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libyan dinars

“This suggests we have a bit more than a ragtag bunch of rebels running around and that there are some pretty sophisticated influences. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” Wenzel writes.”

In case you haven’t heard, Obama has signed an order for the CIA to get involved in Libya. Has he never heard of Viet Nam, Afghanistan or IRAQ? The money will support the over throw of the Libyan government, then the excess supplies will be used against the United States. The CIA supplied the Afghan rebels who got rid of the Soviets. Then the Taliban used our own weapons against us. There are several news items indicating Al Qaeda is or will soon join the Libyan revolt, so the United States will be funding the same people supposedly responsible for the 911 attacks. Will Obama offer to cut out the middle men and ask Al Qaeda what sites they want him to attack in the United States so they don’t have to do a lot of unnecessary planning?

Why are we in war with Libya? Simple answer: oil, establish a Western controlled central bank, and protecting Israel. Indeed, USA-Israel are behind all the problems in the middle east lately, no doubt about it. Kadhafi was, not longer ago, apologizing for his past behavior and USA was shaking his hands. At that time he was the same ruthless dictator but it was okay with the USA. So, this coalition of the willing (Heard that before?) that we are including ourselves are no more than smoke screen. This rebellion is fabricated for a purpose. We would not be surprise to see many mercenaries working as rebels in Libya. Now, with a good excuse to once more bomb the hell of a country and again kill thousands of civilians and in the end, more oil and one less enemy of Israel. I did not see our government run to help thousands of African people being slaughtered but they did not have oil and they were not a threat to Israel. Wars are not the way of the future. Economic deals and trade are. China did not need to go to war to be what it is now, also Brazil is booming and the country don’t get involved with the empire mentality of the USA.

Since many do not know the difference between a state central bank, and a private central bank, we are doing that research first here. Indeed, the US had a state central bank until 1913, when it transferred power to a private cabal of banks which became the Federal Reserve. Libya has a state run central bank, which has complete control over its currency. The new central bank, created by the ‘rebels’ in Benghazi, is controlled by private banks, particularly European ones.

Why central banking in Libya?

The rebel group known as the Transitional National Council released a statement last week announcing that they have designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya, and that they have appointed a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi, according to Bloomberg.

Robert Wenzel of Economic Policy Journal thinks the central banking initiative reveals that foreign powers may have a strong influence over the rebels.

This suggests we have a bit more than a ragtag bunch of rebels running around and that there are some pretty sophisticated influences. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” Wenzel writes.

The simple fact is that we are now under the governance of the NEW WORLD ORDER, the UN, who it would appear to have the ability to take the U.S. and Canada to war, and without the peoples consent, who will of course have to pay for it all, again.

Again, no rebel force against their own nation has created a central bank in the middle of a rebellion or revolution. To do so in 2 weeks time, gives STRONG credence that the rebellion was originated, and backed by foreign powers for the express effort to do so, and control the oil.

Libya is one of the last 4 nations without a private central bank: MSNBC

Libya has been one of the last nations in the world that had its own state run banking system, and control over its own money supply. By having this system in place, they could demand oil purchases from their oil fields to be made in Lybyan Dinar, and not the US Dollar. It also means that Libya has ensured themselves a stable economy, with little inflation and currency devaluing as most of the industrialized world has under private central banks. Source: Examiner (2)

How about the oil?

Libya is the largest oil economy in Africa, ahead of Nigeria and Algeria. It holds at least 46.5 billion barrels of proven oil reserves (10 times those of Egypt). That’s 3.5% of the global total. Libya produces between 1.4 and 1.7 million barrels of oil a day, but wants to reach 3 million barrels. Its oil is extremely prized, especially with an ultra-low cost of production of roughly $1.00 a barrel.

When Gaddafi threatened Western oil majors, he meant the show would soon be over for France’s Total, Italy’s ENI, British Petroleum (BP), Spanish Repsol, ExxonMobil, Chevron, Occidental Petroleum, Hess and Conoco Phillips – though not for the China National Petroleum Corp (CNPC). China ranks Libya as essential for its energy security. China gets 11% of Libya’s oil exports. CNPC has quietly repatriated no less than 30,000 Chinese workers (compared to 40 working for BP).

For its part Italian energy giant ENI produces over 240,000 barrels of oil a day – almost 25% of Libya’s total exports. No less than 85% of Libya’s oil is sold to European Union (EU) countries.

So a who’s who of profiteers of the – in theory – UN-sanctioned US/North Atlantic Treaty Organization (NATO)/Arab League military operation in Libya has got to include European Union and Anglo-American Big Oil. Not to mention Wall Street – think about those billions of dollars of Libyan financial assets deposited in Western banks, and now confiscated; and of course US/EU weapons producers.

The Empire seeks to achieve and to maintain world hegemony, NOT… FREEDOM AND DEMOCRACY, and we are part of it.

We are at war in Libya because the Empire considers that war can best serve its interests in a whole region of the Globe said patronizingly to be alien to FREEDOM AND DEMOCRACY (“that’s not in their nature, is it? it’s not in their genes…”). The Empire would rather have civil war in Libya, in Egypt, in Tunisia, in Yemen, in Jordan, in Algeria, in Morocco, in Bahrain, etc. than have FREEDOM AND DEMOCRACY there. Polls and studies have shown that the people of the region are “enemies” of the Empire (of the world hegemon), given they overwhelmingly consider the Empire as the greatest threat that exists in the world today.

References:

(1) MSNBC

(2) Examiner

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This entry was posted on Thursday, March 31st, 2011 at 3:04 pm and is filed under Africa. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1 Comment

  1. March 31, 2011 @ 5:43 pm


    Interesting post. I read somewhere that Italy is the main European beneficiary of Libyan Oil.
    Ironically Sirte , Qaddafi’s hometown , is Arab Capital of Culture this year!
    The sooner this planet gets off it’s addiction to oil the better for all humankind.

    Posted by Robert latchford

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