Hi guys and gals...still alive

Golo100

Bronze
Jan 5, 2002
2,138
56
0
First my condolences to AZB. I have been absent from DR1 for quite a while. My computer was virused by e-mail monsters. Then the economic situation has made me spent more time handling my finances, which now have been totally dollarized.

I do not longer possess a single peso, which is not destined for purchasing minor items. The peso is dead in my budget and accounts. I do not possess more than $3000 or $5000 pesos at any time. It is worthless to continue to try to save this currency. I find it even dangerous to possess any amount exceeding that.

I have turned mostly to real estate holdings and have transfered money to the U.S. There is no sense in investing money in DR anymore. Hipolito Mejia has achieved the improbable.....ruining the Dominican Republic. I once stated that "even Hipolito could not stop the DR growth". I was wrong. He has!!!!

I bought a new penthouse in Gazcue and hope to move soon. I will continue to live in DR hoping for the best, but with my financial and economic "feet" deeply entrenched in South Florida.

A warning to those who want to invest in DR:stay away!!!!! This is not the time and probably not for the rest of 2004.

Golo
 
Mar 21, 2002
856
2
0
You spoke all that garbage about the wonderful CB certificates and their fake returns. I guess you've had to eat your words. At least you're humble enough to return to DR1 disgraced and broke.
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
Onions, I think you are wrong

What the GOLO did was cash out all of his certificates and buy dollars. He got his interest, you can be sure...and he got his capital.

However, if he bought the certificates in August, by the time he cashed them in, even with 3% a month interest he lost money...

That is also for sure. But believe me, he got his money back... or the sky would have fallen..

HB
 
Apr 26, 2002
1,806
10
0
GOLO,

WILL DOLLAR BANK ACCOUNTS be involuntarily converted to pesos at 35:1 - with the proceeds used to pay international debt, for plentiful electricity, for "botellas" and otherwise for Hippo's reelection? Inquiring minds want to know.
 
Last edited:

El Jefe

Bronze
Jan 1, 2002
534
0
0
Hello Golo

Despite some setbacks I am still here too. Good to see you back on board. I do not keep up like I used to because of the health problems but I am still lurking just around the corner and will contribute when I can and when I think what I say can have some meaning or help.

Carl "El Jefe"
 
Mar 21, 2002
856
2
0
I here you Hillbilly. But you know he did speak all that garbage in defense of those ponzi scheme investments, despite the fact that many learned DR1 scholars told him otherwise. How many times did Mondongo, AZB, Ken and others tell him about that? As usual he didn't listen to anyone else's advice except his own. I forgot that wonderful article by one DR1 poster who stated that keeping your money in dollars under your mattress was more profitable than changing it into pesos and getting the gizillion % return from the CB.

Now Golo's articles on DR dirt are entertaining but I think most people would be better served if they got their investment advice from Martha Stewart or perhaps Bernie Ebers.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
"O&C" and Cris Colon come to an agreement!!!

"Golo" has the "selective" memory of a Russian President!He said The Dominican Economy could not be stopped,
that the Peso was king,then the dollar,he stood on line for 2 days to buy those worthless certificates,and now it's real Estate,and he never looses a penny! "Yeah Right"!!!!
I didn't do anything,except change US dollars into pesos at 40 to 1,45 to 1, 49 to 1,and last Friday,at 54 to 1!!!!!!!!!!!!!!!!Those Dollars were just sitting in Boston.Last January,they were worth 20 to 1.This January,average about 50 to 1! That is 150% gain!!And absolutely ZERO risk!!!

I am spending pesos like a Drunken Sailor,and believe me,I have lots of experience doing that!!!!

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
 

DCfred

New member
Jun 19, 2003
344
0
0
that the Peso was king,then the dollar,he stood on line for 2 days to buy those worthless certificates,and now it's real Estate,and he never looses a penny! "Yeah Right"!!!!

Well the problem with those certificates is that you will be paid back with devalued pesos. Even if they offer you 36% or something like that, they are just going to print more money to pay the interest thus further diluting he value of the currency.
 
Mar 21, 2002
856
2
0
Wood Formica:

Lo valiente no quita lo cortes- sure we are all happy he's back. But the truth is he stunk it up. If he wasn't such a pompous guy then no problemo. I would like him to respond to this post and state some facts of the losses he incurred. It would also be nice if he would admit that he stunk it up.

The rare alignment of Criss and me points to some truth here. That's funny Cris I had forgotten how he said he stood in line for 2 days dressed as a pauper with a certified check worth 20 gizillion pesos. Also how everyone who's somebody in the DR was buying that garbage. Well that'll be alot of suckers with smelly pesos.

I wouldn't be harping on him so much if he would just come here and admit he stunk it up like a skunk. This would reveal his true greatness. Knwing him though, he'll come on with guns a blazin'.

We all make mistakes. It would be nice for him to admit some of his own.
 

AnnaC

Gold
Jan 2, 2002
16,050
418
83
That isn't going to happen O&C. You're not important enough for him to come out and blaze you.

He isn't GOD but he has more political info than you can provide for us. So just take what you want from his posts.
 

Forbeca

Bronze
Mar 5, 2003
729
2
0
Onions&carrots said:
Wood Formica:

Excuse me? I couldn't get pass your salutation there. Everything else you said went right over my head. That's how interesting it was.
 
Mar 21, 2002
856
2
0
Anna " Fettucine Alfredo" Coniglio :

Well at least you felt I was important enough to answer and your the moderator. At least somebody cares about me on DR1. Thanx Anita.
 

DCfred

New member
Jun 19, 2003
344
0
0
Lets not be hard on Golo. The wonderful thing about this board is that we get such a broad spectrum of opinions, based on diverse experiences. I think when you put everything together it does create an accurate, big picture of the situation in the Dominican Republic. This board is really a reality check, specially on these troubled times.
 
Apr 26, 2002
1,806
10
0
Onions&carrots said:
Wood Formica:

That's funny Cris I had forgotten how he said he stood in line for 2 days dressed as a pauper with a certified check worth 20 gizillion pesos. Also how everyone who's somebody in the DR was buying that garbage.

I think, O&C, that we should credit Golo for sharing his personal experiences. It opens a world (sangres azules) that I would otherwise not know much about. This forum loses a lot without him.

I have been most critical about Golo's crypto-racism in past posts, and not about his attempt to preserve the value of his holdings. Remember, if your a Dominican blue blood, its all about preserving what you've got, and not about creating new wealth through economically productive activity for your country, your community or even yourself. The latter would mean "work". Golo has opened this world up to us, and it is fascinating.
 

Tony C

Silver
Jan 1, 2002
2,262
2
0
www.sfmreport.com
Now we are discussing GOLO's Financial situation?

If you recall I told verybody 3 years ago to get your money out of the DR. Everybody, including GOLO said I was crazy. I did and I am happy because of it.

I was the first to predict back in 2002 $40-1 in 2003. Everybody said I was crazy.

I guess that makes the DR1 Financial genius now!!!!!

Remember PRD stands for "Pobre Republica Dominicana!"

BTW It is going to get much worse before it gets better
 

Forbeca

Bronze
Mar 5, 2003
729
2
0
Porfio_Rubirosa said:
I think, O&C, that we should credit Golo for sharing his personal experiences. It opens a world (sangres azules) that I would otherwise not know much about. This forum loses a lot without him.

I have been most critical about Golo's crypto-racism in past posts, and not about his attempt to preserve the value of his holdings. Remember, if your a Dominican blue blood, its all about preserving what you've got, and not about creating new wealth through economically productive activity for your country, your community or even yourself. The latter would mean "work". Golo has opened this world up to us, and it is fascinating.
.



Yeah well, he does a certain amount of "overshare" which I always find can work against you in the end. I respect him for that, but where does it get you? People are too ungrateful, and it doesn't matter what you do, ultimately they w/ find something to criticize.
 
Last edited:

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
Yeah, everybody

But at least he gives us a good read every now and then.

I am happy to see him back and lively.

I am sure that in real terms he lost a lot on the Banco Central certificates...he had to. But So what, at least he was man enough to tell us about it.

If I knew enough about economics, maybe I would say something erudite like "Put it is pesos" or "Get your dollars out!" . Since I don't have many of either I just try and have a nice life....


HB
 
Apr 26, 2002
1,806
10
0
How can you criticize Golo's financial decisions, given that:

1. You don't know what other options he had for his Pesos, if any; and
2. You don't know how much money he made in the past speculating and trading with inside knowledge in the exact same way.

It's like saying Warren Buffet is a poor investor because he lost a few dollars on McDonalds trading.

And, I reiterate, you only know about the bond situation because Golo was kind enough to fill us in.
 
Last edited: