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Mongo: I see you've watched the video or have had similar insights on the Federal Reserve. Nice to hear from pragmatic folks with thought-provoked insight.

DH: Why can't they have dissimilar values? It is a new note. If the news is true, they are cycling in a new set of notes and reclaiming all of the old ones. There is nothing that says that they have to be comparative in value just because they coexist. You can pay for your loaf of bread with a new $5 or an old $25,000. Clerk keeps your $25,000 note and gives $3.50 in new change. It's that simple. Don't get me wrong, I'm as hopeful as anyone else for my IQD being revalued prior to redenomination. But there is nothing in that article that would prevent both bills from being circulated at the same time while having different intrinsic values. FP

YW, Barbann. TMM touches on Jeckyll Island as it works forward through the history of the financial stranglehold to which we are all enslaved. Pretty pivotal point in US History, so it would be interesting to read more about it. While this video gives a lot of US financial history, it also deals with the interaction of wealth with war and politics in Europe as well. The broad-minded perspective really changes one's perspective on current events. Thanks for the rec. I'll check it out when I can! FP

I don't know which 'flavor' of God you were praying to, but the Christian variety says this: Matthew 19:24 -- "And again I say unto you, It is easier for a camel to go through a needle's eye, than for a rich man to enter into the kingdom of God." I'm never one to discount or criticize other people's religious experiences. This is just food for thought to do with as you will.

Redenomination and RV is going to be conducted by the CBI, which is not in the control of Maliki or the Parliament. The Central Bank of Iraq is in charge of this and to this extent, our financial futures. And if I am not mistaken, the CBI is a private organization, not subject to Iraqi laws or policies. If this is not correct, someone please tell me so. I just recently added a post to Dinar Rumors that was refiled under the wealth and investing forums. (Apologies to the administrators for posting in the wrong place.) If you are interested in understanding more about how central banks work and decisions such as RVs and redenominations are made, you need to read this post. http://dinarvets.com/forums/showthread.php?9272-The-Money-Masters. You'll see international financing in a whole new light. Let's all hope for an RV prior to the redenomination! FP

Everyone who is interested in understanding how governments are financed and how central banks operate need to watch this video, "The Money Masters". It's free to download and will be the best and most enlightening two hours you've spent this year. http://freedocumentaries.org/int.php?filmID=243 I bet that many of you don't know that the USA's Central Bank, The Federal Reserve, is not a government agency. It is a private bank, and the investors on that bank's ledgers are unknown as the records are private. Most presidents, senates, and parliaments do not control their central banks. Because of this, they don't really have complete control over their countries and the ensuing world events. Those who hold the gold are the puppet masters and world governments, including the United States, dangle at the bottom of the strings. Just because we can only see the stage, don't be fooled into thinking that the puppets dance by themselves. I was just reading Wikipedia about large-denomination US currency. (http://en.wikipedia.org/wiki/Large_denomination_bills_in_U.S._currency) I noticed that Woodrow Wilson was pictured on the $100,000 bill. Having watched "The Money Masters" documentary, I wondered how it came to be that Wilson was pictured on the largest denomination bill ever produced in the US. (You'll also be very interested in what this video says about the Great Depression). When you learn about Woodrow Wilson about halfway through the video, you'll understand why it piqued my interest. Watch the video and, when you've done your homework, give your insights. I don't believe everything I see, but even if this video is only 25% correct, it is still the most eye-opening perspective on world finances I've ever seen. FP

Do I misunderstand the Iraqi government? I am led to believe that the CBI operates independently of Maliki and, like the Federal Reserve, is an independent, private organization where the financiers have control over the exchange rate. How does Maliki have any control over the CBI? I am not well informed on Iraqi politics, so someone please correct me if I am misunderstanding. Thanks!

I, too, have a Warka account since 2007, and I have been generally happy with their service too. I opened my account at 11% APR compounded biannually (so my interest payments are ridiculously amazing!), and have a corresponding USD account. I can transfer $$ between the accounts at the going rate with my online access, and have done so in both directions (USD->IQD, and IQD->USD). I have never withdrawn any money and had it wired back to my account, but I have no reason to believe it would be any more difficult than it was to wire it in. On that note, wiring money does not go straight to Warka Bank. When I started, they had two or three bank accounts with other banks outside of Iraq. This kept the majority of their $$ in these safer areas while they maintained enough $$ in Iraq for operating capital. Now, they have many bank accounts around the Middle East and farther (to include an account at CitiBank NA, in New York, as someone referred to earlier). You wire money to the other banks with your Warka acct. number, and you are credited at Warka for the amount you deposit. I just used CitiBank to wire money in no less than one week ago, and my Warka account was creditied with the receipt of funds in less than 24 hours. The funds were then released for me to transfer to the IQD account no more than 24 hours after that. I'm just starting to explore their brokerage services for investing some IQD in the ISX. If I have any problems investing through them, I'll post my evaluation of their brokerage services here as well. Happy investing! FP

BTW, sorry for the typo, "DinarDed". Also, meant, "So, if you can shed any factual light..."

Folks, The story, "Iraq Planning Currency Redenomination" on Radio Free Europe is now 18 hours old and I haven't found it being picked up by the AP, BBC, or any other major news source. In today's news cycle, 18 hours is very old! How trustworthy is this source, and does anyone know of any other reputable new sources that have confirmed this story? Please, no screaming, "It's a LOP!" from the naysayers, or booing from the pumpers. Like Dinared, I shoot right down the middle. Skeptically hopeful, I think he said. I don't care about anybody's "IMOs". I want to make sound financial decisions based on facts. So you can shed any factual light on my questions, I am very interested in hearing from you. Pumps and LOPs can post as you please in the Rumors board. Thanks all! FP

Thanks for the info... as insightful as it may be, I would refrain from calling this 'news' as it is merely a blog from a trader on TMF. Any chance this poster has already bought ISX and is pumping it to increase his own personal gain? When did we stop thinking of news as unbiased and from a reputable source?

What makes anyone think that the larger denominations will coorelate in value to the new smaller denominations? A current $25,000 note might be worth a $25 new note. It is a different note that is not currently in circulation, right? So why would its implementation mean that it has to have the same comparative value to the ridiculously large denominations that are circulating right now?