radiotom I have been a member here for a while but generally lurk. Today I have been surfing around trying to find some sanity. Your post describes "the plan" exactly as it has been described to me by my contact in Baghdad. He calls it "divide by 1000" and eventually bring it up to 1:1. When we first began communicatiing in January, he thought this was to happen very soon. I have since learned that there was a lot of discussion about deleting the zero's on 2010 and that it was orginally planned to be done by the end of the year. When it had not happened by early March, he contacted his friend who recently retired from the CBI. The friend told him that the plan was on hold. He now says that the plan is back in the news and that the Iraqi's understand that a 25k note now worth $21.25 USD will be exchanged for a single 25 note.......still worth $21.25 USD. It is revenue neutral. They loose nothing. They gain nothing. However, a huge number of the overabundant dinars are taken out of circulation but the value of this in circulation is maintained. He adds that after the public becomes accustomed to the change and the economy improves a bit, the value when compared to the USD will be raised to 1:1.
Everywhere I have shared this information I have been told that the Iraqi's do not know what is happening and that is he simply misinformed. I hope he is but I can not rule out the possibility that he is not.