Adam Montana Turns 40

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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?
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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.
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Dave Schmidt’s Gold Heist

dave-schmidtIt was recently brought to my attention that Dave Schmidt, the former Washington state senator turned dinar guru, has a photo of a gold vault on his website where he says:
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“… we are moving into the new “Golden Age” where the world’s gold will be released for a shift and change to our planet and our world.  Dave has countless photos of this gold that is beyond most people’s comprehension.  This gold has been kept hidden from the public for thousands of years and is kept in custody by “keepers” at various locations around the world.”
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The photo accompanying the text is presumably one of those hidden gold locations that he mentioned, but it turns out that it’s actually a vault in the UK that was used as a dining hall during WWII. Seems Davie heisted the photo from a UK news site.  (Thanks to RamblerNash at Dinar Daily for pointing this out to me.)  The first photo below is a screenshot from Dave’s site, and the second photo is from a UK news article about the London vault.

Dave Schmidt gold

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Can you say “busted”?  Now, Dave might claim that he never stated that this photo was from the secret stash, but I think the implication is obvious.  Anybody reading his site and seeing that photo is going to assume that this is supposed to be a photo of one of those secret vaults.  But I’ll tell ya what Dave … shows us the real photos along with some evidence that this gold exists and I’ll drop the matter.  Introduce us to this nameless, faceless “ambassador” you’ve been talking to about the Dragon Family’s gold, along with some evidence that the Dragon Family actually exists and I’ll remove this post.  For that matter, make one prediction about something … ANYTHING … that proves that you actually have any information worth listening to and I’ll humbly apologize for all of the “nasty” things I’ve said about you.  In the meantime, you remain on my Schmidt list.

See this page for gold photos

 

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Who Do You Trust?

On Tuesday May 17 a caller asked Trusts Unlimited conference call host Jim George a few questions about hard currency scams like the dinar, dong, rupiah, and zim.  His responses were very telling.

First, Jim claims that his company contracted currency exchanges with a consortium in Kuwait.  He offered no explanation as to how that would have taken place or evidence that it occurred at all.  When pressed on the issue he claimed to have bought Kuwaiti dinars for 10-15 cents (again, no explanation was provided as to how he did that) and later exchanged them for the official value of about $3.40.  If everything else he said on the call sounded legit that might make this story a bit more believable.  Unfortunately it didn’t.

Jim George

Jim George

When asked about the demonetized and completely worthless Zimbabwe dollar he claimed that it would be a great payout if the zim was reintroduced into circulation in Zimbabwe.  The caller asked him if any demonetized currency in history had ever been restored and he admitted that he didn’t know of one, and that’s why he only holds a small position.  It gets worse from there.
When asked about the dong he suggested that China wants the dong revaluation to take place.  Again, no evidence of that.  This is one of those guru “forum facts” that is offered frequently on these calls with absolutely zero substantiation from any legitimate news or business publication.  The fact is Vietnam’s policy for the dong for several years has been a gradual devaluation to strengthen their position in exporting (see chart here), and that has worked quite well for them.  Their GDP has tripled over the past 10-12 years.
Next, Jim states that he also owns rupiah, the currency of Indonesia.  Currently the rupiah’s value is about $.000075, less that 1/10 of the dinar’s value.  Jim’s rationale for owning it is that Indonesia is in “that same general area”.  Huh?  That’s your criteria, that’s it’s near Vietnam?  Why not own the currencies of Thailand, Singapore, or Malaysia?  I think I know why.  There aren’t enough zeros on those currencies.

It seems clear that the pitch from people peddling hard currencies is that the more zeros they have on them, the greater the potential payoff.  Why don’t you ever hear any of these guys pushing the Russian ruble ($.015 – third largest oil producing nation), the Mexican peso ($.055 – the tenth largest oil producer in the world), the Brazilian real ($.286 – the ninth largest oil producer), or the Saudi riyal ($.27 – the second largest)?  There simply aren’t enough zeros on their currencies to sell anybody on the idea of getting rich quick from a revaluation.  Instead, they offer the Iraqi dinar at $.00086, or the rupiah with one more zero than the dinar, or the dong at $.000045, or the zim at ….. well actually it has no value but you can buy a 100 trillion note for about $70 online.

After that, the caller asks Jim about the dinar being a scam.  Jim’s response is that he feels that the sovereign nation-state of Iraq is going to survive, and in order for them to survive they need to have a viable currency.  He doesn’t define “viable” for us, but the implication is obvious.  The fact is, many countries are doing quite well with a currency that holds a low value compared to the US dollar.  I already mentioned Vietnam, but I could also mention South Korea (15th largest economy in the world) whose currency is valued about the same as Iraq’s.  China is the world’s second largest economy and their currency is worth about 15 cents.  Japan is the world’s third largest economy and the yen is worth about a penny.  Any suggestion that Iraq’s economy is being held back by their currency’s value is hogwash and unsupported by any real facts.  Iraq’s economy is being held back by Iraq.  Sectarian division, a history of war and tyranny, a terrorist organization occupying roughly a third of their country, a poor infrastructure, an economy based 90% on oil revenues with little diversity, and widespread political corruption are much more to blame than the value of the currency.
When the caller then asks Jim how the situation in Iraq is similar to what happened in Kuwait, stating that the Kuwaiti situation occurred in a total of about six months (and Iraq was liberated over twelve years ago), Jim states that from the time the Iraqis invaded Kuwait until they were kicked out was about 18 months.  According to Wikipedia the caller was much closer on this one.  It lasted from 2 August 1990 – 28 February 1991, or 6 months, 3 weeks and 5 days.  In Jim’s response he claims that the two situations were similar in that both countries were invaded.  (Kuwait was invaded by Iraq over a border dispute and the invading forces were removed six months later.  Iraq was invaded by a coalition based on Saddam Hussein’s unwillingness to honor his agreement to submit to inspections, and coalition forces remained for eight years and are still there today as advisors.)  How that is relevant I have no idea.  He then says that the IMF de-pegged Iraq’s currency and then devalued it.  Actually, the dinar’s value declined in the 1980s to the point that the zeros were added.  Shabibi himself stated this when he was in Washington in 2011 (start at 5 minutes in).  All you have to do is go to the CBI website and go to the history page and you’ll see that the dinar was valued at 3000 to the dollar as far back as 1995, eight years before Saddam was overthrown.  The IMF had nothing to do with devaluing the dinar.
Jim then claims that the US holds 4 trillion dinar (again, no evidence).  The caller then informs Jim that court documents show that the US isn’t holding dinar (not for investment purposes anyway … that was in point 15 page 5 in the DOJ document regarding the dinar fraud case against the BH Group back in 2013).  Jim recounts the story of a secret agreement from the Bush era.  (Bush has been gone for over seven years, guy.  And this agreement was supposedly from 2003!  Come on!!!)
Jim then states that the petrodollar is disappearing, and Iraq is the one place where you still have to buy oil in US dollars.  In fact, very few nations have attempted to venture away from the petrodollar system.  Iraq is the rule, not the exception to the rule.
The misinformation and/or disinformation provided in this call (Jim also talked about prosperity packages and claimed that we’re moving toward asset backed currencies) should be sufficient to stop any prospective client dead in their tracks, but this is hardly the only trust procurement company spreading such manure.  They all do it.  A few weeks ago I wrote about Adam Montana and Frank Buck doing this back in 2010, and it’s been going on ever since.  Maybe it’s time we turned our attention away from the revaluation scammers and instead focused on the “buy our stuff before the RV” guys.  Yeah, I think we probably should.
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April Update

Well another month another thirty days of guru BS and no RV.  I trust you all had a good Easter and are enjoying the warmer weather.  Marcus and I are starting to “market” the scam nature of the dinar investment on YouTube.  Below is the first video produced in this campaign.

Also, as many of you know I blogged about the dinar from 2011-2014. During that time somebody sent me some information about the site Dinar Recaps.  They gave me the owner’s name and told me that they paid the state of New Jersey $15 (I think) for the information.  I confirmed his name from a trusted source, but since I couldn’t link to it I never published the name.  I just posted a link to the state’s business lookup website.

Well today I am confident enough of this information to make a copy of the registration public.

Dinar Recaps Reg

You can download a copy of the registration here.  Dinar Recaps Registration

To read the research that I did on Dinar Guru and Dinar Recaps in 2013 click here.

That’s all for now.

 

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