Gold key to financing Gaddafi struggle

[Night Crawler]

Looks like MoMar has been listening to Randi, Thomm and Steph with their gold sponsors.

http://www.ft.com/cms/s/0/588ce75a-53e4-11e0-8bd7-00144feab49a.html#axzz1HGfs2GWN

The international community has hit Muammer Gaddafi with a raft of sanctions and asset freezes aimed at cutting off his funding. But the embattled Libyan leader is sitting on a pot of gold.

The Libyan central bank – which is under Colonel Gaddafi’s control – holds 143.8 tonnes of gold, according to the latest data from the International Monetary Fund, although some suspect the true amount could be several tonnes higher.

Those reserves, among the top 25 in the world, are worth more than $6.5bn at current prices, enough to pay a small army of mercenaries for months or even years.

While many central banks hold their gold reserves in international vaults in London, New York or Switzerland, Libya’s bullion is in the country, said people familiar with the country’s activities in the gold market.

Is it any wonder the price has spiked lately? Just wait until he dumps his stash to finance his war,talk about your bubble! Hooo Weee!

[gateley]

1. Holy cow! That's a lot of American Gold Eagles!

Welcome to DU! :hi:

[Art_from_Ark]

2. King George III paid his Hessian mercenaries with gold guineas

but he still lost the war.

[tuckessee]

3. America needs this gold to finance their wars. n/t