I'm newly registered here, but have been quietly lurking for a while now.
Someone just posted a article in the News section here:
The last sentence in what was posted worries me: "To that, the central bank adviser appearance of Mohammed Saleh, said that such fears are unwarranted, and that the economic situation in Iraq is good and able to withstand application of this project, and that this experience had previously been applied in countries such as Turkey, which has deleted six zeroes from the currency before the period is not too distant future."
That sentence is, without a doubt, talking about a LOP, not about removing the zeroes from the 0.00086 conversion rate. These are past conversions for Turkish Lira (taken from Wikipedia - http://en.wikipedia.org/wiki/Turkish_lira ):
2004 — 1 U.S. dollar = 1,350,000 lira
2005 — 1 U.S. dollar = 1.29 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency Turkish Lira, was implemented in 2005)
Turkey moved the decimal on their currency to the left 6 places in 2005, and it looks like Saleh is trying to get Iraq to move theirs over 3 places in the same manner. Now, I'm hoping that they don't end up going through with this and we get a straight-up RV just like everyone else, but it's pretty clear to me now that the "lifting of the zeroes" is referring to a LOP. If they end up doing a LOP and an immediate RV, it will be a bit of a let-down, but I'll take the extra profit anyways.