mally2

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About mally2

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  1. Its a very old picture. These are the old 250 Saddam notes being collected for destruction.
  2. I'm guessing this is a generic stock photo and not even Iraqi currency?
  3. It sounds great. Things are moving but its still confusing mis-direction nonsense imo. JMO so dont shoot the messenger but I think hes saying that they have had trouble controlling the spread between the dollar and the dinar due to shady currency traders and speculators who want the dollar. Their two choices have been to allow the price of the dollar to go up due to this, ie the dinar drops in value on the street, or they blow through more of their foreign currency reserves getting more dollars on the street for sale. We all know neither option is appealing to them as both options hurt the value of the dinar in the long run. He says they are working on an option in between but that sounds like more of the same system with better controls, hopefully its not imo. Hopefully its a totally different system where the dinar is worth a lot more, more easily tradable around the world and more desirable. Then you wouldnt have such a demand for the usd.
  4. IMO it's just saying that the us dollar gets expensive on holidays when banks are closed and the usd isn't readily available, thus throwing off the bank/street spread of the dinar. They're changing up procedures now to combat this, those double auctions we've been seeing and other procedural changes to keep the street spread in check. It's good news, part of the reforms, but nothing to get too excited over imo