Adam Montana Turns 40


Happy Birthday to James “Adam Montana” Wolf.  Wolfyman turns 40 on June 27, which of course means that he was still 14 years old when Kuwait was liberated in February of 1991.  Which means that it’s extremely unlikely that he made any money on the RV of the Kuwaiti dinar (which never happened anyway), which means that he lied when he told people that he profited on the Kuwaiti dinar in his book “Iraqi Dinar: Real RV Intel”, which means he’s a fraud.

“Adam” made a name for himself in the dinar world as the owner of Dinar Vets, a dinar forum he started in 2009 with a bunch of disgruntled dinarians from Dinar Speculator (a dinar site owned by Rick “Medic” Mattson) where he had served as a mod.  Adam’s background was basically running a porn site and doing search engine optimization (which he apparently learned while running said porn site in a highly competitive market), although he likes to present himself as a well-connected world-traveling entrepreneur in his mid-50s who graduated from Harvard.

Since starting Dinar Vets he has written a couple of books.  The first was the one mentioned above (available on Amazon for $29.95), and the second was “Iraqi Dinar CASH IN Guide”, which is offered for free as it’s basically just a pitch for joining his VIP group for just under $17/mo.  In addition to the books and VIP group he has pitched an asset protection plan featuring offshore tax avoidance and OGIT (Operation Get It There), an unbelievable plan to move dinar to Belize undetected post-RV to avoid a hefty tax imposed by Uncle Sam on all of these new dinar bazillionaires.

I wrote a lot about Adam in 2011/2012 when I realized that he was in fact a dinar douchebag, somebody who claims to be graciously providing helpful services and products to the dinar community when in fact he’s promoting a scam.  Since we learned his true identity and made it known he hasn’t done any conference calls or interviews like he was doing previously.  Gee, wonder why?
Anyway, happy birthday Adam.  Although it might not seem like it right now, in the end there’s no avoiding accountability and justice.  Hopefully before your next birthday we’ll have a photo of you doing the perp walk like your old buddy Rudy did before he rotted in prison.  When that happens rest assured we’ll be on it.


Adam Montana and Frank Buck


James “Adam Montana” Wolf

Adam Montana is the owner of one of the most popular dinar forums – Dinar Vets. I joined that site as a neophyte dinarian in 2010, and was banned in the summer of 2011 for basically failing to kiss Adam’s derriere.  I started investigating him shortly thereafter and in the spring of 2012, along with my buddy Chris Earl (a.k.a. Chuckles), I discovered the smoking gun that proved that “Adam” is none other than a former porn site owner and corporate recruiter named James Wolf.  After I published my discovery there was a substantial reduction in the traffic and membership at DV.

For whatever reason however, DV is still going today and people are still paying $17/mo for the VIP membership and hanging onto Adam’s every word in his weekly updates about the dinar. I thought it might be time to put a bit more info out there for consideration.

James “Adam Montana” Wolf has a number of websites that he uses for various business interests. In this video you’ll hear James promoting his SEO (Search Engine Optimization) business Frog Force Web Development.

Now I’m no marketing expert, but I think maybe Dr. Bob would get more business if he wasn’t holding a POWER DRILL!

Dr. Bob

Just a thought.

At any rate, if you compare this voice with that of James Wolf on a ski trip  (you can click on the ski video and read the comment from late 2015 to see what his ex thinks of him) and Adam Montana in his audiobook Iraqi Dinar: Real RV Intel

and you’ll see that they’re all the same guy.

Now that I’ve established who Adam is, let’s discuss why he isn’t such an honest, respectable guy. First of all, he said that he was a Harvard grad, but the fact is he didn’t even graduate from high school, let alone a prestigious institution like Harvard.  Secondly, he claims that he bought the Kuwaiti dinar at the right time, but since he was born in 1976 that would have made him about 14 or 15 when people were supposedly making a bundle on the Kuwaiti RV in 1991 (which never happened, but that’s another blog post).

I’ve discussed those issues in the past, but today I’d like to offer another slice of evidence that Adam is in fact a scammer. In the following audio from 2010 you’ll hear “Adam” introducing a man named Frank Buck who helps people with offshore asset protection.  Notice that he sets up the offshore pitch by mentioning a “lottery tax” of 70% just to make people nervous about losing most of their newfound wealth.



Frank Buck

Now, who is Frank Buck? Well, you can read about him at Quatloos, on LinkedIn, and at Dinar Vets (where he went by the name LegalKing), watch his videos on YouTube, and you can listen to the first nine minutes of this conference call from a dinar group called 4GrownUpFolks.

What “Adam” and Frank were doing was basically pitching a wealth protection scheme to people who thought that they were going to get wealthy from the dinar but didn’t actually have any wealth to protect. I remember listening to this call while a member at DV, but I wasn’t interested in buying into it and soon forgot about it.  When I was blogging about the dinar a couple of years ago however, I received an email which refreshed my memory a bit.  I never used this information because I had already pretty much lost interest in the dinar at the time.  But now that I’m back, I think it should be published.

Frank Buck came to us looking for offshore company incorporation services as well as bank account. He introduced himself as a US based attorney at law and his emails had “Attorney at Law” under his name. It took him a few weeks to get on board as he claimed he had to get a few conference calls done. I listened in on one of them and I could tell he had no idea as to what offshore incorporation as well as offshore banking was or how to employ them in a basic setting. Mr. Buck claimed that he represented a group of American Investors who were keen on keeping their funds safe as well as avoiding taxation. He also claimed the investments that his clients participated in were fully regulated and there were no issues whatsoever. Since we only provided legal services there was no need to examine nor question any further the veracity of his claims as this was none of our concern.

First Set of Clients: Deaf Investors

There was a group of deaf individuals in the USA who had come into contact with Frank Buck. He had placed them in one the investment schemes he sponsored. He mentioned that these individuals were very wealthy and were in need of an offshore corporate structure. Based on the information we were given by him we offered him a package which included an offshore company and a bank account. As a reseller agent he sent over applications as well as supporting documents for several dozen people. We proceeded with the orders as requested and provided the bank account forms accordingly as well as the instruction packs. They were shipped to Mr. Buck and there were quite a few issues with him getting the documentation completed by his clients.   We just let it go and chalked it up to him being new to the offshore industry and not knowing how things work. In the end all of these people lost their money to the scam and it was sad to see. This came about when the relationship between Frank Buck and Adam Montana went sour.

Second Set of Clients:

The second group Frank began to work with was a group of HYIP investors who invested funds in a company operated by Terralynn Hoy. They later on formed a company which included Frank himself as a director along with a half dozen or so individuals. You can check the following links as there are others known to Frank such as Roy Sullivan who was a client of his and Ron Howard, Patricia Saa, and Michael Palermo. They all went through Frank to set up Nevada companies as well as offshore companies and accounts. And they appeared on a company that Frank established as an investment company several months after the initial set-ups were made and accounts were opened. I am unaware of what this company and how it operated once it was established. They failed to pay the annual fees and it was struck off. This company was established in the Seychelles by the now defunct Professional Offshore Ltd.

All of these individuals had Nevada companies and they each had one if not more Seychelles companies with bank accounts at Choice Bank Ltd., of Belize. All of them provided a complete application to Frank and he carried out KYC and Due Diligence accordingly. He did know that the situation with them went bad and he never reported such as per the agreement he had with the company at the time. We began to question the entire scenario when there were no annual renewal requests for this particular set of clients. Since we did not contact them at all (due to an agreement between Frank and the firm) we were unaware of what transpired until a few of the clients contacted the RA in the Seychelles and they were sent directly to us.

The Dinar Guys:

This had to be the most controversial and most complicated of all of the clients we have ever had. These people were utterly brainwashed by Frank Buck and Adam Montana. Frank approached me and told me that he had a group of several thousand people who were Forex Investors. They were looking for a way to preserve their privacy as well as avoid hefty taxes from their earnings in the foreign exchange market. I proceeded to provide him with the information on the company structure as well as potential banking solutions. He then asked me to listen in on a conference call with Adam Montana and a few hundred of the elites in the forex trading group. I heard the first 3 to 5 minutes where Frank introduced himself as an international attorney who had a full office in Nevada and Texas. Adam was introduced as the Guru of the Dinar and people were grateful to him for guiding them on the road to financial freedom and wealth. Then the hardcore sales tactics started. The listeners were made to feel as if around every corner there were money hungry and blood thirsty people and government agents ready to pounce on them and the only way to keep these people away and protect their wealth was to obtain a Nevada LLC, Nevada mail drop, and an offshore incorporation and bank account package.   As we all know, an offshore company can provide asset protection but I think they did go overboard and there was a large amount of pressure on the listeners.

Frank requested a conference call with Adam Montana a few days later and I said sure why not. During the conversation Frank kept calling Adam by the name James and Adam kept chewing him out for it until he said – look if you can’t call me Adam then no more calls. Adam expressed that his people were gung-ho about getting this all set up as soon as possible and that the first set of clients would be about 200 and they were VIP members who had large amounts invested in forex.

Once the first set was completed we began to get a few calls from Frank’s Dinar clients. They began to ask questions on how to manage their companies and they had some questions on how to complete the bank account applications.

Several hundred additional applications were placed and the services were provided as requested. Suddenly the phones in our offices were attacked by calls from 8:00 until 17:00 from people who had established companies through Frank Buck for Adam. By this time we were well aware that Adam was using a pen name on the net as many people do and we were aware that his name was James Wolfe and his alleged wife was Sara who we never heard from by phone. She only sent emails from a gmail account.

The phone lines were bombarded stating that the dinar was going to RV. Now, no one in the office knew what an RV was other than a mobile home on wheels. We all were and are legal professionals and most of us did not learn English as a first language. This would not be the last of such a swarm on our office phones concerning an RV.

During all of this alleged RV Madness we had people call us yelling and screaming that they were now going to be multi-millionaires in a few days and they needed specialized services NOW and that all deals would be done in Dinars. These people were out of their minds and in the end we had to just divert their calls and have messages taken. Some of the outlandish things they came up with were caravans to Belize to go to Choice Bank Ltd. Many of their clients had stated that Adam and Frank had told them that the only way to get the Dinars to Belize and avoid all of the money hungry people that would be after them as well as the government would be to go in groups of caravans to Belize by land. (Sounds like a Sci-Fi movie to me.) The funny thing is that Choice Bank Ltd. was playing along with the guys in order to get clients. They did not care one bit and they were receiving the same types of calls and at no moment did they ever contact our offices or did they ever request that Frank Buck or anyone else to cease sending them dinar clients. This is when I began to put the brakes on and gather information. We even had a lady claim that she was going to buy a Royal Title with her new found wealth and wanted to know if we could have her company documents changed now into her new name and she would be glad to pay us the equivalent in Dinar at 1Dinar = US$3.50 as this was the alleged exchange rate that Adam was telling these people.

Once I began to investigate I found out that Adam was charging people US$400 for name reservations for companies which are free for 30 days. His clients were also being charged about 5 times what our legal fees were to Frank Buck and we all knew Frank was getting about US$500 to US$700 per company he set up for Dinar Vets and Adam’s people and Adam was getting almost US$3000 for the basic structure. Frank then had issues with Adam as Frank tried to set up his own dinar group but Adam got wind of it and sent him a cease and desist order. Adam then continued to set up dozens of companies and the issues continued to pour in with people wanting to know what we knew about the RV. We just sent these people to Adam and left it at that until some very weird calls came in. At this point we decided to cut all ties with Adam Montana and Frank Buck. They were two clowns made for each other. So, what happened then – well, we received the same cease and desist order from Adam’s attorney which threatened us that if we contacted their clients that he would take us to court. WHATEVER – a singe line email blew that out of the water – “Show me a contract…”, I never heard a response.

So, what about Frank Buck. The old Buckaroo says he is an attorney. We asked for details and docs and never got any. Then he claimed he was a retired attorney but still practiced law – ummmmm, you still need a valid license to practice law – duhhhh! He claimed to practice law in Nevada and then in Texas. We checked him out and what did we find? He is not a lawyer in either state and they requested that we complete forms in order to file a complaint.

Here is the latest Nevada search:

He also claimed to be an incorporator in Nevada and we found out he used a low cost online service as well as a mail drop in Nevada to set up companies for his clients.

The Great State of Texas has also shed some light and there is no Frank Buck listed at the State Bar as well.

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So who is Frank Buck?

This is what he says he is but we cannot find him as a corporate attorney anywhere nor has he provided any documents or details as to his studies. So, looking at things from a practical viewpoint he is not an attorney unless he can verify otherwise which I doubt. There are so many lies in which he is telling in order to make innocent people believe he is their answer to financial freedom. These lies allow him to take large sums of money form people for services they do not need and could not afford in the first place.

An overview of Adam Montana and Frank Buck

Adam Montana (James Wolfe) and Frank Buck were and still may be two peas in a pod. They went after innocent people who were also fueled by greed. Frank is fueled by greed as he is retired and looking for a way to make an extra buck sitting on his backside and Adam is even greedier and on a major power trip. They have devised a plan to make people think they are going to become rich someday either by HYIP, Dinars, or any other online get rich quick scheme. Because Frank does not have the smarts to come up with a program on his own he peddles a forum as well as offshore services to people who are on a shoestring budget anyway. If these people could afford the US$2000 and up he charges for an offshore structure they would not be going to him as he is onshore as well as there is NO ATTORNEY CLIENT PRIVILEGE as he is NOT AN ATTORNEY. A basic subpoena and all of your documents that are laying around in Frank’s home office can be confiscated. Frank saw a money making scheme with Adam and Adam enjoyed the idea of being the savior of many people. Those people thought and some probably still do think he is God. He offered them the world and riches and Frank came along an offered to protect them from the government as well as all of those jealous people who would try to take their newly begotten riches from them. In the end what did Frank and Adam/James do? They scammed many people out of their cash. Some of their clients were making payments to their credit card companies for dinar and offshore companies that were worthless to them as they had no real purpose.

Why were these companies a scam?

The entire structure of a Seychelles IBC and a Belize bank account was a sham. It was a scheme to make people think that they needed to protect their Dinar. Most of these people have only a few hundred dollars worth of Iraqi Dinar which was purchased and not earned. By purchasing these Dinar they are more like a collectible than anything else. So let’s say you have just purchased 1,000,000IQD today at the current exchange rate you will have spent around US$860. Now why on God’s green earth would you pay over US$2000 to protect US$860? The exchange rate has not changed in favor of the dinar holders that much so those millions of dinar purchased are worth pretty much the same as they were a few years back if not less. Taking that into consideration the package sold by these thugs has an annual renewal fee of US$1000 and Choice Bank Ltd., requires a US$1000 minimum deposit of which there is a fee for transferring the funds to the bank as well as a US$10 fee to deposit the funds on your account and an additional US$10 fee to maintain your account every month. So in a years time you will spend around US$3200 to protect your US$860 investment. That is 3.72 times the value of the investment itself so I think you can see where this is headed.

What does Choice Bank Ltd. of Belize have to offer?

Nothing! They are in on the entire ordeal as well. They want deposits in order to make it look like they are a growing bank and if they can get a few dozen people per month who are participating in this Dinar scheme to make the minimum deposit then the bank will benefit. Most of these people do not understand that they are now on a list of people who are going to be reported to the IRS under the FATCA legislation. Choice has also teamed up with Frank Buck and they are now serving yet another one of his Forex Scams. He is currently convincing Americans that they are in dire need of offshore companies in order to protect the millions they can make in the Forex market. Yet another scam going after people who are already finding it hard to make ends meet. SO Choice is happy to see their money come in as every dollar they get in their pot they can then lend out in Belize for an average of 18% interest per annum.

This information makes it clear to me that “Adam” has indeed been exploiting the very members who sing his praises on a regular basis. Click here to read an email “Adam” sent a few years ago to his VIP members.

You can read my other posts on Adam Montana in the links below.



The Conclusion To The Matter part 1

I was just about like every other investor I came into contact with. The Iraqi dinar was my first real investment outside of my 401k. I knew nothing about currencies or investing. I took a lot of things at face value. When I was told the Kuwait lie and the Germany lie I believed it hook line and sinker. There were a lot of lies I believed when I first got into this thing. I was about as green and gullible as I could possibly be. When I was writing posts for the blog I just repeated what I was reading in my own words. I never expected it to get as big as it did. The only point of the blog was to answer a few questions for friends and family. Soon my posts were repeated, copied, and pasted in dinar forums all over the community. As if I was some kind of authority.

I really could not understand why the hits on the blog were going up until one day I ventured into a forum and saw what I wrote on the blog. When I found out the truth I removed all the posts that had misleading information. My point of view had changed once I stopped taking the gurus word and dug in to verify the things that were said. The problem I had was that even though I removed these from the blog they were copied and pasted in the forums. There was no way to delete those posts. So the real reason for bringing Iraq Currency Watch back was to set the record straight and correct things I no longer believe. The second reason was to warn all the people who took the time to read my blog. I need to warn them about what is going to happen next. This is so they can make the right choice. These are my only goals. After this post I am done and I will no longer follow this investment. I will remove myself from investment communities and pursue the things that interest me.

I never made any money from this blog. I wanted to stay open and impartial. Making money on ads would color my perspective because now I am no better than the other gurus who make money because the reader believes there is going to be a revalue. These five posts are all about correcting misinformation and speaking the truth. In the first post I gave my personal story about how I got involved with the dinar. In the second post I correct a lot of things I believed at the time but found out later were not true. In the third post we follow the money and you begin to see the truth with this investment. In the fourth post we talk about revalue versus redenomination. We talked about the problems that could make the government unstable. If this happens everyone will lose.

Now I would like to talk about the network set up here in America to move the dinar. This dinar network is a combination of forums dealers and independent research teams. Most are dishonest and on the take. There are some that search for the truth and believe they are doing a good thing. These people don’t believe the things I revealed in the last 4 posts and for the most part are investors themselves like I once was. I hope that once you see the corruption in the way the dinar is sold you will understand why seasoned investors refer to this as a scam. I just want to show you research other people have done so you can be informed. Let this thing be established by more than one witness.

This first site is called Iraq Dinar Money. The column to the right shows a list of dealers and sites. It shows the ones who share the same IP address. It seems some sites are set up as independent analysis. They display Investment Intel and news related to Iraq. They give the appearance of being an independent site. Other sites sell dinar, but they are secretly connected to the analysis site. The illusion is these two sites are separate when in fact they share the same goal and they are one and the same. That goal is sell the dinar by any means. a lot of these sites even share the same IP address. This site is a great source for flushing out the scam artists. They tell lies to sell dinar and entice people into buying. This is also known as pumping

The other site that seems to do a great job at revealing conflicts of interest is called Dinar Douche Bags. This site reveals the real identity of the people lying to you. They have information on how gurus are connected to each other. They show all the con games going on with this investment.

The mission of Iraq Currency Watch has always been to seek the truth about this investment. I will admit I am kind of slow. After all, it took me two years to discover it. So basically I put to the test the things that are said about this investment. Iraqi Dinar Money shows how all the dealers are connected. Dinar Douchebags show and reveal the identity of all the liars. Between these three sites you should know enough about this scam to know that any money spent on the dinar will be wasted and you will lose. That is unless you can find some poor sucker on eBay who won’t listen to reason.

So now I want to talk about how my family and I got our dinar and how members of my family were scammed. When I heard about the dinar I did not dig as deep as I should have because I was looking at other currencies too. Time was limited. I found one of the independent analysis sites that were connected to the dealers. These sites are good at setting up straw men to tackle. When I decided to buy my dinar I purchased it all from Dinar Trade. This site was run by a man by the name of Ali Agha. I saw his clip on MSNBC. Ali sells the real deal. His currency is real dinar and as far as a fair exchange goes and getting real dinar in that department he is more than honest. He backs the authenticity of the currency. So I felt he was reputable.

What I did not realize at the time was how independent analysis sites were set up with Ali. At that time you could go to Dinar Daddy or Franks KTFM site and get hype about the dinar. Their job was pumping. They sent you to Ali’s site to purchase it. When you type in their special code you got a discount on your purchase. I think my discount was around 5 bucks. It was amazing how policy at Dinar Trade and intel by the gurus went hand in hand.

Let me give you an example. My brother had about 100,000 dinar. That’s all he wanted to invest. He did not want to invest anymore. Money was extremely tight and he was barely making it. During the whole summer of 2010 the gurus in the analysis forums said when the dinar RVs the rate will be over 3.00 and it will go up from there. Frank had a rate prediction of around $3.86. Everyone said when it RVs the rate will go up. Ali had a policy that you could lock into a rate after the revalue with 100,000 dinars if you made an appointment with him after the revalue. He would pro rate it.

Ali Agha from Dinar Trade changed his policy. He said that you need to have a million dinar to lock in a rate. At the same time and right on cue the gurus and pumpers changed what they were saying. They now said that when the rate comes out it will be high at first then it will go down. Now if you believe that the rate will go down after the initial RV and you now know that you need a million dinar to lock in a rate, what are you going to do? You are going to beg borrow and steal to get more dinars so you can maximize your profits right? Well my brother purchased a million dinar from Ali and he put in his code for his discount. I had other family members that sold family air looms for cheap to get the money to buy more dinars. I don’t know how much more money the dealers made as a result of this. I began to suspect that the pumpers were getting kickbacks from Dinar trade. My suspicion was this. The real reason for the discount code was to give commissions to the proper pumpers, and to credit those guys for the sales. Frank had his own code and Roger had his. This became more apparent later when Roger Dorman went on his own and started Treasury Vault. He introduced his wife Angela as the owner of Treasury vault as though she was just an acquaintance. My brother was scammed into buying 1,000,000 more dinars even though he was fine only holding 100,000.

Ali has had legal issues as well

Here is an insert from that legal case,

“From on or about January 1, 2008, through the date of this Order, Dinar Trade has exchanged approximately $4,400,000.00 into Iraqi dinars in approximately 5,000 transactions for residents of the State of Arkansas.”!userfiles/Consent%20Order%20C-11-0205-11-OR02.pdf

It makes you wonder just how much dinar has been sold and is sitting here in the United States. Does anyone know? Please leave a comment if you do.

Dinar Trade started another policy that turned out to be beneficial for Ali. That policy was buying dinar on reserve. This is how it works. Let’s say you wanted to buy 10,000,000 dinar. Now Let’s say you did not have all the money for that much dinar. You could put 10 percent down. The dinar was held out in reserve. You had 30 days to come up with the rest of the money. If you did not come up with the money you lost your reserve and you lost your deposit.

I know a lady at the Starbucks where I work she used the reserve to try to get a million dinar. She put $100.00 down and she was not able to come up with the rest. She lost her money. She told me the gurus at the pumper sites where predicting it would RV within the month so she thought she would buy dinar on reserve put in the discount code and pay for it after the revalue, And that is how that scam worked. Who knows how many people bought dinar this way and lost. The dealers are making money because they don’t even need to provide the dinar in the transaction. They just sit back and collect, and the pumpers get their commission

Later on Ali closed down. Dinar Daddy’s owner, Roger Dorman with his wife Angela Dorman starts Treasury Vault. They have the same policy concerning reserve but they changed it. If you don’t meet the reserve time instead of losing all your money you get the equivalent deposit in dinar.

Around the end of April first part of May in 2011 Ali closes Dinar Trade. His excuse at that time was someone was making threats to his family. Now Ali is opening for business again. He just sent me an email.

To all of our valued and loyal customers and friends,

We would like to thank you for your continued loyalty and support. We have received overwhelming response to our newly introduced “Guarantee Reserve Program,” allowing you pay the initial 10% purchase amount with no obligation to pay the remaining 90% balance. If you choose this, you still will receive the 10% amount in Dinars.

Unlike other dealers, all of our currency programs are backed 100% by the capitalization of Dinar Trade. The “Guarantee on Reserve” program ensures the full amount of Dinars that you reserve are kept in our secure vault. Other dealers have often imitated our reserve program, but cannot match our customer service and industry-leading services.

So now he is back?………. He gives an interview on blog talk radio

In the link above is a call on Blog Talk Radio. The call is between Ali Agha and Roger Dorman. He talks about opening up his business and he talks about his contacts in Iraq. I believe Ali does indeed have contacts in Iraq. I think he is well-connected.

This whole thing puzzles me. I strongly suspect his real reasons for closing down and starting up again are different from what he says in this call. The timing is too suspicious to me. When Ali closes down it was just one and a half months later in June that Iraq announces their redenomination. They announce new lower denominations that will be printed with Kurdish symbols. The last video in the last post goes into detail about this.

Now this redenomination has been put on hold. The date of this article is April 14 2012.

“BAGHDAD, April 12 (Reuters) – Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said on Thursday.”

We talked about the fact that Shabibi released 6.5 trillion more dinars into the money supply. Now all of a sudden Ali opens up for business once again! I think the dealers, pumpers, gurus, and even Iraq thinks we can get a little more milk out of this cow. These are my suspicions. I would like someone to provide evidence that proves otherwise. has been around since May 5 2004. It was registered out of Bakersfield, California by Maria Agha. The site is run by Ali and it was started with his father. Now Ali is moving his headquarters to Las Vegas. The main Office will be there. He says the reason for this is because of threats on his family. I think the real reason may be because he thought the dinar was going to redenominate so he closes up shop. Then they postpone the redenomination a few years so he reopens in Vegas. He chooses Vegas because he is getting killed on taxes in California. Nevada has no state income taxes. This whole thing just smells funny to me. Why is Roger on a conference call with Ali? Isn’t he a competitor now? Treasury Vault competes with Dinar Trade right? Or does it? Rogers’s wife runs Treasury Vault. I noticed that Frank was missing from the call. Of course I downloaded the call and it is now in my archives.

It is stuff like this that causes me to suspect that when the redenomination comes and a new ISO number is issued the dealers will all pack up and go into hiding. They won’t buy dinar anymore because they won’t be able to sell it to new investors and they won’t trade it in because there may be issues with returning the currency to Iraq.

“Wait but Ali will provide liquidity because he owns a bank in Iraq right?”

Here is a list of all the banks in Iraq.

Central Bank

Central Bank of Iraq

State owned banks

Rafidain Bank
Rasheed Bank
Industrial Bank of Iraq
Agricultural Cooperative Bank of Iraq
Real Estate Bank of Iraq
Bank of Iraq
Trade Bank of Iraq

Private Banks

Ashur International Bank for Investment (Mobile: +9647700224514, +971505589633)
Kurdistan International Bank for Investment and Development
Warka Bank
Babylon Bank
Bank of Baghdad
Basrah International Bank for Investment
Commercial Bank of Iraq
Credit Bank of Iraq
Dar Es Salaam Investment Bank (Dijlah and Furat Bank)
Economy Bank Iraq
Gulf Commercial Bank
Industrial Union Investment Bank
Investment Bank of Iraq
Iraqi Middle East Investment Bank
Islamic Bank
Mosul Bank
North Bank
Sumer Bank
Union Bank of Iraq
United Investment Bank

Ali Agha is not listed as the owner of any of these banks. In fact these banks have not changed owners since 2006.

If you want to find out anything about dinar lies or anything about dealers or pumpers just use these three sites. Iraq Currency Watch, Dinar Douche Bags, and Iraq dinar money,

Let’s say you want to know more about the site dinar vets. Start by going to Iraq dinar money and search for the Site and its founder

Now let’s say you want to find out more about Adam Montana. Adam wrote a book and in this book he claims he is a Harvard graduate. Let’s say you want to know more. Well a quick dig and you discover that Adam is not this guy’s real name. Over at dinar Douchebags you can discover his real name which is in fact James Wolf,

Sam I Am has way too much time on his hands but he is uncovering some interesting things. He did analysis of Adams voice from a conference call and found his ski video on You Tube. Voice analysis confirmed that James Wolf is indeed Adam Montana.

This You Tube channel has videos revealing this guy. James Wolf AKA Adam Montana sells some VIP membership on his site which promotes giving financial advice after the revalue. I looked at Harvard. There is no record that I could find of one James Wolf ever graduating from that university. If anyone has a record of this please share. ummm James I know your reading this!!!

These are the kind of things associated with this currency that make real investors consider this whole thing a scam. Can anyone name another currency that is lied about so much?

Internationally Traded Currency

The big question I get from people is how will Iraq be an internationally traded currency if they redenominate? This is a step in the wrong direction isn’t it? The banks will trade it in after the RD, RV, RI or whatever. This is because the currency will be internationally traded right?

My response is this. Are the banks taking the dinar now? There used to be several in my area. There are none now. The dinar is only meant for use in Iraq. It is a pegged currency and it does not float. Right now it is not an internationally traded currency. But let’s consider for a moment that Iraq wants their dinar to be internationally traded like some of the other currencies on Forex.

Iraq’s currency could  become an internationally traded currency after the redenomination process is finished. In other words they redenominate and you miss the trade in period because you are unable to exchange the old denominations for the new denominations. After the trade in period expires and the process is over then the new dinar becomes an internationally traded currency. No one knows for sure that they will redenominate and become an international currency at the same time! Just like no one knows that they will redenominate and dedollarize at the same time. They may choose to dedollarize long after the redenomination process.

Consider this, It would benefit Iraq to redenominate in country only and get rid of all the old currency outside its borders without providing liquidity. It would not need to send the billions of US dollars back to the United States that it once got for it’s now worthless currency in the first place. They won’t need to print as many lower denominations saving even more cost on the redenomination.

But I just want the new notes not the US dollars so what’s the problem?

The problem seems to be that there is a liability issue with the new notes. Even though you may want those notes now there will come a time when you will want to trade that new note for the US dollar. I tried to calculate just how much dinar is in the United States. I think that there is at least 2 1/5 trillion dinar here in the states. (Not sure of exact amount) If this is the case that means that over 2 billion US dollars are in Iraq because of this. Why would Iraq allow new denominations to come to America? Won’t Iraq be on the hook for that much money? Oh wait we all know how honest the politicians are over there right? You can trust the guys running that country half way around the world. (note the sarcasm) In your heart……What do you think Iraq is really going to do?

I really started this post thinking it would be my last, but this post is already getting way to long. So I will need to stop here and do one more. I want to talk about who really owns the central bank in Iraq. This post is already way too long to include all I want to say. I guess writing blog posts are like eating potato chips You can’t just eat one.