Invest. Clubs Archive 1
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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
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