So ... Nothing substantial as of yet, August 9th 2010. What's Next? and will we see anything happen soon? We want just the facts and we don't care who you know or who you think you know. Super confidential information is only obtained by those who Need to know ... again, Just the facts Mam, Just the Facts...We know there are a few things the world has been waiting for:
It is interesting to note that exactly one year ago, during August, The IMF allocated SDRs to countries around the world. What happened with that? Nothing yet... but, if my suspicions are correct, when the IMF decides to adjust the SDR rate, which is every 5 years and it just so happens that by the end of 2010 the IMF is due to update the SDR rate, countries will be sitting on the SDRs which were allocated to them. I suspect that with the new SDR and the new currencies in that basket .. (suspicion tells me that an asian currency will be added to the basket) the countries will be financially in a better way.
Around November 2010 begin to expect the following - IMF SDR changes with a January 1st 2011 implementation. **This could be the most important event to kick start the new global economy ~
Snip~ The basket composition is reviewed every five years by the Executive Board to ensure that it reflects the relative importance of currencies in the world's trading and financial systems. In the most recent review (in November 2005), the weights of the currencies in the SDR basket were revised based on the value of the exports of goods and services and the amount of reserves denominated in the respective currencies which were held by other members of the IMF. These changes became effective on January 1, 2006. The next review will take place in late 2010.
What else are we waiting for?
(not sure if this date is still in effect but ...) August 15th (which is one month after Iraq's president is supposed to be elected and is the one month deadline for the new Prime Minister to form a government ~ link
Iraq and Egypt ~ Egyptian consulates to be opened in Irbil, Basra ...new president of Iraq to be elected on July 14th ... snip from above - "In response to a question about the time limit for the formation of the Iraqi government, said Abdul-Mahdi: The new Iraqi president will be elected on 14 July and will cost the prime minister to form a government within 30 days in accordance with the Constitution and describe the role of the Arab League on the formation of this government that he was positive and understanding"and if there isn't formation of a government ...
We might have to wait until September 10th after Ramadan, which is from August 11 until September 10th? When is Ramadan 2010? Ramadan, the greatest religious observance in Islam, is an annual month of fasting. What are the dates for Ramadan in 2010? Answer: Ramadan is expected to begin on or around August 11, 2010 and will finish on or around September 10, 2010.
and if still nothing ...
We have the G20 on November 12th. This G20 meeting is said to be "the one" - link ~ November 11-12 ~ G-20 Summit, Korea will set ‘Seoul Initiative’
and if still nothing ...
This is taking it to the end of the year, which would be in character of what to expect from Iraq and their 11th hour. December 31st ~ link IRAQ - SECURITY COUNCIL EXTENDS DEVELOPMENT FUND FOR ONE MORE YEAR (IT'S A GOOD THING) ...snip from above ~"During the remainder of 2009 and in 2010, we will take action to recover the international financial standing of Iraq while at the same time managing oil and gas revenues in order to benefit the people of Iraq"
Note: If Sunni insurgents decide to make their comeback as they have stated, Iraq will have a long wait before sanctions are lifted - The Shia majority in Iraq have been a main target of Sunni Arab armed groups since the US-led invasion of 2003 toppled now executed dictator Saddam Hussein's Sunni-dominated regime ...
So, Mam, What is needed for economic change in Iraq?
*Iraq's government must be seated.
*Iraq's country must proove to be stable and;
*Iraq's security needs to improve before the United Nations will lift sanctions imposed on them (chapter 7);
*Iraq must commit to all UN mandates especially those related to Kuwait and other nations that are owed money.
related articles ~
Where are we now? The Iraq Quandary ... continued ... What's the Hold up? Could it be a "Global" thing? continued... Link ~ JULY 1st WAS LOOKING GOOD ... A FEW THINGS TO LOOK FOR ...
