OLINT has Money in the Bank, but enough?

According to public documents obtained by Investforlife, the following is the situation on the Supreme Court Case in Turks and Caicos involving David Smith and Tracey Smith

The restraining order of July 19, 2008 remains in effect. It prohibits David Smith and Tracy Smith from dealing in their assets. It also prohibits anyone holding any of their assets from dealing in the assets.

The order applies to all of the respondents assets and includes

1. property and assets of the company known as OLINT TCI ( located at Hallmark Bank and Trust)
2. Property and assets of TCIFX Traders Ltd.

What about the money? In the business accounts here is the breakdown.

TCI FX – $5,550.54 (Expense Account)
TCI FX – $895,039.34 (Customer Account)
TCI FX – $264,562.15 (Certificate of Deposit)
TCI FX – $800.51 (Charity Account)
Total: $1,165,952.54
All held at the TCI Bank

OLINT- $6,567,230.18
Held at Hallmark Bank and Trust Ltd

All figures in United State Dollars

On Jan. 9th, the Supreme Court declined to discharge the restraint but will give it further consideration at a hearing to be set for the first open date after March 11, 2009.

Flashback

It was reported earlier, July 2008, that the amount  frozen at FXCM was US $3.7 million other and  US $0 (account now closed). 

Olint investors, direct and indirect, now need to revisit the NFA complaints against I-Trade FX. Where is the money ?  Should  investors be asking themselves where does the money in Ponzis go? 

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220 Responses

  1. I guess there was no freeze on personal accounts in TCI? Did “they” say anything about freezing accounts outside of TCI? If not, the actions in TCI are irrelevant at this point, since there are very minimal funds in TCI! So, where are the funds????

  2. Time to be sober. Simple. One across the bow please Mr. BUSMASTER.

  3. The question remains is how much money is still left in I Trade FX and JIJ Investments????

  4. 23 2003, they made an election contribution, $1,000.
    24 2004, they paid you $10,000 in salary. They made you
    25 a loan of $25,298.50. December 2004, another 15,000 in
    72
    1 salary, December 2005, 30,000 in salary. April 2006,
    2 they gave you a wedding gift. December 2006, they gave
    3 you $35,000 in salary. Finally, in January of 2008,
    4 the firm loaned you $275,000.
    5 So that appears to be an ongoing regular
    6 relationship with this firm which you tell us you are
    7 a consultant for.

  5. 22 First Caribbean International Bank. As I have already
    23 indicated, the statements stop running in September of
    24 2007. Can you tell us, please, whether you have made
    25 any efforts to get the statements from them up to date?

  6. 13 find them. A week later I wrote to them requesting more
    14 information and then they said their computer system did
    15 not have the statements in them due to a glitch. So
    16 that’s where we are working with on the bank end there,
    17 sir.

  7. DS said he send 200 million to jamaica… and the bank refuse this? Was this true and if so was this $UD or $JD? It sound’s like BS.

  8. 18 SIR ROBIN AULD: So when are we going to see the statements?
    19 MS MISICK: Sir, I honestly do not know. It isn’t for
    20 trying to obtain them from the bank.

  9. 11 MR MILNE: Sir, we will move on. We are now going to turn
    12 to two accounts that you hold in the USA, particularly
    13 the Beverly Hills account, HSBC.
    14 You disclosed some statements, as you indicated,
    15 just short of two years’ worth of those. Was there any
    16 particular reason why we didn’t receive more statements?
    17 Is that all the bank had on their records?
    18 A. In relation to the Beverly Hills account, which was —
    19 I can see my name was on it as a co-signatory. But that
    20 account was always operated and controlled by my
    21 ex-wife.
    22 So I wrote to the accountant who — her accountant
    23 who deals with the bank and I asked her for full
    24 statements in relation to those accounts. Today is
    25 the first time I am aware that you don’t have all of the
    PAGE 121

  10. 1 statements of that account. So the statements that were
    2 sent to me by the accountant was passed on to my lawyers
    3 and on to you.
    4 Q. Could you turn, please, to page 249 in your first
    5 bundle. Do you have that in front of you?
    6 A. Yes.
    7 Q. That is a statement in the HSBC account which we see is
    8 headed up with your wife’s name and your name and
    9 an address given in the Beverly Hills area which no
    10 doubt was an address that you use there.
    11 This statement that I am looking at covers
    12 the period, essentially July 2007. The statement is one
    13 of, as I said, two years’ worth. The bank account was
    14 reasonably active. In 2007, in July, on 20th July,
    15 which is about the middle of that page, a transfer of
    16 $100,000 is made into that account and there is
    17 a reference and it makes it clear that that is coming
    18 from the Belize Bank, Turks and Caicos and
    19 the West Indies. If one moves down it is not clear from
    20 this what the number of the account is. However,
    21 the person sending it is named and that is yourself. So
    22 you appear to have transferred $100,000 from
    23 the Belize Bank in the Turks and Caicos to your joint
    24 account with your wife, HSBC, in Beverly Hills. Nothing
    25 on the face of that would necessarily attract any
    PAGE 122

  11. 1 criticism or even comment.
    2 However, you have given us your bank statements for
    3 that period, for the Belize Bank in the Turks and Caicos
    4 and there is no corresponding debit from that account.
    5 Can you explain that?
    6 A. I would have to confirm that what you say is in fact
    7 true. At this stage I can’t recall. My assumption
    8 would be that it came out of my account. At this stage
    9 I can’t recall where it would have come from. My
    10 assumption would be it came out of my Belize Bank
    11 account.
    12 Q. You assume it comes from your account?
    13 A. That would be my assumption, yes.
    14 Q. Because you only have one account, you have told us, at
    15 the Belize Bank in the Turks and Caicos?
    16 A. In my name.
    17 Q. In your name. Do you have accounts that are not in your
    18 name? It is a serious question, I am not being flippant
    19 in any way, Mr Premier. Do you have accounts that are
    20 not in your name?
    21 A. The one that you are aware of, My Way Productions 2.
    22 Q. There is an account, My Way Productions 2 but it does
    23 not come from that account. It comes from
    24 Michael Misick. Do you have any other accounts?
    25 A. No.
    PAGE 123

  12. 1 Q. So how do you explain that $100,000 comes from
    2 an account in your name, at the Turks & Caicos Bank,
    3 that is — let me get this absolutely right —
    4 the Belize Bank, Turks and Caicos, on 20th July 2007 and
    5 it is not from an account that we know anything of?
    6 A. I assume that it came from my account. I have no other
    7 information at this time and unless I can confirm it
    8 with the bank, I would have to say that it came — I
    9 would have to see from where else it would come from,
    10 but I assume it came from my account. That is why it
    11 says Michael Misick.
    12 SIR ROBIN AULD: Would these be IBAN numbers, IBAN reference
    13 numbers to the account of the transmitting bank here?
    14 MR MILNE: It is very difficult to tell from this, sir.
    15 SIR ROBIN AULD: There are a series of reference numbers,
    16 some of which may be an identification of
    17 the transmitting bank, I don’t know.
    18 MR MILNE: It clearly states Belize Bank, Turks and Caicos,
    19 West Indies, Providenciales in fact. It is specific to
    20 that extent. It says where it is going to. It says
    21 sender Michael Misick, STFEDSEQ. But we have not so far
    22 been able to identify anything further from that.
    23 If it assists you, that was 20th July, can I take
    24 you please to page 162 of that bundle.
    25 SIR ROBIN AULD: Are we to keep this page open?
    PAGE 124

  13. 1 MR MILNE: Please.
    2 MR FITZGERALD: I do not know whether I can assist. We have
    3 in our appendix 5 a reference item 78 to 100,000
    4 transferred from Belize Bank, “(draw down J&T Banks)”.
    5 We have the back-up materials to that. So I wonder
    6 if I can refer my learned friend to item 78 of
    7 appendix 5.
    8 MR MILNE: I see reference to broad amp(?) and — with
    9 respect, the issue that I am exploring here is not
    10 the fact that there may be some explanation for
    11 the source of the money, but rather why it appears to
    12 come from a bank account that we know nothing of, given
    13 we are told that we have been — we have had disclosed
    14 all of the bank accounts.
    15 A. I have disclosed all the bank accounts and there’s no
    16 evidence that it came from any account that you have
    17 the knowledge of.
    18 Q. I have told you what it says, Mr Premier. I am not
    19 going to go over it again.
    20 A. But if it came from a different account, it should have
    21 had the account number that you say you know nothing of.
    22 SIR ROBIN AULD: It is not a question of Mr Milne not
    23 knowing anything about it. You should know something
    24 about it. These documents came provided, not through
    25 any fault of Mr Fitzgerald, yesterday and today and
    PAGE 125

  14. 1 that’s how we find ourselves to be tripping over from
    2 one account to another trying to find what should be
    3 clearly identifiable and orderly prepared bank
    4 statements produced in a timely way, and it has not
    5 happened here.
    6 A. Well I think appendix 5, number 78 seems to be very
    7 clear.
    8 SIR ROBIN AULD: Yes, where are we now?
    9 MR MILNE: Let’s move on with that same account. I can take
    10 you to the pages should you wish. Let me summarise what
    11 also happens on that bank account. Throughout 2006 and
    12 2007 a series of lump sums of money, totalling about
    13 half a million dollars, are transferred into that HSBC
    14 account from Chalmers & Co in the Turks and Caicos
    15 Islands. Were you aware of those payments?
    16 A. What page are you on?
    17 Q. I will start with page 240.1.
    18 A. Yes.
    19 Q. That is £124,985 transferred on 6th July 2006 to your
    20 bank account?
    21 A. Dollars.
    22 Q. Dollars, I beg your pardon. 240.4, a further $100,000
    23 transferred to your bank account on 16th October.
    24 Page 240.6, a further $50,000 on 29th November 2006.
    25 Page 240.6 again, on 30th November, that year, this is
    PAGE 126

  15. 1 the following day from the last transfer, another
    2 $80,000 transferred to that account.
    3 If we move forward nearly a year, 24th October 2007,
    4 this is page 255, $50,000. Page 257, 20th November
    5 2007, another $50,000. Page 285, 7th March 2008,
    6 another $50,000. What we have is a pattern over
    7 a period of time, admittedly, of Chalmers Misick, your
    8 brother, forwarding half a million dollars in lump sums
    9 to your personal account in Beverly Hills. Am I to
    10 understand you are going to say that is all money with
    11 the drawdowns on loans?
    12 A. You have to ask me about them individually.
    13 Q. Where did this money come from?
    14 A. That is a different question. This is a mixture of
    15 monies that are either loans. As a matter of fact in
    16 the appendix 5, which you have, clearly shows where
    17 the money came from.
    18 Q. It tells me things, it doesn’t show where it came from
    19 but it tells me things. I need you to tell me as well
    20 though?
    21 A. It tells you where it comes from.
    22 Q. Why would Chalmers Misick be passing the money to you?
    23 A. Well, appendix 5 tells you specifically where all of
    24 those transactions come from; whether they were loans,
    25 whether they were donations, whether they were loans or
    PAGE 127

  16. 1 whatever. You have it in front of you.
    2 Q. You see your brother —
    3 A. Now, if you don’t believe it, that is a different story.
    4 But you have it in front of you.
    5 Q. Your brother seems to be the money mover for you. He
    6 seems to keep transferring money into your account. Why
    7 would he be doing that?
    8 A. Sir Robin, there are a number of — as has been
    9 submitted in my — as I have submitted, in relation to
    10 all of the monies that I have gotten, whether they were
    11 loans, whether they were income, whether they were
    12 commissions, some of these monies were handled by my
    13 brother. For example, the sale of — I have had a house
    14 and land in North Caicos for many, many years, of which
    15 I have sold part of it. A part of those funds — my
    16 brother was the lawyer and part of those funds went into
    17 his account and he distributed some of those funds on my
    18 instructions, as a lawyer. That is a mixture of where
    19 those funds came from. I have declared all of them.
    20 SIR ROBIN AULD: You mean in this schedule?
    21 A. Yes.
    22 SIR ROBIN AULD: Produced yesterday?
    23 A. Yes. I regret that it came in as late as it has but
    24 obviously I had to do some research and it is now fully
    25 declared.
    PAGE 128

  17. 1 SIR ROBIN AULD: Can you just give us a short thumbnail
    2 sketch of what your brother Chalmers Misick does for
    3 you?
    4 A. He is a lawyer.
    5 SIR ROBIN AULD: Not just as a lawyer, but as a manager of
    6 your property and your affairs, and how is it that he is
    7 paying from a number of different transactions such
    8 large sums of money for you or to you?
    9 A. He is a lawyer, he has handled a number of transactions
    10 for me. In relation to the monies for the HSBC in
    11 Beverly Hills, these were monies that were going to
    12 support my ex-wife and her lifestyle.
    13 SIR ROBIN AULD: I don’t think that really is the point of
    14 my question. This is not so much a question of what use
    15 the money was being put to but in what way was your
    16 brother acting as your banker, if you like, for these
    17 purposes?
    18 A. As I said, there were a number of transactions. For
    19 example, if you would look at the transaction in
    20 relation to — I can take you to number 32, 2005,
    21 December 22nd, where a cheque was deposited into
    22 Belize Bank, proceeds of sale of a property in
    23 North Caicos. He handled the transaction for me and
    24 then he made a payment, like all lawyers do.
    25 There have been times when, whether it is in
    PAGE 129

  18. 1 relation to that, that is how money entrusts for me, in
    2 the client’s account based on some transactions that
    3 I have already declared, and he pays directly.
    4 SIR ROBIN AULD: But did he hold property of one sort or
    5 another in your name or was he simply acting as
    6 a conduit whenever he did a lawyer’s job in allowing
    7 transfer?
    8 A. He acted as a lawyer.
    9 SIR ROBIN AULD: Always? He didn’t hold property in your
    10 name or shares in your name or interests in your name?
    11 A. Property in my name?
    12 SIR ROBIN AULD: Yes.
    13 A. Or property in his? I don’t understand —
    14 SIR ROBIN AULD: I don’t know. I am simply trying to
    15 understand why it was so much went through him, you see.
    16 A. If you look at it, there was a substantial loan that
    17 went through him. So he had the funds of the loan.
    18 When you look at the transaction, there might have been
    19 a number of monies that were sent to him but there were
    20 one or two transactions.
    21 MR MILNE: Might I seek clarification of one are two points,
    22 sir. Since we are looking at your schedule 5, which we
    23 now have before us, let’s look at page 51. It is one of
    24 the last pages of this. It starts at item 41. Let’s go
    25 down the page slightly to item 50. That is a deposit
    PAGE 130

  19. 1 into the HSBC account of $50,375. All you are able to
    2 tell us is: deposit by Chalmers Misick and Co.
    3 Item 52 is $100,000. All you are able to tell us is
    4 deposited by Chalmers Misick and Co. Further down
    5 the page, at 71, $200,000 put into your Belize Bank
    6 account. All you are able to tell us in that case is
    7 Belize Bank deposit, benefit of Chalmers and Co,
    8 position unclear.
    9 Mr Misick, do you not see the problem that
    10 the Commission has? We know who is giving you
    11 the money. We know who is passing you the money. We
    12 want to know why he is doing it and what the source of
    13 these considerable lump sums of money ultimately is.
    14 A. Out of close to 100 transactions, you pick on one or two
    15 and my lawyers, based on the information they have, has
    16 prepared this to the best of their ability. There are
    17 details, certainly in relation to the source of funds.
    18 Q. The details don’t tell us anything. The details don’t
    19 tell us the source of the funds. They just tell us who
    20 handled them. The details only tell us which person
    21 passed the money to you. It doesn’t tell us where
    22 the money came from or why you were entitled to it or
    23 what its purpose was. Are we to take it you have no
    24 explanation for that?

  20. Snapper? Get well soon. Cold front coming and lots of sickness it can bring. Yes many shall come in the names and accounts of others …..yes…..and as long as everything was done with cash everytime then that is good…..but just one check or wire and Sirach has it……

    What a cold morning!…….BUSHMASTER? Did you enjoy the holidays?

  21. Windsor Investment Group
    My Way Productions 2 Limited
    Lover Fund Limited started 4 September 2007

    You got a donation, so you tell us, of $100,000 from
    Caicos Construction Management and Development Limited.
    What was that for?
    A. It was a political donation for me.

    1 Q. I am not a Caribbean politician. I think we will agree
    2 on that. But I am still waiting to hear from
    3 a Caribbean politician, with respect, sir, what it is
    4 about $100,000 from a construction company that has
    5 a political angle to it when it is put into his wife’s
    6 company so she can go and spend it in the USA. That
    7 appears to be what has happened here. Explain it to me
    8 again, please.

    18 A. I have spent since the 1980s hundreds of thousands of my
    19 own money on the PNP party, my party. I, with at least
    20 one or two other ministers, are personally liable to the
    21 tune of $1.5 million for a loan in relation to my party.
    22 So the matter of those funds are sometimes intertwined.
    23 That is just the reality of politics. Now if you don’t
    24 accept my answer, I understand but that’s my answer.

    12 “… our client has pointed out that My Way
    13 [presumably My Way Productions 2 Limited] holds an
    14 interest in the following entities: Z & M Media LLC, Hip
    15 Hop Global Media LLC and TCU LLC.”
    16 It would appear that My Way Productions 2 Limited
    17 has bought 25 per cent of a company called Z & M Media
    18 Limited. Z & M was incorporated in March 2006. It was
    19 the publisher of a magazine known as Hip Hop Weekly and
    20 My Way Productions 2, that is the company you owned 50
    21 per cent of, paid out $833,000 for that 25 per cent
    22 interest.
    23 Am I right in thinking, though, that when you were
    24 asked about companies, you forgot that you owned
    25 a company that had a 25 per cent share in a hip hop
    PAGE 163
    1 magazine for which you paid nearly $1 million?

    16 MR MILNE: The point remains the same. 9th January, for
    17 the first time, your attorneys seem to have been
    18 informed that your company, My Way Productions 2, which
    19 initially we were told you had no share in, then we were
    20 told you had a half share but it was not doing anything.
    21 Now we are told it owns $833,000 worth of a hip hop
    22 magazine. It also bought $10,000 worth of another
    23 company which is — 833,000 for Z & M. Hip Hop Global
    24 was acquired for $10,000 and My Times 2 LLC owned by
    25 yourself and your wife, which owns 25 per cent of class
    PAGE 164
    1 B interests in TCU, although it doesn’t specify what
    2 that was other than it cost $362,500.
    3 So, My Way Productions 2 Limited, described as
    4 having effectively no debts, no encumbrances, not in any
    5 great importance, owns more than $1 million worth of
    6 shares in other companies in the US which you would have
    7 known about, because these appear to be relatively
    8 recent transactions. Why is it that none of this was
    9 declared to the Commission of Inquiry? Why was it that
    10 we had to come and ask what is all this about?
    11 Can you explain?

  22. Windsor Investment Group
    My Way Productions 2 Limited
    Lover Fund Limited started 4 September 2007

    You got a donation, so you tell us, of $100,000 from
    Caicos Construction Management and Development Limited.
    What was that for?
    A. It was a political donation for me.

  23. 1 Q. I am not a Caribbean politician. I think we will agree
    2 on that. But I am still waiting to hear from
    3 a Caribbean politician, with respect, sir, what it is
    4 about $100,000 from a construction company that has
    5 a political angle to it when it is put into his wife’s
    6 company so she can go and spend it in the USA. That
    7 appears to be what has happened here. Explain it to me
    8 again, please.

    18 A. I have spent since the 1980s hundreds of thousands of my
    19 own money on the PNP party, my party. I, with at least
    20 one or two other ministers, are personally liable to the
    21 tune of $1.5 million for a loan in relation to my party.
    22 So the matter of those funds are sometimes intertwined.
    23 That is just the reality of politics. Now if you don’t
    24 accept my answer, I understand but that’s my answer.

    12 “… our client has pointed out that My Way
    13 [presumably My Way Productions 2 Limited] holds an
    14 interest in the following entities: Z & M Media LLC, Hip
    15 Hop Global Media LLC and TCU LLC.”
    16 It would appear that My Way Productions 2 Limited
    17 has bought 25 per cent of a company called Z & M Media
    18 Limited. Z & M was incorporated in March 2006. It was
    19 the publisher of a magazine known as Hip Hop Weekly and
    20 My Way Productions 2, that is the company you owned 50
    21 per cent of, paid out $833,000 for that 25 per cent
    22 interest.
    23 Am I right in thinking, though, that when you were
    24 asked about companies, you forgot that you owned
    25 a company that had a 25 per cent share in a hip hop
    PAGE 163

  24. 25 a company that had a 25 per cent share in a hip hop
    PAGE 163
    1 magazine for which you paid nearly $1 million?

    16 MR MILNE: The point remains the same. 9th January, for
    17 the first time, your attorneys seem to have been
    18 informed that your company, My Way Productions 2, which
    19 initially we were told you had no share in, then we were
    20 told you had a half share but it was not doing anything.
    21 Now we are told it owns $833,000 worth of a hip hop
    22 magazine. It also bought $10,000 worth of another
    23 company which is — 833,000 for Z & M. Hip Hop Global
    24 was acquired for $10,000 and My Times 2 LLC owned by
    25 yourself and your wife, which owns 25 per cent of class
    PAGE 164
    1 B interests in TCU, although it doesn’t specify what
    2 that was other than it cost $362,500.
    3 So, My Way Productions 2 Limited, described as
    4 having effectively no debts, no encumbrances, not in any
    5 great importance, owns more than $1 million worth of
    6 shares in other companies in the US which you would have
    7 known about, because these appear to be relatively
    8 recent transactions. Why is it that none of this was
    9 declared to the Commission of Inquiry? Why was it that
    10 we had to come and ask what is all this about?
    11 Can you explain?

  25. After Olint had its problems in Jamaica in 2006, it was not accepting new “club members/investors”. As a result, some people were able to convince then present club members to accept their funds and channel it into Olint as many wanted to go on board the money train as it was seen then.

    After Olint became one of Jamaica’s biggest ever question signs in mid-2008, many of those who had jumped on board (with full knowledge of the conditions) through previous club members, found themselves making claims that the financial arrangements made were purely between themselves and club members and not Olint. In other words, Olint could not make payments, but the club members were being pressed to return those funds.

    Among some church members who had similar arrangements, a few whom I know have been pressing their respective churches to return their money while the only (in)tangible the churches have received is the blessing of God.

    http://www.jamaicaobserver.com/columns/html/20090114T220000-0500_144854_OBS_JLP_ADMINISTRATION_NEEDS_TO_MAKE_UP_FOR_TIME_LOST_IN_____.asp

    Wignall you and Chupski going to be fetted at the Pegasus again….

  26. Well done investforlife. It has now been confirmed as we have always know, that there is really no money available.

    This is a typically the case in all ponzi schemes, where the collapse is as a result of low inflows and continued out flows.

    Olint was just another ponzi scheme like all the others and now its “investors” have been left holding the proverbial bag.

    What a sad state of affairs, indeed it is.
    As I said yesterday, the release of the funds to David Smith would be a very bad thing for Olint Investors, as the small sum left will be gobbled by his “high powered” lawyers and the rest given to the remainder of those who has made threat against him.

    Olint investors should use the next few months to get a court appointed receiver to move the company into receivership.
    The receiver would then try to recover as much money as he/she can, including getting funds from those who have made “interest” over time from deposits with Olint.

    This in my opinion is the best way for Olint investors, as DS cannot be trusted to pay anyone from the small amount of funds that is apparently still in these accounts.

    DS is our own Madoff !!

  27. You do appreciate that in fact, certainly working on
    19 yesterday’s exchange rates, that your salary exceeds
    20 that of Gordon Brown, who, for all his failings, handles
    21 a somewhat bigger economy than the Turks and Caicos
    22 Islands?

    http://www.tcijournal.com/userfiles/file/TCI_transcript13_01_09.pdf

  28. BUSHMASTER?

  29. Good.

  30. AML

    Do you think they will ask Michael Misick about this company incorporated in Florida with is wife:

    ZANZIRAYE, LLC

    Name & Address

    Title MGRM
    MCCOY-MISICK, LISARAYE
    11271 VENTURA BOULEVARD, SUITE 711
    STUDIO CITY CA 91604 US

    Title MGRM
    MISICK, MICHAEL
    11271 VENTURA BOULEVARD, SUITE 711
    STUDIO CITY CA 91604 US

    http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L06000087618&inq_came_from=OFFFWD&cor_web_names_seq_number=0002&names_name_ind=P&ret_names_cor_number=&ret_cor_web_names_seq_number=&ret_names_name_ind=&ret_names_comp_name=&ret_names_filing_type=&ret_cor_web_princ_seq=&ret_princ_comp_name=MISICK&ret_princ_type=

  31. In keeping with the theme of his testimony, that should be “ex-wife”, though recently as 9/2008, the company was re-instated.

  32. Why is everyone so quiet?

  33. Jay

    Agree with you 100%….DS should have been arrested from last year…The funds he had in other jurisdictions were moved to the accounts of relatives and friends in December 2007 and January 2008…..Paper trails are still there…The appointed receiver should get an investigator to follow the money trail….That trail will lead primary to the mexiCON…He knew DS was conning the jamaicans and provided the vehicle for the fraud of the century

  34. Jay,

    Follow the money. There might be a pot of gold at the end. No one has applied enough pressure to crack the nut or nuts. Remember there is a casino involved. There are probably original Olint(club members) contracts still out there. They have hit the jackpot.

  35. Robin,
    People are contemplating the next news, plus there is really no more news unless investfor life “buss out” something new.

  36. Sirach – Why were members required to open accounts in Belize, if all the money was in TCI?

  37. Test,

    It is all a shell game.

    Dig, dig, dig. The owners don’t like the gold diggers.

  38. Gold miners. sorry.

  39. Transcript of the Second Day of Hearings of the Commission of Inquiry

    http://www.tcijournal.com/index.php?idsub=801&id=8

    Another 6 hours of reading.

  40. September 2007 was the beginning of the end.

    More and more evidence is showing this.

  41. Anybody knows anything about what eaxctly the DOJ in America freeze? Was it just the money at FXCM?

    Was there any freeze on DS/Olint assets in other countries like Panama, Cayman and Belize? These names keep popping up Astra and USIMO what happen to those accounts they freeze as well? If DS and his wife’s accounts freeze in TCI since last July then where would he have got all that money from to keep gambling big nat Casino in TCI and partying?That money come from somewhere.

    Just like how Misick had a easter european credit card and money moving all over into diffrent company names then is the same way DS and his wife did it.

    Money is there somewhere. People know. I think DS have access to funds that he has hidden but cant payout because it would only stir up more problems.

  42. Ok Now that we know there are about $7.7 Million in assets, How much does Olint owe to investors?

  43. AML :
    Any more details ……………LOL…………….

    Sirach :

    Bushmaster , partial to the Ponzi Don !……I thought yuh said him a go run up and down

    Delay is the Ponzi Don’s best friend , when will this saga end ?

    Like Madoff, Ponzi Donzi get to spend time in his dub ” Suite ” ….. Haaa, ahhh ha ha …… preparing the next set of Lyrics
    for those that persist to hear the songs of a Ponzi Don ….

    I hear the album have 9 songs, the last one name ” money Dun ” hold tight ….

  44. 7.7 million left , lawyer bill a 7.8 , inclusive of discounts and reimbursements for laundromat fees …….

  45. watching closely,

    September 2007 was the beginning of the end.

    When it ends up on the UFO-Timeline, it will be official like when the U.S. was declared to be in a recession a year after the fact.

  46. Even NCB documents showed something went wrong. Water was turned off and there was no soap.

  47. Prepare one for across the bow.

  48. On Misick ….you see how he “found” a bag a documents to add just before the trestimony began? Yeah……there are more…..hmmm….seems he wants to call Sirach a bluffer….hhahhahaahahahaahheheheahahahaa…..Sirach always has the 5 ace deck……custom made……Let us see how much line the Marlin wants to run with.

  49. AML

    Check world news …….Bailouts or payouts ?

    Sirach:

    You are too late, the barbarians are already at the gate

    Check is in the mail …….ohhh that a number 7 on the album……

  50. Anyway weh doing the final Mix , dis yah album a gway do the trick …..

    Ttle :

    9 months with a Ponzi Don

    First Single and no 1 on the album :

    1. Platform Trading ( with DJ Martinez , backup vocals , Wayne and Tracy smith )

  51. where do these culprits live in Jamaica WS and TS

  52. How? They ask.

    “Reverend Hewitt rebuked members of the clergy who he said led their flock astray as they sought to reap big financial gains from the unregulated investment schemes, which later crashed.”

    http://go-jamaica.com/news/read_article.php?id=5701

    The best Breakfast Club is yet to come….

  53. BUSHMASTER…..Annuit cœptis

  54. Remember I told you bloggers about the nurse who says, “o.k. now…..Just take a deep breath….”

  55. lata.

  56. Release: 5598-09
    For Release: January 15, 2009

    CFTC Charges James Ossie and CRE Capital Corporation with Operating a $25 Million Foreign Currency Ponzi Scheme

    Georgia Man and Corporation Allegedly Ripped Off 120 Investors

    http://www.cftc.gov/newsroom/enforcementpressreleases/2009/pr5598-09.html

  57. http://www.cftc.gov/newsroom/enforcementpressreleases/2009/5599-09.html

    Release: 5599-09
    For Release: January 15, 2009

    New York Court Enters Order Imposing a Fine and Other Sanctions against Boris Shuster of Fort Dix, New Jersey, in a Foreign Currency (Forex) Scam
    Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) announced that it obtained a $240,000 civil monetary penalty judgment and trading and registration bans against Boris Shuster, of Fort Dix, New Jersey, for operating an illegal foreign currency (forex) boiler room operation and violating the anti-fraud provisions of the Commodity Exchange Act.

    The order, entered by U.S. District Court Judge Leo I. Glasser in the Eastern District of New York, grants the CFTC’s motion for summary judgment against Shuster. The order also notes that although Shuster’s violations merit the award of significant restitution, the court is not ordering additional restitution because Shuster is subject to a $310,000 criminal judgment restitution obligation entered in a parallel criminal proceeding, U.S. v. Shuster, E.D.N.Y. Docket No. 04 Cr. 628.

  58. Changing of the governments are coming(US, TCI, etc).

    Everyone beware!

    P.S. Don’t stir up local government. They have the same amount of power as the federal.

  59. UNDECLARED businesses, mystery money, missing bank statements and political donations – Premier Michael Misick was quizzed on a number of tough topics when he took the stand at the first public Commission of Inquiry hearing.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1055&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

    There is a Jagan supposed to testify into some Belongerships issues and also a Ukranian girl named Donna…

  60. Mr Milne wrapped up the morning’s session by suggesting that Belongerships were often handed out “undeservedly”.

    “Or accelerated for certain people, specifically potential developers who seem to get it relatively quickly,” he said.

    The Premier responded that such claims were probably made by people aggrieved at not being afforded similar status.

    You will see more on this and the role of Jen messam and others….yes.

  61. http://tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1056&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

    MICHAEL Misick is more than $20million in debt and is likely to have to pay nearly $2million in interest every year, the Commission revealed today (Wednesday).

    Over the past four years the Premier has taken out seven bank loans in order to repay debts, buy property and build his extravagant Providenciales mansion Belle View Villa.

    He also borrowed tens of thousands of dollars from Ministers Floyd Hall and Jeffrey Hall, former Minister Lillian Boyce and his brother Chal Misick which he has yet to repay.

    Scrutinised deposits of cash into the Premier’s six declared bank accounts included loans of $6m and $1m from banks in Prague, Czech Republic.

    Mr Misick said he had taken out the $6m sum to buy property in Los Angeles. He admitted he had retained the money despite the acquisition never going ahead.

  62. http://www.jamaica-gleaner.com/gleaner/20090116/lead/lead3.html

    “White called on politicians who might have contributed to acts of crime and violence in the society to repent. She said the repentance would pave the way for healing and forgiveness in the nation.”

    “That’s the gospel we should be telling our people, (rather) than looking for quick interest over 10 per cent like you working obeah in the financial sector,”

    Take the advice and repent BEFORE your name goes on the board….

  63. Don’t you guys see the racket with Missick? None of these so-called loans were really loans. They were just a ruse to launder his money so that they could look clean.
    That is why no one is asking him back for these moneys. Also, the overpayments on his credit cards were another way of passing money through the washing machine.
    This guy is not in debt of $20m. The Commission of Enquiry is not buying his bs@#&*

  64. Good point cally. The man has been so evasive in the answers to the commission of Enquiry, its not funny.

    I can see clearly now why David was close to the premier and it appears that the Premier did teach David a thing or two.

  65. Don’t forget that the bank has lost bank records.

  66. AML:

    Which one , they have 2 , over and under !

    In the land of thieves , the banker is the one without the gun ……

  67. First Caribbean International Bank

  68. 3 Q. Bundle 3. The very last page. What we have there is
    4 a list of the payments made to the Centurion
    5 American Express card. These are purely the payments
    6 made on the statements that we have had disclosed to us.

    25 Q. We then have a gap from February of 2007 through to
    Page 161
    1 March of the following year, 2008. So we don’t know
    2 what was being spent. Let us assume, for the sake of
    3 argument, it would have been broadly the same sort of
    4 scale.

  69. AML,Jay,Cally

    Does anyone know exactly when Belcher’s testimony before the Commission will be?

  70. I have no idea, as right now the Premier is making it real hard for the commission, with his constant skirting of the issues.

    You can tell he has great distaste for the commission.

  71. Does it relate directly with the Premier or the ministers?

  72. The order of appearances will not be on schedule due to Missick’s evasive answering.

    You can tell when someone is lying when he has to try to remember the last answer he gave to a similar question.

    This guy must be arrested for fraud and money laundering at the end of this. The arrogant bastard is behaving as though Britain is a dependency of TCI

  73. http://www.cftc.gov/newsroom/generalpressreleases/2009/pr5601-09.html
    Release: 5601-09
    For Release: January 16, 2009

    CFTC and FinCEN Agree to Share Information

    Trouble ahead for money launderers.

    Who will be their first example?

  74. cheated mti student, Jamaica

    Date of Post: 2009-01-03

    Review: I purchased the Ultimate Traders Package course from MTI back in ’07. Having been convinced by their specialists about how good the course was and how much money I would make, I ended up paying almost 3k for the education. I met the entire team, and followed the rules; and was disciplined in my approach to the course. However, after almost 2 years, first demo trading and then trading for the past year on a live account I can tell you that I have lost just shy of $50,000 from my personal trading not including the 3k for the course. Really, I thought I paid money to make money, not to loose money.

    I have been to many live onsite classes and kept in touch with many of my classmates. We formed a tight and close knit bond after meeting and studying and practicing our trading together. It is unfortunate to report that not one of us has seen or experienced any lifestyle change for the better. Frankly, the MTI course is nothing more than a piped dream. No one really makes any money trading with the MTI course. If you have 3k to give away go ahead and do it! But when you get involved with these guys at MTI, like many of us here in Jamaica you will end up being the looser. They are the ones making money out of phony education, which only makes them rich! All they do is suck money out of people’s pockets and move on! I feel cheated out of my 3k, because this company and their promises are nothing more than that, a sham!

    http://www.forexpeacearmy.com/public/review/www.markettraders.com

  75. AML: How did he feel cheated, no one forced him to take the course. If you go to University and study Graphic Design and come our in six months and cant design or use the programs who is to blame? you have to continually try to become better, this guy was looking for quick money, he needs to study harder!

    peace.

  76. Jan. 17, 2009 – Transcript of the Fourth Day of Hearings of the Commission of Inquiry

    http://www.tcijournal.com/index.php?idsub=815&id=8

  77. Everyone extremely quiet. Has everyone been visited yet?

  78. The personal accounts of David Smith in the TCI has under 200 thousands.

    There are 3 millions frozen in the USA and those are all the funds that are known to the investigators.

  79. between 2006 – 2008 over 200 millions were sent to Jamaica to accounts in the name of companies own or control by Joey Issa including Olint Corp which on paper is own by Cool Corporations

  80. If you want more facts call David himself

  81. David said that he is sorry for what he has done and how many people will be hurt by this

  82. Did they siphon all the money out of JIJ?

  83. yes it was wire to MZ holdings a company own by issa

  84. BUSHMASTER was also referring to “proposed documents showing a contracted service between USIMO and TCI FX Co”. Do they have that information.

  85. Usimo and Mz holdings are the same entetie. Mz became usimo

  86. check with the Jamaica companies registry

  87. Boy all you jamaican suckers really have your thumbs up your a$$! Everyone suffering through delay delay delay delay. I don’t even remember why DS is in court for the first place.
    I’d rather be a Madoff investor that got swindled b/c at least I know the government has already:

    1. Sent out claims forms
    2. Is prepared to pay out some investors back in MARCH a mere 3 months after the fact!!!
    And Olint’s flock sitting and moving through year 2.

    Well done people.

    All the court system is successful in doing is dangling the carrot in front of the horse.

  88. John Harris if what you say is so why would Smith not say that joey Issa has people’s money? Joey Issa is a simple shakedown…..as simple as all the rest…

  89. @Sirach, John Harris

    Does anyone have any idea on the following:

    1. How much money was pumped into OLINT?
    2. How much money(principal only) less interest already paid is owed to investors?

    N.B.
    I am going on the assumption that I believe OLINT to be a PONZI. Therefore a) Those who have recovered their principal are owed nothing.
    b) If OLINT is wound up and place in the hand of a receiver/liquidator, those who have recovered more than their principal, will actually owed the fund the amount in excess of the principal received.

  90. AML, It appears that the Herald lifted that story from wireless expression.

  91. Where is the money ?

    It is not clear what has happened to over US$60 million of Olint’s investors’ funds that was transferred to JIJ Investments Inc in March 2007. The funds were transferred in two tranches.

    Based on correspondence seen by the Sunday Herald, US$40,214,480.08 was moved from TCIFX Traders on March 28, 2007.

    Read the entire story here

    http://www.sunheraldja.com/article/show/2134

  92. AML, are you the Martinez’s ex-employee the Sunday Herald spoke to for the latter story?

  93. @jay

    You are right, the “big boys club” article is straight of wireless expression.

    @AMl

    We really need to go back and work on that timeline….

  94. Is this David Smith personal transport.

    http://flightaware.com/photos/view/photo/230759-7cc2831d4761775a1185273d46e26925563f0f3b;size=full;tail=N815MA;o=0

    Take a look at the tail number, that is the same number listed as his transport under wireless expression.

  95. Flight History to September 2008 on N815MA
    Last recorded flight date was Jan 4, 2009

    http://flightaware.com/live/flight/N815MA/history

  96. Sean said it was N55 VR. I think puppetmaster was starting to stir up stuff.

  97. 14 Q. Did in fact the government own either of the two jets,
    15 N165G and N25SV?
    16 A. No, the government owns no jets.
    17 Q. I am sorry, the second one should be N425SV.
    18 The government didn’t own either of those?
    19 A. No.

  98. AML N55 VR is not showing any flights going to TCI over the last four months. NM815MA does however shows flight originating and ending at Provo Intl Airport ( MBPV).

  99. 20 Q. As to the first mention, that is to say jet number 165G,
    21 was that purchased by the government or by
    22 Indigo Transportation?
    23 A. It was purchased by Indigo Transportation.
    24 Q. How did the government have anything to do with it?
    25 A. It was — the government had a lease on the jet. Pretty
    PAGE 20
    1 much like a Nabja(?) type arrangement.
    2 Q. Did that lease cost substantial sums of money or monthly
    3 payments, is that right?
    4 A. Yes, it did.
    5 SIR ROBIN AULD: What are we talking about? How much?
    6 A. I can’t remember exactly. It was a situation where you
    7 pay — I don’t know if you are familiar with the Nabja
    8 concept.
    9 SIR ROBIN AULD: Yes, pay according to usage, large part.
    10 A. Not according to usage, you pay according to the amount
    11 of hours that you can use for a year. So on average it
    12 probably costs over 100,000.
    13 SIR ROBIN AULD: Over 100,000 a what?
    14 A. A month.

  100. Olint crashed more than 8 months ago.

  101. Recusals by 2 prosecutors and 2 judges add mystery to Ponzi scheme case ——————– Two prosecutors, two judges step out of proceedings By Vanessa BlumSouth Florida Sun-Sentinel January 17 2009 The biggest financial fraud case in Broward County history is proving too hot to handle for several senior federal law enforcement officials and judges, who have removed themselves from having anything to do with it. The complete article can be viewed at:http://www.sun-sentinel.com/news/local/broward/sfl-flbrecusals0117sbjan17,0,1629522.story

  102. Yes John Harris…………

    In 2006 we were recieving checks from OLINT with Joey Issa signature on it .
    The QUESTION I WANT TO ASK YOU IS WHERE WERE THESE FUNDS WIRED FROM TO ISSAS ACCOUNT?

  103. heard when they froze issa accounts recently 100m USD was found in an account not sure if it was in virgin isle or what, mayb someone can chk this out

  104. USIMO is British Virgin Island registered

  105. USIMO is also registered in Jamaica with a qualifier which says overseas.

  106. Sunday Herald is having an overload problem.

    http://www.sunheraldja.com/article/show/2133

    Big boys club

    2009-01-17 Written by: No Author

    The Olint Investors Club reads like a who’s who list of top ranking Jamaican politicians, lawyers, accountants, businessmen, with accounts totalling over US$100 million.

    Based on Sunday Herald checks, the list, while not being comprehensive, is a clear indication of the calibre of investors who were suckered into the scheme.

    The accounts seen by the Sunday Herald covered the period 2006/07, with sums over US$200,000. A member of the Cabinet heads the list of members of the political directorate among the account holders. His name appeared twice with accounts close to US$1 million. A former director of tourism is also listed among the investors.

    One major restaurant chain was also listed among the investors, as well as several other well-known companies. One popular merchant bank appeared several times, suggesting that clients used their accounts at that institution to invest in Olint.

    A popular investment banker, several investment houses and lawyers from one of Jamaica’s largest firms, were also listed. Members of a longstanding family of traditional merchants were also on the list.

    Suggestions that other unlicensed financial schemes invested with Olint were also confirmed. Two such schemes operated by motivational speakers had accounts with Olint. Over 20 accounts totalling US$1.7 million were listed under the name of one of the speakers, while another had one account with under US$600,000.

    Information on the listing stating that payment of US$1.8 million was made to Cash Plus between January 1 and August 30, 2007 would indicate that the collapsed investment scheme also did business with Olint.

    Freeze still on
    Meanwhile, the Olint investors will have to wait longer before learning if there is enough money in Olint’s accounts in the Turks & Caicos Islands (TCI) to pay them. The freeze on David Smith and Olint’s assets in the TCI is to remain in effect for at least another two months. This is according to information coming out of last week’s proceedings at the TCI Supreme Court. The case will not come up for mention again until sometime after March 11, 2009.

    Olint’s direct and indirect investors were hoping that the freeze would have been lifted last week, but that was not to be. They now face at least another two months of unresolved questions, including how much money, if any, is left in the investment club’s coffers.

    It was reported that David Smith was once again consulting with his high-powered legal team on how to proceed.

  107. ….”The accounts seen by the Sunday Herald covered the period 2006/07, with sums over US$200,000. A member of the Cabinet heads the list of members of the political directorate among the account holders. His name appeared twice with accounts close to US$1 million.”…….

    Looking at the “wireless expression” site, I can only see one instance of the cabinet member, for $399,980.00. I’m I missing something?

  108. Press has other sources.

  109. As I have said months ago, everyone holds a small piece of the big puzzle/story.

  110. We are told that anyone who doesn’t step up to da plate won’t get a penny!!!!!!!!!!!!!!!!!!!

  111. AML:

    I was just being facetious. Maybe you should talk to Puppetmaster about the extent of the disclosure to date!

    On another note, it look like DS was Joey Issa’s puppet, only the face of Olint and not the power base. Once the parternship dissolved and funds removed, the house of cards came tumbling down!

  112. I only know DS/Martinez story. I only heard of Issa only at the beginning of this month.

  113. Something happened in September 2007. Documents are missing after this in TCI, Olint’s money flow in the NCB accounts stopped.

  114. Joey Issa !

    Is not news , DS had used him as his main excuse .

    Remember !
    The so called member !
    Who withdrawal instigate, the federal government to investigate , Investigate funds being moved around, questionable deposits were abound ..
    Deposits to banks on a list , a list the Panamanian government insist , were unregulated and on their laundry list. ..

    Laundromat turn Ponzi ?

    .

  115. Is DS talking about the funds transferred to Issa , when he says he has money and not the money being held ?

  116. Remember a Merchant Bank in Kingston made redundant 4 senior Managers……?
    A guess now we know why.

  117. alpha 1, on January 18th, 2009 at 12:27 pm Said:
    We are told that anyone who doesn’t step up to da plate won’t get a penny!!!!!!!!!!!!!!!!!!!

    YES alpha 1 we have heard you!!!!!!!
    If OLINT is a PONZIE Scheme the money is DONE so why waste time and and fill out a hundred forms and run to the front of the line to get nothing
    If DS only have $6.0M out the $1.0B. That is 6 cents out of every dollar

    Ha ha Ha where is da plate

    Alpha 1 tell da people with da plate to donate the da small change they have frozen for OLINT to charity Ha ha ha

    You have complaint for almost $3.2M in hand you will need another 4.2M of complaints before you can handcuff David Smith like a common criminal and parade him through the streets of PROVO forcing him to tell you where the rest of the money is.

    What do you want that info for TO HELP US ?
    OOOOH NOOOO

    Alpha1 ANGELS ARE ENCAMPED AROUND DAVID SMITH and that is not going to happen as part of your plan.

    If he does not have our money he will be dealt with but not as a part of your plan!!!!!!!!

    David Smith in jail cannot help us the investors BUT I know it will help you!!!!

  118. l&l…the other bus is waiting for you…you and redp make a perfect couple.
    i pray for your enlightenment. its sad to see people wallow in thier own ignorance…in a sense acknowledge it, but prefer that state because they suppose it brings to them a greater level of comfort than what they think is the alternative.
    reminds me of history class…we have seen this type of thinking before..A long time ago, but our minds are not far removed from that state of thinking…even in spite of b.sc.’s and mba’s phd’s and all else above and in between.
    weez’ fed from massa…

  119. you see it in plain black and white..ds has the money will pay, or ds has no money, investors shafted, jail time. but i warn you. crafty theives will take people’s money and piss in their skullsafter they starve to death. why give a thief enough time ot cover his tracks, and stash money away for himself?
    people with real info need to come forward and expose ds and the lies that he has told, and continues to tell, evidently with great pacifying effect.

  120. Jon, in all fairness to Live&Letlive, if you join Olint in or before 2006 and was taking your monthly interest like Live&Letlive I’m sure you would be seeing those ANGELS too…..I would. Live&Letlive has probably collected 3-times what he invested.

    I think the only problem that Live&Letlive has is the money well is now dry and people like Jon/Alpha1 is making it all most impossible for the water to return….no new money coming in again.

  121. CFTC Charges James Ossie and CRE Capital Corporation with Operating a $25 Million Foreign Currency Ponzi Scheme

    http://www.cftc.gov/newsroom/enforcementpressreleases/2009/pr5598-09.html

    They just keep popping up !!

  122. No Jon
    I am not a slave. Alpha1 has asked us to call him we have called, have You? Call alpha 1 and read my blog again.

    No mikeD
    I have put in more than 10times what i have taken out. I have loaned (/given if DS is gone with the money lol)to Olint investors who were taken by surprisre almost as much as I have taken out.

    Jon is an investor like you and I we are in the SAME position. Alpha1 is not don’t be fooled

  123. Jon

    Sorry for my bad manners. Thanks for the prayers enlightenment. like money can never be too much.

    money is money JON if DS is gone with it we can work back more. This is not the end of us!!!! End of DS maybe. We call this a set back LOL

  124. Another Ponzi collapsed

    Valhalla reported average annual returns of 32 percent from 2000 through 2006, according to a report by CogentHedge.com, a Web site that tracks the performance of hedge funds. The report, dated March 2007, said Valhalla had 55 consecutive profitable months from October 2001 to April 2006. The fund’s longest losing streak was two months in 2000.

    http://www.bloomberg.com/apps/news?pid=20601087&sid=a.toVakkijf4&refer=home

  125. Toll free corruption hotline launched

    http://www.radiojamaica.com/content/view/14971/26/

  126. AML

    Stuupees … Kiss teeth.

  127. Think live and let is mixing me up with someone, I just speak to the people who know, not the specuators!

  128. Alpha 1

    who told you the gag order was lifted????

  129. 144:49:30

    No facelifts Dr Guyan Arscot

  130. More good corporate citizens like Joey Issa needed

    Some years ago I wrote a piece criticising those who were creating too much flak over a nude wedding which had taken place in one of the Issas’ all-inclusive hotels. I eventually received an invitation from them (as did over 100 people) to wine and dine at the top of the Pegasus.

    I actually thought that I had been invited because I was, well, “smaddy”. It was while I was at the function that John Issa spoke and graciously and honestly informed us that we were invited there because we had supported him in the nude wedding noises. I remember that I turned to Chupski and said, “You see, my sweets, we were invited for food and drink because I was a good boy.” Reality check!

    Sometime later Joey Issa of the famous Issa clan left the family business and decided to launch the Cool Card line. He had two children with his lovely wife and, under the banner of the Cool Group of Companies, later bought out Shell West Indies, re-naming the gas stations Cool Oasis. In the last year and a half the Group has assisted nearly a dozen schools to outfit their computer labs with donations of air conditioners and PCs to improve Jamaica’s educational standards.

    Recently, Joey was made the subject of court action where an attempt was made to freeze his bank accounts (since lifted) as a prelude to claims made by an ex-friend over disagreements about money which was lodged in Olint.

    After Olint had its problems in Jamaica in 2006, it was not accepting new “club members/investors”. As a result, some people were able to convince then present club members to accept their funds and channel it into Olint as many wanted to go on board the money train as it was seen then.

    After Olint became one of Jamaica’s biggest ever question signs in mid-2008, many of those who had jumped on board (with full knowledge of the conditions) through previous club members, found themselves making claims that the financial arrangements made were purely between themselves and club members and not Olint. In other words, Olint could not make payments, but the club members were being pressed to return those funds.

    Among some church members who had similar arrangements, a few whom I know have been pressing their respective churches to return their money while the only (in)tangible the churches have received is the blessing of God.

    With 35 per cent of the market share in petrol and cooking gas sales, Joey Issa is a significant employer in Jamaica. He has a more pressing mission to juggle business activity while holding down unemployment levels in 2009 rather than wasting his energies facing those who would do better tilting at windmills or accepting the consequences of their folly.

    http://www.jamaicaobserver.com/columns/html/20090114t220000-0500_144854_obs_jlp_administration_needs_to_make_up_for_time_lost_in_____.asp

    144:44:10

    Lata

  131. The Finance Minister, who took to the stand for the first time on Monday, was accompanied to his house by Commission Secretary Laurance O’Dea and his attorney Oliver Smith.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1070&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  132. The ruling Party had made a request via attorney Norman Saunders Jnr that papers revealing political donations be exempt from the public hearing.

    Mr Saunders said there were a number of people in the community who had donated to the PNP on the premise that the details were kept confidential.

    He described such gifts as “highly sensitive” saying that releasing them into the public domain would “send a shivering effect” down donors’ spines.

    “The inference will immediately be that it’s a bribe,” he said.

    http://www.tcweeklynews.com/default.asp?sourceid=&smenu=1&twindow=&mad=&sdetail=1070&wpage=1&skeyword=&sidate=&ccat=&ccatm=&restate=&restatus=&reoption=&retype=&repmin=&repmax=&rebed=&rebath=&subname=&pform=&sc=2404&hn=tcweeklynews&he=.com

  133. Jan. 20, 2009 – Transcript of Day 5 of the Hearings of the Commission of Inquiry

    http://www.tcijournal.com/index.php?idsub=832&id=8

    or

    http://www.tci-inquiry.org/hearing_transcripts01.html

  134. It was announced by the police press officer!

  135. Its official, Barack H. Obama is the 44th president of the United States of America.
    The new leader of the free world. he will be invested with the task or restoring America’s place at the forefront of the spread of the democratic ideal, freedom, justice and equality for all. This to be accomplished through solid leadership, grounded in a restored moral authority, and decisive action. Say good bye to backhanded rhetoric about with us or against us. Say happy riddance, an end to the unconscionable detention without charge, or ability to challenge the premise of such detention. Say good bye to torture, secret prisons and indefinite detention. Say goodbye to unconstitutional Orwellian govt wiretaps.
    bye-bye gwb. good riddance!!
    this has nothing to with ds i know. sorry for the political rant, but hey….i happen to have an opinion. i welcome yours if you disagree.

  136. I Trade FX NFA response has been posted of the original from google.

    http://www.wirelessexpressions.com/olint

  137. Mr Stewart commented, “We are truly delighted that the Turks and Caicos Islands are now starting to receive the recognition it deserves as one of the best destinations in the world. The country’s positive attitude towards investment and proactive environmental policies are much like ours which makes for a perfect partnership. Our Italian Village expansion

    http://www.tcinetnews.com/news-951–2-2—.html

  138. To all traders:

    Today was a very good day to trade the GBPJPY.
    Over 600 pips move.Some people mor than doubled their money today.
    Is 10% a month possible?You tell me.If you can double up on one trade,what do you think.

    MRS…

  139. i bought some ncb shares for 14.5 at the end of december…trading now for 17.10/17.20
    call it a month, bout 15%
    does that mean that i will earn >12 x 15% for the year?

    applying your logic mrs. i should.
    if you believe that, i have a bridge over portmore a waan sell you. mek wi chat bout it.
    incredibly simplisitic line of reasoning. can’t belive that people are still resorting to it. WOW!

    i am going to set up an fx trading frim in ja. i want memebers to sign up. small man, open accounts for as little as $US 1,000

    3% a month. no draw down for the first 6 months. word of mouth. i am not the 3rd best trader in the world. i barely squeezed into the top 10.
    i gamble and whore, but i am a christian with upstanding character. i can get 10 brand name preachers to attest to that. i am a distant relative of a counsellor in hanover, so i have a strong political connection.

    any takers?
    mrs.?

  140. Jon Jon Jon,

    Come on brother, you do not have to be so hard on Mrs.

  141. mrs:

    To make it relevant you also need to post each time you take a beating and lose big… not just post when you win big.

  142. Jon
    Your utterances only demonstrate that you have no clue about the potential of the currency market. I strongly urge you to shut up.

    mrs
    I was alseep so I never caught that move. But when I woke up, I caught a 70 pips move on the GBPUSD, yielding approx 10%. With this trade though, I have now more than doubled my account for this month.
    My strategy is to trade steadily, no rush, just patiently wait for any one of the numerous opportunities that comes up several times every day. That is how I have been building my account positively every day, and can sustain this for every subsequent month.

    So Jon, hug that up and stop show up your ignorance..

  143. ok jay…maybe harsh. let me try this approach.
    a few tasks if you will mrs…and others of like mind

    1. name me one reputable financial out fit which has offered returns anywhere near that ball park in a simialr time period….do not ignor the word ‘reputable’

    2. do some research on the number of instances in which ‘guru’s discovering ‘gold’ in the investment world and offering beyond normal rates of return, then ultimately turning out to be ponzi’s

    3. do not limit your search on geographic grounds, go to the moon if you wish.

    when you have done that, you need not report to me…im not so presumptious to require it.
    but do it for yourself.

  144. Jon,

    You are right to call out mrs on her simplistic and downright deceptive reasoning. People like her continue to mislead those who are naive.

    Why doesn’t she show what net percentage gains she made for all of 2008, or even the last 6 months?

    One month is not good enough and she knows it. The fact is no reputable fx trading house pays out 120% per year anywhere

  145. http://www.nfa.futures.org/news/newsRel.asp?ArticleID=2214

    In many cases, affinity fraud is conducted as a classic Ponzi scheme. The fraudster pays out high dividends to early investors using funds received from customers who sign up later in the process. Flush with success, these early investors then promote the investment offer to their friends and family, allowing the con artist to continue his scheme right up until the moment he skips town.

  146. Sounds familiar?

    “The agency said Nadel’s funds appeared to have assets totaling less than $1 million — while he claimed in sales materials for three of the funds that they had about $342 million in assets as of Nov. 30. The materials also boasted of monthly returns of 11 to 12 percent for several of the funds last year, when they actually had negative results.

    An investor in one fund received an account statement for November indicating that her investment was worth almost $420,000. In reality, the entire fund had less than $100,000, according to the SEC.”

    SEC charges missing money manager Nadel with fraud
    http://news.yahoo.com/s/ap/20090121/ap_on_bi_ge/missing_money_manager

  147. FXTrader, Said: “Jon
    Your utterances only demonstrate that you have no clue about the potential of the currency market. I strongly urge you to shut up.”

    Dude you still actually have people trying to sell this type of nonsense. I suppose PT Barnum will always be right… there is a sucker born every minute… There will always be fertile ground growing people who will believe this nonsense.

    You can make sporadic high gains in any kind of investing or speculating. This is well known and is a given. Sustaining such out performance over an extended period is statistically so remote as to be practically impossible. People like you that like to claim or allude to extended high monthly gains curiously always post only claims of trade gains and never trade losses.

    These inflated claims are like gold rush claims… The cry of gold is in dem thar hills is great for the guy selling picks and shovels… guys selling training courses and software or money management for a fee etc are really the ones that gain from such claims.

  148. nocotec

    I nah go debate with you.
    However, just this evening, I placed a trade, and quickly see that it nah go my way, so I closed it and tek a 5% loss. But mi just place the trade the other way round and mek 7%, increasing my account before the loss.

    You see, what I realised after a long time trading, and making losses too, is don’t be fraid of the market, not be fraid of taking a loss. Since that time, my account has been steadily increasing. 3% to 5% loss at times, but invariably achieving 5% to 15% on a single trade.

    In fact, it was just yesterday that after analysing where the market is going, I placed a trade and the market took me for a ride. Man mi see unrealised loss of 16%. In the past, I would a ketch mi fraid and close it long time, but not anymore. Mi get 5% gain from dat trade, but it could have been more if my timing was better.

    so you too can hug that up; mi gaan

  149. you bunch of hulligans are a bunch of idiots to still believe that one can make 120% per year in any investment. We Jamaicans reaaly confirmed that we are the smarters and the most stupid nation on earth
    How could we fall for any shit like this

  150. Where’s liveandletlive dived, Do you all think that the , USD, JPY, EUR, GBP movement in the last few months is the trading forecast of a real trading company – get real!

  151. Sorry liveandletlive, so I’m told today, I mean’t DS, (true or not) pay more for a better IT advisor, I use a free one, http://www.anonamous.com.

  152. FXTRATDER
    u ignore one very important aspect of my point of view. that of scale. sure u may be doing this on your small scale, no rush, no cross incentives…if you say that you net positive on your account on a sustained basis, i believe you.
    what i know to be true also, is that every large scale operation from time immemorial that offers rates that seem to the market to be too good to be true, usually turns out to be just that.

    try your trading strategy when managing $US300 million of other peoples funds. see how successful you will be.
    itell you what fx, u seem to be somewhat sophisticated.

    there is at anyone time about 1,500, billion USD in circulation, i.e currency +…aah read anout it…M1 money supply
    http://www.federalreserve.gov/releases/H6/Current/

    now , start with 1 million USD
    plug into a financial calculator, excel or anything at your disposal the following,

    start with $1 mil, compound it at 10% a month

    do a goal seek or use solver
    then tell me how many periods of compounding will it take for your scheme to have all the **** money in circulation.
    when you do that and get somewhere close to 12 and a half years, then answer the question of how the hell such a stupid suggetsion could ever be true
    that one whoreing tiefing lying so called trader could ‘earn’ 10% rate of return monthly in perpetuity.

    it is so astronomically stupid that i am depressed having this discussion with otherwise sensible people at this stage.

    dam….i done…drink the ******* kool aid if you want.

  153. Easy Jon (look for Jay soon)….you are wasting your time arguing with FXTrader. I have requested that he provide the monthly returns for the period of July ’07 to December ’07 and he is yet to show those numbers. Yet he is providing these selective samples of numbers for a few days or a few trades. When you push him to release any numbers for a 6+ months period he gets vex and high tail out of here. I guess he has to justify his investment in MTI courses/charting software and the works.

    BTW, I guess MTI is running out of Caribbean students and have being doing some heavy US TV advertising of late

  154. That should have been ’08, not ’07.

  155. It seems that FXTRADER is da third one with a calculator here. Mrs. wonna buy a bridge?

  156. Jon,
    Do you or have you ever traded?
    Look at the GBPJPY.
    Let me educate you a little.
    Today I went in SHORT which means I sold the pair at 11:00:07 A.M AND AT 11:04:08 A.M. TODAY,WHICH IS 4MINUTES 1 SECOND LATER, I BOUGHT THE PAIR AND MADE 68 PIPS.Do you know what a PIP is?
    Now, on a standard 100,000K account, 1 lot is only $1000 of your money.With the platform I use,1 PIP is worth $11.46 if trading 1 lot.
    Therefore,68 pips on 1 lot($1000 of your money) made $779.28.
    Are you smart enough to calculate that?How much?
    Well,well,well, I beleive that is 77.928% in 4 minutes.
    I only regret I did not see this earlier today as I was i a meeting.But there was over 600 pip movement in less than half a day, which means 1 lot could have made over $ 6000.1 LOT WHICH IS ONLY $1000.
    I focus mainly on the GBPJPY.But if you are a trader that keeps track of 3-5 currency pairs,which I used to do,you will find similar oportunities several times a month.You only have to trade a few times a month to make those returns.
    Now we are talking %-ages.So the amount $300 MILLION only frighten some but can be traded accordingly.
    Last quarter I made 69.2%. IS 10 % A MONTH POSSIBLE.
    The quarter before I made 87.63 %.
    I may have my issues with the MTI course and the people behind it but when doing the course,you are warned from the start that only 5%-10% of the people who take the course will ever trade successfully and there are different levels of success.
    Most people think that once you do the course its your ticket to get rich right away and forget that as in any business or proffession,it is DISCIPLINE that determines success and not necessarily book learning.

    INVESTOR,

    Why are you posting people account online?I don’t think this is fair on those people and they do deserve some privacy.Please,I don’t want to know who have what and who get what.I am more concerned about my money with OLINT and what is happening with OLINT.Spare people there privacy and refrain from posting there accounts.

    MRS….

  157. Hello Ponzi Watchers

    I am trading for myself and not for people.
    Right now mi a wait for another trading opportunity.
    So unoo can stay deh a laugh at me, no problem.
    Mi a steadily mek money.

    By the way, Jon
    Somebody here introduced Bill Lipschutz who manages a US$200million Fund
    http://atrader.com/articles1.html

    All I can say is this. If you have so much money like him (or others), compund at a much more moderate rate so you nuh bruk di market or the market start to target yuh.
    Mi av far less so mi can compound much faster and when it gets bigger, mi wi slow down to a 5% per annum crawl if necessary.

  158. Mrs.
    i am not impressed by your simplictic rerasoning.
    in spite of your professed knowledge, it is your own ignorance that is on display.

    you seem confident, why not try it with 300 mil, of other peoples money. then talk to me.

    i am not impressed with your comfort level with the jargon.
    i am actually depressed that at this stage people believe that it is possible to earn 10% a month on a large fund, on consistent basis. all the evidence(statistical + historical) points to its impossibility and people sitll believe.
    after all, people did believe in jim jones, david koresh et al. some people just cant be saved from themsleves.
    drink up mrs. i hope a few more DS’s an CH’s come along so that you and likeminded people can diversify and secure your financial future.
    good luck.
    i’m truly done with this issue.

  159. JON

    You are either very ignorant to FOREX,OR INCREDIBLY STUPID OR ON SOMEONES PAYROLL.
    I am sorry I wasted my time chatting to some eeeeediaats here.
    Goodbye and enjoy living in bliss(ignorance)

    MRS…

  160. fx trader, did you read the article your post linked to?
    i thought not. this ‘master trader, cornell, solomon, etc, impressive resume
    his track record…..

    Over the past 15 years, Hathersage has racked up an 18.8 percent average annual return. Only once in that period did monthly losses ever exceed 5 percent.
    …..
    18.8% per annum…trader, do you know what annum means? Mrs?

    now the very example that you put forward, pointing us to someone by all standards is enormously successful (still not outgaining berkshire btw), and all you can show me is 18% a year?

    whgat about the 10% a month the cult followers would have us believe?

    knob-end

  161. mrs. i pitty you.

  162. jon
    dont worry youself my friend,i going deal with mrs case for you,since she/he feel them smarter than the rest…
    first of all mrs in june of 2008 the nfa passed a law making all retail forex brokers put the clause in their contract stating that if they are trading against you,they must make it clear in their contract..do you know what this means mrs? this means that for every trade that olint “put thru” on their “oanda” account oanda was betting against them,meaning they wanted them to lose,so do you really think that mr.smith was able to use $700 milion to outsmart a broker..lol i highly doubt it DS would have put the broker out of buisness..if he was really trading how much hundred miilion he could of easily gone to a prime broker or a big bank for that matter where he could make tonnes of $$$ (if he could trade that is) from the daily intrest alone.So keep it real my friend dont come around here with you 50 pips and talk like say you intelligent or youre a big trader…you jus a come…get some years knowledge and experience behind you then become transparent and make some real $$$$…..Also mrs any 1 can go on the oandasite and create a “olint” account and add $$$ until it reaches $700 million…check it out its pretty easy…so dont be blind to the obvious the returns he was giving out for the so called huge sums of $$$ he was trading is absolute non sence, he would have so much money it wouldnt be funny….get a grip on reality mrs and gwan simmer with you 68 pips youre a rookie …….boom bam

  163. “The way to make government responsible is to hold it accountable,” Obama said as he unveiled ethics rules that he portrayed as the fulfillment of a major campaign promise. He said the action was necessary “to help restore that faith in government without which we cannot deliver the changes we were sent here to make”.

    http://www.jamaicaobserver.com/news/html/20090121T210000-0500_145129_OBS_OBAMA_TACKLES_RECESSION__WAR_AND_ETHICS_ON_DAY_ONE.asp

  164. 94:30:15

  165. As a Jamaican, I join in the celebration of that achievement but cannot help but compare the present situation in America and in Jamaica, especially the approach of President Obama and our own Prime Minister Bruce Golding.

    The stark difference is the way government is conducted in both countries. Jamaica, having adopted the Westminster system, seems to make it a duty to keep everything a secret from the people in Jamaica. The United States is paramount for open government; something that Mr Golding himself seemed to embrace during his short sojourn in the National Democratic Movement.

    Just compare the difference and the approach of both Mr Obama and Mr Golding to the people of America and Jamaica respectively. The most powerful man in the world is at pains to explain and seek the support of the people of America, despite the fact that he enjoys wide support and popularity.

    http://www.jamaicaobserver.com/letters/html/20090121T190000-0500_145108_OBS_COMPARING_US_ADMINISTRATION_AND_JAMAICA_S__.asp

  166. I am reading Mrs and FxTrader and laughing to myself. It appears that we have not learned anything from Olint, WW, Capital Blue. Lew Fam, UWIN, FXmillionaire, May Daisy
    These were all “super traders” who were handling mulitmillion dollar accounts and lost it all or most of it.

    I find in incredible that people still believe that one can earn 10% per month on a consistent basis over a sustained period of time.

    This is the type of reasoning (or lack thereof) that cause so many Jamaicans to be duped by these so called forex genius, resulting in billions of dollars in losses.

    Mrs /Fx Trader get real, you may get lucky and make a 10 or even 20% gain on a single trade but what you need to realize is that most of these brokers trade against you. which will result in you losing money over the long run.

    FxTrading is NOT a viable way of making money over the long run, which is why all the fxtrading clubs all became ponzi operations after losing their shirts during trading.

    If you check out the managed funds from FXCM, Rove, Spice etc, they all have sustained heavy losses and eventually closed out some of the FX Managed programs that they used to offer to the public,

    Guys get real, you wont make it big trading forex, and that is what everyone else here is trying to tell you.

  167. This is FXCM Performance, I guess FX /Mrs are better than these guys.

    http://www.fxcm.com/managed-accounts/managed-accounts-programs.jsp

  168. Global Forex Managed Funds Performance

    http://www.globalforex.com/managed/index2.htm

  169. Kern Spencer case is pushed back to June.

    This just illustrates than any court case of substance is a minimum of 2 years duration.

    So who waiting on the March date, will only hear August / September.

  170. Jon,
    Just catching up on the posts.
    I never said 10% per month is guranteed in perpetuity, so read my posts again.
    My posts was all about celebrating with mrs the movement in the Fx market the previous day, and the trading gains that we made. That is why I said hug that up, so don’t take it personal.

    To Jay and others:
    Read my post again (FXTrader, on January 21st, 2009 at 7:56 pm Said: )
    I am holding firmly to the belief that if a trader is willing to accept a trading loss from the market because the trade has gone bad, then he can preserve his capital to trade other times. This is what I wasn’t doing in the past.
    Since then, I am able to take hold of other trading opportunities and my gains have exceeded my losses. That’s all. That’s why my account more than doubled this month.

    Jay, if you and others that trade look back at what you did when you have trading losses, I bet you all stay in a losing trade hoping the market would turn back in your favor, and when you see gains, you stay in too long hoping it would get bigger only to see it reduces and go into loss. Wanna bet.
    Why? A dat mi use to do too only to see my account go down fast when all mi should a do is to take the gains, cut the damn loss, wait to see what the market gonna do next, and if possible, trade the nex way.

    Jon
    The most important thing I took away from reading Bill Lipschutz article is that he monitors his trade without fail (18 hours per day).

    In the past, mi would a leave mi trade hoping it would go my way, only to come back and see it in loss. Man I was so vex that mi want cuss some badword.

    But you since mi start to watch all a mi trade dem like Bill, and when mi seh all a mi trade dem mi mean all a dem, mi can see when the losses dem a form and close the trades, and grab the gains dem before dem reverse.

    So who knows, probably that is what the top 5% of traders doing.

    So Jay, mi could a do wid a little encouragement instead of a laugh.

    PS
    After taking a 6% loss on a trade last night, I just close a trade wid 8%. Whooppee
    So it is till 1 step backward, 2 step forward.

  171. FXTrader, mrs, somethingmissing:

    Any books that helped you a lot in actual trading?

    -Söze

  172. Mr. Söze

    I was one of the first persons in Jamaica to do the MTI course in Jamaica, but I didn’t use their system because I was suspicious of it. Why? If everybody is doing the same thing, then how can everybody win. “you see mi”

    Instead, I spent the time watching the currency charts, one currency pair at a time, on various time frames (daily, 3 hour, 1 hour, 30 minute, 15 minute, 5 minute, 1 minute), along with indicators like the MACD, RSI, etc.

    After a number of months, I realise that the market goes up and down in waves, sometimes more up than down, sometimes more down than up. That is how you have a TREND.

    So all mi do, is look at the 3 hour, 1hour and 30 minute charts to spot a trend UP or DOWN, then use a 1 and 5 minute charts, to trade.

    There is always a smaller trend in a bigger trend.
    So if the Trend is DOWN in the bigger time chart, mi just try and look for a trend going up in the smaller time chart like the 5 minute. And when it look like it a go come back down, mi just wait a likkle and a watch it, and if it really look like it a come down, den bam, mi place a trade. Me mek up mi mind that if the trade is bad, mi just hug up dat loss. But more time than not, mi get a gain from the market.

    Another thing, mi not staying too long in the market because it take back you gains sometime, so mi a look fi close my trade dem soon after start see gains. If mi wait too long to see any gains (like 2-3 hours), mi a go close my trade with a small loss, because sometime the market set for me and want give me bigger losses.

    As simple as that, no joke

  173. FXTRader:

    Seriously unless you do this professionally for a living rather than being a passive investor, how can anyone watch the market as you suggest and get any other real work done?

    Also when someone selling a course for FX trading (or most anything else) tells you that only 5 to 10% will succeed… he is telling you you are a fool and I just conned you out of your money. ONLY about 5 to 10 % of traders have any real gains over time.

    LOL… It is like a funeral parlor having a seminar on caskets and burial plans and telling you… Buy from us because every year 1 to 2 % of everyone will die and need to be buried… LOL. This info may be factual but is not reason why studying their info will change your odds of dying.

  174. nocotec

    It sound like you are agreeing with me about the course. Remember mi seh mi neva use the MTI system although mi go a di course.

    And seriously though, the only thing mi do is sit down and watch the computer screen. bwoy it boring but it works so mi wi continue doing it.

    And I browse the internet too, play computer games, eat, listen to the radio in the background, watch the tv from an angle, tek a bathroom break, and when mi eyes dem too tired, mi go hole a shut eye til the next time.

    And mi just read over what mi a go post and it really sound like mi nuh av nutten fi do. but as I said, if it work, mi wi continue wid it.

  175. A lot of persons brag of experience and what they can do, when you check it out, what they have being doing is usuing a stategy with a DEMO account.. and somehow believes that this same strategy will transfer to real life.

    it does not..

  176. mr.soze…ADXCELLENCE by dr.Charles Shaap,will give you a great perspective,however lots of time and practice are the greatest asset…use a demo for at least 6-12 months and see how you do,then if you feel confidenr start with a small sum of money.

  177. FXTrader, on January 22nd, 2009 at 11:36 am Said:

    I am holding firmly to the belief that if a trader is willing to accept a trading loss from the market because the trade has gone bad, then he can preserve his capital to trade other times.

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

    That is some textbook bullcrap that does not hold in the real world, and will sink your company.

    When a trader has a loss, if he decides to accept it and preserve his capital, he post the loss, his clients will IMMEDIATELY have a run on him, causing havoc in his cash flow and disrupt his strategy. Most traders HIDE posting losses as they know their clients will lose confidence if they post losses. Thats why most FX trading easily turn into Ponzi’s as the trader tries to dig himself out of a hole, which usually results in a bigger hole

  178. Somethingsmissing, on January 22nd, 2009 at 4:49 pm Said:

    use a demo for at least 6-12 months

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

    bullcrap. Demo account are crap. they will never teach you the key aspects of emotion handling.

    you need to learn with real money. a real trader knows there is no room for error and can handle the pressure. a DEMO will never teach you that. it will do the opposite, make you feel like an expert, when you are NOT

  179. Colonel McMillan was an expert armchair General , but a failure when he got the job. calling it from the sidelines will never make you an expert. you have to get in the game and take your licks

  180. Cullkull

    What you just post above is the very reason why in the past mi have greater losses than I should. I ususally stick with a losing trade which gets bigger SLOWLY, that by the time mi realise what a gwaan, mi losses get VERY BIG, that bad.

    It is since I man start to accept smaller losses earlier before they get bigger, that things are going much better for me.

    If you trade FX, try it before you knock it.
    Mi can’t force no one, just thought I would share a strategy that works, That is all mi a seh.

    Any by the way, it is not demo account mi using, it is real dollars.

  181. By the way, I man never use stop loss in my trade, because mi prove it over and over again and again that the market hunt your stop losses.
    I decide when to close the trade with a loss, or use a limit order if necessary.

    You see mi a share more of the way I trade

  182. FxTrader its more your broker who hunts your stop losses

  183. FXTrader:

    Given what you have learnt over the past 2-3 years that you said that you have been trading, could you explain what expertise DS has that you have yet (or maybe you have) to master?

    Better still, explain based on your knowledge, how you believe DS was able to achieve the consistent gains over time. What could he teach you now, to make you one of the best traders in world (like him)?

  184. Davesin

    I am a day trader. Because I am into screen watching, I trade heavy.

    I understand that DS trades over a longer period, so I really don’t know his strategies, like how much of his margin him use to make a tade. But i am sure his trades would show losses from time to time, and him probabbly just ride it out until him go into profit.

    One trader who present at the MTI course said in a 1 to 1 session, that he uses only 2% of his account to trade, and can stay into a trade for up to a year or longer if necessary until the market comes back in his direction before him see a profit.

  185. One trader who present at the MTI course said in a 1 to 1 session, that he uses only 2% of his account to trade, and can stay into a trade for up to a year or longer if necessary until the market comes back in his direction before him see a profit.
    ********************************************************************************
    FXTrader:

    I hope you don’t slam me on this, but I’m not a FX trader, but if you are only risking 2 % (or 20 % for that matter), doesn’t that imply a finite resources and hence a limit as to how long you can have a “trade” open? In other words, if you are incurring losses, wouldn’t you have to close out the “trade” or force to, once the funds at risk is depleted? You need to hold my hands on this issue.

    It appears on the surface that there are these “bungles” or “basket” of random variables (strategies, market forces, etc.) that impact the outcome of a trade. So, what separates a “good” trader from “bad” trader? Can bad/good trader learn to effect these totally random events?

  186. Davesin

    Using 2% of your account or margin to trade is not the only variable. They will also decide on what levergae to trade at. I think the lowest on offer is 10 to 1, which long term traders prefer (minimise their unrealised losses).

    Invariably though, when they place a trade, it is always in the direction of the major trend. It has been proven over time that no one trader can influence the market for any considerable period of time (governments try it but it can’t last), so the market will always move in the direction of the trend.

    I have not said anything about risk, but long term traders will have a predetermined level that they are prepared to cap their losses (it could be 20% as you suggest above). This level of loss I believe is just in case there is a sustained turnaround in the market cause by say war, political upheavals in a major country, massive unforseen disaster, (9/11 didn’t count because the market behaved the same way).

    Overall, using myself as an example, I think a bad trader is one who refuses to take losses from trade, hanging on dearly to losing trades, only to see those trades going in to much bigger losses and wipe out their account.

    I should know, I have been there before until now.

  187. kullcull
    using a demo was only a suggestion to get familar with the platform,if you read my post i said after you get comfortable to then start trading a very small amount of $$

  188. Yak , Yak ,Yak ………….YAK !

    Tek it up with Martinez …!

    Now back to our regular programming ………………………

    The Songs of a Ponzi Don

    Whey di money deh !

  189. I hear you Chimp. Yes the current crop of bloggers have an agenda in distracting from real issues. I’m on a short break.

  190. Sirach

    When is the commission of Enquiry in the TCI finishing up? Do they have a schedule

    l&LL

  191. Currency Traders

    Watch the video in the following link and get some insights that “could” improve your trading strategy.

    http://www.umttrading.com/?p=243

    Click on the link in the GREEN BOX

  192. you will all turn to be basketcases like Sirach, if you follow Olint , blow by blow, and let it become an obsession… the earliest you could even think to know whether you will be getting any money back is next year !!! ( 2010).

  193. take a break Sirach. it is good for your mental health.. I am sure you already knew that.

  194. Davesin

    Here is a follow up to that question about risk.
    It also supports my point about not staying into a trade too long when it is racking up losses

    http://www.umttrading.com/?p=249

    I repeat, I think good traders know when to cut their losses and preserve most of their capital to trade another time.

    Focus on this part:
    “And, what is most important is we take trades where our reward is larger than our risk. You might see strategies out there these days that have almost unlimited risk – they’ll keep a trade open until it closes at a profit – no matter what the risk is. This is simply a mistake – you’ll have huge drawdowns and it becomes un-manageable.

    That’s not the way we trade – we know our reward is greater, it’s very manageable and we can keep our risk down per trade on our accounts to 1% if we choose. 2% if we choose to get aggressive. You see how that can be so much more comforting than having endless risk?”

  195. Kull just simmer nuh man? We have it lock. You detracting and showing your allegiance to Jared is only going to hurt you. The other Azan’s don’t want BUSHMASTER to leggo their Legit for real transactions….yet you keep surfacing and telling people 2010 for their money…what drives you Cull?

    Them have tape of you and Sean all soliciting at the courtleigh hotel…..Marketplace…the Prado…..foreigners…..Kull look how long I try help you…..get a lawyer and look about your problems brother…..man an man door a get kick off and you are here feeding the people BS….

    Kull you are open…soliciting….working with Jared and Smith promoting the BS class trading “pals”…..A nuh your Zoloft dis Kull.

    Yet rather than contemplate issues that directly affect YOU….you are here telling people that court is no good and 10 years and forget about your money????….

    Is it your personal struggles for freedom lead you to this???

    Kull I tried to help you so long ago…..Now I tell you….look bout your own self but do not lead people astray…..Your stuff is transparent…you do Azan name and tingot want it to come out….TRUST ME……so consider…..simmer….

  196. di lot a unu a idiot

  197. FXTrader, could you please post a comment at: http://invest4life.wordpress.com/investment-clubs-2

    We would love to have your input there since you are a forex trader.

  198. yeah f/x, go deliver a word to the flock.

    they seem to be in short supply of kool-aid over there.
    your services are desperately needed.

  199. vapor, if you all come here and read, why do you need fx to post on your blog?

    whats the difference?

    oh, its kinda like a gospel artiste at sting is it?

    some have a need to here the ‘word’ in an environment uncontaminated by infidels and non-believers.

    good luck fx. i’m confident you’ll do well over there.

  200. Jon
    Because of the olint situation, i understand your cynicism. But if you just try my advice, you can see if it works or not.
    All I am saying is cut your losses by closing trades where the losses seem to be getting bigger. Then look for other trading opportunities. The strategy is to try and let your winning trades exceed your losing trades.

    So far this month, I am now over 120%, and I still can’t believe it. All mi do differently is learn to take my losses, that’s all.

    Anyway, I post the following over on the ther blog, but them nuh release it yet:

    Mercury Vapor

    Simple rules to everybody trading forex, especially those that are not expert:
    1-Always monitor your trades, never leave your trades unattended
    2-The best trading oportunity is when the market a run preferably in the direction of the trend, you will see it.
    3-When you just place a trade, expect it to go into loss, it always happen, even if it run over into profit when you just place it.
    4-look for it to go back into profit, and when that happens, always get ready to take what profit you can, even if it is small, i don’t care if it is 1 pip. Better that than a loss.
    5-if your trade stays into loss and seem to get bigger, just close the trade and take the loss. Why? Sometimes the market a signal to you that your trade is in the wrong direction, and your losses will get bigger. You can always trade again afterthat and hopefully make back the loss.
    6-Always use the smaller time frame like 5 minute and 1 minute to trade, after analysing the trend on the bigger time frame like 1-hour and 30-minutes.
    7-And lastly, try not to stay too long in the market, over time you will know when you are in the market too long.

  201. f/x, olint has little to do with what you call my ‘synicism.’

    if you are convinced that your trading strtegy, as simple as it seems, works, then good for you. keep it going and you will do well for yourself. you may even bottle it and sell it one day.

    however, i urge you not to get carried away. ‘success’ can be fleeting and it is unimaginable how different things can become once the scale of operation is changed.

    i get the sense that you are a sincere guy trying a ting, and so far it working. good for you.

    be careful how you progress though. its easy to go from where you are now, to a madoff, ds et al. all you need are a few red p’s and #4 bus type people blowing smoke up your @## telling you that you are the best in the world. that intoxication can lead you astray.

    good luck.

  202. Okay Jon, wise words.
    I will keep that in mind

  203. FXTrader, on January 24th, 2009 at 10:20 am Said:

    ….Anyway, I post the following over on the ther blog, but them nuh release it yet:…

    ——————–
    what happen fx, dem waiting to see if you are really who you say you are?

    are you “the one”? the truth?

  204. fx, just teasing.
    not trying to be mean.
    have a laugh.

  205. no man, just FXTrader.
    There is a message saying awaiting moderation, so they will probably release it later today

  206. Ponzi are being exposed left , right and center.

    http://abcnews.go.com/Business/CEOProfiles/Story?id=6701991&page=1

  207. seems like you are “the one” fx 🙂
    your post has been released for the flock. this will help them keep the faith at least a littl while longer.

    http://invest4life.wordpress.com/investment-clubs-2/#comment-13692

    well done master. your faithfullness will not go un-noticed.
    ha-ha-haaa

  208. Olint’s boss pleads with clients

    http://www.sunheraldja.com/article/show/2151

    Contains stuff that most of us who blog here already know

  209. Mercury Vapor
    I am posting the following response on the other blog, but it is not going through just yet.

    I am trading for over 2 years now, started out part time, but now full time.
    I must hasten to add, that during that time, I always have winning trades, sometimes fantastic, but when a trade goes into loss and stays there, I just couldn’t bring myself to close the trade with a loss, thinking, hoping, praying that the market would come back in my favor and give me a profit. Suppose I tell you that sometimes it is just one trade that wipe out my account, just one trade.

    The ONLY change I made in the way I trade is to learn to close losing trades. That’s all. And I would encourage anybody who wants to be a currency trader, to come to the market with that mind set.

    There is no magic, no secret, no sophisticated technique that I can share with you. Just have a healthy and realistic attitude towards the market, and know that its not you who control things.

    So I repeat for the last time, get ready to grab your profit when you see them, BUT learn to take your losses, sometimes early before they get much bigger.

    PS
    Remember I sit down in front of the computer and monitor every single one of my trades

  210. There is no magic, no secret, no sophisticated technique that I can share with you. Just have a healthy and realistic attitude towards the market, and know that its not you who control things.

    —————–

    So FX trading and the punters at Caymanas or Belmont park are really in the same boat..

    its really just a gamble, the control of the variables are outside of the scope of any one individual/team

  211. cullkull

    I guess you are correct on that one

  212. UPDATE:

    With my combination of trading gains and losses, I am now up over 140% for this month alone (jan 09).

    As I said repeatedly, I am not afraid of closing losing trades, because they would a mash up mi account for sure. So as mi lose a trade, mi just get back into the market to mek back some gains when mi see what look like another trading opportunity

    You guys should try it since some people feel they won’t get back their money from Mr Smith

  213. AML / Rob Rowson has done nothing but waste taxpayers money by sending various people, officers and regulators on witch hunts that did nothing more delay the entire process of discovering the truth for everyone. It would be diffrent if AML had money at risk, then he would of had a clear focus to get the money back for himself and investors, rather than use this platform as a way to take out his personal erounous vendetas on disinterested people. He has spent countless hours writing false information, painting false picture, and creating informations that has nothing to do with helping investors get thier money back or investigators find the truth.

    At some point in time a person needs to understand that what goes around comes around. Its called Karma for people that don’t get it.

    After all, who really can trust a person that constatnly accuses the inocent and ends up in jail Himself.

    see for your self!

    http://webbond.seminolesheriff.org/iinfo.aspx?bkg_nbr=200900000978

  214. Lead Investor:

    Why are you spamming this blog with your bullsh*t? Why don’t you go over to the #4 bus with your crap. I guess you work for the Martinezs or you are one of them. We DONOT care to hear what you have to say…..you are the one promoting lies. If not, tell us where is the money you guys have for the Olint investors. Thanks AML/Rob Rawson for revealing the TRUE crooks in this scheme. I guess you are getting nervous….the FBI is coming to get you guys next!!!!!!

  215. Mike D:

    I picture you a little fat ugly man in a damp basement. Why are you so intolerant? SO what Lead has a different point of view……Are you God? Ore you and the other two the Trinity?

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