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Theory: Libya Attacked by US for its Gold Reserves


When NATO, the United States, and other allies began their bombing campaign against embattled Libyan dictator Moammar Gaddafi, they did so to destabilize the regime and support the rebels seeking freedom and independence.

The part that the West left off from the formal declarations was that the fight, as always, had more to do with gold, foreign currencies, and the desire of the western world to remain dominant financially across the globe than any humanitarian mission.

After all, there are civil wars and freedom movements across the globe. There are murderous dictators across the globe. Why this fight, this country, this time? Could it be gold?

CNBC reported in March that Gaddafi had amassed some $6.5 billion worth of gold reserves, and that's just the announced portion. He may have even more secretly hidden in stashes across the country.

Libya's assets were frozen as part of the assault on Libya, but the western world could not touch his gold assets, which are held inside Libya. Gaddafi reportedly has enough gold reserves to fund his army for years, if not decades, while he waits out the western forces.

Libya's formal currency, the dinar, has already been temporarily taken over by the rebel group. Amidst the chaos and uncertainty of war, it seems someone had the foresight to set up a new national bank and oil company. One does not have to be a conspiracy theorist to see how this is playing out like bad novel.

Is it any wonder that the people of the Middle East regard the Western powers as dangerous, money-grubbing evil people who will do anything to make a profit?

Even if there is nothing to the idea that Gaddafi was reportedly considering backing a gold standard currency in Libya (leading to the conspiracy-themed reason for the invasion), the appearance of impropriety here is huge and telling.

Posted-In: Moammar GaddafiNews Financing Forex Events Global Best of Benzinga


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