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Gadhafi and The Hidden Pot of Gold in Libya
By Dian L. Chu, EconMatters
Speaking through a telephone call to state television, Libyan leader Moammar Gadhafi delivered quite a defiant tirade on Sunday, March 20 vowing a 'long war to victory' and pledged retaliation against the international military action descended upon Libya. Many military experts have suggested that the number of troops loyal to Gadhafi could be fewer than 10,000, and argued that Gadhafi will not last long at all.
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 Gaddafi’s 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 (see table above), are worth around $6.5 billion at current prices, enough to finance Gadhafi's defense against opposition and international forces for quite a while, to say the least. Furthermore, Gadhafi may have some other assets stashed in 'untraceable' places.
Gold prices has been rising and hit a record of $1445.70 on March 7 primarily driven by safe haven demand in the midst of continuing chaos in the Middle East, the crisis in Japan, weak dollar and rising inflation. If Gadhafi somehow finds his way to cash in on this pot of gold and make good on his 'long war' threat, it would only further gold and oil’s upward cause. And by the way, Goldman Sachs just put in a fresh gold price target of $1,480 within three months.
Related Reading - Crude Oil and Gasoline Could Spike from Gadhafi's 'Long War' in Libya
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How much security would a convoy of gold bullion into Chad or Niger require? And wouldn't that convoy be readily apparent to the spooks watching from up high? I don't believe that Gadhafi, or any of his aliases, can move the gold in any large amounts.
ok. let me understand. so the hofjuden print, sorry, bang out digital credits out of their hofjuden keyboards, and then, once the oil is/was delivered, the worthless digits are confiscated by the same conniving hofjuden? That's what I want to know.
I don't hang around with anti-semites. Dare I ask. What the hell does "hofjuden" mean?
http://en.wikipedia.org/wiki/Court_Jew
"I don't hang around with anti-semites."
If you hang around here, you will be.
its a german word that roughly means "jewish banker"
I'm not saying they definitely were, but what if the Germans were actually right?
Same thing as "hofjudenrein" perhaps?
Is this going to be some kind of soap opera? Most of the Libyan population is right along the Mediterranean. This skirmish should be over. They know where K-daffy is. One drone, BOOM.
Why the "unnecessarily slow dipping mechanism?"
Then we can send a drone and BOOM to Hugo Chavez, then Fidel Castro, then Ahminejad and anyone else who refuses to bow to our power
so that is what the cruise missles are all about in tripoli????
blow up his gold?
seems to be our solution for everything?
Each cruise missile has something like 15kg of silver in it.
Point . . . Silver!
whaaat? what cash? hofjuden confetti? That's what I want to know.
Rrright. That's what this zionist war is all about. The hofjuden want the gold they cannot eat. There will be more "no-fly-zones" because the hofjuden want that gold.
Anyone who opposes the invasion of Libya is a Nazi?
ITs amazing people how cinical you are,Qaddafi now representing your freedoms,once it captured-forget about your gold coins,silver and hidden under matraze dollars,the special Search Team under CIA of FBI(is it matter for you) will be in search for hidden gold of Gaddafi sons and YOUr holdings would be it,no one will talk to you because you will have no money defend yourself,sent into Guantenamo seating under water in the box you will for long time refresh in memory how you were laughing over this open crime.Every nation should have right decide about its future,USA established itself as world police and Bandit,as result seat in your morgage houses and drink your coca cola if your morgage let you do so and wait for search.How stupid you are,your kids gonna be blown up because Obema hunger for gold and oil via its monopolistik friends who allready charging you price oil they wanted,people losed today sense of the simple condolesence,all became gold and money,Shame of you "good boys"
you've got to be kidding me? Really.
WINNING
Bullish for gold. There is a lesson here for every pip squeek dictator about trusting his or his country's cash to banksters anywhere.
I'm actually pulling for the dumbfuck now to make the US and Britain look like schmucks.
Go ahead, burn those tank farms and refineries to the goddamn ground, see how long we can stand $6.50 gasoline.
Let's drive this motherfucker off a cliff.
No shit...
I hear you and couldn't agree more (although that is really fucked up to side with this asshole)
KAY-DAPHY is one greasy piece of shit...but he ain't got nothing on the disgusting motherfuckers that work on Wall Street, or the big central banking cartel dickheads in London and New York (and sure as hell is not as evil or misguided as our own lying sack of worthless shit we call the POTUS.)
Why is it I always find myself on the sides of these degenerate assholes...just hoping that one of them will really punch the shit out of the "western powers" one of these times...so maybe we will finally learn or fucking lesson and stay out of the middle east - or anywhere that is not an ABSOLUTE and CLEAR threat to our actual exsistence.
Furthermore...with 45 million on food stamps here in the states and at least 20% under and un-employed...I'd say we have our hands full her fighting the war on hunger and poverty and don't need to get our ass in any more foreign entanglements.
This is nothing but another money making and resource grabbing venture for those who are already have so goddamn much money any power they will never be able to spend or use it all...
You won't have to wait long.
Obama apparently wants to hand over command to the Europeans. They don't want the hot potato. There doesn't appear to be a long term strategy to remove Qaddaffi. All he has to do is just chill in the bunker and he wins while Arab street opinion comes around to his side.
Which it will.
Meantime, the Gold and whatever else he's got is just sitting there.
This is about Daffy's resources and his gold. Period. That's why they went in just as he was about to win.
Aside from the Gold, was there a new oil strike in Libya or something? There has to be a reason the Poodle ordered our men to do this.
I made a prediction on another forum and I stand by it: by June Daffy will be making direct to Al-Jazeera videos of him chillin' in the Bunker with the Ukrainian Nurse, mooning Obama and watching the NBA Finals.
You heard it here first.
"was there a new oil strike in Libya or something"
Libya has only tapped a portion of their proven reserves. There is untolled amount of unproven reserves. "Libya remains largely unexplored with vast oil and gas potential." http://www.mbendi.com/indy/oilg/af/lb/p0005.htm
Btw: Afghanistan was about resources (lithium, etc.) http://www.nytimes.com/2010/06/14/world/asia/14minerals.html & http://www.youtube.com/watch?v=-WTMPItGHPo
The Ivory Coast and Yemen have oppressive dictators killing their own people. Yet, we aren't imposing no-fly zones on their countries....This is entirely about prime resources.
I am with you brother. I hate that worm-lipped mother fucker but he does need to spend that gold on destroying everything the Rothchilds want. Burn baby burn. One big dirty beach. Over the cliff, mercy killing.
I am too. GDSOB's can go spend hundreds of millions blowing people and shit up in some friggin desert, but can't give seniors a two bit bump on their monthly social security check. Die in a fire you pricks.
One $27 million F-15 up in smoke.
http://www.csmonitor.com/USA/Military/2011/0322/American-F-15-crashes-in...
Anything less that $100 million is a rounding error.
I too am against ANYTHING this criminal government does. It is so far off the track now. Impeach Obama........ oh, I guess now I'm a terrorist. A guy coins his own gold to save himself from Bernanke like the Constitution says and he goes to jail..... but Obama gets us into a 4th war without Congress approval and that is JUST FINE. Amen. Drive it off the cliff. I would move out of this country but I'm pretty sure any American outside the U.,S. will be seen as a hated targed, if they are not already.
Move out of the country...Life's good abroad.
I live in Southeast Asia. Vietnam to be exact (Thailand is nice too). I'm not hated. The food is delicious, the countryside beautiful, the people friendly, and the women beautiful. I earn an American wage and money goes a lot further here. Every month I convert a portion of earned fiat currency into gold and silver.
I am waiting for the collapse of the dollar (any day now). If I should decide to return to the United States I have guns, ammo, gold & silver, and 2 months of food waiting for me for the worst case scenario. If none of that comes to pass (i.e. economic collapse), well at least I can say I was prepared. "Plan for the worst, hope for the best, and you'll probably get something in between."
In the mean time, living as an ex-pat ain’t half bad.
If it gets to a point where he knows they are going to hang him like they did Saddam he should melt all his gold into little dime sized coins and distribute all of them all the the poor with his image on it as a final fuck you the the Powerz. That would piss them off so much it would almost make the noose not seem so bad and maybe a million poor people might come out with pitchforks to save his ass in the eleventh hour. Doubt he would do this. He'll get hung wishing he did though.
It would have to be sand rakes, not pitchforks. You can't pitch sand with a fork.
Oh, a wise guy, eh? Nyuk, nyuk nyuk!
that would be brilliant
...sigh...
i found it interesting that the US has 68.70% of its national reserves in gold. What's the rest in?
FOOD STAMPS...........!
Food stamps.
Raiders of the Golden Kaddafy Duck!
What if the custodian has been selling it all? Chunky change for anyone so bold.
Maybe the banks want this stuff to enter the market via back door channels - Increased African Gold production ?
This may cool the price for now.
Given the still low dollar price of Gold he cannot hold it for long if he wants to continue a war of attrition.
He has to hold out two more weeks and the Euro is toast. The US knows this and that's why it can't wait to hand this hot potato back to the midget sarkozi.
so the longer he fights the more the price of gold will rise which will enable him to hold out longer? Could he prolong this war long enough so that Obama can hand it off to his successor?
Ghadafi = Leprechan ?
He's not dumb enough to trust your bankers. Who finds that surprising?
"Freeze these assets, Bitchez!"
Uh, the banksters knew about his gold haul before the shooting started?
Things begin to clear now.
Wonder what else he has?
Is this why Finland pledged 4 aircraft?
All 4?
Canada pledged sub marines with screen doors as well
Maybe the Russians will sell him a fully equipped aircraft carrier so he can duke it out with France in a fair fight.
So... buy Gold? No thanks, I'll be safely invested with silver instead.
That sucks we aren't gonna find any of his gold! At least we'll get our oil back -Italy and France's I mean...
You'll be happy to know this war runs on silver too!
Muommarr Gold-haffi.
How many ways can you spell this son-of-a-bitchez' name?