Rumor Gadaffi Making Preparations To Leave Libya Sends Oil Lower

Tyler Durden's picture

From the BBC: "Libyan sources have told the pan-Arab newspaper al-Sharq al-Awsat that Col Gaddafi has turned to the rebel Transitional National Council to secure his departure from the country in return for guaranteeing his and his family's safety. He sent a negotiator on his behalf to Benghazi and made handing over power before Libya's parliament, the General People's Congress, his condition, the sources said." If confirmed, look for oil to drop substantially. However, since this is almost certainly the latest totally bullshit rumor in a long string of market manipulation attempts, any drop in commodities should likely be BTFDed with a vengeance.

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r101958's picture

So, another Gaddafi rumor intended to manipulate markets?

TradingJoe's picture

Yep! And by the way, it is not about Libya any more, its about SA!!! Thats the big stone!

Azannoth's picture

with 50B(or so) in the bank he has finaly realized that he has more to loose than to win by staying, duh took him long enough

Sudden Debt's picture

I think he bought the left wing of the White House with that money.



Cpl Hicks's picture

So what you're saying is that he bought the whole thing, right?

Mad Max's picture

If I had $50B I sure wouldn't bother running a country.  And less so a country that was trying to kill me.

breezer1's picture

head of state and all that means he can pitch his tent in a lot of backyards.he stays because he thinks he is king.

Oh regional Indian's picture

MM, this quote from Duneis favourite of mine, kind of explains things:

All governments suffer a recurring problem: Power attracts pathological personalities. It is not that power corrupts but that it is magnetic to the corruptible.Such people have a tendency to become drunk on violence, a condition to which they are quickly addicted.

  • Missionaria Protectiva, Text QIV (decto)




High Plains Drifter's picture

Zion's reaction to the Arab uprisings......

Perpetual war is the only way they exist and so it will go on and on......

Morris has it about figured out.......

High Plains Drifter's picture

Do you find this bazaar?

Israel helping el presidente for life to assemble army of 50,000 mercenaries.

Sometimes reality can make for strange bed fellows.

and now NATO and the Americans are helping the rebels .......

sounds like a recipe for continous war there.......which I think is the real
purpose of it all now.

MachoMan's picture

They all will kill him...  after taking his money...  So you end up in foreign lands, desperate to keep their populace from revolt and deposit billions into their coffers with the understanding they will keep you alive and secure?  Really?  This guy has nowhere to go and will eventually end up in an international tribunal fighting for his life (while blabbering incoherently and looking like a bleached Mr. Potato Head doll).

This is how dictators end up in holes with bed head.

Mad Max's picture

Kaddafi may not have any options in the nicer parts of the world, but he has some friends in various African countries, basically in a line south from Libya.  He could move to one of those, live in a nice mansion, set up his spawn as billionaires and likely die of natural causes without too much trouble.  I tend to think Oh Regional Indian's comments are right.

MachoMan's picture

His comments are right, but they're not mutually exclusive with what we're talking about...  Kaddafi Duck moving to another country is simply kicking the can down the road at this point...  either he goes to a place that kills him and takes his money...  or he goes to a place that will likely be overtaken by its own inhabitants, much like the MENA turmoil that took out Libya.  Regardless, each time he seeks to transfer his wealth, he'll pay a handsome transfer tax...  even to "friends".  My guess is this is why he wants to stay...  he is out of viable options.  People want his head and he can either do their job for them or he can delay the inevitable through additional conflict.  His choice.

I still think it would be awesome if he goes missing and a few months from now they find him in a small bunker knee deep in cocaine and hookers and with nick nolte dwi/saddam wild hair.  I mean, if I knew I only had a little while to live, I wouldn't blame him...

The Third Man's picture

This is like theater on wheels. If the Gaddafi show is over, then I guess it's time to move on to the Saudis.

Pizza spaghetti and mandolino's picture

No, just consider that today it's Carnival in Europe ...

High Plains Drifter's picture

It doesn't make any sense. He has stated and his son has stated, they are not leaving. I believe them. Their forces have gone on the offensive in many areas they are trying to retake. This does not sound to me like someone who is leaving.  I heard this , this morning on CNBC and I don't believe it.

Pizza spaghetti and mandolino's picture

It's Carnival today in Europe .....

Ned Zeppelin's picture

 BTFD, short oil.

Cognitive Dissonance's picture

Someone in last nights Gold thread asked what everyone thought the Monday morning Qaddafi rumor would be about.

Did someone win?

cowdiddly's picture

+ 106 Amazin what a rumor can do to the sheep when your short oil. I want to see footage of the gold bars being loaded.

Turd Ferguson's picture

I'm kind of surprised that no one here seemed to notice that this rumor was floated at the exact moment when the USDX was testing critical support at 76.17.

President Palin's picture

That is not a coincidence.  Propaganda at its best!

Cognitive Dissonance's picture

To busy watching the GW thread fireworks Turd. GW lit a barnfire for the maniac troll moths to fly towards and the blood is running pretty thick, not to mention plenty of singed wings.

Don't look at the light!

Poof. There goes another one. :>)

Bob's picture

Crazy.  I stayed away from it because I knew to expect another round of patriotic dismembership of "liberalism."  What a bunch of fucking nuts. 

Looks like non-partisan decency is winning the day there, however.

Cognitive Dissonance's picture

It's the same half dozen posters rotating in and out of various ID's with others just attracted to the nosie and the blood. When one ID is worn out, they switch into another one.

Psyops mixed with insanity mixed with nationalism mixed with denial. Same ole same old.

High Plains Drifter's picture

The false patriotism followers crying foul whenever they read something they don't want to read and then they complain to Tyler and ask him to quit allowing GW the right to post around here, etc.  It is this false pardigm of false patriotism , gone bad.  Whenever one talks about the subject of torture it brings them out in force because they don't want to talk about it nor do they want to examine it in any detail because they also probably are soldier worshipers, and if one has a problem with this thing we are doing, called torture, then they also , would have a problem with my friends and/or my sons who are fighting for my rights to freedom and liberty, never mind the fact that these wars are fought based upon lies and that these men and women are doing things that are wrong. Therein lies the problem and in this discussion it causes hate and discontent among those who are infected with this thing called false patriotism. It makes their ears itch and makes them feel unconfortable having to face something like this because if the whole war is a lie and it is, and if our soldiers are doing things that are wrong , and they are, then it is better to attack the writer who ask these salient questions than to face reality, a reality that is as ugly as real truth is, a reality that can and does cause pain.

Cognitive Dissonance's picture

The first and last person we hide from is ourself.

TradingJoe's picture

Oh Turd! Greed seems to have many "side effects"! One of them is total blindness! 

Cognitive Dissonance's picture

Sometimes it pays well to be blind. Until it doesn't.

Racer's picture

Isn't that kind of him to time it for the US open!

Quintus's picture

Very convenient Indeed.

Wasn't he 'Rumoured' to have been shot last week?   How about next week "Gadaffi rumoured to have been abducted by aliens - Oil plummets"?

How about this as an alternative headline:  'Administration rumoured to be desperate to control runaway oil prices - rumours about Gadaffi to continue until credibility of rumours (and Administration) approaches zero.

Rusty Shorts's picture

Maybe we should start our own rumors and place our bets accordingly, eh.

cowdiddly's picture

I find it amusing that people now refer to investing as placing a bet. LOL Let me contact my Bookie errrr..... Broker.

squexx's picture

Must have had time to get his $$$$ stash out of Libya!

the not so mighty maximiza's picture

Him leaving won't fix any problems.

tmosley's picture

But it does kick the can down the road--for a little while.  

Think "Egypt", but with less time given to the "new" bosses.

Oh regional Indian's picture

Absolutely. The drama has a ways to play out and notice, none of the places in trouble has any kind of clear succession plan, lots and lots of "princes" in waiting and general sectarian tension.

Lots of in-flammables yet.


OT, Inflammable reminded of something I saw on the back of an oil tanker today. India mangles english in strange, funny and often trippy ways.

For the Required "Highly Inflammable" the truck had painted on it:

"Highway In Flamabley"

Fitting, I thought.

StychoKiller's picture

Then you will find highly amusing as well!

Apparently, in Japan, they use English for decoration(s), no matter what it sez!

campag's picture

fooling some of the people some of the time?

John McCloy's picture

Maybe a QE3 rumor by days end as well.

Spastica Rex's picture

I already heard that someone high up said that QE3 is a go.

How's that?

Cognitive Dissonance's picture

Do you have a PhD in fuck you finance? If not, you have no credibility.

But thanks for the effort. :>)

Sudden Debt's picture

anybody with a clue will agree there is a QE3 comming.

Unless they change the name...


Cognitive Dissonance's picture

It's not official until a clueless PhD confirms it isn't gonna happen. Then of course everyone knows it will happen.

Alice in Wonderland would be so proud.

DaveyJones's picture

"It would be so nice if something made sense for a change." - Alice

High Plains Drifter's picture

Steve Lies Man  was talking with the chief bottle washer for the Chi town FED and they were talking about the end of QE 2 so,  it will end because they said so.........ah...right????

UninterestedObserver's picture

Yeah I guarantee this rumour is 100% bullshit - a few hours ago he is bombing ports but when the market opens here he is giving up LOL sure

slow_roast's picture

+1000 - just added GLD options for the day.  easy money.

Sudden Debt's picture

watch out for the D wave at the end of june.

1520$ is the top I think.


malikai's picture

Hmm.. So like US talks about using the SPR, Fed talks about raising rates, and talking heads talk about Ghadaffi leaving(again). Byebye retail kids. Thanks for playing.