Skip to comments.A Big Pot of Gold in Libya Could Finance Gadhafi's Long War
Posted on 03/25/2011 10:27:57 PM PDT by smokingfrog
As the international military forces are descending upon Libya as we speak, some people have dismissed Libyan leader Moammar Gadhafi's vow of a 'long war to victory' delivered via a telephone call to state television on Sunday, March 20. After all, many military experts have suggested that Gadhafi's days are numbered since the number of soldiers loyal to Gadhafi could be fewer than 10,000.
Moreover, US and European governments have imposed sanctions and frozen Libyan assets worth billions of dollars, including the central bank, sovereign wealth fund and state oil company cutting off funding for further support activities....unless Gadhafi has a hidden pot of gold or two somewhere
As it has turned out, the 'long war' threat from Gadhafi may not be as emply as some might think. Financial Times on March 21 cited data from the International Monetary Fund (IMF) that the Libya holds 143.8 tonnes of gold (see table), but some say the actual amount could be several tonnes higher.
Instead of vaults in London, York or Switzerland, Libyan bullion is in the country held by its central bank, which is under Gaddafis control. However, Financial Times noted some believe that the gold reserves may have been moved from the central bank in the capital, Tripoli, to another location such as the southern city of Sebha, close to the borders with Chad and Niger.
According to FT.com. international banks or trading houses are unlikely to transact anything with Libya at this moment, let along gold, but there still could be other interested counterparties for a swap of arms, or cash. So, Gadhafi could conceivably transport the gold to Chad or Niger, where the gold could be swapped.
Libya's gold reserves, ranked No. 23 in the world, ahead of Saudi Arabia, as of December 2009
(Excerpt) Read more at oilprice.com ...
You got a contact number?
Cause we're not seeing much work here.
Tell ya what. If he is holding that much in gold they are gonna have a hell of a time getting rid of him. Do they have any idea what some of those countries would do for gold? He could hire an entire army for years to come.
All that gold sure didn’t buy the ugly sucker any good looks. Gadhafi’s one spooky looking critter. Fugly ugly.
take the gold , take the oil and use their seized funds to pay our costs for taking Daffy out
4,597,557 troy oz. @ $1,400 per oz. = $6,436,579,800 dollars.
That might last awhile.
Lepregaddafi! Don't try and steal his pot o' gold or he'll curse you!