Open Channel

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Greetings Friends

In light of the slower loading time of the comments section, I decided to create a new comments page for your convenience. Please write all comments here. Hopefully it will load faster. Thank you.

Keep the Channels Open

                                           Andre  

923 Comments

  1. Kevin2 said,

    November 2, 2007 at 7:17 pm

    To: Direct members of OLINT.

    What kind of customer service support do you get? What sort of info do you have access to?

  2. Deigo said,

    November 2, 2007 at 8:14 pm

    Is there anyone in this site who is member of F1investment and can give me a refferral.

  3. JK said,

    November 2, 2007 at 11:23 pm

    why not try world wise?

  4. VMS said,

    November 3, 2007 at 3:46 am

    I have been asking for a refferral to lewfam for a while now..can some please assist me..thank you. rashheed@hotmail.com

  5. AD' said,

    November 3, 2007 at 5:26 am

    OLINT is great Kevin, I have been with them for 2 years now. There system keeps getting better and they have a great track record.

    Regards

  6. Patricia said,

    November 3, 2007 at 11:47 am

    AD- I have been asking whether any of the direct OLINT members can reliably inform us if and when OLINT will be taking in new members. There are many rumours, and many of us “kotchers” are hoping that this will be happening soon. Can you help us with this info???? PLease!!

  7. truewords said,

    November 3, 2007 at 1:58 pm

    Bank reaction:

    1. Try compete. If that don’t work or not possible, then
    2. Try use the law against them, If that don’t work or not possible, then
    3. Spread propaganda and use FUD (Fear Uncertainty & Doubt), if that don’t work , then
    4. Maybe sue them, use politics and government against them, maybe assassination

  8. truewords said,

    November 3, 2007 at 2:01 pm

    However you earn you money don’t worry buy no X5 or Hummer, or Escalade….invest you money into other more secure things. Expensive motor vehicle is a big liability.

  9. Sue said,

    November 3, 2007 at 5:26 pm

    Patricia,

    I heard Olint will be taking new members early next year. I’m a ‘kotcher’ as well, but cant wait to get in thro the ‘front door’

  10. PoorRiskTeka said,

    November 3, 2007 at 7:52 pm

    i dont see what all the fuss is about with the banks.. all we the little ppl are doing is trying to make some money to play with… all we’re trying to do is play the high risk game to get some money and go right back to their low investment. all the money they fear losing will come right back to them eventually… as we do wanna keep what we have made safe

    so hey banks keep your calm…

    as individuals all we need to do is have our heads on our bodies do not allow greed to be our guide…

  11. DR said,

    November 3, 2007 at 7:55 pm

    I went to Olint office recently, and asked whether or not they will be able to sign new members this year, they said “no”..but hopefully next year.

  12. Babs said,

    November 3, 2007 at 10:54 pm

    I agree with #10. Remember people we have the power, it is our money that these banks are using to trade with. So if NCB and any other bank is trying to stop us from making money. Let us all take our money to the banks that are cashing our checks. Let us support the banks that is supporting us.

  13. Mr. Skeptic said,

    November 3, 2007 at 10:57 pm

    My colleages it is alledged that the rebellion against the poor man has began. It is alledged that our C+ and HW cheques are being withheld by NCB, BNS and now BOJ. anybody can shed some light!

  14. DG said,

    November 4, 2007 at 1:37 am

    I have since moved my account from BNS to RBTT. I was wondering why my money from C+ wasn’t being sent to my account on time last month

  15. Vangeller said,

    November 4, 2007 at 1:48 am

    What is really happening? Are they now trying to run “Cash + out of Ja just like what they did to anything good for the ‘ordinary folks’

    In both major newspapers dated Nov 2nd, “the Jamaica Gleaner and the Jamaica Observer, articles involving major business players have been published siting that these investment clubs that have been cropping up will crash. Lets hope that my readers are smart enough to make their money and get out before/if they crash (lets hope they don’t). Below are sections of interest from articles from the Observer and Gleaner.

    Source: Jamaica Gleaner| Published November 2, 2007

    Interview with William “bill” Clarke, President of Nova Scotia by Barbara Ellington, Gleaner editor.

    BE: Give me your view on the recent increase in quick money-making schemes; just about everyone is trading in foreign exchange. What do you think about them?

    WBC: We like quick money. No one is willing to work, so with offers of from 10 to 18 per cent, these are attractive.

    We did a calculation on one of them that said if you keep your money with them for five years, you get 18 per cent. If you invest $100,000 for five years at 18 per cent per month, at the end of five years you will have over $6 billion. Where does that make sense? People have been sucked in badly. This includes educated people, and many elderly church people are being sucked in and told that these investors have a gift from God.

    There are billions flowing through these schemes. When this crash comes, it will be louder than the World Trade Center.

    BE: Have there been significant outflows from Scotiabank into these clubs?

    WBC: Yes, but it has not threatened the banking system because people are smart enough not to put all their resources in such schemes.

    But, we have also seen the inflows and it’s a frightening scenario because my honest belief is that they will crash.

    Any day there is more going out than coming in, we will see the runs.

    BE: So what about private citizens learning to trade?

    WBC: As far as I am concerned, there is no legitimate investment that you can make that will give you over 100 per cent return. Money is coming from other sources. This cannot be legitimate business.

    BE: How would you advise those in charge of regulatory and governing bodies to deal with them?

    WBC: They have to be regulated or people have to be told exactly what they are. This government, as well as the previous one, has been far too silent.

    There should have been proactive measures to protect the public who are at risk.

    Journalists have fallen down too. The truth must be told about these schemes that do not make mathematical sense.

    But we have regulators and they must act too. I hear that the diaspora in the north east corridor of the United States are now being recruited into them.

    —————————————————————————————-

    Source: Jamaica Observer| Published November 2, 2007

    Outgoing executive director of the Financial Services Commission, Brian Wynter, has been asked to remain in office for a few weeks beyond his December 3rd original departure date.

    The regulatory organization is currently searching for his replacement and is in the midst of managing the exponential growth of alternative investment schemes across the island.

  16. Hope said,

    November 4, 2007 at 2:13 am

    I have been reading the comments posting on this site and they have been quite useful.
    I’ve always heard the saying that the rich will always be richer and I believe that there are some genuine persons out there who want to edcuate the common. The only way we can hope to determine the real ones from the fake is through research.
    I’m interesting in learning more about MayDaisy and as such would appreciate any available information regaring this Club.

    Please send same to hiddenvale@yahoo.com.
    Thanks

  17. Kevin2 said,

    November 4, 2007 at 6:04 am

    I have been wondering why is it that OLINT doesn’t take any new members. They are no longer under the jurisdiction of the JA govt. They are registered with the Turks FSC so what is legally stopping them?
    But I have a theory here. Put yourself in DS shoes. Can you imagine what would happen if you open up to the public. Immediately there would be $Billions USD flowing in as you know that every jackman wants to get into OLINT. Then assuming OLINT continues to be successful and make the normal returns each month. Do you know how much funds under management he will be have in a few years? Mega Billions and he would not be a commercial bank (at 10% per month $1B turns into $304B after 5years). At a certain level the T & C govt may start to feel uncomfortable with this operation on their shores with this magnitude. Additionally, I am sure that this co. would then be on an international watch list for moneylaundering etc.
    So opening up to the public may not be as simple as it sounds. Not to mention the significant increase in staff required.

  18. Kevin2 said,

    November 4, 2007 at 6:15 am

    I may have exaggerated in my previous post but you know where I am coming from. Successful operations like this over time can too have issues because they are just that….. succesful.

  19. DR said,

    November 4, 2007 at 10:21 am

    Kevin 2 : I could not agree with you anymore in your comment at #17 – - – however the same applies to us.

    Look at it this way: most of us started out with US$1500…when you invest that in clubs paying 10%,12%, 20% – - in a matter of 5 years or so you will have in excess of US$50,000 – - You cannot lodge over $10,000 in amy commercial bank in Jamaica without a notice being sent to the Ministy of finance. They will come after you….. they will probably come after the club.

    My suggestion is to gradually move $2500 or less out of our investment schemes every now and again. …But then again….after a while it adds up. Back when I working at CIBC….I had to print a list of all accounts over JA1mill, this is how the govt track down on people.

    we got to buy out Juici-beef, tastee or better still BRING Starbucks, Checkers, Walmart and some of thos large-chain Pharmacies to Jamaica. business. I personally would love Dunkin Donuts – - Ideas folks!

  20. Anthony said,

    November 4, 2007 at 1:59 pm

    I would encourage all the investors, lenders, partners etc. even the ones that started small to continuously keep records of all transactions to include copying interest checks, accounts book, contracts etc. The fact is that no matter how small u begin if u r disciplined and smart one day your paper weight can become heavy weight and at this time alarms will start ringing when u attempt to transact business. U might be asked to account and through your records should be able to. Lets continue to be real and always remember the interest we make r not easy money as it is our hard earn money we risk. So as we continue to swim upstream watch out for the bears.

  21. Babs said,

    November 4, 2007 at 2:21 pm

    Cash plus is buying up every thing in Jamaica. Why dont they buy a Bank? I am sure we all would put our money there. But as with everything they would get a fight.

  22. Simone said,

    November 4, 2007 at 3:33 pm

    Does anyone knows how I can open an account with Higgins Warner

  23. chillin said,

    November 4, 2007 at 3:51 pm

    I would advise to stay away from higgins warner since they habd open a high paying investment and end up stealing four million US dollars, a know a friend and invested a few thousand dollars but only got back a small percentage, even now still cannot get back more, so be careful of them. if they are say making money now why they do give him back all of his money. Thos days he was investing in models, today football, be careful

  24. chillin said,

    November 4, 2007 at 3:53 pm

    i would like to know how much prolific investment pays and a link has how to get in

  25. JSM said,

    November 4, 2007 at 5:11 pm

    FOR THOSE OUT THERE WHO WOULD LIKE TO GET INTO OLINT YOU CAN CONTACT ME. MY CONTACT ADDRESS IS jsm81065@hotmail.com.

    HAPPY HUNTING, JSM

  26. Anthonythelandman said,

    November 4, 2007 at 7:59 pm

    #24 re Prlific Investments chillin its 25,000 USD to get in quite A LOT, BUT DR. GLEN BROWN HAS A 100% TRACK RECORD. Anyway email me lets talk I am also interested in investing when I get the money. I have spoken to Dr Brown myself..email me lets talk
    anthonythelandman@yahoo.com

  27. DR said,

    November 4, 2007 at 10:55 pm

    I have not heard about Dr. Glen Brown at all….what is his interest rate per month on that US$25,000?

  28. DR said,

    November 4, 2007 at 10:56 pm

    if his interest rate is over 20% then it is PROLIFIC!….smile

  29. Bar said,

    November 5, 2007 at 1:04 am

    Simone send me your email and i will give all the info.

  30. vaughn said,

    November 5, 2007 at 2:20 am

    making quick money is good. Do you ever stop and wonder where does the
    extra money come from to pay this high interest rate. The banks will work with the government to shut down all these money making schemes. This will be done through the FSC and your money will be tied up in ths court for a while and in the end you will be paid back a small percentage of your money.

  31. Kevin2 said,

    November 5, 2007 at 2:46 am

    Vaughn,

    FX-Trading is global. It is bigger than Jamaica. With fx trading it is a zero sum game. That is if I win it means someone else globally lost. That is where the money comes from……other traders. The JA Govt cannot shut down fx trading. They don’t have the jurisdiction. The FSC may again do some stupid uninformed action similar to what they did to OLINT but look at what happened. They will simply moved to another country that is much more informed.
    Now on the other hand, other high interest rate schemes that state that they do not participate in fx trading might be a problem. I think C+ falls in this category. With such schemes it is possible that the Govt could step in but again it depends on what they do (???)

  32. Anthonythelandman said,

    November 5, 2007 at 3:06 am

    HI DR Brown’s record is 8% in Sept and 10% in Oct unofficially, I get this from an America investor in Cali, no losing trades and thats amazing in itself, very conservative approach though. Prolific Investments is marketed in the USA by a David Aldridge I can get you his number although I believe that $25,000 min investment is a bit too much to get started.

  33. AD' said,

    November 5, 2007 at 3:53 am

    Vaughn: # 30

    I see you got schooled by the professor and he is very right do your home work before you come to class next time . # 31 Kevin2 you hit the HAMMER right on the HEAD.

    Regards
    A.D

  34. DR said,

    November 5, 2007 at 12:14 pm

    Why should I invest US$25,000 with Dr. Brown and end up getting only 8% and 10% when I can stay here in Jamaica and get 12%, 14% and all the way up to 20%.

  35. Joelle Clayton said,

    November 5, 2007 at 1:55 pm

    remember ppl the greater the risk the greater the reward… and to how things are going with the banks etc all our risks have increased but if we chicken out and start to panic they (the banks) would have won. however, what do u think will happen if we don’t? if cash plus was as illegal as they say it is do u think it would have been able to continue operations from 2002? these investment clubs aren’t doing anything illegal, my advise to u is do ur research, assess the level of risks u can undertake and plan carefully! the banks are trying to start a panic attack by using the media i say ignore them! power to the poor, they’ve all proclaimed to be in the best interest of the poor and i say ACTIONS SPEAKS LOUDER THAN WORDS!

  36. Patricia said,

    November 5, 2007 at 2:04 pm

    Okay Guys, take time with the Vaughns of this world. Part of the problem with the ongoing miseducation of many is the utterances of many big men in high places, who ought to know better. Much of their sound bites are just scare tactics to the uninformed masses. But this thing called technology is a great leveller of the playing field. Knowledge is a click of the mouse away, and if you are really interested in creating wealth, are focussed and disciplined..there’s so much info easily available, and NO GOVERNMENT IN JA CAN STOP THAT.

    Gone are the days of working 9-5 for pittance, that is like a curse for many..you spend your life making somebody else rich, while you slave, and stifle your own creativity. Nothing wrong with hard work, but working smarter is even better. Nothing wrong with utilizing FX, Stocks,R/Estate or any other legit means to create wealth..so VAUGHN, read(nuff nuff links have been posted throughout this blog), ask whole heap of ???, listen and learn, then go create some wealth for you and your generations.

    Walk Good

  37. Patricia said,

    November 5, 2007 at 2:13 pm

    Anthonythelandman(Triniman in the states), were you able to actually confirm Gain Bank’s(LewFam’s trading arm in US) returns for Sept & Oct??? I have also heard of a trader in Wysconsin, that has been giving good returns. This week should get the details and will post what I can here.

    I hear our Diaspora in Atlanta(Eastern seaboard in general) all over FX, many trading for themselves and others in managed accounts.

  38. Anthonythelandman said,

    November 5, 2007 at 3:31 pm

    Hi Patricia I cannot confirm Lewfam’s new Gain Capital returns but this is what Cynthia at their Atlanta offices told me. Yes post details on here about Wisconsin trader. I am going with DR. Brown though when I get the 25,000 he has no losing trades and I know someone who trades with him.

  39. mathetes said,

    November 5, 2007 at 5:32 pm

    Well Olint % is really 10.76. So much for my nearly 15% projection.
    Andre

  40. SM said,

    November 5, 2007 at 5:40 pm

    Andre,

    The “B” was 14.24%

  41. mathetes said,

    November 5, 2007 at 5:50 pm

    You know what I think that the projection that I saw was for the “B” account.

    Andre

  42. AD' said,

    November 5, 2007 at 6:41 pm

    SM and Andre what’s the min amount $ to have the “B” account with olint?

    Thanks

  43. mathetes said,

    November 5, 2007 at 6:47 pm

    I dont know the minimum Kevin2, because Olint stopped allowing people to start B accounts long time ago. Only some of the people who opened accounts with Olint in their early years have B accounts (based on my knowledge).

  44. Wise Investor said,

    November 5, 2007 at 7:15 pm

    I searched online for prolific investment. Found their site: http://www.prolificinvestment.com. However, for us locals, they only offer the opportunity to trade for ourselves. Their “managed account” is exclusive and not offered to locals. So anyone wanna start trading for themselves, I guess u could check them out

  45. JC said,

    November 5, 2007 at 8:05 pm

    Need to locate David Smith Urgent matter Or if anyone can tell me how to contact someone al Olint it would be great
    jcvillarreal@cableonda.net

  46. Hope said,

    November 5, 2007 at 9:50 pm

    Hey
    Is there anyone here who is a member of MayDaisy, can you give me a referral please.

  47. Hope said,

    November 5, 2007 at 9:51 pm

    Hey
    Is there anyone here who is a member of MayDaisy, can you give me a referral please.

    You can send to hiddenvale@ yahoo.com

    Thanks

  48. AD' said,

    November 5, 2007 at 11:21 pm

    JC

    What’s the Urgent matter with OLINT what do you need? Sound pretty Urgent.

  49. JK said,

    November 6, 2007 at 12:12 am

    look in todays gleaner in the all women section on page 2 the gossip column

    it seems as some supposedly cash rich enitity is in problems

  50. Nes said,

    November 6, 2007 at 12:33 am

    Hello everyone,

    Can some send me a referral for May Daisy.

    Thanks

  51. Nes said,

    November 6, 2007 at 1:21 am

    Hello everyone,

    Can some please send me a referral for May Daisy.
    kaybron@yahoo.com

    Thanks.

  52. reds said,

    November 6, 2007 at 1:23 am

    jk real what u know we r here to give each other knowledg

  53. Joe Joe said,

    November 6, 2007 at 1:31 am

    Can someone tell me about May Daisy.

  54. JK said,

    November 6, 2007 at 1:57 am

    check todays gleaner in the all woman section my mother jus told me bout it as she knew i wanted to throw money in there

  55. AD' said,

    November 6, 2007 at 2:17 am

    Does anyone have a link to this article that JK is speaking of?

    Thanks

  56. JK said,

    November 6, 2007 at 2:23 am

    sorry is in the flair magazine but it isnt on the gleaner website

  57. AD' said,

    November 6, 2007 at 2:29 am

    Jk which company is this regarding?

    Thanks

  58. JK said,

    November 6, 2007 at 2:35 am

    cash plus apparantly

    it states they are late in paying for some of their aqusitions
    by some 4 months and bearly paid off for another one

  59. AD' said,

    November 6, 2007 at 2:40 am

    Ok , Thanks for the information.

  60. JK said,

    November 6, 2007 at 2:41 am

    here is another article taken from a blog called cashplusinvestment.com
    By deshoda | November 5, 2007

    CASH PLUS RUMORS

    OK rumors have been springing up like wildfire with regards to Cash Plus in Jamaica. I cannot process all of them or research fast enough to keep up….so here is a list of some of them. Feel free to add any that you have heard. Also, feel free to confirm or withdraw these rumors as you view them.

    It is rumored that all/some banks are not taking any more checks from these investment clubs
    Some Cash Plus employees have been complaining that they are not being paid on time.
    Cash Plus will be liquidating some of their assets at the end of this month: Coming from a reliable source who is head of a major conglomerate, he himself has begun the process of claiming back his investment.
    In todays publication of the Flair (Gossip Section-Pandora’s Box), reference is made to a “cash rich entity” having money problems. According to the writer of this column there are three cases making the rounds:
    The deal is for three payment, but the second one is four months overdue.
    The acquired company is causing headache because the staff has not yet been paid their October salary.
    In the real estate deal the seller is said to be holding on to the deposit and getting out of the whole messy thing because promised funds have missed payment deadlines.
    Cash Plus also published a statement in the Sports Section of the Daily Gleaner today denying rumors that they no longer have good relations with the banks in Jamaica.

    The lines at Cash Plus today were very long as usual but the only difference is that people were not investing money but pulling out their investments according to the word on the street.

    I don’t want to sound like the the grim reaper but one thing I’ve learnt in my life is that if so many different rumors are going around with regards to the same topic, one MUST be right and in this case it will not be good for many people.

    Also, even if these rumors are not true, at the rate that they are going around, people will and have started to withdraw their money and this cannot be healthy for Cash Plus. I am convinced that the money they receive from their investors are part of what they keep afloat and as we explained with Ponzi schemes, when investors fly the coop the scheme will fall.

    Is this the beginning of the end?

  61. Dominik said,

    November 6, 2007 at 2:53 am

    FYI … Lewfam’s gain for October was 9.68%

  62. gary said,

    November 6, 2007 at 4:09 am

    I have a friend that is very close to the person who did the large real estate deal recently with cash plus. He called the gentlemen today and had him on the speaker phone. The deal is good and the gentlemen said that ” the deal is on track”. he did not elaborate much but mention that his payments were on time. It’s funny the things people spread without the facts. I was in cash plus on Friday to ask some basic questions about investing, I am doing my own research. The people that I seen were depositing funds. The individuals that withdrawn funds are doing exacting what the banks wants, to send the public in a panic model. How silly we are as humans? Well I will continue to watch.

  63. DG said,

    November 6, 2007 at 4:15 am

    Regarding C+. Is this just another scare tactic? It seems as though some institutions have declared war. With all the assets that C+ has acquired, liquid cash may well be a problem if people start pulling their cash in volumes. This reminds me of Olint – but can C+ withstand the storm?

  64. JK said,

    November 6, 2007 at 4:16 am

    i guess only time will tell

    keep us informed

  65. PoorRiskTeka said,

    November 6, 2007 at 4:59 am

    The banks are indeed using various tactics to cause a run on these instiutions… and let me not even say banks as in all banks.. cause so far the only ones we have heard in the rumours flying around is scotia and ncb… i work at firstcaribbean and i have heard nothing coming out from their end … as yet

    but it is up to us as individuals to keep ourselves informed and keep our ears to the ground.. so if anything we will be ahead of the game…

  66. DR said,

    November 6, 2007 at 11:01 am

    Well if the big MEN….NCB/BNS start behaving like that already….soon the little boys….will follow. (RBTT and FirstCaribbean). Remember its the big MEN that control the banking associations etc…. Their voice is strong.

    We cannot all come out of C+ at the same time…IT WILL CRASH!…..I would say take out 50% this month…and then another 25%…and then the rest over a six month period….assuming they last that long.

    Thier Real estate will be hard to sell…..Drax Hall was expensive people….soo too was Hilton, Mainland, Airlink and the others. Carlos spent over US$300million …… He has acknowledge his mistake – overspending…

    He was very kind to those of us who invested with him….Let’s be grateful and not bite the hand that fed us.

  67. HD said,

    November 6, 2007 at 1:03 pm

    The problem is, if one crashes then the Banks, FSC, BOJ and powers that be are going to point to it and say “seeit deh” and use that to justify enacting measures and building up fear against the others. Even though we know these programs are all managed and operated in different ways.

  68. Patricia said,

    November 6, 2007 at 1:46 pm

    Bottom line is dont panic, simply enact risk management measures. get as much facts as possible, reduce/limit your exposure, place some of your funds elsewhere. If there is a run on C+, then it will crash…I worked in financial sector in the 90s and remember all too well the run on some of the banks.

  69. Joelle Clayton said,

    November 6, 2007 at 1:56 pm

    I am weighing my options as i sit and read these rumors… which will i regret more? pulling my money form C+ and they some how manage to stay afloat and me losing nuff in interest? or not pulling my money from C+ and they crash (God Forbid)? I know that personally i will regret moving the money because when i first decided to join i had put up some cusions to withstand certain blows and that’s why it took me so long, i had to be ready and by ready i mean ready for the good, the bad, the rumors, the fight (from both the bank and “badmind” ppl) so i was ready, i am ready and i sticking it out… hopefully at the end “what seems to be a storm” a will return with GREAT news and if that doesn’t happen at least i will be ready and i’ll pick up the pieces and move on.

  70. Anthony said,

    November 6, 2007 at 2:41 pm

    Guys not to bury the injured, but what we r learning from this is that it is definitely easier on our sleep pattern when we split the risk no matter how sweet one sounds over the other and lets not be greedy it could ruin us. Being a cash p veteran for over two years I must say that re rumors and haters, I have never seen it like this. Reminds me of the saying ” Too much rat never dig a good hole”
    I only hope the bloggers who followed this forum had taken some early advice and only risked what u could afford to lose, if u did same don’t u think we could be sensible about how we pull, because lets face it this could be a tactic to get us to destroy one of our source of hope. If it is a plot, and they succeed then they will soon find another way to get us to kick over all the other buckets of milk. Let us not take rumors for gospel but go investigate first. If there r any bloggers who did not sleep last night, had a palpitating heart or even short of breath without doing any physical activity , then be honest with yourself high risk is not your cup of tee. Settle for something a little more mild.
    Good luck to us all.

  71. Kevin2 said,

    November 6, 2007 at 3:49 pm

    Of all the new clubs, the only one that I doubt is C+ but I will still give them the benefit of the doubt as I still do not know what they do unlike the others. But be very careful. The other clubs who attest to engaging in fx trading seem to be OK. With fx trading, funds are quite liquid so even if there is a run there shouldn’t be a problem so currently there is no need to panic whatsoever for the others.

    NCB and BNS would jump for joy if C+ ran into trouble. It appears that they are trying to orchestrate the demise of C+ by withholding funds etc. They may succeed (I don’t know) but one thing that should come out of all this is that the JA people must start demanding more from these banks. How can BNS continue to repatriate $billions to the parent co. in Canada without people complaining. Same with NCB. Just look at what happened to Cable & Wireless in the past. When they had the monopoly they dished whatever they wanted to the public and we all took it. Now with competition, look at what is happening to them. We must stand up and demand more from these banking jokers who are ripping you off in every way they can. I don’t live in JA any more but residents must stand up. Now is the time. The growth of technology is putting power into the small man’s hand and the big banks don’t like it and they will fight it.

  72. Kevin2 said,

    November 6, 2007 at 4:14 pm

    Andre,

    I notice that when comments are posted the time attached is incorrect. Can you have this changed?

  73. Kevin2 said,

    November 6, 2007 at 4:16 pm

    The time looks like it is 5:00 hours ahead. Like UK time??

  74. Anthonythelandman said,

    November 6, 2007 at 4:52 pm

    Does anyone on here treg with Dr. Glen Brown, lease email me
    anthonythelandman@yahoo.com

  75. Joe Joe said,

    November 6, 2007 at 5:04 pm

    Anthony 70, well put. I think that the banks are trying to bring down these clubs by inflicting doubt and mistrust. We all need to understand that most banks and businesses are built around the cash and the trust of consumers and investors. If any of the two are taken away they are surely expected to fall. I would also like to add that not even NCB and BNS are immune to this kind of fall. If all the members of BNS turn up and demand money, down they will go. The same with the stock market crash of 1929, panic sell off caused the market to crash. As investors we need to understand that high risk mean high risk, put in what you can afford to lose and you will sleep better at night.

  76. DR said,

    November 6, 2007 at 8:14 pm

    Well here is a solution: Let’s all take out our money out of BNS and NCB, instead put it in RBTT and First Caribbean: How’s that?

    We could boycott the big boys for a while…..

  77. mathetes said,

    November 6, 2007 at 9:05 pm

    Greetings Friends

    Well I have communicated with representatives from both NCB and Scotia, and as I said in a previous comment, these banks are indeed frustrating the system.

    I closed my foreign currency account at NCB today because they are theives. Everytime I wired US $$ or needed to do a bank draft in US $$ that amounted to more than US$1000, they debited my US account. I very recently learnt that every bank does this, but I never knew and NCB failed to tell me.

    Additionally, they debited my account so much that the money went below US$100. Then when it went below $100 they charged me 10. sumn % of the balance as penalty every month, so I was losing out in a number of ways.

    Then when I closed the account they charged me US$25. I could have tried to get this fee waivered through “dialogue” seasoned with “disatidsfaction” but I chose not to bend over.

    I should have followed Olint when they moved their accounts to First Caribbean. Anyway, I am going to open an account at Citibank or bank of America when next I travel.

    Bless!
    Andre

  78. Kymn said,

    November 6, 2007 at 9:32 pm

    Jamaica National presently do not charge for drafts. Also if you get interest monthly, they do not take out anything (like that $19 that some charge just to handle the cash). People, we have options, and need to use it up.

  79. Patricia said,

    November 6, 2007 at 9:34 pm

    First Caribbean s in Turks & Caicos too. Will make life a lot easier I imagine.

  80. lover said,

    November 6, 2007 at 9:36 pm

    It seems as if persons are fighting for cash plus ( which i strongly support) in an indirect way.. Today while i was passing the newly built LOJ centre on hope road vicinity half way tree, i saw a wall covered in yellow writing states, DON’T BE FOOLED OR PANIC! AT CASH PLUS YOUR MONEY IS IN GOOD HANDS.

  81. lover said,

    November 6, 2007 at 9:43 pm

    I WENT TO CASH PLUS TODAY JUST FIND OUT IF THESE RUMOURS R TRUE, WHEN I ASKED A REP ABOUT SOME OF THE RUMOURS HE LAUGHED AND SAID RUMOURS R COMING IN ON A DAILY BASIS.. HOWEVER NONE OF THEM R TRUE. THE LINES FOR NEW ACCOUNTS AND ADDITION TO ACCOUNT R VERY LONG AS USUAL… I ALSO CALL MY INSIDE LINK AT C + AND SHE SAID THERE IS NO PROBLEM WHEN IT COMES ON TO THERE SALARY, IN FACT THEY WERE PAID 2 DAYS BEFORE DUE DATE…… IN REGARDS TO CASH PLUS LIQUIDATING SOME OF THERE ASSETS WERE ALSO A LIE…

  82. lover said,

    November 6, 2007 at 9:46 pm

    I KNOW A LOT OF HATERS R ON THIS BLOGG; BUT YOU GUYS CAN’T STOP THE POOR MAN PROGRESSS..

  83. DG said,

    November 6, 2007 at 10:46 pm

    They tried it with OLINT. Then there was the bad press about WW and now it is C+. Who is next?

  84. HD said,

    November 6, 2007 at 10:47 pm

    I can see where the banks might be doing that. I can recall earlier in the thread some participants mentioned that it was so frustrating getting payments from WW that they had to go into the office to collect the cheque. I have not had any problems getting payments wired directly to my account up here in the cold from WW so far.

  85. the parkers said,

    November 6, 2007 at 11:26 pm

    any boby visit world wise to how bus is doing there i dont here any roumers about them

  86. the parkers said,

    November 6, 2007 at 11:28 pm

    the slave matters r back in power investers becarefull the boy love this goverment they wants every thing but it not going to work

  87. the parkers said,

    November 6, 2007 at 11:31 pm

    they spent millians to get them in so that they can do what they want. the rich boy them have them head if they say jump them ask how high

  88. Sue said,

    November 7, 2007 at 1:27 am

    Andre,

    Agree with u on closing the ncb fx account . I have been frustrated for months deducting US$1.00 everymonth because my balance was below $100. Michael lee chin is a thief. The only reason i am staying on is because they have been my bankers for years and i also worked there.

    Jamaica National offers very good rates and so am planning to move my fx account over to them.

  89. Ms. A said,

    November 7, 2007 at 2:26 am

    Does anyone have a phone number or any form of direct contact information for OLINT or Maydaisy? I understand that OLINT is not accepting new members at this time, but I would like to contact them. I have invested with Lewfam, and I am quite please with the gains I have received so far. I also referred two people and they are also quite happy with their returns.

  90. Kevin2 said,

    November 7, 2007 at 3:08 am

    Just to add to the discussion on the banks. The following I have extracted from the business observes on October 24, 2007. It was an article on what local senior executives get. This segment is NCB and BNS only.

    “………….Following closely on the heels of DB&G is National Commercial Bank (NCB), whose two executive directors, managing director Patrick Hylton and his deputy, Dennis Cohen, shared just over $60 million.”

    “……….”Corporate Secretary at Scotiabank, David Noel, when questioned on how increases are decided said “Its a number of different variables, it is not just related to net profit but that would be a factor”.
    Scotia paid its two senior executives, CEO Bill Clarke and chief financial controller, Stacie-Ann Wright, a combined $37.7 million last year, a modest increase of eight per cent for one of the most profitable firms in Jamaica. How the remuneration package is split between the two is not known as companies are not specifically required to make this disclosure.”

    Now you can see why you get substandard interest from these banks and why they are overcharging you.

  91. Michael said,

    November 7, 2007 at 3:08 am

    #81 Lover ask your inside link if CP is in negotiations to buy a bank. I heard this on Friday and also today. I don’ beleive CP is having any cash flow problems.In the interview on Oct.12 with Carlos Hill CP had JA 12 billion dollars in deposits on contracts to acquire new business. Over the last 5 years they have been paying out with no problems. After recently announcing long term accounts they have major problems, sound suspicious to me .I don’t think they are having problems ,just rumors. Hold tight investors ride the waves and reap the fun,” oh I mean the rewards.

  92. Yardman said,

    November 7, 2007 at 3:13 am

    URGENT UPDATE FROM CASH PLUS 11/6/07

    To Our Valued Clients,

    The management and staff of Cash Plus Limited wishes to reassure our clients that despite the vicious and malicious rumours being spread by unscrupulous individuals who are averse to the progress of our organization, Cash Plus remains committed to its clients and continues to be a strong, sound and viable entity.

    Cash Plus will not be deterred from our mission of ‘Building A Brighter Future for Jamaicans’.

    However, it is clear that Cash Plus clients have been encountering difficulties, such as:

    When a request is made for a manager’s cheque from financial institutions in the name of Cash Plus Limited, despite our consistency and proven track record, some clients have been blatantly discouraged from doing business with Cash Plus.

    When Cash Plus presents a bank list to the various financial institutions with instructions to credit our clients’ accounts with their monthly consideration, a copy of the bank list is always stamped by the respective bank. However, much to our dismay, some of our clients have been experiencing delays in having the funds posted to their accounts.

    THIS IS IN NO WAY AN INDICATION THAT CASH PLUS IS EXPERIENCING ANY DIFFICULTY IN MAKING THESE PAYMENTS. THE FACT IS THAT WE RELY ON THE BANKS TO POST THE MONTHLY CONSIDERATION TO OUR CLIENTS ACCOUNTS, AND AS SUCH, WE HAVE LITTLE CONTROL OVER THE TIMELINESS OF THIS PROCESS.

    In order to resolve the above inconveniences being experienced by our clients, Cash Plus has decided to institute the following measures commencement during the month of December 2007:

    a) All manager’s cheques obtained from the banks for the purpose of opening new account(s) and making additions should be made payable in the name of the person(s) whose name will appear on the Cash Plus Loan Agreement.

    b) Cash Plus Limited has made arrangements with a reputable international financial firm who will be issuing an international debit card to all our clients. This will enable clients to have their monthly consideration deposited directly to their Visa or Master Card debit card. This International Debit Card will allow clients to:

    (i) Transfer funds to their local bank accounts.
    (ii) Pay for purchases at Point of Sale Terminals locally and internationally.
    (iii) Withdraw cash from any ATM machine locally and internationally.

    As a Cash Plus client, you have already passed compliance approval, and as such, you shall be granted automatic issuance of the Visa or MasterCard debit card.

    c) For Cash Plus clients already in possession of a Visa or MasterCard credit card, the monthly consideration may be automatically transferred to these existing cards.

    This easy payment programme will ensure immediate access to your monthly consideration.

    In addition, a Cash Plus Communications Department has been put in place to keep clients up-to-date on the growth and progress within the Cash Plus Group on a timely basis, via e-mail.

    We crave your indulgence in this growth process as we continue to ‘Build a Brighter Future for Jamaicans’.

    Management
    CASH PLUS LIMITED

  93. Pips said,

    November 7, 2007 at 6:18 am

    Hey Andre,
    Re post#77, please dont open account at citibank, citigroup as a whole is in some problems from the week started..
    http://money.cnn.com/2007/11/03/news/newsmakers/Citi_Prince.fortune/index.htm?section=money_topstories

    http://www.reuters.com/article/topNews/idUSN0521529120071105?feedType=RSS&feedName=topNews

  94. Joelle Clayton said,

    November 7, 2007 at 12:46 pm

    Thanks Yardman (#92) for that update it is well apppreciated… But could u included the source (gleaner, observer etc) of ur info for the benefit of all that would also be nice. Was planning on sticking it out with them anyway as my post at #69 states…

  95. Sheraig said,

    November 7, 2007 at 1:09 pm

    Has anyone invested in minvestment and has surpassed the 150 days and actually received the interest.

  96. Kevin2 said,

    November 7, 2007 at 1:43 pm

    Folks,
    Must Read

    Please see the business section in today’s gleaner online. There is a write up on Cash Plus.

  97. alicia said,

    November 7, 2007 at 1:48 pm

    Just to make a quick comment on a part of the Bill Clarke interview. $100,000 over five years at 18% does not amount to over $6 billion dollars it is actually $2 billion dollars he needs to go and do the calculations again.
    He also stated that people are not willing to work that is such BS he should shut up and go sit quietly in a corner, he is doing just fine his salary package is in the millions so he can talk.

    People are tired of working and not being able to see their way, look at his salary package and when the tellers need an increase they have to strike and behave badly for two years and at the end of the day they are offered peanuts. The bank should step up their game and stop hating on C+. Think about it when you borrow money from these banks the interest rate is in the double figures and the interest they pay u is in the single digits in addition you have to pay for every service at the bank even checking your balance at the ATM.

    I recently opened an account a C+ but I only invested what I could afford to lose but I am not the least bit worried about all the rumors, all investors just hold tight and ride the wave we will have the victory. There is an jamaican saying that “tief neva like si tief carry lang bag”.

    If you would like to do calculations for your investments over a long period visit this website u will find it very helpful http://www.webmath.com.

    Happy calculating.

  98. HD said,

    November 7, 2007 at 1:59 pm

    To all the bankers and whoever else claiming that people don’t want to work….it’s over 400 years now black people working and not getting a fair share….dem need a vacation now…piss me off !

  99. JK said,

    November 7, 2007 at 3:56 pm

    has anyone here actually collected from WW?

  100. HD said,

    November 7, 2007 at 3:59 pm

    I collected from WW…np

  101. JK said,

    November 7, 2007 at 4:17 pm

    respect cause i was a bit worried as a friend of mine who wanted to collect monthly hasnt gotten his interest debitd to his bank acc

  102. alicia said,

    November 7, 2007 at 4:52 pm

    In response to #93, Yardman (#92) got his information directly from C+ it was sent via email to him so the info is straight no rumors.

  103. Kevin2 said,

    November 7, 2007 at 9:32 pm

    HD, you are becoming quite the firebrand..LOL…How’s the trading tutorials going????…..this end we caught a few pips on the Loonie correction.

  104. DR said,

    November 7, 2007 at 10:33 pm

    Well well we really can’t keeping running from one club to another forever…. I know that some clubs are now requesting extra info from current members, because of some “new” banking requirement.

    We got to ride the tide at some point or another, just like the original members of Olint. If your heart is too weak then get out of High Risk Investments.

  105. DR said,

    November 7, 2007 at 10:36 pm

    Take a look at http://www.airjamaicajazzandblues.com/

    Olint (Turks & Caicus) is the TITLE Sponsor of Jazz and blues….. people, please ask the commercial bank managers to keep quiet…..our money is growing….we are all trading….that’s why we can sponsor Jazz and blues….

    Partners & Lenders, we shall overcome…..we are all in this thing together!

  106. DR said,

    November 7, 2007 at 10:40 pm

    BNS & NCB never allowed us to become “partners” or “lenders” to their CANADIAN banks, we only “deposited” into their companies, so we had to tek whatever dem did a give us.

    Now we the common blacks in Jamaica, have become PARTNERS and LENDERS in our own JAMAICAN companies…..ahhhhh can I get an Amen > >?

  107. HD said,

    November 7, 2007 at 10:44 pm

    Haah Kevin2 :-) ,

    I find once you pass the basics a lot of the material is quite similar so you can just speed read through and cherry pick the important information…..I did catch those loonie pips today…all 110 pips off the loonie today…demo account of course I am not good yet but I am slowly getting there.

  108. HD said,

    November 7, 2007 at 10:54 pm

    See on the gleaner online business page today LOJ making huge profits. In the same article they mentioned that all the big banks have surpassed 1 billion dollars in revenues per quarter…THEY AINT HURTING, and neither are they sharing so let them go screw themselves….I am going down there in the next few months to close some accounts and hell gwine bruk lose if dem tell me anything.

  109. DR said,

    November 7, 2007 at 11:20 pm

    #107 – -Take it easy HD……langugage might be a little too strong for Bill Clarke’s heart.

  110. Patricia said,

    November 7, 2007 at 11:36 pm

    AMEN, HALLELUJAH, SING DI CHORUS YE MIGHTY INVESTING WARRIORS!!!

  111. John said,

    November 8, 2007 at 12:23 am

    #94 I think Minvestment is a scam. Like you said you have not heard of anyone who has gotten their interest after 150 business days. That is because they have not been online since 2000 like they claim. Visit alexa.com and you will realize that their site has only been getting traffic since April this year. Also they have the same registration address in the BVI as another “company” name tingerinvest which is now long gone. They will soon be gone too I am sure especially since 150 business days from April is Nov/Dec. They might pay a few ppl their interest from progressive compounding to make it seem like they are legit. Then a whole lot of ppl will “invest” and then they run off. Just my opinion still…

  112. Patrick_D said,

    November 8, 2007 at 1:09 am

    Hi Gang,

    Good discussion as usual.

    #2 Diego,

    If you need information of F1, write to me at roots_man2@yahoo.com

  113. Joe Joe said,

    November 8, 2007 at 2:25 am

    HW is late again due to the banks.

  114. JSM said,

    November 8, 2007 at 2:26 am

    HEY GUYS, MEANS LADIES ALSO, I POSTED A COMMENT EARLIER THIS WEEK REGARDING THOSE OUT THERE IN OUR “WEALTH BUILDING WORLD” WHO WOULD LIKE TO GET INTO OLINT. IF YOU WOULD LIKE TO GET IN AND YOU ARE SERIOUS CONTACT ME AT jsm81065@hotmail.com.
    BEST OF EVRYTHING,
    JSM.

  115. VMS said,

    November 8, 2007 at 4:31 am

    Hi Ms A,
    Could you please send me a referral for Lewfam .. Thank you

    rashheed@hotmail.com

  116. VMS said,

    November 8, 2007 at 4:38 am

    I close my account with C+ today and when i went to NCB all they told me is that it will take 3 days to clear..Outside of that I think everything is fine..

    I just heard that cash plus is going to try and avoid the banks by giving its clients Credit card.. (not sure how that will work) but the idea is that it will be linked to a bank overseas and then every month your card is credited.. say that is so, wouldn’t people want their cash.

  117. Poor Risk Teka said,

    November 8, 2007 at 5:09 am

    VMS,
    its an international visa or mastercard branded DEBIT card that they hope to promote… it can be used just as you wld ur local debit card…. they also said if you have a credit card you could have your money send there also… in both cases i guess it would be some kind of cash advance system, if u wanted get ur cash…

  118. May Lazy said,

    November 8, 2007 at 5:26 am

    Has anyone had problems wiring money to MayDaisy?

  119. Andy said,

    November 8, 2007 at 6:41 am

    Can someone please refer me to MayDaisy or Olint?

    I am currently with lewfam but looking to diversify. Any help would be appreciated. My email is ahoang88@gmail.com.

    Thanks

  120. Anthony said,

    November 8, 2007 at 2:27 pm

    I am presuming that people in the banking sector are reading and realizing we are the people with the power as it is our money that they depend on to make their billions yearly, and if we should organize we could run on any bank and cause a turmoil. In this day with all the technology at our finger tips getting the word out would not be hard and with the low interest they pay I do not think people would be second guessing whether to pull if the dominoes started falling.
    Anyway to call a spade a spade went to transact business yesterday at NCB, JMMB, AND J National and I have to be fair with my comments the service was impressive from the all three clerks. the business had to do with wwise drafts and cash p checks. I had the feeling like the NCB lady was eating out of my hands ( I had gotten this feeling also on Monday from another clerk NCB) I made mentioned that I liked the new service and engaged her in a conservation. She said they had to be realistic in this new market and they are happy to know that at least clients were not closing accounts but only looking better to come back, and this was their position on the matter. I however argued the point that this was not always so. The lady at JMMB literally asked if it was cash p I was going, as they could do the check. At J National no problem to get wwise draft and the teller also suggested if I opened an account with as low as $20.00, I would not be charged for draft.
    Also on the point of the fee that is charged for lump sum fx deposits, J National said they will waive their fee if the money is lodged to their account for over six days, but wwise checks would be treated like how they treat overseas checks. I would suggest change check at RBTT and lodge cash at J National for over six days.
    Kindly note that NCB raised fees for some transactions, and has a fee guide booklet.
    Please share with the forum recent experiences with banks. So we can determine our next move.

    At cash p went there to do my regular business and saw a crowd of excited people willing to pull because of rumours, I agree that people should be free to do what ever but I really think that with that attitude, they chose the wrong investment, and lets face it u will never earn big returns without a little drama, that is what keeps the adrenaline pumping. They could also kick over the bucket of milk and put us all at risk so I only hope that if the captain steadies the boat they will not attempt to climb back on. I saw Mr Khallil Harris trying to calm them in the reception area.
    Cash p has to find a working solution to the glitches re the increased business
    because it can be rather frustrating on us. Premiere Plaza is quite spacious for regular business but yesterday it was a little crowded and as a result understaffed.

  121. Michael said,

    November 8, 2007 at 3:20 pm

    VMS # 115 The process is simple ,your cash is deposited in the overseas bank by Cash Plus and you go to any ATM and draw your money. There’s no hold time or anything. Not sure about ATM fees though.

  122. Patricia said,

    November 8, 2007 at 3:21 pm

    Anthony, as I am here slogging away at work, I saw your post. Brother, as I am Far North, I must say a BIG THANK YOU, as a foot soldier in keeping us informed on the real happenings.Fair, factual info is what will help to inform our decisions. I feel I owe many a drink(or two)….

  123. Anthony said,

    November 8, 2007 at 3:52 pm

    Hey Patricia,
    Thank u. If we continue to share info, maybe one day our host could plan a bottle party and we should all be able to afford a bottle or two.
    Let me also say for someone away u r always on the ball with your comments.
    Big up my sista.

  124. Babs said,

    November 8, 2007 at 5:08 pm

    Andre can you please find out about this new club called Zoom Accounting out of Ocho Rios. I am trying to get information about it but none on-line. From what i heard, the rates are
    US$1000-US$1499.99 10%
    US$1500-US$1599.99 15%
    US$2000-US$2999.99 20%
    US$3000 and over 25%
    Should we trust these new players. Can you find out what kind of business they are into and how they can give these big returns.
    This is not only for Andre I would love to hear everyone views on this. We are all our brothers and sisters keepers. We have to look out for each other and guide each other so we all can over come our struggle.

  125. HD said,

    November 8, 2007 at 5:46 pm

    Anthony, very good detailed feedback….well appreciated !

  126. Patricia said,

    November 8, 2007 at 6:10 pm

    Guys, Just to let you see some other perspectives. I think we should be aware of other things being said out there. At your convenience read through these blogs http://www.normalontheoutside.com/

  127. Kevin2 said,

    November 8, 2007 at 6:39 pm

    Folks,

    You all should see the link that Patricia sent above. Look at the comments posted to the article “David Smith is a celebrity”. These discussions keep you in check not to get carried away even in OLINT. As someone who knows about the fx market and trades occasionally, some of the comments there I can appreciate.
    All in all be vigilant.

  128. HD said,

    November 8, 2007 at 7:33 pm

    interesting reading.

  129. mathetes said,

    November 8, 2007 at 8:04 pm

    Thanx Pips.

  130. DR said,

    November 9, 2007 at 2:02 am

    #124 Babs – - How long has Zoom Accounting been around? How does one join this club? Is there a phone number, address or even email address for this club. After doing my own investigation I would make a decision…

    25% is very enticing. Even at simple interest you would double in four months.

  131. Pound Kat Ridge said,

    November 9, 2007 at 7:35 am

    I am so happy for you all, both the nervous and the brave.
    It is said that there are 3 types of people in the world, (1) those that wait for some thing to happen, (2) those that wonder what happen and (3) those that make something happen.

    Reading assingnment, Google Vince Vaughn’s Mother 25 milliom Scam

  132. Pound Kat Ridge said,

    November 9, 2007 at 7:36 am

    That should have been Vince Vaughn’s 25 Million Scam

  133. Pound Kat Ridge said,

    November 9, 2007 at 7:52 am

    Market Commentary, always remeber to diversify.
    The world economy is in turmoil. China and the US are having a political war behind the scenes mainly because china refuses to listen to us about contoling their currency. The trend for the dollar is lower.
    Gold and oil will go higher in the future even if there is a temporary pull back.
    The Central banks of the world will be struggling to mentain the fundamentals of capitalizim.
    As Gold was in the begining so it will be in the end

  134. the parkers said,

    November 9, 2007 at 11:37 am

    a nother one zoom acounting mi would like some info

  135. the parkers said,

    November 9, 2007 at 11:38 am

    zoomzoomzooommm

  136. DR said,

    November 9, 2007 at 12:53 pm

    Ready todays newspapers (finanacial section) Friday, Nov 9. Both the Observer and the Gleaner are realeased tons of info on investment schemes in Jamaica. One article states that there are 15 or more investment schemes in JA.

    Is the Oberver trying to bring down Cash Plus? there are more questions than answers?

    why are the banks afraid to anser the questions being asked by the Jamaica Observer…..?more questions than answers.

    re: Cplus : : RBTT will stop taking or issuing cheques Dec 15? really? Is this true?

    Its in today newpapers :::READ

  137. Babs said,

    November 9, 2007 at 12:57 pm

    Dr., the parkers RE: Zoom Accounting. Email me at 4everjcan@gmail.com and I will forward the info I got. Let me know the result of your investigation.

  138. DR said,

    November 9, 2007 at 1:10 pm

    Apparently even people in the media are reading our blogs…so people be careful what you say….. A copy of somebodys comment was in the newspaper today….It was from one of the popular financial blogs…that we all read….No, No… no identify was given of the individual

  141. Patricia said,

    November 9, 2007 at 2:52 pm

    I notice that the blog from which the “Against CashPlus” comment was extracted now has none of its contents up….hhhhhhmmmm…dont know if its a glitch…..interesting…I agree with DR…careful what you say…..I can tell you that Jthe rock getting a lot of international attention re these HYIS, and FX trading fever…Many other blogs out of the Eastern C’bean, notably Barbados blogging on what’s going on here….there’s even an economist from the World Bank that has been blogging about it……..sometimes …..the silence is golden rule very relevant…..Have a good weekend…continue to keep your ears to the ground

  142. Sheraig said,

    November 9, 2007 at 2:53 pm

    can anybody state what is the minimum amount required to open a Canadian account with Cashplus. Thanks

  143. Babs said,

    November 9, 2007 at 3:00 pm

    Mathetes
    Is the Citibank in Jamaica connected to the Citibank in the States? What bank the Bank of America is connected to in Jamaica?

  144. Anthonythelandman said,

    November 9, 2007 at 3:03 pm

    Check this out ppl
    Alternative investments for USA folks: Hi folks I have spent many hours researching a number of investments. Forex is very risky but here is a few I like they are high yield and the companies have a good track records

    http://www.fmalp.com/

    CPA certified results!! Will show clients portfolio, 5-15% return per month. No losing sets (three trades sets)30,000 USD min
    Dr. Glen Brown Brown, http://www.prolificinvestments.com NO losing trades, has sent me acct records but waiting for Oct results.(supposely 10% OCT) 25,000 USD min

    forex4winners.com Spoke with trader myself, very confident, no losing month
    10%+ a month 10,000 min

    ETF trading..http://www.reboundtrading.com/ 40 years of experience this man knows his stuff. 25% + a year low risk

    Email me if you want to chat this is not an endorsement just info to check out

    anthonythelandman@yahoo.com
    I am in no way associated with any of these companies or individuals.

  145. DR said,

    November 9, 2007 at 3:08 pm

    Who has ears to hear let them ear. Do you have eyes to see?

    Think with me through the following:

    Bruce is not a fool…even Omar said so.

    Watch this: Could it be that it was Olint and Cash Plus people that voted out the PNP?

    Notice Bruce said on TVJ Business day re: Alternative investment:
    “People are free to do what they want with their money, we only protect the 5 commercial banks – - if people want to take high-risk its up to them. but if it crashes don’t come to us”…..

    Others have said “We gwine lock them down!”

    Why is the Head of FSC leaving Jamaica so soon after the JLP has won?

    My major concern is…since some of the commercial banks are beginning to take action against Cash Plus…then someday they will start taking action against all other clubs.

    Olint is still in Court….CashPlus is about to go into court with the FSC…so did the FSC say….they may want to see the outcome of those cases before they lock down the others…..

    should we be concerned about opening off-shore accounts?. Bruce and Don Wehby is working on an off-shore bank here in Jamaica…but I am not sure that we would be allowed to become clients.

    Bruce said ” We may not all be rich but no one has to be poor”…remember that? Bruce is not a fool….he knows he has 5 years to prove himself, even Omar and Audley knows that. (Bill knows that too…he is getting closer to retirement)…..maybe Bill is upcomfortable with Bruce….hahaahahaha read between the lines…..

    Bruce is not a fool: (Omar Election 2007)

  146. HD said,

    November 9, 2007 at 3:54 pm

    Have anyone heard there anything related to WW recently that is worth repeating ?….kind of an Eerie silence on the WW front. Is RBTT saying anything about WW cheques ?

  147. HD said,

    November 9, 2007 at 3:55 pm

    Anyone other than Mr Investor….know about the 3 million dollars already

  148. DR said,

    November 9, 2007 at 4:02 pm

    I know that when you lodge WW (rbtt dominica dr) cheques to your account they may take 30 – 45 days before it is cleared. It happened to a friend of mine.

    Not sure why?

  149. Yardman said,

    November 9, 2007 at 4:12 pm

    WILL DB&G BE PROSECUTED / Jamaica Observer 11/9/07

    Bruce-Miller calls on DPP to prosecute DB&G over front-running case

    Al Edwards
    Friday, November 09, 2007

    Chartered financial analyst and former JMMB executive, Steven Bruce-Miller, is calling on the Director of Public Prosecutions to invoke legal proceedings against Dehring Bunting &Golding (DB&G) in a “front-running” case that has gone before the Jamaica Stock Exchange (JSE).

    Front-running is the illegal practice of stockbrokers executing orders on a securities for their own account before filling orders previously submitted by their customers. After the brokers have made their original transaction, they can expect to close out their position at a profit based on the new price level.

    Front-running may involve either buying (where the brokers buy for their account, driving up the price before filling customers’ buy orders) or selling (where the brokers sell for their own account, driving down the price before filling customers’ sell orders.

    For example, if a broker buys 20,000 shares of a stock for J$100 per share just before buying a large block of 400,000 shares for a customer, he may drive the price up to J$102 per share. If the broker is able to sell his newly purchased shares at J$101.75, he will have made J$35,000 in a few minutes. This J$35,000 is likely to be only part of the additional cost to the customer’s purchase caused by the broker’s self-dealing.
    The broker has put his own financial interest above (or in front of) the customer’s interest and is thus committing fraud. In the US he might also be breaking laws on market manipulation or insider trading.

    Bruce-Miller’s claim was that DB&G purchased 542,000 units of JMMB shares on a day that 605,000 units were traded, before purchasing 50,000 shares of his 200,000 share order on that day.

    “They bought 50,000 units for me at J$12 at the highest price in the market after they had gobbled up all the shares that were available at lower prices for their own portfolio,” said Bruce-Miller.

    Bruce-Miller maintains that his order was received by DB&G on June 29, 2006, with the investment house placing their order on the system on July 3, 2006. The following day, Bruce-Miller says, his order was modified and within seconds of this taking place, DB&G modified and executed their orders to purchase 542,000 units.

    Later that day, DB&G purchased 50,000 of my 200,000-unit order and then bought for themselves the 9,000 units I instructed them to buy.

    “In the previous month (June 6), I bought over 200,000 units of JMMB shares on the JSE. These shares were transferred to the Trinidad Stock Exchange and sold profitably. I think that what happened here is that DB&G saw me making a profit and decided to do the same transactions. While I have no problems with DB&G doing the same trades, it must be done fairly,” declared Bruce-Miller.

    On September 25, 2006, Bruce-Miller referred the matter to the Jamaica Stock Exchange (JSE) pointing out that it constituted a breach of Section 41 of the Securities Act. The JSE in turn conducted a due diligence exercise and requested that DB&G settle the matter amicably.

    With no resolution arrived at, the general manager of the JSE, Marlene Street’s referral letter to the Disciplinary Committee on March 7th, 2007 read:

    “Given that client order must take precedence over House/Principal Accounts, DB&G appears to be in breach of the JSE trading rules and the Securities Act.”

    The JSE then made a recommendation that read:
    “Given that there seems to be a charge to which DB&G is answerable, that is the priority of trade given to the principal members instead of the client, whether, through mistake or not, the general manager is recommending that the Conduct Review Committee consider the issue and make a determination.”

    In July of this year, DB&G’s then chief operating officer, Garfield Sinclair, told the Jamaica Observer that there was no foundation to Bruce-Miller’s claim.

    A leading attorney speaking on condition of anonymity said: “This is the first case of its kind in Jamaica and it is attracting a lot of attention. I am of the opinion that the DPP will indeed get involved.”

    Speaking with the Business Observer last night, Bruce-Miller said: “I have written to the Director of Public Prosecutions inviting him to consider prosecuting DB&G for breach of Section 41 of the Securities Act as they gobbled up for themselves shares I gave them instructions to buy for my account. They have done this despite receiving my order first. I have in my possession four different correspondence with four different items of explanations from DB&G attempting to explain why they ‘front-ran’ my order”.

  150. Patricia said,

    November 9, 2007 at 4:33 pm

    Bwoy, DR there are so many things flying around…in some corners it is said that the one who is no fool basically got a blank cheque from those whom the FSC, in their infinite wisdom, conducted a “gestapo” type raid against. You may also remember, that b/4 election PM of TCI was a special guest of certain ones to discuss number of things including off-shore financial centre, then once, he who is not a fool, was being sworn in, TCI PM , front and centre as “specially invited guest”……………We just have to continue to watch an’ see an’ look an’ learn

    Another thing, as a local you wouldn’t be able to open an off shore aacount in JA, but..you can open an off shore account elsewhere. For eg. in TCI, there is Scotia and First Caribbean, just for starters. In fact, at 1st Caribbean, the minimum to open an Offshore account is $100,000.00. In TCI, there are no Tax treaties with any country, no income tax, land tax, capital gains tax..you name it…..watch an’ see, look an’ learn.

  151. Charliebabe said,

    November 9, 2007 at 5:10 pm

    Can someone provide me with some Info about Achievers Union.

  152. JK said,

    November 9, 2007 at 5:30 pm

    DR u sure this wasnt the problem with ur friend:

    this is a notice to partners only but i showing u all here
    Dear Partners,

    Some partners have been calling re their profits for the month ending October 30, 2007.

    World Wise Partners Ltd. wishes to clarify the following procedure. When you enter into your partnership agreement during the month, profits will accrue prorated to the end of that month, but no profits will be payable until the end of the following month .

    This is in keeping with the policy where you have to be a partner for 30 days or more before profits are made payable.

  153. DR said,

    November 9, 2007 at 6:28 pm

    #149 Jk, as far as I know, WW is ok. So far they seem to be the only club that pays on time. In the meantime…Patricia #147, thanks for that piece of information. This blog is good for all of us….that’s how we get to learn.

    In the meantime, I am working on ZOOM. They may very well be a real company people….Keep listening.

  154. DR said,

    November 9, 2007 at 6:30 pm

    but Patricia and others….hope you all are noticing that a certain club out of TCI is going to be the presenting sponsor for JAzz and Blues in January. Again, I say unto you….Bruce is no fool!

    It must be that CP and “O”…feel more comfortable now.

  155. mathetes said,

    November 9, 2007 at 6:59 pm

    Greetings friends

    This is the LATEST.
    US cheques drawn on local bank accounts only take 6 days. But if a US cheques is drawn on a international bank account they are held for 30 days. Local cheques are cleared within 3 working days. WW are encashed the same day at RBTT dominica.

    Very good sources indicate as it relates to CashPlus’ account, their deposits have been less than 50% of what it use to be in prior months. Conversely, their withdrawal have increased.

    The citibank in Jamaica is connected with the citibank in the US. I dont know of a Bank of America branch in Ja.

    I will try to find out some info on Zoom.

    Andre

  156. JK said,

    November 9, 2007 at 7:01 pm

    Bank of America can use Scotia’s ATM

  157. Kevin2 said,

    November 9, 2007 at 7:01 pm

    Think about this fellow bloggers. With all the upheaval out there in the media about C+ why is there no talk of the other clubs. What about Lewfam, F1 etc.? Not a word………..media is quiet as a mouse. Even OLINT’s name is being mentioned less and less. What I believe is that the big guys are getting into OLINT more and more but through Lewfam. Since OLINT not taking any new members, they can only participate through Lewfam where they can have their own account. So I wouldn’t look to anything happening soon regarding these other clubs. I for one know some big guys in F1. If the big guys were all in C+ I don’t think all this media talk would continue hence I believe they are all in OLINT through Lewfam and they don’t really care what happens to C+.

  158. Anthony said,

    November 9, 2007 at 7:11 pm

    I was told that ww checks r treated like overseas checks by some banks hence the delay, however RBTT cashes them without fuss and I am sure no bank is going to turn back the cash. All that they will do is charge for anything that exceeds $1000 when u deposit.

  159. Sheraig said,

    November 9, 2007 at 7:13 pm

    Someone really out to bash Cashplus:

    Cash Plus : more questions than answer

    As speculation swirls around Cash Plus and the company threatens legal action against persons spreading “malicious rumours,” Caribbean Business Report takes a look at the various issues confronting Cash Plus.

    Issue # 1 – Bankers’ blockage
    In a series of advertisements, Cash Plus states that it enjoys a good working relationship with its bankers. However, sources tell this newspaper that at least two commercial banks have informed its staff not to prepare cheques payable to or accept cheques from Cash Plus. Additionally, there is word that banks have started to issue sanctions against workers who are known to process loans for customers who then take the money to Cash Plus.

    Reliable sources say that in response, Cash Plus will be issuing debit Mastercards to their clients to ensure that they have access to money as more and more banks restrict their relationship with Cash Plus.

    The five commercial banks were approached in order to obtain a definitive position on their relationship with Cash Plus. The official word from First Global Bank (FGB) is, “FGB accepts cheques drawn on any licensed/approved financial institution, as required by the Bank of Jamaica, irrespective of the drawer.” Kerry Ann Betton Stimpson, marketing manager added that, “FGB has also taken no such decision, not to issue cheques payable to Cash Plus.”

    Information reaching the Observer is that RBTT will, as of December 15, no longer process cheques received from Cash Plus. A source in the executive ranks stated that the RBTT executives are in a planning retreat in the country, however, he is not aware of such a directive.

    Joylene Griffiths Irving, director of corporate communications at the Bank of Nova Scotia Jamaica stated that, “We have no comment at this time. As you know, Cash Plus is a sensitive matter.”

    In regards to the National Commercial Bank (NCB), information reaching this newspaper is that NCB customers say that the bank is deliberately slowing the processing of cheques received from Cash Plus. Courtney Campbell, head of retail banking responded, “NCB is a well-respected institution. We handle all our customers with the highest degree of professionalism.”

    Campbell went on to say that he cannot confirm or deny that his bank will no longer process Cash Plus cheques or that NCB is deliberately slowing the process of such cheques.

    “I can’t comment on that. Any arrangement with our customers is something that I cannot speak about. We have a duty of secrecy.”

    Milton Brady, head of First Caribbean International Bank was said to be in meetings and was unable to comment.

    Issue #2 – Financial statements
    Cash Plus has promised that it will publish financial statements before yearend to satisfy detractors who question the business model.

    An investment analyst who spoke on the condition of anonymity explained the situation this way: “Financial statements are laughable. now they can show assets, because the company purchased over 80 companies with other people’s money. But are those companies profitable and all cash flow positive? That is the real question.”

    Another problem analysts have with the company is the way it includes assets in its portfolio. Another broker speaking confidentially stated, “What Cash Plus does is as soon as they pay down some money they make a big production in the media that they have bought property. What is their real ownership of the 80 companies they say they own?”

    Which leads to the third issue – has Cash Plus actually bought the assets it says it has – especially the Hilton Kingston Hotel and Mainland International Hardware?

    Issue #3 – Show me the money
    Critics say that Cash Plus has not paid over the sums owed. There are reports that in most cases only a deposit has been paid over and that the monthly payments on the properties are not forthcoming. Without the financial statements and property deeds, it is hard to say. Nevertheless, sources close to Ron Kelly, the former owner of the Hilton Kingston Hotel, say that he is indeed receiving his interest payments from Cash Plus at his home in New England. And according to Garth Walker, vice president of marketing at Mainland, he is not aware that Cash Plus has not made its monthly payments.

    Issue # 4 – Investor confidence
    The lack of transparency fuels the rumour mill. Cash Plus has not convincingly answered the question as to how it makes money. What the company has stated in the media is that “self-serving individuals who talk against Cash Plus risk hurting the investment/trading community.” A search of one online blog (http://cashplusinvestment.com/rumors/) reveals that investor sentiment on Cash Plus is split down the middle.
    For Cash Plus:
    I mean because of Cash Plus and all these other investments clubs, poor people are really seeing a little light at the end of the tunnel. Have you ever seen the financial statements for the banks and see how much billions of dollars they make each year. I must commend Mr. Carlos Hill for doing a great job. Being a member of Cash Plus for one year I was able to purchase a brand new car, something I never dreamt of doing with just my meagre salary.

    Against Cash Plus:
    Well, it so turns out that my cousin’s husband works with the bank that Cash Plus banks with. He told me that the cheques are coming in faster than there is money in the account. In fact yesterday he said that three cheques came in for three “very prominent individuals” that when combined was so much that it almost put one of their operating accounts into overdraft. So, it would seem that all the “society” people taking out their money and how much are you willing to bet that is poor people money this thing going down wid.

    In fact I was watching the news on TVJ tonight and the operations director was being interviewed, trying to alay the fears of the investors. The only suspicious part of this is that he was off camera. What would he be afraid of? Couldn’t he come and look directly into the camera and tell the investors that the company not crashing? Or better yet. if you have nothing to hide get the director of communications to do it.

  160. mathetes said,

    November 9, 2007 at 7:34 pm

    I think Cashplus actually has accounts at more than one banks.

  161. Sheraig said,

    November 9, 2007 at 9:30 pm

    Can anybody state what is the minimum required to open a Canadian account
    in Cashplus

  162. DR said,

    November 9, 2007 at 9:54 pm

    From the Jamaica Observer Friday Nov 9, 2007
    Read:

    Will the real Carlos Hill please stand up?

    Friday, November 09, 2007

    Case 42 F.3d page 914 reads: “United States of America (Plaintiff-Appellee vs Carlos Hill, (Defendant-Appellant).
    United States Court of Appeals, Fifth Circuit, January 9, 1995 (Page 915)”.

    Indicted on 14 counts, Hill pleaded guilty to the first: conspiracy to commit wire fraud, in violation of 18 USC Sections 371 and 1343.

    The factual basis for the plea may be briefly summarised as follows: Between May and December 1990, co-defendant David Arthur Lloyd represented to Hill that a person (fictitious) owned Government National Mortgage Association (GNMA) securities, and had executed a trust agreement, assigning the securities to Lloyd or his company, as trustee. Lloyd obtained valid GNMA pool numbers and used them to create the necessary documents, such as negotiable promissory notes and pledge agreements.

    Hill, who became aware of the fraudulent nature of the scheme, agreed with Lloyd to ‘rent’ the GNMA securities to individuals or companies who needed assets for use as collateral, or to enhance their balance sheets. In December 1993, the district court sentenced Hill to 57 months’ imprisonment with the sentence to run consecutively to a prior undischarged sentence of imprisonment imposed by a federal court in New Jersey for an unrelated offence.

    In short, what this Carlos Hill did was to use dubious assets to make balance sheets look better than they really were, in other words he created an illusion which constituted a deception. No reputable auditor would ever put his or her name over the accounts of an entity that has a dodgy reputation – not a PriceWaterhouseCoopers, not an Ernst&Young, not a Deloitte. The quality and reputation of an auditor’s signature over the accounts is always a telling story.

  163. DR said,

    November 9, 2007 at 10:05 pm

    Well this is an open letter to the Commercial Banks.

    Please consider starting a Fxtrader account within your banks…we would be happy to put back some of our money with you all….if you even gave us a promise of 7% per month (after tax)….even as low as that….mark you, some people are getting as high as 20 – 25% per month….(bear that in mind).

    Remember David Smith was doing the same thing for JMMB….I wonder what he did at BOJ? (Did he ever work there?)

  164. DR said,

    November 9, 2007 at 10:08 pm

    I move the motion…David Smith should get Order of Jamaica or National Hero.. agree?

    The other “borrowers” or “Chief Partners” could get honorary doctorates….

    What say ye all?

  165. TheOne said,

    November 9, 2007 at 10:56 pm

    Rading this blog is now like watching a soap opera…can’t wait for the next episode.

    Still, it’s informative and sets the stage for good decision making in relation to these investment schemes. Thanks for every word.

    Keep the research going and the comments coming.

  166. Jcan said,

    November 10, 2007 at 2:06 am

    Investment Bloggers!
    This is an interesting site with an even more interesting blend of people/investors/lenders/bankers/Double Crossers…You know who you are!

    Why the fight on CP? All this negativity! This is a club that has helped thousands….Now this club needs its longstanding partners/investors support!!! Where are the supporters? Are you all going to bury your head in the sand and rush to get not even your money, since many of you have gotten your monies several times over.

    Don’t be fooled, the big banks is not your friends and does not care 3% about the poor…What they are looking at is their bottom line! Not yours!

    Cash Plus, OLINT, WW, HW, ZOOM, Lefam etc. has shown the poor man that they can do without taking bank loans…send their children for higher learning without student loan putting a chain around their neck……

    To the media, the banking sector and all the other USERS of the poor…
    Yesterday was “OLINT”…Today is CP…Who next??? United we stand…

  167. Babs said,

    November 10, 2007 at 2:23 am

    Amen!!! Jcan
    United we stand….Not pulling my money. I will support them all the way. Ready to put some more money in.

  168. Patricia said,

    November 10, 2007 at 3:05 am

    For my trading friends, especially those trading the USD/CAD , and ofcourse for general interest reading http://www.thestar.com/columnists/article/266412

  169. Joelle Clayton said,

    November 10, 2007 at 3:53 am

    #158 the min CAD which u can invest in cash + is $3000.00. The same goes for all other foreign currencies which only include USD and GBP.

    CASH PLUS LIMITED CORDIALLY INVITE YOU TO A MEETING WITH THE CHAIRMAN. TOPIC: “THE PROGRESS WE HAVE MADE IN BUILDING A BRIGHTER FUTURE FOR JAMAICA. A PRESENTATION OF THE FACTS.”

    THIS SUNDAY NOVEMBER 11, 2007 @ 6PM SHARPE.

    THE NATIONAL INDOOR SPORT CENTRE.

    PLEASE BRING SOMEONE WITH YOU.

    PLEASE BE ON TIME!

  170. DR said,

    November 10, 2007 at 11:21 am

    Think on these things: Came out in Friday’s Gleaner Nov 9:

    Investment clubs not exempt from licensing – FSC
    published: Saturday | November 10, 2007

    John Myers Jr., Business Reporter

    The Financial Services Commission (FSC) has warned that those entities purporting to be ‘investment clubs’ rather than securities dealers were operating illegally as they too are required to have a licence to operate.

    A number of high-yield investment schemes, which define themselves as clubs and not traders, have been claiming that their operations fall outside the ambit of the FSC.

    But deputy executive director of the regulatory agency, George Roper, said Wednesday that investment clubs, based on the stipulations used in other jurisdictions, were limited by the number of members involved in the club and all members were required to participate in deciding in the type of investments entered into, counter to what obtains with local entities.

    “If you have one or two persons who are making the investment decisions then those one or two persons will have to be licensed as investment advisers,” Roper advised at the latest ‘Think Before You Invest’ public forum hosted in Kingston by the regulator.

    “The important thing to note is that there is no exemption from licensing for ‘investment clubs’ in Jamaica,” he stressed.

    healthy portion of investments

    Addressing the concern of the likely impact high-yielding investment schemes would have of the island’s financial sector should they crash, the FSC executive said the legitimate financial sector was still handling a healthy portion of investments in Jamaica and therefore the fallout would not lead to a financial meltdown as the case was in Albania.

    The formal sector is valued at about $1.2 trillion, whereas loose estimates of the high-investment scheme funds have been placed at about $150 billion.

    Olint and Cash Plus are said to command the larger portion of those investments.

    Roper said the FSC did not have knowledge of how much money was invested in these schemes when asked about the 25 per cent of GDP estimate that is bandied.

    The agency, however, estimated that there were at least 15 schemes offering high-return investment to Jamaicans at this time.

    Returns range as high as 18 per cent per month offered by Cash Plus and 25 per cent per month on offer from SwissCash before it disappeared from the radar in July.

    taking action

    As to whether the FSC will intervene in any of the operations, Roper said: “We wouldn’t discuss plans to intervene with the public.” But: “At anytime that we will be taking action, the public will be advised – at the appropriate time.”

    The FSC is in litigation with Olint to determine whether it has jurisdiction over the foreign exchange trader’s operations.

    john.myers@gleanerjm.com

    TAKEN FROM THE FINANCIAL GLEANER, FRIDAY, NOVEMBER 9, 2007

  171. Patricia said,

    November 10, 2007 at 11:56 am

    And the saga continues with the investment clubs and the FSC….read this
    article from the Financial Gleaner………..

    http://www.jamaica-gleaner/20071110/business/business2.html

  172. Patricia said,

    November 10, 2007 at 12:01 pm

    http://www.jamaica-gleaner.com/gleaner/20071110/business/

    Take a look at this…the saga continues with the FSC and the investment clubs

  173. Investment Tech said,

    November 10, 2007 at 12:25 pm

    there are many clubs popping up could any one give a rough estimate?

  174. DR said,

    November 10, 2007 at 2:31 pm

    There are at least 20 investment clubs in Jamaica….some of which are very exclusive. Only 2 clubs are inclusive…WW and CP

  175. DR said,

    November 10, 2007 at 2:32 pm

    Investment clubs not exempt from licensing – FSC
    published: Saturday | November 10, 2007 THE DAILY GLEANER

    John Myers Jr., Business Reporter

    The Financial Services Commission (FSC) has warned that those entities purporting to be ‘investment clubs’ rather than securities dealers were operating illegally as they too are required to have a licence to operate.

    A number of high-yield investment schemes, which define themselves as clubs and not traders, have been claiming that their operations fall outside the ambit of the FSC.

    But deputy executive director of the regulatory agency, George Roper, said Wednesday that investment clubs, based on the stipulations used in other jurisdictions, were limited by the number of members involved in the club and all members were required to participate in deciding in the type of investments entered into, counter to what obtains with local entities.

    “If you have one or two persons who are making the investment decisions then those one or two persons will have to be licensed as investment advisers,” Roper advised at the latest ‘Think Before You Invest’ public forum hosted in Kingston by the regulator.

    “The important thing to note is that there is no exemption from licensing for ‘investment clubs’ in Jamaica,” he stressed.

    healthy portion of investments

    Addressing the concern of the likely impact high-yielding investment schemes would have of the island’s financial sector should they crash, the FSC executive said the legitimate financial sector was still handling a healthy portion of investments in Jamaica and therefore the fallout would not lead to a financial meltdown as the case was in Albania.

    The formal sector is valued at about $1.2 trillion, whereas loose estimates of the high-investment scheme funds have been placed at about $150 billion.

    Olint and Cash Plus are said to command the larger portion of those investments.

    Roper said the FSC did not have knowledge of how much money was invested in these schemes when asked about the 25 per cent of GDP estimate that is bandied.

    The agency, however, estimated that there were at least 15 schemes offering high-return investment to Jamaicans at this time.

    Returns range as high as 18 per cent per month offered by Cash Plus and 25 per cent per month on offer from SwissCash before it disappeared from the radar in July.

    taking action

    As to whether the FSC will intervene in any of the operations, Roper said: “We wouldn’t discuss plans to intervene with the public.” But: “At anytime that we will be taking action, the public will be advised – at the appropriate time.”

    The FSC is in litigation with Olint to determine whether it has jurisdiction over the foreign exchange trader’s operations.

    john.myers@gleanerjm.com

    TAKEN FROM THE FINANCIAL GLEANER, FRIDAY, NOVEMBER 9, 2007

  176. DR said,

    November 10, 2007 at 2:36 pm

    Yes Patricia,,,,I read that article…they will always fight against making regular people rich and comfortable…Money is power in Jamaica….we’ll just continue to spread the risk….there are enough club to run to….Clubs in Negril…Kingston, spanish Town…and not to mention Ocho Rios….

    You can get 10%, 12%, 14%, 18%, 20% and even 25% in Jamaica. The exclusive club pays over 75% per month..I have heard…..not so sure how true.

    Partners and Lenders, we continue to press on. FIGHT! we shall overcome

  177. Patricia said,

    November 10, 2007 at 10:54 pm

    I thought I might add some humour here, this is a fantastic post extracted from the Dentontyndale Blog, posted by “Smarter” in June 2007……grab a cold red stripe or whatever your fancy, but it mirrors or sentiments, and I think is the “Post of the Year”…….Enjoy

    SMARTER SAID……
    Let me tell you what is Immoral and what SHOULD BE ILLEGAL, IF IT IS NOT ALREADY!

    - Banks taking your money and lending it to other people – sometimes your mortal enemies- and paying you a fraction of what it has earned for them…and sucking out a bit of that fractional payment to give a GOVERNMENT

    - Governments who eat out 33.3% of your salary on payday, gouge out of the remnant another 16.5% because they know you have to buy food, clothes and services

    -Governments who then proceed to instruct their partners in CRIME (BANKS) to not lend you any money, unless you can prove that after they have robbed your entire paycheck, you have money left over to use as security

    -GOvernments and BANKS who after taking your all, collecting your savings, then go into your surplus and suck out more like vampire bats “Barney come inna de night just aroun’ midnight”

    _Governments and BANKS who “dont have” the resources to protect us from being robbed, raped, stabbed, killed on the road like mongoose by drivers who have purchased a drivers licence – WHICH THE GOVT KNOWS BUT DOES NOTHING ABOUT..WHY

    -Because the only time Government and their cohorts BANKS get really involved in people’s business is when MONEY is involved.

    So now all of you want to help us poor EEDIATS who have managed to scrape some remnant of our paycheck together, from LOSING IT? What is the fucking difference David Smith TIEF it from ME? IF HE TIEF IT, at least he offered something in return. What the ras the government and the f….g banks dem offer? YOu ever try to get a loan in this country for anything other than a damn motor car? YOU ever try send pickney to school abroad with a fri….g dollar devaluing every day because of the r..scla..t banks and GOVERNMENTS?

    Shut all you ass up about being legal..how many of you sleeping with men, committing fornication, being incestuous, ripping off the people who buy from your shop, doing shoddy work……? Legal..? THANK GOD FOR DAVID SMITH and any other person out there who can save my money from the greedy, thieving, assholes called BANKS AND GOVERNMENTS…

    I not paying Government to look after my money..that is what I have a brain for..I paying them to fix road. keep down crime, build hospitals, train educated teachers, and provide jobs…not to run down my last hope of being able to provide for my family. Money laundering my ass! Is only the CRIMINALS who can ALWAYS get a bank loan from MY SAVINGS, who is money laundering! The big bway dem, genetically connected…dem deh. Small fry no inna money laundering so we no haffi fret………BIG UP DAVID SMITH! GOD BLESS YOU AND STRIKE YOUR DETRACTORS WITH BRIMSTONE AND LIGHTNING! A POX UPON THEIR HOUSES THESE WHITED SEPULCHERS FILLED WITH THE BONES OF THE DEAD AND DYING JAMAICAN TAXPAYERS!

  178. winhd said,

    November 10, 2007 at 11:26 pm

    Hey Guys and Girls check this out. Essentially what they are saying is , with these alternative investment programs, our brains get way more satisfaction and a greater rush from seeking and anticipating the high returns but we are never really as satisfied or get as much of a rush from the realization of getting those actual returns…..my interpretation is that if this is true then it stands to reason that if these programs should crash or shutdown for any reason at all then most of us will be caught holding the bag and only a few would have really escaped ahead of the game.

    Your money and your brain

    Humankind evolved to seek rewards and avoid risks but not to invest wisely.

    http://money.cnn.com/2007/08/14/pf/zweig.moneymag/index.htm

  179. May Dazy said,

    November 10, 2007 at 11:39 pm

    Has anyone wired money to MayDazy ? Did the wire transfer go through?

  180. David said,

    November 10, 2007 at 11:58 pm

    #173 Could you give me a invitation to MayDaisy. Thanks
    pork.chop10@hotmail.com

  181. David said,

    November 10, 2007 at 11:59 pm

    OR Could anybody give me a invitation to MayDaisy

  182. Poor Risk Teka said,

    November 11, 2007 at 12:51 am

    #171
    Patricia, that post that was good LOL… I guess they must have really struck his/her chord… humour alright

  183. May Dazy said,

    November 11, 2007 at 12:57 am

    Could someone answer my question?

  184. Mellonie said,

    November 11, 2007 at 1:41 am

    Hey Patricia!

    #171,……… LOL! He/she got my vote for “POST OF THE YEAR”.

    Government junior minster and parliamentarian Errol Ennis, in his letter to the editor of The Jamaica Observer, Wednesday, January 24, 2007 said:

    Following is the full text of Ennis’ letter.

    Dear Editor,
    The Gestapo-like invasion of David Smith’s office last year as conducted by the Financial Intelligence Arm of the Financial Investigation Division was a vulgar abuse of state power and highly reflective of the actions of a totalitarian state.

    It was designed to destroy both the company and the man’s reputation in one fell swoop. It was even more frightening, given that to date, no clear statement has emerged as to the exact legal infringement committed by the company. The “Cease and Desist” order served on the company was somewhat akin to brute force when it was clear that the intended effect of the raid, to create a run on the company’s office, did not materialise.

    Foreign exchange trading is the largest trading platform in the world, many times larger than the stocks and shares markets in the world when combined, larger than all the commodity markets in the world.

    There are many large and small companies, larger trading houses and millions of individuals trading 24 hours per day, six days per week in the Forex Market. Tremendous trading expertise, aided by modern technology, are the critical tools to be successful in the market. Huge losses and huge gains are the trademarks of this most volatile market. If the greed factor can be tempered, then steady profits can be generated.

    To the individual trader of small investors with Olint Corporation, the Forex Trading Market is their period of financial enlightenment, releasing them from the hegemonic control of the high priests of the financial clergy. The traders are enjoying an economic renaissance, freed from the controls of the financial institutions. The invasion of Olint’s offices was, therefore, nothing more than the action of a bunch of economic luddites, scared and uncertain of a bright new world.

    It is difficult and near impossible for any rational and sensible investors to accept a rate of return on their investment of 8% – 10% per annum, when they could earn as high as 60% – 120% in the same period. Admittedly, the risks are higher, but fully consistent with fundamental capitalist dictum: “The higher the risk, the higher the profits”. Indeed, there has always been a direct and positive relationship between the level of risk and the level of profits.

    The protection of the club members as claimed by some, though on the surface laudable, would best be directed at the manifest manipulation of other investment markets that go on daily in the Jamaican economy, to the clear detriment of the small man.

    There were expressed fears that the success of Olint/David Smith, would lead to capital flight. Olint’s operation initially involves movements out, but it also involves a compensating inflow of foreign exchange. Any detailed analysis of the company’s operations would have clearly shown these trends:

    1 The club members were prepared to be exposed to a high degree of risk for the first year, in which time they could double their investment;

    2 The club members were repatriating their risk capital to the low performing financial sector within a year, so as to average out the level of risk to their investment portfolio;

    3 The capital reflows were actually equal to greater than the outflows:

    4 The earnings were tantamount to export earnings with no indexed outflow after the repatriation of the initial capital investment;

    5 The club members were largely relative small investors with no significant capacity for parking their money in off-shore accounts as is the norm for so many of the traditional large investors; and

    6 That Olint’s aggregate earnings and foreign exchange reflows had reached over US$3 million weekly and peaked to over US$7 million in the November – December period.
    Olint’s operations and other traders should be encouraged as a possible boon to the Jamaican economy, although it has some inflation impact. For me, it is a preferred trading activity to the Stock Market, as present conducted in Jamaica. In any case, there is no way to prevent anyone from trading on the Forex Market. There are some who have attempted to use the economic, social and political clout to bash Olint’s operations.

    There is no crime in using honest means afforded by today’s technology, coupled with specialised skills to afford many Jamaicans to get “rich quicker”. The alternative is putting their money in the banks and financial institutions and watch others get richer and richer, while their own returns are a measly 8% per annum, below the rate of inflation. In any event, getting rich quickly was never a crime.

    The hundreds of small investors were not cowed and intimidated by the FSC’s attempts to destroy Olint Corporation and David Smith and, by extension, to destroy their economic prospects. The Forex Trading Market has afforded new, young, non-traditional players to parade their skills and help a lot of small Jamaicans to have their days in the sun and to help them reach their goals.

    David Smith, may God continue to shower many blessings on you and Olint. We the children of a lesser god depend on you to help us get rich.

    David Smith, don’t stop at all…

    Bloggers, good to know that we have been keeping each other informed and educated. Mmmmmm….. I can’t leave-out the ones that are very entertaining……….LOL!

  185. Paige said,

    November 11, 2007 at 1:50 am

    Can someone provide a referral to May Daisy. My email address is pattypage73@aol.com. Thanks

  186. MD said,

    November 11, 2007 at 2:08 am

    What are you willing to do for an invite Paige ?

  187. Paige said,

    November 11, 2007 at 2:17 am

    MD, how come you didn’t ask anyone else what they would be willing to do???LOL

  188. Chris said,

    November 11, 2007 at 2:40 am

    Patricia that was a really funny but true post!…I cant help but agree with it ..just earlier today I was talking to my mother about the cash plus situation…I personally dont have any money in there but I know she does so I try to keep her up to speed with whats going on with CP..however, my latest info drop resulted in her giving me one of her motherly pep talks :) lol …
    She started telling me about how many people CP has helped to be able to do things they wouldn’t have been able to do if they just had there money in the bank essentially losing value day by day….she told me that some people couldnt even afford the low JA$ min. to get in were pooling their money together and in one account and using the gains to assist them with there monthly expenses…In the end, she said she would rather lose to her money to CP who she knows is helping poor people, than to take it back to the bank who she know only helping themselves and the rest of the big fish dem…think about it….dem charge you to put money in, tek money out, talk to dem bout your money, and at the end of the day dont pay you enough interest to even keep up with the insane inflation, much less mek any real profit…hmmmm, so who are the real criminals here?…I wonder…..Dont get me wrong, I do have my reservations about CP and their business model..but at least…..at least they have a track record of the poor man directly beneifting from them..

    But in end everybody’s situation is different so you got to do what you feel is best for you, and whatever will keep you sleeping at night…some are fortunate enough to only have to worry about not investing what they cant afford to lose…But for some, its having to invest what for what they cant afford to not make…

    Well we’ll have to see what happens….Have a good night folks!

  189. deuce said,

    November 11, 2007 at 3:22 am

    does anyone knows F1 October gains

  190. Joe Joe said,

    November 11, 2007 at 3:37 am

    We are here to shear information….I have been asking for some info on MayDaisy for a while now and still no reply…..I would like to know what they are about and how I could get in….Thanks

  191. deuce said,

    November 11, 2007 at 4:06 am

    You need more than just a bank to execute your foreign exchange transactions; you need a strong financial advisor. Recognized as the Best Foreign Exchange Bank in Canada for the third consecutive year*, Scotia Capital is committed to delivering top-quality advice and out-of-the-box ideas in a constantly changing market. taken from http://www.scotiafx.com/

  192. Patricia said,

    November 11, 2007 at 4:38 am

    …#185, Deuce, given that……. “Scotia Capital provides trading system that assists Institutional, Corporate and Commercial clients of Scotiabank and Scotia Capital to obtain live foreign exchange quotes, execute trades and monitor on-line transaction history”, ……your point is what exactly??.

  193. the parkers said,

    November 11, 2007 at 11:43 am

    any info an zoom acountig

  194. JC said,

    November 11, 2007 at 12:29 pm

    AD, I met with David, and Its a personal issue but I lost my Blackberry with his Info that night, do you know anyone that can help me!!!

  195. Paige said,

    November 11, 2007 at 1:11 pm

    can anyone provide info or referral for may daisy? anyone have info on the B account for Olint?

  196. VMS said,

    November 11, 2007 at 5:26 pm

    Thanks to everyone who responded to Lewfam refferal that i have been requeesting for sometime now.. However, i tried filling out the form and when i try to submit my ID its not attaching to the page.. Can anyone assist me in filling out that pat of the form.. Thanks.

  197. DG said,

    November 11, 2007 at 6:25 pm

    #190 VMS : When I joined Lewfam, I scanned my ID and e-mailed it separately

  198. DG said,

    November 11, 2007 at 6:38 pm

    Today’s Gleaner (11/11/07) – Front page of THE ARTS section is the following Public Notice.

    Tax on Investments Tax Administration (working together
    to serve you better)

    Under Section 5(1) subsection (b) of the Income Tax Act, ANNUAL SUMS earned, including interest, are subject to income tax. The public is advised that income tax is due on any interest earned from monies placed in investment schemes of any kind.

    It should be noted that persons resident in Jamaica are liable to tax on profits or gains (including interest) accruing in or derived from the island or overseas, whether received in the island or not. Similarly persons not resident in Jamaica are liable to tax on income arising in Jamaica.

    Persons who earn interest from investments, whether the interest is paid or credited to them, are therefore reminded to file annual income tax returns on or before March 15, disclosing ALL income earned (including interest) and to pay the taxes due. Failure to comply will result in interest and penalties being applied.

    This is a statement of the law. It is NOT an endorsement by the Tax Administration or the Government of Jamaica of any investment scheme which is not licensed or registered by the Financial Services Commission.

    For further information call 1-888-Tax-Help (1-888-829-4357)

    ………………………………..soooooo, we fighting against alternate schemes, but as long as you getting some money, pay some taxes.

  199. JK said,

    November 11, 2007 at 6:51 pm

    well i will be well below the threshhold for paying taxes for now

  200. HD said,

    November 11, 2007 at 7:01 pm

    JK, what is the current threshold for paying taxes there in JA ?

  201. HD said,

    November 11, 2007 at 7:04 pm

    MD you are a funny dude, I think you want to hit up Paige on another forum :-)

  202. JK said,

    November 11, 2007 at 7:10 pm

    another question u guys comfy with the rumors and articles on C+ of late?

  203. Patricia said,

    November 11, 2007 at 7:31 pm

    Now seeeit deh!!! di tax man ah come , now you all understand why “Smarter” lick out in her post……

  204. Paige said,

    November 11, 2007 at 8:20 pm

    I read the blog found below on another website. Do any Olint members know anything about this?? The blog was written Nov 7, 2007.

    It has come to my attention that Olint will be likely accepting new members in December 07. I have heard Olint may be changing their policy from allowing reinvesting earnings to only paying it out.
    Regarding Cash Plus – Cash Plus is likely officially over by November 09, 2008- US Banks are putting the squeeze on BOJ due to the criminal past of it’s (cash Plus) founder in the U.S. I have been an Olint member for many years and had no regrets. I am anxiously viewing my account at the end of every month, never dissapointed. Unfortunately December has typically been a poor month for Olint paying around 4%. This is due to the many holidays and lack of good Forex trading days. Olint may be allowed to come back to Ja. and trade as well as manage a portion of the Ja. treasury as a true Jamaican patriot.
    Did you know that $10,000 will grow to $640,000 in only 3.5 years if left alone and returns continue ave 10%/mo. 7months later this $640,000 would double! Looks like a good risk for a supplement to your retirement.

  205. DR said,

    November 11, 2007 at 9:24 pm

    #192…Interesting, that ad from The Tax Administration is found on page “F1″ in todays Sunday Gleaner……what a coincidence? ha ha ha aha

    I am willing to pay tax….because even after paying tax on 20% or 25%, you can go home with 13% PER MONTH…..that is still more than we all were getting from the commercial banks for the WHOLE YEAR!…….

    Don’t change course people././… Let’s stick it out to the end….We will all be millionaires next year 2008……AMEN!

  206. DR said,

    November 11, 2007 at 9:26 pm

    Is anyone going to the meeting later at Arena at 6pm…..CP? Is the meeting still on? We can get to see “CarlosH” for the first time in living and live color….and meet the new Board of Directors.

  207. DR said,

    November 11, 2007 at 9:27 pm

    Indoor Sports Stadium I understand…..CP board of directors should be there….

    The way forward….

  208. Kevin2 said,

    November 11, 2007 at 9:49 pm

    Us overseas folks anxiously looking forward to hear the details of the 6pm C+ meeting.

  209. DH said,

    November 11, 2007 at 9:51 pm

    It should be noted that these investment scheme are going to make alot of people rich. The way the money grows is like winning the lotto and 90% of those who win the lotto looses it all within the first year of winning it. This is because of poor money manage skills. So if you plan on getting rich you need to learn how to keep it.

  210. DG said,

    November 11, 2007 at 9:55 pm

    Just eating some food now and then heading out to the indoor centre

  211. JK said,

    November 12, 2007 at 12:05 am

    fill us in ASAP

  212. Jcan said,

    November 12, 2007 at 2:06 am

    HI ALL,
    Heard the crowd was MASSIVE…

  213. DW said,

    November 12, 2007 at 2:07 am

    I am truly impressed by the way my JAMAICAN brothers and sisters have taken control of their financial destiny, and have taken the stance against Mr BIG bank,for years we have been drag down the path of the RICH will be RICHER and the POOR dies.Alternative Investing has given the POORMAN life again,thanks to OLINT,lEWFAM,CP,WW,HW,F1,MI,MAYD,and all the other clubs, both members and founders BIGUP.

  214. JK said,

    November 12, 2007 at 2:12 am

    wat was it all a bout?

  215. DG said,

    November 12, 2007 at 3:22 am

    After attending the meeting with Carlos Hill, I am convinced that Cash Plus is moving from strength to strength.

    He basically addressed all the rumours and cleared the air. He even outlined a number of businesses that have been acquired locally and internationally. I actually recorded his speech with my pocket pc and, as long as it was, it is REALLY worth listening to. It is a 100 MB file, but I will try and compress it and make it available

  216. DG said,

    November 12, 2007 at 3:28 am

    By the way, the place was packed. Cash Plus accounts will be made available on line in order to improve customer service. All clients will receive a Visa or Mastercard debit card. There is also a promise of greater communication with clients via e-mail

  217. JK said,

    November 12, 2007 at 3:34 am

    respect mi don

  218. DG said,

    November 12, 2007 at 4:11 am

    If anybody is interested in hearing what Carlos had to say at the meeting, just e-mail me at comsciteach@yahoo.com. The file is compressed to about 10 MB. The sound quality isn’t impressive, but if you listen keenly, you should be able to hear what is being said. I also have a couple of pictures and a video of Sir Carlos signing autographs on the packages he gave out.

  219. Concerned said,

    November 12, 2007 at 4:22 am

    Did any one at the C+ meeting catch the fact that Carlos Hill admitted that he is actually the person that committed the fraud refered to in the observers article. If you did’nt i can understand why because he skirted the issue then after admitting it he then hyped the crowd into applauding by refering to C+ as the poor man gate way to wealth … always a good way to get an applause… even from me who’s been a long time member. I just needed to know if this was real because i thought it was just the haters slandering the good mans name. But now that i know its not ….

    PEOPLE THIS IS SERIOUS…. the observer article was a brief summary… what he admitted to was only the first part of the court case… while he said he did plead guilty to that that case the official court reading’s say that he was already convicted for another fraud previously when he pleaded guilty to the one in question.

    The full details are located at http://www.romingerlegal.com/fifthcircuit/opinions/93-09056.CR0.wpd.html

  220. JK said,

    November 12, 2007 at 4:30 am

    i heard he was deported ……. someone mentioned it with my partents

  221. JK said,

    November 12, 2007 at 4:31 am

    i heard he was deported ……. someone mentioned it with my partents

  222. Concerned said,

    November 12, 2007 at 4:41 am

    Again Hill indicated that “on his return to jamaica”… but look at it this way if you shop lift and get charged INS (immigration and naturalization services) will ensure that you are deported. So imagine what they do to you when your involved in “racketeering activity” and “conspiracy to commit wire fraud”… items that he comfirmed tonight that he pleaded guilty to…and saying that you “agreed to work with the authorities” doesn’t change the facts of US law.

  223. DR said,

    November 12, 2007 at 11:54 am

    well well…Carlos is on a role….brighter future for Jamaicans….

    He was about to purchase Nationwide and Sunday Herald. I can’t beleive this!

    Nationwide knocks Sunday Herald for dishonest reporting of Cash Plus deal

    Monday, November 12, 2007 (Jamaica Observer)

    NATIONWIDE News Network (NNN) yesterday expressed shock at the Sunday Herald’s lead story which reported Cash Plus Group’s failed bid to acquire a majority stake in the radio station.

    At the same time, NNN’s chief executive officer and director, journalist Cliff Hughes, has resigned, “with immediate effect” from the newspaper’s board in apparent protest at what Nationwide described as the Sunday Herald’s “less than honest” reporting of the facts surrounding Cash Plus’s attempted investment.

    “We find the Sunday Herald report shocking and less than honest in that it made no reference to the fact that the Cash Plus interest in NNN also included The Sunday Herald newspaper,” NNN said in news release.

    According to the Sunday Herald story, Cash Plus and NNN had agreed to a $70-million cash injection in the radio station in return for a 70 per cent stake. However, the proposed deal collapsed after Cash Plus advertised NNN as a member of the Cash Plus Group of Companies, earning Hughes’ disapproval as the deal had not yet been finalised.

    Yesterday, Hughes and his lawyer, Walter Scott, would only say that the agreement between NNN and Cash Plus “has been terminated by mutual agreement” and that they could not comment further as they were bound by a confidentiality agreement.

    Hughes, however, when pressed, admitted that he was concerned that due to his association with the Sunday Herald, the newspaper’s story could have given the impression that he went public with details of the proposed deal out of malice.

    Last night, Sunday Herald editor, Desmond Richards, said his newspaper’s failure to report its involvement in the deal was not deliberate. “It was not a deliberate attempt on our part to cover up our involvement,” Richards told the Observer. “It was just an error. There was no intention to cause embarrassment.”

    He confirmed that Cash Plus had approached both Nationwide and the Sunday Herald with an offer to inject cash into both entities in return for a 70 per cent stake in either company. However, he said that Cash Plus had basically completed talks with NNN while the Sunday Herald was still awaiting word from Cash Plus. Asked whether he would pursue the negotiations with Cash Plus, Richards said no, as the offers were joined.

    Nationwide, in its release, said the discussions with Cash Plus have been amicable and were conducted in a professional manner. “We, at NNN, wish to conclude these discussions with the utmost professionalism and in conformity with ethical business practices,” Nationwide said

  224. Patricia said,

    November 12, 2007 at 1:59 pm

    Hey Guys, I know that the link posted by Concerned at 213 is long, but you should read it…….there is a very disturbing pattern of behaviour shown as it relates to a series of offences for which Hill has been before the courts, apparently going back as far as 1977, involving fruad, fee scams, racketeering, wire fraud……..that is ALARMING……onto the point of him conspiring to “rent” out securities to firms that needed to boost their balance sheet…..that is serious, well certainly for me, as he is talking about disclosing financial records, balance sheet, and that 60% of C+’s assets are foreign-based…well how do we know know whether theses foreign assets are for real, in light of his previous pattern of behaviour……….Continue to be vigilant, adopt prudent risk management measures, so that your gains are not lost…PLEASE

  225. DR said,

    November 12, 2007 at 3:18 pm

    Patricia, the bottom line is that we need to be careful. Question though: Is he really the “same” Carlos Hill?

  226. Patricia said,

    November 12, 2007 at 4:37 pm

    DR, I can tell you that, based on personal professional experience, a person’s past behaviour, especially consistently re-occuring behaviour is usually a very good indicator of what the person is capable of and likely to do in the present and future.

  227. annonymous said,

    November 12, 2007 at 4:42 pm

    I think though that Carlos has way too much to lose this time….

  228. Concerned said,

    November 12, 2007 at 4:46 pm

    DR im in agreement with you people need to be careful, im definately not comfortable anymore with C+ after last night. It is the same Carlos Hill, he admitted it at last nights meeting saying “yes i did plead guilty to one charge”. But when you read the whole case and not just what the observer print you realise that he was on another fraud charge before that in Dallas. He said that all business people have failures but being charge for fraud more than once is a little hard to accept as just coincidence. Hill said that he was charged after he was unable to pay persons after other people stopped paying him (sound sorta simular to anything we could see happening?). Now it looks like its just a matter of time.Speculation is one thing but admission of previous wrong doing is another thing completely…

    Im surprised that more people arent “concerned” after last night, but then again how many people have read the details of the court writings?… its long but interesting reading.

  229. Patricia said,

    November 12, 2007 at 4:56 pm

    These activities based on the court records span almost 20 years…that’s a long time

  230. HD said,

    November 12, 2007 at 5:18 pm

    I think one good indicator may be how well Cash Plus deliver on these debit cards. My thinking is that VISA/Mastercard would only do business with them if their own internal checks show that that Cash Plus is all good….just a thought

  231. Kevin2 said,

    November 12, 2007 at 5:34 pm

    I have said all along that of all the clubs out there C+ is the one most concerning. The others state that they do fx trading (even that is left to be proven for all) but C+ never stated what they do. Based on this new information it is clear to me that fx trading is far from what they do. I agree with “Concerned” that it seems like simply a matter of time. His past dealings are not very encouraging. People don’t change like that. There are a lot of similarities with C+ to the past.
    In addition, C+ states that 60% of their assets are overseas. We know what the other 40% are invested in locally and there is no way that this 40% in JA can generate 18% per month. So therefore the 60% will have to generate something 35% per month to pay for 18% on the 100% (all funds). This is now beyond all reasoning as much as we would like to give them the benefit of the doubt. If this is indeed possible then ……..it is scary to say the least. The question is should we still now go in and get out with a large profit in the next 12 months?
    Don’t get me wrong. I am a champion for the small man and the opportunity for them to earn these high returns but just keeping it real folks. We have to stand back for a second and re-assess the situation.

  232. TheOne said,

    November 12, 2007 at 6:13 pm

    People can change. Give the man a chance to redeem himself.

    I’ve done many foolish stuff in my earlier years; Bruce Golding has done the same too. A good thing is that they are honest enough to admit it. And now we know who we are dealing with, we can weigh the possibilities and make our decisions.

    In the end, you can’t say you didn’t know.

  233. TheOne said,

    November 12, 2007 at 6:17 pm

    What’s up with the time on these post. They are always five hours ahead….?

  234. JK said,

    November 12, 2007 at 6:36 pm

    honestly would u give his man a job with a track record like that……its worrying to say the least

    cyan teach old dog new tricks……

  235. Poor Risk Teka said,

    November 12, 2007 at 7:17 pm

    well we keep giving the politicians their jobs back and look at how they’re gouging our eyes out :) … so i guess from one teif to another… they all aint any better…. they are just a legal means of teifin from u…

  236. AD' said,

    November 12, 2007 at 7:30 pm

    # 226 I agree totally….Its basically the same thing we where talking about last night…Baiscally the guy did wrong in the past…Wow…thats the past…He’s doing good now…Especially for the ppl of jamaica which need that totally….So i say….ummm the government….Leave the man alone…Allow him to help us as Jamaican live a better life…And call it a day…

  237. AD' said,

    November 12, 2007 at 7:41 pm

    I agree with you All on the issues facing Mr. Hill but as # 227 said I think everyone deserves a chance.

    The best way to evaluate this is to look at your pass history, what have you done wrong and what would you done to correct the problem. I am sure we have all been guilty of doing something it might not be anything as drastic as Mr. Hill due to his position in that sector, but left in that position with all the opportunities
    I bet it would be something to consider.

    Each individual pass is based on the opportunity they had in life. If you are a Doctor you will have the opportunities in the Medical Practice and Hospital areas, you will probably conspire with a drug representative to write more of that drugs for trips, coupons etc. If in finance you have the banks mortgage house to float you finances and hide the real facts etc so there is more to gain at these level. If you are a Trades Man you might have conspired to hike the price of the goods and buy some extra tools along the way in a background deal. I’m not condoning any bad behavior but my point is if you are in a position you will seek what’s in that area for you and he took an opportunity and now what 20 years later he has started a very lucrative investment house in which allot of bright minds are a part of, Just my 2 cents.

    I love you guys all here in this forum. Patricia you are so well informed and well read so Is DR.

  238. JK said,

    November 12, 2007 at 7:43 pm

    i know he has dun good for the country and all but can the publishings of the audits be trusted if he does publish them based on his track record???

  239. Kevin2 said,

    November 12, 2007 at 7:58 pm

    AD,
    One comment though. His current dealings seem quite similar to the past. It is not that he has gone into something totally different now vs then.

  240. DR said,

    November 12, 2007 at 8:18 pm

    Thanks AD for the kind compliment…

    Only time will tell if Carlos has change. I hope he has………. let’s pray for him…..if he does anything foolish this time, he would not have anywhere to go…especially in the light that he has been deported. So it was said.

    Thanks again CP,Olint,HW,Prtns,Z,WW,VW,WV,Nipo, BOL and the many others which I don’t have time to mention now..like F1,A3,Minv, LewFam, WealthB, do you stil want more?

    (Sorry, not allowed to mention the rest as they are EXCLUSIVE!)

    We just need to work out our tax issues now…..

  241. BJ said,

    November 12, 2007 at 8:23 pm

    Question for all:
    If you knew everything you know now about C.H will you still invest with C.P.

  242. Patricia said,

    November 12, 2007 at 8:29 pm

    Listen, I am reeaally hoping and praying that its all good in the end.
    Nuff people have realised some decent $$$$, after suffering too long!!! The tiefin’ good for nutt’n politician dem an’ dem fren, an’ di banks have for too long bled us dry with nutt’n to show for it. It has been pure hol’ dung an’ tek weh………So if Carlos, is di new Jamaican Gangsta, an he delivers, den RUN WID IT!!!, …BUT, understand the rules of the race!!!, ’cause, if you don’t reach, an’/ or yuh get bun, den ONLY YOU, gwine haffi correck it

  243. Concerned said,

    November 12, 2007 at 8:44 pm

    AD you seem to have a large and forgiving heart and you should be commended for that because good people do make mistakes and people do deserve a second chance, it truely is only fair. But i think we are dealing with more than a little one time mistake, it seems to be a recurring incident. The returns are good and all but tell me that after going through the details that you dont really start to wonder whats really going on. With that said however i’ll just note in the summary the conviction details:

    1977- Hill pleaded guilty to making a false statement in a January 1977
    application for registration submitted to the Commodities Futures
    Trading Commission,

    1988-Hill offered to arrange funding for loans in exchange for payment
    of advance fees of $25,000 to $35,000. Hill agreed to plead
    guilty to that offense in August 1988,

    1993 Hill was sentenced for the Dallas conspiracy on November 5,
    1993.his involvement in that conspiracy did not end with his arrest and incarceration, because there is no evidence that he withdrew from the conspiracy after then. In December 1993, the district court sentenced Hill to 57months imprisonment,

  244. mathetes said,

    November 12, 2007 at 8:49 pm

    Greetings Friends

    A very funny post Patricia, one that I believe is the sentiment of us all (or most of us) despite our inability to express it in the colourful way that blogger did :) .

    On to other things … if the FSC, after litigation, determines that it does not have jurisdiction over the Olint’s operations then I am sure the Tax Administration of Jamaica will put in all the measures to enforce section five of the tax law, i.e. –
    “income tax is due on any interest earned from monies placed in investment schemes of any kind…Persons who earn interest from investments, whether the interest is paid or credited to them, are therefore reminded to file annual income tax returns on or before March 15th, disclosing ALL income earned (including interest) and to pay the taxes due. Failure to comply will result in interest and penalties being applied.”

    Regarding CARLOS HILL – Most people are guilty of duplicity at some level…I believe in second, third, etc chances and one of my core values is to extend the hand of reconciliation. But charakta nuh buy a shap! Our character is what we CONSISTENTLY are. It is the product of habit forming behaviour and decisions. When an individual has a history of being duplicitous or dishonest, especially in a specific area of his/her life one has to be extremely cautious in dealing with him/her. Lying is lying, however the impact of little white lies should not excuse lies with the greater consequences. A leader/manager must exercise scruples in all the things s/he manages, especially when I relates to others.

    Despite human inclination or weaknesses, Hill’s behaviour, if he is truly at fault, is untenable and blatantly irresponsible. To excuse immoral actions on the premise of opportunity (or lack there of), environmental factors, and/or area of specialization is highly deterministic and flawed.

    As I indicated in early posts: Accountability and transparency facilitated by the administrative machinery and structure of a club/organization (such as Cashplus), coupled with the implementation/exercise of enforcing punitive measures will minimize the likelihood clients/investors (such as us) from being screwed (for need of a better word) by individuals that are suspect.

    Be safe

    Andre

  245. HD said,

    November 12, 2007 at 9:23 pm

    lots of questions and speculation but what is the real problem ???

    Are we afraid that
    a) the business will just crash becuase it just does not work ? or,
    b) Carlos will take our money and run ? or,
    c) the government will shut them down sooner rather than later ?

    Maybe I am being naive but I do not see how what we just found about his character changes any of the above ?

    I am not a CP member but the programs that I am in I approach them with the thinking that anything can change at anytime since they are not regulated. So I am either taking profits regularly until I get back my intial investment and then some more, or I am biting my lips for 6 months for it to compound before I take back my initial investments.

    Again maybe I am being naive but I dont think that this information about his character has changed the risk involved. These programs are all risky for one reason or another and as far as CP is considered his (Carlos H) character is just another reason why it is risky. Frankly I would be more concerned about how he would be able to pay out several billion dollars in payments in the next 5 when those 5 year plans mature than I would be about his character. Then again I would not be locking in any money for 5 years.

    Just a thought.

  246. Michael said,

    November 12, 2007 at 9:25 pm

    Audley Shaw and crabs in a barrel

    ——————————————————————————–

    By Professor David P. Rowe

    Media reports suggest that Cash Plus is a major player in the Jamaican economy. Cash Plus, based on media reports has opened negotiations to purchase the Hilton hotel, one of the largest Kingston hotels, in Jamaica, Drax Hall Estate and other huge assets including Mainland International.

    Cash Plus is also involved in real estate development in the country. Cash Plus is tantamount to the concept of corporate success in modern Jamaica. Of course, as all capitalists know, Cash Plus has had to take great risks in building its empire.

    Any businessman who invests in Jamaica takes great risks. Financing in Jamaica is rarely available to young under-capitalised businessmen (ask the successful Wayne Chen). Cash Plus has had to finance itself and has done so while under constant and fierce attack from the Jamaican financial establishment.

    Jamaica operates two economies. The first economy is an official Jamaican dollar-based economy which is heavily regulated and taxed. As a result, nobody wants any Jamaican dollars. If you tender US dollars cash for payment at most hotels, the shrewd Jamaican hotelier always gives you your change in Jamaican dollars. American dollars are too valuable to be given as change.

    The other Jamaican economy is the US dollar economy in which all Jamaicans thirstily participate. This part of the economy is totally unregulated, but forms a basis for significant day-to-day Jamaican transactions. Law firms, beauticians and car dealers all take US dollars in preference to the local currency, and the Bank of Jamaica and the threatening Financial Services Commission (FSC), have no capacity or power to regulate US dollar transactions.

    The Honourable Audley Shaw served Jamaica in New York with very great distinction in the 1980s while he was a senior executive in the Jamaica National Investment Promotion (JAMPRO). During his experience there, he would have learnt to appreciate the value of financing to investment and the implementation of capital projects in Jamaica. It would be a surprise if a minister of Shaw’s sagacity and expertise did not have a deep appreciation for Cash Plus’ investments in Jamaica. It should be clear to Shaw that Cash Plus, is valuable and central to Jamaica’s development.

    I understand that Bear Stearns and Cash Plus are about to do a US$1 billion hotel development at Drax Hall. It is a pity that some elements of the Jamaican financial community are behaving like crabs in a barrel in order to sabotage Cash Plus’ obvious success.

    Minister Shaw should intervene to encourage all Jamaican financial institutions to work together for national development and progress. Obviously enterprising American financial establishments will benefit from Cash Plus’ endeavors, while the Jamaican financial institutions, like crabs in a barrel, spread rumours rather than take productive risks.

    David P. Rowe is a professor of law at the University of Miami School of Law.

    GO BACK

    ——————————————————————————–

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    ——————————————————————————–

    Copyright © 2005 Sunday Herald. All rights reserved

  247. Michael said,

    November 12, 2007 at 9:27 pm

    Hi guys here’s the link
    http://www.sunheraldjamaica.com/editorial5.htm

  248. Kevin2 said,

    November 12, 2007 at 9:46 pm

    HD,

    I think that your first item a) is what I am now afraid about. It simply is not sustainable and won’t work. Not to beat a dead horse but why is he purchasing assets left, right and center? How on earth can these assets give you 18% per month? I think these assets are used in some way to derive the 18% per month but I am still doing my research. I am afraid item b) or something like item b) may come in later. We’ll see. But for now ….people continue to make and take your profits and rejoice.

  249. Kevin2 said,

    November 12, 2007 at 9:47 pm

    I meant item c) in place of b)

  250. DR said,

    November 12, 2007 at 9:48 pm

    Partners and Lenders,

    You are all forgeting something: BRUCE IS NOT A FOOL!,(Omar Davies said so): He stated himself as “The chief Servant”.

    If we bind hands and hearts together and threathen to withdraw all our money from the regular commercial banks and/or to vote out the govt if they touch any of the 15 or more investment schemes in this island…..Trust me, they would leave it alone. Read my lips….one political party learned that lesson already.

    The Chief Servant is wise and does have a good relationship with CP and Olint.

    The hope is that Olint will win the case (once and for all), and then free up the system for the rest of clubs.

    See “our money” is ponsoring JAzz and blues, and the Premeir League Footbal, it almost bought Jamaica Herald and NAtionwide News…. it’s “our” money that bought Hilton….. we continue to “partner” and “lend”….because we are seeing our money here in Jamaica.

    Hint* When we “deposit”, the money goes to Canada….hahahahahahhh
    when we “partner or lend”….some of it is spent here in Jamaica for
    Jamaicans.

    Remember FirstGlobal is the only Jamaican bank…all others have “Canadian” links. NEVER FORGET THAT!

  251. Michael said,

    November 12, 2007 at 10:33 pm

    Past behavior is the best indicator of future behavior.The revelation of Mr. Hills past should be of concern to all of CP investors. The sad thing is he’s head of the organisation and at this time has no board of directors to report to and is not regulated by any financial entity. Immoral and illegal activities have been known to bring down huge companies Worldcom and Enron to name a few. While not condoning illegal practices ,I must say so much happens behind the seen in various industries which is known only to those in those professions. Stock Brokers,Mortgage brokers, accountants, Politicans,Lawyers ect.
    I think we need to focus on accounts receivables ,not on the ballance sheet as such .Evaluations on prorerty and business are subjective and therefore may be difficult to accurately value (especially locally). With reguards to the overseas assets , Caslos Hill has the last say, may it be honest.

  252. DW said,

    November 12, 2007 at 11:53 pm

    I have always had my reservations on CP , this is my personal opinion that CP’s club structure does not facilitate long term success by turning liquid cash into assets, over time these assets will not be able to generate the high yield interest that CP guarantees, all the liquid cash will be depleted. So far, Carlos Hill has been delivering the goods intern helping many jamaicans. I can only hope that Mr.Hill will weather storm and take CP to a level beyond an alternative investment entinty,and become a coorporation that will be a force both locally and internationally . Here is a word to the wise HONESTY AND INTERGRITY is always the best POLICY.

  253. DG said,

    November 13, 2007 at 12:29 am

    I went to RBTT today and asked whether or not they would stop accepting Cash Plus cheques in December (as indicated earlier in this blog). I spoke to a Supervisor who said she received no such directive. She went further to state that requests for manager’s cheques to Cash Plus would also be honoured without hassle.

    However, I was rather dismayed about the following. I lodged some US Dollars (cash) in my US account at RBTTon Friday. Today, I requested a US draft and was told that unless I let the money remain in the account for six working days, I would be charge 2.91% of the US value of the draft I requested. This sounds like if I do not allow the bank to rinse my cash before making a withdrawal, I would have to compensate them for the money that they would otherwise have made.

    Does anyone know of this policy at any other bank?

  254. DR said,

    November 13, 2007 at 12:35 am

    Caution: When moving moeny from your Alternative Investment Scheme into the formal “fsc” system, do not try to deposit cheques over US$9000 at any one time….plus spread your accounts over several banks.

    It is rumored that the Ministry of Finance gets a list of all deposits over US$10000, so be careful. It is said that they get a listing of all account over Us1mill.

  255. Concerned said,

    November 13, 2007 at 1:45 am

    DR you are right about a list, fact is the BOJ gets a listing of all transactions over usd 1000 or its equivalent in any foreign currency… and as for splitting it up… that ok but dont just break up the transactions and do it at th same institution because that will get reported as well depending on who’s dealing with you… if they “think” you’re suspicious.

    Ps. A transaction listing is sent to BOJ and they compare names, address, phone number and transaction amounts to find relations and trends, so they already have listings of questionable people… not necessarily money launderers on a large scale but just people that appear to want to “fly below the radar”.

    Go the banks or building society with a $1,000 or more dollars and notice that they charge you a “handling charge”… what it is really is the cost of the time to go do up reports…

    They charge for every thing then they pay 4% per …. YEAR!!! less 25% for the government.

  256. Poor Risk Teka said,

    November 13, 2007 at 2:42 am

    248 and 249 you should know that you are also aiding and abetting the TRUE money launderers that these policies were meant for…

    I know we all want to skip these tax business if possible, myself too… but these policies are still plc for a purpose

  257. Anthony said,

    November 13, 2007 at 3:22 am

    So u guys r saying that we should start approaching this money transaction as if we are doing something illegal. I really am not prepared to hide the fact that I am making money because lets face it one day if this all works out it will be quite obvious that money a mek.
    Today a teller was questioning the fact that my book did not seem like saving book but more like a business book re certain transactions. I blatantly told her I am in the business of investing and if things work out re the ambition I have then every time I transact business the alarms r going to go off, so do what u think u should do because I got my records and stuff to show that my money is ligit.
    This just goes to show u that we r expected to remain poor, well if I surpass their expectations I will not do it hiding.
    The tax man is knocking and the way I see it the more we hide the more in arrears we will be. I think I am just going to face the music and then get on back to making some honest doe.

  258. JK said,

    November 13, 2007 at 3:27 am

    well if n e thng u jus file ur taxes

  259. deuce said,

    November 13, 2007 at 3:36 am

    any accountant to advice on filing of income tax?

  260. JK said,

    November 13, 2007 at 3:36 am

    still would be meking more than that of a bank

  261. DW said,

    November 13, 2007 at 3:39 am

    As law abiding JAMAICANS it is our DUTY to pay our TAXES irregardless of how unfair we think the TAX LAWS are..

  262. Poor Risk Teka said,

    November 13, 2007 at 3:44 am

    #251
    Anthony,

    You are so right Anthony .. even if you spread your cash all across the various banks… you still cant hide, all their reports end up at one place… so they will still pick it up and it can be deemed as “suspicious” behaviour… the regulations are put in plc to keep the banks rep in check vboth locally and internationally.. monies come from all over bith legit and illegit…

    since ours investments are honest, then we have no reason to hide and even if we do have to pay a bit of taxes to our already teifin government… we still would have made some good money off these investments.. WAY more than these banks will ever be able to offer…

    it pisses me off too, but when u think of it why bother to try and hide when it may very well catch up with you eventually and you cld then lose all you risked your ass off to work to make

  263. Poor Risk Teka said,

    November 13, 2007 at 3:51 am

    All in all DW summed it up up well in post#255. Just pay the taxes ppl… Let us not allow our new found fountain of wealth be seized… If you are found to be evading, they normally calculate all those sums, plus fees and penalties for the evasion.. ot to mention other worries u cld get into

  264. DG said,

    November 13, 2007 at 4:10 am

    Would I be correct in saying that beer was made legal in order to collect taxes. Cigarettes are fine as long as the govt. collects taxes from it – even though the cigarette box has a suicide warning on the cover. Does this now mean that the powers are acknowledging this income as something to encourage in order to collect taxes? Perhaps the govt. may want to preserve these schemes if they find it to be a nice source of tax revenue.

  265. Concerned said,

    November 13, 2007 at 4:13 am

    Poor Risk Teka

    The details i posted earlier weren’t meant to aid and abet any “TRUE money launderers” that info is public just go to a cambio with 1000 of you ligit dollars and when they ask the souce of funds just ask the supervisor why… and then ask how will they know if i break it up. They tell you this information as part of customer service. They dont want you to think that it is them thats hassling you so they give you all the detail as to why they are regulated to do it and why if you go else where you’ll still be found out via the list. They want to keep the system clean and so everyone gets the third degree. Sometimes to find out what you want you just need to ask the right question.

    Just to point out also that they point of paying taxes is commendable and is a good start but according to the proceeds of crime act, if these Alternative Schemes are found to be in contravention of the law(which the FSC is carrying cash plus to court for) the consideration that the pay are also in contravention of the law, and the entire interest (consideration)100% is forfitable not just 25% income tax. The article in sunday’s paper didn’t go into details… you notice how they always seem to leave out the really good stuff.

  266. Anthony said,

    November 13, 2007 at 4:26 am

    Hey Concerned could u explain in more detail the last part of your post. As this tax thing is really the highlight at this time.

  267. DW said,

    November 13, 2007 at 4:27 am

    Whenever I compare the TAXES we pay in jamaica, to TAXES in the U.S we somehow come out ahead, as in the U.S taxes are paid during your working years, at RETIREMENT age 65 becoming eligible for Social Security this checque is taxed again,therefore taxes are paid on top of taxes.

  268. Poor Risk Teka said,

    November 13, 2007 at 4:29 am

    bwoy DG, I doubt they are really encouraging it… but at the end of the day income earned once not classified as illegal shall be taxed… so as much they have no regulations to govern these types of investments.. we are still earming income form them….

    i take it as no comfort at all…

  269. Anthony said,

    November 13, 2007 at 4:31 am

    Is the FSC taking cash plus to court? I never heard that.

  270. Poor Risk Teka said,

    November 13, 2007 at 4:35 am

    Yeah Concerned thx for bringing that part up, many ppl dont know that, the proceeds od crime stuff… so guys thats another thing to think about…

  271. HD said,

    November 13, 2007 at 4:42 am

    Death and taxes !

    The authorities can force any of these investment programs to turn over all their records. If they do that then they will know every single person who have invested and the payouts made to them.

    Pay the taxes…use your vote on election day to protest the taxes.

    There is also a lot to be said about proper tax planning and using some of the profits to pay a good accountant. Thats one of the differences between the rich and the poor, the rich do not hesitate to spend money to pay good professionals including accountants and lawyers.

    Look into your options to reduce your taxes before the end of the year.

  272. DW said,

    November 13, 2007 at 4:51 am

    All views shared this evening were informative and enlightening,Thanks to all BLOGGERS and RISK TAKERS let keep info flowing.zzz PEACE.

  273. Yardman said,

    November 13, 2007 at 5:05 am

    The Australian Government’s net debt was eliminated in 2005-06.

    VERY INFORMATIVE, PLEASE READ AND CLICK ON THE FOLLOWING LINK

    You are probably aware that the Australian Government’s net debt was eliminated in 2005-06. An additional means of debt management was employed. This additional means involved the use of cross-currency swaps, to achieve exposure to United States interest rates.

    http://www.treasury.gov.au/documents/1230/RTF/DMO_speech.rtf

  274. Concerned said,

    November 13, 2007 at 5:21 am

    the proceeds of crime act section 2 speaks to the forfeiture orders and pecuniary penalties orders.

    It says that the court may

    a) Make an order that the property are forfeited to the crown

    b) order the defendant to pay the crown an amount equal to the value of his benifits assesssed in accordance wiht the provisions of the section

    The FSC is carrying Cash plus to court to try and have their operation declared illegal, if it is so found then members considerations are deemed non criminal lifestyle proceeds of crime and are forfeitable. Basically the ad in the paper is from one Govt organisation that until now ws silent. This is how it is if your assessed by the tax department you’ll pay a penalty of 40% per annum of the 25 percent that you should have paid. If the FSC get them declared illegal you could be liable for 100% of the Tainted benifit that you received. There are two possiblities depending on which GOVT orgainzation get throught first.

    1) FSC with the help of the FID ( they will take a while as cash plus has good lawyers who know how to hold up the courts) if the win your benifits are illegal your liable for all you’ve earned

    2) TAAD (they work fast remember moses … no not the one that parted the sea… moses davis aka beenie man) if they get through first and you get assessed and have to pay tax.

    technically if after you’ve paid tax on your earnings and its found that you benifited from the proceeds of crime as the act defines you still loose every thing. Your thinking double jeopardy??….good but no… two different charges two different departments completely different arguemtnts

  275. DR said,

    November 13, 2007 at 10:11 am

    There is no getting away from the tax thing people…..Remember when you walk into the various schemes, one of the first thing they ask you for is your TRN.
    That’s all the information the government needs… They can come in with thier software/hardware and doa listing of all the names and amounts. FULLSTOP!

    Pay your taxes. You’ll save yourself the penalties….We have until March 15, 2008 to declare.

    The problem is, even WHEN Olint win the case, their customers will still HAVE TO PAY TAX. Its the law.

  276. DR said,

    November 13, 2007 at 10:26 am

    1977 – 1988 – out of prison 1998.

    Is there a trend? Does something spectacular happen whenever the year ends with a “7″ or “8″.?

    Let’s pray for CarlosH, the truth is God has used him to bless many, many Jamaicans. We come against any negative words in Jesus Name. We come against any curse that was placed on his life in the Name of Jesus, our money is protected/insured with the precious blood of the Lamb.

    Please note: * If the Holy Spirit is telling you to “come out from amoung them”, you need to do so. Obedience is key.

    I personally like the fact that Carlos has done good for Jamaica. We wish his company all the best.

  277. mathetes said,

    November 13, 2007 at 12:45 pm

    Greetings Friends

    Thanks a lot to all who have posted very informative comments in the last few days. Concerened thanks for the insite into the tax issues.

    A major part of good money and risk managment is to give unto Caesar and budget what is Caesar’s. It makes no sense to make money and not keep it.

    TAXES…
    As it erelates to filing taxes, the investor/taxpayer/govt’s cash cow is required to complete the P24 and the ITO5 forms providing information on income earned through employment and/or INTEREST. you should be able to access the forms from your employer or the organization that pays to income/interest.

    By March 15 all taxes must be paid for the previous year and a income projection of the present year must be provided. The 25% of your interest/income can be paid quarterly or by the end of the above date. There is a $193,440 tax free amount for those who are not employed.

    Over-Taxed
    Andre

  278. DR said,

    November 13, 2007 at 12:52 pm

    One last thing for now Partners and Lenders:

    The Chief Servant and the FSC will be happy to note that we WILL be contributing our taxes in order to get this lovely country of the debt.

    Watch this: $100,000 at 10% per annum in a commercial (Canadian) bank, at the end of the year we’d only have $110,000. Taxes at 25% of the interest earned = $2,500.

    compare that to this:

    $100,000 at 10% per month, in a scheme (Jamaican), at the end of the year we’d have $220,000. Taxes at 25% of the interest earned = $30,000

    Summary:

    They could now put the $2500 towards roads, hospitals etc….and put the difference of $27,500 towards the debt!…. or better still they could “lend” or “partner” the difference……hah .hahah hahahah and use the BILLIONS to clear the national debt in one year.

    what do you all say?

  279. AD' said,

    November 13, 2007 at 1:42 pm

    # 272 I say DR. You have figured it out quite correctly.

    Question to any bloggers with experience in this area, I live in the US and earn interest from my investment in Jamaica how would that be classified and treated, would I be taxed in Jamaica? Or this is something I would have to discuss with my accountant in US. I have never submitted a TRN because i don’t have one but my US drivers license was sent in when i first started investing.

    Regards

    AD’

  280. MADMAG said,

    November 13, 2007 at 2:26 pm

    All,
    I am already paying so much to this government only for them to be ‘demanding’ that i pay more. I need to get a good tax accountant.

  281. Mr. C said,

    November 13, 2007 at 2:29 pm

    As was stated earlier, give unto Cesar the things that are Cesar’s…….
    Who wins: Assuming all goes well
    1) Government: They collect their taxes
    2) Banks: Interest Income are sent to banks
    3) Investors: They have a bit more income at their disposal
    Who lose: Assuming all goes bad (Who is at risk)
    1) the Investor (Gov’t says we are on our own)
    2) the investor (Banks says you were all warned….i told you so)
    3) the investor (the cheese stands alone…..)

    Moral of this…. investors alone holds the risk but everyone part take of the rewards. Therefore, as mentioned numerous times, dont risk more than you are able to lose. This is nothing new

    Let us all not try to escape the tax man. i think the issue of accountability is highlighted more today than even 5 years ago. so if one politican went to jail cause of criminal activity 18 years ago and then change of government cause 2 more to go this time; revenge or not, tears or not, i think those in power would be careful not to try that crap as they might be on the outside looking in one day and 3 or more persons might be sent this time etc.
    So i agree with all who suggested that we pay our taxes and pray for those in authority that that do the right thing with them. But let us do the right thing otherwise we would be no better than them if we think they are not.
    ps keep up the good work guys i really enjoy this blog

  282. Kevin2 said,

    November 13, 2007 at 2:55 pm

    As for OLINT, remember that OLINT is not domiciled in Jamaica and hence is not under the jurisdiction of the JA Govt. In Turks, there is no tax so for the direct members of OLINT, I don’t see them paying tax. OLINT can’t be forced by the JA Govt. to disclose the names of its direct members because the JA Govt. has no authority on that.
    But for the non-direct members who invest in instsitutions registered in JA like Lewfam etc. unfortunately you will get ketch as the JA Govt. can force such institiutions to hand over whatever info they require.

  283. mathetes said,

    November 13, 2007 at 2:59 pm

    Kevin2

    I called the Tax Administration and they told me that once you are a resident of Jamaica you will have to pay the tax, it doesnt matter if the entity is based/registered/licenced in another country. If you are a Jamaican who resides mostly in another country you will have to provide sufficient information to be exempt from the taxes.

    Andre

  284. HD said,

    November 13, 2007 at 3:10 pm

    Kevin2, I stand corrected on the issue of the offshore programs in TCI and other tax free havens. Yes they cannot be forced by the government to provide any tax information for purposes of taxing or auditing residents. That said I dont think it changes the fact that you are required to pay so if the tax people find out by other means about your income from OLINT or F1 or other they can still throw the axe at you. So they can check the deposits to your bank accounts and wire information etc and if they can connect the dots then one would still be liable for tax payment.

  285. Confused said,

    November 13, 2007 at 3:27 pm

    Can someone explain something to me.
    The local banks were busy complaining about C+ and the various schemes but yet they were still getting the deposits back. Now they have messed up the C+ members with their withholding of C+ cheques and now C+ is moving their accounts to international banks. So does that mean that the local banks will now lose out because the funds won’t be going there anymore?
    Also it seems that the tax situation may further force people to move funds out of the local banks. is it me or does anyone one else see the issue that the local banks may be facing down the road?

  286. Patricia said,

    November 13, 2007 at 3:58 pm

    On the issue of taxes….I definitely recommend that folks get their paper work together, ie withdrawal slips, copies of bank drafts, club application foms/contracts, records of deposit etc. The Paper work is the first important thing. Second, The J’can tax authority has jusrisdiction over J’can residents and their world wide income. So if you are resident in JA for tax purposes, you are required by the Income Tax Act, to disclose your worldiwde income.

    Maybe Andre can confirm for us, but as far as I am aware, the tax is a flat 25%, whether investment income or interest income.

    Now, having said that, there is ABSOLUTELY NOTHING ILLEGAL about Tax Planning to reduce one’s liability for taxes. So I urge everyone to retain the services of an experienced tax accountant and or tax lawyer, yes it costs $$, but you’ll be better off in the long run.

    For Canadian residents, you are taxed on your worldwide income as well, there are tax treaties between JA & CDA, (So too JA & USA), so if you have accounts at say, BNS or anyother Canadian bank, your information is at risk of discloure to Revenue Canada. That’s just how it is. There is a duty to disclose your wordwide income from any source.

    Now, the Olint issue not so straight forward…there is a duty on you the tax payer,to disclose, but as it stands, OLINT is registered in TCI, a tax free haven, & there are no tax treaties with any countries, so OLINT TCI, the corporation, has no duty to disclose anything to any revenue collecting ageny, save and except there is “dirty money” from a member involved.

    Where the problem arises is the flow of funds from OLINT to J’can/C’dian/US bank accounts, and those deposits being reported to the relevant authorities by the banks. Resident J’cans and everyone who has such a J’can bank account receiving those funds then come under scrutiny. Certainly, if those funds remain in the banks, interest earned will be liable to the 25% withholding tax. The only way to avoid/reduce NOT EVADE, taxation is to in engage in efficient tax planning, which can include sheltering in a tax haven.

  287. mathetes said,

    November 13, 2007 at 4:57 pm

    Yes Patricia it’s 25%

    Andre

  288. Concerned said,

    November 13, 2007 at 5:18 pm

    All business operating in jamaica are required to be registered, whether or not the main head office is in a Tax free jurisdiction. Registering in a tax free jurisdiction (cayman and Turks and cacios) reduces the dividend income tax, not the tax on operations in jamaica.

    nb. NCB is registered locally but the parent company AIC barbados is in a easier tax jurisdiction and its parent company is canadian. when profits are made and paid out to the owners (non jamaican) dividends will be taxed in the parent country.

    When these companies take cheques locally they can be audited by the local authority, and thus depending on how they structure their local operations all detail regarding revenues ( cheques accepted) whether or not the funds stay here will have to be declared. A declaration of the revenue items will disclose the member name from a local stand point. The assessment can be done based on an expectation

    eg. client name and date of deposit x average returns (easy enough to aquire). The onus in the tax act is on you to prove your innocence, if you can prove that you dont owe the extent of the assessment then you pay what you owe, if you can you pay what is assessed.

    people keep all your records because when your assessed you are require to pay 50% of the assessment up front even if you are contesting the amount. and they dont generally pay you back if its less it takes so long that it is easier to set if off against futue earnings.

  289. MADMAG said,

    November 13, 2007 at 5:19 pm

    My Question, what about those of us who has been involved in these investments for over 3 years and have not paid over any tax. Will we be penalized and charges for interest income earned for those prior years?

    Can someone respond?

  290. Patricia said,

    November 13, 2007 at 5:45 pm

    MADMAG, if you are assessed for that period, oh yes !!! you certainly will…and the penalty is 40% pa, and then interest is calculated on that……

  291. DR said,

    November 13, 2007 at 5:45 pm

    Yes this blog has become VERY interesting……

    Conclusion: We cannot evade the tax isssue because according to the law anywhere your money is..(whether Jamaica or even Iraq) you will be asked to pay tax. If you pay it on time before March 15, 2008 you will save yourself thousands of US dollars. (no penaties)!

    Yes they do watch how much money is wired…as a matter of fact maybe the banks are now giving a list of all CP cheques drawn and received – - to/from depositers.

    I was in JMMB one day,,and for the fifteen minuets I was in there….most of the cheques being drawn were going to clubs…..do you get my point?
    They can print a listing of that…..You CANNOT HIDE! (whether you wire or draw cheques). Even if you take a plane and lodge the money in TCI, or Cayman or Panama…..you will still need to get a cheque from some bank in Jamaica.

  292. Kevin2 said,

    November 13, 2007 at 5:55 pm

    I think this tax thing could have far reaching implications that may backfire on the Govt. The Govt and the banks risk losing substantial sums of money if these returns continue and people decide to move their accounts offshore and these clubs move their operations into the online virtual world. This is not difficult.
    With respect to OLINT, do they operate in JA?

  293. Patricia said,

    November 13, 2007 at 5:57 pm

    Bwoy, my tax accountant an’ lawyer fren dem..they know who they are, who done benefit big from these schemes will benefit even more now, from the increased clients…aahhh tell yuh!!

    But, CONCERNED, without going too far, when the various anti-money laundering and proceeds of crime legislation were been drafted,in the mid 90s, no one anticipated these advancements in tech, and financial/investment products and services…and now the various Govt agencies try to catch up…everybody now learning on the fly..hahahaha…but now the little man is learning fast too…that’s why this type of forum is important..Look at how much learning has occurred in here over the past 2 months…… AGAIN, Mr. Andre….JOB WELL DONE!!!!

  294. Anthony said,

    November 13, 2007 at 6:22 pm

    It appears that after March the government will be in a win win situation as they would have collected theirs while ours is still at risk. They will then hope for another prosperous year for us so they can do it all over again. We must definitely ensure that we get value for our paid taxes because the kitty will get a major boost this year.
    The thing that puzzles me, how will they deal with the investor who has say fixed long term in cash plus will the government wait on his knowing it is risky or will he say he aint a gambler so he wants his portion upfront.
    Have you noticed that all up on a sudden we r now called INVESTORS in the media by government representatives and not LENDERS,PARTNERS etc. that they had insisted that our particular investment houses draft up in our contracts on the basis that what we were doing could not legally be called INVESTMENT.I would appreciate clarity on this matter.
    For all the other squirrels out their that were gathering nuts, I pray u all had the wisdom to store enough for the bear who always drops buy for an easy meal.

  295. JK said,

    November 13, 2007 at 6:23 pm

    bwoy if i do make enuff money i might as well pay nht ins an education taxes

    atleaste wid the nht i can help me getting houses when my money large enuff lol

  296. AD' said,

    November 13, 2007 at 6:45 pm

    # 288 Anthoney you had me LOL with your comments regarding squirrels out their that were gathering nuts, I pray u all had the wisdom to store enough for the bear who always drops buy for an easy meal.

    I really appreciate you all bloggers we have all sorts here.

    Peace

  297. Mr. C said,

    November 13, 2007 at 6:46 pm

    Anthony i think the interest, while still with the institution (unrealised) is not considered until after it is sent to your account (realised). thats when the tax man will pounce. so if its rolled he basically keep one eye open but when sent to your account, both eyes and bags are open. Thats my understanding can someone confirm?
    Also based on earlier comments does this mean that once you start declaring taxes, you will now appear on the radar and have to continue doing this even if you closed your accounts and have nothing to declare?

  298. Kevin2 said,

    November 13, 2007 at 7:14 pm

    The tax discussions are great but we should focus first on ensuring these returns materialize.
    I like that these discussions seem to be moving to a new level. It would be great to see the various professions on this blog.
    Clearly, I can already see Lawyers, Bankers and Accountants.

  299. Michael said,

    November 13, 2007 at 8:05 pm

    292 GREAT COMMENT. I posted an article at #240 anyone care to comment. The professor is a beliver in CP like many of us.

  300. HD said,

    November 13, 2007 at 8:48 pm

    Bway the auditors dem musi a lick dem finger now an a sharpen up dem axe….I gwine go get my CPA and ACCA and whatever it takes and open up an accounting firm….feel free to sign up in advance.

    I guess Bruce is not a fool…..him a look di otherway an gwaan collect some extra tax…so him naa go kill it…but mek as much money off of it lef right and center. Not gwine hear pip squeeek out a him on dis whole ting for now.

    Kevin2 on the point of these returns materializing if this is the plan of the government we can probably rule out government involvment in interfering with those returns, becuase once them start making money off of it dem not going to give up or shut down the revenue stream so easily.

  301. HD said,

    November 13, 2007 at 9:24 pm

    Andre,

    Thanks for starting this blog ! it is the best and most usefull Jamaican Blog/ forum/chat room that I have ever known.

    I see a couple people have mentioned the time of the posts. If you wish you can change it by going into the options for wordpress site-admin and change the time offset.

    It can be found under site admin -> Options -> Times in the blog should differ by: . If you set this to -5 everyone should be happy.

    Cheers.

  302. Concerned said,

    November 13, 2007 at 10:40 pm

    Patricia,

    The proceeds of crime act was actually implemented in 2005 and your’e right i dont think they could have anticipated the rise of the alternative investment. They were drafted with criminals such as drug dealers in mind. They wanted to be able to seize the escalades and houses of the ” big men” of crime to try to deter them from crime, and also to seize the assets of the people that would defend and support them eg mom’s house , brothers benz. They just took bits and pieces from the rico act (used to dismantle the mafia) but they left out the administrative parts which could prevent the setting up of “investment clubs”… Taking money isnt a crime (yet) and you cant tell people where to put their money….

    With that said id advise all members to start saving your gas receipts, mortgage receipts (the interest can be used to reduce income), rent receipts, car payment receipts (the interest can also be used), lunch receipts are also good, and supermarket bills also make sure the gardner gets that receipt back to you after you pay him for cutting you yard… every little bit counts. Rememer even though you make money you spend it too you just need to keep good records all the way… And ps. Calculator tape is not a receipt.

  303. DW said,

    November 14, 2007 at 4:52 am

    Look out de TAX man a come,mi naw fret cause 25% of 152% lef 127% so,mi still come out ahead.LOOK OUT!

  304. AD' said,

    November 14, 2007 at 5:14 am

    To all my American Resident bloggers, not sure if this applies to us all but the information is as follows below.

    Income earned outside of the U.S. The IRS allows you to exclude up to $80,000 of foreign-earned income on your tax return. For more information, see IRS Pub. 54

    Capital gains. If you earn capital gains, you may have to submit Schedule D of Form 1040.

    Interest and dividends. Banks, brokerages and other financial institutions that pay you interest or dividends mail a 1099-INT, 1099-OID or 1099-DIV at the end of every tax year. If you earn more than $400 in either taxable interest or ordinary dividends, you are required to submit Schedule B with your 1040.

    Regards

  305. Wise Investor said,

    November 14, 2007 at 6:22 am

    I’ve been reading all the blogs on our “duty” to pay tax. Let me highlight some aspects of Jamaican law that I’m aware of.

    1) Interest earned is taxable at 25 – true

    2) There is a section of that tax act that enables investors to benefit from a tax break if the amount invested is J$1M or less, the principal is not touched for 5 years, and no more than 75% of the interest gained is withdrawn. It should be mighty interesting to hear from the Income Tax Department if us members of the so called “Alternative Investment Schemes” qualify for this income tax exemption.

    Read more about it at this site
    http://financialrambling.blogspot.com/2007/10/jamaican-long-term-savings-product-with.html

    3) Do you know that gains on the stock market are exempt from income tax. What I’d like for the Income Tax Department to explain to me is why interest gained from high risk investments on the stock market is exempt from income tax and interest gained from high risk investments on the forex market is not.

  306. Wise Investor said,

    November 14, 2007 at 6:34 am

    The Gov’t really ought to put things into context and realise that interest earned by members in these Investment Clubs, if allowed to return to the island tax-free, has the potential to be way more beneficial to our economy at this present time than does the stock market. My advice to Bruce & Audley is to bring gains from forex under the income tax exemption umbrella. With the proliferation of technology today, people have many options available to evade paying income tax on their interest, probably first and foremost being offshore banking. With so many offshore banks offering internationally Visa/Mastercard branded debit cards, there would be no wiring of funds to any local banks, making it virtually impossible for the tax dept. collect, and if the funds are offshore then our blessed isle of Jamaica would not benefit one bit from the gains on the forex market.

    Fellow bloggers, what do u think of my opinion

  307. DR said,

    November 14, 2007 at 12:51 pm

    Wow….Wise Investor #299 and #300, you have raised the level of arguements to a whole new level…I did not realise what you said wow…

    So if we have international cards from off-shore banks we can just use the multilink facility….wow hmm….. and we can upload money via the internet to the bank…. Interesting.

    on #299 can anybody else explain. I thought the 5 years exemption had to do with investment along the line of insurance. Like OMNI etc…..Scotiamint…they are all insurance link. Am I right? Please explain.

    Very interesting argument

  308. Patricia said,

    November 14, 2007 at 2:22 pm

    Wise Investor…you have hit the nail on smack on its head…all it takes is a little research on people’s part to educate themselves about their options…and things are not as complicated as it seems…..the forex gains situation is in no way new or unique to JA, people around the world use the off-shore route to protect their gains, as well as various tax planning measures in their respect tax legislation. Many off shore banks, have internet and telephone banking, to facilitate ease of transaction and account monitoring. There are even some who through the internet banking facility allow you to send you wire transfers yourself.

    The tax dept in JA will not tell you how to minimise or avoid tax, that’s where self education, your tax accountant and/or lawyer comes in……

    Wise one, thanks for your useful comments

  309. AD' said,

    November 14, 2007 at 3:58 pm

    Hello Bloggers was anyone aware that NCB has a Offshore bank in the Cayman Islands.

    NCB (Cayman) Limited is a part of one of the largest full service financial institutions in the Caribbean. NCB (Cayman) Limited is a wholly owned subsidiary of National Commercial Bank Jamaica Limited.

    P.O. Box 31120 SMB, Cricket Square, Elgin Ave., George Town, Grand Cayman KY1-1025, CAYMAN ISLANDS

    Phone:345-949-7090

    Regards

    AD’

  310. Yardman said,

    November 14, 2007 at 4:27 pm

    TO ALL U.S. CITIZENS & U.S. RESIDENT ALIENS

    Regarding Post # 298. The TAX exclusion is not applicable if you live on US soil. You must pass the Bona Fide Residence Test.

    Bona Fide Residence Test
    You meet the bona fide residence test if you are a bona fide resident of a foreign country or countries for an uninterrupted period that includes an entire tax year. You can use the bona fide residence test to qualify for the exclusions and the deduction only if you are either:

    A U.S. citizen, or

    A U.S. resident alien who is a citizen or national of a country with which the United States has an income tax treaty in effect.

    You do not automatically acquire bona fide resident status merely by living in a foreign country or countries for 1 year. If you go to a foreign country to work on a particular job for a specified period of time, you ordinarily will not be regarded as a bona fide resident of that country even though you work there for 1 tax year or longer. The length of your stay and the nature of your job are only some of the factors to be considered in determining whether you meet the bona fide residence test.

    Bona fide residence. To meet the bona fide residence test, you must have established such a residence in a foreign country.

    Your bona fide residence is not necessarily the same as your domicile. Your domicile is your permanent home, the place to which you always return or intend to return.

    Example.

    You could have your domicile in Cleveland, Ohio, and a bona fide residence in Edinburgh, Scotland, if you intend to return eventually to Cleveland.

    The fact that you go to Scotland does not automatically make Scotland your bona fide residence. If you go there as a tourist, or on a short business trip, and return to the United States, you have not established bona fide residence in Scotland. But if you go to Scotland to work for an indefinite or extended period and you set up permanent quarters there for yourself and your family, you probably have established a bona fide residence in a foreign country, even though you intend to return eventually to the United States.

    You are clearly not a resident of Scotland in the first instance. However, in the second, you are a resident because your stay in Scotland appears to be permanent. If your residency is not as clearly defined as either of these illustrations, it may be more difficult to decide whether you have established a bona fide residence.

    Foreign Earned Income Exclusion
    If your tax home is in a foreign country and you meet the bona fide residence test or the physical presence test, you can choose to exclude from your income a limited amount of your foreign earned income. Foreign earned income was defined earlier in this chapter.

    You can also choose to exclude from your income a foreign housing amount. This is explained later under Foreign Housing Exclusion. If you choose to exclude a foreign housing amount, you must figure the foreign housing exclusion before you figure the foreign earned income exclusion. Your foreign earned income exclusion is limited to your foreign earned income minus your foreign housing exclusion.

    If you choose to exclude foreign earned income, you cannot deduct, exclude, or claim a credit for any item that can be allocated to or charged against the excluded amounts. This includes any expenses, losses, and other normally deductible items allocable to the excluded income. For more information about deductions and credits, see chapter 5.

    Limit on Excludable Amount
    You may be able to exclude up to $82,400 of your foreign earned income in 2006.

    You cannot exclude more than the smaller of:

    $82,400, or

    Your foreign earned income (discussed earlier) for the tax year minus your foreign housing exclusion (discussed later).

    If both you and your spouse work abroad and you and your spouse meet either the bona fide residence test or the physical presence test, you can each choose the foreign earned income exclusion. You do not both need to meet the same test. Together, you and your spouse can exclude as much as $164,80

  311. Kevin2 said,

    November 14, 2007 at 5:34 pm

    WiseInvestor,

    You point is exactly what I said before in an earlier post. Maybe this was glossed over but this tax thing can backfire on the Govt. Technology is moving at an unprecedented pace today. The kind of global banking facilities that are available online currently are amazing to say the least. You can stay at home and open a bank account in a tax free haven e.g. (Turks) and do practically all wires, fund transfers right there from the comfort of your home. Yes there are minimums required to open such accounts but with the kind of returns that we are getting in these clubs, that minimum will be reached in no time. So don’t get worried about the tax man, look at your alternatives and they are REAL alternatives. You can use the local banks only for the mundane aspects of banking. For the real investment banking let them go to hell and go offshore.

    Did you all see today’s gleaner-online. “NCB makes $6.6B profit”. These banks have a nerve to tell people that. That level of profit is IMMORAL for a country like Jamaica. How can you show off that you are making such profits and you can’t even pay the staff well and the little investor getting monkey interest return each year? They talk about their internet banking played a key role in that profit. Here in the big white north internet banking is FREE. Mr. Lee Chin knows that. People, people, people… you need to stand up against these thieves. That’s why I tell you again, check out offshore banking and let these white collar criminals understand that we have the power not them. Give the local banks only the funds required for your existence. Place the real funds offshore.

  312. HD said,

    November 14, 2007 at 6:09 pm

    okay…my brain if full now.

  313. HD said,

    November 14, 2007 at 6:59 pm

    Kevin2, Do you have any suggestions for offshore banking ? one that will work for us Canadian residents ? Been thinking about it a while but havent come up with anything yet.

  314. Patricia said,

    November 14, 2007 at 7:12 pm

    HD, Wha kinda cerfitickit, yuh tink Andre gwine gi we when we gradiate fram dis ya blogging school??? A nuff tings we ah learn yuh nuh!

    I see you ask about Off shore..check out TCI, First Caribbean is certainly a very excellent option for the long haul, here’s a link scroll down to TCI for their contact details, you can email them as well, they do respond within 28 hours. And there are direct flights from Toronto(if thats where you are)to TCI

    http://firstcaribbeanbank.com/international/locations_info.html

  315. HD said,

    November 14, 2007 at 7:23 pm

    lol….maybe certification in American, Jamaican, Canadian tax law, Jamaican alternative investments, Jamaican politics, international banking, HYIP, forex trading, and forex managed funds ??? from the online University of Wealthmax ( Dean Andre Mathetes )….you Patricia be one of the professors.

    Hey, thanks for the link, I am in Toronto so that will work. I will check it out.

  316. DR said,

    November 14, 2007 at 7:45 pm

    I live in Jamaica, The only visa I have is a US visa. Question: Do I need a visa for TCI or Panama? I know I need a visa for Cayman.

    The point: I would want to be able to fly down to one of these countries to open an off-shore account.

    I am really learning alot from you all.

  317. Patricia said,

    November 14, 2007 at 7:57 pm

    DR, try this number for your enquiry 926-1500…should be Canadian Embassy they also deal with Turks consular issues in JA…as far as I know most foreign nationals do not need a visa, if going to Turks for less than 30 days, just return ticket, passport….enough funds for your stay

  318. AD' said,

    November 14, 2007 at 8:37 pm

    Hello Bloggers

    # 310

    DR, You don’t even have to leave your home they have application online.. I Just opened my account.

    I am in the process of opening my account. you will need the following.

    1. Completed Application Form

    2. Proof Of identity ( Passport, Identity Card).

    3. Proof of address (2 documents dated within the last 3 months, Tel Bill, Gas Bill) Mortgage statement etc)

    4. Certification Documents ( Which can be photocopies by a Notary, Lawyer, Actuary).

    5. Existing Bank statement with most recent month’s, temporary transactions list are not acceptable.

    6. Minimun balance to carry in most Offshore are 5000 Pounds $10,000 US. or 10,000 euros.

  319. HD said,

    November 14, 2007 at 8:47 pm

    Damn !….you guys don’t waist no time !…no if but or maybe !

  320. DR said,

    November 14, 2007 at 9:20 pm

    Thanks Patricia and AD, your guys have been helpful. Thanks Andre for this blog….I have learnt alot and will be exploring more.

    Here’s a hint: Once we can open the off-shore account in our own name then won’t be any proof…..read between the lines. (not sure who else is reading this blog – can’t give away all secrets)….

  321. DR said,

    November 14, 2007 at 9:47 pm

    Friends, Partners, Lenders….do you realize that the “deposit taking” institutions like NCB, Capital & Credit,JMMB & First Global are now venturing into a new world; Even offering loans without collateral, no questions, same-day approvals etc…..wow – - that was unheard of…before The Most Hon. Sir David Smith! (middle class people hero)

    the fact is: We can now buy cars CASH…..in a few years we’ll be able to buy houses CASH……the original banks seem to have alot of money and need to lend it out, in order to make a profit so that they can pay their workers and overheads.

    We could keep them in business by borrowing their money and do some “lending/partnering”….pay dem their interest and still have “excess” money in our AI schemes. Make sense?

    Afterall, we still need them to change our cheques, and to provide “low-risk” savings accounts for our “Thousands of US dollars”. Even though their interest is lower than the rate of inflation…..food for thought…..

  322. Mr. C said,

    November 14, 2007 at 9:58 pm

    you guys are simply the best……..RESPECT to all a unu!

  323. DR said,

    November 14, 2007 at 10:02 pm

    Finally: I have no problem with the tax issues….as after you have taken out the 25% tax…you would still be better off than if you had the whole principal in a deposit-taking institution.

    Example 1: (commercial Canadian bank in Jamaica)

    JA$100,000 at 10% per annum = Ja$110,000 at the end of the year.

    versus Example 2: (Jamaican Investment Scheme)

    JA$100,000 rollover at 10% per month = approx $315,000 ;
    taxes due $53,750…… I would still have $261,250

    Partners & Lenders….remember 10% is just the basic rate, can you imagine clubs that pay 12%,14%,15%,18%,20% and 25%…..wow are their any that pays more?

  324. AD' said,

    November 14, 2007 at 11:28 pm

    DR.
    You are right on that issues regarding>>> (not sure who else is reading this blog – can’t give away all secrets)…. I guess when we have sensitive information to share we will just email each other.

    AD’

  325. Adrian said,

    November 15, 2007 at 5:29 am

    I did some research on minvestment and saw some posts that said they were a ponzi/scam. It appears that they started in early 2007 and alot of the people who did the 150 day lock in will be due their funds in November and December. We will have to wait and see if they are still around in January. If you can’t resist dont drop too much dollars with them and wait for the first go around to see they really payout. I put a little. Be careful people.

  326. Wise Investor said,

    November 15, 2007 at 5:51 am

    #312

    Hey AD’

    Please email me info on the institution. hebigroder4293@emailwarden.com

  327. DW said,

    November 15, 2007 at 6:47 am

    AD,Like wise #312,would appreciate info on institution.Thanks in advance.dbops11@yahoo.com.

  328. the parkers said,

    November 15, 2007 at 10:41 am

    any one get any info an zoom accounting

  329. DR said,

    November 15, 2007 at 10:52 am

    #322, Zoom is up and running, so said one of my sources but it is not easy to get into. VERY EXCLUSIVE. You have to be referred! I am yet to find someone who is a member.

    Again Worldwise is the ONLY open club that I know about. (meaning that anybody can walk in and become a member).

  330. DR said,

    November 15, 2007 at 10:53 am

    Read this: any relations to any clubs here in JA?

    Bear Stearns taking more write-downs
    published: Thursday | November 15, 2007 Jamaica Gleaner

    Investment bank Bear Stearns Cos. will take a US$1.2 billion writedown in the fourth quarter related to weakness in its credit portfolios, Chief Financial Officer Samuel Molinaro Jr. said yesterday.

    Molinaro said the write-down will lead the company to post a loss during its fiscal fourth quarter, which ends November 30.

    Molinaro, presenting at the Merrill Lynch Banking and Finance Conference in New York, said Bear Stearns’ latest round of write-downs should “suffice” in accurately valuing products such as subprime mortgages and collateralized debt obligations.

    The US$1.2 billion write-down is net of any hedging gains, Molinaro added.

    In July, two Bear Stearns-managed hedge funds worth billions of dollars, and heavily invested in subprime mortgage securities, collapsed as defaults increased and the bank could not find takers to purchase the distressed securities.

    That helped trigger the credit crisis that swept the markets this summer.

    Bear Stearns has been “working hard” to reduce its exposure to the subprime mortgage and collateralised debt obligation markets, Molinaro said.

    CDOs are complex financial instruments that combine slices of varying assets and debt.

    Many CDOs are backed by subprime mortgages — loans given to customers with poor credit history. As those mortgages have increasingly defaulted, banks are being forced to write down the value of bonds and CDOs backed by the loans.

    As of November 9, Bear Stearns had about US$884 million in exposure to CDOs remaining on its books, and negligible exposure to subprime mortgages, Molinaro said.

    Bear Stearns took about US$850 million in writedowns during its fiscal third quarter, as banks took more than US$40 billion in total writedowns in quarter.

  331. Patricia said,

    November 15, 2007 at 2:45 pm

    Hi AD, can you email the link for the institution you wrote about……meikle61@gmail.com..Thanks in advance.

  332. Joelle Clayton said,

    November 15, 2007 at 6:43 pm

    AD can u e-mail me the info a well PLEASE bashy_joey@hotmail.com THANKS!

  333. specs said,

    November 15, 2007 at 7:21 pm

    can some one send me referral to may Daisy email me specs_357@yahoo.com

  334. Concerned said,

    November 15, 2007 at 9:00 pm

    Has anyone been to cash plus premier plaza in the last two days?

    Lets put it this way you wont have more than one tile for your self. At little after 1pm the place was packed with people demanding their encashment cheques. Apparently the dates that they have given people to pick up the cheques are not being adhered to, when you go in they just tell you “if your date is today the cheque is not ready”….. what about if it was due on tuesday a man asked and the response was ” if you bring in the receipt today your cheque not ready”. They are taking the receipts and then telling you to come back … or at least when i got there.

    And people are complain that they are getting incorrect disbursements, of course only the ones where it was less are complaining i bet. They are then being told that they have to come bace the next day… this is little comfort as there was a lady there saying that today was her third day as she had already gotten two incorrect disbursement cheques…

    If any of you guy’s have been there let me know your experience.

    AD’ good looking out with the offshore info…..

  335. JK said,

    November 15, 2007 at 10:35 pm

    ok as a relative youngster ……if i wanted to pay my taxes on my interest how do i do it?

  336. JK said,

    November 15, 2007 at 10:37 pm

    oh and i heard the tax threshold was like $195k jamaica

    do i jus tax the money made making this from my interest?

    no clue on what to do here help me out

    i may be highly immoral with certain things but i pride my self on being very legal

  337. namekyoyo said,

    November 15, 2007 at 11:03 pm

    Thought this was interesting and pertinent

    The following are designated as offshore financial centres by the IMF[1] or the FSF:

    * Andorra
    * Anguilla
    * Antigua
    * Aruba
    * Bahamas
    * Bahrain
    * Barbados
    * Belize
    * Bermuda
    * British Virgin Islands
    * Cayman Islands
    * Cook Islands
    * Costa Rica
    * Cyprus
    * Djibouti
    * Dominica
    * Dublin
    * Gibraltar
    * Grenada
    * Guam
    * Guernsey
    * Hong Kong
    * Isle of Man
    * Israel
    * Japan
    * Jersey
    * Labuan, Malaysia
    * Lebanon
    * Liechtenstein
    * Luxembourg
    * Macau
    * Malta
    * Marianas
    * Marshall Islands
    * Mauritius
    * Micronesia
    * Montserrat
    * Nauru
    * Netherlands Antilles
    * Niue
    * Panama
    * Philippines
    * Puerto Rico
    * Seychelles
    * Singapore
    * St Kitts and Nevis
    * St Lucia
    * St Vincent and the Grenadines
    * Switzerland
    * Tahiti
    * Tangier
    * Thailand
    * Turks and Caicos
    * United States (particularly, Delaware, but some other states have offshore characteristics)
    * Uruguay
    * Vanuatu
    * Western Samoa

    http://en.wikipedia.org/wiki/List_of_offshore_financial_centres

  338. Marsha said,

    November 16, 2007 at 1:11 am

    Hello Bloggers,

    I have been reading this blog for quite sometime and I must say this is a very informative site. Keep the exchange of information, feedback & knowledge flowing.

    Hey Patricia….I love your energy and tons of info you bring to this blog:-) Thank you sharing everything you know.

    AD – Can you email the information as well?…..maxhug920@yahoo.com. Thanks in advance.

    Regards,

  339. Patricia said,

    November 16, 2007 at 1:59 am

    Alas AD, you have forgot my request ..Thanks …………….meikle61@gmail.com

  340. Patricia said,

    November 16, 2007 at 2:00 am

    Welcome Marsha, and respects

  341. Adrian said,

    November 16, 2007 at 2:03 am

    Can someone send me more information on May daisy, adrian.baugh@juno.com

  342. Curves said,

    November 16, 2007 at 2:27 am

    AD can you send me info about this off shore thing?

  343. Curves said,

    November 16, 2007 at 2:32 am

    Actually…I need to know how will the transfer of funds from one institution to the next work . email me at julianjjjones5@gmail.com

  344. deuce said,

    November 16, 2007 at 3:14 am

    I think that avoiding Tax is quite legal, therefore can someone be kind enough to send me the necessary info
    kingdeuce@hotmail.com

  345. Kevin2 said,

    November 16, 2007 at 4:28 am

    Concerned,

    I find it a bit interesting that you went to Cash Plus today and people were generally pulling funds. There was another blogger Carl (#110) on another page of this site that went to Cash Plus yesterday and said the crowd was generally adding funds.
    You know what I have a difficulty with is this crowd that is there everyday. Why is there a crowd? Why can’t things settle down? Don’t these people understand that if they continue like this this can only place further pressure on the company. No company can sustain a constant crowd at its doors (whether adding or withdrawing). People should realize that it is in everyone’s interest to have stability. Ahh…well….

  346. Poor Risk Teka said,

    November 16, 2007 at 10:04 am

    what about this MAYDAISY? a lot of persons seems to be asking about it but there’s no answer… is it a super-elite club or something…. i am interested in knowing more about it … and Zoom Accounting too…… is anyone out there who can shed some more light on these… ANYONE… especially the fore, give a referral, something, anything

  347. DR said,

    November 16, 2007 at 10:48 am

    CP getting bigger: Jamaica gleaner:

    Jitters about late payment of Cash Plus allayed – Company blames the banks, claims slow processing
    published: Friday | November 16, 2007

    Cash Plus investors, or at least some of the group whose returns are remitted to their bank accounts, are experiencing delays in monthly payments.

    But on Wednesday, a company executive said the lag was linked to tardiness by the banks and not related to any cash flow difficulties by the investment club.

    “Because of the clearing periods in the banks, the payments are not facilitated quickly,” said Cash Plus vice-president Chris Golbourne.

    “There is this wait period.”

    The scheme’s club members, however, say that this was not always the case.

    The Financial Gleaner on November 9 visited the company’s Premier Plaza office which was opened October 19 as a dedicated office for disbursements and found more than two dozen irritated investors whose payments were late.

    Routinely delayed

    Individuals reported that their remittances which would normally be in their accounts on the third and fifth day of the month were now routinely delayed by four to six days.

    Later in the day the company representatives at the office announced that the fault was Cash Plus’ but advised that the funds had been sent to the banks for distribution. Checks with several investors late Friday confirmed that payments had landed.

    One ‘new investor’ who said his returns due monthly on the 8th, also said they have never been remitted on time. His payment this month reached his account Wednesday, the 14th.

    Cash Plus, meantime, has said it plans to enter the sector itself, but in the Dominican Republic where it has bought into a ‘banking institution’.

    “We have interest in it,” said Golbourne, adding that it was a controlling stake, but saying the details of that investment would be released at the same time as its financials.

    Golbourne, acknowledging that there was widespread concern among investors about timely remittances, said it was one of the reasons for last weekend’s hastily convened meeting at the National Indoor Sports Centre. The other, he said, was to allay fears that Cash Plus’ relationship with its bankers was faltering.

    “That’s why we made a statement to clients that it has been worked out,” he explained.

    By that the Cash Plus executive was referring to an announcement that the company was making arrangements for its members to be issued with an ‘international card’ that would allow them another means of accessing their funds.

    Golbourne claimed that 20,000 persons had showed up for the weekend meeting, but the Indoor Centre said the crowd was no bigger than 4,000, and that the facility’s capacity was no more than 5,000 to 6,000. Golbourne, who said he was emcee at the meeting, later said he might have been wrong about the numbers.

    Choice of returns

    Essentially, the new payment/card system under consideration would sidestep the local banks, but the choice of how their returns are paid will be left up to individual investors.

    Golbourne said that deal remains under negotiation and its details would not be revealed ahead of Cash Plus’ audited financial statements due out month end or soon thereafter.

    He said, however, that a regional financial institution had approached the company with the idea of issuing a Visa-branded card to members – the company lays claim to more than a 40,000 investor base – that would give them access to funds in an overseas account or accounts to be held in the name of Cash Plus.

    The system is being tested, with a few members already issued with the card under a pilot.

    The card will eventually be available to all for subscription, but still to be decided is whether members would be charged a fee to acquire it.

    Golbourne said the company’s ‘banking institution’ in Dominica Republic was not the company in question.

    The investment scheme, whose approximately 80 business operations span several regional countries and industries, has said it will publish the accounts to quell speculation about its financial health.

    “We are profitable,” Golbourne said on Wednesday.

    The majority of the company’s shipping and distribution business is overseas, he said.

    business@gleanerjm.com

  348. DR said,

    November 16, 2007 at 11:45 am

    Have you been following the news? could we be seeing the possibility of a relationship Bearns & Stearn/CashPlus/Air Jamaica?

    hmmm interesting times.

  349. Joelle Clayton said,

    November 16, 2007 at 11:45 am

    Kevin2,

    Cash Plus have no problem with people coming in on a daily basis whether to add or withdraw funds. the major problem they have is SPACE and they have tried several methods of expanding but they keep getting a fight because of the name “Cash Plus”, they have even tried to buy the whole Guardian Life building but apparently the sellers weren’t selling…. Even for them to acquire the extra space in the building that they have acquired was causing major problems. So it’s really by default that a crowd is always there because as a result of lack of physical space, there is a lack of employees (only because the space cannot accomodate them, to add more employees in a small space would see the company experiencing diminishing returns), lack of employees result in slower processing times, which leads to the crowd as people who are there from early in the morning are still there in the evening etc.

  350. Poor Risk Taker said,

    November 16, 2007 at 12:13 pm

    interesting times are ahead

  351. specs said,

    November 16, 2007 at 12:22 pm

    dr you may be right. i have been thinking about it for a while. if c+ gets airj it a big plus for them and would quite a few people.
    can any refer me to may daisy my email is specs_357@yahoo.com

  352. babymama said,

    November 16, 2007 at 1:28 pm

    I have been with cash plus now for a couple of months going good so for. trying to invest in ww found out there is a company pretending to be worldwise do your research ppl

  353. babymama said,

    November 16, 2007 at 1:31 pm

    it would be truly fantastic if cashplus issue a card i would be really greatful

  354. DH said,

    November 16, 2007 at 1:48 pm

    AD could you send me a link relating post 313

    Email:daneal95@hotmail.com

    Regards

  355. Concerned said,

    November 16, 2007 at 2:22 pm

    Kevin2

    Note that I was went to the premier plaza branch which is where they do disbursement, that is where i mention that has been packed for the last two days. I think you have it confused with the new kingston office that takes deposits.

    And Joelle is right they have both a space and a staffing problem… there were over a 100 people there yesterday when i was there (53 standing in the disbursement pick up section) and only one poor woman trying to sort out the disbursements. And as for the front desk, that was just sad all the lady kept repeating was sorry, i dont know and your cheque not ready.

    They need to sort out their customer service issues, nice returns are all well and good but poor service will hurt the best of businesses.

  356. Carl said,

    November 16, 2007 at 4:23 pm

    Guys , you know what if most of us weren’t speculators as opposed to being real investors we wouldn’t be giving CP such a hard time. I see people complaining to the Gleaner that they had to wait 4 days extra for payments. You know what; I had to wait two months to get my payments from Higgins Warner. Right now they are current with me, but my Sister has not been paid for October and November as yet. I doubt CP ever had this problem as severe as HW has had. I have faith that CP will over come . A lot of us are dependent on this venture to be around for a very long time, so that we can achieve our financial goals. So let’s pray that it finds favour with the new Goverment.

  357. Kevin2 said,

    November 16, 2007 at 5:24 pm

    Joelle and Concerned,

    Thanks for the clarification. I also didn’t know that there were separate offices for disbursements and deposits.

  358. Kevin2 said,

    November 16, 2007 at 5:29 pm

    Just an observation but I find it very strange that since the C+ meeting a few days ago, the media seems to be very quiet now regarding C+ apart from this little late payment thing. Before they were all over the character of Carlos Hill and the operations of C+.

  359. Cleon said,

    November 16, 2007 at 5:33 pm

    Carl #351

    Can you indicate what happened as to why Higgins Warner took so long to make the payment…(have u heard anything from them as to why)

  360. Anthony said,

    November 16, 2007 at 6:16 pm

    Hi guys
    Any one with any use full info on

  361. Anthony said,

    November 16, 2007 at 6:19 pm

    http://www.aicclub.com

  362. Patricia said,

    November 16, 2007 at 7:49 pm

    hhhmm Anthony, AIC’s site as is to be expected, doesnt really reveal much. They are incorporated offshore in BVI, but the tel # isn’t a BVI line as BVI’s country code is 284,the number when auto answered, has a message by a Robert Anderson, with a tahdah, J’can Accent. Sent them an email…hhhhmmm will see. YOU KNOW ME AND MY DUE DILIGENCE

  363. DR said,

    November 16, 2007 at 8:16 pm

    Specs, #346 unfortunately I cannot refer you to May Daisy….I wish I could help but I don’t have that kind of authority.

    We wait to see if CP will own AirJ one of these days……Afterall they did not get through with a certain light and power company….They got Hilton though….If Carlos continues….He won’t be ignored.

    #356 I have never heard of aicclub…I looked at the site…generally though if you live in Jamaica, stay FAR from overseas-online based investment schemes…make sure they have an office, so you can go in from time to time to take a look. Make an effort to meet at least one person from the management team…

    Have a good weekend.

  364. DR said,

    November 16, 2007 at 8:17 pm

    Any word from SwissCash? are they coming back? have they repaid?

  365. Steve said,

    November 16, 2007 at 8:18 pm

    Hey Guys thanks for all the contribution to this site I learn alot. Question…If you live in the US and have have family members that reside in Jamaica that are with one of the US$ clubs, if you have funds with the family member and not in your name and you get monthly returns sent to in the US, how do you report that to the tax man since you do not have any statement in your name? Thanks…..

  366. Concerned said,

    November 16, 2007 at 8:34 pm

    Update:

    CP premier was still packed today with people demanding their encashment cheques and not being provided with answers as to why they are not ready. I did however see some effort being made to speed things up a littlle as there were two people at the disbursment counter and another lady came to help out.

    If anyone knows any of the managers at C+ they need to send in a friend or an independent person there to see what is really going on. I know the staff is stressed but when people are asking when there cheque are going to be ready and the response is going to be “how i must know” then the person…. (front desk yesterday) just turns and walks away, all that does is upset people even more.

    I see them trying over the last three days to cope… but at least one person needs to go or at least be taken from the front line ASAP…

  367. Michael said,

    November 16, 2007 at 8:34 pm

    As I mentioned at comment #91 about CP tryiny to acquire a bank. CP has controlling interest in a bank in Dominica Republic , article in Gleaner.

  368. namekyoyo said,

    November 16, 2007 at 8:39 pm

    Hey Steve that is a really good Question. I’m in the US also. Anyone willing to take a shot at #360.

    Steve or anyone else out there….do you know the names of the clubs here in US?

  369. Steve said,

    November 16, 2007 at 8:45 pm

    No not aware of any clubs in US

  370. Don Giovanni said,

    November 17, 2007 at 4:42 am

    @ DR – a friend of mine told me his mom got paid from SC recently (last week)
    I think they’ll “probably” start again.. real soon

    As for online investing, i’ve noticed that ‘we’ dont seem to trust them. We’ld rather see staff face to face, noticed the trend on a couple forums.. if you do your research i dont see what the difference is..?

  371. DW said,

    November 17, 2007 at 5:58 am

    kyoyo #363,try this link,hope you will have some success. CustomerCare@lewfamclub.us 191 Peach Street suite 3300 Alanta GA 30303 Tel:404-946-1816 or 404-946-1817, Fax:404-946-1818

  372. alex said,

    November 17, 2007 at 6:07 am

    hey guys just joining. thanks for alos the info its has been very helpful cuz i was thinking of taking my money out cp but now i know better.
    Big up to patricia and andre, keep up the good work and all u bloggers.

  373. alex said,

    November 17, 2007 at 6:11 am

    hey guys just joining. thanks for all those info it has been very helpful.
    keep up the good work Andre and big up Patricia and all u bloggers

  374. Mellonie said,

    November 17, 2007 at 12:07 pm

    Welcome Carol,
    Thanks for sharing your experiences and comments about the clubs mentioned (#1113). Always a delight to hear from an active club member.
    I too am interested to learn more about captialhillfx; could you provide a referral or share their web link? My contact info: mgtbur@yahoo.com.
    I trust that you will stay apart of the blog family and share more.
    Thanks in advance.

    Poor Risk Teka…..I see you as “Mr. Gate Keeper” watching out for the newbie to the blog……LOL! (I couldn’t resist, I promise to move over to the next link)
    As “Mr. Educator”…..I really appreciate your present and energy on the blog. Please keep the information flowing.

    Welcome Marsha……. it’s always good to hear from newbie! I feel like yu are blog family already!

    Buoy…US taxes! We can’t run, we can’t hide, no care where yu di, yu can’t shake it, nor keep dem for digging the seams outta yu pockets to tek way yu dollars $$$$$. Got some info to share latta when me done reading it. It’s really an eye opener!

    Let our blessing keep us afloat that we remain prosperous in our entire investment endeavor.
    Later

  375. DR said,

    November 17, 2007 at 1:31 pm

    #365 DonG Thanks for your contribution.

    There is a big difference with the internet based investment companies vs the ones that have an office….. Worst case scenario….you know where to go if anything bad happens. You would probably have seen some people in managament along the way……read between the lines.

  376. HD said,

    November 17, 2007 at 3:28 pm

    For those looking for US based “clubs”…..see the link below:

    It is more of a managed forex fund and not a “club” and the “sentiment aggressive fund” seems to be averaging approx 13% per month (simple interest).

    Please do your own research before investing. I am only pointing to the water and I am not telling anyone to drink.

    http://www.fxcm.com/managed-funds/managed-funds-terms.jsp

  377. Poor Risk Taker said,

    November 17, 2007 at 4:27 pm

    Mellonie #369

    It would actually be Ms. Gate Keeper :) …

  378. Lone Wulf said,

    November 17, 2007 at 5:29 pm

    What the word on http://www.capitalhillfxclubs.com ?
    can someone send me an invite ?

    wulf.lone[@]gmail.com

    ( Just remove the square brackets from the address above when sendind me the invite)

    Thanx JK for posting the link : http://www.highyieldsource.com/forum/

  379. DR said,

    November 17, 2007 at 6:15 pm

    Why did my friend go to CP on Friday, collected a chq, took it to RBTT where it “bounced”…..He went back to CP, who re-issued a cheque immediately drawn on NCB….and that cheque went through ok.

    If you know your account is low at RBTT, why issue a cheque for that account. Come on CP, get your act together.

    Do you all think that if CP crashes, it will affect the other clubs? Do you think people will get nervous and exit the other clubs too….? It should’nt be the others are trading. CP says they are not trading…..different kettle!

  380. John Doe said,

    November 17, 2007 at 6:33 pm

    Did anyone know that RBTT is no longer accepting direct cash deposits for WW? Apparently WW doesn’t know this either.

  381. Anthony said,

    November 17, 2007 at 7:01 pm

    Thanks Patricia
    I too share that sentiment about internet based investments, however I have been trying to learn something about aic for a couple of months and only noticed recently that there is a little more info on there sight.
    I just want to be knowledgeable thats all.
    I also sent them an email.

  382. Sammy said,

    November 17, 2007 at 9:05 pm

    Beware of Higgins Warner!

    He stole some money….

  383. Paige said,

    November 17, 2007 at 9:16 pm

    I was told today that May Daisy is not taking US clients at this time. This was told to me by someone who resides in US who received an email from May Daisy two weeks after registering. Does anyone know if this also pertains to people who reside in JA too.

  384. John Doe said,

    November 17, 2007 at 9:31 pm

    Has anyone here actually signed up with May Daisy?

    Does anyone have a telephone/fax number, email/physical address for MD ?

    Can anyone confirm what the returns are like?

    Who is the trader(s) behind MD, is May Daisy a person, is that her real name?

    Of all the skeems, MD seems very elusive when it comes on to information (maybe thats not such a bad thing). But seriously though whats the deal with MD?

  385. DH said,

    November 17, 2007 at 9:54 pm

    Maydaisy is very much Real, there a address, telephone for a customer service, name of contact persons and whow runs it. but only person that are apart of the club has this information and will not disclose, unless you are a member.

  386. Paige said,

    November 17, 2007 at 10:00 pm

    so DH
    do you know if they are taking new clients that reside in Jamaica. If not can you call customer service and find out and share with the forum. Thanks

  387. DH said,

    November 17, 2007 at 10:11 pm

    As far as I know, there taking on Jamaican and other caribbean countries,It is like tricky with US clients because of the whole tax thing and nobody whats poblems with the US government. F1 and lew fam roughly has the same policy.

  388. Sue Sue said,

    November 18, 2007 at 12:10 am

    DH,
    Please refer me to MD I’ve being to get in. My email is cutecat_rm@hotmail.com. Thanks in advance!!!!

  389. Kevin2 said,

    November 18, 2007 at 12:19 am

    DH or anybody,

    Why is it so diificult to get a referral to May Daisy?

  390. DH said,

    November 18, 2007 at 1:01 am

    Well Kevin2, the thing is, one may say we are selfish, but the throught is we dont know who you guys are. You could be working with the FSC, we just dont know. Most members were invited by friends so they are trying to keep the club among friends. In my opinion if you talk to people you are acquinted with about the different investmnet clubs you are sure to find someone that can refer you.
    I thing this blog is a start of varing possibilities. For example a blogger can setup a club where we can all meet and discuss various topic and stategy to investment and get referrals.
    Peace

  391. Paige said,

    November 18, 2007 at 1:44 am

    well dh can you email me because I would love to get additional info about may daisy or even talk about setting up that club.pattypage73@aol.com

  392. Patrcia said,

    November 18, 2007 at 2:09 am

    DH….if you dont mind I too am looking for additional info on May Daisy…I have asked around and none of my trusted sources in Ja or elsewhere in the Caribbean are members of May Daisy, in fact none of them had heard of it b4 I asked, and I first heard of that club in this forum. for the record I dont live in Ja, and I have never worked for the FSC, nor any other financial regulatory body in JA or elsewhere…like many here I’m a risk taker, cautious, but one nonetheless, and I am just trying to diversify my little portfolio…….I can be reached at meikle61@gmail.com

  393. specs said,

    November 18, 2007 at 3:11 am

    dh can u refer me to may daisy i too am trying to diversify my portfolio my email is specs_3572yahoo.com.
    regarding c+
    i think we who are members should support the companys owned by them thereby supporting our interest. also mr hill promised to print a list of c+ holdings at the hylton meetig recently, just hope he follows through.

  394. specs said,

    November 18, 2007 at 3:12 am

    dh my email is specs_357@yahoo.com

  395. Yardman said,

    November 18, 2007 at 3:57 am

    ANNOUNCEMENT POSTED BY MAY DAISY ON 11/17/07

    Dear members, We regret that we have taken a decision not to approve applications with United States addresses. We wish all a blessed Thanksgiving. Best Regards MayDaisy Customer Care.

  396. Kevin2 said,

    November 18, 2007 at 5:06 am

    Come on DH,

    I think we are all here for the same purpose. To learn about different investment vehicles and how we can take advantage of them. If we are members of various clubs, I see no reason why we wouldn’t want everyone to know about them. Maybe MD isn’t taking more referrals but if they are, I can’t see why you would keep this info to yourself. Further, as a resident of the great white north, I don’t know anyone in JA with ties to MD. This is why this blog has been so successful to date. It enables all of us to keep up to date with what is happening.
    So if you don’t mind….., please email me at: kevin2@live.ca with the details or at least for us to talk offline if you wish.

    Yardman, I notice you also seem to be a member yourself.

  397. alex said,

    November 18, 2007 at 7:13 am

    dh i agree with kevin2. we all want to diversify our porfolio thats y we r intersted in the various clubs and u r the only person on this site that can give us the info that we need and also the referrals for MD.
    so if u dont mind please email me at : jalts20@yahoo.com

  398. Paige said,

    November 18, 2007 at 10:34 am

    DH
    I am wondering if May Daisy’s members would be giving more referrals if there were incentives offered. I was told when a referral invitation is sent out there is no way to track who the referring member is. Is that really true.

  399. DR said,

    November 18, 2007 at 10:59 am

    #374 John Doe:

    I wonder why would RBTT not take direct cash deposits for WW? I really can’t see why. Maybe they just prefer to have “their” customers write cheques. That way the bank lines are shorter….I don’t know, I am not sure

  400. DR said,

    November 18, 2007 at 11:06 am

    Friends All,

    What effect will CP have on the other clubs if it fails? Do you think partners and lenders will pull out of other clubs? Would you?

    If so maybe I should pull out of the clubs I am in. (NOW!)

  401. Mellonie said,

    November 18, 2007 at 11:11 am

    Poor Risk Taker
    Ref: #372

    LOL………you would not believe that I actually had written “Mr/Ms” and changed it just prior to submitting the post. Nuff respect to you!
    Certainly, we are still blog family? :-) ….. :-)

  402. DG said,

    November 18, 2007 at 12:48 pm

    #374 #393, I, too, was told by RBTT that I could not deposit cash directly into WW account. They told me that only cheques could be deposited – something about a paper trail. Of course, I made the mistake of depositing the US cash in my account and then requesting a draft for deposit in WW. I was then told that unless I waited either five or six working days, I would be charged for withdrawing cash from my account – about 2.91%.
    I certainly will be going to WW on Tuesday to investigate this matter further because I was told by RBTT that the “no cash deposit” was instituted by WW.

  403. KirK said,

    November 18, 2007 at 4:21 pm

    I noted that the only person talking about Maydaisy is DH, is there anybody else that can confrim if Maydaisy does Exist.
    DH or anybody else can you say how long maydaisy have been around and where they are located.

  404. John Doe said,

    November 18, 2007 at 4:25 pm

    DH

    I think you are being selfish….you sound just like one of those persons who had the wiring information for SwissCash but would not share it….In case you didn’t realise, this is called Open-Channel….everybody is here to gain information….just like yourself

    But don’t worry fellow bloggers, I will try and get some information on this elusive May Daisy (including wiring info)…I will try and get some invites too…

    So far, I have learnt that her real name is Daisy Coke she is an actuary, she works for the JA government on the Public Services Commission (read todays Jamaica Observer, her name is mentioned there)

  406. KirK said,

    November 18, 2007 at 4:34 pm

    lol!!!!!!!!!! John Doe aren’t you glad you did’nt get the wiring information for SwissCash. The same could be said for maydaisy.

  407. KirK said,

    November 18, 2007 at 5:03 pm

    it looks like maydaisy do have a web site but y need a username and password access the site

  408. KirK said,

    November 18, 2007 at 5:14 pm

    I have some concern, the web site says Maydaisy e-partner plan club, can someone explain DH/anybody. Because the club sounds like a partner plan, maybe a pyramid scheme.

  409. Patricia said,

    November 18, 2007 at 5:31 pm

    hhhhmmmm Daisy Coke eh?..acclaimed Actuary, first female black actuary in C’bean, Dunbar McFarlane’s sister(former big exec at NCB group)……Daisy Coke yes worked with Govt as actuary, key person involved in pension reform..and…..a zillion other things….Well J. Doe If she’s involved maybe that’s why it is so well below the radar, ‘cuz there would be no way she would want john public knowing too much about this. She is one smart tough lady though, but I still cant see her trading at this level…….she should be set for life…maybe she is involved, but not the central figure…….I’ve sent my scouts out..And folks remember the principle of 6degrees of separation…who ever is in charge is no more than 6 people removed from you!!!!, BUT also guess what?? if we dont get in, no biggie life goes on. Slow an’ steady,.. we’ll finish the race……DH/CHRIS/BASIL/DR… NO WORRIES…..everything cook and curry!!!

  410. John Doe said,

    November 18, 2007 at 5:33 pm

    Fellow Bloggers

    Here is some info on MD

    http://www.zshare.net/download/499347075f2a8c/

    By tommorow I will try to get some wiring details.

  411. Patricia said,

    November 18, 2007 at 5:33 pm

    hahahahahh…later

  412. Paige said,

    November 18, 2007 at 5:57 pm

    John Doe who are you? Are you a FBI Spy. It is funny how we have been trying to get info on this somewhat elusive plan forever and here you are with the goods in what seems like a matter of minutes. Keep up the good work. I know it is truly appreciated. What can you do regarding getting info on past performance and the rates.

    Thanks

  413. KirK said,

    November 18, 2007 at 6:04 pm

    John Doe are you a member of maydaisy, because from the pdf file i noticed that different tabs, such as invite partner, placement,account,personal info, log off, etc. So could you give us all a invitation
    thanks in advance

  414. Kevin2 said,

    November 18, 2007 at 6:08 pm

    I would find it hard to believe that MD is Daisy Coke (actuary). I have known Daisy for years and the person I know I just don’t see her doing this kind of stuff. But hey ..anything is possible.

  415. KirK said,

    November 18, 2007 at 6:19 pm

    John Doe
    Can you find out how long Maydaisy have been around and is it currency trading that they are doing or are they making money out thin air like CP

  416. Dan said,

    November 18, 2007 at 6:43 pm

    YOW Bloggers this guy John doe is jerking you around, For him to provide you with this information, he has got to be a member, Because you need a username and password to be able to see that kind information.

  417. Paige said,

    November 18, 2007 at 6:51 pm

    Well Dan, since it seems you are a member why don’t you help us out and provide us with answers to some of the asked questions such as past performance rates? how long has the company been around? is May Daisy still taking Jamaican clients? how are they making money? you know the questions that the forum has been asking for the last couple of months.

  418. Dan said,

    November 18, 2007 at 7:13 pm

    Well I am willing to refer you guy but there is a cost 0f
    US$400 per referral

  419. KirK said,

    November 18, 2007 at 7:33 pm

    Yow Dan you no easy, I guess if you wan good you belly a fi run.
    Gave a link at kirkdoug@yahoo.com

  420. DR said,

    November 18, 2007 at 7:39 pm

    #411, Dan be careful, as mi brethern….we don’t charge for refferal on this blog…..you are not sure who (else) is reading this blog. Let me just remind you that a comment from another blog made it to the Jamaica Observer.

    People let’s not get upset on this forum….There are clubs and then there are CLUBS. I would like to get into the big club that the big boys are in….that pays over 50% per month I am told….. We can’t get in there because our surnames is not on the list of the top 21 families.

    I have had to accept Patricia, that their are some clubs I will never be able to get into…..I have heard of 15 – 20 clubs. I will accept that Dan won’t give us all an invitation but guess what….I want to get into the 25% and more clubs.

    Besides there is “rich” and “richer”…. As long as I am amoung the “rich”, I’ll be fine. The 10% and 12% clubs are available to us…..The brave can hook up for 5 years with CP and get 15% – 18%….. What more than that do I need?

    Peace to you Dan, DH, John Doe, and Patricia. I want to caution us not to get upset with each other….Let us keep the harmony going.

    I am not greedy!

  421. Paige said,

    November 18, 2007 at 7:45 pm

    Dan,
    you still haven’t answered any of the questions asked in #410. Notice I have not asked you for a referral. How about it? that is just answering the questions asked for a starter. Just to reiterate, that in itself would be greatly appreciated.

  422. HD said,

    November 18, 2007 at 8:20 pm

    DR cough it up !…..or we going to come to your house…:-)

  423. DR said,

    November 18, 2007 at 8:46 pm

    Hey HD, what do you want to hear?

  424. babymama said,

    November 18, 2007 at 10:19 pm

    i heard a rumor that cp owns mainland and also that the government want to start taxing then. is that possible are they suppose to pay tax? how do you guys think that will affect us?

  425. DR said,

    November 18, 2007 at 11:05 pm

    #417 : CP not only owns Mainland which they purchased for US$60million but they own Drax Hall Estate US$100million, they bought Hilton Hotel for US$42 million. They invested an undisclosed sum in International Airlink….and the list goes on and on…..They were recently trying to acquire The Jamaica Herald and Nationwide Radio…..Them BIG…Dem have nuff MONEY!

    You need to pay your taxes. It is a requirement by law, speak to a “good” accountant or tax lawyer and let them help you reduce your taxes. Keep all your receipts. Purchase major items out of your interest…..That will help to reduce taxes.

    If you don’t pay taxes then you are going to be charged HIGH PENATIES with interest…..That is WORST!

  426. Yardman said,

    November 18, 2007 at 11:17 pm

    INFO ON MAYDAISY

    MayDaisy has been around for approximately 3 years. There is absolutely NO REFERRAL FEE. However, membership is strictly by invitation. The payout has been 20% per month or more. It is indeed run by a phenomenal lady, who is one of the best Forex Traders in the World. Her name is not Daisy Coke. In addition, if no withdrawals are made for any quarter, (Jan-March) and so on. The individual partner account is awarded an extra bonus, which to date has been US$400.00, on top of the monthly payout.

  427. kirK said,

    November 18, 2007 at 11:23 pm

    YardMan How long have you been in it

  428. Paige said,

    November 18, 2007 at 11:37 pm

    Yardman. Thank you so much for sharing.

  429. Paige said,

    November 18, 2007 at 11:57 pm

    Yardman what is the minimum to invest in MayDaisy and do they have an office if you need to see someone face to face?

  430. Adrian said,

    November 19, 2007 at 1:51 am

    Can someone send me a referral for May Daisy, definitely interested….

  431. specs said,

    November 19, 2007 at 2:02 am

    re 418

    we are required to pay our taxes on all income. it should be noted that tax is not equitable and as a result regardless of how income is earned it is taxable.
    guys u need to be careful as the only expenses that can be deducted from the income are those that are solely associated with earning the income

    for those that are members of may daisy you guys were also referred bysome so why no give us a chance to diversify our portfolios. i should think that all of us are interested in these clubs for the same reason ( give us a chance to accumulate some wealth )

    any interested in refering me to may daisy my email is specs_357@yahoo.com

  432. HD said,

    November 19, 2007 at 2:25 am

    also interested in may daisy referal:

    hd_731@yahoo.com

  433. DW said,

    November 19, 2007 at 2:30 am

    why dont we all start a CLUB… forget MAYDAISY! lol

  434. DW said,

    November 19, 2007 at 2:57 am

    Open Channel Club,OCC for shorts.lol

  435. specs said,

    November 19, 2007 at 2:59 am

    good idea we only need a good fx trader
    in up for it lol

  436. DW said,

    November 19, 2007 at 3:04 am

    Patricia would be a good candidate.

  437. Kevin2 said,

    November 19, 2007 at 3:29 am

    I am at a loss why it is so difficult to get a referral to May Daisy. The MD members here are acting like they own it. We all know why these clubs use the referral process. Could it be that MD is no longer taking any new members? If so , just come out and say so. But if they are taking new members what the the secret behind the acceptance criteria. I hear about group of friends. Is it so many close friends in this club.? I guess DH, Yardman et al are all best buddies. We can’t share general info on the club even privately? All you MD members if you are no longer willing to share simple info as this then why should you continue to participate in this blog?

    On a separate note, Rohan on another page posted a blog with a very profound statement. There he said…the growth of these clubs will help to change the social aspect of JA life by eliminating the financial status that currently exist. ..In JA, the rich gets pleasure in flaunting their wealth in the face of the poorer man. This happens also among friends. It is what you drive, where you live etc. ? Hopefully these clubs will put more people on the same financial footing so people will have to find new social pleasures.

  438. Mr. Skeptic said,

    November 19, 2007 at 4:23 am

    Re#393
    On WW’s site it no longer has the info regarding depositing money at the RBTT bank. They make mention of there bank account but they do not stipulate which bank acc it is. rbtt joint the fight as well.

  439. AD' said,

    November 19, 2007 at 4:27 am

    Hello Bloggers Patricia, DR, and the others I was away for a while, sorry if i did not respond to your emails.

    AD’

  440. AD' said,

    November 19, 2007 at 4:49 am

    Hello Bloggers May Daisy has only been around for around 11 months And that would mature on the 29th of this November 2007 and it is a US based company out of California Organisation Name: Clive S. R. Heaven. I was just wondering I notice that someone said earlier that it has been around for the past 3 years now.

    Really hope this is legit based on the name servers I am reading through the status. I also found this information that states Please be aware that the fake banks, lotteries and companies on this list are used by dangerous criminals the list has the same name servers that are registered by MD. I cannot say if this is real or not but i would do more research into this. I just like to cover my end before i see my fellow bloggers go ahead. Not trying to discredit anybody i ‘am just doing my own research. Please find link below. The same phone number they are using is coming up on a list as fake database

    http://db.aa419.org/fakebanksview.php?key=9060

  441. Don Giovanni said,

    November 19, 2007 at 5:17 am

    JDoe – looks like ur link was reported or u removed it.

    As i’ve said in the previous post, most locals arent willing to invest in an online scheme. We rather see ppl face to face… so what if MD turns out to be an online trader would you all still be willing to through your money at him/her?

  442. DG said,

    November 19, 2007 at 11:32 am

    It appears that May Daisy is NOT actually taking on new clients at this time. I am basing this statement on an e-mail I received as shown below:

    Dear Prospective Clients:

    Quicksilver Investment Club has currently increased its investment portfolio to include five investment options. Four options are related to foreign exchange trading (forex). The fifth is an Internet marketing program. We offer a wide variety of investments as each forex trader has their advantages and disadvantages. Minimum amount to invest in all forex options through Quicksilver Investment Club is $1,000 USD. Statements are sent to your email at the end of each calender month.Please note that you may also join with each trader and have your own account by navigating to the specified website with more or less than $1,000 to start up.
    Only May Daisy is not accepting new client at this time.

    Option 1:
    Trader Website: World Wise
    Returns: 12% Compounded
    Comments:Interest can be withdrawn after the first month or it can be rolled over at the end of the month.

    Option 2:
    Trader Website: May Daisy
    Returns: 15% Compounded
    Comments: Interest is automatically rolled over for the first months at which point you can withdraw from the principal or the interest or continue to roll over funds.

    Option 3
    Trader Website: Finanzas Forex
    Returns: 10 – 20% Compounded
    Comments: There are four different plans to choose from depending on how much you invest. Refer to the website link.

    Option 4:
    Trader Website: Online Capital
    Returns: 50% +
    Comments: Interest is paid daily, weekly or monthly. You choose when withdraw interest depending on the plan you choose. Your principal deposit cannot be withdrawn for one year. Click link for more info.

    Option 5:
    Program: Achievers’ Union
    Membership Cost: US$ 159.00
    Comments: Market the companies e-books to earn monthly commission from sales and referrals. The program is also affiliated with CAREIF.

    Persons have been contacting the Club for recommendation to join OLINT and Cash Plus. Please note the the Club is not a member of either one of the investment schemes and therefore cannot refer anyone.

    Regards,

    –
    Michael Hall, MJIM
    Director/Client Manager
    Quicksilver Investment
    P.O. Box 5415, Liguanea P.O., Kingston 6
    Half Moon P.O., Rose Hall, St. James

  443. DR said,

    November 19, 2007 at 11:53 am

    #432 Welcome back AD:

    #431: Mr. Skeptic, Nuff Respect, thanks for the clarification.

    #424 Specs:
    “guys u need to be careful as the only expenses that can be deducted from the income are those that are solely associated with earning the income”

    This is a very important point you have made, as for true I use to use my profit in my business to buy other equiptment, but then now that I think about it….the truth is the equipment had a direct link to the income.

    This blog is by far th best…..I have read others but none is as informative.

  444. DR said,

    November 19, 2007 at 11:55 am

    Does “Online Capital” have a base in Jamaica? or is it only an internet based high-yield.?

  445. Poor Risk Taker said,

    November 19, 2007 at 12:21 pm

    Online Capital is an internet based HYIP.

  446. Charliebabe said,

    November 19, 2007 at 11:55 am

    #376 Sammy

    Please shed some light on your comment re Higgins Warner

    Thanks

  447. Yardman said,

    November 19, 2007 at 1:57 pm

    # 433 is posting total nonsense about MayDaisy. They are are not based in California, and is not even on United States soil. Think people, think. If May Daisy was US based why then would they not accepting any more US based clients, like F1?

  448. DR said,

    November 19, 2007 at 3:12 pm

    Thanks #439.

  449. DH said,

    November 19, 2007 at 3:21 pm

    AD and Yardman are you people member of maydaisy , because you people have conflicting stores about Maydaisy

  450. DH said,

    November 19, 2007 at 3:34 pm

    Fact about Maydaisy
    1) Started November 2006
    2) Original Name was changed to Maydaisy when they went web based in July2007
    3) Before that time all referral, account statement,application,placement,withdrawal where done by email.
    4) Money was sent by bank draft
    5) The person that runs Maydaisy is woman
    6) She resides in another small island other jamaica

    Can not confirm if she trades or has a trader trading for her

  451. TheOne said,

    November 19, 2007 at 3:40 pm

    From what I know MayDaisy isn’t US based (a trusted church sister works with them and told me so).

    Since little is known about them, many bloggers are becoming almost paranoid. In time you’ll know all you need to. Consider the delay deliberate or providential.

    Anyway, what’s the rush? Never be in a hurry to invest ur money.

    Wait.
    Watch.
    Then wager.

  452. DH said,

    November 19, 2007 at 3:42 pm

    7) Maydaisy originated out of jamaica and there is still a office in here, you can send queries, bank drafts in which it is then forwarded to Maydaisy in the (little) small island

  453. PoorRiskTeka said,

    November 19, 2007 at 4:24 pm

    Finally little tid-bits are being revealed about the somewhat elusive MayDaisy.. I may be on to something more, I’ll let you all know how it turns out…

  454. PoorRiskTaker said,

    November 19, 2007 at 4:44 pm

    .

  455. AD' said,

    November 19, 2007 at 4:50 pm

    DH I’ am not a member of May Daisy. I was just doing my own research online and wanted to share my findings.

    Hope this clears things up.

    #440 MR. Yardman I was not posting nonsense I was reading based on their registered information online. If you have the facts by all means…. please share with your fellow bloggers. As I said in my previous post I am not trying to discredit anybody I ‘am SIMPLY doing my own research.

    Regards
    AD’

  456. kirk said,

    November 19, 2007 at 5:22 pm

    Can someone give me a referral to capitalhill fx, I can be contacted at kirkdoug83@yahoo.com

  457. Sammy said,

    November 19, 2007 at 6:09 pm

    Higgins Warner started a scheme a few years ago and left alot of people without their money. He went missing abroad with noc contact and emails were sent for all over the world of people trying to trace him for their funds.

  458. Michael said,

    November 19, 2007 at 7:23 pm

    Hey guys, this is a fab website. Whoever thought of it- kudos to yah!
    Well my take on stuff is that the Jamaican people have been taken for a ride for ‘God knows how long’ and they are simply looking for a break. In scenarios like that people can be exploited. If Mr. Hill of Cash fame (or notoriety – depending on how you look at it) is doing the right stuff for people then the banks can go jump in the lake! but…if their concern is legit’ then ….ooops will be an understatement of the century if a calamity occurs. I like risky investmnts and the correspondingly high ROI. Hey, the world has found creative lucrative ways to enrich us earthlings. I have been checking around and the landscape is colorfully checkered with all sorts of players.
    I am with the Achievers Union which is now a affiliate of CAREIF, the real estate investment company, and they have been doing pretty good with the small investor cioncept of the ‘Membership Club’ program. You pay US $159.00 for lifetime membership and you get well over 100 e-books which cover topics from health, forex trading, how to make money on the internet, setting up your own website and company and a host of other interesting vital topics. The ebooks by themselves are worth tons more and the information invaluable. But an added benefit is that you get forthnightly commissions of US $50 for referring other signees to the club. Now the network marketing makes the return on this 159.00 very well worth it indeed. There are persons who have made close to and over a million JA already. When you sign up you get your own website that tracks everyone who signs under your network so the process is transparent. You can advertise in the papers, magazines, any darn place that’s worthwhile…and they have weekly presentations in New Kingston etc., If anyone ones to check it out go to http://www.us2jm.com/success4me; thats my weblink… or at my yahoo email and I’d be happy to give more info. CAREIF also has real estate related investment opportunities that are very attractive. They have some posh developments that are planned for the Hip strip and St. Thomas…I’m talking about reeeaaaalll posh…you can save toward owning one of them…when you sign up with the Achievers Union Grp. you can also upgrade your membership to the Real Estate Investment Club (RIC. In this club you pay US1,120.00 and every 3 years there is a lump sum payment of US$5,400 to you. You can also make additional payments if your a heavy investor in their debt funding prgm. It is level-headed investing as far as we do it! so check it out. If you invest 1 million you get 10 million in three years….and so on and so on. the web site is careif.com…call me anytime

  459. babymama said,

    November 19, 2007 at 7:49 pm

    dear fellow bloggers in need some help i have invested in cash plus and they use to put the cheque in my scotia account now they are not doing it anymore how do i get my money? i used the Mobay branch but both there numbers are constantly busy what do i do?

  460. Jcan said,

    November 19, 2007 at 8:19 pm

    Hi to all the Investors and the will be soon

    Re Capital Hill…Research re ecoming a memer
    This information is well guarded among its members. Part of being a member requires you to sign and fax to a contract that disallows members to advertise, boast or even promote the Club’s business. Percentage data shown on the site is the only hint as to details concerting club member privilege.

    As a result of recent aggressiveness on the part of many government bodies, banks and some investment institutions, they have been forced to keep club relatively small and very exclusive. catering is for persons who are willing to move away from conventional institutions who, in club members opinions, continue to give their clients, less than acceptable returns on their hard earned money.

    The club has a private minimum contribution . However, based on special considerations, they have been known to accept deposits well below theminimum of US$300K. It must be noted that meeting the minimum investment is NOT the only criteria to be a member of Capital Hill FX.

    ‘”Club membership acceptance is on a per application basis and we reserve the right to deny or cancel any application or membership, as we the Club sees fit, regardless of investment size or length of time a member is a part of the Club. We have regrettably in the past cancelled memberships (with full refund) deemed to be a potential threat to the privacy, and security of this Club.”HENCE THE RELUCTANCE OF CLUB MEMERS TO GIVE OUT INFORMATION…….PLEASE READ BETWEEN THE LINE OF A FELLOW CLUB MEMER ON THE OLD BLOG SITE HOW SHE BECAME A MEMBER! BEST REGARDS…

  461. Jcan said,

    November 19, 2007 at 8:43 pm

    Having problems with my “B” so forgive the poor spelling aove

  462. Madmag said,

    November 19, 2007 at 8:57 pm

    Jcan,

    What is the minimum investment? Is Capital Hill based here in Jamaica? How can i get a referral

  463. Jcan said,

    November 19, 2007 at 9:18 pm

    Madmag,
    Capital hill is outside Ja, Traders are from different areas around the globe such as UK, Argentina etc. Their business address is out of Panama.

    Please re-read the Blog posted at the end or very close to the end on the old slow moving or should I say the original Powerful investment tips maximizing … page about capital hill. Some new member explained how she became aware/member of this club.

    Best Regards

  464. alicia said,

    November 19, 2007 at 9:28 pm

    To babymama. BNS is holding the cash plus cheques for 15 days before it is posted to your account so I advise you to check with the bank. Other investors that I know have been receiving their cheques with no problems, so don’t start to panic just yet.

  465. Jcan said,

    November 19, 2007 at 9:43 pm

    Re minimum investment….

    The club has a private minimum contribution . However, based on special considerations, they have been known to accept deposits well below theminimum of US$300K. It must be noted that meeting the minimum investment is NOT the only criteria to be a member of Capital Hill FX.

    I too started more than a year ago below the minimum, my money was sent to the smallest bank, (different banks, less than US 40K, Greater than 40K to 150 etc. However, “compounding is extremely powerful” I am now reflecting whatever the monthly gains that is posted on the website!

    Re Referral…..Again, please read BETWEEN THE LINES of a NEW member on the slow moving “powerful investment tips….site……..

    Best Regards

  466. Jcan said,

    November 19, 2007 at 10:27 pm

    PLEASE READ BETWEEN THE LINE OF Careful Carol BLOGG #1112,
    November 16, 2007 at 1:48 am

    I found this website here by doing some searching on the internet for capitalhillfx, capital hill fx, capitalhillfxclubs, capital hill, and capital hill fx clubs, this is the only place I have actually seen anything for several months,

  467. chillin said,

    November 19, 2007 at 11:15 pm

    jcan i applied for membership to capital hillfx and i used dummy referal, they called me and eventually gaave me a refereal, i have used to sign up buthave not followed up, since i am not sure if they are for eal, they will accept less than the reqired amount but interest will be 5% lees

  468. JSM said,

    November 20, 2007 at 1:23 am

    IN RESPONSE TO DW COMMENT # 298. 25% of 152% is 114% not 127%

  469. DW said,

    November 20, 2007 at 1:36 am

    Thanks for correction,still come out AHEAD.

  470. JK said,

    November 20, 2007 at 2:58 am

    yall need to register an chat more on highyieldsource.com very informative site created by a friend of mine…… we can chat more here and it is categorized to help find info directly on clubs become members…….

  471. JK said,

    November 20, 2007 at 3:01 am

    jus click on JK ……..my name on the site is rude boy roy…….

    another thing i find is that things are very quiet with regaurds to Worldwise…..i mean i havent pulled any money but i wouldnt mind hearing from ppl who have pulled or if u encountered any other problems……only problem i been hearing of late has been the acceptance of cash at Rbtt mentioned here an the waiting periods in office an parking……so is it safe to say all is well?

  472. Jcan said,

    November 20, 2007 at 9:42 am

    Re CASH+ LONGEVITY:

    I read somewhere that Mr Hill stated that he is not into forex. It is not too late for him to get involve. He too needs to add forex to his business financial potfolio if he has not already done so.

    For the sake of all the poor Jamaicans whose financil cause he is championing and who have risked everything to come up with the $100k. I would be greatly relieved if forex is a part of his portfolio.

    I am also aware that if forex was not mentioned in his business action plan, he cannot officially broadcast to the world at this late stage that it is part of his business pla. However, that does not mean that he cannot personally enter. There must be a loop hole that he can go around. My business majors investors would be better able to comment and make suggestions on this site to Mr Hill.

    Although not an investor with cash plus I have friends who are a part of it. So for cash+ to overcome the uphill battle and the raging all out war that is to come with the financial sector in Ja, forex must play a part of its survival. OLINT outlast their ignorance, for that I am so thankful and I am wishiing the same for cash+.

  473. Michael said,

    November 20, 2007 at 9:57 am

    The topic of referal has come up many times and people have strong opinions for or against freely refering someone you don’t really know to clubs. In some cases people refer because they receive a fee and some because of there free spirited nature. When you refer someone to a club you shoud absolutely know all the facts about the club and you should definitely know the person.Companies have been paying referal fees for a long time,it’s a easy way of finding quality leads and it’s more cost effective than advertising, but I caution you don’t just do it for the money it’s really not worth your reputation and good name. I’m in HW (CP AND OLINT) ,I heard about it from a friend but also did my own research and found the HW web site which doesn’t provide much information on anything. Although when you send an e-mail you do get contact info.I also found this blog and got information here ,I was even offered a referal which I declined. I’ve noticed for the last 3-4 weeks or so with all the problems with HW no response from all the people whom were so eager to make referals. I would not refer anyone from this blog to any club I would share all the facts that I know and possibly the sources if I can. Some of the bloggers have developed a close relationship or friendship if you will and may feel ok refering that person. Life experience has taught me alot, never to refer the unknown ,to respect others opinion, responsibility ,self-control,tolerance and kindness .

  474. Jcan said,

    November 20, 2007 at 10:23 am

    Re # 460 Chillin,

    Yes they are for real! They not only get you to the millions, but advice you and guide you how to keep it!

    What you think is fake they might see as someone willing to go this distance to enter …Sometimes our native accent and where we are from lower the minimum ecause this suggests to these investors that this person from this particular country is someone who really needs this financial help.

    When I entered, OLINT has opened my eyes to believe that forex is not a scam, and if he one person can give 10%, then a group of traders can give you an average of 26% (approx what capital hill has done for 2007 so far)

    I feel real blessed to be a part of these traders, all this happened because I started with OLINT and was made financially free to spread my wings.

  475. Anthony said,

    November 20, 2007 at 10:46 am

    Hi guys
    Well I went to cash p Premier Plaza and it seems to me that with all the confusion things are finally settling down. From earlier reports I had thought that the crowd outside meant that inside was full and running over but found out that what the security had implemented was to have ppl join a line outside and let them in on a timely basis thus reducing the confusion on the inside. I can only speak for when I went but this seems to have worked.
    I must say a lot of glitches needs to be ironed out though re concerns of members but I would not blame cash p solely as there r definitely forces out there using every trick in the book to cause a wide scale panic.
    What I have picked up from some members though is that this is the best thing since slice bread and cash p have to lock down with them money. It goes to show that ppl have longed for this opportunity to have their money do some of the work.
    Well I continue to find this site very informative and will also implore the new comers who have or intend to venture to spread the risk and remember high risk ventures after the first 6 to 8 months becomes less risky if you install a proper contingency plan and have the discipline to stick by same.
    Best of luck to all.
    By the way where is Pound he is missing from the party and I miss his comments as I did learn a thing or two and have since implemented them.

  476. Rich D. said,

    November 20, 2007 at 12:00 pm

    chillin said,
    November 19, 2007 at 11:15 pm

    jcan i applied for membership to capital hillfx and i used dummy referal, they called me and eventually gaave me a refereal, i have used to sign up buthave not followed up, since i am not sure if they are for eal, they will accept less than the reqired amount but interest will be 5% lees

    CHILLIN – CAN YOU SEND ME A REFERRAL TO CAPITAL HILLFX. THANKS IN ADVANCE.

  477. Rich D. said,

    November 20, 2007 at 12:00 pm

    CHILLIN – MY EMAIL IS HAGA147@YAHOO.COM

  478. Charlibabe said,

    November 20, 2007 at 12:06 pm

    #466 Michael

    Can you please provide me with some information about Achievers Union?

    please e-mail me at ggray47@gmail.com

    Thanks.

  479. gary said,

    November 20, 2007 at 12:58 pm

    Hello Chillin: Can you send me a referral to capital Hill fx. How long have you been with them? My email is: Arrita72@yahoo.com

    Thank you.

  480. MADMAG said,

    November 20, 2007 at 1:10 pm

    # 466

    Agree with you 100%. I too am not willing to refer anyone i do not know. This blog is used to share info..thats it, how can you ask for a referral from someone you do not know. Also i hear from good source that there are spies among us gathering information for the FSC and government agencies.

  481. Rich D. said,

    November 20, 2007 at 1:23 pm

    I thought the purpose of this blog was not only to share info but to also spread the welth among our fellow Jamaicans. I am a member of both OLINT and A3 union and will be more than happy to refer any indovidual, after building a relationship ofcource. How can we build a relationship? you ask! Well by communication through email and once i’m comfortable with that individual then yes i would refer someone from this or any other blog. I have build many relationship since i first start visiting this blog. I have exchange phone numbers with alot of my fellow bloggers that i talk to on a regular basis. I hate when people come on here and saying they would not refer someone they do not know. Plesae guys build relationships and let us all maximise our wealth. I believe that’s what the intent of this blog is or is it not? Plesae someone tell me!

  482. Joelle Clayton said,

    November 20, 2007 at 1:53 pm

    I agreee wid u Rich D, we haffi speard the wealth… but i guess some people can’t let go off the “CRAB INNA BARREL” mentality and that is y the rich have always been able to stay rich and keep the poor poor. There are clubs i am in that are VER EXCLUSIVE and i haven’t even seen them mentioned on this or any of the other blogs i visit. However the clubs such as Cash plus and Olint i give people referral i don’t even know. why? these clus will check to ensure the money’s coming from ligit sources… Come on people share the wealth, if i allow u to benefit that does not stop me from benefitting and i’m looking out for poor jamaicans like myself. finishing up my econ degree in Dec @ UWI hopefully i’ll be able to change the way Jamaican relate to each other to make it hard for people to divide and conqure.

  483. Don Giovanni said,

    November 20, 2007 at 2:14 pm

    agrees with #466.
    As far as building relationships, lets be real.. who builds relationships online, beside adultfinder.com??

    A social group like hi5 or facebook would be better suited for that. Setup a private group and know who’s who.. build virtual relationships, etc

  484. redwood DIST said,

    November 20, 2007 at 2:18 pm

    any new info an zoom accounting any one herd of them

  485. redwood DIST said,

    November 20, 2007 at 2:21 pm

    his they real

  486. Yardman said,

    November 20, 2007 at 2:34 pm

    EXCELLENT LETTER OF THE DAY – Do financial gurus really worry about the poor?
    published: Tuesday | November 20, 2007 / Daily Gleaner

    THE EDITOR, Sir:

    As I and the Jamaican public are bombarded by the media, Financial Services Commission, the Tax Administration Department, a consortium of financial leaders and the rumour mill about the pending doom of Cash Plus, Olint and other high-interest financial institutions and warning us to beware of investing in these institutions, I was heartened by the new surge of social conscience in big business, the media and various government organisations in protecting the poor.

    However, in reading and analysing some recent financial developments worldwide, this feeling of euphoria about this great interest in the welfare of the poor is slowly waning.

    a) The four largest banks have reported substantial decrease in the last-quarter profits and have stepped up the harassment of these institutions. The harassment includes threats against their employees who participate in these schemes, to reviewing long-standing clients of the banks overdraft facilities after they participate in these schemes.

    b) Threats of closure of these institutions accounts held at these banks and making their normal banking arrangements as difficult as possible.

    c) Some of these well-established institutions instituting schemes with interest rate as high as 62 per cent per annum on foreign exchange dealings.

    The above makes me reach the conclusion that these established financial institutions are acting in self-interest instead of concern for the welfare of the poor, as they see their pool of low-interest money being significantly reduced.

    If these institutions are interested in the welfare of the poor, why are not more ads in the papers about loans for micro business financing instead of all these ads about car loan schemes and new credit cards to fuel spending on consumer goods? Also why are the banks not instituting new schemes that their junior employees and ancillary staff can get low-interest loans for housing and education at the same time that they are threatening them with dismissal for joining the high-interest schemes?

    Even if my above analysis is flawed, the almost deadly silence from these same groups about the worldwide financial crisis caused by the collapse of the subprime mortgage scheme in the United States is the dead giveaway that they are acting in self-interest and not in concern for the poor.

    Event of bankruptcy

    Here is an event that brought Northern Rock Bank in the U.S. to almost bankruptcy, and caused a US$8 billion loss to Merrill Lynch in the U.S. and there are no serious sustained, public discussions on this phenomenon by the financial gurus and these well-established financial institutions.

    In Jamaica the cost of housing and other real estate has almost doubled in the past eight years. The real estate market is booming and fetching unprecedented prices financed by banks and building societies (which have poor people’s money at low interest), and our mortgage rates are about three times those that exist in the U.S.

    If there was to be a correction in the value of real estate that precipitates any serious default on mortgage in Jamaica, would not the financial crisis caused by this be more than tenfold any fall-out in Olint and Cash Plus would cause? Remember that it took only a 20 per cent mortgage default in the U.S. to precipitate a over US$200 billion worldwide financial crisis.

    We need to hear from the financial gurus and leaders what proactive things that are being done to protect the mortgage institutions in Jamaica from this crisis on the horizon, if they have anytime left after bashing Olint, Cash Plus, World Wise, etc.

  487. Rich D. said,

    November 20, 2007 at 2:39 pm

    Don Giovanni said,
    November 20, 2007 at 2:14 pm

    agrees with #466.
    As far as building relationships, lets be real.. who builds relationships online, beside adultfinder.com??

    A social group like hi5 or facebook would be better suited for that. Setup a private group and know who’s who.. build virtual relationships, etc
    ————–

    You have already taken the first step in building relationships by joining this blog. Who builds relationships online? I don’t know, YOU!… Social groups. This is a social group! Unreal!!!

  488. Concerned said,

    November 20, 2007 at 4:02 pm

    I must say that i agree with Rich D on point made at 480 and Joelle Clayton at # 475. People build relationships through interaction physical or online, back in the day people had penpals and that was making friend through the regular slow postal system but it was a means to build a relationship none the less.

    In reference to what Joelle Said at #475, it appears that people are using the references as some sort of exclusive ticket to exclude others. This has been done all through out history its called prejudice. There are no diminishing returns to be had from referencing people to these clubs,and was’nt the reason referening was instituted.

    The referencing was only instituted buy these clubs as a means of ensuring that the persons that you would have to deal with already knew what they were getting into before actually meeting you, and that the person was of a particular risk propensity . It was also a nice way to informally advertise.

    Just to get it out there as a forerunner in this business i can tell you that not everyone that i got a reference for i was willing to take on but id always thank the referee and make both parties aware of my reason for a decline.

    Now that these clubs have become so popular i dont think there is any one here that is not aware of the risk, involved with any of these clubs, and as most if not all of these clubs only accept managers that risk to them would be alleviated because all there source of funds are directly linked to the bank’s internal controls keeping them relatively safe.

    My point is simply this, if you are comfortable with a club then you should’nt have a problem referencing it club owners dont want you to send e-mail to everyone you know but organic growth is good and forums like these provide the clubs the means for organic growth and good information dissemination.

    blessings to all.

  489. PoorRiskTaker said,

    November 20, 2007 at 4:08 pm

    Well written lettter, dont it Yardman..

  490. Rich D. said,

    November 20, 2007 at 4:42 pm

    It appears some of us on here are claiming to be members of exclusive clubs. If that’s true then you should also know that before you can become a member of any exclusive investment clubs there are certain requirements requested by the club before one can become a member. I have one question for all the “haters”. How does it deter you from making money by inviting me me to your “exclusive” club?

  491. kirk said,

    November 20, 2007 at 5:09 pm

    How many countries is olint in

  492. Mr. Skeptic said,

    November 20, 2007 at 5:47 pm

    Re#464
    A friend of mine wired some funds to WW and the wire “bounced” . When he called WW they told him that the jamaican gov is currently blocking all wire transfers to WW and subequently he has to fed ex his funding. A month ago he wired his initial sum and all was good, now gov problems. It is overly obvious that the fininancial sector is feeling the pinch and are trying there olint tactics to create panic! But I purchased a vehicle last yr & this yr it has devalued by almost 100k. look how easily i lost 100k. We risk everyday and win & loose so remain Skeptic and keep ur ears to the ground!!!!!! Peace up!

  493. vybzblack said,

    November 20, 2007 at 5:56 pm

    I always read this site in the morning before i go to work and when i’m back from work, great site very informative and all you bloggers are doing a great job keeping this site alive and interesting.also keeping everyone inform with all the investment clubs.I’m a member of cash+ and ww and I’m happy for this site. keep me abreast of what’s going on back home.
    post #474 Rich D and #475 Joelle C big up an nuff respect. I’m in full agreement with you guys. I work at an private gulf country club in florida seasonally, where there are only rich people and these guys only socialize with the rich and these guys look out for each other,make suggestions on the stock market and other business ventures. why is it we the poor man when we see a way out we don’t try to help some one along the way. Help some one along the way and your living shall not be invain. This is a great chance for us guys, a long time we a work hard and a give the big man our money to invest for us with little returns on our money making them richer and richer.long time them a enjoy the fruit of our hard labour, live in a mansion ,cruise on the most luxury ships and hotels ,drink dom perignon, have lobster and fillet mignon and enjoy life to its fullest. Poor people lets wise up and desern the time. Lets HELP EACH OTHER.

  494. DR said,

    November 20, 2007 at 6:11 pm

    People….read between the lines…..Whatever clubs are aligned to the political party in opposition: That club will always be in trouble…..(with the government of the day).

    Who has ears to ears, let them hear. I wish I come come out loud and clear but I can’t – - – not sure who ‘else’ is reading this blog.

  495. Marie said,

    November 20, 2007 at 6:13 pm

    I recently attempted to join WW by sending a wire transfer to them, after viewing my account (which was created online and never confirmed) I called WW to inquire. They assured me that the money takes some time to be credited to my account however, I would be paid the interest from the date posted from the bank. A few days after my bank in the US contacted me that the wire transfer was returned.

    The money came back short $20 not to mention the $50 that I paid my bank to do the international wire transfer. I am still unable to get a sensible reason as to why the wire was returned, the bank in the US states that the account number that I provided them is invalid. Please note this account number was confired by WW via telephone at least three times prior to sending off the money and after. Someone informed me that WW is no longer accepting wire transfers. Does anyone have any information on this? What is really happening, I am still interested in joining.

    Thanks and keep the post coming, very interesting.

  496. MADMAG said,

    November 20, 2007 at 6:27 pm

    Rich D,

    Why are you being so ‘bullish’. This is a open blog where persons are free to voice their opinion about varies topics being discussed. That is what freedom of speech is about. Lets not get too personal here.

    Keep the good vibes going.

  497. zoff said,

    November 20, 2007 at 7:45 pm

    Rich D, Have you ever withdrawn $500 from a3union and receive it. I read that persons are not getting their funds.

  498. Rich D said,

    November 20, 2007 at 8:30 pm

    Zoff, Yes i have withdrawn five hundred and more from my account. I’ve been with them a little over a year and i’m yet to have an issue.

  499. zoff said,

    November 20, 2007 at 8:36 pm

    Rich D, did you withdraw via e-gold or e-bullion.I invest using e-gold.

  500. Rich D said,

    November 20, 2007 at 8:38 pm

    MADMAG, I wanted to apologize if i came across somewhat harsh. It was not my intention to insult you or any other blogger here. I admit, yes i could have been less “Bullish” in my earlier posts. I hope you can understand my frustration when i see all the negative posts from bloggers such as yourself. As i recall it this use to be a blog of willingness to help each other achive the ultimate goal, financial independence that is. There i go again assuming. your goal might be something else complete different of that of mine or others. Let me quit while i’m ahead before i insult someone else.

  501. Rich D said,

    November 20, 2007 at 8:39 pm

    neither, Debit master card

  502. zoff said,

    November 20, 2007 at 8:43 pm

    Rich D, thank you.

  503. Patricia said,

    November 20, 2007 at 8:53 pm

    With all the problems these clubs/programs having with the b…ks, why dont they move their accounts off-shore???….don’t get it…And why are we still on the issue of referrals???…those who are comfortable giving referrals will continue to do so, those who dont… well..just wont!!…Life goes on……

    Vybzblack is quite correct, the rich look out for each other, regardless of the social circle they are in, and how they interface, that is whether personally or yes even online!!! I have worked with people online…long before even meeting them, some I haven’t, but that did not stop me, because that’s part of the new age we’re in…this forum is in fact a social networking tool, We are a group of various persons of varying backgrounds/circumstances, who perhaps wouldn’t give each other the time of day, in the “real” world, but here we are giving info, and even “ADVICE”, Many feel connected in one way or the other to various bloggers, and keep visiting to see what’s going on.

    It’s a shame that the cohesion is being threatened by the feelings/views of a few……One of the things I love about us as Jamaicans is our resilience and determination to succeed, no matter what….so if we dont get a certain referral, it does mean we wont realise our goals….so everyone lets just continue the good vibes an’ chill…Christmas is coming ..be good, be vigilant, be safe AND btw, I just learned to do the soldier boy dance..hahaha..I’m a twit eh??

  504. Hope said,

    November 20, 2007 at 9:53 pm

    Anybody here a memeber of Minvestments and have you received your money after the 150 days. Let me know please

    Thanks

  505. DG said,

    November 20, 2007 at 10:26 pm

    #488 – Marie, I went to WW today. The person who I spoke to said that the bank (whose name they removed from the website at the request of the bank) was no longer accepting international drafts on their behalf. Also, locals can no longer deposit cash in their accounts – manager’s cheque is now the payment method of choice. He told me that he really did not understand why this was happening as the reason that he was given did not make any sense (ie. possible money laundering). However, it is within their intentions to use an off-shore bank in the future. Do you have anyone in JA that you can trust to make the deposit for you?

  506. Patricia said,

    November 20, 2007 at 10:41 pm

    Marie, If you have no one to do the deposit, you could send it by Fed Ex

  507. Jane Doe said,

    November 20, 2007 at 10:51 pm

    Minvestment is a well-run ponzi scheme which will soon be history. Just ask some good questions via their live chat and you will be amazed at the crap they throw at you. For instance, I asked how it was possible for them to pay me $1934 after about 7 months from a mere $20 deposit. The guy simply said “We trade the money”. Also I asked about this since 2000 thing and “Stephen” said they have been operating since 2000 but only came online in April 07. I spoke to another rep. a few days later and he said Stephen must have made a mistake because they have been online since 2000. LOL! I got several other ridiculous answers but I cannot bother to go through them all. BTW their English aint so good for “professionals”. Saying stuff like “We not scam”. Anyway I was told that the first progressive compounding plans will be maturing in December. How much longer guys? January? February? next week? LOL

  508. Carl said,

    November 20, 2007 at 10:59 pm

    Patricia,
    thanks for your usual timely dose of sobriety . We all need this at times.

    To my fellow bloggers:

    As I have said before IF YOU CANT SLEEP AT NIGHTS BECAUSE YOU HAVE INVESTED IN THESE CLUBS THEN you may want to consider taking your money out and lower your BP.

    Some of us are risk tolerant and some are risk aversive. These clubs are not for the risk aversive. Like the stock market you have to know when to buy, when to hold and when to sell. I have had problems with HW but I wasnt worried about my investment because they are still operating and I know where to find them, unlike the ones that are soley internet based. Not saying that those dont have merit but I personally prefer to talk to live people in a building with an address and so on. And preferably in a country where we speak the same language . That’s just my preference, hence my support for CP and some what HW.

    Don’t know much about W.W. to give an opinion, Even though I have friends who are members of W.W.

    I am also a member of a Canadian based one as well , Called Prosperex. they were so overwhelmed with members when they started this year , that they stopped taking new members for now. The difference with them though is that they indirectly provide leverag ie. lend us the money to invest at very, very low rates. (If you want) They promised a 20% per month returns but as far as I know the returns are less than that Approximately 14% I understand . I am in the annual plan so I wont know what I earned until the plan matures next year . But my friends who are in the monthly plan have been collecting. Another thing, they pay in arrears. ie. they pay 60 days after the initial investment (for those in the monthly plan) unlike most others.

    They also charge a very high fee for members to participate. But it is said that membership has it previliages according to one famous ad. so I guess I will see my previlages next year.

    We can help each other by passing on info. that are legit. But let’s be positive. Of course if there is an ominous situation on the horizion we would all like to know. All of these clubs have helped us to see our true invesment potential not just in Forex trading but in other possibilities such as stocks and other internet related ventures. It’s up to us to diversify. In six months we can all double our money in almost all of these clubs if we roll, and 10 months if we take off monthly so its not too bad. Before you know it, six months would have come and gone and we will all be able to breath eaiser (those who are in for less than 6-10 months that is)
    Peace & Love!

  509. Kevin2 said,

    November 20, 2007 at 11:19 pm

    Carl,

    I am not sure I follow how you make the returns on Prosperex. They lend you the funds? Also do they have a website and where in Cda are they?

  510. Kollage Kid said,

    November 20, 2007 at 11:31 pm

    Hey everyone

    All this is so new to me, I am a final year 19yr old tertiary student in Kingston and hearing all this talk about investment represents a side of Jamaica, directly anti-typical of where i am from. I dont have US $1000 lying around, neither do my parents, cause they spend every dry cent to send me to school. I’m asking therefore, how does a kid like myself who is willing to risk whatever little he can come up with so that he can start out in the game of making money work for me, do? I see there are plenty website that offer crazy returns on small sums. What is the best way to get started, can I ?

  511. Carl said,

    November 20, 2007 at 11:32 pm

    Yes Kevin2!
    they lend you the funds. It’s called leverage. Rich people have been using this type of investment for years. The website is still not running live as yet. One has to go into the office at Lawerance East. But as I said they are not taking on new clients at this time. They also pay referal fees. The address is 1315 Lawerence avenue East Unit 404 (416)447-5000 thats how you know the good ones from the bad. If you are poor you can still join this club due to the leverage that they provide. So if you borrow $2000 for instance and roll it for a year the returns will be somewhere around 24,000 if the 5% promised per month materalize . You can eaisly pay back the $2000 and you are on your way to some financial freedom.

  512. Carl said,

    November 20, 2007 at 11:36 pm

    that should have read 5% per week sorry for the typo

  513. Carl said,

    November 20, 2007 at 11:43 pm

    Kollage Kid,
    here is what you do pool what little you have with your friends and take it to one of these clubs and let it roll for 6 months compound interest and then share the procedes , after that each of you can invest independently. I believe WW takes as low as US$300.00 I am not a member so you may want to verify this, the interest is also lower on amonuts less than US$1500 .

  514. Patricia said,

    November 20, 2007 at 11:55 pm

    Carl, I read one of your earlier posts where you mentioned being invited to an investment meeting with some developers….and they usually dont accept less than 100k, so I guess you were one of the big boys in line at One Bloor last week too…..Ofcourse I’m just faasing wid yuh ‘ere now .

    I will call that Prosperex Tel#…thanks for that info…….using their $ to fund the investment is good as I also believe in using other people’s money to make $$, and after all there’s a tax benefit, even if small.

  515. Carl said,

    November 21, 2007 at 12:12 am

    No Patricia “It wasn’t me ”
    If I had that “breed a money ” I wouldn’t need any club, based on the ideas and plans that I have.

  516. JK said,

    November 21, 2007 at 12:54 am

    jus read on another site that WW will be ‘upping the ante’ any one heard of this

  517. JK said,

    November 21, 2007 at 1:08 am

    kollegekid i would recommend u join WW as it doesnt require the 100k to go in ……granted u will only be making 6% but thats more than a bank same way

  518. DR said,

    November 21, 2007 at 5:46 am

    JK #509

    What do you mean by ‘upping the ante’? Do you mean that they will be increasing the initial amount from $1500 or do you mean they will be “upping” the interest rate from 12%?

    Of course I would prefer the latter…..hahah hahhaaha

  519. redwood DIST said,

    November 21, 2007 at 6:53 am

    pat u know any thing about zoom accountimg it seem u have alat of info man we love u for that

  520. redwood DIST said,

    November 21, 2007 at 6:53 am

    i love to read what u say

  521. Joelle Clayton said,

    November 21, 2007 at 8:00 am

    Look what’s happening now!!! VMBS offering savings account of 12% per year…. WAY above the “norm” for them!

    The Victoria Mutual Building Society (VMBS) has introduced a high-interest-saving product called iSave which it underscores is not only more competitive but also a saf on the market to build wealth.

    The product is offered through the regular VMBS saving facility and gives members the opportunity to earn interest rates of 12 per cent per annum on a minimum of $10,000 saved every month or a total minimum of $120,000 saved per annum. Interest is calculated daily.

    ISave was launched on Sunday and became available on Monday of this week.

    ‘New VMBS’

    “We are offering the product through communication of standing order or salary deduction,” said VMBS’ senior vice-president of group marketing and corporate affairs, Michelle Wilson-Reynolds.

    While the product’s returns fail to match the six to 18 per cent per month on offer by high-yield unregulated investment schemes, Wednesday Business checks show that VMBS’s annual 12 per cent interest rate is on average, 2.5 per cent to three per cent higher than those offered by the money market institutions.

    “Our customers are saying we need help to save,” said Wilson-Reynolds.

    The company also intends to launch a foreign exchange component of iSave, giving members the option of saving in sterling, Canadian or U.S. currencies.

    “This is a new VMBS,” said Wilson-Reynolds.

    Guaranteed and safe

    She said the 12 per cent interest was guaranteed and safe. The member also has the option to contract to save more than $10,000 per month.

    The interest rate applications compare favourably with banks who often calculate their annual interests on savings accounts on a quarterly basis using the minimum monthly total in the account on which to make calculations.

    Reynolds said the 12 per cent rate would remain on offer as long as it stayed competitive.

    “We are targeting new accounts from existing customers and we anticipate new accounts from new members,” she said.

    Feasible product

    In response to question of how the society could afford such rates when interest rates on savings instruments in the formal economy were trending down, Wilson-Reynolds said market research showed that the product was feasible.

    “It can be offered on share loans for cars, education or even home improvement and the pay back interest rate would be 16 per cent which is competitive considering consumer loan rates,” she said.

  522. Joelle Clayton said,

    November 21, 2007 at 8:01 am

    Taken from http://www.jamaica-gleaner.com/gleaner/20071121/business/business5.html

  523. Joelle Clayton said,

    November 21, 2007 at 8:08 am

    Now this is NEW and GOOD for Jamaica it cannot compare to “the six to 18 per cent per month on offer by high-yield unregulated investment schemes” but at least it’s a START…. What do u think will happen now? Maybe JN will be forced to come up with a saving product that yields 15% per yr and then the competition continues until we are able to reach “the six to 18 per cent per month on offer by high-yield unregulated investment schemes”…. Yes people life is good and getting better just hang tight and watch the market!

  524. Patricia said,

    November 21, 2007 at 10:05 am

    Sorry Redwood, I dont know anything about Zoom.

    KollageKid, welcome …great to see a young one here…just by thinking about wealth creation and actively seeking info, puts you ahead of the curve….now you dont need to start with a lot…you have time on your side, so add patience and prudence to the equation. Read Andre’s page on Residual Income-5 ways to earn extra cash, that should give you some ideas on how to earn $$$. From your earnings put aside some for investment purposes…..once you have the minimum for say WW then join, let in rollover for at least 6 months b/4 taking anything out.

    Also visit the everything forex page in this Blog, and start reading all you can on fx trading….learn to trade, your brain is young, take advantage of that…….there are guys at Utech big in fx trading, ask around, find that crowd and get involved. Hold off on all bling related items, so that you can starting investing for your future…Blinging out doesn’t mean you are rich. It may just mean you are a mindless consumer. Get a copy of Rich Dad Poor Dad and read it every word of it.

  525. JK said,

    November 21, 2007 at 10:13 am

    DR i jus read that they will making their customers real happy …..cant confirm as yet tho

  526. Patricia said,

    November 21, 2007 at 11:03 am

    I believe there are a few of us in here from the true north strong and free, and in the Tdot.

    So further to #501’s info, that club is still taking a few new members, at their discretion. The minimum investment is $5000CDN, they invest in FX, and there is a membership fee of $200. You also need to be reffered. I told them I learnt about them online, and I spoke with a very patient and helpful gentleman who willingly answered all my questions. They have a monthly and annual plan. Interest is compounded weekly, and the returns they say are around 11-12% per month. They will not fax you a form though, so you would have to go in to them. Again the # and address is on this page at 501.

  527. DB said,

    November 21, 2007 at 12:01 pm

    Can someone give me a referral to capitalhillfx clubs. My e-mail address is riobell2007@gmail.com. Thanks.

  528. Michael said,

    November 21, 2007 at 12:08 pm

    KOLLAGE KID- It’s good that at you want to get into the fray with investment opportunites. The world has changed and is still evolving. The days of putting money into banks for low-rate returns is long gone! If you want a way to make residual income consider Achievers Union. You don’t have to pay US1000 all you need to pay to be a member is US159.00! You get acces to over a hundred e-books that provide info on a lot of money making program and lifestyle enhancing. It shows you how to build your own website and even how to trade online. Kollage Kid why not be the envy of your friends and go ahead and start offering your services (for a charge of course) to design and build their websites??!! Also, bear in mind that when you successfully refer other you get a US cash payment of $50 and you are therefore able to build your own network ’cause everyone that your referrals sign up to also get money from them as well. Believe me it works and there are persons who have signed on for over two years…so it aint no scam. You have to be referred though. If you are interested check out this link http://www.us2jm.com/success4me. or email me at mike_4bizniz@yahoo.com
    take care

  529. Anthony said,

    November 21, 2007 at 12:12 pm

    Re wwise upping the ante,
    An employee had hinted same to me recently however at the time he made mention that they wwise r more interested in finding an alternative banking solution re the difficulty institutions like them were experiencing dealing with particular banks. I guess it is just a matter of time before they do increase, 12% is just ordinary now to what other institutions r offering. I only hope that great consideration is taken before they increase because personally I prefer a stayer to a sprinter.

  530. DH said,

    November 21, 2007 at 12:12 pm

    Patricia
    what what country are you in

  531. Charlibabe said,

    November 21, 2007 at 12:21 pm

    Does anyone have a telephone number for CASH PLUS MONTEGO BAY that actually works? This would be greatly appreciated.

  532. Patricia said,

    November 21, 2007 at 12:33 pm

    Hey DH, the true north is CANADA

  533. Michael said,

    November 21, 2007 at 1:35 pm

    Michael #521 could you add another initial to your name to differentiate your comments from mine.

  534. Michael said,

    November 21, 2007 at 2:01 pm

    Why don’t you add another initial to yours instead?

  535. babymama said,

    November 21, 2007 at 2:33 pm

    alicia thanks for the info.
    charlibabe the numbers i have for cash plus mobay are:979-7420 or 971-2441 they are very hard to get through to since recently you have to be very persistent

  536. babymama said,

    November 21, 2007 at 2:40 pm

    can any one give me a phone number for olint or is it all internet base i’d like to spread my wings

  537. DH said,

    November 21, 2007 at 2:41 pm

    For all Person who are intereasted in Investing and can not find money, there are there are a lot of interest free loan you can access if you have good credit.
    One such loan is form credit cards
    There are US credit cards available that has zero interest on cash advances, The thing is ,you can not use this card for purchase because interest will be charged on the purchases equivalent to high interest rate of the cash advances. Be safe dont use it for puchases. On the 12month you pay of the card in full to prevent paying any interest.

  538. DH said,

    November 21, 2007 at 2:44 pm

    MY idea about credit cards is brilliant, No credit to me
    Check out http://www.InvestmentU.com alot investment tips

  539. HD said,

    November 21, 2007 at 2:53 pm

    Hey Carl,

    Thanks for the link to that company in TO !!!…thanks for sharing !!! If I decide to put some money with them and if they let me in, I will share a 2-4 with you to thank you.

  540. HD said,

    November 21, 2007 at 2:54 pm

    #526 and #527 is very funny

  541. HD said,

    November 21, 2007 at 2:54 pm

    Hey DH ….why dont you change your initials people might get confused….JK :-)

  542. Patricia said,

    November 21, 2007 at 3:03 pm

    BTW, that TO link up is actually Prosporex, and not Prosperex…They have a site that is currently under construction…www.Prosporex.com…

    The names of the contact persons are Mr.E.Douse & Mr. C. Smith

  543. Michael said,

    November 21, 2007 at 3:07 pm

    Michae ,I can add the initial to my name as you said.I just realised that the comment I overlooked at #451 was yours ,I thought it was mine and never read it. I have been posting comments on the earlier link at POWERFUL INVESTMENT TIPS a few months now and also on CASH PLUS THE POOR PEOPLE’s MESSIAH and just think it would appropriate for you to make the change since you only have 2 comments so far, but do what you may our points of view are certainly different.

  544. Charlibabe said,

    November 21, 2007 at 3:11 pm

    Thanks babymama.. those are the numbers I have being trying from tis morning.. no answer. Customer Service here in MOBAY is terrible!

  545. Kevin2 said,

    November 21, 2007 at 3:17 pm

    Carl,
    Thanks for the info. Can I use you as a referral to prosporex? Email me at
    kevin2@live.ca
    I may or may not go with them but just in case…….

  546. Paige said,

    November 21, 2007 at 7:19 pm

    Michaels,
    I think you should both just put your initials after the name and the first one can just mention in the next blog that he is the first Michael or even use Micheal I and Michael II. That would just make things fair. I think we should all keep our eyes on the prize and not engage in trivial stuff like initials and names. This time next year I can tell you no one here will care whose initial is what because all we will be doing is counting all that dough we’re gonna make.
    HD I too laughed when I saw #526 and #527.

  547. Carl said,

    November 21, 2007 at 7:27 pm

    Hundreds stormed cash plus today wanting to know what was going on as no payments have been credited to their accounts on the due dates so far (this Month). Their anger were directed at the banks and they were not there to withdraw , they say .A Cash Plus Rep. addressed the crowd and said that Cp will be around for ever and that there were no problems with their money. TV J has a poll running right now. It states “Do you think the authorities are dealing fairly with CP”

  548. Carl said,

    November 21, 2007 at 7:30 pm

    Things are heating up guys. but dont panic CP has alternae plans .The proposed dbit card is currently being tested by some members. Andrea VP at CP said that the bank are pinishing them. He is now talking on Business day on TV J right now

  549. Carl said,

    November 21, 2007 at 7:33 pm

    I called BNS today to find out what was going on with my money they say that I should wait a few more days.

  550. HD said,

    November 21, 2007 at 7:34 pm

    Thanks for the info Patricia….can split a 2-4 with you as well.

  551. HD said,

    November 21, 2007 at 7:36 pm

    Carl,

    where the hell do you live man…how the hell do you know what is happening in JA and TO at the same time ? maybe you just flew down ?

  552. HD said,

    November 21, 2007 at 7:43 pm

    I think Michael and Michael are the same persons….:D

  553. Carl said,

    November 21, 2007 at 7:52 pm

    I subscribe to TVJ so I watch the news nightly on line at 7 pm , Live and direct . I just called a friend in Jamaica and she didn’t even know what took place at CP today, because she wasnt watching the news .But I watch the news everyday and I read all the Jamiacan news papers on line everyday. I have too much at stake in Jamaica. I have to know wha’ts going on . I was there last week as well. I love that place dearly.

  555. Patricia said,

    November 21, 2007 at 8:04 pm

    Carl the Roving Reporter….you guys better make sure you top up the wind screen wiper fluid and know where the ice scraper etc is…we may have work to do in the morn………I’m just oh so not ready for this S@#@#@#!!

  556. HD said,

    November 21, 2007 at 8:38 pm

    Greetings to all.I’m so glad to have found this place where opinions are so freely expressed and respected.Keep the information flowing and continue to appreciate and respect different view points.

  557. Paige said,

    November 21, 2007 at 9:44 pm

    says HD or is that DH? LOL. Michaels I haven’t heard anything. So I guess that’s good right? Just a little humor to lighten the CP gloom.

  558. NM said,

    November 21, 2007 at 10:04 pm

    greetings, everyone, does anyone hear anything about WW lately. Please fill me in.

  559. HD (Original) said,

    November 21, 2007 at 10:10 pm

    That last post was not me…someone doesn’t notice that HD is taken already…ah well

  560. VMS said,

    November 21, 2007 at 10:28 pm

    Hi Everyone,

    I am very impressed with what is happening here daily but can hardly find the time to interact with the group.. By the time i get home its just so late all i do is just try to read all the blog entries .. Thank you all for such intersting stuff..
    When i just discovered this blog i was warning people about Higgins warner and now i see people are still getting there 20% per month .. I hope all those investers in HW continue to do well..

    What i have discovered is that private clubs are the way to go because you are not necessarily resricted to a fixed rate. I am in a few and can cleary say if any of you know anyone personally that are trading Fx “take the risk” after you do the research ofcourse .. Dont put all your eggs in oone basket..

  561. VMS said,

    November 21, 2007 at 10:38 pm

    May be i shouldn’t use the term “PRIVATE CLUB” because all of these fx clubs are private .. Exclusive is more like it..

  562. Kevin2 said,

    November 21, 2007 at 11:32 pm

    Things are getting funny here. Two Michaels then two HDs. I had to add a 2 at the end of Kevin for the same reason. Anyway…………

    Have you ever wondered why the banks are delaying the payment of funds?I somehow don’t think it is a govt thing but I think the banks are aware of certain info that we don’t know about. I think there is something happening in the background. The govt has nothing to gain from doing this. And have you noticed how the banks are fairly quiet now about C+ and the others. They are simply delaying payments. I think they have been given a directive to do so but by who?? If my conspiracy theory is incorrect then the banks will surely suffer dearly in the next couple of years as these clubs get tired of their service and move their banking offshore. And we are talking about big money here. This is not like first time when the banks were all JA owned but now they are foreign owned and if they get juk I have no pity for them. They need to wake up and get with the global banking arena or lose out big time. This is anew era for investments and the JA people. Even if all these clubs crash, the greatest thing that would have happened is that the average JA is now so much more informed about alterantive investments and financial institutions will realize that they can’t force single digit annual returns upon people that easy anymore. Enough now….time for zzzzzz..

  563. HD (Original) said,

    November 22, 2007 at 12:02 am

    Kevin2 you are right. Come to think of it if the clubs all fail in Jamaica consider that there are alternatives outside Jamaica that people are now more knowledgable about as a result of the Jamaica clubs. If not you, I am sure someone in US or Canada or somewhere else would consider taking money from people in Jamaica and put it with a club up here and split the difference. Also, there seems to be a proliferation of “private” member clubs that are keeping a very low profile. It will be difficult for them to weed those out. So the banks should just behave themselves and try to take advantage of the opportunities as well.

  564. Kollage Kid said,

    November 22, 2007 at 12:05 am

    Carl, Patricia and Michael,

    Thank you all for you advice. I have been trying to gather some money to make an initial investment really soon and i think worldwise will be the one. I have checked them out and I think they are fair to start with.

    My sister on the other hand has money siting in Scotia Mint that she can take out, we are looking at enough to enter the investment plans requiring at least US$1500.00.

    This is where I want to go next, I would like to take to her a well thought out proposals as to why she should allow me to invest her money in the best plan out there.

    I guess Im asking for those who are in these ventures, Carl Micheal and Patricia especially since you guys were so great in lending advice, to tell me where to put this money for her.

    ps. I will start on the reading and networking as soon as I get throught these finals, Econometrics is tough!

    Thanks

  565. HD (Original) said,

    November 22, 2007 at 12:14 am

    heck with the very internet we are on people in Jamaica can invest in any company around the world that they find on the internet…I hope they don’t plan to block the internet next.

  566. DW said,

    November 22, 2007 at 12:33 am

    can someone shed some light on RIC club,whenever I checked on the web site CAREIF.COM,I noticed their is an office in new kingston,is a refferal needed or can you walk in the office and open an account?

  567. TB said,

    November 22, 2007 at 7:01 am

    You need a referral? Here’s mine. http://www.us2jm.com/atmcard . Go ahead sign up and then check the office.

  568. Joelle Clayton said,

    November 22, 2007 at 7:12 am

    ok people i heard from good sources that OLINT will be taking new clients in late Dec/ early Jan. will try to get more concrete evidence and let u know but try put a ting together incase this is true so u don’t miss the bus again…

  569. DR said,

    November 22, 2007 at 7:17 am

    The commercial banks are feeling the heat people….see JMMB giving car loan now…and of all people I think an investment chouse is giving away car loan too….but Capital & Credit is now willing to help people…..These AI’s have done alot….Thank God for The Hon. David Smith & the others who stepped out…..risked the waters of the financial authorities just to help thier fellow Jamaicans……

    MY financial life is improving….. I am not afraid to admit….Come next year…we’ll all be millionaires….(Once you’ve been in there with more than Ja$200,000 at 15%…over a year….you will see big rewards!)

    The banks need to be happy with the interest that we are putting back into the formal system….AFterall NCB posted a profit of $6.6 million….WOWW
    Did you see how much money the executives at the banks were making?

  570. DR said,

    November 22, 2007 at 7:22 am

    Let’s all enjoy the ride right now….!….for now we should be safe….I am not sure about April onwards.. Budget speech is in March 2008…..Our taxes are due no later than MArch 15, 2008…….Listen keenly to the sounds on the ground. Pay special attention to what is happening to CP at this time….Watch ww, even if they step up to 15% – - ask why?

  571. DR said,

    November 22, 2007 at 7:29 am

    I spoke to Olint, and they said early next year, they WILL be taking new people, Afterall they are the main sponsor for Jazz and Blues 2008. And besides rumour said it was their party that won the election. ha ha ha ha ha

    I tell you all do your homework…..watch the political affiliations of the various financial institutions….it will give you a hint!

    If a club is on the “other side”…GET OUT!

    Notice both CP money and Olint Money are in a certain bank…..> wow

    Notice we’ve never heard of a club who has money is BNS…..> think! why?

    enough said!!! !! ! ! !!

  572. Concerned said,

    November 22, 2007 at 8:51 am

    This was in the news today online@radiojamaica.com

    Cash Plus Limited is making changes to the way it does business in the wake of what it says is undue pressure from financial institutions.

    Cash Plus officials have been pointing fingers at their bankers which they say have changed the rules regarding the cashing of cheques which it issues to clients.

    Vice-President of Cash Plus, Andre Davis, says banks are now refusing to settle clients’ cheques on un-cleared funds in its accounts.

    “We have instituted measures such as cheques will only drawn from cleared funds. Previously cheques used to be cleared from an operating account. So what we have done is we have made a lot of transfers into this operating account in terms of bolstering it with cleared funds,” said Mr. Davis.

    “Our accounting department has specific information to only prepare cheques based on the actual funds the bank has advised us that is cleared. We will no longer operate as we used to because this facility is no longer there,” he continued

  573. Kevin2 said,

    November 22, 2007 at 8:56 am

    Interesting times for CP.

  574. Michael said,

    November 22, 2007 at 11:11 am

    Paige thanks for your advice . HD sorry for been so petty, I did the new HD comment to see how you would handle and you did well. I’m usually very big on principle and always stand my ground ,it’s a character flaw.

  575. JSM said,

    November 22, 2007 at 11:20 am

    HAPPY THANKSGIVING TO ALL. I AM NOT SAYING THIS IN THE TRADITIOANL SENSE. I AM SAYING THIS FROM A JAMAICAN STANDPOINT. FOR THE LAST SEVERAL YEARS IT HAS BEEN A THANKSGIVING FOR ALL OF US. LETS KEEP ON SHARING INFO WITH EACH OTHER.

    HEY MEMBA WHE BUJU SAY, “THEEF NEVA LIKE FI SEE THEEF WID LONG BAG”. WE ALL CAN HELP EACH OTHER BY SHARING INFO.

  576. babymama said,

    November 22, 2007 at 11:38 am

    hey fellow bloggers has anyone ever heard of 2 PELICAN HOLDINGS, they are into forex trading, min deposit is US$2000 interest is between 12% to 16%. They say 80% of your money is secure. They only accept clients at certain times they are accepting now. They have been private up to three years ago.

    any info would be greatly appreciated

  577. PoorRiskTaker said,

    November 22, 2007 at 12:42 pm

    Kevin2

    #555

    It is a deliberate ploy by them to try and give the clubs a bad rep. And then because we are emotional sometimes, we will then jump to conclusions and run to them about getting our money bank.. But what they need to remember is that if poeple decide to stabd off against them, the same would happen to them, any bank from NCB to Scotia, they would fall right to the ground too if we all started to demand our money… and they probably also wouldnt be able to return all our money…

  578. mathetes said,

    November 22, 2007 at 2:06 pm

    Hey guys

    I am happy that this has become the ‘people’s blog’. It is definately a hub for learning. I have been very very busy and sometimes have to spend hours reading the back- log of commments.

    My plans for the season into early 2K8 are:

    1. To find solid, new, unconventional low/no interest wayS for poor Jamaicans to get start up capital to invest. I know in the US and Europe they have online bid sites that allow the average person/people/groups to PROVIDE and GET loans based upon their credit rating. Its like ebay, you put the amount of money you need and the interest and hopefully someone will decide to lend.

    2. To Find new ways in which locals can access GOOD and SECURE wealth building opportunites in US, Caribbean, Europe, etc.

    3. Educate people more about buidling a secure financial future.

    4. Get a website,newsletter and start e-courses. Hopefully I can make some revenue from banners, ads, products, etc :) .

    On to other things…

    This week I am going to open a foreign currency account with Jamaica National because they are more flexible and dont have as much tiefing fees as my previous bank.

    You can start an account with US$20
    Wiring fee is US$20
    No fee for depositing over US$1000
    You only need TRN, ID, Proof of address and the deposit.

    Blessings
    Andre

  579. Afoolandhismoneysoonparted said,

    November 22, 2007 at 4:31 pm

    Only fools think their money can almost triple year after year.

    Do you really believe that any seizable investment can be that good for an extended period?

    Most of you will find this out sooner than later. Sadly, many of you will be devastated when reality sets in. Flame away!

  580. DH said,

    November 22, 2007 at 4:40 pm

    Bad Mind a kill Deeemmmm!
    Shout up fool if you have nothing good to say dont

  581. Kevin2 said,

    November 22, 2007 at 4:44 pm

    #579
    I agree that it is hard to believe and the future is unknown but you fact is this has been happening for at least 4 to 5 years and people have made millions since then. So I think you should ask those people if they think these clubs were crap. Facts speak for themselves.

  582. mathetes said,

    November 22, 2007 at 4:48 pm

    As it relates to Olint accepting new clients in January or next year, I spoke to them today and the representative said they received no such directive.

    Andre

  583. babymama said,

    November 22, 2007 at 5:11 pm

    does anyone knows what time cashplus in mobay close on a friday

  584. Afoolandhismoneysoonparted said,

    November 22, 2007 at 6:09 pm

    DH
    You’re one of the biggest fool!! Not only you are completely blind by your unspeakable greed but apparently a semi-illiterate thug!

    Wait and see, dumbass! It’s your money. It’s fool like you who lives in fool’s paradise but soon you gonna cry me a river. Idiots like you always think you can ge sumthin for nuthin! Live and learn arsehole!!!

  585. Concerned said,

    November 22, 2007 at 6:37 pm

    This blog was going so good with everyone sharing different experiences and and opinions and then you have Afool… entering with all all this venom and malice and just plain disrespect.

    Cursing and badgering people is not what this blog has become about, here we dont always agree with each other as you would have seen if you read the previous entries but we do respect each other, and that is something even a fool can see.

    keep the peace and leave out the hostility, your points can be made without the insults.

  586. Paige said,

    November 22, 2007 at 6:43 pm

    To: A fool and his money soon parted:
    This is a blog where the members deal with progress. Although all opinions posted on this blog are to be respected, when an individual basically tries to berate the others members because the individual is ignorant regarding the happening is totally unacceptable
    and what is this flame away about??
    A fool and his money soon parted, please read the entire blog and educate yourself before you make that second comment.

  587. DG said,

    November 22, 2007 at 7:20 pm

    Did anyone watch TVJs news this evening? The banks have stepped up their game. I hope that the Cash Plus lenders will stand their ground. Or will they be beaten into submission. It seems like a turnaround situation. First the people were pulling out their money from the banks and putting into cash plus. Now that the banks are running scared, they are causing people to run and pull out their money from Cash Plus. Tell me something – if you are one of those who has taken out your money – would you really put it back in the bank from whence you had it before? If nothing else happens – the banks should be “encouraged” to pay more and stop holding back the majority for themselves.

  588. Patricia said,

    November 22, 2007 at 7:24 pm

    Skeptics and cynics are a plenty, but there is clearly only one fool here…..lets not validate its presence but only bless his/her soul.

  589. Patricia said,

    November 22, 2007 at 7:27 pm

    How come DR & Andre have such conflicting info from Olint???……I dont like that!!

  590. Afoolandhismoneysoonparted said,

    November 22, 2007 at 7:43 pm

    DH threatened “Bad Mind a kill Deeemmmm!
    Shout up fool if you have nothing good to say dont”

    Sure, we are all entitled to opinions but there’s no need to threatens others if they happened to have ones that differ from yours. Let it play out; it won’t take many years and we will see who has the last laugh. Clearly, the vast majority here refuse to see reality and they will terrorized anyone who not only refuse to nourish their dreams but also dare to challenge their belief – that there’s freeness in this world.

  591. Afoolandhismoneysoonparted said,

    November 22, 2007 at 7:58 pm

    Posted by lenfresh nov 9, 2007

    My Fellow Jamaicans after my first posting I decided to walk away from this uneventiful and non- productive scene, reason being after reading a few people’s coment I could not understand how gullable my fellow Jamaicans were.

    What has triggered this response is a dear friend of mine who is now in a position of chaos….. a company (she is in Canada the company in the USA) in the US is offering a bone chillling 10% returns on Forex investments, “while this business is a multi-trillion U$ daily market it is not impratical to earn 10% maybe 20% on any given month ( I have done so mysely before) it is pratically impossible to create a straight line 10% profitability over lets say a 10 month period given the current market conditions” anyway she invested and she was off and running getting her 10% for the pass 3 months, she is now calling me to brag how this thing is great. Me being me set out to prove she is moments away from being a victim of the scam.

    I ask for info. on this so called company and begin my search, first red flag, the company is not known by the name given in the prescribed state by the better business bureau, I quickly called back and said, can I have some more info on the company of which she has none I quickly track down the wire into her account and found a address… records show this was a auto wreckage and salvage company I immediately called and business was normal and they were ready to accept my car to do some work….. WOW back to the the incoming wire transfer I was able to get a name associated with the company given. I went back to the Salvage company and ask for the person by name (Here is a hint first name Oops not a good idea) I was told he is retired and no longer working there I contunied to inquire how I could get in touch with him…not possible then I proceed to inquiry about the company operating from that address….suddenly I was not allowed to ask anymore questions and now being ask If i was a investigator of some sort ….completly stonedwalled at this point. I realised by now something was not quite right, so I pointed my inquiry to the legal/justice system….Low and behold the same person pop up in the state’s criminal records as a convicted felon.

    My friend is now terrified of my findings trying desperately to find some one to get the full investment back to no avail.

    my dear friends and comrades please save yourselves now get out, if you have already made something on yours be thankful. This Multi trillion Forex market is not as easy as it is cracked up to be. Seminar being thought on Forex left me dumb founded a thousand U$ for initiation and 25 thousand for classes….unfrigging believelable…… after pursuing an instructor dishing from my vast database of knowledge (unknowing to him)after cornering him i was offered a job I immediately declined then the pursuit began for me to be an instructor. my simple excuse was this would be a conflict of interest by my company.

    I have to go now and I hope to see and hear you folks were made whole on your investments but I am waiting to see what will happen when this inevitable catastrophe bearing down on us gets here.

  592. Concerned said,

    November 22, 2007 at 7:59 pm

    Mr Hill has come out and oficially indicated that he got the directive from three banks that they would be closing the accounts of cash plus and “any company associated with cash plus. He indicated that is why he decided to carry his banking overseas.

    The head of NCB denying it all the way… but the fact is if after one bankers association meeting three banks ask the company to close its account and threaten to close all accounts of any associated company ie. Mainland,Hilton,Vons auto and any of the other dozen companies, what is any reasonable person to assume. Patrick Hylton must think that he is the only person capable of reading between the lines.

    The banks just dont want the wrath of the people to turn on them if cash plus fail.

  593. HD said,

    November 22, 2007 at 8:00 pm

    For those of us constantly seeking inspiration and new ideas here is a very good resource. The print magazine is much better than the web site:

    http://www.blackenterprise.com/

  594. TheOne said,

    November 22, 2007 at 8:03 pm

    We all differ in our beliefs and perspectives at times. This is normal and today won’t be the last time it happens.

    But with maturity we learn to accept with grace the differing views. We might even learn and benefit positively from exposure to such. There is really no need to get angry.

    If you are truly concern about another’s possible error, offer good, solid advice. And be careful how you use your words. Soft answer turns away wrath, but hurtful (disrespectful) words stir up anger.

    Savvy?

  595. Concerned said,

    November 22, 2007 at 8:09 pm

    Nb re post #590 .. you were’nt threatened “bad mind a kill them” is a jamaican proverb meaning that you’re and envious person… no threat.

    And if you dont have any thing good to say… well it would really be best if you didnt say anything, and im sure that you do recognise that you have an inordinately long user name so the term “fool” is just a quick way to identify you.

  596. TheOne said,

    November 22, 2007 at 8:17 pm

    @ 592
    Interesting times. Keep the info coming. So much is happening with that one club it may very well be high time to switch course (at least for a while). Things need to cool down.

    Better safe than sorry, I say. Better safe than sorry…

  597. Kevin2 said,

    November 22, 2007 at 8:26 pm

    #591 Afooland his…………..
    That blog by lenfresh is stale news. We have all seen that already and we have moved on.

  598. VMS said,

    November 22, 2007 at 8:34 pm

    I think we have better things to do with our time than lend it to someone like Fool and his opinions … if you all dont feed into his crap,then what? they say everyone is entitled to their own opinion but we dont have to get involved..

    question to FOOL.. IS IT THAT YOU DON’T HAVE ANY MONEY TO INVEST IN THESE CLUBS ???????????? Maybe you should be polite and ask us for a loan instead of being so aggressive.. don’t hate us cause we getting rich..

  599. HD said,

    November 22, 2007 at 8:35 pm

    #595 LMAO :D

  600. Concerned said,

    November 22, 2007 at 8:36 pm

    There are five commercial banks in operation, and Mr. Hill indicated that three of them ask him to close his accounts, First global (only jamaican bank) already indicated publicly that they have no problem with cash plus and would keep doing business with them.

    I think The cash plus group should take its business there and make it clear to its customers that that is where it is taking its business, lets see how the client would react… i think some of them would move. C+ should really have a seroius sit down with First global.

    And the cheques that Cash plus wrote today were all post dated to 28-11-07 and the banks are telling people that the cheques wount be cleared till the 3-12-07. If they know that then they already have all the managers cheques in there posseession and they are merely holding up the process… thehy admit that they know when they are going to clear the cheques.

    I have my reservations as to the owner but if cash plus is to fail it should be done on their own accord and not as a result of some greedy banks and bankers… Partick hylton and Bill clarke both make in excess of 30Million per year in salaries so dont expect them to relate to the average customer with a balance of less than 600k in life savings which is 1/4 of their monthly earnings.

  601. VMS said,

    November 22, 2007 at 8:38 pm

    Anyway fellow bloggers (before i was rudely interupted by fool) back to more interesting things… I just learned of a new way to invest your money in FX Trades and having it trading without anyone actually doing the trades for you… I am joining soon and when i do i will definately get the information to you all…

    Its a way that you put the money in and it is traded automatically by a robot system… You get to monitor your trades all the time and its just their going on automated.. at the end of the month it acumilates in not less than 10% I am getting the inside to get in soon so lets see.. I have friends in it already and they are doing well .. I was told to start with $2.000.00 USD ..what can i say.. Nothing tried nothing gained.

  602. VMS said,

    November 22, 2007 at 8:40 pm

    Error spelling…( accumulate)

  603. Afoolandhismoneysoonparted said,

    November 22, 2007 at 8:40 pm

    Response to 595:

    Not disrespect intended Concerned, blogs are for users to express opinions freely. They are not intended to displease or please anyone or a group.

    Obviously, the issues is that almost everyone here wants (consciously or unconsciously) assurance that their “investments” are safe and exceptionally profitable. And each wants assurance from others that’s indeed that’s the case. Anyone failed to follow the herd is deemed an “enemy” automatically subjected to ridicule and possibly threat and are “advised” to be silenced. With the advent of the Internet, scams of all forms are so prevalent and yet people are continually being suckered, losing their hard earned money. Unfortunately, people failed to learn when they are under the spell of greed.

  604. Afoolandhismoneysoonparted said,

    November 22, 2007 at 8:47 pm

    599: Assuming you are invested in this “company”, we will see who laughs the loudest. It’s only a matter of time when (not if) the sh.t hits the fan.

  605. HD said,

    November 22, 2007 at 8:49 pm

    long name dude, you are actually sounding a little sensible now I must admit….initially I though t maybe you just smoked some weed…..I would suggest changing your name though….maybe someone in the blog (like Michael) can suggest a name for you.

  606. TheOne said,

    November 22, 2007 at 8:49 pm

    Read this comment taken from http://cashplusinvestment.com/rumors/

    HERE IS AN INTERESTING CONFESSION FROM SOME GUY WHO WAS A DIRECTOR IN ONE OF THE PONZI SCHEMES IN ALBANIA. SOME ASPECTS OF IT SOUND SIMILAR TO ONE IN JAMAICA.

    Final Report on our Operations in Albania

    Wishing to be a dominant financial force in one of the most repressed and isolated former communist countries, we established ourselves as one of the major trading companies involved in smuggling consumer products unavailable due to trade sanctions.

    At the time there were very few private banks and there weren’t many avenues for the investment of money that relatives had earned abroad and sent home to their families. They would privately lend it out at relatively high interest rates to others who were starting businesses or they would place it into investment funds based on smuggling operations.

    The people, completely unfamiliar with the basic concept that return and risk are related, were putting money into our company because we were generating high returns for them. This was at a time when Albania, under UN sanctions, was the poorest and most isolated country in Europe.

    Knowing that once the sanctions were suspended our companies would lose a major source of income, we raised the interest rates paid to investors in early 1996 despite having no further income from smuggling. From this point on, our pyramid schemes became so popular that the face value of deposits in all the schemes amounted, at one point, to more than half of the countries GDP.

    People who invested their money, thinking they were going to make huge profits, were foolishly spending some of the money in advance. As significant contributors to the ruling party’s election campaign during the growth of the pyramid schemes we ensured that there was governmental inattention to them.

    At one point, when over half the population was participating, we were taking in money so fast that we didn’t know what to do with it and simply deposited it in state banks. We were promising to double investors’ money in two months and were depositing it in banks paying maybe 25% a year. We made quite a lot of money, as planned, while the participants, particularly those who invested late, basically lost everything.

    The collapse of all of the pyramid-like ponzi schemes in 1997 set Albania back in terms of economic development by at least a couple of years and precipitated a near civil war in which there was a lot of destruction along with the deaths of about 2,000 people, out of a population of 3½ million.

    The government was forced during the riots to seize $400 million in the bank accounts of two of our competitors’ schemes, and depositors in those two schemes got more than 50% of their money back. Ours, which operated on the scale of one of the largest banks in the United States transferred 93% of our revenue out of the country prior to seizure of the balance.

    It is recommended, that because these schemes flourish in countries with undeveloped financial markets, we begin the research which will allow us to target the geographic venue of our next major operation.

  607. Concerned said,

    November 22, 2007 at 9:06 pm

    Just for info..

    People in Trinidad earn about 2 percent per year on their bank savings so then there was a little company telling them that they could earn more than that that per month if they invested with them…. 36 percent per year!!!! scam!! pyramid scheme!! that must fold!!! you fools (no pun intended) dont put your money there some people shouted no one can pay you more than 12 times the bank rate and survive…

    so who knows how the rest of this story goes or how it ended??? :-) its good… ill give you the answer in 15mins … be warned it will surprise you!! the answer is going to upset some of you!!

  608. Afoolandhismoneysoonparted said,

    November 22, 2007 at 9:16 pm

    Some food for thought…how do we know this board is not infiltrated by paid cohorts of the said “investment company”?

    A good guess is that many of you are forties of older and therefore should have quite a bit of life experiences behind you. Prior to C+ and Olint…,how many of you ever see this type of returns on investments? Think about it!

  609. TheOne said,

    November 22, 2007 at 9:20 pm

    Essentially if you invest 100k at cash plus at 15% and you roll it over for 1 year then take your funds you will be leaving with $465,239.14

    If you leave it for 2yrs @ 16% you will be leaving with approximately $3,032,622.16

    For 3 yrs $24,350,347.38 (that’s million) JMD. Leave it for five years @ 18% = 2 BILLION and mash DOLLARS.

    Strange now, could be true later.
    Hey… i don’t know.

  610. TheOne said,

    November 22, 2007 at 9:28 pm

    Love all you guys. Once we generate more light than we do heat we should get somewhere and benefit each other.

    I’m in C+ and i hope it doesn’t become CRASH plus anytime soon or later. If it does crash, that’s an end I thought about and was prepared for, however deep the wound may be.

  611. Joelle Clayton said,

    November 22, 2007 at 9:35 pm

    I think we have LONG passed the days of assuring and reassuring… We have all done our “due deligience” (patricia, 2007) and “RISKED” what we can afford to(i hope)…. This blog has been helpful not with assurance but with INFORMATION!!!!!!!!!! we are reading more, we are doing our research and we’re making MONEY!!!!!!!!!! this is HARD EARNED CASH THAT WE HAD SITTING AROUND IN BANKS NOT EARNING Sh*t so if at the end of the day the Sh*t hits the fan, look at it this we @ least we had Sh*t in the first place…

  612. HD said,

    November 22, 2007 at 9:45 pm

    I don’t want to see Cash Plus crash since some of my family have funds with them….however I sense something fishy about what’s goiing on at this moment and the more facts we get the better.

  613. Afoolandhismoneysoonparted said,

    November 22, 2007 at 9:53 pm

    610: I do get the distinct impression that TheOne is mature and genuine. Wishing you the best.

    611: We have no way of knowing what you saying is factual ( how many bloggers would use what appears to be their full names, in this case Joelle Clayton?). If what you said is true, more power to you.

    One thing is certain – the sum lost is gonna far, far exceeds that gained by the very lucky ones.

  614. Concerned said,

    November 22, 2007 at 10:00 pm

    Ok since there are no takers….

    After the people start screaming scam and fraud… some people invested in the company and it grew and grew and it paid the people when they demanded their money… and this is the part the will upset alot of you guy’s… they got paid with…. OUR MONEY!!!!…. and thats a fact…

    So here are the details … a little trini company named Clico put the peoples money in JMMB and JMMB put it in JA governmet security’s interest paid for by JA tax payers making smart Trini’s rich… earning up to 30+ percent instead of 2% Clico is now CMMB and those trini’s who took the risk reaped the rewards and JMMB and CMMB are still here and standing.And those trini’s are still laughing at us.

    In the future cash plus could amend their rates (just like jmmb and just like they have done before) and as long as it still beat the banks it could still be around… 6.6 billion in profits is nice but means the banks could do alot better.

    Who knows what will happen to cash plus if left to its own devices… but it should be given the opportunity to florish or fail on its own accord, just like eagle, century, NCB or Scotia.

  615. Kevin2 said,

    November 22, 2007 at 10:12 pm

    #608 long name…
    I appreciate your comments but look at it this way. History has proved that over time new investment opportunities emerge from time to time. There are risks associated with all these but where is the fun if there is no risk. In my grandparents days interest was probably 0.5% per year and 1% was probably darn good. Then over time emerged the stock markets, mutual funds etc etc and now currency trading. What do you think people said years ago when they were told that in the stock market you could average 10%+ returns each year. They probably said the same things you are saying now. With fx trading the thought of 10% per month is not unreal and skeptics like yourself are expected. So I suggest you save your scepticism and listen and learn on this blog. Maybe we are all doomed but only time will tell.
    Joelle C, I agree with you that we are long gone reassuring and assuring. Time to stop fret and keep your ears to the ground instead.

  616. DR said,

    November 22, 2007 at 10:43 pm

    My brother LONG NAME, I refuse to call you “a fool”…as you will become a lender like us one of these days after we convert you. But the truth is Pan Caribbean mutual funds is all the way up to 119% over a two year period…They have been trading under the quiet….

    Good FX traders consistently make 200% or more every month…..so for them to pay 10% is a joke. They make back the 10% within 10 minuets…(on a good day)…..

    FX trading has been around for years…..IT IS HERE TO STAY! even if we have to send our money off-shore.

    Yes Patricia, I respect Andre’s comments…but I did speak to Olint themselves…and they said…”All being well, we expect to start taking new clients next year”….. Let us see what happens…..

  617. DR said,

    November 22, 2007 at 10:46 pm

    Joke of the year: 2007

    All managers and members of staff of FSC might not attend the Jazz and blues Festival because it will be sponsored by Olint…..hah hahah .hahaha

  618. Afoolandhismoneysoonparted said,

    November 22, 2007 at 10:55 pm

    615:

    Don’t confuse opportunities with scams. If I were a scam artist , I would be thrilled to have guys like you and JoelleC around. Again, since a blogger can claim to be anyone or anything, it’s best I don’t dwell too much responding to you.

    I am closed to retirement age and have invested (and still investing) in the US stocks for decades (not to mention other forms of investments) so I would be appreciative if you don’t assume that I lam naive or did not read this board before commenting. Evidently, there are people who fail to see how difficult it is to money. One of mankind weakness es is that we have a tendency to believe (or rationalize) what we want and explain away things we refuse to accept. You believe what you want; it’s your money.

    Some might wander why I came aboard. It’s simple. To make a long story short, a dear friend of mine who went to UWI with me decades ago is invested in this. He told about it and wanted me to invest with him. I did some checking and I this is one of the boards that I came across. I told him no. Furthermore, as friend, I strongly suggested that if he must invest he should limit his “investment” to the amount he could afford to lose.

  619. Meto12 said,

    November 22, 2007 at 11:38 pm

    It seems to me that Afool… hits some some raw nerves. I, for one, do not believe that an honest business can make that kind of money consistently over a long period. Greed and/or desperation sure can make many into believers. Time will tell one way or the other.

    BTW, I would not be surprised if there are people planted here to feed the frenzy . Never underestimate the cunning of con men.

  620. Phillip said,

    November 22, 2007 at 11:46 pm

    A quick question for AFoolandhismoney, who is obviously not as ignorant as I originally thought. After a few posts you have been able to clam down and get your point across effectively.What is your take on OLINT? Would you consider that to be a scheme as well considering who the leader is and his former financial position in Jamaica?
    Your words while harsh, should be taken with a grain of salt as a cautionary tale. It is quite true than many many people have, and will in the future, lose money to various schemes. But my question is about OLINT, the one that started it all in Jamaica. With a track records of around 4 years, what is your current take on that company.
    Looking forward to your response.

  621. HD said,

    November 22, 2007 at 11:52 pm

    #618

    While you are here and since you are investing in stocks I will let you know something that you will never find out anywhere else. I was privileged enought to meet with a senior investment banker through a friend of mine a few months ago. This gentleman works for a very well know international bank (one of the largest).

    During the meeting a learned a large amount of interesting things. One of the things he mentioned is that one of the largest and most reputable investment firms on Wall Street have told all their largest clients to get out of stocks. These large clients and the individual rich are investing in funds managed by the large banks and investment firms that the small man does not have access to. A large portion of these funds include forex trading and are held, managed and traded half way around the globe in Asia. Closer to where the action is, and of course think about the offshore tax consequences. He basically mentioned that stock trading as you and I know it is basically old school and unless you are doing some serious technical trading the risk with stocks is very high right now. He mentioned that whenever a type of investment has become mainstream the experts are already reaping their profits and are getting ready to get out and leave the small man holding the bag. If you hear about it too much on CNN and CNBC it is probably time to get out. Look at Stocks in the early 2000 and the bursting of the .com bubble , not to mention real estate in the US in more recent times. (real estate is still good if you know what to buy).

    This meeting is what opened up my eyes to what is going on. Of course I do not have the money that these banks and investment firms require to put in these “exclusive” and “low profile” funds so I have to take my chance with the small “rogue” programs run by the “smaller” investment experts. I have sold all my stock holdings and have the money sitting in cash.

    Note that I said this person worked for a well known international bank.

  622. Afoolandhismoneysoonparted said,

    November 23, 2007 at 12:02 am

    620:

    You can’t be serious.

    Apparently you are not too bright. You appear to ask for an opinion and yet you litter your comments with not too-subtle insults. It’s best you remain “un- enlighten” Also, evidently you lack sincerity and is looking for attention. BTW, are you on C+ or Olint payroll?

  623. Lambert said,

    November 23, 2007 at 12:37 am

    Careful Carol.
    Please send me info on capital hill fx, and let me know if there is a reason you left cash plus, I was thinking of joining

  624. DW said,

    November 23, 2007 at 12:39 am

    618,nuff said, Dont be too philosophical,this type of selfserving Ideology could BORE us to DEATH, Lets keep the info on this blog flowing, with ZEAL and EXCITEMENT.

  625. Afoolandhismoneysoonparted said,

    November 23, 2007 at 12:42 am

    621:

    Thanks, HD. I think you meant well.

    What you said is already played or playing out. This is reflect in the values of the US stock markets (and to a lesser extent other non-US ones). If you have been monitoring the US markets, you may have noticed that the DOW been down triple digits on most days. The Dow has gone down from 13000+ to 12700+ within a fairly short time. It’s due to massive selling (investors selling their holdings and speculators shorting them) almost on a daily basis. This does not mean there are no buyers. It means that investors are paying a lower and lower prices. The same holds true for the NASDAQ and other indexes.

    Keep in mind, many of these so financial experts called are wrong quite often. For example, the CEOs of major corporations such Citigroup and Merril Lynch made major blunders in their misguided investments (or should we say speculations) in the sub-prime markets. Their companies lost tens of billions of dollars and they lost their jobs. It’s probably no news to you that the stock markets including those in the US are subject to frequent scamming too.
    It appears the USmarkets are oversold or pretty close to it. Great investors like Warren Buffet pay very little attention to gyrations of the markets. He evaluates the fundamentals of companies and buy them when they fall within his price ranges irrespective of the market performance.

  626. Anthony said,

    November 23, 2007 at 12:44 am

    Mr Afoolandhismoneysoonparted,
    Do I detect a bit of grudge fullness in the way you post your comments, I really do not think it fair that you should be angry at us because you had to work hard for your money and we the younger folks r now exploring other avenues to not only work hard but also give our money a chance to share the burden.
    If you r as old as u imply then you should also know that nothing remains the same re technology and all we r doing is utilizing same. I grew seeing my grandfather with a donkey for his transport and look where we at now.
    I also wonder why is it that you would laugh if people loss their money trying something different knowing it is risky but willing to take that risk knowing that it is legal and wants to be able to at least give their children the chance for a proper education etc.
    Mr moneysoonparted kindly run your comments through your head and see if they make sense before you post them.
    If you really want something to laugh about and you are in JA go laugh with the crowd by Premier Plaza and then tomorrow tell us if they found your joke funny.
    Whose payroll are you on is it the payroll of elite who wants to keep the social pages of the Sunday Gleaner to themselves or are you one of the elite that now feels threatened.
    Keep your disrespect to yourself because this is a forum that we all look forward to reading and for an elder you really stepped out of line.

  627. Afoolandhismoneysoonparted said,

    November 23, 2007 at 12:48 am

    624: Nobody forces you to read!

    Simple solution – skip my posts. No one here to please you.

  628. Afoolandhismoneysoonparted said,

    November 23, 2007 at 12:58 am

    626:

    You are entitled to your opinion so do I.

    Why don’t you come straight out and say you enjoy your dream of getting rich and I am vaporizing that and you detest me for doing it.

  629. DW said,

    November 23, 2007 at 1:12 am

    fool,How has your 401k or Mutual Fund performed for 2007.GREAT!!! What are your GAINS so far -12%,Is this you idea of investing with ASSURANCE.

  630. HD (Original) said,

    November 23, 2007 at 1:16 am

    I think you get the jist of what I am saying and you made some good points. I wont try to change your mind in anyway or argue who will have the last laugh as I have a strong belief in what I am doing right now and obviously so do you.

    I do encourage you though to keep an open mind and continue doing your research as I think it will benefit you in the long run when you start to understand. You might not trust Cash Plus or Olint or World Wise or May Daisy I don’t care but I am sure you will find out enough eventually to change your mind about what most people on this blog are doing. At such time you may very well decide to trade forex yourself or give your money to a close friend to do it for you, your choice. When you do change your opinion, come back to this blog and let us know.

    And dude, change your name and don’t be so damn cantankerous. Maybe have a white rum and milk before you post next time.

  631. Anthony said,

    November 23, 2007 at 1:16 am

    I do want to be successful and I can tell you that I am on my way and you cant stop it because I am way past being a new comer to this thing.
    Well I have to admit it is a free forum so do whatever gives you your kicks.
    Wish you would try the Premier Plaza suggestion though seeing as how you are so learned.

  632. Afoolandhismoneysoonparted said,

    November 23, 2007 at 1:36 am

    631:

    Anthony, I don’t know you so I have no reason wanting you to fail. In fact, I have absolutely no reason for wanting anyone (including a friend who told me about this investment) here to fail. Like everyone here, I am expressing an opinion. What should not be done is that some bloggers on this board “attacked” me by using some cock-and-bull pretext instead of coming right out and saying straight out that I am trying to destroy their dreams. It does not matter what I or any one say, if your investment is solid then it’s solid. I knew from the onset that I will be vilified because I am not with the herd.

  633. DW said,

    November 23, 2007 at 1:39 am

    Fool,before coming on this blog you should have done your research,you would find that most of us as alternative investment club members, know the RISK involved and are prepared to get RICH or die trying,therefore it would be more beneficial to sofen your tone and be less controversial, if you want to be taken SERIOUSLY on this forum.

  634. Afoolandhismoneysoonparted said,

    November 23, 2007 at 1:48 am

    629:

    Glad to see you are deliriously happy with your returns. Enjoy while you can. As the saying goes “the calm comes before the storm.” Me, an idiot who would be happy if I can get 20% annually. Don’t you pity poor me?

  635. Afoolandhismoneysoonparted said,

    November 23, 2007 at 1:50 am

    633:

    I voiced an opinion, take it or leave it. Your choice.

  636. Afoolandhismoneysoonparted said,

    November 23, 2007 at 1:54 am

    633:

    Gee, how dumb of me not knowing anything about this board and then started running off my mouth!

    Seriously, it’s not smart to ASSUME. You don’t know I did any research or not so don’t go there..

  637. DW said,

    November 23, 2007 at 2:06 am

    fool,This is dilirious, JP MORGAN and MERRIL LYNCH gets 100% return on your nest egg,and give you a measly 10%, are YOU DILIRIOUS YET?

  638. Afoolandhismoneysoonparted said,

    November 23, 2007 at 2:12 am

    637:

    What is your point? Keep your mouth shut no one knows if you’re an idiot; open it and you left no doubt.

  639. DW said,

    November 23, 2007 at 2:18 am

    Fool,if you need a refferal to an exclusive club,please do not hesitate to contact,great bloging this evening. Peace

  640. Afoolandhismoneysoonparted said,

    November 23, 2007 at 2:23 am

    639:

    Peace, DW.

  641. Mellonie said,

    November 23, 2007 at 5:25 am

    Welcome to the blog family Afoolandhismoneysoonparted.

    #579 “Only fools think their money can almost triples year after year.” (How would you know?)

    Would you accept DW offer/invitation for a referral to an “Exclusive Club”? Would you consider using a little of you nest eggs to invest?

    I don’t know that we are fools however; some of the bloggers have been riding with the waves to the shore for several months/year(s) and have not drowned. The risk here (“Exclusive Club”) is the same with JP Morgan and Merrill Lynch just to name a few (we can loose our money at any time).

    Look at what shareholders experienced with Enron…….. Were they foolish to have taken a risk and invested their money?

    I like the variety (differences in opinion), please stay.

  642. Joelle Clayton said,

    November 23, 2007 at 7:18 am

    Cash Plus squeezed – ‘Suspicious’ label delays bank payouts
    published: Friday | November 23, 2007 – FRONT PAGE HEADLINES of the GLEANER… Same ‘ole same ‘ole…. Nuttin that we never heard before.

  643. DR said,

    November 23, 2007 at 9:02 am

    Jamaica Gleaner…
    Cash Plus squeezed – ‘Suspicious’ label delays bank payouts
    published: Friday | November 23, 2007

    Shelly-Ann Thompson, Staff Reporter

    ( L – R ) Hill, Hylton

    An apparent decision has been taken by financial institutions to report as suspicious, all funds that come to them through what they describe as “unregistered o schemes”, as allowed under the Money Laundering Act.

    Such a move is believed to be having adverse effects on the operations of these unlicensed schemes, including the popular Cash Plus operation.

    In fact, Cash Plus officials have pointed fingers at their bankers, who, they say, have changed the rules regarding the cashing of cheques which it issues to its clients.

    Stipulations of act

    The Money Laundering Act, in part, stipulates that it is a financial institution’s duty to report a customer’s account as a suspicious transaction and “pay special attention to all complex, unusual or large business transactions, or unusual patterns of transactions, whether completed or not, which appear to the financial institution to be inconsistent with the normal transactions carried out by that customer with the institution”.

    The Gleaner has obtained a copy of one of the circulars being issued to employees of a financial institution, which took effect on November 12.

    The circular listed 10 “unregistered o schemes” that its employees should be on the alert for with regard to customers’ transactions.

    It stated in part: “We are requesting that potential customers who wish to use funds obtained from these ‘unregistered o schemes’ to establish relationships with any company within the group be referred to the compliance department or the writer for approval before the account is opened.”

    However, the Jamaica Bankers’ Association (JBA) said it was unaware of the circular.

    Patrick Hylton, president of the JBA, said nonetheless, the financial institutions are sticking by the provisions of the law.

    “(I) can’t tell members what to do,” said Mr. Hylton, who is also group managing director of National Commercial Bank (NCB).

    In fact, a statement by NCB issued under the signature of Mr. Hylton yesterday, to the media and employees of NCB, distanced that bank from “a conspiracy against certain institutions which receive funds”.

    “While we are legally constrained from discussing the specifics of any particular business relationship without the consent of the customer, we feel compelled to respond to these baseless accusations.

    “Accordingly, we categorically deny our involvement in any conspiracy and wish to assure the public that NCB continues to operate within the context of sound banking practices and the regulatory environment which exists,” Hylton said.

    Subject to the provisions of the Act, it is the duty of a financial institution to make a report to the designated authority, which could either be the Bank of Jamaica or the Financial Investigative Division, if there is suspicion of money laundering.

    Banks frustrating operation

    Speaking with The Gleaner’s Garwin Davis yesterday, Carlos Hill, head of the Cash Plus Group, suggested that the banks were frustrating his operation.

    “We understand what is happening (with the banks),” he said, adding that “Jamaica is not the only country with financial institutions. We will alleviate all those problems starting in December.”

    In fact, Hill said that, as of December 1, Cash Plus will be issuing credit cards to its customers or will wire the money into their accounts from overseas.

    On Wednesday, scores of investors in Cash Plus turned up at the company’s office on Premier Plaza in St. Andrew, seeking information regarding their returns that were not forthcoming or were being deposited into their accounts beyond the designated time.

    Going offshore

    One customer of Cash Plus, Suzy Reid (not her real name), said even if she withdrew her money from the scheme she would not deposit her money again in a local financial institution.

    Miss Reid, perturbed by the financial entities’ decision, said she is taking her funds offshore.

    “It’s going to backfire on the banks. I am going to take a plane and take my money out. It’s not going back to these banks,” she said.

    Other entities named in the circular included World Wise Partners Ltd. and Higgins Warner Music and Entertainment Ltd. The Financial Services Commission had, weeks ago, advised that these agencies are unregistered investment schemes.

  644. alicia said,

    November 23, 2007 at 9:08 am

    Hey guys did anyone catch Nationwise this morning with Emily Crooks?. Wayne Chen called in as a “concerned citizen” to speak on the cashplus issue and the banks.

    Basically what he is saying is that the tone of the business dealing with the banks and cashplus has changed over time because cash plus because they will not provide audited financial statements, he us also”concerned” about the person that have mortgaged their homes and put their life savings in these schemes without knowing how the company makes its money.

    While he did make some good points on certian issues, I personally think he is full of shit, concerned citizen my ass. If he is so “concerned” while doesn’t he encouraged his brother to offer the depositors in his bank a better deal.

    On another note Emily stated that she was had a email of a document sent to Olint that stated that the banks, First Global, First Caribbean and another bank (I did not catch the name) were closing the accounts of Olint, some of the accounts wre in different stages of closure.
    I am not a investor of Olint but all Olint investor need to check out this bit of info, if that is the case then it is very obvious that the banks are up to something, this is no coincidences

    No matter what you try you cant win.

  645. DR said,

    November 23, 2007 at 9:08 am

    People….”They” cannot stop us…We must find a way to overcome. No “fool” can stop us….No “bank” can crash us…..As long as God is with us..,.we shall over come…Do you realise that most of these clubs are owned by Christians….(I know some of you will not like that)

    I left CP in September because I saw the writing on the wall….I almost left WW…cut changed my mind….I refuse to RUN anymore….I am going to ride the tide, make some money and GET RICH! so I can take good care of my family….I am sick and tired to “dem” trying to hold us back.

    Yesterday, a list of 10 clubs was passed on to a bank or all banks…I don’t know who is on the list,.,,,,but for sure, Olint, C+, worldwise, Higgins are on that list….So says the Gleaner (read#643)…I have to stand up and FIGHT….

    I refuse to bow (in this case) ha ha ha ha

  646. DR said,

    November 23, 2007 at 9:13 am

    Yes the banks are indeed closing account for C+, and Olint,,,,that is a FACT.,,,!

    Someone lodged a cheque from WWise recently…and the bank wanted to hold on to it for 45 days…..This is true.

    Eventually all monies will have to be moved “off-shore”…preferably Turks, or Dominica where “DEM” caan touch it. We can all get debit cards…..

    but oopss…..suppose “Multilink” decides to mess us up? What do we do?

  647. DR said,

    November 23, 2007 at 9:17 am

    So will the executives of BNS, NCB, and FSC be attending the Jazz and Blues Festival 2008? ha hah ahaa For those of you who don’t know, It is being sponsored by Olint.

    have a good day you all….see you at the Jazz Festival with Jill Scott/Anita Baker.

  648. Yardman said,

    November 23, 2007 at 9:36 am

    FOREX TRADING FOR PASTORS

    Theology school to train pastors in forex trading – As church involvement in investment schemes deepens
    published: Friday | November 23, 2007

    The investment scheme, LewFam, which joined with Olint Corporation in fighting the Financial Services Com-mission, has ties to a church group.

    And another church-related investment club, whose prospectus to potential investors the Financial Gleaner obtained, is offering monthly returns of between 12 per cent and 16 per cent on investments ranging from US$1,000 to US$250,000.

    The club calls itself FX1 Finance Club and has at least three pastors listed as board members.

    Major Neil Lewis, who is part of the Family Life Minsitries, would not discuss LewFam’s activities, saying it remained under the FSC’s ‘cease and desist’ order, but the church-based investment scheme, is modelled off David Smith’s Olint club.

    These developments highlight a growing involvement of churches in increasingly controversial areas of business and finance, but which their leaders say is part of their mandate to ensure the well-being of both the spiritual and physical man.

    So much has the idea caught on in theological circles that the Caribbean Graduate School of Theology is introducing a course in foreign exchange trading, under its MBA programme.

    The inaugural seminar, which is to be presented by chartered accountant Evadnie Byfield-Sterling who works at the Bank of Jamaica, is set for Saturday.

    Since David Smith’s investment club, through which he raises capital to play the the foreign exchange market, high-yield investment schemes have been a source of deep controversy while inspiring copycat schemes.

    For instance, Olint has resisted attempts by FSC to have it register as a trader in equities, a issue that is now before the courts for resolution.

    Additionally, the FSC has raised questions about the capacity of Olint, and other investment clubs, to offer returns of upwards of 100 per cent a year and has been on a campaign warning people of the dangers of Ponzi schemes and high-risk investments.

    While critics of the FSC insist that there is no rule governing the establishment of private partnership/investment clubs, the regulator bases in insistence on the requirement of the Securities Act that all persons soliciting or conducting securities business in Jamaica to be authorised by the commission.

    But the controversy around Olint has apparently not dampened the appetite of Jamaicans to participate in these schemes,

    For example, Olint was followed in the market by CashPlus, which apparently has been raking hundreds of millions from hundreds of small investors, offering interest on the cash of over 10 per cent per month. CashPlus appears to have pumped much of the cash into real estate and other businesses, but is yet to explain its ability to pay its offered returns.

    It, too, is at loggerheads over whether it needs the approval of the FSC to maintain its operations.

    These quarrels have not, it seems, damped the spirit of evangelical preachers to establish similar schemes to build wealth for themselves, their churches and parishioners.

    Recently, Bishop Peter Morgan of City Life Ministries told The Gleaner that he and other Christian friends had created a partnership to investment, but drew a distinction between what they did and organisation like CashPlus.

    Additionally, the Caribbean Graduate School of Theology, which trains evangelical preachers, says its introduction of the foreign exchange course is based on the demand of its students.

    “We are trying to move out of the periphery to the centre as to understand the various issues and articulate them correctly, thus playing a more vibrant role in national development,” said Dr. Anthony Oliver, the school’s principal.

  649. HD said,

    November 23, 2007 at 9:57 am

    Phew !!!…All that venom and antagonism.

  650. DR said,

    November 23, 2007 at 10:00 am

    I told you all that the church is heavily involved….. I can call names…..but check out which churches the “BIG traders” attend…….Yes we are covered in Jesus Name….somehow.. We serve a great “rock”….hahaha I could go on and on but I won’t….(not sure who is reading this).

  651. chillin said,

    November 23, 2007 at 10:53 am

    we should pull our money from that bank(put a run on it) which uses red and from canada, since its president t is the head of the banking association, if his bank performance becomes poor his managers will not want to keep him thus if he is fired he cannot be the bank association president, it will thus send a message to all thus banking managers that they should no fight thedistribution of wealth to us poorer jamaicans whether it be CP or the others, spread the WORD

  652. Kevin2 said,

    November 23, 2007 at 11:00 am

    Tell all your family and friends to pull all funds from BNS and NCB now.

  653. Patricia said,

    November 23, 2007 at 11:10 am

    DR,Andre or anyone else….can you get a copy of that “circular” with the names of the 10 schemes………so we can know for sure which ones are affected….

    I really don’t think the Bank’s are approaching this the right way…..they are hiding behind the legislation to thwart the activities that are proving detrimental to their bottom line…the aggresive manner in which they are operating may well end up costing them more in the long run, in terms of lost accounts, reduced deposits,and/or lawsuits by some one willing and able to take them on….because trust me there are big fish swimming in this pond who will not just sit by and get swallowed.

    Clearly if some one has invested in one of these schemes or is in fx trading their banking activities..ie deposits withdrawals, and the amounts involved will substantially increase…that’s not suspicious, it might be out of the norm yes, but as a part of the duty to know your customer, you find out what they are doing and request details on the source of funds, but what they, the banks, are doing now is excessive…

    I’ve always suggested that an off-shore account would be necessary given the potentially huge sums, folks could realize from fx trading, and the inherent tax consequences, I guess now a time is as good as any for folks to now truly exlpore that option…given the bankers association position, I would also suggest that in the off-shore world you exclude those with a J’can connection….

    …what a funny world we live in the bankers have such short memories of the pre & post Finsac period, J’cans have for decades been suckered punched to death, now many are prepared to take a risk, are willing to fight for nthat right, Goliath better remember who flattened him with but a pebble.

  654. Paige said,

    November 23, 2007 at 11:22 am

    Afoolandhismoneysoonparted,

    I have citigroup stocks (symbol C) purchased around 7 years ago at $50 something USD a share. now on November 23, 2007 my stocks are worth $31.39 USD a share. So after 7 years what do I have? Way Less that what I paid 7 years ago. Now if I have an emergency today which required me to sell those stocks I would just have to call it a loss of the principal I initially invested. As I see it, I have invested in a couple of these high yield investments and I have no regrets. The stock market is just as risky if not more in my opinion.
    Further more I have saving bonds that my mother purchased for me as a kid 26 years ago. A year ago when I checked they doubled but did not reach the triple mark after 26 YEARS WOW is what I say.
    I began investing a few months in ago in teh high Yield products out there and while my money has not doubled yet, it is almost there. My basic thing is I am about half your age (based on the retirement age in the US being between 65-67) and if it does not work out I still have time to recover as I am sure a majority of the people on this blog does.
    So it would be nice if you give us your opinions and why you think the way you do on a particular subject instead of criticizing and name calling. I think you would be more accepted here if you shared your wealth of information along with the aforementioned. Don’t you think so?

  655. DR said,

    November 23, 2007 at 11:24 am

    It is now 11:25am in Jamaica. listen to Power 106, Perkins onLine….alot of talking about CashP and Olint…..A banker was on the panel too…

  656. Concerned said,

    November 23, 2007 at 11:40 am

    Olints message mentioned on Nationwide this morning

    Dear Club Members,

    We would like to bring to your attention, some recent developments regarding the operation of our local bank accounts. We are communicating this information to you in a timely manner to ensure that you have the facts and are not disturbed by rumours that may be circulating.

    Our accounts with First Caribbean International Bank (FCIB), First Global Bank (FGB) and National Commercial Bank Limited (NCB) are at different stages of closure following advisory received from each of these institutions to that effect.

    We are currently taking steps to minimize the disruption that the closure and pending closures of our bank accounts could cause and will shortly provide you with details of the alternative arrangements that we have established. We would like to assure you that the closure of the local accounts will not cause any disruption to our trading activities.

    Please note that your request for encashments and the ability to add margins will continue as you are accustomed. The alternative channels that will be employed to ensure that your transactions continue to be undertaken in a confidential, efficient and effective manner will be communicated to you shortly.

    We thank you for your continued support in these difficult times. Please feel free to contact our Call Center or any team member from our Member Care department for any further clarification that you may require.

    Yours Sincerely,

    G. Wayne Smith,
    CHIEF EXECUTIVE OFFICER

  657. DR said,

    November 23, 2007 at 11:44 am

    Babara Gloudon Hotline is all about Investment…so too Mutty Perkins….

    People, we are taking over this country….We are sick and tired of being kept down….

  658. TheOne said,

    November 23, 2007 at 11:46 am

    Yesterday Cash Plus in the news: http://www.youtube.com/watch?v=_JPlEebJqXo

  659. Patricia said,

    November 23, 2007 at 12:16 pm

    People who are account holders of the various banks write them a letter..addressed to the Managing Director by name, cite their profits, eg 6.6 Billion, cite the interest rate paid on your investment/account whatever facility you have, and ask for a written response as to why the interest paid is so low,and also why are their bank charges are so high..and quote what they are. Indicate that you wish a response to your letter within 7 days of the date of your letter, failing which which you will close your accounts. If you dont want to write it, call your Branch Manager and ask those ????, and indicate that if you dont get a response you closing your account. Also, if you go to logde a cheque from one of your clubs and they say it will be held for more than 3-4 working days, tell them you are closing your account. Also, if you have a credit card, call the bank and request a reduced rate, and if they cant reduce it tell them you swithcing banks….whatever you do keep up the pressure on them……..

  660. Gail said,

    November 23, 2007 at 12:20 pm

    Is OLINT accepting new members. How is LEWFAM stateside doing? Did it make money in October?

  661. BJ said,

    November 23, 2007 at 1:26 pm

    17%

  662. Mercury Vapor said,

    November 23, 2007 at 3:04 pm

    Mercury Vapor

    Thank you TheOne #658 for the Cash Plus video on Youtube. It was very interesting, please post more videos in the future.

  663. DR said,

    November 23, 2007 at 3:18 pm

    The CP video was interesting….Thanks….THe ONE! (#658)

    Well Patricia and all other Lenders and Partners….

    I spoke to a senior official at WW, and they have everything covered…They have been given a few days to close all of their accounts, not to worry….I suspect they will be going off-shore. (I am not leaving!)

    I also spoke to a client of Olint…and they have to close their accounts shortly. This is a fact…

    So guess what…..soon all of our money will be off-shore. Oops.. How is Bill and his friends going to have access? We will be able to send the cheques via FEDEX….(stay away from wire)…We will be able to collect money through Western Union or using international debit cards……

    Remember if you wire, your name goes on a list to the Ministry of Finance!

    Oh by the way, all of the “exclusive club members”, you need to send in your proof of address this month-end, also picture id’s along with character referral. All club members of “whatever clubs” need to have these ready shortly : All clubs are being investigated shortly……

    There is in fact a list with 10 clubs that the banks are after. I am still waiting on my source to name the other six…..but it seems like WW, Higgins, Olint and CP are definately on that list.

  664. DR said,

    November 23, 2007 at 3:23 pm

    Hopefully, the clubs will allow us to send money through FEDEX with “our” names on the cheques instead of the names of the clubs. READ MY LIPS! shhhh

    STAY AWAY FROM WIRE!….(or don’t wire too often…)..

    I only hope “multilink” and “Western Union” will leave us alone….as this are our last resorts!

  665. Investment Tech said,

    November 23, 2007 at 3:28 pm

    DR.

    Will the account of the “exclusive club members” be close if the two chracter references are not submitted in time

  666. DR said,

    November 23, 2007 at 3:43 pm

    InvestmentTech, I am not sure. That was not outlined to me….but I do know that ALL clubs are going to have to do the same – - even if they all go off-shore which THEY WILL.

    So all clubs from A – Z….and yes we do have clubs starting with every letter in the alphabeth except maybe “Q”. (so it seems) ah ha ha

  667. Concerned said,

    November 23, 2007 at 3:59 pm

    quicksilver investment :-) … guess that means we have all the letters :-D

  668. DR said,

    November 23, 2007 at 5:04 pm

    good one Concerned…(Y)

  669. Kevin2 said,

    November 23, 2007 at 5:19 pm

    DR & Concerned,
    You guys are indeed funny :)

  670. Thinkaboutit said,

    November 23, 2007 at 7:42 pm

    Att: All cash+ investors: This was taken from another site. The name of the writer is Anthony. This should be read by all c+ investors, it should be circulated among the group. .It should be publish in the Jamaica gleaner.Food for thought.

    I used to say Cash Plus is for poor people…but it seem I was wrong, it for the rich… poor people have no business investing in these high investment company, the reason I said this is because if you are going to line up at a building and looking through windows, that simple mean that you dint sleep last night and you wont be sleeping anytime soon.

    These investment is for rich people not the poor faint at heart. When you signed that contract, it clearly stated that its a high investment and that the 10% monthly is a consideration. With this said, why are you crying if your payment is a few day or weeks late. I’m expected to be paid on the 5th; when my account was just open, I got paid on the 20th, 15th, 10th; now I’m noticing i’m getting paid on the 5th regularly.

    Look people; you dont invest in cash plus so you get an income to pay bills at the end of the month, you can somewhat do that but dont depend on it.

    I check this blog to find out about new ideas and other investment opportunity, but it seems all anyone talk about is the crashing of these investment club, can we talking about something else.

    So many investors, and all they talking about is cash plus dooms day.

    If you are so worry, these investment is not for you and you need to take out your money and go back to the hills; investors and entrepreneurs dont waste time talking about dooms day about their investment.

    One other thing, someone post a comment about their savings with cash plus; look, Cash Plus is not a bank, on the contract it clearly stated its a loan to cash plus.

    Someone also stated that if cash plus was facing financial problem, why would they buy $15 billion in property when they could keep that money in a bank to pay investors.

    One other thing, Any of Cash Plus 80 companies failed yet? I would think if a umbrella company like cash plus is failing, I would expect a few of the companies cash plus own should starting failing first.

    Any business person or investor would look for news that Mega phone is losing money or shutting down, No one is staying at the Hilton hotel and they losing money, The security companies is not doing so well, so they closing that business. The shipping company is not doing well, so they closing down that business, Jaxs Hall $100 million US purchase was a mistake so they liquidating.

    Even if any one of the above scenarios should unfolded, that doest mean anything unless a domino effect start with all the companies.

    Can anyone show list a company on this site, that profitable every year for the past five plus year?, Donald Trump Hotel went bankrupted in the 90s and he bank on his feet now.

    All i’m seeing is a bunch of nervous reck running around like a chicken looking for there mother.

    If you are losing sleep and going to run to a building for your money because of rumors, investment is not for you, take out your money and give it to Mr. Chin, so he can make billions and donate it to museum in other country, OK.

    For Jamaican, why not open a offshore bank account and have have Cash Plus wire your money to that account.

    I have a question, is the bank having problem if cash plus wiring money to cash plus members bank account?

    I invest millions in Cash Plus, I don all my research, I took plan to JA to open my account so from the start i’m expecting rumors and i’m expecting ups and down and i’m in till the cash plus ship sink to the bottom.

  671. DW said,

    November 23, 2007 at 8:19 pm

    Cash Plus will NOT CRASH, because we as JAMAICANS know the art of SURVIVAL,whenever there are tough times we know how fi ban wi belly an wether de storm.

  672. alicia said,

    November 23, 2007 at 9:42 pm

    can anyone shed any light on a Cash Plus meeting that is suppose to be taking place tomorrow at Merl Grove auditorium staring at 4pm?.

    My girlfriend called me today to say she got a call at her office, about the meeting, but I noticed on one has made mention of it can someone shed some light?.

  673. Yardman said,

    November 24, 2007 at 12:52 am

    UPDATE ON OLINT & CASH PLUS

    Accounts closed: Banks refuse to honour cheques from Olint, Cash Plus
    published: Saturday | November 24, 2007

    Shelly-Ann Thompson, Staff Reporter

    Customers converge on the Premier Plaza office of Cash Plus Ltd. yesterday in search of information about the operations of the popular investment club. There has been a run on the club, which Cash Plus said was precipitated by the actions of several banks at which its customers have accounts. – Junior Dowie/Staff Photographer

    At least one high-risk investment scheme has advised its members that its accounts have been closed by local banks, while inside sources have told The Gleaner that some financial institutions have threatened to fire their employees who have accounts with schemes such as Cash Plus Limited and OLINT Corp.

    A letter sent out to clients of OLINT advised that at least three commercial banks had taken steps to close OLINT’S accounts.

    The letter, over the signature of G. Wayne Smith, OLINT’s chief executive officer, said the accounts were at “different stages of closure following advisories received from each of these institutions to that effect”.

    no disruption

    The letter said in part: “We would like to assure you that the closure of the local accounts will not cause any disruption to our trading activities.”

    It added that “th channels that will be employed to ensure that your transactions continue to be undertaken in a confidential, efficient and effective manner will be communicated to you shortly”.

    The Jamaica Bankers’ Association has stressed that it has not seen the circulars.

    The Gleaner was also informed that financial institutions were yesterday on the brink of closing all accounts relating to what they deemed ‘unregistered schemes’, such as the popular Cash Plus.

    alternative measures

    Carlos Hill, chairman of Cash Plus, issued a statement in the print media yesterday in which he said the entity had “not taken the recent attacks on our operation lightly and as such we have researche banking measures which have been implemented”.

    Effective December 1, money earned will be wired directly to investors’ bank accounts or it may be collected at any remittance outlet islandwide.

    According to information reaching The Gleaner, one bank has ordered its employees to close all accounts with the unregistered o schemes or risk losing their jobs.

    One source detailed that the employees of a financial institution were told that they should declare whether they had savings in any of

    these schemes and then make the necessary arrangements to discontinue the accounts.

    Additionally, the source said that the management of the financial institution threatened that if the disclosure was not made and the bank discovered that any of their employees held accounts, they would be fired.

    However, at least one trade union has warned that the movement would not stand for such actions.

    “Certainly that would not be tolerated by the National Workers Union,” said Vincent Morrison, President and Island Supervisor of the NWU.

    “If they should carry out such a practice it would cause disruption in their operations and we make no apologies for the action that we would take in defence of the workers,” he said.

    Mr. Morrison explained that workers have a right to decide who they do business with. “I would be of the opinion that it is unlawful that can’t be a basis to terminate anyone’s services,” he stated.

    One Cash Plus investor who deposited a cheque said it was returned yesterday by a local commercial bank as “unclear funds”.

    The investor said he was advised by the bank not to redeposit the cheque at the bank but to try and reclaim his money from Cash Plus. Still, many investors with Cash Plus have become irate with local banks.

    One man, who spoke on condition of anonymity, said that because of Cash Plus he was able to survive financially.

    He resigned from his job three years ago and invested $1.6 million in Cash Plus.

    Today, he is able to pay his monthly mortgage of $55,000 and he and his wife’s monthly car payments.

    “When I resigned I didn’t know how I was even going to send my daughter to college, next year she will be able to graduate,” he said.

    Yesterday, he deposited another $2 million into the investment scheme.

    “Cash Plus will not crash and even if they do I will never put back my money into these banks,” he said.

    Other persons who turned out at Cash Plus’ disbursement office in Premier Plaza, St. Andrew yesterday shared similar sentiments.

    Some of the investors said they were annoyed with the public utterances and wanted back their deposits. However, many said they were going overseas with their money.

    Cash Plus has also called a meeting with its clients for today at the Merl Grove Auditorium on Constant Spring Road, St. Andrew.

  674. Yardman said,

    November 24, 2007 at 1:14 am

    UPDATE FROM WORLDWISE

    To make payments to your Partnership account

    Options

    Wire Transfer – For International clients only.

    Please be advised that we have suspended wire transfers. We will notify you as soon as this service is available again. If you have sent a wire a transfer after November 5th, it will be returned to your bank. In the mean time, you can send deposits from abroad via courier. Please call or email for specific instructions on 876-754-WISE or admin@worldwisepartner.com . Please note we only accept cashier’s cheques, no personal cheques.
    We apologise for any inconvenience this may cause.

  675. Dominik said,

    November 24, 2007 at 1:45 am

    #601 VMS … i know the program you are talking about. I have been testing it for a little less than a month now (trying to find the right combination of programs). Also, there managed account is not bad at all (just taxes if you live in the US)

  676. Lambert said,

    November 24, 2007 at 3:45 am

    I would love to be invited into the FX1 Finance Club, and Cash Plus If anyone is a member please e-mail me at lambertquartey@yahoo.com

  677. Lambert said,

    November 24, 2007 at 3:46 am

    Also 601. and 675. please email or post info on automatic trader.

  678. Mr. C said,

    November 24, 2007 at 6:51 am

    Food for thought
    1) What do you guys think would happen if these schemes do a similar thing as the banks and form an alliance?
    2) Or if they decided to corporate and gave CP a line of credit?

  679. Anthony said,

    November 24, 2007 at 9:10 am

    Hi guys
    It is indeed interesting times and from all indications the lack of communication of info from various clubs have basically caused a panic and I assume the orchestrate rs r having a field day. We on this forum have a little advantage and so we should use it to assist in the steadying of the various investment houses where our monies r. Let us continue to be our brothers and sisters keepers and continue to be rebellious towards our oppressors in our fight for financial freedom by passing on info to other members who r not as fortunate as us to access info as quickly as we do. Very few read forums, newspaper so we got to use other forms of communication to pass info. If we continue to panic then we r playing right in the hands of the oppressor and they will never fear us and offer anything better so we have to take the fight to them, if they close the accounts of investment houses then we close our accounts and put it say in the credit union until we get a resolve. The bottom line is they r fighting for our money so let us use it as a weapon, individually it might not amount to much but united we are like David and we can topple the giant. On High yield it is suggested that we continue our revolution process by staying away from the car show being held by a certain bank, let us remember that it took a few took a few slaves to start a process that gave us our so called freedom. This freedom is now being challenged again so let us take the fight to them.
    Spread the word.
    For all spies I know you laugh at our efforts but we shall see how this works out.
    United we stand what say u.

  680. DR said,

    November 24, 2007 at 9:25 am

    Let us fight the Oppressors….Folks it is us that are in charge. They are our slaves…They are our servants….We can move our money to Credit Unions and building Societies for the time being…I say, do not close your accounts at the big bank…Let’s plan a day to withdraw and leave a minimum balance with the “oppressors”.

    Instead of creating a “run on CP”…Let us do a “Run on the Oppressors”.

    What date is good for everybody? What time is good?….

    We can shake their world. I am sick and tired of getting 8% per annum. WHY should I take that anymore while they make over $5million profit per year, and their personal salaries exceed JA$1million per month. CRAZY!

    Afterall it is our money that they are using in order to be seen in the social pages of the daily newspapers. LET US BOYCOTT the OPPRESSORS!!

    (Then again they may boycott our OlintTCI Jazz Festival too in Mobay……ha ha oops.)

  681. chillin said,

    November 24, 2007 at 9:50 am

    LET US STOPP!!!!!!!!! TAKING LOANS AT BNS & NCB AND WHERE POSSIBLE DEFAULT ON ALL LOAN PAYMENT FOR THE NEXT THREE MONTHS AND SEE IF THE BANKS CAN HANDLE THAT.

  682. DG said,

    November 24, 2007 at 11:40 am

    #681 I would not recommend the default on loan part. We all know that we have our obligations. Let us who know better, do better. However, we can possibly use our credit cards less, but ensure to pay on time – because they love when we have to pay credit card interest.

  683. Paige said,

    November 24, 2007 at 11:55 am

    I really believe you guys in Jamaica should follow through with boycotting the banks. I suggest targeting the bank that began closing accounts first and it needs to be done in an organized fashion. The word needs to be passed on and the banks need to be aware that this is taking place. Remember strength in numbers.
    I do my banking at Victoria Mutuals Building Society. Had a Citibank account in Jamaica but closed it in the ealry 90’s when they started asking individuals who reside in the US for Social Security number(equivalent to TRN’s). Not sure why they needed this but I didn’t like the sound or smell of it and I just closed the account (This is an account that my mother started in the 70s). Can you imagine if American banks started asking people who live in JA but have account numbers in the US for TRN numbers. would look a bit suspicious. Any way follow through with the boycott and for those who live abroad do not open any account in JA with any of the banks involved.

  684. Anthony said,

    November 24, 2007 at 11:59 am

    On second thought transferring funds from bank to credit union might not be such a good idea as some credit unions use the same oppressive banks that we want to avoid, however I would like info as to the operations of the building society with regards to excess cash if it is lodged in these banks. Our objective must be to keep our cash from the oppressors. Also suggestion as to other alternative ways of securing cash would be appreciated, accountability is also key to large sums of cash if kept at home in a safe. Never did I think while younger that this day would come when I would have money earned legally and be wondering what to do with same.
    To all investment houses that r genuine in the fight for financial stability to its members I implore you to go to the drawing board and come up with strategies to counter attack the charge because some of us might cower in fear but you have true soldiers in the ranks that will go down fighting.
    Stand up and be martyrs if needs be because never in our life have we been able to make our dreams into reality so easily. Say never to the pen they try to herd us in and watch for a new horizon.
    Better day a come a dat wi want fi see money in a wi pocket a dat wi want fi see.
    I dream for a day when the average Jamaican can step into say KFC with his familly when he chooses and not on a month end. A simple dream like this can not come through if our revolution fails because under the previous system one had to plan and budget a trip to KFC.

  685. Kevin2 said,

    November 24, 2007 at 12:00 pm

    Once again I say tell your friends and family members to go to the NCB and BNS on Monday morning early and take their money out. I agree with DR. Don’t close your bank accounts but leave the bare minimum. Take your funds to the builiding societies and credit unions, anywhere except back in these banks until they back off. They must back off because they can’t withstand that run either. This is WAR!!!

  686. Kevin2 said,

    November 24, 2007 at 12:03 pm

    Everywhere is WAAAAR!! A me seh WAR!!!

  687. Anthony said,

    November 24, 2007 at 12:11 pm

    Hey Patricia u r missed as u could be like Nanny our heroin, wish you could be on the next flight home and help us tek it to them.

  688. DG said,

    November 24, 2007 at 12:20 pm

    #685: I can think of at least one credit union and one building society (that I currently use) who bank with NCB. That is one of the reasons that NCB can take the stance it takes – it is almost in every aspect of finance. It just goes to show that prior to these investments – there really wasn’t any competition in the financial market place. I remember when I hunted around looking for the best rates and conditions for getting a car loan – there really wasn’t all that much variety to choose from.

  689. TB said,

    November 24, 2007 at 12:46 pm

    http://www.minvestment.com/?r=jettt
    try it.

  690. gary said,

    November 24, 2007 at 12:53 pm

    I agree with you 100%. I am going to withdraw 99% of my funds next week. Why should I bank with a bank that refuse to change my check that is going into their system for them to make the profit. I will encourage all of my family and friends to do the same. We must not only talk d talk, but walk the walk. Mi a go walk it! Spread the word, write to the papers, we must use the mass media to our advantage and reach the others who don’t have access to this forum. We must use the media just like they’re doing to guide the other members so we can act as one.

    let’s do it, you guys inspire me. I don’t post a lot but I observe and learn.

  691. Anthony said,

    November 24, 2007 at 2:22 pm

    I just came off the road in community spreading the word and getting good response as a matter of fact a neighbor reminded me that JMMB lodges in NCB and RBTT so this means they r not excluded. I suggest we pull most funds accessible and leave a lifeline on account. Let them know the reason and when we get a resolve we then plan next move. I want to encourage the not so brilliant with money in hand not to mess up re the Christmas rush. Find a way to lock it until the plague of the banks passover.
    For all attending meeting this evening this is the opportune place to spread the word that we intend to counter attack banks starting Monday, for all who r involved and do not share our sentiments remember this is your opportunity to do something worthwhile to encourage our children to not be spineless but have a backbone. United we stand and divided we will succumb to their pressure, lets join hands and if we r victorious I assure the champagne we pop in celebration will taste so much better.
    I have been around for a while in these high risk and I want to assure the younger folks the rewards r sweet and it enables you to bypass the loans to achieve and pay cash. I think the genuine ones r something to fight for. I still however have to reiterate the point not to put all but give your self a chance if the worse happens.

  692. Babs said,

    November 24, 2007 at 2:49 pm

    I am in total agreement in taking our money out of these banks. Send the word out. For those who have computer and printer, print as many posters as you can. Take them to the churches tomorrow, put them up wherever you can. We have to stop these banks. They cannot tell us what to do with our money. We have to fight the system once and for all. If we back down now, they will forever hold us down. We all have to demand changes. I notice the government is quite. They better step in and do something real soon before the masses get really pissed off and start rioting and burning down places. I dont want to see Jamaica go back to those days. We need the banks to back the hell off and let us do what we want with OUR MONEY. IT IS OUR MONEY. They need to realize that.

  693. Patricia said,

    November 24, 2007 at 3:13 pm

    Anthony, you would not know how I FEEL that I’m not there right now….what is going on with the banks now and their feistiness and audacity to tell people what they can do with their money is just p$#@^%* me off!!!……..We dont tell the bank what ventures to go into…we dont get no say in how much money Patrick Hylton, and all the other fly by night bankers get paid in salaries and bonuses, and they want to dictate how people can invest their funds……..RUBBISH, nothing can’t go so, and they must be told by the people’s actions….Monday must be a new day in Jamaica’s history and it is the people who must write it…let the records show that we stood up for ourselves and did not panic and cower in fear because black skin backra raise him whip……All I’m asking is dont do anything destructive, take the day of from work, call in sick, go to your bank, and take as MUCH AS YOU CAN……Go EARLY, STAND IN LINE IN AN ORDERLY MANNER,AND DO YOUR TRANSACTIONS LIKE YOUR LIFE DEPENDED ON IT!!!……Take some in cash and get the bulk in a manager’s cheque payable in your name…keep that in a safe place until you decide where to lodge it…….Be vigilant as we know nuff tief de ’bout waiting and watching……Really sorry I’m no there!!!

    Find out where VMBS banks, and if they are OK, then open an account with them…..

  694. DG said,

    November 24, 2007 at 3:26 pm

    #693 : I took a manager’s cheque from VMBS two weeks ago. Guess whose name was on the cheque…………………………..NCB

  695. DG said,

    November 24, 2007 at 3:28 pm

    Has anybody received communication from Cash Plus regarding this afternoon’s meeting. First I heard it was at Merl Grove. An item on the radio suggested that the meeting is somewhere out of town. Can anyone confirm the location?

  696. HD said,

    November 24, 2007 at 3:42 pm

    VMS/Dominik, can you send me details on this new system please ? hd_731@yahoo.com

  697. Patricia said,

    November 24, 2007 at 3:50 pm

    Well then DG, we’ll boycott them too…..

  698. Carol said,

    November 24, 2007 at 4:26 pm

    I agree with you guys 100% – take your money and go to Jamaica National. These banks are crazy – we will show them who the boss is. I would also encourage all of you to open off shore accounts as soon as is convenient. I am travelling next week and plan to open an account at Bank of America – I hear they don’t require much to open the account. Also, hopefully by mid year ‘08 I can open an account in TCI – that’ where Olint and Maydaisy are registered. I also, here Panam, Cayman are also good. LETS TAKE THE MONEY OUT OF THE COUNTRY!!!!!!!!!! TOGETHER WE STAND!!!!!!!!!!!

  699. JM said,

    November 24, 2007 at 4:34 pm

    TB, I am interested trying minvestment, but am a little confused about setting up the egold ebullion acs, is there a fee associated with using them?

    thanks

  700. don giovanni said,

    November 24, 2007 at 5:09 pm

    @ the cash plus meeting, place pack solid

  701. TB said,

    November 24, 2007 at 5:30 pm

    JM, To set up e-gold and e-bullion is free. you will have to fund these accounts using exchangers for example http://www.e-forexgold.com for e-gold and http://www.anygoldnow.com just to name a few and yes they have various fees. Check them out and see which one is best.

  702. vybzblack said,

    November 24, 2007 at 5:46 pm

    ladies and gents, love the vibes, the spirit and the determination. It’s crunch time lets get ready to rumble, lets all gear up and get ready for WAR. Those blood suckers can’t win our money is the life line for them and we are going make that clear to them. Who the hell these dictators think they , haven’t they see throughout history what happen to dictators, maybe they need a reminder.
    remember what the ceo boy of one bank say jamaican don’t like to work hard, we like the get rich scheme and CASH + won’t last ,soon they will fall heavier than world trade centre, ,now we can all see why he make that statement, they had all the plans in place but for every action there is an equal and opposite one .CASH + is here to stay and we have to ensure that .We are gonner let those blood suckers know that we work honestly for our and we invest where ever we wish, DON’T DICTATE to us where our money must go. a fi mi. PLEASE INFORM US ABOUT THE MEETING. I will be coming home next week to take most of my money out of ncb and their affliates. LETS KEEP UP THE FIGHT AND STAND TOGETHER til the bank boys yield.

  703. Investment Tech said,

    November 24, 2007 at 5:54 pm

    JM,

    it is better for you to use e-bullion as they do not require q third party exchanger. you dont have to invest using gold eilther you can use e-currency.
    and they have much less charges than e-gold aslo e-gold has to many question marks.

    as with any investment do your due diligence.

    i am in minvest for two months now.

    for more info about this scheme please read the previous thread

  704. HD said,

    November 24, 2007 at 6:06 pm

    FYI….my family opened their account with JN recently.

  705. Investment Tech said,

    November 24, 2007 at 6:08 pm

    All lenders and partners let us not give up now. THE SWEETEST PART OF YOUR SLEEP IS JUS BEFORE DAY LIGHT. let not crack from the pressure.

    POor people time now

    I opened my US account at JNational recently. they are very flexible no ties to the fighters

  706. HD said,

    November 24, 2007 at 6:26 pm

    Okay,

    So I know what you guys Dominik/VMS are refering to . I am going to test it for a month or so and see how it works….can’t believe I have used that site so much and never zoned in on this.

  707. HD said,

    November 24, 2007 at 6:35 pm

    Those bank managers really have a nerve. How can they be telling employees what to do with their money. Are we going back to the days of slavery now ! You know it was our own black people who sold us to the the white traders back in the days of slavery and it seems some of those very ones who sold us are right there in Jamaica at the head of those banks. Trying to enslave us for the good of the rich white man who profiting from Scotia Bank, Royal Bank, and who have their money in those AIC mutual funds !….yes I spelt out the names….screw them.

    I guess the bank workers should work their for the rest of their lives , slaving for the banks for and not take a chance with their money to hopefully better themselves and move on to better things. Yes these schemes are risky, but that is none of their business as far as the employee is concerned and what they are doing with their money. Are they next going to tell the employees that they cannot buy stocks on the stock market in another bank ?? If I work for Scotia bank I cannot buy stocks in NCB or JMMB or go abroad and invest in Royal Bank ???….is that what they are going to say next ??? Just for that alone they deserve any backlash that comes their way….Damn communists and Slave Drivers !!!

  708. Patricia said,

    November 24, 2007 at 6:48 pm

    VMS(#601)or HD could either of you kindly email me the link re the AUTO-TRADING SYSTEM….THANKS IN ADVANCE……..meikle61@gmail.com

  709. Hope said,

    November 24, 2007 at 7:26 pm

    Im moved and encouraged by the acts of unity being displayed by participants on this forum. I’ve never really liked NCB for a number of reasons, I consider them to be bullies, and I for one don’t accept being bullied. The best thing now is to flood JN with our deposits. As stated take out the cash from NCB, Scotia and Rbtt and join JN.
    What these banks are presently doing is infringing on our rights. Our right to Choose. Even almighty GOD has given us that right, who are they to dictate to us what to do. Let’s HIT them back with that right, Lets Choose NOT to bank with NCB and the other oppressors.
    Victory here isnt only for Cash + and Olint members, its for everyone, whether or not you invest. Because eventually they’ll be moving on to the other clubs. Caan wait till Monday.

  710. Phillip said,

    November 24, 2007 at 7:30 pm

    Afool, you are certainly an ignorant and short tempered Jackass. I simply asked you a few questions in post 620 and you turn around and attack me. What is your problem? The next time you decide to call someone “not too bright,” be sure that you are not talking to a Physician. I can assure you that with my Bachelors degree, MBA and MD, I am much, much smarter than you are.
    Oh, and by the way, I am on OLINT’s payroll…that is if you consider making over 10% interest a month for the past 10 months to be salary. Further, considering that I have turned US$50K into almost 150K, I would consider my decision to join in these “schemes” to be a very wise one.
    Good day!

  711. DB said,

    November 24, 2007 at 7:54 pm

    VMS (#601) or Patricia (#708): I would appreciate the link to the Auto-trading system as well. Please send an e-mail to riobell2007@gmail.com
    Thank you.

    Best Regards…

  712. Skeem said,

    November 24, 2007 at 8:01 pm

    Theology school to train pastors in forex trading – As church involvement in investment schemes deepens

    http://www.jamaica-gleaner.com/gleaner/20071123/business/business1.html

  713. AJ said,

    November 24, 2007 at 8:11 pm

    JN also banks at NCB. Remember that Investment houses, Building Societies and Credit Unions do not have a clearing house so they must have an account with a commercial bank. They bank with NCB, BNS, RBTT, FCIB, FGB, or Citibank. When you boycott the commercial banks and move accounts to Investment houses, Credit Union and Building Society those funds are deposited into a commercial bank but they do not necessarily stay there. That gives those entities the opportunity to invest more and to lend more to their customers. Boycotting them may not be a good idea.

  714. ALGO said,

    November 24, 2007 at 8:24 pm

    Any word on the Cash Plus meeting this afternoon?

  715. alicia said,

    November 24, 2007 at 8:49 pm

    Just got back from the cash plus meeting, as expected the place was full. In a nut shell it was basically the same info as the last meeting, only this time he is asking investors to hold strain and on play into the detractors hands by having a run on cashplus, as it is the investors that holds the company up with their loans and allows them to acquire the asset they have.

    He also gave a few plans that they have in the pipeline, the call centre to address question from investors, a newspaper about the size of the star to keep you updated, a three in one programme that will include internet, phone and something else that unfortunately I did not catch because of the cheers of the crowds and other palns that you will be informed about, their will also be regular meetings on Saturdays also to keep the investors updated.

    He will be doing a one hour special on TVJ tomorrow at 5pm and on JNN at 8pm, I noticed he did not mention CVM for the special(Lee Chin connections).

    The overall mood of the crowd in my opinion was no one will be moving their money any time soon and Hill is taking the fight to them he is not backing down. One presenter suggested that the investment scheme operators all come together and form an association and they the fight to the detractors as their is power in numbers.

    Personally I will not be pulling my money, my first cheque is due on the 31st so I am going to watch and see how everything palys out, I would not be able to pull the money anyway as it is locked in for 3 months.

    Anyone else that was at the meeting can give there two cents.

  716. Patricia said,

    November 24, 2007 at 8:55 pm

    AJ, that maybe so but a significant loss in their deposit base will negatively impact them. They will also lose significantly from the fee based income..look at NCB bal sheet….much of their profit is attributable to fee based income…much of the increase in their income was generated from internet banking charges……and another thing the boycott will do is create distress for them as they are now doing for many…..they are TOO HIGH HANDED AND CALLOUS, and they need to understand the new order…they DONT RUN THINGS….THEY NEED TO GET WITH IT…..

  717. DG said,

    November 24, 2007 at 8:55 pm

    Cash Plus will soon be launching a triple play service called Megasoft. Internet, Cable and I believe telephone

  718. DG said,

    November 24, 2007 at 8:57 pm

    They are calling for a solidarity meeting at Premier Plaza on Thursday at noon

  719. DG said,

    November 24, 2007 at 9:00 pm

    There will be a one hour special on TVJ featuring C+ at 5pm and a repeat on JNN a little later – don’t have the notes with me – just typing what I remember

    We had a feast on donuts, sandwiches and juice

  720. DG said,

    November 24, 2007 at 9:04 pm

    There were also incentives for additional referrals.

    A number of people said that they had not received their considerations for November. It seems that people should expect some delays this month.

  721. AJ said,

    November 24, 2007 at 9:13 pm

    #716 Patricia. When I said “Boycotting them may not be a good idea ” I was referring to the alternatives to commercial banks, i.e. Investment Houses Building Societies and Credit Unions. A number of persons have been advocating a boycott of these alternatives.

    The same squeeze the commercial banks are feeling because depositors funds went to Cash + Olint, World Wise etc. it is the same squeeze they will feel if depositors moved their money to other alternative entities. Although Cash + Olint, World Wise etc. maintained accounts with commercial banks (just like Building Societies, Credit Unions and Investments Houses) those funds only “passed through” commercial bank accounts to go to other investments such as FX trading and real estate.

  722. vybzblack said,

    November 24, 2007 at 9:16 pm

    Patricia, VMS,HD .I’m also interesting in that link for the auto trading system. you can e-mail me at vybzblack@yahoo.com Thanks in advance

  723. lover said,

    November 24, 2007 at 9:32 pm

    did they mention anything about the international credit / debit card at cash plus meeting ?

  724. DG said,

    November 24, 2007 at 10:19 pm

    #723 :Only to say that they would be issued starting next month

  725. DR said,

    November 24, 2007 at 10:42 pm

    When are we starting the boycott?

    I started along time ago….from as way back as March….I emptied all my bank account and put the money in clubs…..

    Dem after every club in JA. from “Achievers to Z..m”……..Olint, C+, WW, Higgins and the “exclusive ones” that are registered in Turks….oh YES….

    We may have a little problem though Partners, lenders and Bloggers…In that even if we are given a international debit card by our clubs…..can we really use “multilink”…Rumours have it that “multilink’ is owned by NCB…..

    Is this true?

    We can use Fedex to bring down the cheques from Panama, Turks, Dominica to us here in Jamaica. We can then put the chqs in Building Societies but we will have to wait 45 days for them to clear….

  726. DR said,

    November 24, 2007 at 10:51 pm

    The Oppressors are WICKED…..imagine they made over $6million dollars, that they are now using to “trade” for themselves…..yet they don’t want us to trade.

    It caan work so…..Bill salary alone is over $10million a year…..Michael has his own helicopter…..

    LETS BOYCOTT….Let’s write letters in the newspapers….Let get out there and have PEACEFUL demonstrations on Knutsford Boulevard (right at the top).

    Let’s ask our HEROES (DavidS, CarlosH, “D”, Mr Strachan, Pusey and the others) to join forces, and speak to our Chief Servant. Afterall, he said” Everybody might not be rich but no one has to be poor”….

  727. DR said,

    November 24, 2007 at 10:52 pm

    Congrats Andre on the time correction…..big up

  728. Adrian said,

    November 24, 2007 at 11:00 pm

    Can someone please give me a referral to May Daisy, this bank thing is crazy, they want to keep paying out these measly returns and expect people to keep them money with them.

  729. Patricia said,

    November 24, 2007 at 11:07 pm

    DR, multilink owned by JETS, of whch FCB, NCB,BNS RBTT & VMBS &JN are all equal owners……so yes they maybe able to thwart use of a C+ card on their system, we’ll have to see how this works out

  730. Marsha said,

    November 24, 2007 at 11:32 pm

    HD, VMS or Patricia:

    Please send me the link for the auto trading system. My email is
    maxhug920@yahoo.com. Thanks in advance…

    Folks, show up in numbers on Monday and make your actions be heard!!

  731. Don Giovanni said,

    November 25, 2007 at 12:17 am

    I didnt have a feast, they ran out of cups so i didnt get anything to drink :(
    didnt bother with the dry food :( :(

    Well basically i like what i heard, but i have some concerns with the triple play; smart move.. yes. But the market is a bit saturated with CWJ, FLOW, the other cable companies.. unless they’re gonna be acquiring companies like flow does.

    If it works, cashP can make some change from it for sure..

  732. Beth said,

    November 25, 2007 at 12:39 am

    ‘I VIOLATED UNITED STATES LAW’ – But the gov’t returned my money, says Cash Plus boss
    published: Sunday | November 25, 2007

    Garwin Davis, Sunday Gleaner Writer

    He has been called the mystery man – the person behind several acquisitions totalling in excess of J$5 billion over the last six months alone!

    But with these investments and the rapid rise of his five-year-old company – Cash Plus – comes the question which seems to be on everybody’s mind: Who is Carlos Hill?

    “I am a banker by profession, who, borrowing a quote from author Napoleon Hill, believes that ‘whatever the mind of man can conceive, it can achieve’,” Hill tells The Sunday Gleaner. “I believe in the Jamaican spirit and I believe in Jamaica. This is a wonderful time to believe in Jamaica.

    Cash Plus provides the opportunity for more people to accomplish their goals, both personally and financially. And if anything, our situation is getting better with each passing year.”

    Is there any truth to rumours that he ran afoul of the law while residing in the United States? “Yes, that’s true, but it’s nothing that I cannot stand up and defend,” Hill responds.

    “My family migrated to the United States in 1967 where, at a young age, I ended up in banking. I worked with one of the largest minority banks in New Jersey, where later on, I would end up being the president. I eventually got bored and got my own company.”

    He continues: “We were doing portfolio loans and were very successful at it. We would later run into problems, in that, we loaned out too much money and weren’t able to fulfil some of our obligations. I was in violation and the U.S. Justice Department asked me if I would cooperate. The year was 1986. If you have never had a failure in life then you will never be able to appreciate what true success is.

    “I have learned from that ordeal and I am a much better person today. The U.S. authorities shocked me by giving me back my loan portfolio in the end, and I have made good use of it.”

    Asked whether the recent high-profile acquisitions, such as the Hilton Kingston hotel, Drax Hall Estate and Mainland International, were solid business deals in the sense that they could generate enough money monthly to keep Cash Plus in business, Hill responds: “Yes, our businesses generate enough by way of profits to satisfy our client base.”

    Array of businesses

    He adds: “It is not only those acquisitions we would be depending on. That’s the mistake our detractors have been making in trying to find out our trade secrets. We are also involved in food distribution throughout the Caribbean and also in North America. Our returns on that are huge.

    “We have built up an array of businesses, as is evident by our foray into areas such as telecommunications, finance, hospitality, gaming, real estate, air transport, and now hardware.

    “You tell me, prior to these problems that are certainly no fault of ours, have you heard any of our customers complaining about Cash Plus?”

    Hill continues: “Cash Plus is only five years old but, as we can all see, we are not afraid to take on what some may view as the impossible. Once we have done our due diligence and we conclude that a deal is feasible, then we apply the laws of the marketplace. The market is where buyers and sellers of products and services meet and if we feel that we can be profitable in our acquisitions, then more often than not, we will be interested.”

    Final payments

    But what about those who say that the announced acquisitions of Mainland International for J$420 million (US$60 million), Drax Hall Estate for over J$7 billion (US$110 million), and the Hilton Kingston hotel J$320 million (US$42 million), have not been finalised? “It pains our detractors to admit that Cash Plus is the largest development company in Jamaica today,” Hill asserts.

    “The Hilton will be paid for in full within the next nine months; Drax Hall is an exciting new project that will be paid off in full by next October, and the same thing goes for Mainland. We are not a debt-ridden company. I don’t believe in debts … I don’t like owing people. I will not sit back and allow people to defame Cash Plus anymore,” he states.

    And to those who remain convinced that his business methods are so unorthodox that it is difficult to see how they could be sustainable? “Not because a method has never been tried before means it is unworkable,” Hill argues. “Our detractors will find every way to try to beat us down but as you can see, that strategy has been failing miserably.”

  733. Beth said,

    November 25, 2007 at 12:40 am

    Above : from the Sunday Gleaner

  734. Anthony said,

    November 25, 2007 at 12:49 am

    It is a tek it or u no hear say u fi tek it ting the bank deh pan. Well I am just coming off the road and I am proud to say that I have rallied up a few of the troops and we are now anxiously awaiting Monday morning to start tek it to dem.
    From what I am reading the vibes nice and the confidence is there, remember one one cocoa full basket so no matter how small the account is pull the majority and leave a little in case they start co operating and u want to reimburse the account. PLEASE BE DISCIPLINED WITH CASH IN HAND AS IT IS CHRISTMAS AND ONE COULD EASILY GET CARRIED AWAY WITH SPENDING

    For all readers who might not be troubled by what is being forced on us we beg u to join hands with us in a fight for a worthy cause because if we as a nation allow a few dictators to manipulate us in order that we remain slaves to their LOANS,HIGHER PURCHASE, MORTGAGE etc then one day it will come back to haunt u. I am fortunate to buy most things cash and I can assure you that cash is not appreciated like higher purchase that is the system that was set up to help the poor and is now being exploited to keep us as slaves. Corporate Oppressors careful because we have seen the light.

    Well wishers family friends let us unite as a people and set our destiny that if one day we are seen eating say chicken back or red and white it is because we choose to eat same and not because we do not have a choice.
    That is what financial freedom is about and I will continue to fight for this because I intend to set a proper foundation like the any other man or woman for my generation to come.

    From experience no manager of a bank likes when an account is closed, the key thing is to relay the message to teller and if a supervisor or manager is seen be vocal in an intelligent way and get across the motive of transaction. Remember the money is yours so be not afraid, or discouraged by their fake smiles, they r just doing what they were taught to do, also remember some of them r in our corner too so be as pleasant as possible. Our objective is to take the money and for them to know y we r taking it.

    Fellow Jamaicans this is not about cash plus, olint, wwise etc anymore this is about our freedom that was given to us by our ancestors with blood, sweat, tears and their life, it is now our time to represent for our children and their children. SO I URGE U TO STAND UP FOR OUR RIGHTS.

  735. An Observer said,

    November 25, 2007 at 12:56 am

    # 710

    The original Philip is certainly semi-illiterate. All one has to do read his post. And you the author of # 710 who pretends to that character has no credibility. In fact, you have vested interested in C+ and so undoubtedly you are making a mighty effort to discredit anyone that are not deceived by the scheme, that Afool character in particular who dare to speak out. And as far as your so called degrees are concerned, they only exist in your idiotic mind.

    For your scheme to continue to exist, it has to be profitable. This means it’s revenues has to exceeds it expenditures.
    Put it simply -> Profit = revenues – expenses

    Let’s take a closer look: In this case,
    Revenues = lender’s deposits + incomes from businesses (if any)
    Expenses = monthly interest payments to lenders + withdrawals by lenders + overhead.

    Recent developments strongly suggest that lender’s deposits are beginning to dry up. To make matter worse, members want back their money… What does all this implies? Draw your own conclusions!

  736. Don Giovanni said,

    November 25, 2007 at 1:00 am

    Auditorium:

  737. DW said,

    November 25, 2007 at 1:59 am

    OBSERVER THE SPY,tell your fellow OPPRESSERS that the day of RETRIBUTION is MONDAY 27,if you are not with us then you are AGAINST US, and will FALL with the MONOPOLISTIC EMPIRE. There will be a FINANCIAL REVOLUTION in JAMAICA.

  738. Phillip said,

    November 25, 2007 at 5:32 am

    LOL…. An Observer aka AFool!
    Try not to be as evident next time! You must be even dumber as ‘An Observer’ than your alter-ego ‘A Fool’. If you wanted to establish another character to insult people and support yourself, so not do so on your first post. It seems rather strange that on your very first post to either this or the old blog page, that you would be such a staunch supporter of AFool, the only supporter of him in fact.
    I think your name is extremely fitting, because you well be ‘An Observer’ while the rest of us are moving on up and making money.
    And I’m sure you wouldn’t be insulting me if you were rolled in to my emergency room on a stretcher.
    Good day

  739. Paige said,

    November 25, 2007 at 5:51 am

    Phillip
    To be honest, as I read that post made by the Observer, I too thought it was “A Fool ……..” hiding behind another name.

  740. Anthony said,

    November 25, 2007 at 9:20 am

    The only problems we use to have with cash plus was a little error here and there which was resolved eventually, waiting because of the crowd who were also trying to better their lives and sometimes late payment of interest.
    I have to admit that these were minor because it all came with the rapid growth of the company.

    From early we were discouraged by the banks, financial experts the works but we persevered and decided to try something different and for all who ventured found out that this group of companies made us the small man walk with a little more confidence because finally their was some hope. I will continue to say how proud I feel when I see all the acquisition and to know that I am not only a part of it but on a monthly basis I am reminded by the company with my interest.

    Carlos Hill so far is sharing his dream with the common Jamaican and this reminds me of the dream Captain Horace Burrell had and the joy we felt as a nation when we went to the world cup.
    We must not be our worst enemy by biting the hand of the man who is our financial savior no we must rally the troops and give Mr Hill the desired advantage of knowing he is not alone on the gully side but has 40,000+ strong willing to brace the charge of the Oppressors. Let us be creative in the financial battle and use the best weapon we have our MONEY.

    I also remind you that the logics of cash plus is that a lot of our money was spent acquiring businesses and properties so let us be careful how we run for the balance of money because we and only we at this time can turn over the milk. The big boys of this country r trying to use us like pawns to win the battle let us resist and turn the tables on them. For all who ran early on cash plus have a little loyalty and cancel request return some of the money, If this thing is going to fail let it fail on its own but do not be used as pawns to crash our light at the end of the tunnel.

    If our efforts tomorrow works it will make a nice story to tell our grandchildren about our resilience to slavery by the oppressor. Let the oppressors shiver at the thought of losing all the business that they depend on us to survive. Let them meet us on a level playing field and know say we tired of being forced to accept their annual pittance. After all a our money them a lend and a mek tonnes of money and then come brag and a tel wi how much them mek per quarter.

    March out tomorrow morning bright and early and let us tek it to them. A financial revolution is dawning.

    Olint troops march out
    Worldwise troops march out
    Higgins Warner troops march out
    All other troops to include the Christians march out

    Sound the trumpet and let the financial war begin.

  741. Joelle Clayton said,

    November 25, 2007 at 9:22 am

    with regards to the debit/credit card c+ will also have machines available at their offices. but how effective will that be to serve their large and growing client base? and i think that once the machines have the “multi-link” sign we they cannot stop one sent of cards from gaining access. i know that jmmb for eg. has machines which will only accomodate jmmb cards, but multi-link is completely different. i think that there might be a very HIGH charge associated with using the “bank’s” machines though… waiting to see how it turns out.

  742. HD said,

    November 25, 2007 at 9:26 am

    Hey Phillip,

    Noticed that he could not touch Olint which you asked him about originally.

  743. Patricia said,

    November 25, 2007 at 9:55 am

    Listen to this one now…mi head ah hurt mi….cause these people really upset mi….now when OLINT gave St. Joseph Hospital the dialysis machines..why did they accept it??, if the source of the money was tainted..why the Minster of Health allowed them to accept such a gift???….why did VMBS(so it has been circulating) approach OLINTfor financial assistance when they brought Venus and Serena Williams to JA for the Tennis Coaching Clinic, if OLINT into suspicious financial activities, why did the GOVT (the Ministry of Tourism) not intervene and strongly warn/advise TurnKey Promotions and Air J, about having OLINT as a super Sponsor for the JAzzFestival, since their money suspicious…..Why the juice, is CashPlus sponsoring Premier Leaugue Football……And For crying out loud why is the Government so silent on this debacle???????, what happen?????? are they fraid the details of the campaign funding going to be fully disclosed…what is going on????

    Tomorrow, when you finish at the bank, or even while you in line call MUTTY PERKINS, CALL BARBARA GLOUDEN, If you are overseas call on the toll free lines….limit yourself to 3-4mins… get your pount across and then go, so others can get on…….discuss what’s going on…send emails to perkinsonline@cwjajamica.com about these things….because the peoples’ voice must be heard………..This is a very serious thing and it is not as simple as the Bankers Association is trying to make out……they have never before had any concern for peoples welfare and their $$$$, this is simply scandalous.

  744. HD said,

    November 25, 2007 at 10:00 am

    hmmm…. wonder what will happen if poor people can’t call dem relatives abroad because Megaphone’s corporate bank account closed.

  745. Poor Risk Taker said,

    November 25, 2007 at 10:38 am

    They really think they have us in a corner eh… but I support you guys wholly.. they need to be taught a lesson as much as one of the “OPPRESSORS” is my employer…they are trying to use a round about way to bring the various “schemes” as they call it down… why mess with it.. since they are sure it’s gonna fail, why not leave it to it’s own vices and not try to help it along… but no, they really are afraid that it will continue to work, even if only for a time… LEAVE US BE!

    as Patricia said, why is the govt allowing them to get involved n so many things since they are supposed to be of ill-repute, with it being also alleged that they themselves may have directly benefited through campaign contributions.. it just sickens me when I think about it…

    it is a dirty thing, it is a wrong thing, its not right for the people but the only words we have heard from anyone with a governmental brand is that we must pay taxes.. what kinda crap is that.. and then we cannot hear the so-called “honorable” Ministers coming out to say anything on the matter as yet…

    I realize they were trying to remain on the fence, but it cannot work, it’s time for them to say something.. we need to hear their take.. its in their best interest.

  746. lover said,

    November 25, 2007 at 10:39 am

    can someone please refer me to lewfam investment club. I would like to spread the chips…. I am desperately in need of a referal, since i took out all the money out my account ( protesting against the banks latest actions against the club). I hope everyone will follow..
    unitedwereach@yahoo.com

  747. Greed said,

    November 25, 2007 at 10:50 am

    This blog has become something totally different than that it was intended for. Afool and Observer, you guys should find some other place to bitch!

  748. Poor Risk Taker said,

    November 25, 2007 at 10:50 am

    They behave as if they are so interested in the poor people’s fair… I heard one on NationWide saying how they were so “concerned” about the poor, those who have sold houses and cars and those who have took their savings from the bank to invest in these “schemes” .. how much they have their interest at heart… that may be true in some extent in that there some risk-averse persons who got themselves in too deep and know that them heart cant tek it.. and these are the persons that are not normally loyal to the cause.. but hey you know what you get yourself into and the high risk of the situation and as been said so may times on this blog and other places and in the media.. Never risk more than you can afford to lose and if your averse to risk stay away…

    what about me, i am a young person of 27 and the light at the end of the tunnel looks very dark for me and I don’t consider myself to be the poorest of the lot as there are many who are still worse off than I am.. I am trying to make things better for myself.. I want a house, I want a car, as a matter of fact we all want these things plus to live comfortably after that.. I work my ass off everyday to try and attain that comfort which always just seems to be in distance the nearer you think you are getting to it… I have made a very informed decision, risked what I can afford to lose and am riding he wave and you want to tell me that I CANNOT, I MUST NOT, do what I want with my money …. absolutely absurd….

  749. Poor Risk Taker said,

    November 25, 2007 at 10:51 am

    #747 here, here to that

  750. Babs said,

    November 25, 2007 at 11:27 am

    Anyone know the phone number for Mutty Perkins and Barbara Glouden?

  751. Hope said,

    November 25, 2007 at 11:48 am

    Folks United we Stand – I hope you are ALL very serious about these plans to strike back at the oppressors. We have talked long enough, its time for action. We need to RISE up as a ppl and stop cuss and complain.
    One thing I noticed about J’Cans is that we not united, and because something dont affect us today we dont business – we dont practice being our brothers keepings. Well 2morrow we will show them. Its a new day ppl. See the TOLL a PORTMORE deh, We need fi fight this thing.
    FIRST stop for mi 2morrow is NCB. the HEAD OPPRESSOR
    A wonder if we can call up TVJ to do a session on this in Your Issues Live ?

  752. shotta said,

    November 25, 2007 at 11:52 am

    A fool is usually called a jackass and old time people used to say “when jackass a hang him self give him more rope”

  753. Kymn said,

    November 25, 2007 at 11:56 am

    http://www.jamaicagleaner.com/gleaner/20071125/business/business3.html

    Is the BOJ saying that you need their approval to do foreign exchange trading?

    Any comments/thoughts/lights to be shed on this one?

  754. lover said,

    November 25, 2007 at 12:08 pm

    #753 so what they are saying if i am trading on my own i need authorization ?
    Jamaican authorities are afraid of there shadowss

  755. AJ said,

    November 25, 2007 at 12:09 pm

    EDITORIAL – Financial imbroglio heats up
    published: Sunday | November 25, 2007

    In other circumstances, we might have argued that matters should be left to the law and the market and allowed to run their course. But a large number of relatively poor Jamaicans are at risk and Finance Minister Audley Shaw cannot escape his responsibility to speak clearly to the issue. Indeed, it would be immoral for Mr. Shaw to attempt to quietly extricate himself from the affair.

    For he will recall that we warned in these columns several months ago that he might be creating a moral hazard for himself should his party become the Government and he was given, as expected, the portfolio he now holds.

    Our concern, of course, is the imbroglio between their bankers and those two organisations, Cash Plus and Olint, that operate what are now referred to a investment schemes. Both outfits brand themselves as investment clubs, guaranteeing their ‘members’ returns equivalent to 100 per cent, and more, per annum.

    For a long time, both institutions have been at loggerheads with the Financial Services Commission (FSC), which regulates non-bank investment companies.

    The FSC has insisted that these organisations fall under its purview and that, as traders/advisers in securities, the law demands that they be registered and their operations be transparent. At least in the case of Olint, the matter is now before the courts for determination.

    In the meantime, both the FSC and the central bank have been warning of the dangers of Ponzi schemes and telling Jamaicans of the risks associated with offers of extraordinarily high returns.

    What is new is that during this past week, both Olint and Cash Plus have claimed that their bank accounts in Jamaica have been blocked, or that their bankers have made it difficult to access funds.

    Information has circulated, too, that banks have been reporting to the authorities transactions on Cash Plus’ accounts in accordance with the requirements of the Money Laundering Act. Other financial organisaions have also become involved in the situation.

    It all remains fuzzy. No one is bringing clarity to the issue. The only people speaking in any specific fashion are the managers of Cash Plus, whose argument, essentially, is that life is being made difficult for them by jealous banks that had been losing deposits to thes investment schemes.

    In the case of Cash Plus, however else the group may raise money, it has a lot of poor people’s cash from small savers tied up in its investment schemes. It is this class of people, those who can least afford it, who will hurt most in the absence of access to their money or, if the schemes ultimately fail. It is assumed that people who have put money in Olint have greater cushion.

    Of course, agencies like the FSC and the central bank will be in a position to argue that they have long warned of the potential dangers. Mr. Shaw, however, can make no such claim. He, in fact, did quite the opposite.

    It will be recalled that Mr. Shaw, from the Opposition benches earlier this year, complained of the former government making life difficult fo investment schemes and accusing the then administration of stifling entrepreneurship.

    The finance minister must say if he still holds this view; whether he feels the regulators are engaged in undue harassment; and what, if any, support investors can expect from the Government.

  756. AJ said,

    November 25, 2007 at 12:18 pm

    #743 Patricia you are absolutely correct. These schemes are used to benefit the nation when it suits them but they are not considered legitimate (because they are a thorn in the flesh of the commercial banks).

    I think the government is in a pickle with this one…….Anyone heard of the US$1m campaign funding for the September 2007 election? or of the recently appointed Minister who traveled on Dave Smith’s jet to the small island to attend the Sandals Luxury hotel function? No wonder the government is silent!!

  757. AJ said,

    November 25, 2007 at 12:21 pm

    Bay the way Patricia do not send up your blood pressure, just pray for justice as God wants justice in any situation.

  758. Patricia said,

    November 25, 2007 at 12:30 pm

    Yes Audley Shaw needs to speak up. Also the media must stop giving misinformation..OLINT never guaranteed anybody 10% per month..why is it that people in the media keep spreading that crap……look at the returns since ‘04.to now. There have been lows of 4+% and returns of 8+ and up tp 14%….which is typical of fx…,so stop confusing C+ with OLINT

    Tel#s for Perkins Online – JA 968-4901-3
    TOLL #s – 1 866 5465 106
    TOLL FREE USA – 954 535 5761/954 535 5762
    TOLL FREE UK – 0207 708 6670/ 0207 708 6672

  759. Patricia said,

    November 25, 2007 at 12:33 pm

    AJ, I just got back from church and enjoyed my daudghter’s sunday school performance..the lesson was on Daniel in the Lion’s Den….can you imagine that!!!….I am fine now…Peace

  760. Mellonie said,

    November 25, 2007 at 12:41 pm

    Hi Patricia
    #743
    Good observation…….!
    Regardless of how charitable Cash Plus and OLINT have been; nobody questioned who, where, what, why or how the funds to support these events were acquired.
    Not surprising though, all of us have contributed to those events. I must now wonder if Patrick Nelson (VMI), St Joseph Hospital (Minister of Health), etc… will have a voice of support against the banks who have decided to close our accounts.

    Do you think State Minister of Agriculture, Errol Ennis may have anything to say about all of what’s happening with these banks?

    Remember in his letter to Jamaica Observer; statement that blasted the raid on the investment club’s (OLINT’s) headquarters by agents of the FSC and FID almost got him in trouble with his colleagues; he got a little quiet after that. Back then he was the only bravest one to say something in the faces of FSC and FID.
    Buoy!……….Buoy! ………I taught that they would crucify him……! Nobody else said a ting………! I wondered why….. Do you think others were afraid to step up to the plate in support of the community helping themselves for financial freedom? Yea, right! ………LOL on that one!

    It could be reassuring to hear from some of the Politians that are in office who can intervene on the decisions to closing our accounts and reach an amicable business agreement for our club to keep accounts/transactions active.

    The banks want people’s funds to function, manager’s mek big salaries from it and other things, so…… y cant dem mek we prospa little wid wey we a mek?
    Not a good idea to close their doors on us at all.

    Later.

  761. Anthony said,

    November 25, 2007 at 1:09 pm

    Our strength is in numbers so let us just not talk the talk but walk the walk. I dont know about you all but I can feel the adrenaline pumping and anticipate the dawning of Monday morning. Take a friend take a neighbor, let us roll out and be patriotic to the cause.

  762. Joelle Clayton said,

    November 25, 2007 at 1:11 pm

    They can’t stop us now we’re informed and we know who REALLY has the power, so we will just act accordingly…. Yes Monday shall be judgment day for the BANKS. What next they gonna say we “cannot” get our money?????? For every shot dem fire we have to fire back… Now we know that all who talking bout “BUILDING A BETTER JAMAICA” just talking about one set of Jamaicans and not really with the poor but we’re gonna serve them a sauce!

  763. HD said,

    November 25, 2007 at 1:19 pm

    BOJ is purposely trying to confuse and scare people. Saying that you need approval from them to trade forex is like saying that you need their approval to trade stocks even though you are not the broker. Or maybe I am misinterpreting them.

  764. Patricia said,

    November 25, 2007 at 1:32 pm

    Whoever at BOJ made that pronouncement is so dark & fool fool……where in world is fx regulated so that an individual on b1/2 of himself can’t trade fx w/out a licence????? how do u intend to stop that????, from you have $, bank account & internet access you can trade fx. Is like saying unless you have a licence from Betting Gaming & Lotterires Commission you cant place a bet on a race horse at Caymanas Park, or you cant buy a lottery ticket……If they mean to say people need to be licensed as FX Brokers that is entirely different, and they need to amend the relevant pieces of legislation and stop spouting nonsense…and then we talk rubbish ’bout first world standards!!!!!

  765. DR said,

    November 25, 2007 at 1:48 pm

    Yes FOLKS I am ready…..Tommorow is November 26….The DAY!

    It is our time to shine…..show dem who is the boss….Sorry I can’t join you all as I have already taken out my money…..I have placed ALL my money in investment schemes….I will be enjoying that decision next year!

    We shall call Mutty and BarbaraGloudon: We shall write letters in teh Gleaner and Observer….We want a Better Jamaica Michael and Bill. Come on, get with the program.

  766. DR said,

    November 25, 2007 at 1:52 pm

    I agree that all clubs need to set up thier own ATM machines, that has no link to “MUTILINK”…..just like JMMB.

    That way we’ll be on our own……

  767. DR said,

    November 25, 2007 at 1:57 pm

    So the list of Oppressors are growning….WE SHALL WIN THIS BATTLE even if I have to take a plane to Turks, Dominica etc…..we shall have the victory

  768. Joelle Clayton said,

    November 25, 2007 at 2:06 pm

    I wish i would be able to see the look on “their” faces tomorrow when they see Jamaicans bonding together and acting UNITED and not killing each other to tek our money out c+ or other “schemes” but doing the reverse! Too long dem use “reverse” psycology pon wi! It nah go so dis time!

  769. Mellonie said,

    November 25, 2007 at 2:09 pm

    Family bloggers when you go out to these banks tomorrow ask God for guidance in all of our decisions and pray for the oppressors too.

    A HANDY REFERENCE LIST OF EMERGENCY PHONE NUMBERS:………..:-)

    When you think of investment and returns……call Mark 10
    When you want courage for a task………… ….call Joshua 1
    For how to get along with fellow men………call Romans 12
    If you are losing confidence in people…..…call I Corinthians 13
    When you grow bitter and critical……….…call I Corinthians 13
    When you worry……………………………..call Matthew 6:19-34
    When your faith needs stirring……….…….call Hebrews 11
    When you want peace and rest……………call Matthew 11:25-30
    When God seems far away…………………call Psalm 139

    Mi know that we will get through dis one… in harder times than this our ancestors never leave without a word from “The Good Book”
    AMEN

  770. chillin said,

    November 25, 2007 at 2:14 pm

    LOOKING CLOSER I THINK THIS IS WAR BETWEEN THE BANKS AND THE GOVERNMENT, SINCE OILINT IS SAID TO BE COMING BACK IN JANUAURY, THEY MUST HAVE GOTTEN APPROVAL FROM THE GOVERNMENT AND THEN THE GOVERMENT START ADVERTISING ABOUT TAXATION, I THINK THE BANKER FELT THEY WERE GOING TO LOOSE OUT BIG ON THE DEPOSIT WHEN THE SCHEMES BECOMES MORE LIGITIMATE, THUS THEY TOOK IT ON THEMSELVES TO TRY TO RUN THEM FROM THE COUNTRY. WHEN THEM RUN FROM THE COUNTRY IT WOULD BE HARDER TO TAX THE PEOPLE, THUS THE JLP GOVERMENT WOULD LOOSE OUT, THE COUNTRY WOULD LOOSE OUT FROM THE BENIFIT OF THIS INCRESSE TAX INCOME, SO THEN IF WE PULL OUT OUR MONEY AND TAKE IT OFFSHORE THE BANKS WOULD WIN, MAYBE THATS THERE INTENTION. BILL CLARKE HAS NOT HIDE THE FACT THAT HE IS ALIGNED TO THE OTHER PARTY, SO A CLEAR EXAMPLE OF PUTTING THE PNP POLITICS OVER THE BETTERMENT OF OUR COUNTRY AND PEOPLE.
    WITH THE AMOUNT AND PROBELMS & DEBT THAT THIS COUNTRY GOVERNMENT NEED ADITTIONAL MONEY TO GET US OUT. LOOK WE CAN STILL EARN A HIGH INTEREST AND PAY TAXES, ONLY HOPE THEY DO NOT COMES WITH PENALTY AND BACK TAX.

    BILL CLARKE SAID THAT JAMAICA IS A FAILED STATE, BUT HIM AND HIS BANK ARE MAKING ALOT OF MONEY, THEN TAKE US JAMAICAN FI FOOL. MR SMITH FROM OLINT SAID HE HIS WILLING TO HELP HIS COUNTRY AND WILL TRADE FOR THE GOVERMENT, SO IS THIS A MOVE ON THE PART OF THE JLP GOVERMENT TO BRING THEM BACK IN JAMAICA, SO HE CAN START HELPING US. LOOK INTO IT????????????????????

  771. HD said,

    November 25, 2007 at 3:23 pm

    AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC AIC

  772. HD said,

    November 25, 2007 at 3:38 pm

    That was for the Google Bot and the AIC detractors looking for something

  773. nick said,

    November 25, 2007 at 3:46 pm

    I think the new government should sack the head of BOJ and the rest of the fool fool people them that are making policy that doesn’t benefit the country. Bruce we know “dem dark bad.” The FX industry is so huge and profitable and yet we putting up so much fight to stop it. No wonder the Jamaican dollar going down to nothing.

  774. Paige said,

    November 25, 2007 at 3:59 pm

    HD
    I’m lost. What is #771 referring to?

  775. AJ said,

    November 25, 2007 at 4:25 pm

    Seems like someone is using HDs name to create confusion???

  776. HD said,

    November 25, 2007 at 4:38 pm

    I guess I got a little carried away…it was just before Sunday dinner and I was hungry….now I am full, a few beers and all.

    The google bot is the program that goes out to web sites and index the words that are on the web site in it’s search engine. The more often it finds a word on a page the more likely Google will bring up that page when someones searches on that word , like AIC in this case.

    My problem is that Michael Lee Chin owns AIC and he uses that money to buy NCB. I wish people who are investing in AIC mutual funds can see what he is encouraging in a company that he owns in Jamaica. Thats is, to oppress the workers, violate labour laws, and using power and influence to dictate where people should invest their money.

  777. DR said,

    November 25, 2007 at 4:52 pm

    TVJ at 5pm, Carlos & Cash Plus

  778. HD said,

    November 25, 2007 at 4:52 pm

    I guess everyone is at the dinner table now.

    Anyway, I would suggest that if we really want it to hurt we should really hit them where it hurts the most. That is, in their balls and their pocket book. How you do that ? Sell all the stocks in NCB. I don’t remember if the other banks (like Scotia) are on the Jamaican Stock Market but if they are just sell all of them. Their backra master back in Canada will not like that.

    The other things is I think Micheal Lee Chin should set a better example and stay out of this whole thing because his past is also shady with his million dollar “loan” and brand new Rolls Royce. Why is it that Carlos Hill’s past is such a big concern and Lee Chin is not. Is it because Carlos Hill does not have Chin or Chen or Lee in his name. Is Michael Lee Chin jealous about another expat returning and buying up property ? It could be jealousy , or maybe it is okay as long as the person is chinese or syrian or wherever they come from.

    Imagine look how Hugh Shearer lend him money to educate himself and him come back and buy NCB and trying to kick the bread (or dumplin) out of black people mouth. I don’t think The great late Most Honourable Hugh Lawson Shearer, ON,OJ,PC,LLD (Hon),who was once the Prime Minister of Jamaica would be very proud at all.

    He need to step back and check himself. I was very proud of him until now.

  779. HD said,

    November 25, 2007 at 4:55 pm

    Hugh Shearer was a great Trade Unionist, he believed in workers rights, including their right to do whatever they want with their money.

  780. DR said,

    November 25, 2007 at 5:33 pm

    God bless Carlos Hill….Yes your past might have been shady, but we love you….IF God can forgive sins, WE CAN!

    We love you CARLOS! we also love David, and the very many other principals of clubs…..

  781. Investment Tech said,

    November 25, 2007 at 6:04 pm

    testing

  782. Investment Tech said,

    November 25, 2007 at 6:05 pm

    From ww website

    From The Chairman’s Desk

    Dear Partners,

    As a valued business Partner of World Wise Partners Limited it is of priority that we update you from time to time about important developments.

    You of course know that World Wise Partners limited trades currency on the international Forex Market. This is how the high yield profits are generated..

    As a result of the forex market being an offshore exchange we have always maintained offshore bank accounts to facilitate our various forex trading activities.

    These offshore accounts can at any time be used to allow partners to fund their accounts and can be used by WorldWise to remit applicable gains to its Partners anywhere in the World.

    The alleged efforts by the bankers association of Jamaica to disrupt the activities of WorldWise Partners will prove Futile.

    Currently all of our Bank accounts locally remain open and properly funded. However, if in the future they are closed then we will use our other existing facilities which will cause no delays whether funding or withdrawing from accounts.

    We continue to look forward to doing business with you.

    Merry Christmas

    Sincerely,
    Noel Strachan
    Chairman
    WorldWise Partners Limited

  783. Kevin2 said,

    November 25, 2007 at 6:09 pm

    I have so many things to say I don’t know where to start.
    Let me put them this way:
    1) Why is it that all of a sudden BOJ is saying that if you trade fx you need to be licensed. If I sit in my living room and take out my laptop and start trading this is illegal because I don’t have a license? What crap is this and what… they were sleeping all along. PLEASE SOMEONE FIRE MR. LATTIBEAUDIERRE (or however you spell his name)
    2) Should the hospital that got the dialysis machine from OLINT give it back because they don’t know if the money was tainted? Should we cancel the AJ Jazz and Blues festival and tell the travel agents to refund the airfare of everyone from around the world and screw the JTB.? WATCH AND SEE WHICH OF THE BANKING EXECUTIVES ATTEND THE FESTIVAL. PLEASE ORGANISERS BAR THEM. THEY MUST NOT BE ALLOWED TO ENTER THE EVENT.
    3) Why are people combining OLINT’s name with Cash Plus. OLINT and Cash Plus are two separate entities doing two totally and completely different things. OLINT is 100% legit in fx trading. Cash Plus on the other hand still is somewhat secretive. Please people and the media and spies here DO NOT COMBINE THE TWO. OLINT does NOT guarantee a fixed return either.
    4) Wayne Chen was wasting time on Mutty Perkins on Friday. What value did he add?. Total and complete waste of time. Bout people must see balance sheet of organizations that they invest in and know the risk. We are so much smarter than these people think us to be.
    5) If the banks were so concerned about the legitimacy of the funds why not do it in a more civilized way by meeting with the management of these companies and failing this start up a media campaign that you are considering closing these accounts if the info they request is not forthcoming. But no, in their wisdom (bunch of asses) they decide to abruptly close all accounts and playing with peoples lives knowing the chaos this will cause. Who the hell is advising them?. The BOJ again. PLEASE SOMEONE FIRE MR. LATTIBEAUDIERRE.
    6) The Govt. should immediately come out and demand that the banks reinstate these accounts and they themselves will perform the investigation into these institutions. The Govt. must meet with these clubs.

    I really hope that there are a lot of media personnel reading this blog because this is a time when we need all to hear us.
    Gone for a drink of scotch I will be back later.

  784. nick said,

    November 25, 2007 at 6:29 pm

    Big up to all clubs we will support you till the end of time. The real Carlos Hill did stand up and be honest about his past. I respect the man for doing that but lawyers are up some people ally like crazy lol.

  785. Anthony said,

    November 25, 2007 at 6:30 pm

    The word is out from my end and the response is positive, ppl say dem fed up,continue to spread the word. Let us be professional and show them that we have risen from the crab in a barrel attitude and can unite for one Jamaica. BE EARLY AT THE BANKS JOIN THE LONG LINES IF NECESSARY AND MOVE FROM BANK TO BANK. BE VOCAL TO TELLER OR SUPERVISOR YOUR ACTIONS AND ALSO LET THEM KNOW THAT AS SOON AS THEY ARE READY TO DO BUSINESS ON A LEVEL PLAYING FIELD THEN WE MIGHT CONSIDER THEM.

    CALLERS FLOOD THE TALK SHOWS WITH OUR PROTEST ACTIONS.

    CALL UPON YOUR SUPREME BEING TO GIVE US THE STRENGTH TO FIGHT THE OPPRESSORS AND GIVE US THE VICTORY.

  786. Mr. C said,

    November 25, 2007 at 6:31 pm

    How many people look at balance sheet when they are posted?
    How many people know how to interpret them?
    Do we really know if what’s displayed on their balance sheet is everything?
    How do i know if they not trading and using some fancy name to cover up the facts? (like an external fund)
    Wayne Chen mus cut the crap……..i boycot Superplus from the time when Chen family members (Jeremy Chen) them tie up the 2 youth and beat them badly, saying they heard they were “planning to steal”.

  787. HD said,

    November 25, 2007 at 6:34 pm

    Kevin2, personally I agree that OLINT and Cash Plus are very separate type of businesses. In fact I have way more confidence in the credibility of OLINT than I do of Cash Plus. That said, if I lived in Jamaica I would put a small change with Cash Plus even for 3 months. However, in the larger scheme of things I think we have to defend both of them. The same people (Banks) who are after OLINT are after Cash Plus and vice versa.

    You give me an idea :-) Now that I have finished enjoying my beer…or my beer enjoying me :-)

  788. HD said,

    November 25, 2007 at 6:37 pm

    About balance sheet, you could have read Enron’s balance sheet from here to eternity you would not have been any wiser about buying their stocks and I am sure Mr Chen would have loved some of the Enron business back then despite how they were running up granny’s light bill in California.

  789. DW said,

    November 25, 2007 at 7:04 pm

    Correction #737 MONDAY 26.

  790. Marsha said,

    November 25, 2007 at 7:38 pm

    Hi HD,

    I have a question can I email you?

  791. HD said,

    November 25, 2007 at 8:36 pm

    sure

  792. HD said,

    November 25, 2007 at 8:38 pm

    hd_731@yahoo.com

  793. JM said,

    November 25, 2007 at 8:48 pm

    Can someone help me with more information about how to get cash out of an e-bullion account?

  794. deuce said,

    November 25, 2007 at 9:06 pm

    If a license is needed for forex trading why do i see ads for training in forex trading each Sunday. It’s not a secret that David traded for JMMB in earlier days how come no one asked how JMMB made Billions in profit then.

  795. Kevin2 said,

    November 25, 2007 at 10:39 pm

    sssshhh Deuce they might close JMMB accounts ;) …LOL

  796. Kevin2 said,

    November 25, 2007 at 10:40 pm

    :)

  797. DW said,

    November 25, 2007 at 10:55 pm

    UNITED WE STAND,LENDERS,PARTNERS,BLOGGERS,LETS SHOW THE CHIEF OPPRESSORS(NCB & BNS) THAT WE ARE A FORCE NOT TO BE TAKEN FOR GRANTED, WE AT THIS POINT CONTROL 20% OF THE FINANCIAL SECTOR IN JAMAICA,THIS ACHIEVMENT WAS PIONEERED BE MR DAVID SMITH AND OLINT,SINCE THEN THERE HAS BEEN OTHER PIONEERS WHO HAVE JOINED IN STRUGGLE, DEMANDING OUR FINANCIAL INDEPENDENCE FROM THE OPPRESSORS.OUR 2O% FINANCIAL STAKE WILL RISE 25,30,EVEN 40% IF JAMAICANS BOTH AT HOME AND ABROAD STAND UNITED AGAINST THE MONOPOLIZING OPPRESSORS.

  798. DW said,

    November 25, 2007 at 10:59 pm

    JOINED THE STRUGGLE

  799. Kevin2 said,

    November 25, 2007 at 11:12 pm

    Tell me something, does the bank account closures apply to only Cash Plus or does it apply to all Cash Plus controlled companies? Because I am thinking, if it applies to all C+ controlled companies this sounds like there will be a riot in Kingston this week that goes beyond C+ itself . Does this mean that employees of all the C+ companies (and it is alot of them) cannot say get their salaries? What about the various hotel workers in the hotels that they own? Maybe I have it wrong but can someone clarify.

  800. nick said,

    November 25, 2007 at 11:47 pm

    yes all companies owned by cash plus also, but cash plus sending all them money offshore and the workers will still get payed. but we still boycotting the banks

  801. Mark said,

    November 26, 2007 at 12:03 am

    The banks cannot exist if you continue to take out loans. Remember tommorrow is the date. MONDAY November 26, 2007. BE EARLY

  802. April said,

    November 26, 2007 at 12:26 am

    Banks reminded about meltdown of the nineties
    published: Monday | November 26, 2007

    The Editor, Sir:

    I read with amusement your article on the way that Jamaica’s local banks have suddenly decided that they should close all accounts with any unregistered entity that is involved in the financial sector.

    I encourage you to go back in memory to 1993, and I would also encourage Jamaica’s bankers to revisit this time. At the time, some of Jamaica’s local banks decided that they were going to close the accounts of people involved in the unregistered financial sector. These local banks called in these people and told them that they no longer wanted their business because they were undesirable.

    It happened to us and some of the people that worked with me. I recall that we were called in by Jamaica Citizens Bank and told we were undesirables and that the bank did not want to deal with people like us. The then political leaders of Jamaica were silent. But we ‘undesirables’ were actually working for the Central Bank as registered sub agents.

    I would encourage the people of Jamaica to go back an examine what happened. The bankers and the political powers conspired against these unregistered financial entities. If one looks at the matter through the eyes of wisdom one can see that the Almighty brought justice to bear.

    Meltdown

    The banks that conspired and acted against these people where are they? What happened to them? What happened to Jamaica’s financial sector?

    There was a meltdown, a complete meltdown. God Almighty came out and fought for me and those people who had been conspired against. To this day the curse of debt continues to compound on the shoulders of the Jamaican Government.

    Go back and remember you bankers, remember that the Government bailed you out to the tune of billions of dollars. You failed to run your business properly and you were not made to pay the price, you were bailed out. The whole banking sector was bailed out. Be wise you new political leaders and ensure that those people that you have licensed to transact banking business do it in a fair and just manner. And remember that just a few years ago the past political leaders had to bail out the whole financial sector to the tune of billions and billions of dollars.

    Now you bankers have become high and mighty and you have set out to destroy all the unregistered financial businesses. Be warned, you bankers, “He that sitteth in the Heavens shall laugh: the Lord shall have you in derision. Then shall He speak unto you in His wrath, and vex you in His sore displeasure.”

    I am, etc.,

    JOHN DAVID WILDISH

    wildish@express.tc

    Sailfish Lane, Providenciales

    Turks and Caicos

  803. Yardman said,

    November 26, 2007 at 12:40 am

    BANK CARTEL MUST TREAD CAREFULLY

    Wignall’s World
    Mark Wignall
    Sunday, November 25, 2007

    There are still many of us who remember when banks operating in Jamaica employed a few token black Jamaicans – the porter at the door and two ladies locked away in a back kitchen sweating over hot stoves, preparing meals for the white and near-white faces who worked in air-conditioned comfort in the main banking area.

    The Jamaican society was different then, and as a boy growing up in the 1950s it didn’t strike me that anything was out of place. In my boy’s eyes then, I understood the arrangements. White and near-white Jamaicans drove big, shiny, black cars, worked in banks, travel agencies, offices in general and they were rich.

    Black Jamaican men held the doors open and said, ‘Good morning sir, good day madam’; black Jamaican women worked in someone’s downstairs, cleaning floors and mopping up the white man’s shame. And they were all poor.

    As a very obviously mixed-race individual (East Indian, African, traces of Amerindian and a whiff of European), I wasn’t quite sure about me.
    While attending Trench Town Primary School in the late 1950s, I was constantly jeered by black Jamaican children and adults with, ‘Coolie Baboo s..t pon callaloo and nyam it,’ while, at the same time, I was certain that white people had no place for my kind in their verandah happenings. It was my father (now 87) who provided me with some answers by telling me that persons tended to curse out what they feared or misunderstood.

    As soon as I was befriended by boys living in the depressing poverty of Trench Town, no one could any longer throw derision at me. Outside of the area, the general behaviour was better, but by then, if I happened upon the crass name-calling I had other ways of dealing with it.

    Much has changed between the 1950s and now. Many black-skinned Jamaicans have used the education afforded them through the Common Entrance Examination and they have done well. Many of those Jamaicans in the bankers’ association have travelled on the rough road, dragging themselves up from poverty, all the time trying to carve out a social slot in the delicate and oftentimes confusing mix of class struggle and colour placement.

    Michael Manley’s politics of the 1970s may have prodded the bankers into a consideration of new frontiers which would involve more of the ‘people’s aspirations’, that is, devising loan and deposit policies to empower the small man to bigger things, but by 1974 when Manley flew off on his democratic socialist whim, he was seen as the enemy to those bankers who wanted the old, cemented arrangements to rise from foundation to rooftop.

    Bankers are very quiet people, but one should never be disarmed by the real or affected gentility. Historically, bankers in Jamaica have never fully publicly explained or justified the peppercorn rates paid out to those whose money they have on deposit. If anything, we know more about the progressive bankers who were wrecked by the monetary policies of the last political administration in the mid-1990s and less about the conservative ones who seem to live each day as the captive audience for government paper.

    Five years ago when the alternative schemes burst upon the socio-economic landscape, the business was slow in coming. In time it gathered momentum until even some persons employed to banks became ‘investors’ in these schemes which promised and delivered about 10 per cent per month on investment. The banks have begun to fight back, not because they believe the schemes are unsustainable, but because their depositors have pulled out much which they had in the traditional banking system.

    For sure, many of the fly-by-night alternative investment schemes are shaped like three isosceles triangles stacked against each other. In time the charlatans will fail, and some of the eternally greedy ones will get burnt.

    New JLP government can’t afford wholesale failure of alternative schemes

    Every second PNP MP and councillor, and JLP MP, minister and councillor seems to have more than a passing interest in Olint. Many of them differ on policy at the political level but when it comes to Olint, a lot of them are on board and they have reaped rich rewards in the last five years or so.

    Minister of Finance Audley Shaw will have to tread carefully on this one. His ’second’, Don Wehby, will have a much rougher time, as First Global Bank is a GraceKennedy outfit. How does he deal with a matter that has now become a clear case of conflict of interest?

    How can he weave his way through the FSC strictures on these alternative investment schemes when up until recently he was head of GraceKennedy’s financial arm? Big, big problem and one that lawyers working on behalf of some of these schemes will want to pounce on.
    It is obvious that there are some charlatans travelling with their offices in their cars and laptops. These need to be identified and weeded out, if not by the actions of the very investors then certainly by creative action on the part of the Government.

    Tried, tested and proven Fx trading schemes like Olint need to be given space to operate in the formal economy even as the charlatans are identified and impelled towards the safest way out – early demise.
    In the interim, the banking sector is advised not to mess with poor people’s attempt to earn a bread. Closing off accounts without giving sound, ‘bankable’ reasons is playing with a fire which has the potential to consume those providing the fuel.

  804. Yardman said,

    November 26, 2007 at 12:48 am

    RACISM IS ALIVE & WELL

    Mark Wignall

    A successful black businessman is approached by a white couple. After the men exchange pleasantries, the wife is introduced. She then launches a verbal attack on the black man and during her tirade refers to him as ‘a little black boy’. He responds by giving her a small piece of his mind.

    Then, as he attempts to leave the verbal crap behind, he is suddenly punched in the face by the husband and then held by three white friends of the husband who then attempt a home-grown version of a lynching.

    The ‘little black boy’ is spared a serious beating by the swift and brave actions of a young CEO with a famous name. And the young CEO just happens to be white.

    Mississippi at the beginning of the 20th century? Louisiana in the 1930s? No, no. It happened in Jamaica in 2007, two weekends ago on the north coast.

    The ‘boy’ in question has distinguished himself as a businessman, community servant and political player, and is highly sought after in his field both locally and abroad. If he could have been treated this way, one wonders how these people view and approach less affluent or established people of colour.

    As I understand it, the mother of the man in the couple has been badmouthing the ‘black boy’ who was attacked ever since he began offering his consulting skills to the head of the company where she is employed.

    Apparently all efforts to stop her denigration of the individual proved futile and instead it intensified.

    It seems to me that when the ‘little black boy’ made complaints to senior persons at the company where she works about her maligning him, it provided the spark which upset the son and daughter-in-law and led to the most vulgar of attacks.

    In all honesty, the ‘little black boy’ is not one of those individuals who is content to sit in a corner and wait until he is called. He is a bit flamboyant, travelling to functions/parties he is invited to with a discreetly concealed cache of expensive single malt whisky in tow.
    Unfortunately, there are those in Jamaica today who cannot let go of the era of the plantocracy when every ‘little black boy’ knew his place and kept his mouth shut.

    I need to congratulate the young white CEO who told those remnants of a lost glory a piece of his mind and firmly ‘dressed them down’.
    The story has been carried in the gossip section of both the Observer and the Gleaner. Spins have been put on it, one even saying that the matter started over the style of shoes the ‘little black boy’ had on.
    Foolishness.

    I saw some types of this behaviour in 1981 after the JLP won. In the 1970s, Michael Manley had been preaching egalitarianism and he had gone overboard to right some social wrongs. After the Seaga-led JLP won, a certain set of people read the times horribly wrong. I saw uptown, white-skinned Jamaicans in their ‘criss’ Volvos driving while their black domestic helpers, fully decked out in helper monkey suit sat in the back. The helper was not good enough to sit in the front.

    The vast majority of our white-skinned Jamaicans are non-racists and are much better behaved than many of our black-skinned fellowmen. This column excludes them from the crass and racist behaviour of the couple mentioned above.

  805. DR said,

    November 26, 2007 at 5:39 am

    Bullying tactics by the banks. Jamaica Gleaner
    published: Monday | November 26, 2007

    The Editor, Sir:

    In response to your article in Saturday’s Gleaner, I am very concerned about this matter, and wondering when was it that we the people of Jamaica lost our free will. What right do these banks have to try and deny people the right to live comfortable.

    If they feel that they are losing business then they should offer their clients a more financially profitable way of five per cent per month, they can afford it!

    On the matter of firing employees who are members of these clubs, this is extremely out of order. Are we in the Gestapo now?

    Stop witch-hunting

    They need to stop this witch-hunt and realise that people are not going to back down, because for many of us this is the first time that we are experiencing some financial freedom.

    Also, people can now spend and put money back into the economy, and for that matter a lot of this money will end right back with them. This is a very volatile issue and they are tampering with people’s free will and extra income, a situation like this could incite the people to violence ‘against them’.

    I sincerely hope that the Jamaican people who are members of these clubs hang TUFF, ride this wave and not allow these bullying tactics to scare them.

    This is still a democratic nation. Furthermore, people will not want to put their money back into these banking institutions again, and I would be one such person. As my teenage daughter said ” Mummy, what the banks pay you in one month’s interest cannot buy a patty and bottle water.” Enough said.

    I am, etc.,

    FAITHFUL INVESTOR

    vixen532@yahoo.com

  806. DR said,

    November 26, 2007 at 5:41 am

    The Jamaica Observer Editorial….Monday Nov 26:

    Dilemma of the ‘alternative investment schemes’

    Monday, November 26, 2007

    This newspaper remembers well the 1990s meltdown of the local financial sector which left thousands of depositors confounded and out-of-pocket, as the nation now faces, a decade later, the issue of alternative investment schemes.

    It is our sense that the current level of participation in these financial schemes is close to unprecedented, and logic suggests that there is a good reason for their popularity.

    We believe that there are several perspectives which need to be faced frontally, and importantly, not merely from a point of view of those who have an axe to grind, namely the owners and investors in the schemes and their perceived competitors, the established financial institutions.

    In between the vested interests, there is the overriding interest of the nation which must never at any time be sacrificed for the narrow benefit of the few over the many.

    And in this respect, we await the early enunciation of the policy of the new government on this issue, certainly before it gets to the point where it tears our nation apart. It is clear that nerves are getting more jangled every day and we ignore this at our peril.
    The alternative investment schemes are popular because, at the extremely high interest rates being offered – an average of 10 per cent per month – Jamaicans see a real chance of lifting themselves out of poverty.

    While there are those who are caught up in a vortex of greed, it is crystal clear that many believe and are willing to risk their money for the prospect of a comfortable life.

    Too many Jamaicans have worked all their lives, saved and invested their hard-earned money only to receive a little pittance, while they see the owners and executives of the established institutions which receive their money living high off the hog.

    Some of the stories we hear about the transformation in the lives of ordinary people who invest in these schemes are quite touching, like the 50-something year-old woman who lost her job and with no early prospect of another, was able to buy her first car and provide an income for her family, from interest earnings off her severance pay.

    On the other side of the coin, the banks, which appear to be taking a stance against the new financial schemes, are behaving as competitors would and perhaps should be expected, if they perceive a threat to their operations.

    As currently structured, these traditional institutions could not immediately hope to compete viably with the alternative schemes.

    They have vast sums of money in the market based on much smaller interest rates that have years to go before maturity.
    In this scheme of things, we must want to know – all of us – that nothing happens that could pose a threat to our national economy. Even those now benefiting from the high-interest schemes cannot expect to escape unscathed, if the country’s economy comes to a crash.

    We suggest that what is needed is a national debate, devoid of rancour, where we look at the issue as a national family. Together we can determine if these non-traditional means of prosperity should be accepted as a sustainable alternative to what we already know, or whether they will harm us in the long run.

  807. DR said,

    November 26, 2007 at 5:46 am

    Folks, we’ve got to bind hand and hearts today. Mon, Nov 26

    The list of the oppressors is growing as you can all see…..but we will not sit back and continue to be poor…FX trading has benefitted all of us.

    C+ vs Fxtrading-clubs are two different things….I have been a little uncomfortable with C+, but I will stand by him/them. The fact is that “we” are all in this thing together. They are after 10 clubs at this time….including Higgins and Worldwise. We have to bond together.

  808. DR said,

    November 26, 2007 at 5:48 am

    Worldwise has suspended Wire transfers. Call them if you want to know what to do. 876-754-9473

  809. Anthony said,

    November 26, 2007 at 6:47 am

    Today is the day, I guess the way I felt last night is the way Sam Sharp, Nanny and others felt the night before a battle, knowing that freedom can come if for future generations if they fight a good fight.
    Let us join hands and heart today and for the rest of week, months if necessary until we get a victory .
    Get out early and hit them wear it matters most, empty the vaults of your cash, and remember let them know the reason.
    Peace I am now preparing to head out as I have a few stops to make JMMB, NCB
    and SCOTIA.

    Also let us exhibit a little patience with our various schemes as they work feverishly to worm there way out of the pickle the banks are putting them in, hold the strain, be patriotic to the cause.

    When we are victorious pop a bottle of non alcoholic champaign with children and let them know this one was done for them and their children.

  810. DR said,

    November 26, 2007 at 7:34 am

    Question1:

    What does NCB, BNS, FirstCaribbean, First Global, BOJ and FSC have in common?

    Question2:

    What does WW,CP,Olint, HIggins, the & exclusive clubs around Jamaica have in common?

    Question 3:

    What does a certain political party, Olint and Cash Plus have in common?

    THINK!

  811. HD said,

    November 26, 2007 at 8:24 am

    DR,

    with regards to WW are they suspending wire transfers as a means of depositing funds into our WW accounts or are they suspending wire transfers as a form of withdrawal of funds ? I read about the former before but so far nothing on the latter.

    Thanks in advance for the update and clarification.

  812. AD' said,

    November 26, 2007 at 8:58 am

    Hello Bloggers i have been so busy of lately with a project launching soon but i have managed to keep informed…I just came across this article.

    RJR News has been informed that Cabinet will this week discuss issues relating to Cash Plus and other alternative investment schemes operating in Jamaica.

    It is reported that the matter will be placed on the agenda of the weekly meeting of the Cabinet.

    The meeting is likely to be held Tuesday following the return of Prime Minister Bruce Golding from the Commonwealth Heads of Government meeting in Uganda.

    A statement will then be made on the Government’s position on Cash Plus and other unregistered schemes.

    The Bruce Golding-led Government has remained silent on the growing popularity of these alternative investment schemes.

    The schemes have been pulling customers from the formal banking sector by promising high returns on deposits.

    Still smarting from what it calls negative action against it by commercial banks the principals of Cash Plus have remained on the offensive as they seek to reassure investors.

    Over the last few days the investment entity has been holding a series of fora hoping to stop its investors from pulling out their funds.

    Sunday, Cash Plus placed full page newspaper advertisements and started a television campaign urging clients not to remove their deposits.

    And Financial Analyst Orville Johnson says the Government cannot remain silent on the matter as it could have far reaching implications.

    Mr. Johnson is warning that if the administration stays in the shadows it could lead to what he described as “financial anarchy”.

  813. Dominik said,

    November 26, 2007 at 9:35 am

    Hey Everyone,

    This is for all who wanted to know about the automatic trader. Sorry for the late response, but i wanted to “get all my ducks in a row” before posting.

    The program is call System Selector and is offered by FXCM … follow this link to see the program details http://www.fxcm.com/forex-system-selector.jsp

    This system is not for the faint hearted. You will make money, but you will also lose money. The key is to chose the automatic trading systems that you are most comfortable with. Check the Profit vs. Max Drawdown.

    It took me about 2 weeks to find the automatic trading systems that i was most comfortable with. The great thing about this program is you can back test the system.

    Here are my results as of today 11/26/07 if i had opened Live account on 10/31/07 with the minimum of $2000.

    Here are the different leverage examples based off 17 automatic trading systems in my portfolio:

    10:1 – $5,400
    20:1 – $8,700
    30:1 – $12,200

    If anyone has anymore questions, you can post them on this blog or e-mail me dswabes@comcast.net

  814. Mr. C said,

    November 26, 2007 at 10:52 am

    DR 810: like the analysis, it makes sense (if i am interpreting correctly). Never thought of it before but it mek nuff sense.
    Dominik 813: thanx for the link
    The real Carlos Hill stood up………
    Now, Will the Real Michael Lee-Chin please stand up!

  815. Concerned said,

    November 26, 2007 at 11:32 am

    re #810 and 814 what do each of the them have in common? other than they all have a lot of money :-)

  816. Kevin2 said,

    November 26, 2007 at 11:40 am

    Can someone give me an indication on how things are going on at the banks today. Do we have any feedback yet?

  817. Kevin2 said,

    November 26, 2007 at 11:41 am

    And DR, don’t bother with the riddles in a time like this :)

  818. Mr. C said,

    November 26, 2007 at 11:53 am

    Concerned i might be very incorrect but i was thinking if the answer to question 1 is PNP and the answer to ques. 2 is JLP and if the answer to #3 is JLP and the clubs then it would imply that the PNP would influence the banks to do this and place pressure on the JLP Govt. like I said b4 this analysis could be way off, total rubbish but just my views.
    816 a friend of mine that works at NCB told me that 2 accounts was closed so far this morning. one person was going on bad said he wanted his money to put it in cash plus dont care if it goes down with his money. but that location is kind of remote still

  819. DW said,

    November 26, 2007 at 12:11 pm

    Mr C #814. The real Lee-Chin wont stand up because he is the head of a DECEITFUL ORGANIZATION.

  820. Anthony said,

    November 26, 2007 at 12:12 pm

    Just got back from NCB JMMB Where I did what I had to do. Made it quite clear to the supervisor at NCB and must say that I actually got a thumbs up from the teller especially when I made mention the protest was also in support of the threats made on them.
    Also spoke to the manager at JMMB where I explained my position, he tried to assure me that freedom is a part of democracy. But unlike DB&G they were refused a license to have their own bank and so they are forced to utilized these oppressive commercial banks. I assured him that as soon as situation is resolved then I would be willing to reimburse my account.
    Whilst in JMMB I was fortunate to see an elder come in and voice his disgust, we shook hands in unity and he said he was actually heading to NCB to flatten account.
    The hotline program is saturated with callers voicing there disgust at the banks.
    Let us continue to spread the word and educate our brothers and sisters,LET US CONTINUE USE OUR MONEY AS A WEAPON.
    EVERY LITTLE MEK A MUKLE.
    JOIN THE FIGHT FOR OUR FREEDOM AND FINANCIAL INDEPENDENCE

  821. Patricia said,

    November 26, 2007 at 12:12 pm

    Hey Everyone….how’s it going at ground zero??????…well I called Mr. Thwaites this morning….he said he has no sympathy for the banks…there were other callers on the banks behaviour and in support of the clubs. Mr. T stated that the feedback he is getting directly and indirectly is that pple sticking to their clubs and not bowing to the banks’ pressure.

    Mutty’s caller up to now not on this issue, but his wife who reads his emails has said that she has been overwhelmed by emails, some 400-500 emails on C+ and the other clubs……she has not read any yet, but we’ll continue to monitor.

    Apparently cabinet to discuss this issue this week…so continue the work…..

    …..this must not be a one day event…it should be pursued for the rest of the week at the very least…….continue calling and emailing the talk shows, writing letters to the Editor, Gleaner and Obsever

  823. Ms_Infinity said,

    November 26, 2007 at 12:53 pm

    DR Your answers to

    Ques #1 – White Executives
    Ques #2 – Black Executives/
    Ques #3 – Black Heads/Leaders

  824. AD' said,

    November 26, 2007 at 1:24 pm

    Patricia and DR. Did you ever get those emails that i sent regarding the accounts?

    Regards
    AD’

  825. specs said,

    November 26, 2007 at 1:33 pm

    iwent to bns and did my self justice today it all went offshore effective today.
    my next visit will be ncb tomorrow. i now need an institution that i can keep just enough so as to get by each month . its a though decision to make either jn or vm

  826. JK said,

    November 26, 2007 at 1:37 pm

    Andre i think its time to do open channel part 2 the load times are getting bad once again

    but things have become increasingly interesting ……i wish i could see into the future

  827. Anthony said,

    November 26, 2007 at 1:56 pm

    Patricia could you comment on 822 as I got to admit I am not that savvy re the offshore issues but I am really considering the prospect.
    What are the risk associated and how much of deposit would be insured.
    Kindly state any other info that could help me in my decision.

  828. DR said,

    November 26, 2007 at 2:19 pm

    We seem to be getting the message across…..Are you all coming to the meeting later? Terra Nova 6pm……The space is limited but we can get our voices heard.

    FSC will be there to talk about alternative investments….I went to the last one…it was crazy….A certain big wig in politics was there…..he was in full support of C+…….I was surprised…..

    So FSC meeting, Terra Nova at 6pm Monday, November 26.

    Then Olint Foundation will be launched this week,,,,not sure when or where?

  829. Skeem said,

    November 26, 2007 at 2:27 pm

    FAQ – common questions answered
    https://www.offshore.hsbc.com/1/2/international/current-accounts/faqs

  830. Patricia said,

    November 26, 2007 at 2:44 pm

    Anthony, firslty off-shore banking simply means you are banking in a country other than your own…..what I think you would also want to do is bank not just offshore but in a tax haven…so that you have that additional protection from prying eyes.

    HSBC, in terms of proximity to JA is in Cayman, Bahamas and Bermuda…they are not to my knowledge in TCI..

    I quite frankly like them as a bank, but really dont like the C’bean countries they are in as those countries are not too friendly to J’cans generally speaking, but hey business is business…..Just about every jurisdiction has deposit insurance, but I dont know the amount required in Cayman or the 2 other countries……But I think you should check them out, and also I have posted RBC’s link here……Cayman has no direct taxation, so that is also good in order to minimize your taxes

    http://www.rbcroyalbank.com/caribbean/cayman/about_cayman.html

    I know a jamaican lawyer in cayman and will be contacting him to get some further info

  831. Patricia said,

    November 26, 2007 at 2:45 pm

    wherever you choose make sure they have internet banking, so that you can do your banking 24/7, and apply for their credit/debit card..so you can have spending ability

  832. Kevin2 said,

    November 26, 2007 at 2:47 pm

    DR,

    What is OLINT Foundation?

  833. Kevin2 said,

    November 26, 2007 at 2:49 pm

    Andre,
    I agree with JK. You should consider opeing a new page now. This one is slowing down.

  834. Patricia said,

    November 26, 2007 at 2:52 pm

    Hey AD, checked my email again and didn’t see it………can ypu pls send again …….meikle61@gmail.com

    Thanks in advance

    VybzB…thanks dude!!!!

  835. DR said,

    November 26, 2007 at 4:45 pm

    #833 Kevin, to be honest I don’t know what Olint foundation will be but I am assuming it might be something like Digicel Foundation…where they give money to charitable organizations, hospitals, home for the aged etc…..

  836. Concerned said,

    November 26, 2007 at 5:15 pm

    went to ncb today but the lines were crazy so the little at bns went to JN and ncb will see me tomorrow morning…

    a couple of people in jn were making deposits that they just took out of ncb (2 ladies) i wonder if it was any of you guys :-)

  837. Patricia said,

    November 26, 2007 at 5:25 pm

    Concerned, could you detect whether it was business as usual at NCB, or were pple doing w/drawals/closures????

  838. Skeem said,

    November 26, 2007 at 5:31 pm

    http://en.wikipedia.org/wiki/Offshore_bank

  839. Mr. C said,

    November 26, 2007 at 6:28 pm

    Guys u can listen to the seminar put on by the FSC at the Terra Nova on the following link
    http://www.nationwidenewsnetwork.com/

  840. Concerned said,

    November 26, 2007 at 6:43 pm

    i could tell that it was a lot of withdrawals (yellow slips) but i dont know if that was unusual… ive seen a lot of people in there before but this is month end so it might be usual.

    listen to the nationwide link the lady stressed that even if your money is in a tax free jurisdiction as long as you are jamaican you should pay your taxes by march 15

  841. Kevin2 said,

    November 26, 2007 at 7:24 pm

    I am listening to the nationwide link. I just heard George Roper of the FSC. He is just doing his job but I am sure he is probably sorry that he couldn’t get into OLINT. Or he probably would like to get in but it would look so bad if people find out he is in it. That must be really burning him…Ahhh well……..

  842. Patricia said,

    November 26, 2007 at 7:34 pm

    Yes you have to pay taxes if you disclose it…….and with investment schemes if they are not registered entities in Jamaica, and they operate off shore, FSC have no jurisdiction over them.

  843. Patricia said,

    November 26, 2007 at 7:38 pm

    Re treaties there are no teatries with TCI, and also for those registered in Panama, all you can get from the companies registrar is confirmation of registration..Ja can’t force TCI or PAnamanian authorities to have these entities disclose any details on their operations or members, unless you have valid info on a criminal activity

  844. Patricia said,

    November 26, 2007 at 7:45 pm

    What is the purpose of the FSC at this meeting, they are so over their heads and ignorant…the independently verifiable data is nthe returns the pple have got, especially those whomhave done their encashments over the past 4 yrs

  845. Wise Investor said,

    November 26, 2007 at 8:22 pm

    Hey Andre

    Couldn’t u move the first 700 or so posts from the open channel forum on to the original powerful investment tips forum. Could that work? That way the original would be some sort of archive of comments posted. What do u think Andre, possible?

  846. Concerned said,

    November 26, 2007 at 8:32 pm

    7.6 billion that is what cvm just announced that bns financials will disclose for this year, 10% increase over last year profit + 18 years of profit growth. nice way to say thanks right :-(

  847. 100 MILLION DOLLAR MAN said,

    November 26, 2007 at 8:51 pm

    Well done this blog is so good I will also Join the fight tomorrow and withdraw all my million from the Texas chain saw banks tomorrow. I ‘am hoping to take out a billboard Ad in New Kingston in support of the investors with my own money. So tomorrow I will have my assistant go to ADEX and make some arrangements. What about some T-shirts guys with slogans on them to give out to every person who has invested thousands of shirts we need to hold a rally support the troops Olint, cash plus, WW, and the others. Do you guys having any suggestion or concepts for the billboard let me know? I would love to see thousands of signed autographs on that billboard of supporters. I will also be taking out my own two-page spread in support of all the people and the clubs.

    The 100 million dollar man

  848. Carl said,

    November 26, 2007 at 10:09 pm

    HI fellow bloggers and investors;

    I have not been able to post anything since I first mentioned that investors stormed CP last week after their payments were late. I have just read all the views posted here so far, watched Carlos Hill for one hour on TVJ last night at 5pm and from all that I have seen and heard so far CP is here to stay! Mr Hill seems to be a very bright man. I trust that you all were able to see the one hour special which was a taped session of the meeting he had with investors at the indoor sports centre on Nov.11th.

    Based on all the plans that he outlined such as having our own plane, hotels and limo ;a full vacation package etc, etc. I believe the big boys are not going to like his plans. He is planning to have a stake in every form of business in Jamaica. He said that based on all that’s been happening, he has hired personal security to protect him. Of course he owns the security firm.

    Dont know if anyone has made the suggestion before but we need to form an association and issue a press release, registering our determination to invest with the Alternative investmen clubs, before cabinet issue any statement. This way we can force government to take a serious look at us.

    When I invested in CP, that was money that went straight into the Jamaican economy, and would not have happened outside of CP . It helped to provide jobs for Jamaicans and provided well needed forex to the economy and BNS got the returns in the form of deposits in my account. They are so narrow minded! Only in Jamaica, these people could have been successful given the way they think.

    Come on guys we have strength. I am going to follow Patricia’s footstep and see if I can get Mutty one day this week. I have work meetings set up on Tues. and Wed so I might not be able to call before then, but I will do some thing. I trust that “Mr. Million dollar Man” is serious about his advert.

    Dont know which one of you living in Jamaica would want to start this offically tomorow and issue a statement to the press. Just elect youself as the interim president and get a deputy as well .We need a catchy name and a few signatures to be attcahed to the release .What do you think guys? Patricia? any suggestions.

  849. deuce said,

    November 26, 2007 at 11:15 pm

    so its 6.6 for NCB and & 7.6 for Scotia 14.2Billion of our hard earn cash

  850. DR said,

    November 26, 2007 at 11:33 pm

    Just came in from the FSC meeting at Terra Nova, it was interesting. by the way some of you should go to the Olint Foundation launch on Tuesday evening…not sure where it will be.

    Anyway, The FSC Excutive director said that he could not speak about Olint, Lewfam, or C+ because they are all in the courtrooms.

    there is a list of 24 investments schemes that are being investigated…..He refused to name all…..

  851. specs said,

    November 26, 2007 at 11:35 pm

    the banks r hoping that we panic and make a run on these institutions. but let me say this up until i joined c+ i could barely survive . the average salary for the working man is about 700,000.00 before taxes i fall in this category. over the years i managed to a few dollars plus a redundancy payment which was in bns and to my surprise i was only getting 7.25% per annum at bns. i took the risk and got 120% per annum at c+. now how does these bank executives who r getting over 15 million a year before bonous ( i hear that they get a least 1 month salary ) expect that i can be loyal to them .

    nb the utilities have gone up also food cost. what is it should i take to the super market.

  852. specs said,

    November 26, 2007 at 11:45 pm

    the banks should be more creative in keeping th customers,. the 42.5 % bns & 62.5 ncb both canadian mutual funds and the interest are not guaranteed is not enough. what do i get out of the 6.6 and the 7.6 high interest rates on loans and credit cards and low interest on my savings while these guys smile every day .
    folks it is up to us to stand up against the oppression i personally have no intention of giving up. if i cant invest here i will do it overseas .

    civil servants u guys will feel it most as there is another mou and all i hear is that job stability is what they want . ( whats the purpose of a job if u cant afford to get to work)

  853. Anthony said,

    November 26, 2007 at 11:51 pm

    Thank you Patricia will research your info.
    This was just the first day and I think we got off to a good start, tomorrow we continue the struggle and if we continue to spread the word we should get a domino effect thus forcing the oppressors to take us serious.
    Continue to highlight in the media so the word can spread.
    Poor people fed up

  854. Anthony said,

    November 27, 2007 at 12:41 am

    The timing for our protest seems right re the CHRISTMAS RUSH let us remove the excess funds from their vaults.

  855. Ian said,

    November 27, 2007 at 2:13 am

    Can someone post the Carlos Hill special that was aired on TVJ on youtube or google video?

  856. DR said,

    November 27, 2007 at 7:31 am

    Jamaica Prime Minister speaks: Gleaner Nov 27,2007

    No bailout for risky investors – PM
    published: Tuesday | November 27, 2007

    KAMPALA, Uganda:

    THE GOVERNMENT will not be launching a 1990s style rescue package for investors who lose their money in any of the myriad of investment schemes springing up in Jamaica in recent times.

    Speaking in an interview with The Gleaner at the end of the Commonwealth Summit at the Munyonyo Resort on Lake Victoria, just outside Kampala, Prime Minister Bruce Golding issued a stern warning: “The protection that is provided through the deposit insurance scheme and so on don’t apply and therefore we have taken great care to make the public aware that when you put your money in these enterprises you are taking a risk, you are on your own!”

    Mr. Golding said the Government was concerned about the lack of information but does not believe the current problems being experienced by some of these investment schemes will adversely affect the financial sector.

    He said he has given instructions to the agencies with oversight responsibilities to make sure the regulated institutions are safe.

    Mr. Golding noted that the government was awaiting a court ruling next month to determine whether these transactions breached any regulations and what course of action it could take.

    The judgment, Mr Golding argued, “will help to define whether or not the law as it now exists gives the government any power to intervene”.

    Careful about regulating

    But the Prime Minister suggested that the government has to be careful about regulating so “that we don’t over-reach”.

    He pointed to laws governing deposit-taking institutions adding that “we don’t want to regulate so that people can’t do business without getting government permission.”

    Last week it emerged that several commercial banks had taken a decision to report as suspicious, all funds that come to them through what they describe as “unregistered schemes”, as allowed under the Money Laundering Act. Such a move is believed to be having adverse effects on the operations of these unlicensed schemes.

    However, in a statement yesterday, the Jamaica Bankers Association (JBA) said it has never discussed the relationship between Cash Plus and any member institution.

    “We have never discussed or agreed to shut down anyone’s business,” the JBA said.

    The JBA said claims that the banks conspired against “unregistered” investment schemes were without foundation.

    It also denied charges that the JBA had a special meeting recently to “conspire” against the investment schemes.

    The JBA has dismissed suggestions that banks have been closing the accounts of investments schemes to avoid competition.

  857. DR said,

    November 27, 2007 at 7:37 am

    Former NCB boss speaks out:

    Aubyn Hill has no link to Cash Plus
    published: Tuesday | November 27, 2007

    The Editor, Sir:

    Last Friday, November 23, 2007, I received telephone calls from many of my friends who informed me that a female caller to ‘Perkins On Line’, the popular radio talk show programme, was categoric in her claim that Mr. Carlos Hill and I are related and, apparently – I did not hear the discussion – I am also an investor, or financier, or executive in Cash Plus.

    I called the programme and Mr. Perkins graciously allowed me to clarify the issue. For those who may have heard the caller but missed my response, this is to confirm that:

    (a) I am not the brother of Mr. Carlos Hill – nor am I a relative of Mr. Carlos Hill.

    (b) Mr. Carlos Hill and I (as far as I am aware) have never met.

    (c) Mr. Carlos Hill and I have never spoken together and we certainly have never discussed his Cash Plus venture.

    (d) I have NEVER been an investor in Cash Plus, nor have I been a financier, executive or adviser (in my role as consultant) to that venture, or to Mr. Carlos Hill, or to any executive from Cash Plus.

    Thank you for giving me space in your paper to bring clarity to this issue with the hope of dispelling the rumours that would seek to link Mr. Carlos Hill and me as family members and possible business partners.

    I am, etc.,

    AUBYN HILL

    CEO, Corporate Strategies Ltd.

  858. Poor Risk Taker said,

    November 27, 2007 at 8:00 am

    Aubyn is right ppl he has no dealings with CP, all his money is with Olint :) … thats where most of the big dogs are

  859. Anthony said,

    November 27, 2007 at 9:40 am

    We are being taken seriously by people in the media let us continue to be resolute.

  860. TheOne said,

    November 27, 2007 at 9:42 am

    Here is a link to CARLOS HILL SPECIAL that was aired on TVJ
    http://deshoda.vodpod.com/

  861. Concerned said,

    November 27, 2007 at 9:43 am

    Bill clarke points to diversifying as the reason for the growth in profit… he should also remember that a lot of those “new loan products” are being repaid through the earnings from the high yeild investments.

    Scotia Group Jamaica net profit increases
    Tuesday, 27 November 2007 (RJR ONLINE)

    Scotia Group Jamaica Limited says net profit for the 2007 financial year increased by just under $700 million.

    Net profit amounted to $7.4 billion, an increase of $694 million or 10 per cent when compared to the corresponding period last year.

    Scotia Head Bill Clarke says the strategy of diversifying across business lines allowed the Group to achieve record results and meet key financial targets for 2007.

    He says all business lines contributed significantly to net income, in spite of increased operating costs and a reduction in market interest rates.

  862. Patricia said,

    November 27, 2007 at 9:57 am

    Guys, The first part of Real Business this morning with Ronnie Thwaites and Ralston Hyman was worth listening to …(Any one has the contacts and can get an audio clip for posting here?)…..

    What the discussion proved is that our voices and actions are being heard and noted….the man on the street is now being recognised as having the real power, and that these alternative investment schemes are here and are now strongly entrenched in Ja’s economic fabric, and that they can’t just be locked down like that. If they fail, then the banks and whole country will suffer. Ronnie and Ralston also pointed out that Bruce’s statement(from Kampala) did not go far enough….. Ronnie even made mention of the issue of Campaign funding…!!!!!

    BTW 25 cents of every $ said to be in these schemes……Banks urged to be careful and more creative in providing products that offer more competitive rates, as pple have been saying even if they leave the schemes they are not putting the $$$ back with the banks……..the foolishly anticipated run on C+ did not materialise….

    GUYS,… we are truly in interesting times..we are OH SO making history…everyone of us here and in other fora, those on the streets and evrywhere BIG UP & NUFF NUFF RESPECTS!!!!…..’cause yuh done know :)

  863. Mr. C said,

    November 27, 2007 at 9:58 am

    http://www.nationwidenewsnetwork.com/
    Guys you can listen to the link on nationwide………….interesting views

  864. Kevin2 said,

    November 27, 2007 at 10:18 am

    I was listening to the FSC meeting yesterday on nationwide. At the end, a member of the audience asked if any of the panel members there from the FSC had any investments in any of these alternative investment schemes. DID YOU HEAR THE RESPONSE? The FSC head says started waffling and said something like he didn’t think he should let the panel answer such question. As I heard the answer I thought, the entire audience should just walk out. It is clear that some of the FSC members are in one of these schemes. They really take us for idiots. I know they would like to appear that they are just doing their job but come on…..
    Who the hell in JA would see all these schemes out there and see people making all this money and wouldn’t say to him/her self “Let me try this thing and see what happens”. I tell you folks everyone is or know someone who is in a club. And for those not in they are desperately trying to get in. The banks are really scared. Too much money is being made by the ‘small’ man and they are SCARED.

  865. Concerned said,

    November 27, 2007 at 11:10 am

    I heard the FSC meeting on nation wide yesterday and heard the question kevin2 refered to and let me tell you it spoke volumes … the person said let your panel discolose if they are in any of the high yield schemes with a “yes” “no” or “i care not to disclose”… and instead of any of the quick answers asked for the FSC head went off on this long thing about not asking invited guest that kinda question…. that was a lot longer than NO!

    maybe he should tell Bill clarke to respect his employees in the same fashion and let them put their hard earned pittance where they want it.

  866. Curves said,

    November 27, 2007 at 11:23 am

    Patricia:

    I have an account with BOA however, I am unaware of their off shore banking services. Can you confirm your source and forward the information.

    Thanks

  867. VMS said,

    November 27, 2007 at 11:57 am

    Hi Dominik (675)
    what do think of the overall robot doing the trade… i personally dont investigate it fully as yet.. I am just investing in it what i can afford to lose.. I like the setup of the page though..

    I will soon send everyone the link but I am just getting started and someone is taking me through the process..just be patient and i will let you all have it.

    I think everyone here has allowed a few opinions to distort what the real message should be.. It should not be about anything crashing or failing but just keep focussing on investment.. why can’t we broaden the scope of investment to other avenues that will help us in the longterm. when we reap our returns from fX trading, don’t you think we will go into real estate and other things.. stop lending credibility to the bullshit propaganda and feed our minds with positive thoughts… I don’t get to blog as often as i would like but i try to read all the entris when i have the time and for someone like me who owns and operate my own company find some of the discussions very infantile… Perfect Example…When you all were talking about offshore banking that was another good insight into alternatives that we all have to think about.. Please keep the info coming but tooo much is about FX CLUBS ..we already know about what hey do or don’t do and what the risks are and benefits.. so we need to move on to higher grounds..We are going to get rich is not a maybe just when ..

  869. VMS said,

    November 27, 2007 at 12:08 pm

    Sorry about my tone but i got a little peeved at seeing how one or two persons comments could have everyone defending the core of what we believe so strongly in.. I try to stay away from negativity because its the very thought in a persons mind that can make him successfull .. I have proven it time and time again.. Just be possitive and claim what it is you want and stay focussed and see what happens .. thats why i dont let people distract me from what i do or what i want.. I have respect for some here than others and for there level of intellect they should’nt allow themselves to be drawn into such garbage. i am religious but don’t believe in organise religion and so often i think of the banks acting now as cults .. our only way is to get away from them.

  871. Skeem said,

    November 27, 2007 at 12:12 pm

    http://www.monsterball.nl/

  872. VMS said,

    November 27, 2007 at 12:16 pm

    Don’t get me wrong when i say stop talking so much on FX TRADING… when there is info on how the market is going then by all means share the info but tooo ofetn than not i have to read about how credible Fx Trading is and what cash plus is doing and all that kind a jazz i say if they are that worried it aint for you.. afer 4 to 5 years if you dont know and your money is in it then you don’t deserve to be there..

  873. VMS said,

    November 27, 2007 at 12:19 pm

    Ever notice how repetitive we all sound after a while??

  874. Patricia said,

    November 27, 2007 at 12:22 pm

    Sorry Curves not in USA, dont know about BOA

  876. AD' said,

    November 27, 2007 at 12:38 pm

    # 822, 838, 829, 870, 871, 875 : Skeem I notice that you never say much but you continue to give links to these offsshore banks. I don’t reject, but we would like to know the person behind the link. Say a word or 2…

    AD’

  877. DH said,

    November 27, 2007 at 12:59 pm

    Well said VMS,
    We should be thinking of other investment other than forex. I have been doing alot of reading on various finianial web sites to get an idea of other types of investments that can give very high returns on the principal in a matter of Weeks or even days such as IPO’s etc. But I am not interested in inventing the wheel, so a mentor will be ideal in helping me become more knowledgable.
    I had a conversion with a friend and he said, he bought a 2ct diamond for U$36000 for his wife’s ring. Two weeks later the company that registered the diamond call, asking if he was willing to sell it. He replied U$45000 and the company was will to take the diamond at that price. IF he had sold it, he wolud have made U$9000 in 2weeks, that’s a profit of 25%
    MY point is, there are other types of investments out there and all we need is a little exposure

    Peace

  878. AJ said,

    November 27, 2007 at 1:45 pm

    Anyone has an update on how today went at the Banks and on the talk shows. I think you all have done very well in keeping the message alive so do not lose momentum.

    Re 867 et al.
    Blogging is for persons to express their opinions regarding issues that concern them (just like talk shows) so I do not think that anyone should be insultive to persons when they are passionate about an issue. Those who want other issues to be discuss can introduce it and the information will flow, but this is freedom of expression so no one should be forced down a certain path when they have other burning issues they want to get off their chests.

    I have visited blog sites on this issue and this is the most intelligent set of comments I have come across so far. There are sites with profane language which is quite repulsive.

    I particularly like extracts from newspapers as I do not always get the time to read the papers daily.

  879. Patricia said,

    November 27, 2007 at 1:48 pm

    Jared Martinez(MTI Head) is currently on Mutty Perkins, giving him a little tutorial..ofcourse you know Mutty and his questioning but the FX Chief, supreme marketter that he is, is soo coool, not ruffled, and advertising the hell out of MTI for FREE …;)

  880. AD' said,

    November 27, 2007 at 1:48 pm

    Hello Bloggers did you see this article today online.

    Alternative investment schemes could drive up inflation

    Tuesday, 27 November 2007
    Concern is being raised that activities associated with alternative investment schemes in Jamaica could lead to spiralling inflation.

    With reports of investors earning double digit returns on their investments monthly, one observer has pointed to possible dangers for the economy.

    Apart from triggering higher inflation it is feared that outflows from these schemes could also put additional pressure on the foreign exchange market.

    Vice President for Business and ICT Services at UTECH, Dr. Kofi Young, says if support for alternative investment schemes continues to expand the ripple effect will be far reaching.

    “If they are actually doing this and dealing with this over time the Jamaican economy will start feeling the effects by way of inflation so we could possibly be on the verge of an inflation spiral,” said Dr. Young.

    “What investment could give a return of more than a 100 per cent and they are not giving much information on this and this leaves us to speculate if these are some pyramid schemes which history has shown that these schemes are not sustainable,” he said.

  881. Patricia said,

    November 27, 2007 at 1:53 pm

    He has remarked that anecdotally, he has heard that C+ trading commodities(in Far East) on leverage

  882. gary said,

    November 27, 2007 at 2:33 pm

    @Patricia, I have always kept my cool about cash+. Because while the others panic and react in a foolish manner, I know something they don’t know. Mr. Martinez is a smart guy, read between his lines. Cash+ has ways of supporting their 10% with change left over. I can’t and wouldn’t say much. Have you heard any thing on Olint?

  883. Patricia said,

    November 27, 2007 at 2:37 pm

    Gary, nothing on OLINT

  884. Concerned said,

    November 27, 2007 at 2:39 pm

    This came to me and tell me what you guys think:

    If the amount of funds under management of these alternative investment schemes is approximately 25% of the sector, what if they decided not to leave jamaica but rather use one bank. What if they just decided to choose one bank (i say go to first global as it is jamaican and 4th largest). Then disclose all that the banks say they want (inhouse financials and the details of # of customers and just prove that they do their due diligence with the proof of income that we are required to provide). But they (c+,olint,ww,lewfam,wb)all come together and only go to one bank. When that bank gives them the go ahead they put their money their and we put our money there as well. we take our car loans from there, we send our salaries there, and we send our monthly considerations there…. How do you think the other banks would deal with that… They may try to bar FGB from bankers parties or bad mouth them… but that would be expected when you are large and incharge as im sure they would be….

    Dont boycott all pick one and make it the strongest the the detriment to all.

  885. Patricia said,

    November 27, 2007 at 2:42 pm

    For sure, trading options and commodities on leverage can reap huge rewards consistently if you really know what u r doing…..It is my belief that C+’s asset acquisition is a part of this, (i.e to facilitate the trading on leverage…just my foolish thoughts…anyways let me go back to gathering my nuts for winter :)

  886. Paige said,

    November 27, 2007 at 3:06 pm

    For all the US citizens out there. I just called the IRS today and asked some hypothtical questions regarding the foreign investment income. I was told that investment income for US citizens where ever the source is, is just that and needs to be reported. He said foreign earned investment income is just the same as investment income in the US and even if you do not get a 1099 you have to report it. the IRS rep said even if you earned the investment income on Mars if you are a citizen it has to be reported when you file your taxes. It’s classified as unearned income and he said something about a schedule D. He said it doesn’t make any sense not to report it because they always find out through back channels such as the consular offices, etc. I wonder if he was just bluffing. What I didn’t ask was for those who only have green cards how it would work.

  887. Comment said,

    November 27, 2007 at 3:24 pm

    Page i hope you did not give away any private details of the clubs name to them when you called this could only make matters more complex, as every telephone call is recorded.

    Regards

  888. Michael said,

    November 27, 2007 at 4:20 pm

    #886 Paige everyone living in the US who earns , wherever the earnings comes from is expected to disclose it on their tax returns. Its refered to, as “reporting on the honor system”, by my CPA wher there’s no proof or documentation of transactions just your word.

  889. Yardman said,

    November 27, 2007 at 4:26 pm

    URGENT MEMO TO ALL GREEN CARD HOLDERS & US RESIDENTS WORLDWIDE

    A Tax Attorney & CPA has advised, that the following IRS Form TD F 90-22.1 must be completed, for any overseas based account i.e. Checking, Money Market, Stocks, CD, Bonds, Alternative Investments, etc.

    http://www.irs.gov/pub/irs-pdf/f90221.pdf

  890. Paige said,

    November 27, 2007 at 4:37 pm

    Comment,
    No disrespect but as my post indicated I threw out hypothetical questions. Of course I would not give out pertinent information.

  891. Cleon said,

    November 27, 2007 at 4:43 pm

    Any update on higgins warner….anyone ??

  892. mathetes said,

    November 27, 2007 at 6:46 pm

    Hey guys

    The new page is called COGITO located here http://wealthmax.wordpress.com/cogito/ , as I indicated that should be the last additional page, I will be putting up a website where I can load more information, audio files, etc. Most importantly, it will have a blog or forum feature.

    Andre

  893. VMS said,

    November 27, 2007 at 11:56 pm

    HD, how do you manage to post and mentain blogs on every blog page thats available? I can hardly keep up with one..

  894. yahmil said,

    November 28, 2007 at 4:41 pm

    hey 878 hear that Wayne Chen (brother of michael lee chin) NCB borad member admitted that Banks do trade in forex

  895. JELPAS said,

    November 28, 2007 at 6:46 pm

    “ENVY NOT THE OPRESSOR NOR SEEKETH NONE OF HIS WAYS”

    Lets not be like them but be positive and find ways around all the doings.

  896. BlueBird said,

    November 29, 2007 at 4:10 pm

    The conversation has move here: http://wealthmax.wordpress.com/cogito/Andre created another…this one is too slow now.

  897. BlueBird said,

    November 29, 2007 at 4:11 pm

    Here it is again :) : http://wealthmax.wordpress.com/cogito/

  898. Anthony_Dundee_FL said,

    December 1, 2007 at 8:00 am

    Hi Folks looking at joining Lewfam, looking for comments both positive and negative. Especially from those actually in the club. How long have you been a member? Are you happy with returns? Can you vouch for their integrity? Does Olint trade the acct? Anyone in their new GAIN CAPITAL acct let me know as well and how did they do in November.

    Thanks
    Anthony
    email anthonythelandman@gmail.com

  899. Jordan said,

    December 1, 2007 at 1:27 pm

    Greetings all, I have been reading your comments and had someting to contribute to this Cash Plus/NCB issue.

    As you know the commerical banks in JA is rooted too
    deep in our financial infrastructure to be boycotted. But,
    we can take a more crafted approach to crippling the united front that the banks are taking by forcing them to
    fight one another. How can we achieve this ?
    Well we can withdraw as much funds as possible from NCB and move them over to BNS. I know what you are thinking…..BNS??? . Yes, remember BNS is NCB’s biggest rival (lets not forget that), and they can facilitate our banking conveniences in lieu of NCB. What do you think will happen when NCB realises that their customers
    are moving to BNS ? –> BNS vs NCB war for customer base.

    We let these two duke it out, we use the divide and conquer model on these guys, not to mention send a strong message that we mean business. Once NCB is disabled and BNS starts to misbehave we move to the next biggest bank and so on. We cannot switch to JMMB, JN, FC, etc, but perhaps RBTT. Most of the other financial institutions have accounts with NCB. NCB is too
    big to be taken on as a group. So my choice for BNS- is that, it is the lesser of two evils. I dont think picketing will work, but please if anyone wants to, I support you all.

    When you have read this comment, discuss it with your friends before you decide, don’t just dismiss it. I know
    it can work. Remember NCB is all about profits, and we
    have a viable shot to cripple them – AT OUR CONVENIENCE. Yes, I am a BNS client, but I am also a
    big cash plus investor. Cash Plus deserves our support
    and it wll not take much effort on all our parts.

    BNS is independent of NCB and can provide us with all our CC/DC and other banking facilties. Theirs is our only
    serious alternative. So please think about it.

  900. Carla said,

    December 3, 2007 at 8:21 am

    Jordan # 899

    I prefer moving the funds from BNS to NCB. Seems like you are doing some marketing for BNS.

    BNS was the very first bank that decided that they would not honour Cashplus cheques and was also the first to close their accounts. So I say move the funds from BNS to NCB.

  901. PoorRiskTaker said,

    December 3, 2007 at 9:44 am

    The conversation has move here: http://wealthmax.wordpress.com/cogito/

  902. Risklover said,

    December 3, 2007 at 12:09 pm

    I have invested in all the Major schemes now present in Jamaica and continue to do so in some. I believe that they all have an element of FxTrading, Money Laundering (albeit not known by the principals) and the infamous ponzi system, the question is to what degree they practice each.

    Cash plus I believe has all the traits of a ponzi scheme. I invested with them for 6 months, got my interest and principal back. Decided against them when I visited their office and asked some probing questions. I was told then that they got most of their money to finance interest payments through the sale of phone cards. This in my estimation was unsustainable as the major player in the phone card business is not cash plus but instead, the local phone companies and a local conglomerate Neal & Massey. It has been rumoured that only about 15% of the cash plus so called investors take interest on a monthly basis, this is very risky behaviour. I suggest that those who are a part of it take interest monthly, that would be the true test of their system. I know they are in a cash crunch as evidenced by the folding of one of their companies Megaphone and the fact that they are asking more investors to come on board and not take interest. Just a matter of time before things fall apart.

    Where OLINT is concerned, I have been a part of them for 2 years. Never seen their financials but I do some trading of FX for my own account. FX trading is viable if you know what you are doing. I however believe that the returns of 10% are just not sustainable and encourage members to take their interest monthly. I believe they are largely FX trading but have elements of Ponzi and Laundering too.

    More to come.

  903. mally said,

    December 3, 2007 at 5:27 pm

    Hi Cleon, it seem as it is not many of us in Higgins Warner out here at all. I just have to tell you that I am now missing three payments, two in one month. Max Higgins who normally takes calls , no longer takes calls. He said he deposited all the money in Jamaica, I do not believe that !! Why would a company based in Argentina deposit every penny in Jamaica ? I cant believe he is doing this. After I went in I heard he was in business in Jamaica before and closed down with money for a lot of people.Anyway hope things will work out well for all ,still hoping to get back my money. Those out there who have not yet joined ,look else where.

  904. Poor Risk Taker said,

    December 3, 2007 at 11:27 pm

    Guys,
    The conversation has move here: http://wealthmax.wordpress.com/cogito/

  905. TB said,

    December 9, 2007 at 7:41 am

    I have gone 120days and have thirty days left I withdraw my interest almost every day and they are efficient when it comes to that. This is my referral link for those interested. http://www.minvestment.com/?r=jettt.
    CHECK IT OUT!

  906. tgm said,

    December 9, 2007 at 3:22 pm

    can someone refer me to capitalhillfx please

    thanks

    tgm@flowja.com

  907. NM said,

    December 9, 2007 at 4:07 pm

    TB how you draw your interest and it has a lock in period

  908. NM said,

    December 9, 2007 at 5:04 pm

    I need someone who is in opentrade.net to send info on how it works to Jhevereann@yahoo.com

  909. debby said,

    December 9, 2007 at 11:56 pm

    how much did the b olint pay this month

  910. Lots Ofmoney said,

    December 10, 2007 at 5:41 pm

    Hello to the board……boy reading this board sure has been entertaining to say the least….like most of yourselves I too have been scouring the net to try to educate myself and to gather as much information about all of the different clubs out there as possible…and I too was sceptical in the beginning, but that was some 12 months ago….since then, I have taken a few online fx courses and have felt much more comfortable with the possiblity of Olint and F1 in particular that making those kind of returns….me with very limited experience and trading on mostly whims and feelings have managed to gain almost 15% in just under a month in my demo account…..just imagine what an experienced trader like DS can do with so much funds at his disposal….

    ….as for Cash Plus, i do feel sorry for those of you who are trying to fool yourself into thinking that CH is doing nothing more that a straight up Pyramid scheme……what he is currently doing now is taken right of of the textbood for Pyramid scheme101….especially with his latest text messages..enticing clubmembers to suck in more members and they will receive weekend retreats….and deposits on houses and was it motorcycles!!!!….what a joke….can they get anymore desparate than that…I’ve gotten it from reliable sources that now Mainland will be joining the ranks of the deals gone sour ….they will be taking that back cause CP cannot make the payments….the house of cards have started to crumble……I know I’ll be getting a lot of flack for this from all of you brainwashed die hards…but hey been there done that ….when I started trading securities and got emotionally attached to to a stock and not wanting to let it go…despite all of the negativity and the signs basically staring me in the face….wake up people….these things can’t last forever…if you’ve invested long enough to get back your principal…withdraw it and play with the banks money….Investing 101….preserve capital….good luck to all….

  911. Alex said,

    December 12, 2007 at 3:43 am

    minvestment is good

  912. Alex said,

    December 12, 2007 at 3:46 am

    If you need a referal my to minvestment it is
    http://www.minvestment.com/?r=cariser

  913. Dee said,

    December 12, 2007 at 7:01 pm

    How do you know minvestment is good. Have you benefited for it as yet? I am sure no one yet has.

  914. Poor Risk Taker said,

    December 12, 2007 at 8:14 pm

    Guys,
    The conversation has move here: http://wealthmax.wordpress.com/cogito/

  915. Poor Risk Taker said,

    December 12, 2007 at 8:14 pm

    Guys,
    The conversation has moved to Cogito<<Maximizing Wealth http://wealthmax.wordpress.com/cogito/

  916. Maranda said,

    January 11, 2008 at 10:44 am

    Can someone provide me with a referral to F1 investment.

    Thanks

  917. Delroy said,

    January 15, 2008 at 7:34 pm

    Can someone please send me a referral to May Daisy? My email address is gurd8@aol.com. Thank you in advance.

    All the best,

    Delroy

  918. shay said,

    January 24, 2008 at 4:23 pm

    I’m a jamaican living in the new york area. i have no family in any of these club and i’m wondering how someone like myself can get involve in maydaisy, worldwise, olint, lewfam?

    and has anyone heard of kean exchange.
    jamnation_ja@yahoo.com

  919. NM said,

    January 27, 2008 at 9:35 pm

    guys the conversation has moved to http://wealthmax.wordpress.com/do-you-have-control-of-your-retirement/

  920. Legal Mind said,

    April 15, 2008 at 8:51 pm

    The Blog owner needs to the STOP CUTTING articles off the gleaner and observer and other sites and posting on blogs without permission. They should remove posts by guest that involves post an entire article from news sites…

    Out of respect for copyright and fair use, you should post the Title, a summary (2 sentences) and a link back to respective new sites for the rest of the article. What you are doing is copyright infringement and illegal

  921. arlene said,

    June 24, 2008 at 9:59 pm

    Hi, any one can give me up date on olint also an invitation to olint

    Than you

    arlene

  922. Fancy D said,

    November 24, 2008 at 4:29 pm

    You ppl who are on here trying to bash me and talk trash about me…..you all can kiss my brown ass….first of all mi live a foreign. Max tek mi money….unno see the economy lately…I have my own damn problems….mi DID get mi check from Max….but a POST DATED check CANNOT pay my damn bills. So until the 28th come wha more unno waan mi come pan yah come chat seh?????.

    As I said before unno ago gwaan and gwaan til unno bit off unno damn nose fi spite unno face. Mi not posting NO MORE INFO pan yah. Anybody who still have intelligence can contact me PRIVATELY. Cause I cant and dont have time to deal wit IGNORANCE. GOODBYE and I hope unno check dont BOUNCE

  923. Mr. Worried said,

    December 5, 2008 at 12:01 am

    Hey FancyD how did it go you your check encashed.


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