“While most of the establishment press in America has been silent on the issue of Gadhafi’s gold dinar scheme, in Russia, China, and the global alternative media, the theory has exploded in popularity. Whether salvaging central banking and the corrupt global monetary system were truly among the reasons for Gadhafi’s overthrow, however, may never be known for certain — at least not publicly.”
“A Gadhafi-driven gold revolution would have, however, imperiled the positions of central bankers and their political and media power-brokers.” Alex Newman
Gadhafi’s Gold-money Plan Would Have Devastated Dollar
by Alex Newman
November 11, 2011
It remains unclear exactly why or how the Gadhafi regime went from “a model” and an “important ally” to the next target for regime change in a period of just a few years. But after claims of “genocide” as the justification for NATO intervention were disputed by experts, several other theories have been floated.
Oil, of course, has been mentioned frequently — Libya is Africa‘s largest oil producer. But one possible reason in particular for Gadhafi’s fall from grace has gained significant traction among analysts and segments of the non-Western media: central banking and the global monetary system.
According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.
And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts. French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan.
“Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world’s central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power.”
According to Wile, Gadhafi’s plan would have strengthened the whole continent of Africa in the eyes of economists backing sound money — not to mention investors. But it would have been especially devastating for the U.S. economy, the American dollar, and particularly the elite in charge of the system.
“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence,” Wile noted in a piece entitled “Gaddafi Planned Gold Dinar, Now Under Attack” earlier this year. “Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.”
© The New American Magazine. All rights reserved
* Image reference:
Copy of dinar of the Abassid Caliphate 774, photographed by PHGCOM at the British Museum in 2009
Disclaimer: The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of CanadaNewsLibre. The contents of this article are of sole responsibility of the author(s). CanadaNewsLibre will not be responsible or liable for any inaccurate or incorrect statements.
The CNL grants permission to cross-post original CanadaNewsLibre articles and videos on community internet sites as long as the text & title are not modified. The source and the author’s copyright must be displayed.
http://canadanewslibre contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
ↄ⃝ Copyleft CanadaNewsLibre 2011