Marko
April 15, 2011, 10:35am
1
Among the first thing the rebels did was to establish their central bank. What a surreal thing.
From: http://www.counterpunch.org/cockburn04152011.html
It seems that the rebels might actually be under the overall supervision of the international banking industry, rather than the oil majors. On March 19 they announced the “[d]esignation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.’”
CNBC senior editor John Carneyasked, “Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era.”
And something on the possible true sin of Gaddafi’s:
Ellen Brown, author of the terrific Web of Debt: the Shocking Truth About Our Money System and How We Can Break Free , wrote recently about the rebels’ sophisticated financial operations in the following terms:
“According to a Russian article titled “Bombing of Lybia – Punishment for Ghaddafi for His Attempt to Refuse US Dollar,” Gadaffi made a similarly bold move: he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gadaffi suggested establishing a united African continent, with its 200 million people using this single currency. During the past year, the idea was approved by many Arab countries and most African countries. The only opponents were the Republic of South Africa and the head of the League of Arab States. The initiative was viewed negatively by the USA and the European Union, with French president Nicolas Sarkozy calling Libya a threat to the financial security of mankind; but Gaddafi was not swayed and continued his push for the creation of a united Africa.
“And that brings us back to the puzzle of the Libyan central bank. In an article posted on the Market Oracle, Eric Encina observed: ‘One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned. . . . Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations.’”
As someone commented on Zero Hedge, “it’s everything for the people”.
Kakugo
April 15, 2011, 3:38pm
3
Yes, it’s pretty surreal, as surreal as the calls to provide financial aids to a region with substantial and well developed oil drilling facilities. When you throw in a Turkish ship carrying humanitarian aid being turned away by armed thugs in protest against NATO “not doing enough” it gets downright grotesque.
And about that “gold dinar” it really does sound like one of those Khadafi’s antics which are usually met with well-deserved skepticism. African dictators, “presidents for life” and friends of democracy have been very chummy with Khadafi as long as he was paying. If he had said he intended to send astronauts to the Sun they would have given thumbs up as long as they were getting cash.
Jeff Tucker blogged about the central bank a couple weeks ago…
But this is the even more disturbing news:
It is a worrying world we live in. The often infuriating fact is that despite knowing, or at least having a good idea, of what our leaders and the corporations are actually like, we can’t do much.
You mean “we” the public, or “we” people who understand economics and libertarianism?
I meant ‘we, the oppressed class’.
Marko
April 15, 2011, 8:53pm
8
Yes, it’s pretty surreal, as surreal as the calls to provide financial aids to a region with substantial and well developed oil drilling facilities. When you throw in a Turkish ship carrying humanitarian aid being turned away by armed thugs in protest against NATO “not doing enough” it gets downright grotesque.
Indeed, of course from the “rebels’” perspective it is truly “the worse - the better”.