of things depending upon the amount and may require a bank reference. If you are pulling funds from another investment account, just copy that distribution statement and that will be more than sufficient. If it’s under $10k don’t worry about any supporting documentation.
AR said
I am putting all the documents together for my ‘O’ application. Could someone please explain what the “source of funds declaration” is and how I go about getting it.
Thank you.
JSM said
POST # 729, O’Neil: What is interesting about FXCM is that even though they are regulated and they are a “Registered Broker” their Financial Statements are “Unaudited”. What does that mean? Just like Oxford, which sterted this whole Transparency Mess and Meltdown that reached its Apex with Enron they can be hiding things from Investors. I looked at them like a lot of us on this Blog did and did not get a “Good Feeling” after I saw that their Financials are “Unaduited”. What makes them different from OLINT? That is a question for you too JAY.
DH said
hello
chrisj said
Re post 699 (Rich kid)
I heard about this http://www.pathway-2-prosperity since about November of last year operating out of Canada but I was too nervous. I had spoken with a Jamaican who I met on this blog and he was with them for about 8 months and was very happy. I’m still not sure about them though. Is there anything new?
joejoe said
ForexGuy 741
High 5 figure internal transfer done from O to O-TCI in 4 business days
Was this done through the O web page or by some other means.
Rich Kid said
CS said
Why can’t i see my posts?
ForexGuy said
Jay, it seems that you will make sure they never put their money anywhere but the bank. Lets see how fast their money grows there.
ForexGuy said
High 5 figure internal transfer done from O to O-TCI in 4 business days.
dehustle said
Drivah
There someone posing as Jay @740 post has only two lines !!
Jay said
Forex Guys @ 739.
I make sure they will never put any money in a ponzi
So yes they are being helped.
ForexGuy said
God help those students.
Jay said
Pats posted a portion of this earlier.
Here is the actual link.
http://www.fxcm.com/docs_pdfs/Managed_Accounts_Monthly_Review_30Apr08.pdf
PEI – I do teach
PEI said
Mr Jay you not tired? are you a teacher you have a long answer to evrything. I going to get in trouble now cause you going to make a speech
Jay said
Oniel@ 728& 729.
I think this is precisely the reason why TCIFX is being created by Olint.
This existing system which exist now with Olint is an untenable one, and hence the reason a “new” system /new club is being created.
Just read the prospectus which was posted on this blog.
It gives some insight into the “new club”, which I must say is very good.
It makes it very clear from the onset that you should not buy “shares” if you are looking to have these funds to meet monthly expenses.
I like this new approach and it the right approach being taken by Olint.
Now it will be easier to make a comparison between Olint forex mutual fund and other mutual funds that exist, before making your investment decision.
Now I can compare apples vs apples.
By reading your comments above, it would seem to suggest that you think differently now about Olint, is that the case.
dehustle said
test
“8″“)”
Paige said
Leaving Babylon
I just had to try it for myself. Thanks
Paige said
I’m such a big kid. LOL
Leaving Babylon said
How funny, a “8″ and then a “)” apparently make a
Sorry, that was clearly supposed to be the year 2008.
Leaving Babylon said
Bredren. FXCM may be a registered broker dealer, but if you read my now ridiculously short home page at legacyibroker.com I will tell you that FXCM is one of the reasons I got out! Their advertising due diligence team would ride me for every word – fix this, change that, prove this.., but their own site is MISLEADING by according to NFA standards. Look at their new offering! It looks like they’re giving you a 5 year history, but you have to really look before you realize that there’s only one month of live trading and it’s NEGATIVE – yet they can boast a 80% year to date return. This is a joke and its’ completely wrong.
http://www.fxcm.com/managed-accounts/managed-accounts-programs.jsp
Last 12-months (May 2007 – April 2008)
*Results depict both hypothetical and live performance.
However they want to slice it – this is a fine print job. You should see the ***WARNING*** signs they wanted me to make, because I was posting traders other than them self. If you are not aware of how this stuff works (which is why the regulations exist) FXCM is the place to get your wake up call. They run a system up with this hypothetical back tested baloney, money rushes in, people get burned, as money starts flowing out a new system is introduced – “Oh, wow look at this one! Pretty!”
Buyer Beware
Oneil said
re 727 JAY,
It is obvious that u are comparing apples and grapes , two different companies.
FXCM is a registered fx broker, which offers managed accounts to the world. They dont have access to spend ur money , they just trade ur account, win or lose.
It’s not a “scheme” or alternative investment or ponzi or scam, they affairs are regulated, nothing to hide, unlike the schemes in jamaica.
Oneil said
re 727 Jay, FXCM is not scam/investment schemi/ponzi, ITS A REGISTERED FX BROKER IN THE USA, WHICH OFFERS MANAGED FX ACCOUNTS. U comparing apples and grapes to different situations
jay said
Patrica.
Now if this was a Olint account most “supporters” on the board would ask for the post to be deleted.
This is the type of disclosure, which I am comfortable with and one which at least allow for review and assist in the decision making process.
Continue to post this type of information.
The interesting thing I find however is that most of the “ardent” supporters does not respond to these types of post and I am left to ponder why.
I will however refrain from stating the reason I they are so quiet when you post information like the above.
Pat & Babylon “big up”.
Patricia said
FXCM Managed Accounts Programs As of April 30, 2008
Market Overview
April saw a lot of pairs make fresh new highs for the year. EURUSD hit 1.6000 towards the end of the month though has currently fallen from that level. While volatility is still historically high, it has been waning over the last month.
This was the month in which the EURUSD SSI became positive for the first time since October of 2006.
This was also the month in which we saw the third consecutive month with a negative Non Farm Payrolls number. Many cited this as the prime example of why the US is currently in a recession. As such the Fed ended the month with a 25 basis point cut to leave the rate at 2%. This month also saw the YoY UK Housing Prices go negative for the first time in over 12 years. This may have been one of the reasons why the BOE enacted the second 25 basis point cut of the year to bring their rates down to 5%.
Program Performance
Sentiment Programs
After staging a rally last month, Sentiment gave back some of
the gains as it slowly declined through the month. For the month of April 2008, the Sentiment Program ended the month at ‐2.12%, while the Sentiment Aggressive Program finished at ‐4.02%1.
After a great performance last month, the trending component declined slightly this month.
USDJPY and USDCHF performed well as we took advantage of the dollar gaining steadily over the month. However they were not profitable enough to overcome the losses in the GBPUSD and EURUSD, both of which were very volatile but did not establish clear trends.
EURJPY was the most active pair in the ranging component as it rallied strongly for most of the month before reversing near the end. EURAUD also added to the draw downs toward the end of the month as the Australian dollar has been steadily strengthening against the Euro over the last few weeks.
Short‐Term Opportunity Program
The new Short‐Term Opportunity Aggressive program ended its second live month with impressive results, finishing at +12.61%1 for April. Once again, the short term component was the star performer for the month with both the ranging and breakout components ending profitably. GBPJPY was one of the most profitable pairs in both systems as it caught the breakout and reversals in the pair successfully over the month.
Performance Analysis1
For the month of April, 2008
Sentiment
‐2.12%
Sentiment Aggr.
‐4.02%
Short‐Term Opp. Aggr.
+12.61%
Barclays CTA Index
+0.01%3
Avg Monthly Return
1.56%
3.52 %
7.00 %
6‐Month Return
‐3.06%
‐10.82%
N/A
Max. Eq. Drawdown
‐10.75%
‐22.39%
‐4.33%
Year to Date2
‐7.05%
‐17.25%
14.19%
Monthly Std. Dev.
3.73%
9.7%
7.93%
Winning Months
12
6
2
Avg. Monthly Gain
3.52%
10.10%
7.00%
Losing Months
6
4
0
Avg. Monthly Loss
‐2.37%
‐6.35%
N/A
1 Returns are net of management fees, gross of performance fees and are calculated on a daily basis. Multi-month returns are compounded to show the cumulated returns over the periods indicated.
Island Girl said
Leaving Babylon I think you should also restrict the amount of withdrawals in your fund. For eg. one withdrawal per month per account as many persons are making far too many withdrawals per month.
I agree with Mercury Vapor that most persons will not read report. However, it would be good to have the option and who want it could pay a fee to get it.
jay said
Pat@ 721.
You are precisely right in your assessment on borrowing..
We all borrow at sometimes in our life to invest eg Mortgage .
We however have met certain rigourous requirements from our lenders(Not subprime) in order to prove to the lender than how monthly income stream can make the required payments.
The problem as you described in your last paragraph is while in the case of a home, which is considered to be longterm investing and which tends to appreciate over time, some folks actually believed that placing money in some of these firms was true “investing”.
Its people like yourself who is not considered a detractor as well Babylon and other who post some rather good materials that will help stop this madness.
It is rather unfair that a few people win while the majority end up being a loser and cursing themselves ” not on the decision to “invest” per see, but on the timing of their investment.
I do beleive that anyone who profited from a fraudulent scheme should be made to refund all “profits” which then should be used to pay those “investors” who lost everything.
I know this will not sit well with some, but I truly believe that this is the right thing, as a lot of who invested with the “alternatives” that crashed and who made a “profit”, actually knew they were ponzi’s and thus should not be allowed to walk away with any “earnings” from these illegal operations.
RedP said
Patricia 721
Bwoy Pat a luv yuh, if a wasnt married to a fantastic lady a coulda check fi yuh!!:) Yuh dont want to turn my personal financial advisor?? Ah wont tell George!!:) LOL
Leavin babylon 720
I would suggest the ablity for investors to be able to access the principals of the fund by phone easily from 9-5 mon to fri, not a c/s smallfry that is like a stuck record.
Weekly posting is good.
A quarterly meeting with investors would be a plus.
Transparency a must.
Just my 2 cents.
PS. Patricia721, God says that the borrower is a SLAVE to the lender, ergo my opinion on borrowing. Slavery dun long time(except mentally)! I do however see your point. But mi no so brave!!:)
RedP
Mercury Vapor said
Hi Leaving Babylon, regarding the fund that you’re going to start. Firstly, I think…and I’m just speaking for myself…I would like to see a rate of return of 40% to 50% per year. From what I’ve seen in the managed forex accounts, the ones that try to make 100% returns per year are far too risky. The traders use too much leverage and make large losses in some years.
A weekly commentary of the trades would be a good idea, however that would be an added cost. You would have to charge your investors more money, and I personally would not want that. Most investors are not going to read the trading report anyway. So I don’t think you should do that, or offer it as an option. If some investors want a weekly trade report, offer them…but charge them higher fees. I would want to see low or moderate fees for your fund. Some funds charge a 2% management fee, as well as a 20% performance fee (Eg. FXCM Aggressive Sentiment Fund). I would want to see lower fees, maybe a lower management fee of around 1%, I think that would be resonable.
Patricia said
Well RedP, borrowing to invest per se is not wrong, and can have its tax benefits. To some extent I believe in using other people’s money to make money.
Now it is what you do with those borrowed funds…that’s where due diligence,prudence, risk mamngement etc all come in to play.
It can be hard to acquire significant gains by simply using your after tax dollars, (net of your expenses) to invest.
On that point I have heard of plenty people going for broke by borrowing, esp against their home, to invest in these clubs/schemes/scams…and not being able to pay back those loans.
NOT A GOOD STRATEGY, worse if they dont have the income to service those loans. In fact, its just not a strategy, but a recipe for disaster.
Leaving Babylon said
Q – Since I’m trying to form a fund that will make an accommodation for smaller investors, what are the kinds of things that you guys would want to see? I figure if I can satisfy this crowd, then no one would have room to complain. The reality is that I won’t be able to provide the client with the custody that a managed account offers, because some of the traders require millions of dollars just to grant me that level of security. So, beyond what I am already planning on providing, which is copies of the quarterly audit – what would make for good transparency?
At this point, if it were me on the outside looking in, I honestly don’t know if an audit would be enough. We could post a weekly commentary on how our portfolio of traders handled the previous week, like a market re-cap. I’m still feeling this out. Thoughts?
RedP said
Jay 712, I know also of people who have borrowed and invested in clubs. Some won, some lost.
I dont consider myself to be a wise investor however I view borrowing to invest as a double jeapordy, that practice puts far too much at risk. i don’t know why ppl do it, maybe greed or maybe a chance for early retirement, who knows. I for one prefer to err on the side of caution.
Even when I invested with Olint it took me at least a month or two to take the plunge, only after talking to alot of people did I go in because the reviews were more +ive than -ive.
God says that a fool and his money are soon parted, I can only hope my friend that I dont fall into that category. I’m only with one club and banking on it to pull through ok. I’m very wary of other clubs espesh those that offer fixed gains and I have no intension or interest of joining any other.
Hence this is why you allways see me asking for info on other investments. After all, variety is the spice of life.
So far 4 clubs have sunk. I, as yourself sincerly hope that investors get their hard earned money back, I know that ppl are suffering and it is tragic.
How to prevent others losing out on dreams??
PPL, myself included, need education about other investments from ppl like you, leave bab, pat, geo ,yardman,future, and the host of others that post pertinent info on this blog. I cannot begin to tell how much help they have been in removing the vail from my eyes. Hence this is why I have been calling for the content to be changed from club bashing to insightful info. You have to admit Jay that some of the posts have been downright nasty and spiteful. Does that help ppl? No. Only pertinent info and education will give us the power to learn and make the right choices to change our lives.
Anyway my bredda, latah.
RedP
paul h said
Jay,712, now you talking a lot of us have been there, Finsac etc.Now we can share our experience with others about how we bounced back( mi did go a farin an tro heral and sentinel til’ mi fool) but America gave me the opportunity I also bought cleaning contracts and built a good business of it.Now I’m certain there are others who provide some insight and some guidance without a hidden agenda.Firstly one must be proven trustworthy then you form groups ,clubs and actively participate.Luckily for you wealth creation is now an imperative.Back in the days you would a too bright to think that you could.Even the church was just waiting on God’s will(paralysis of analysis) pure prayer and fasting but now is prosperity time.Networking by internet is now.The possibilities are endless Yes we can.Jay see what a mean . Out of the mouths of babes …
jcan said
There’s an old Wall Street adage that tells us that “the trend is your friend.”
http://www.moneymorning.com/
Leaving Babylon said
Hey speaking of the US Federal Reserve, are you guys aware of this:
“Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purpose of the FTCA, but are independent, privately owned and locally controlled corporations.”
Lewis v. United States, 680 F.2d 1239 (1982)
paul h said
Pat, stick with fx at least we know how it works.Persons discovered that J’cans got hooked on large mthly gains and just decided to exploit that addiction.Now the careif model just could not work as it was heavily dependent on new entrants with cash.In real estate development in Ja., the smaller the project the better it is.Because of finance charges etc. don’t touch any project that gonna take more than 12 to 18 mths to complete not with devaluation and escalation as uncertain as it is.I don’t know for Ja. but in the U.S. the way to get out of being labeled a pyramid(which is illegal) is to offer a product hence the rise in MLM’s.Now they are all coming to Ja.Vitamins, detox patch, soaps and detergents made from some so called exotic plant which is now killing off the everglades.It’s a joke, at least with fx you are in control.Btw D.S. was ranked in the top 10 best traders in the world years ago and was offered a sweet package from Wackie starting @$2m us .Jay thats a fact bro.Chris Astaphan over a year ago said he was looking at packaging a fx product with DS as he was so impressed with the performance of O. And thats coming from MLC’s former rh man.Personally when I started to with draw funds from NCB they offered me a very attractive rate to stay.Another fact did you know BNS took a different approach they started offering unsecured loans to customers who just happened to be pulling out money to place with “O”. Baby J there’s a whole lot more you’ll learn with time.
Leaving Babylon said
MoneyChimp – What are you talking about? A number of us are constantly making attempts to educate ourselves and post new information. For example, look at Jcan’s post from the 4th on the Fed Reserve going negative. Where else do you hear these things? All fruits ripe.
dave said
That Capital Blu article that was done on April 25th was a great article. They seem to be setup really well. Plus I had the chance to talk to DDJ when he was here this past week. He said he came down for and meeting with the FSC. And I told him about this Blog and that he should log in and drop in a couple lines. The guy is pretty smart or seems to be.
jay said
Red P.
I am not saying you or others that have invested in O is an “idiot”.
The hurt that I feel, is that so many Jamaicans are losing money to these “investment”, and that makes me mad.
I have friends who hairs are now turning white as they try to figure out, how to recover from these losses.
The sad thing is they join a next “alternative” in order to try and regain lost ground, only to see that one crash also.
Jamaicans so far have lost Billions of dollars to Swiss, HW, Mininvestment, Open Trade, ExpTaders, Bricsfund,Carief, C+.
There are families today who are in danger of losing their, houses, cars and land having taken loans against these assets in the hope of getting a cash windfall.
They fall prey to the “supporter” who all preach good things and denounce anyone who questions, the company’s strategy.
Those who are in other clubs still standing, will respond that they were’nt very smart in the first place to have invested with “such and such” firm, as they(the support of the other alternative) knew something was not right.
The question therefore is, how do we prevent others from losing out on their dreams.?
How can those on this board assist fellow Jamaicans from being scammed.?
I would like to hear from you.
danews said
clubs crashing left right and centre..
transparency is always best. because the nature of these clubs, are they are going strong, then they are gone with the wind.
If we do not have transparency, all we will be left with is speculation, and some people will be the detractors and some people will be the supporters..
but NEITHER side can claim that they know what is really going on !!!
and it is very ironic that the ’supporters’ are always withdrawing their money !!!
RedP said
Jay@ 709: Carief- Ponzi? Bwoy, blame it on the employees. Yeah right. Mr tharpe is an ass-h.
I’m glad mi did stay far. Always suspected that one as not being on the up and up.
I know you may consider me an idiot for being a member of O but trust me, I wouldn,t be caught dead running around investing in alot of those other clubs. The same feeling I had about C- I had about careif. Thank God!!
jay said
Alternative investment company Carief now the latest casuality.
The company, which began in 2005, offered a number of investment options to the public and promised returns of between 100 and 1,000 per cent within a three-year period. It had two planned real estate development projects, Phinion Preserves and Phinion on the Ridge.
See full story.
http://www.jamaicaobserver.com/magazines/Business/html/20080506T230000-0500_135329_OBS_CAREIF_CRASHES.asp
I really feel it for those investors who have lost out again and this will place even more pressure on the existing “clubs”.
It does not look good at all.
MoneyChimp said
That’s because this blogs has no substance nor value any longer. All i ever see on here is alot of crying and biatching from wanna be investers… and to prove my point, look at all the attention my post will get.
HD said
I can’t believe DR is not posting anymore….things have really changed
Patricia said
Now how Careif boss going to blame the sales staff for not closing enough deals? They may have set targets, but external shocks(may)have derailed them. Will have to revisit that business model.
Patricia said
RedP, is about time, but what’s the use where are they going to find him. I hope Interpol is also involved. What about Gilpin and the other cohorts?
DH said
Was watching a documentry on tv monday night about eron mortgage corp
http://www.cbc.ca/money/story/2005/01/21/eron-050121.html?print
JK said
http://www.radiojamaica.com/content/view/7868/26/
careif in trouble???
RedP said
Police looking for Sir Max, Heard it on NationWide this evening.