investforlife
jay
nocotecRadio Jamaica is reporting that rumours that OLINT’s head, David Smith attempted to commit suicide are NOT true. The reports of a suicide attempt were quashed by Senior Superintendent of Police Hubert Hughes in Turks and Caicos who spoke to RJR. Senior Superintendent of Police Hubert Hughes who is leading the police investigations into OLINT’s operations in the TCI, where David Smith now lives, strenuously denied the rumours.
This is latest of a number of rumours swirling around since Olint has failed to pay its investors for at least the 7 months and based on the latest statement they are seeking another 9 months to make good.
Source:OLINT’s boss did not overdose
n.b. We would appeal to people not to spread such rumours, as these rumours not only affect, the person named but also those who have been waiting to hear what is happening with their funds.
Filed under: Olint | Tagged: David Smith, Jamaica, News, Olint, Scheme |
Real Investments For Life 
Interesting. What if he really did try? Would the public really know? Could it be that it is really that bad, the shiit has hit the fan?
What would change about the people’s money? the supe in TCI seems to be off the mark. God forbid but a death of DS does not cancel the debt.
We remain at the same score for now vis a vis the TRUTH…
DS -100%
Members and john public- Nil
time longer than rope though
Invest for life
If we have not heard anything that means anything in 8-9months do you think we are going to hear through the same pathways as we have always tried to do??
Perhaps a change in pathway?
The destruction of credibility stemming from the Olint debacle is amazing!
RJR how can you confirm or deny “ANYTHING” about DS???
Answer me dat. In fact any of you try answer….and BTW ….don’t tell me you spoke to him or saw him recently….that means nothing.
Don’t try tell me “I got it from a good source” and “this came from very high up”
you set of fools…I can tell you that people who see almost daily in TCI don’t know a thing…..and some who will see him tommorow and will return not knowing a thing.
Dig?
Nuff tings TS don’t know
Nuff nuff tings WS neva know and will neva know the nuff tings fi come.
Dig?
Nuff tings LO don’t know and PB don’t know and MM and AM don’t know.
I want to know someting….what about the itrade reply to the complaint? 30 days going fast…..
Nuff ting OBG and DW and AS don’t know and JR and DV certainly don’t know nuuting.
Largely these and others can’t know because their emotions are cuaght up in securing their own money inside olint. It will take a truly independent person of influence who is totally removed fromthe money and small island politics before any of us get truth.
Read Desireen Lawrence’s letter to DS in the gleaner. She must be reading sirach to %^%^%%&*^!!
Over 2 u Mr. Smith. Over 2 u.
DS is no longer in control..whether he commits suicide or not does not matter as he will have 0 decision as to how the little money left will be distributed. For all I care he might as well since he has screw peoples lives.
Catd
“For all i care he might as well”….that statement is very very cold……even if u feel DS has done us all wrong . Most of us have lost as well – but that is cold.
Do u honestly feel he set up OLINT to screw people ?
MK,
I know people who are about o lose their homes, cannot pay their bills and may themselves commit suicide..Its the victims I care about. A just lend a friend money to refi her house so she would not lose it due to DS follies.A jamaican friend son is now living with me bacause he cannot afford rent. he is a student who was depending on O to pay tuition fee. He may have to drop out of school.
You honestly feel I care about DS. DS has his high powered lawyers to defend and keep his ass out of prison. what do those people have. At this time I pray for those victims and could not care less about DS.
He is a liar, cheat and the lowest type out there. He used folks money on gambling,strippers and sponsorship.
DS serves no purpose to anyone anymore. No one will be letting him trade anymore money. Between lawyers and the justice system…he will not be getting his hands on whatever is left.
The police and authorities have frozen his assets. they have the records. its not like he has knowledge left in his head that noone can get to. whatyever he is hiding will come light in the records and computer.
Let me say this publicly. DS has no purpose now. He would be doing society a favor if he took the plunge.Trust me.
catd
No no no – he needs to live a LONG live and deal with whatever the consequences as well as have his conscience torture him – hopefully he has one.
long “LIFE”
the funny thing is that Over on facebook, there is a supporter of David Smith group.
somehow they think that DS is going to rebound from this and that it is all a big conspiracy.
David self distructed because of his own debauchery, much like the Roman Empire.
Even if he is absolved of these charges, the accounts unfrozen, and he gets back his files, he will not be allowed back unto any fx trading platforms
Let us remember that he is unregulated, the relevant authorities are not going to allow history to repeat itself.
Mikki,
I agree with you. DS needs to live a long life….. (behind bars)
There are a lot of people who are spending significant amounts of time behind bars for doing a lot less than DS. I don’t care what his initial intentions were. He has known for quite sometime that this was going to come to an end and he continued to screw people for as long as he could get away with it. No pity for him!!!
Janice
Tommorow is here! in fact most of the day is gone. We are waiting….oh yes you’re over on facebook showing the bad man dem your photos for ID purposes…I forgot
remember to check us over here….
needy
DS only self destructed us. Not himself. But luckily we followed his lead an set aside a little thing for emergency to deal wid dem. Kinda like he and WS did together in putting someting aside (Wink, Wink).
Told you so
That is the problem that i have too.
When this man realised that things were not kosher, instead of becoming a Ponzi,
1) he could have checked his shortfall
2) declared trading losses for the month
3) Payout whoever wanted their principle (less the
loss)
4)reorganise and continue trading for the remaining
clubmembers.
But no, DS chose to continue the high life, jetting all over the world, partying and gambling with peoples monies.
It had to come to an end,
Now he is blaming everyone but HIMSELF.
We have FOOLS who are blaming and calling for a boycott of LeeChin.
LeeChin is worth billions of his own money.
Yes he has a jet, chopper and a yatch, this in commonplace with billionaires.
Do you hear or see LeeChin Partying and gamling anywhere?
Do you hear or see Butch Stewart, John Issa, Chris Blackwell, the Hendrickson’s partying and gambling anywhere?
These people are all in the entertainment bizniz, but they are BUSY working to advance their products.
This is the way buisnessmen work.
Infact you do not even see drug smugglers partying and gambling, they too are businessmen.
At the end of the day, DS image was the most important thing to him.
Now that everything as crashed, he is asking for pity.
Did he not think of that when he was wasting peoples money at the Jazz Festival?
I HAVE BAD NEWS
Friends, although it pains me at this time I have to let you know that I have been “BLACKLISTED” from Olint for eternity. I am never allowed to place $$$ in there again. I shall never be able to earn 3-17% a month again…..
Go for it guys…you get the full hundred….I envy you
I am devastated. I have lost a privelege only I Ocan dream about and you can actually experience. Don’t be like me and ask for any money. You might never be able to be a member of olint again. I will never be able to go to the courteous office and can only reminice on the mutall respect given to me there by the CEO and others.
You guys have done the right thng. You have secured your membership for all eternity. What I fool I have been. I should have sat on my ass and done nothing like the restof you.
Lawd havis mercy…oh….boboobhhooo boo hoo booh ooo
Hoe dare me to ask for MY money. i should have followed the pack
Sirach, nice comment. But guess what. You took a chance. It was not the bank. So live with it. Who knows, maybe the dude will pay back all you other gamblers.
You talk about his gambling and having a ball. So what. Think gain if those puny billionaires do not do the same. It is just that they probably do not go to such low scale establishments to be seen by the peasants.
You all are gamblers just like DS at the casino. As you gambled your hard earned cash on 10% a month, each month, for months and months, and months with big dreams on earning massive returns. If that was not a MF gamble then tell me what was.
needy—good post
Has sirach not put the “principal” argument to rest. Please refer to sirach’s former posts!!!
kingstonchronicle
DS, WS, TS and olint wrote in a document that 80%of the funds would NEVER be at risk. they tried to adjust that philosophy later…..BUT….they did not return the money THEN try and change the rules….
It is this that is going to mek them go a wukhouse….to the point that you try to change the rules..the first contract is in effect.
BTW if they want to change rules so can the members…
Can they deal with the new rules members set?
‘Are yu sure
you can deal
wid the new
members
rules….
widout fliping up
an keeping up antics…
you betta tink good…
before you ..
answer…are you sure…
nobody was duped.
Olint did not promise or gurantee 10% per month
People were told that it was a fx trading club and everyone knew the risk associated due to volatility of that type of market.
DS chose to change OLINT into a Ponzi scheme, to fuel his new found unsatiable appetite for debauchery
Do you realise that is DS had continued along the original part, and was paying 30-40% interest per year, which I understand is the market standard, all the banks in Jamaica would have eventually opened FX trading houses with managed accounts to compete with OLINT?
People were not gambling with their money?
They were hoodwinked by a man, who for one reason or other, they though was honest and credible.
Just go over to facebook, and you will see that there are many ppl who still think and believe that there is some conspiracy against DS.
There are people there who knew if before and are still swearing to his integrity
These people are the same ones who saw him living it up with THEIR/ OUR money
There is no market standard. If they “duped” themselve then you need to ask WS bout duped and that.
they gave statements saying this is the balance on account. If the balance was not there then it is fraud….
Then it is wukhouse…..and you still owe the money…and the host of reputation issues and how schoolchildren look on your offspring and stigmatize them for things that are only the fault of the various parents….this is why sirach always seh “the money part is fading fast in terms of relevance”
AGAIN:
If you got all your money tommorow….would you let any of these people mind yu pickney fi half hour while yu go a shop?
If you got all your money tommorow and Olint invited you to a celebration party….would you attend?
What have the smith’s been trying to say?
It was risky and you can loose everything? Naive.
and……
What we (Smith family) have is different from said losses? Crazy.
What we (Smith’s) say is how it a go go? Silly.
People not going get their money fromthe Smith’s?.Unwise.
I want to ask a question,
with all the investigations that are going on. If say for example DS had U$750mill on a platform and moved it.
Would anyone really expect him to now come out and say.
“Listen crowd of people. I have 750million stashed. just give me time”
Wouldnt this alert the FEDS to more funds that they can find and freeze?
Maybe this is why DS is slient at this time.
This is just an example of what might be happening at the moment and is intended for the hopeful.
Needy:
Do you really believe someone can really hide $750 Million? If anything close to that is moved thru the financial network, it is very easy to track where it went and would only add more money laundering charges.
Anything positive written here is soon deleted
I was told yesterday he said he had the money. How much was not disclosed.
That 750M is just hearsay that people believed to be fact. I doubt he ever had that amount of money.
Ken,
Yes US$3.7 on the FXCM platform.
That information was made available since Monday,
No post are deleted expect unsavoury comments and abusive language.
Ken:
I think it was deleted because the person who posted that information was doing so under some other person’s nickname (Janice?). It did not come from the “real” Janice and hence was viewed with suspicion. If the information was posted by the real Janice it would not be deleted. It is not the intent of the administrator of this site to delete post…unlike the #4 bus (which I think you are a passenger). I think the admin will respond to your statement, but I wouldn’t make such statement in the future without full knowledge. It makes it appear that you have an axe to grind! Do you?
The TCI people seem to have eased up DS in allowing some access to day to day expense money. This is extremely suspect and with a commision of inquiry in the mix seemingly stupid as well.
@Ken
Here is the link to the post
There were multiple posts of the same thing (SPAM) so we deleted the multiple posts and we discovered that that Janice was not original Janice but an imposter… but we left the post anyway.
The duplicates where deleted and the #2 added so you have Janice#2
sirach
Is that solid information you have about ease of restrictions on access to cash?
Well it was stated that there are no travel or other restrictions. so what pressure id he under. the report about the money is unconfirmed as most things are.
If he does have No access to cash then it is highly plausible that the entities providing services (e.g security and travel for family etc.) would be filing complaints for funds/bills owed. to date we have not seen any of this.
what u think?
sirach
I think it is in his best interest to keep his butt in TCI since he has some explaining to do.
To go back to an earlier post – what do you mean blacklisted – was that a joke or are you serious? Olint as we have known it does not exist so if you are serious, blacklisted does not mean jack.
p.s. I think there are some articles or posts I am missing – or maybe I just haven’t regained my usual sense of humour yet.
Mikki
I was being sarcastic. The threat of being thrown out of Olint for being too “uppity” was used by Olint in the first run. Then it was never inacted. Then the threat was used again recently.
Even as we speak there are people mainly on the facebook rubbish that through fear and hoelesssness and despair still talkabout not being able to get “back” in when this is “cleared up”
There are to this day people whoose sole concern (through severe mental dementia) is “What are the returns for June?”
CAN YOU BELIEVE THAT!!!!!!!!!!!
sirach
OK I think I am getting my sense of humor back now – no I can hardly believe that question but the last 2 weeks have really been stranger than fiction!
Thanks.
the last 2 weeks! Mikki where have you been. it has been going on 9mths!!!!!!!
Ease up the sitcoms and the magazines and the vanity life and become a progressive memeber of the society.
Come on man!
Dave Sin
I know that 750mill is hard to hide.
I was just being Devils advocate, and showing a reason for DS silence
Not all large monies being wired are suspected of being laundered.
large wires are an everyday phenomenon, and I doubt if most ML activities today involve large Wire Transfers, since they are like advertisements.
DS said today that nothing can be done until his audit is completed, which cannot be started until he gets back his documentation from the TCI authorities.
I honestly think that the whole TCI investigation is a fiasco, and a way from DS friend to protect him from the Feds.
Jay:
Jay:
Take another good look at the NFA complaint:
1. Olint had at least 4 accounts with MTI.
2. US$30M was transferred to JIJ investments. Where is that money?
How many other platforms did David “trade” on?
.
All the questions that are being asked cannot be answered until all the invetigations are finished, just like how no funds (if any is available) cannot be repaid until then as well
needy said: “I honestly think that the whole TCI investigation is a fiasco, and a way from DS friend to protect him from the Feds.”
That is an intriguing idea and not far-fetched. I wonder …
I actually think it is very unlikely to be so, but still …
@Jay
Thanks for the redirect from wealthmax – I think the exchanges here have been very constructive – will keep reading. Also had a read over by bus#4.
Listen
DS,WS and TS do not think that their money or lifestyle is deserving of any adjustment due to this …………………….BABY!
After giving them your own money the responsibility for it was the job of the wind, the sky, and the sea.
Bend over quack-quack today’s dose of medicne from doctor’s DS, WS, and TS is here….and the prescription will be repeated tommorow….the day after and again and again and again….
sirach M.D.
Rx
Prescription: Vasaline/KY….
Dosage: Daily for the rest of your life.
Insurance: no copay
….you have to buy the product after your debts are settled FIRST then …if you have any money left.
sirach
I have not been dealing in million dollar sums so my REAL issues with them actually started in March. Yes there had been latency but I was still getting paid. By April when I started to get concerned talking to people etc. I realized people had been in pain for a while before March. When I saw the May e-mail with dates I was actually waiting until the last week of June until people started telling me the June payouts had not been happening. From there the rest is history. And yes – for me it’s been delayed so it has been for the past 2 weeks that things have totally shifted for me. Little did I realize I am more fortunate than others in the continuing saga for which I am grateful. Day to day life and responsibilities have not afforded me the luxury of monitoring this thing as closely as I could have – but here I am now working on my plan b.
Mikki
You got paid in March? Shhhhh don’t tell anyone that. The badman dem have been making it very clear that assets purchased and payouts recieved by any Olint members belong to them!
I am glad to hear that you do not have millions and billions etc.
Notwithstanding you may use sirach M.D.’s same prescription but just adjust the frequency of the dosage to once per week.
waiting patiently for plan B. Make sure to wash your hands before you come back from applying the product and then tell us of plan B.
Regards
Sirach M.D.
Mikki
I am also glad to hear that your day to day activities still hold a priority position in your life. This is a dream for some of us who have plenty time since we had to leave our regular lives and be on the RUN because of the actions of you know who et al.
On Facebook
“Karis Chin-quee (Penn State) wrote
at 2:23am on July 18th, 2008
well one thing is for sure the “alternative Investment clubs” not going nowhere so the banks better accept that reality. Already they are getting slightly less facety”.
Guess she hasn’t notice that the Detractors kill off all of them.
She no look too bad though. Tek a look DaveSin.
Ingrid Riley (Jamaica) wrote
at 7:52pm on July 17th, 2008
Just got an email saying that
1. The site https://investforlife.wordpress.com/about/ is really a propaganda tool done up members of LeeChin’s camp to discredit not just Olint but other forex clubs. They are digging and checking IP addresses to find leads as to who’s behind this anonymously written site.
2. Fxstreet.com has a message board and this person call FX Scholar is all over it again propogandising anti-Olint stuff on there too.
You know I always knew the Net was powerful in building up and taking down brands, products, people and things….but seeing it like this…welll damn!
It’s interesting to be a spectator to all of this. Maybe I can write a book in about a year’s time.
Robin Irie:
I did way before you….I even post the second comment from Ms. Riley earlier today. Let me take a look again…..
Robin Irie:
I do not share your views on that one. Plus, mi nuh think mi ever seen an attractive Olint investor woman yet….all them eediat (watch out for blogkiller to surface out of the wood works now!)
Robin/Dave
What is the facebook link?
Guess you have to signup right?
DaveSin
Man a man and hours beat all fruits ripe 🙂
Jay
I think you have to be a member.
And the worse thing is that if you look at them you woulda think them have sense.
Henley Morgan’s article in today’s observer is poignant and incisive. It examines the role of the many influential church leaders in this AIS saga. They have led their followers into a path of destruction, and instead of exercising moral fortitude and admitting their folly, they now continue to perpetuate the myths about the character of DS, the dynamics of FX trading, and of course the vast conspiracy led by mlc to bring down ufo’s such as olint.
Dave
What happened to our girl Azziza?
Jay:
Here is the link:
http://www.facebook.com/home.php
You can signup very easily and put in some basic info (bogus) plus one of your true email address. You can do a search for “Defenders of David Smith/OLINT” and it will take you to the pertinent page.
Robin Irie:
Good question about Aziza! I miss that blog. I think that Ms. Riley is BlogKiller. What you think?
I am inclined to agree with you on the Riley woman.
i just followed the facebook link….dam!!
people are seriously deluded. again i draw your attention to henley morgans article in today’s observer. the churchs have incorporated this into their message to their followers. it goes “DS, an upstanding member of the christian community, a man himself of god, was sent by god to liberate his people. any action, including words, which goes against DS is not only a patent display of a lack of faith, but is a part of a vast conspiracy led by mlc and is consequently of the devil. pray, pray harder, display faith, and the funds will be released”.
they have not yet accepted that their financial savior DS, is a con man.
sad!
All Henley Morgan and the pastors have to teck Sirach M.D.’s prescription.
been reading here for a while but haven’t seen this possibility –
That DS did indeed have 750M in a trading account, which was almost emptied by the massive payout (rumoured @$600million) he made at the end of ’07.
Perhaps he figured he could make back a good portion of the money and failed in that endeavour leaving him with a cash crunch leading to the subsequent crash… (I mean he had to have some money to pay out hundreds of millions..)
On another note – its bad enough that there are feeder clubs affected, but what’s worse are so called fx traders operating both in Jamaica and the US, who deliberately misled their customers by claiming to have nothing to do with olint. Many people who thought they were safe (and were snickering at others in olint) are now in shock as the company they thought they were safe with was indeed riding the coattails of DS by handing over their money to him.
Any minute now you will hear Worldwise’s confession…
Jon:
I think you fail to realize that DS is the messiah and Olint is the TRUE Church of the FX. This is religion for a lot of Olint supporters. The club members (church goers) will only get it once the crash is confirmed. They will all disappear into oblivion. The same thing happen when a lot of us blogged on the C+ site. It was amazing how all the supporters vanished into thin air.
Cannot believe 156 people and counting joining that facebook group….maybe is another Olint/David Smith they talking about….the one that actually pays money
The crimefighting plan is a setup to take the media away from Olint. olint not good for an election. The crimefighting plan good for election.
If the nationwide cover story is not about olint then turn them off. If the news print has no good/meaningfull articles on Olint then cease browsing their pages immediately
No olint on cover story…..log off OBG not saying anything about Olint. Log off.
facebook peeps know something that no one left on this blogdoes. what if we are the idiots in the dark?
When I log on to facebook and see the people supporting DS, I realise now how stupid DS really was.
Do you all realise that if he had just been honest, and honor his obligations, he would eventually have become the Prime Minister of JAmaica.
Then he could have really conned the entire country.
The reading for the day is taken from the Book of Matthews chapter 6:
6:5 And when thou prayest, thou shalt not be as the hypocrites [are]: for they love to pray standing in the synagogues and in the corners of the streets, that they may be seen of men. Verily I say unto you, They have their reward.
6:6 But thou, when thou prayest, enter into thy closet, and when thou hast shut thy door, pray to thy Father which is in secret; and thy Father which seeth in secret shall reward thee openly.
6:7 But when ye pray, use not vain repetitions, as the heathen [do]: for they think that they shall be heard for their much speaking.
6:8 Be not ye therefore like unto them: for your Father knoweth what things ye have need of, before ye ask him.
””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””””’
6:24 No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon.
needy, on July 23rd, 2008 at 6:10 pm Said:
When I log on to facebook and see the people supporting DS, I realise now how stupid DS really was.
Do you all realise that if he had just been honest, and honor his obligations, he would eventually have become the Prime Minister of JAmaica.
Then he could have really conned the entire country.
————————————————————————–
LMAO!!!!!!
Nothing wrong with persons sharing their opinions and showing their support…..it’s in most persons interest (like myself) that David is able to pay back something to his investors.
What a bunch of *******. Jamaican politics is shit. The generic Canadian ***** on the yacht parked outside Port Antonio sure thinks and his cronies (the media) can buy enough public hatred by spreading propoganda. All because of his banks losing $ eh! … Whatever!
Well…if he were to con the entire country would he not be walking into the footsteps of the J’can prime ministers over the past 30 years and the high and mighty i$$a’s, m’s, etc.? Are you people awake!…Hello…!
this is a post from Facebook.
Do these ppl really have a clue to reality?
Michael R. Douglas wrote
at 3:51pm
Smithie, just keep at it and we will support you. We just want you to communicate with us so we can put ourselves at ease and dispel all these nonsensical rumours. When the smokes clear, you will know what the next steps you have to make to improve your operations and we will still be there with you.
This man things that DS is a saviour
Needy, apparently it seems that you should be the only one expressing an opinion. I am glad and honored that you took the time to copy my post to this bus. I have no problem with that. I dont believe DS is a saviour, but I am not ready to criticize and demean him. That will not solve the problem that we are facing now. I am also not willing to jump up and say I told you so and gloat. Again, that will not solve our problem. I have expressed my opinion and will not change it. I will continue to believe that something will come up regardless of what is being said. Unlike some of you, I have invested in Olint and have an interest in the outcome. Calling DS names is not the way to resolve the problem. There is always an element of risk in what you do in life. Whether it is opening a business, sub prime loans, FX or driving to downtown kingston from New Kingston. We are aware of the risks and took the risks. Anyone on this forum who says that FX trading is a Ponzi is bending the truth a bit. Maybe DS got blind sided with his fortunes, fine! I just have an interest in sifting through all of this and see what happens at the end of the day. I am a realist.
I dont remember the person who said that Audley Shaw is a failure in business, he took a risk like several Jamaicans in the ’90’s did. There was a big pyramid scheme called High Interest rates facilitated by the BOJ and the Ministry of Finance. I wont bother go into the details as this is not the forum for it. Just remember two companies: Jamaica Mutual Life Assurance Society and Century National Bank.
I will continue reading and this is actually the first time that i have posted on this blog. I have not been on the other one.
Welcome Micheal.
Issue#1: FX Trading != PONZI
“Anyone on this forum who says that FX trading is a Ponzi is bending the truth a bit.”
There has been suggestions and arguments that FX trading is akin to gambling BUT I am NOT aware of anyone suggesting that FX trading is a Ponzi. For anyone to say that that would NOT be the truth.
What has been said is:
a) It is possible that a FX Trader can turn into a PONZI operator and stops trading Forex or limited trading
b) It is possible that a FX Trader was never trading in FOREX but was a PONZI operater from the beginning i.e. FX trading was a front/facade
c) it is possible that a FX trader had some some losses tried to correct the situation but the situation got worse. While trying to correct the cash flow situation the FX trader uses the new money to pay old customers, akin to the Ponzi, and but the liquidity situation gets worse.
There are a number of cases of schemes in Norther America, that
1. claimed that they were trading FOREX,
2. initially trading FOREX
3. had limited Trading of FOREX
that when they were busted, were revealed to have being running PONZIs.
I cannot recall FX trading=PONZI being suggested in the comments and certainly not in any post by the Authors of the articles on this site.
I hope that clarifies.
Issue #2: RISK
There is an element of risk in everything. However, I am sure that you would agree that there is a difference in being simply conned(by a con artiste e.g. CH, MH) or Fraud being perpetrated and the failure of a business due to business and market associated risk.
Michael:
How did you know that someone copy your post from Facebook to this blog? Have you been reading this blog all along?
Michael wrote
“Anyone on this forum who says that FX trading is a Ponzi is bending the truth a bit. “
Michael FX trading is a legal activity carried on all over the world by many individuals and company. FX trading in of it self is not a Ponzi scheme. However, what I think folks are accusing DS of is claming to be running a FX club while he was really engaged in an elaborate Ponzi scheme. Base on your post I can see that it is very difficult to convince you of the flaw in DS business model.
I will agree with you about Audley’s failure as a businessman being an unfair comment the rest of your ramblings I cannot follow.
Regarding DS/OLINT I have not posted here a lot but I have written a simple explanation to show the flaw in DS claim of success in FX trading and I have written to Mark Wignall along the same lines asking that he refute my claim or withdraw his constant support for DS.
If you understand the power of compounding you will quickly see why claims of growing at an average of 10% per month is fallacious. If you are willing to here what I consider an unbiased and rational argument against this business model just say the word and I will try my best to show it to you.
DaveSin:
Truth be told, the regulars and investors seeking info all read all or most of the blogs.
Welcome Michael.
I am not laughing at you.
I posted your facebook comment here because it shows the mystique with which you hold David.
You are condascending.
it is akin to saying.
Dear Father we worship you.
Please give us a sign, so we can show the weak and the Egyptians that you are with us
When you have parted the Red Sea, together we will walk hand in hand to the other side.
What you really mean is
David mi a fret.
Send an email telling me how mi money guh.
After mi get mi money from you mi will redeposit it with yuh. (yuh mussi thing mi mad)
I never said or thought that David started as a Ponzi, but he sure ended as one.
Just read the email that he sent to his wife.
Then again I suppose that you believed him when he said that he did not write the email either.
Ironically that was the last time that you heard from him
Michael- notice that the facebook memebership has stalled.
Needy,
LOL, ah true
Needy..
yuh funny, and like I said before – some people cope by holding on to the hope until they realise that they can manage without the return of said $$.
Personally I think its all gone, but I understand the need for other investors to believe they will see something even if it is cents on the dollar. Having said that, I don’t agree with your method of trying to get them to wake up to reality. They’ll get there in time, just at their own pace.
All I can say is “DAVID S” as long as you have life in your body anything is possible. Think positive and things will work out.
Should I believe he tried to end it all? Or should I not? Either way give thanks you are alive man.
Tell you what David. It will take you 2-3 years to pay back every red cent. So let me assist you in the process. Of course not my red cent, as you owe me nothing.
Make sure to save USD$200K for a rainy day. Think of it as the towel, better yet the kitchen sink. If what I heard is true US$100K at the casino and other strips then obviously you did not take a page out of my book or even read my e-mails.
Dude, US$200 million is peanuts. Look at it this way, Bebo.com sold for US$850 million in cash to Microsoft, Digg.com sold for US$200 million to Google, Facebook pre-money valuation US$3 billion and counting (with a Microsoft injection of capital of US$246 million).
Look to the Internet stocks, and start ups, not just trading on the Internet. You never know bro, you may just rise from the ashes.
This is my first post but I have been reading these blogs with KEEN interest. First and foremost I have to give big kudos to the moderator(s)? and posters because it is very well run, informative, professional, humorous at times and very real.
I consider my “investment” lost and at the end of the day is my fault and mine alone. I am in through a friend (2 actually) and nobody twisted my arm, nobody promised me any guaranteed returns, etc. I was hoping to mek a money, simple. Seemed like a good idea at the time and it wasn’t a large sum, but the appeal of tremendous growth sucked me in…..
BUT in hindsight the lack of transparency and informality of the club should have sent up red flags galore for any half brained investor.
All that said though DS should be accountable to every investor, he took the money, promised to trade it and kept telling people they were making “gains” month after month, if that was not so then it boil down to simple fraud and he should face the consequences. Pay back the money or prepare for a long stint in a TCI jail.
You know people complain that David ruined their lives. All I have to say is that when you signed up with Olint you were advised that there would be risks, so if you were dumb enough to mortgage your house then it is your fault for being one greedy and two not very smart. Nothing in life is for sure. The man never made any promises, keep that in mind. David Smith has provided us all with a chance at a better life he never told you to go and risk your life, you can’t, can’t blame the man for your greed.
Wow, people risk their homes? Yeah I heard it before. Shows you the power of money. “I wanna be rich baby” I wanna be rich, to all things that money can buy” or some crap like that I heard from a old song.
DaveSin,
I have been reading the Blog for quite some time now. I have never posted before. Just read, and sift through the information and try to pull what is credible and what needs improvement. Not to forget what is comedic and what is very serious. I will continue reading and keep my postings at a limit.
Banker, thanks for the offer. We can take this discussion off air if you require and we can debate it there.
Just remember now that lawyers are involved, all information released will be carefully scrutinized before being released. So communications will now be proofread and will be in ‘legalese’.
About the email, I am still unsure of that one. Any financial matters between my wife and I are done ‘pillow talk’ or on the phone. We dont send confidential emails via phone. But thats us. I can lean either way on it so I have not made a decision either way. Maybe some of us on this forum are not that security conscious. I have in the past, traced a malicious email to a specific computer using everyday tools that are available on the net, just to identify the source to the persons employers.
David is really up against the giant Goliath (literally) and Goliath is desperately trying to keep us in poverty. While they make 36 billion dollars in 3 MONTHS. (Image that!!!) While we caant even go to the supermarket anymore.
Goliath wants to maintain the staus quo – its US VERSUS Them down there and it aint qoing to work. Because we have discovered who the real thief is.
“LET GOD ARISE AND HIS ENEMIES BE SCATTERED”
“Digg.com sold for US$200 million to Google”
Correction, Google pulled out at the last minute. 🙂 sounds kind a male dominated huh. lol.
Digg.com has not been sold to Google.
Now.
Yes it is very easy to hide $750 million in fact super easy to hide even $1,000 million. How? Real simply, you can hide in your pocket, one pocket as a matter a fact, as long as they are ZImbabwe notes that would be a single billion dollar not, how hard would that be? lol
Now . Folks talking about high level financial calculus and the dangers of equations used in trading going south like the Trillion Dollar bet.
Well If I was not a Economist major and did not see the video about 5 years ago, and had a good understanding of the market (financial) I may have been as silly as some of these peeps who did not join the club in the first 2-3 years. Thus getting other people’s money if what most claim is a ponzy scheme.
If it was, which I do not think it started out as, then obviously like cash less those in first will reap rich rewards, and those who enter later will hold the empty bag.
My professor encouraged us to look at FOREX, but knowing then as a student it takes millions to make a few hundred thousand dollars much less millions I did not see why I should risk my cash on my own or with any one in the states.
Of course a few of my school mates were making US$8,000 to US$50,000 a day in one trade, but then in the middle of class would be talking how they lost it all in a few hours on one bad trade. Not my cup of tea, and especially using other peeps money.
So for those who invested and benefited, count your blessings. For those who stand to loose, house, car, savings, woman, man, friends, fame, honour, and the last shirt off your back, SUCK it up. You took a risk, when you read the fine print.
But I really think the dude will pay back what you invested.
kinsgstonchronicle
I trust you were being ironic in referring to as “blessings” the proceeds of fraud.
Putting money in a Ponzi scheme is not “investing”. Those who benefit are not “blessed”. If they are, I suppose those who lost were for some reason cursed.
Seems fair.
This is all a bunch of rubbish. Where is money David? I need my money!
I got a fax from someone trying to get me involved with Olint. Something to the order of a wealthy British musician that wanted another into the olint account.
Disturbing at the time and even more so now.