GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Thursday, August 25, 2011

Gaddafi to sell off Gold reserves

Libyan war 100 Tons Of Libyan Gold being looted and Will Not Be Found .More speculation has been raised on the reasons for NATO's intervention in Libya. the organization may have been trying to prevent Gaddafi from burying the American buck.its simple...the western powers dont want to lose control of there monetary system. So if a country that is rich in natural goods doesnt want to except paper as payment ..but actual gold as payment devalues there paper money as worthless. The aggressor uses propaganda and manipulation to convince the taxpayers its all in the name of the people safety but in reality its all about the bankers and strategic positioning for expansion.

Libya's former central bank governor, Farhat Bengdara, says Gaddafi will try to sell part of Libya's gold reserves to pay for his escape and to spread chaos among the tribes. Bengdara has allied himself with the Libyan rebels. In an interview with an Italian newspaper he claimed that an ally of Gaddafi had offered to sell 25 tons of gold to a friend of his, but that this friend immediately rejected the offer. Bengdara declined to reveal his friend's identity. The former central bank governor also said that Tripoli has 10 billion US dollars in gold reserves in Tripoli and that Gaddafi could have made off with some of it. Bengdara believes that Gaddafi has fled Tripoli via the Algerian border, and that he may try to pay off some tribes for protection. With regards to Libya's future, he says the country will need 5 to 7 billion US dollars as a bridging loan to restart the banking system and pay for imports.

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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