Arizonaheat] To LOP or not to LOP This question seems to be popping up more and more. I for one am of hearing it. There will not be a LOP, and I have good reason to think this way: If Iraq was going to LOP, why would they be taking the time and effort to remove the three zero notes off the street? If they wanted to LOP, They could care less about those notes, and replace them with another currency.
That would also mean that every single account in Iraq would be worth nothing. If they did that, so are they going to zero out everyone’s accounts in Iraq to zero? Iraq stated the wanted to introduce new currency to equate the US system such as 100 dollar notes, or 100 dinar notes, making new currency they don’t have yet.
The dinar you and I hold was set up by the coalition forces, we are the ones who paid for it to be printed, and we designed it. The central bank of Iraq created the artificial system, with the auction floor to create the value of the dinar, they didn’t have that before.
Their budget is based upon the dinar as it stands now. To LOP the dinar, all of that would stop, and have to be redoing the budget as the budget is based off the value of the currency auction floor. So- no LOP.