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    Libya descended into chaos following the fall of Colonel Gaddafi, killed by French and British-led NATO forces.

    De-Dollarization: The Story of Gaddafi's Gold-Backed Currency is Not Over

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    A declassified email exchange between former US Secretary of State Hillary Clinton and her adviser Sid Blumenthal shows that Clinton was up to her eyeballs in the Western conspiracy against Libyan leader Muammar Gaddafi and his Pan-African "Gold Dinar" currency, F. William Engdahl narrates.

    A recently declassified email from the illegal private server used by ex-Secretary of State and Democratic presidential hopeful Hillary Clinton during the Washington-orchestrated war against Muammar Gaddafi sheds some light on the US establishment's genuine motivation.

    "In a newly declassified Clinton email from Sid Blumenthal to Secretary of State Hillary Clinton dated April 2, 2011, Blumenthal reveals the reason that Gaddafi must be eliminated," F. William Engdahl, American author, researcher and risk strategic consultant, writes in his article for New Eastern Outlook.

    "Using the pretext of citing an unidentified 'high source' Blumenthal writes to Clinton, 'According to sensitive information available to this source, Gaddafi's government holds 143 tons of gold, and a similar amount in silver… This gold was accumulated prior to the current rebellion and was intended to be used to establish a pan-African currency based on the Libyan golden Dinar," the researcher exposes.

    Gaddafi was not the only Arabian leader who sought to divert its oil revenues into state-controlled funds, rather than trusting it to New York and London bankers, following the US war on terror kicked off in the Middle East and Central Asia.

    "By 2008 the prospect of sovereign control by a growing number of African and Arab oil states of their state oil and gas revenues was causing serious concern in Wall Street as well as the City of London. It was huge liquidity, in the trillions, they potentially no longer controlled," Engdahl continues.

    Meanwhile, in 2009 Gaddafi, then President of the African Union, offered the states of the continent to shift to a new currency, independent from the US dollar, the so-called "Gold Dinar."

    According to the researcher, the idea, voiced by the Libyan leader, received high praise from Tunisia's Ben Ali and Mubarak's Egypt.

    Gaddafi called upon African nations to create a currency alliance making the gold dinar the primary means of payment for oil and other resources.

    "Along with the Arab OPEC sovereign wealth funds for their oil, other African oil nations, specifically Angola and Nigeria, were moving to create their own national oil wealth funds at the time of the 2011 NATO bombing of Libya," Engdahl writes, adding that those sovereign national funds were supposed to make Africa independent from colonial monetary control.

    The dream of the African nations was at the same time a nightmare for Western financial elites.

    In light of this it is hardly surprising that Wall Street and the City of London threw their weight behind the NATO-led campaign aimed against the "rebellious" Libyan leader.

    Engdahl draws attention to the fact that there was something very fishy about the idea of the US-backed Libyan Islamists to create a Western-style central bank 'in exile' (as well as its own oil company) amid the fierce fight against the Gaddafi government.

    The researcher cites Robert Wenzel who wrote in the Economic Policy Journal that he has "never before heard of a central bank being created in just a matter of weeks out of a popular uprising."

    "This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences," Wenzel stressed.

    The aforementioned "sophisticated interests" could have been tied to Wall Street moguls and the City of London bankers who sought to eliminate the very idea of a Pan-African currency.

    "The Gaddafi dream of an Arabic and African gold system independent of the dollar, unfortunately, died with him," Engdahl notes.

    The story is not finished yet: a new gold-backed currency alliance is emerging in the East, threatening again the US dollar hegemony. This group, headed by China and Russia, poses an entirely new challenge to America's monetary dominance, the researcher remarks.

    Related:

    UK PM Refuses to Rule Out Sending Troops to Libya
    Satellite Images Confirm: French Special Forces Deployed to Libya
    Iran's De-Dollarization of Oil Is About Business, Not Politics
    Non-Dollar Trading: Emerging Economies Deal a Heavy Blow to Petrodollar
    Tags:
    de-dollarization, regime change, gold, currency, OPEC, African Union (AU), Hillary Clinton, Muammar Gaddafi, China, Libya, United States, Russia
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    • Annin reply tobange(Show commentHide comment)
      bange, Time for that to change.
    • klod.infobeez
      "Gaddafi, then President of the African Union, offered the states of the continent to shift to a new currency, independent from the US dollar, the so-called "Gold Dinar."

      According to the researcher, the idea, voiced by the Libyan leader, received high praise from Tunisia's Ben Ali and Mubarak's Egypt."

      And the three of them were victims of strange coups. How surprising !
    • avatar
      espenskrdal
      China and Russia must carry on the legacy after Gaddafi: to de-dollarize the international Financial system to make it more just and equitable to the whole world.
    • avatar
      michaelin reply tokarlof1(Show commentHide comment)
      karlof1, thanks for the link - much appreciated.:)
    • avatar
      michaelin reply tobange(Show commentHide comment)
      bange, agreed, as I was saying the other day, if the world isolated the us and its so-called allies they would very soon find that their resources were insufficient to support themselves - let alone their military interventions and adventurism. Imposed 'time-out' might work for the children.
    • avatar
      michaelin reply toklod.infobeez(Show commentHide comment)
      klod.infobeez, it is truly a world of many strange coincidences! :)
    • Marc Nonnenkamp
      The USA continues to try to prevent and/or avoid the inevitable. Gold and/or gold-backed currencies will eventually replace fiat currencies, of which the most notorious (due to the level of Dollar-denominated debt, unfunded liabilities and contingent liabilities such as financial derivatives) is the US Dollar. The time of reckoning is not very far off anymore - perhaps a year or two at most.
    • Ann
    • ralf.sxm
      Wicked criminal woman. However the real reasons about the war against Gadhafi is not new - same with Irak and now Syria.
    • Stuff like this needs to be in text books in highschools out here in murrika. I try to tell as many people as possible about this VERY subject and almost no one wants to listen. wonderful article!
    • Drain the swamp
      "we came we saw and he died" cackled the witch, in her 2012 opening salvo for a bid at POTUS 2016.
    • avatar
      guillaume.t
      We live in an epic time. A long while ago a western oligarch said "Give me control of a nation's money and I care not who makes it's laws". As the article unveils, Gheddafi was attempting to take back that control for Africa, he was probably overturned and assassinated for it.

      To regain control of our countries, we need to take back control of our money. The leaders of Lybia and Iraq understood that, their fault was megalomania, they mistakenly saw themselves as powerful enough to pull it off locally.

      Now with two major powers like Russia and China leading the way, this epic journey has started. The momentum is palpable, worldwide support is growing every day, and soon it will become unstoppable. We are a blessed generation.
    • klod.infobeezin reply tomichael(Show commentHide comment)
      michael, amaaazing, isn't ?
    • avatar
      terryjohnodgersin reply toprofessor.hornblow(Show commentHide comment)
      professor.hornblow, no one really knows what those 'consequences' will turn out to be, but, at some point the west has to reset back to the gold standard and be rid of fiat money so all of our economies can get back to some kind of normalization. I think the big question that has yet to be asked is this; at what point in the 'consequences' and if they come about, will those who have driven this financial catastrophe be held accountable for their criminal actions?
    • avatar
      terryjohnodgersin reply toguillaume.t(Show commentHide comment)
      guillaume.t, Couldn't agree more with your comment. We are witnessing, history in the making and we all have a front row seat.
    • katleho lekopa
      gold backed currency??! researcher what all these currency backed currently? i am sick of high animals cult's wordart: capped, pegged. hyper-inflated, duh!
    • avatar
      Clinton is a psychopath. No inner voice over murdering Gadaffi and thousands of innocent people. No remorse whatsoever. Lies through her teeth, doesn't bother her a lick. Says one thing, does another, not a problem. Doesn't even recognize the fact that she's doing it. Classic! And this bit*h is actually running for president and possibly has enough idiots to vote her into office. Another day in Amerika, spreading freedom and democracy through out the world, at the end of a barrel of a gun. Or murdering tens of thousands of innocents that are "collateral damage" from drone strikes while the lunatics are running the asylum!
    • avatar
      Nails in the Coffin.. unfortunately .. the Libya histories of decades now past.
      Than.. the current today have certainly placed *nails* in the proverbial coffin.

      History is not History no matter what George H.W Bush has said and is well Quoted.
      mortals..
    • avatar
      Mitach2002
      Check out Karen Hudes. The terrorist American governments fiat currency is doomed and necks will be stretched when that collapse occurres and nothing is there to replace it.
      The slaves will devour their masters.
      I'll supply the sauce! Lol
    • Marc Nonnenkamp
      Correct. Elliott Wave International of Atlanta, Georgia has said as much in the recent past. Mainland China, Taiwan, Russia, and many countries who use the Dinar or who have used it in the past (countries in North Africa, the Middle East, the Persian Gulf and the Balkans) back their currencies at least to some extent with gold bullion. This was common practice throughout much of recorded human history. Fiat currencies (backed by nothing other than quasi-public sector central banks actually owned by commercial banks which are in turn owned by the most powerful families in the world) came into being after the Bank of England was established in 1694. The US Federal Reserve came into being in 1913. After the collapse of global asset markets (stocks, bonds, currencies, commodities, real property, personal property) the last and biggest and bubble will collapse in the form of the US Dollar. The futures markets have already given us a prelude to this eventuality over the course of the past 15 months.
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