BlueJeanBaby

The Blaze.com has two shots of this photo: The one that was posted which sparked all the kerfuffle, and another that shows an original Getty Images watermark, making this an original. No Photoshop. http://www.theblaze.com/stories/is-embarrassing-photo-of-president-obama-actually-real/

Most of the Big Four banks in LA don't (Chase, B of A, Wells and Citibank) have foreign exchange teller windows. For that, you have to make an appointment with either a manager, or another employee that's the designated foreign currency person. I know, because I went to my local B of A branch a couple of months ago to sniff around a little and got some information from them about their procedures for foreign currency wire transfers. When I walked in and told the greeter what I wanted, she had me sit in the waiting area until someone from 'in back' came out to talk to me. This branch looked like every other branch with the usual teller windows, and then one merchant window set aside on one end. There was a 'booth' area for safe deposit box clients, but anyway ... that's my story, and I'm sticking to it. What I'd love to know is whether the O P's minister friend went back to the bank today and cashed in or not. Anyone ?? Anyone ?? No 'hmmmm' necessary. It's common today to be looked at funny when you ask them about the IQD. No one will touch them until they become recognized as currency for trade, which presently they are not. That sentiment doesn't mean this is a bad investment, or that it's a scam. It means that this currency isn't worth much against the USD right now, and so banks won't be making any money on them. That's why they won't deal in the IQD. Once the currency becomes viable, recognized on FOREX and becomes worth more than 1/0 of a penny against the USD, you can walk back into your bank and make the transaction. Asking about it right now is pointless. That's my story, and I'm sticking to it. GO RV !!!

Hey easy ... here are my arguments for your points, one by one: 1 - Paper notes need to be replaced anyway, because the average life span of your average paper note is around 18 months. Old bills are taken out of circulation, destroyed and replaced on a regular basis already by every country that uses them, so the cost of simply making new bills is negligible, and is part of the 'cost of doing business' if you will. If it was that expensive, then our own government wouldn't be doing it ... ummm, check that. Seeing as how this current administration seems to have zero economic know-how, that last statement may be a bit of a misnomer, but the fact remains that printing and minting the new currency isn't that costly, and will indeed be offset by the value of the new currency in relation to it's current value. 2 - For the cost factor, see #1. Regarding the concern for old bills to be 'smuggled' etc ... if the old currency is no longer valuable, tradeable or otherwise worth anything, then there's no risk because it's worthless. It's pointless for anyone to try and do anything with the old stuff because it won't be possible - seeing as how there's the new stuff now, because the old is OLD and no longer considered 'legal tender for all debts, public and private' (as it says on our bills.) Once the transition takes place, and the deadline for legally and officially using the old bills has passed, it's o v e r, and the old bills will be wallpaper, or T P or whatever else. 3 - The cost of explaining the new bills should be as much as it costs to run ads on TV and in the newspapers. "Hey folks, this is the old money, which has been worthless for many years now. This (show pictures) ... this is the new money, and it's not worthless anymore. You can now buy stuff with it all over the world because it's now recognized on the FOREX, and by banks everywhere. You can go to your local bank and turn in the old for the new, and then go forth and be happy. Any questions?" It's really NOT THAT COMPLICATED. 4 - Again, for the cost, see #1. Regarding the lost time waiting in the bank ... uhh, gee, well I guess everyone will just have to deal, unless they want to keep their old, worthless wallpaper in their pockets. The best thing they could do is have police or military on hand to do crowd control, and understand that this IS a huge, monumental, ginormous, reallyreally big thing that's happening, and to prepare for it as best as they can (which, in my humble opinion, is one of the reasons this hasn't happened yet ... but I digress.) 5 - That's why the US is there. We will help them with the transitory bumps in the road until they're stable enough to take over, and then our work (for the RV process) will be done. Of course, we will still need to be a presence for security and other reasons for some time to come. 6 - I think we've been in the midst of the 5-year thing for a while now ... but what they did with the Euro is a little different than what's happening with the RV (HUGE understatement.) Using the Euro for comparison with this process is pointless because it's not the same process to begin with. They took a dozen or so different currencies from that many countries and amalgamated it all into one - the IQD is nothing like that. 7 & 8 Again, all we (the US and Iraq) can do is prepare as best as we can for what may come, and take whatever precautions we can against fraud and other sinister stuff from happening. As far as people being followed after they trade in their currency, only a great fool would leave the bank with wads of cash in their pockets ... and as everyone knows, a fool and their money are soon parted. As sad as that sentiment is, it's also true, so if some fool leaves the bank with piles of cash and gets mugged, who's fault is it REALLY? Crime happens. Bad things happen! We have to be responsible, AS PEOPLE, for our stuff, so hopefully, personal responsibility is something that's being discussed, and people will take care to open accounts to put their new money into. In the event that someone is unable or unwilling to do that, I wish them the best. That's my story and I'm sticking to it. GO RV !!!

Welcome to the boards, Roy!! To chili ... dude ... you forgot to offer him a cookie. While I'm here for a minute, which is about all I can spare right now, let me inform you that reports of my demise are grossly exaggerated, I do live and breathe, I'm still walking the planet. As it happens, I find myself working 15 hour days driving around some VIP's (and these are the V'est of the V I P) in a big, shiny, black Escalade that looks like a Secret Service vehicle - smoked windows and all. I'm also known as The Driver among my friends - it's what I do. The pay is huge, which is the first, last and only reason I'm doing it, apart from the big, shiny, black tank that I get the pleasure of driving. I have witnessed with my own eyes lesser SUV's cowering in my presence, and it is good. A Ford Escape actually did the 'nervous pee' thing when I snuck up behind it at a red light and revved my engine, which cracked me up ... but I digress. The assignment will be up in a week, and I'll be back. Have a happy day, eveyone!! GO RV !!!!!

Where I highlighted your post in red is where I stopped reading. The loaf of bread won't cost ANY different AFTER the redenomination, than before the redenomination. The method of paying for it, however, WILL change. Yes, it makes sense to RD and RV, and I don't see why they don't just do both at once. "Hello, yes, this is your new money, and this is what you can buy with it now, since it's FINALLY WORTH SOMETHING AGAIN!! Sorry it took so long, but we did the best we could. Byeeeee." No, I didn't hear it from you first. I've been making numerous posts about that very thing for the past week or so. GO RV !!!

K but Legolas, a revalue DOES NOT remove the large bills from circulation. That's what re-denomination is for. Re-denomination PRECISELY DOES remove the large bills from circulation!! I know that I've been beating this drum for a while, and I'm going to keep doing it because IT MAKES SENSE! Reval and redenom go hand in hand. What's the point of removing the large bills and replacing them with smaller ones, without increasing the VALUE of the new small bills? Well, other than making it easier to carry around your cash and to buy things, not a lot because the bills are worth exactly the same BEFORE than AFTER. Straight redenom is all fine and well, but unless the VALUE of the bills changes, the people of Iraq are still going to be in the same position economically than they are before they redenom. You're right. It IS a very lengthy process, and it's never been done on this large a scale. with the entire world watching. RD without RV is pointless, in the long run, because it does nothing concrete to move them forward. GO RV !!!!!

EEK!! Really? Anyone think this is a real possibility? Of all the possible scenarios, that's one I hadn't considered. Anyone care to comment on that tidbit ??

That's the thing with private sites like this one: Management decides what they deem appropriate. If management decides that they don't like a word or a term because it's demeaning, or destructive, or hurtful, so be it. If someone is given fair warning to please stop using said word or term ... and they keep using it, how idiotic and ridiculous is it to complain about getting a consequence AFTER RECEIVING FAIR WARNING TO STOP. (Talk about arrested development!) If someone decides that they don't like operating within certain limits, rules or boundaries, they're free to leave. It's really very simple. GO RV !!!

*Grabbing my broom to swat away the ra ... I mean the seagull. Seriously ... WHY are you here? Since when do you know what's 'deep inside' or anyone but yourself? Your OP was nothing but propaganda. People have been making money on foreign exchange transfers for decades and decades - why should this be any different? It's LEGAL for the dealers to charge a fee, and if there are people foolish enough to pay ... then who's fault is it? Not saying I agree or support what happens then ... but SO WHAT! No one is being taken advantage of without their consent, so again ... W H Y are you here? You're not telling us anything we don't already know, and if you've been around as long as you say, then you KNOW IT. *swat swat swat* now shooo !

Stop that, Roger ... you're making me blush.

The scenario described in the original post (OP) only covers what happens when currency is re-denominated. OF COURSE the value doesn't change ... because it's simply a re-denomination, wherein they remove the larger bills from circulation and replace them with smaller denominations of THE SAME VALUE. The OP is not telling us anything new. The post being quoted has been posted here numerous times. All the hoopla over nothing ... literally. Not only that - but why come in here and be a seagull? Seagulls fly around, squawking and making a lot of noise, pooping all over everything, and then they fly away leaving confusion and chaos."THERE WILL BE NO RV" ... well, no, if you base your conclusion on the information in the OP alone, then it would look like the RV can't happen. Those among us who don't base our opinion and conclusion on that post alone, but who get our information from many other sources, will make different conclusions based on other facts such as: WTO won't allow Iraq to become a full member without a working government in place (which is happening), and without a currency that's viable and worth more than wallpaper. The WTO gave Iraq a deadline of 30 June 2011 to dot their i's and cross their t's ... which is actually an extension of the original deadline of 30 December 2011. UN Sanctions are being lifted today (30 June) which opens the doors for Iraq to be able to export their resources (which are vast, significant, and will bring them stability.) To re-denominate WITHOUT revaluation is ridiculous, pointless, and serves NO ONE ... well, ok, it serves the citizens of Iraq in one important way: It makes carrying around their worthless money easier because they won't need a huge wad of bills in order to buy milk, but that's about it. Their money will STILL be worth less than a penny against the dollar, and they STILL won't be able to spend it outside of Iraq because the IQD isn't recognized on FOREX or in any other country as currency open for trade. Without RV after RD, there's really no point in wasting the ink and paper to print the new bills. If Iraq wishes to become a major player in world economics, they need currency that is recognized and respected. No one will invest in Iraq or help with the rebuilding of their infrastructure (roads, schools, power plants, hospitals, etc) if they will only be paid in IQD at the rate it's worth today. The citizens of Iraq will still live in the hole they've lived in for 20 years. it might not happen today or tomorrow ... but it's imminent, based on what I have read. That's the thing about seagulls ... they're rats with wings. GO RV !!

Neither does your syntax. It's 'SENSE." Math makes no SENSE, since he did it wrong. You're welcome. GO RV !!!

I did read that Parliament is in session for a morning meeting, and that if they announce, it will be after that meeting. In my travels, I have found that when you are about to give up on something that is meaningful to you ... THAT is when you have to gather your strength around you and remain steadfast. I said that in another post in a different thread, so at the risk of becoming redundant, I'll say it again here. Just keep positive, and don't give up. Iraq has done WAY too much towards this end, for it to never happen. Keep in mind that this is history in the making, and this monumentally huge thing has also never happened before with so many eyes watching. I wouldn't give up now - NO WAY. GO RV !!!

Well ... I actually read the chat and, seeing how fast it moved and how well Bumper and Adam worked together, and since Bumper was THE BOMB, I'm showing respect and appreciation to Bumper by bowing and curtsying (although you can't really see the curtsy. I have a bad knee, so it's more of a head-bob than a full curtsy). GO RV !!!!!!

Imagine living in a country where your money is worth X amount (doesn't really matter - for the purpose of this explanation, go ahead and fill in the blank with whatever figure you like.) The economy in your country is relatively stable (for the most part), when suddenly, your country is thrown into war, and your money now buys A LOT less than it used to. Let's say that your dollar used to buy a loaf of bread, but now, because the economy of your country has collapsed because of the war, your dollar can no longer buy a loaf of bread. Now, since your dollar has been devalued, you need 1000 dollars to buy a loaf of bread. Multiply that by 20 years, and that's what the people of Iraq have lived by. So, when their currency revalues, it will be WORTH MORE, and they'll be able to BUY THINGS with it again. Not only that, but because the UN sanctions for trade are being lifted tomorrow (30 June 2011), they'll be able to export things again, and to trade again. HOWEVER, lifting the sanctions is all fine and good ... but without currency that has buying power, it's futile. Not only that, but the WTO will not give Iraq full membership without a currency that is recognized world wide as valid, or without a government in place. By the way, the deadline on the WTO extension that they gave to Iraq to complete all the steps to become a full member of the WTO (for which they first applied in 2004) just also happens to be 30 June 2011. Not only that, but no one will want to invest in Iraq and help them rebuild their infrastructure (roads, schools, hospitals, power plants, phone lines, oil wells, etc) and give them assistance with other economic development if their currency is worth what it is right now. Unless they give their currency more VALUE by the RV, none of these things will happen, and the citizens of Iraq will continue to live in this hole. They won't be able to open a business, buy or sell stuff on ebay (most don't have access to the internet to begin with but that WILL change once they build new power plants and people are able to BUY things again), buy homes and cars, etc ... but right now, with money that's worth less than a penny against the USD, they're stuck utterly. Now, one other thing to consider is that, if they do revalue their currency, they will also need to do away with the larger denominations (like the 25,000 notes we all hold.) THAT is why they must also re-denominate, but I think the re-denominate must go hand in hand with the revalue. To do one, without the other ... I can't see it happening. The re-denomination won't affect us over here that much, because since we don't live in Iraq, we can't spend the big bills anyway. For me, it's RV or bust. However, if they do announce a re-denomination officially today, that can only mean the RV isn't far behind IMHO. GO RV !!!!