Qaddafi’s Gold & US Involvement In Libya
June 27th, 2011When President Obama ordered the military into Libya, he set off a furious debate that goes on to this day. Why are we getting involved in Libya? What reason do we have to be involved in a civil war? While many supporters of military action have made the claim that it is for humanitarian reasons that NATO forces have intervened, lest we have a massive rout of the rebels on our hands, there may be another reason…
Libyan ruler Colonel Qaddafi is a key backer of a new African currency: the gold dinar. This currency would be gold backed and would possibly be the preferred method of trade for oil, rather than the dollar. Since Libya has a disproportionately large amount of gold, given its relatively small population, it would be in prime position to take advantage of the new sound currency, which would put American interests in oil, as well as the supremacy of the dollar in jeopardy. This clip from Russia Today shows how the US may’ve acted in the same manner when Saddam Hussein tried to tie oil to the euro, and possible attempts by Washington to suppress African nationalism:
