Thanks. My read on the news broadcast is that if Iraq turns 1000 Dinar into 1 Dinar, that will move the value of the new Dinar from the current Dinar up by three decimal places to $0.85 at that time.
Let's say we exchange each of our 1000 Dinar notes for the new 1 Dinar notes, which are worth 1000x more, and continue to wait, letting the dollar value of our currency conversion hold stable.
If the Iraqi currency can manage to appreciate on it's own after that from the $0.85 level to a historical level around $3, we could see a 3x gain (from about $0.85 to about $3).
It depends on how they run their show and how we run ours, but it may not appreciate that much. It might move like any other foreign currencies within a narrower band.
Looking at it that way, it won't make me rich, but I'd still be happy that I tried.
I won't ignore the news broadcast, but until it turns out one way or the other I can still simultaneously hope Iraq surprises us and makes us rich without tipping us to its generous policy move in advance, since everyone wants it to turn out that way anyway.
Still, it seems a lot of people have concluded that it has to happen the way they want it to happen, or the world would be doomed, so therefore that is proof.
I'll be cool with it either way. No choice.