Just finished listening to the phoenix show and he states there is not going to be a lop but they are simply going to pull all the larger bills (those with 3 zeros) out of circulation (as we know from the news). That is not a lop, he says and compares it to how the U.S. pulled it's larger bills out of circulation (most recently in 1969, they called in the last remaining 3 zero currency, $1,000 bills, and then after a period of time they became worthless as currency. But the value of the US dollar did not change when they did this). A true lop, where say $1,000 is deemed to be worth $1 (or whatever currency you are talking about) is done by a country when there is great inflation and where their currency has little real value. This is not the case in Iraq since, as we all know, they have huge wealth in their oil, natural gas and water. With the revaluation, Iraq will really just allow it's currency to be valued based on the resources of their country instead of being artificially pegged at a low number like it has been.
He also pointed out, and I have been thinking the same thing, that since they are reissuing new smaller denominations of currency, and since their currency now has so little value (like 1/10 of a US cent), that it implies there must be a revaluation coming. For example, if an Iraqi wants to buy a $20,000 car, it would take some 20 million IQD. That's just way too much currency if you have to do it all with 100's and 50's. The Iraqi government wants to help their citizens, not make their lives more difficult, so it only makes sense that they also plan a revalution concurrently when they issue the new lower denominations.
You gotta think the RV is coming. Of course, nothing's every a sure thing...... But this line of thinking really makes sense and I think we well finally see that RV really soon.
I really like that phoenix guy. He's a sharp cookie who seems to know a lot and he's into the metaphysical side of things as well....my kinda guy!
GO RV!!![/size]