Libya Dinar

The Central Bank of Libya is 100% State Owned.
The Libyan government creates its own money, the Libyan Dinar,
through the facilities of its own central bank.
Few can argue that Libya is a sovereign nation with its own great resources,
able to sustain its own economic destiny.


One major problem for globalist banking cartels is that
in order to do business with Libya,
they must go through the Libyan Central Bank and its national currency,
a place where they have absolutely zero dominion or power-broking ability.
Hence, taking down the Central Bank of Libya (CBL)
may not appear in the speeches of Obama, Cameron and Sarkozy
but this is certainly at the top of the globalist agenda
for absorbing Libya into its hive of compliant nations.
According to the International Monetary Fund (IMF),
Libya's central bank has nearly 144 tonnes of gold in its vaults.
With that sort of asset base,
who needs the BIS, the IMF and their rules?...
With energy, water, and ample credit
to develop the infrastructure to access them,
a nation can be free of the grip of foreign creditors.
And that may be the real threat of Libya:
it could show the world what is possible.

Is this Libya war about oil, or central banking?
by Ellen Brown, Asia Times, Apr 14, 2011

Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank - this before they even had a government. Robert Wenzel wrote in the Economic Policy Journal: I have 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. Alex Newman wrote in the New American: In a statement released last week, the rebels reported on the results of a meeting held on March 19. Among other things, the supposed rag-tag revolutionaries announced the "designation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi." Newman quoted CNBC senior editor John Carney, who asked, "Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era."

Another anomaly involves the official justification for taking up arms against Libya. Supposedly it's about human rights violations, but the evidence is contradictory. According to an article on the Fox News website on February 28: As the United Nations works feverishly to condemn Libyan leader Muammar al-Qaddafi for cracking down on protesters, the body's own Human Rights Council is poised to adopt a report chock-full of praise for Libya's human rights record. The review commends Libya for improving educational opportunities, for making human rights a "priority" and for bettering its "constitutional" framework. Several countries, including Iran, Venezuela, North Korea, and Saudi Arabia but also Canada, give Libya positive marks for the legal protections afforded to its citizens - who are now revolting against the regime and facing bloody reprisal.

Whatever might be said of Gaddafi's personal crimes, the Libyan people seem to be thriving. A delegation of medical professionals from Russia, Ukraine and Belarus wrote in an appeal to Russian President Dmitry Medvedev and Prime Minister Vladimir Putin that after becoming acquainted with Libyan life, it was their view that in few nations did people live in such comfort: Libyans are entitled to free treatment, and their hospitals provide the best in the world of medical equipment. Education in Libya is free, capable young people have the opportunity to study abroad at government expense. When marrying, young couples receive 60,000 Libyan dinars (about 50,000 US dollars) of financial assistance. Non-interest state loans, and as practice shows, undated. Due to government subsidies the price of cars is much lower than in Europe, and they are affordable for every family. Gasoline and bread cost a penny, no taxes for those who are engaged in agriculture. The Libyan people are quiet and peaceful, are not inclined to drink, and are very religious. They [UN Human Rights Council] maintained that the international community had been misinformed about the struggle against the regime. "Tell us," they said, "who would not like such a regime?"

Even if that is just propaganda, there is no denying at least one very popular achievement of the Libyan government: it brought water to the desert by building the largest and most expensive irrigation project in history, the US$33 billion GMMR (Great Man-Made River) project. Even more than oil, water is crucial to life in Libya. The GMMR provides 70% of the population with water for drinking and irrigation, pumping it from Libya's vast underground Nubian Sandstone Aquifer System in the south to populated coastal areas 4,000 kilometers to the north. The Libyan government has done at least some things right.

Another explanation for the assault on Libya is that it is "all about oil", but that theory too is problematic. As noted in the National Journal, the country produces only about 2% of the world's oil. Saudi Arabia alone has enough spare capacity to make up for any lost production if Libyan oil were to disappear from the market. And if it's all about oil, why the rush to set up a new central bank? Another provocative bit of data circulating on the Net is a 2007 "Democracy Now" interview of US General Wesley Clark (Ret). In it he says that about 10 days after September 11, 2001, he was told by a general that the decision had been made to go to war with Iraq. Clark was surprised and asked why. "I don't know!" was the response. "I guess they don't know what else to do!" Later, the same general said they planned to take out seven countries in five years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran. What do these seven countries have in common? In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS). That evidently puts them outside the long regulatory arm of the central bankers' central bank in Switzerland.

The most renegade of the lot could be Libya and Iraq, the two that have actually been attacked. Kenneth Schortgen Jr, writing on, noted that "six months before the US moved into Iraq to take down Saddam Hussein, the oil nation had made the move to accept euros instead of dollars for oil, and this became a threat to the global dominance of the dollar as the reserve currency, and its dominion as the petrodollar." According to a Russian article titled "Bombing of Libya - Punishment for Ghaddafi for His Attempt to Refuse US Dollar", Gaddafi made a similarly bold move: Gaddafi initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gaddafi suggested establishing a united African continent, with its 200 million people using this single currency.

During the past year, the idea was approved by many Arab countries and most African countries. The only opponents were the Republic of South Africa and the head of the League of Arab States. The initiative was viewed negatively by the USA and the European Union, with French President Nicolas Sarkozy calling Libya a threat to the financial security of mankind; but Gaddafi was not swayed and continued his push for the creation of a united Africa.

And that brings us back to the puzzle of the Libyan central bank. In an article posted on the Market Oracle, Eric Encina observed: One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned ... Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations. Libya not only has oil. According to the International Monetary Fund (IMF), Libya's central bank has nearly 144 tonnes of gold in its vaults. With that sort of asset base, who needs the BIS, the IMF and their rules?

All of which prompts a closer look at the BIS rules and their effect on local economies. An article on the BIS website states that central banks in the Central Bank Governance Network are supposed to have as their single or primary objective "to preserve price stability". They are to be kept independent from government to make sure that political considerations don't interfere with this mandate. "Price stability" means maintaining a stable money supply, even if that means burdening the people with heavy foreign debts. Central banks are discouraged from increasing the money supply by printing money and using it for the benefit of the state, either directly or as loans.

In a 2002 article in Asia Times Online titled "The BIS vs national banks" Henry Liu maintained: BIS regulations serve only the single purpose of strengthening the international private banking system, even at the peril of national economies. The BIS does to national banking systems what the IMF has done to national monetary regimes. National economies under financial globalization no longer serve national interests.

... FDI [foreign direct investment] denominated in foreign currencies, mostly dollars, has condemned many national economies into unbalanced development toward export, merely to make dollar-denominated interest payments to FDI, with little net benefit to the domestic economies. He added, "Applying the State Theory of Money, any government can fund with its own currency all its domestic developmental needs to maintain full employment without inflation." The "state theory of money" refers to money created by governments rather than private banks.

The presumption of the rule against borrowing from the government's own central bank is that this will be inflationary, while borrowing existing money from foreign banks or the IMF will not. But all banks actually create the money they lend on their books, whether publicly owned or privately owned. Most new money today comes from bank loans. Borrowing it from the government's own central bank has the advantage that the loan is effectively interest-free. Eliminating interest has been shown to reduce the cost of public projects by an average of 50%.

And that appears to be how the Libyan system works. According to Wikipedia, the functions of the Central Bank of Libya include "issuing and regulating banknotes and coins in Libya" and "managing and issuing all state loans". Libya's wholly state-owned bank can and does issue the national currency and lend it for state purposes. That would explain where Libya gets the money to provide free education and medical care, and to issue each young couple $50,000 in interest-free state loans. It would also explain where the country found the $33 billion to build the Great Man-Made River project. Libyans are worried that North Atlantic Treaty Organization-led air strikes are coming perilously close to this pipeline, threatening another humanitarian disaster.

So is this new war all about oil or all about banking? Maybe both - and water as well. With energy, water, and ample credit to develop the infrastructure to access them, a nation can be free of the grip of foreign creditors. And that may be the real threat of Libya: it could show the world what is possible.

Most countries don't have oil, but new technologies are being developed that could make non-oil-producing nations energy-independent, particularly if infrastructure costs are halved by borrowing from the nation's own publicly owned bank. Energy independence would free governments from the web of the international bankers, and of the need to shift production from domestic to foreign markets to service the loans. If the Gaddafi government goes down, it will be interesting to watch whether the new central bank joins the BIS, whether the nationalized oil industry gets sold off to investors, and whether education and healthcare continue to be free.

Is this Libya war about oil, or central banking?

Libyan money notes & coins



















Libya: £61 billion in assets to be unfrozen, by Duncan Gardham, Telegraph, Aug 24, 2011
Up to $100bn (£61bn) in Libyan assets are set to be unfrozen by the United Nations to help fund the stabilisation of the country following the overthrow of the Gaddafi regime. Foreign Secretary William Hague has called on Muammar Gaddafi to recognise his 42-year rule over Libya was over and stand down his forces....

Libya Fact Sheet, Empire Strikes Black, May 5, 2011 (...Central Bank of Libya is 100% owned by state (since 1956) and is thus outside of multinational corporation control (BIS-Banking International Settlement rules for private interests). The state can finance its own projects and do so without interest rates, which reduce the costs by half of private banks. Libya’s central bank (with three branches in the east including Benghazi) has 144 tons of gold in its vaults, which it could use to start the gold dinar. (China, Russia, India, Iran are stocking great sums of gold rather than relying only on dollars....)

Libya denies Gaddafi has Swiss assets, Aljazeera, May 4, 2011
The Libyan government says that Muammar Gaddafi, the country's leader, has no personal assets in Swiss bank accounts, and that any cash held in the country belongs to the government's foreign investment arm. Speaking at a press conference early on Wednesday, Khaled Kaim, the deputy foreign minister, said that the money was far less than the $418.4 million that Swiss authorities said they had frozen, putting it closer to $29 million. "The money in bank accounts abroad is part of the investment portfolio of the government abroad," he told reporters. "If there is a single penny of the leader's money ... you are free to take it and to give it to anyone." On Monday, Swiss authorities said they had found 360 million Swiss francs ($418.4 million) of assets that were potentially illegal and belonged to either Muammar Gaddafi or his circle....

Palin Rope Obama says "noose is tightening" around Gaddafi, ABC, Apr 15, 2011
US president Barack Obama has acknowledged there is a "stalemate" on the ground in Libya, but says the "noose is tightening" on embattled dictator Moamar Gaddafi. Mr Obama said he still expected the three-week-old air campaign to succeed in ousting the embattled Libyan leader. The US president, with the leaders of France and Britain, released a newspaper article yesterday pledging to continue the military campaign until Mr Gaddafi leaves power, effectively making regime change the officially-stated aim of their air war. "I didn't expect that in three weeks, suddenly as a consequence of an air campaign, that Gaddafi would necessarily be gone," Mr Obama said in an interview with the Associated Press. "What we've been able to do is set up a no-fly zone, set up an arms embargo, keep Gaddafi's regime on its heels, make it difficult for them to resupply." He said the mission had succeeded in stopping large-scale civilian casualties, especially in the rebel-held city of Benghazi, and would eventually succeed in ousting Mr Gaddafi.

"You now have a stalemate on the ground militarily, but Gaddafi is still getting squeezed in all kinds of other ways. He is running out of money, he is running out of supplies. The noose is tightening and he is becoming more and more isolated," he said. "My expectation is that if we continue to apply that pressure and continue to protect civilians, which NATO is doing very capably, then I think over the long term Gaddafi will go and we will be successful.".... See DOUBLETHINK BLACKWHITE RACISM

Libyan oil for foreigners and a Central Bank from thin air, Muslim Village, Apr 18, 2011

What if Colonel Gaddafi loses the battle of Tripoli?
(a patron saint to 31 sub-Saharan Africa
All Africa/Uganda Vision, Apr 12, 2011
...Under the Libyan Investment Authority (LIA), the country's sovereign wealth fund believed to be capitalised at approximately $65 billion (Sh5.5 trillion), the North African nation has established numerous subsidiaries whose tentacles embrace hotels, oil exploration, mining, tourism, agriculture, and infrastructure in at least 31 countries....Alongside the economic alignments, Muammar Gaddafi has been trying to push for a United States of Africa through the AU and later through a group of traditional leaders which he had assembled under the auspices of the Forum for African Traditional Leaders (FATL). As part of his agenda, Gaddafi used to host members of FATL in the now rebel-held city of Benghazi every year, where he lavished them with gifts and promises of development funds. As a vote of thanks, this congress of chiefs and tribal leaders crowned their flamboyant benefactor as the "King of the Kings of Africa" in 2008.

The prospect of losing access to Libyan oil dollars is perhaps the reason Toro kingdom Queen Mother and FATL secretary general, Best Kemigisa, is one of the most aggrieved women in Uganda. Gaddafi spent millions of dollars in renovating the palace of Toro King Oyo Nyimba at Fort Portal. He is also said to have paid for the 19-year-old king's education at a prestigious London school. Gaddafi is also said to have close ties with the kingdom of Buganda, where he channelled his handouts through Prince Kassim Nakibinge. Apart from money pumped in through the traditional leaders, Uganda is one of the countries in Africa that have benefited the most from Libyan largesse in recent years. The Queen Mother, who describes Gaddafi as a revolutionary pan-Africanist who has led from the front in financing development projects across the continent, is also appealing to African members of the FATL to support Gaddafi in crushing the rebellion.

"He needs us more than ever before. As cultural leaders we should not sit and just watch him being hurt," Kemigisa explained in an interview with Uganda's Sunday Vision. "He has always been there for us and supported cultural institutions. We need to do something to help him resolve the crisis."

...From investments to philanthropy, Gaddafi's footprints are evident in Uganda. In March 2008, the Libyan leader visited Uganda amid huge fanfare to open a multi-billion dollar mosque, famed to be the second largest in Africa with a capacity to accommodate 15,000 worshippers. Of course, he had financed its construction. Perched on Old Kampala Hill, Gaddafi Mosque remains one of the most poignant symbols of Libya's geo-politics in Uganda. With the flamboyant leader having promised to finance the refurbishing and maintenance of the mosque for the next 10 years, there is uncertainty about what will happen if Tripoli falls. "May Allah protect and help our brother (Gaddafi) emerge victorious because I don't know whether we shall be able to maintain the mosque without his support," Meddie Akhram, a worshipper, was quoted as lamenting....

Canada company building Libya water pipeline halted, CBC, YouTube, Apr 2011
Calgary, Alberta - Pure Technologies Ltd. (TSXV: PUR) says its first quarter results will be impacted by turmoil in Libya, where its operations overseeing a construction project have been suspended. The Calgary-based infrastructure manager says the violence has affected its contract to monitor construction of the Great Man Made River project, a pipeline being built to transport water from the southern Libyan desert to urban centres in the north. Pure Technologies had anticipated shipping equipment worth $10.7 million in March, which will now be delayed. It had also expected $2 million in revenues for technical support for the pipeline monitoring, which has been affected because the company has delayed all work in Libya until conditions improve...

Rebel-controlled Libyan oil cargo China-bound (payment to be made via offshore bank account)
by Amena Bakr & Jonathan Saul, AFP/Reuters, Apr 7, 2011
Dubai/London - China will buy the first oil cargo from Libyan rebels [non-Libyan Islamic-extremist terrorists] via trading house Vitol, sources said on Thursday, in a trial deal which is likely to clear the way for Europe to resume badly-needed purchases of Libyan oil...The war has cut oil output by 80 percent while rebels [non-Libyan Islamic-extremist terrorists] and government forces trade charges over attacks on oil fields. "Given that several governments, including some in Europe that now recognise the rebels [non-Libyan Islamic extremist terrorists] as the legal government of the country, there would be no legal obstacle to buying oil from it or even paying the rebels [non-Libyan Islamic extremist terrorists] directly," said J. Peter Pham, Africa director with U.S. think tank the Atlantic Council...Trading sources told Reuters earlier on Thursday that the Liberia-registered tanker Equator, which can carry up to one million barrels of oil, was taking Libyan crude to China. "The delivery will be made in China, but it's still not clear who the buyer is," said a Gulf-based trader.... The tanker is expected to take around 28 days to arrive in China including transit times through the Suez Canal and Red Sea, a shipping source said. The expected shipment will be the first in weeks since an uprising against Libyan leader Muammar Gaddafi halted exports. "If the first shipment makes it to China and there are no problems with the transfer of payments, we should be expecting to see more trade by the rebels [non-Libyan Islamic extremist terrorists] who are being backed by Qatar," one Gulf-based trader said....The rebel-led government [non-Libyan Islamic extremist terrorists] said it had concluded a deal with Qatar to market crude oil and had discussed plans with a U.N. envoy to exempt its oil exports from sanctions that have been imposed on Libya. Traders said they believed that the payments will be made via an offshore bank account. "The value of this first shipment is around $112 million and will be made in a bank account outside of Libya that the rebels [non-Libyan Islamic extremist terrorists] would have access to," one of the traders said. Rebels [non-Libyan Islamic extremist terrorists] have asked the United Nations to help restart oil and gas exports from ports they control and said the matter required "urgent attention" to enable Libya's economy to function...."Libya's importance as an oil producer is being deliberately underplayed given her reserves and China will buy Libyan oil and establish its political and economic clout."

LibyaWaterPipe Libya Seeks World Intervention to Prevent Environmental Disaster
UN warplanes targeting Libya's Great Man-Made River
Tripoli Post, Apr 7, 2011
Libyan authorities have urged the UN and its specialised agencies, UNESCO, FAO and the International Agency for Environmental Protection, to prevail on the Western coalition forces to stop aerial bombing and the hawling of missiles on targeted parts of the country. The Libyan authorities raised the alarm against targeted air attacks on such sensitive areas like the Great Man-Made River Project facilities, which provides drinking water and irrigation needs to about 4.5 million people, which is 70 per cent of the population, Panapressreports. In a joint statement issued after an emergency meeting held Sunday to inform the world of the dangers inherent in targeting such sensitive areas by the air raids, the Libyan Secretariat of General People's Committee (Ministry) on Agriculture and the executive committee of the Great Man-Made River said that continued bombing could cause environmental and humanitarian disaster that will affect over 4.5 million Libyans, in addition to the damage that could affect the production of cereals, fodder and waterholes for livestock. The statement highlighted the serious catastrophic consequences that could result from the air raids on most parts of Libya, including areas very close to pipelines, especially between Sirte and Benghazi, where pipeline networks and gas pipelines overlap, in addition to equipment and facilities. Panapress reported the statement warning against the consequences of actions that may affect part of the water project, in view of the difficulties to repair the damage to the pipes of the plant of Brega, which could affect the supply of water to the citizenry. Among the consequences of the destruction of the hydraulic system, the statement also cited the risk of flooding, which could affect residential areas and cause human and environmental disaster. These water systems drain more than three million cubic metres daily at high pressure, in addition to the over 60 million cubic metres of water stored in reservoirs across different regions of Libya. It said that the Management Committee of the Great Man-Made River Project is responsible for its operation and water supply to most towns and villages in Libya and it is the main source of water for most of the regions and cities, which represent approximately 70 per cent of the Libyan population. The Great Man-Made River system has been globally recognised as the largest water transport system in the world. It stretches from Kouffra, Serrir and Jabal Hassouna (south) to Ghadames (southwest), up to coastal areas from Benghazi (east) to Zouara (west), through the city of Ajdabia, Brega, Ras Lanuf, Ben Jaouad, Sirte, Museratha, Zlitin, Khomas, Tarhouna, Beni Walid, Gharyan, Kufra, Yefrane, Nalout and Tripoli, through pipelines stretching to over 4,000 km. This gigantic water project has several reservoirs in Benghazi, Sirte and Ajdabiyah, with a total capacity of more than 50 million cubic metres and pumping stations in various parts of the country. The water system has 120 supply sources to the cities, agricultural projects and maintenance services, 55 pastoral watering points, 3,000 control rooms and ventilation valves, which are the main facilities for safety and operation of the hydraulic structure.

Watch Saif al-Islam Gaddafi, son of Muammar Gaddafi, Talk to Jazeera (...We know the organized campaign against Libya - it is a very rich country, small population...), Mar 2011

Could frozen Libyan assets pay for UN's war on Libya?
CNN Money, Mar 31, 2011
New York - In late February, President Obama issued an executive order that froze Libyan government assets worth at least $30 billion. One month later, the U.S. is engaged in a conflict [UN war on Libya] that will wind up costing billions. And budgets are obviously tight. So could the government use some of that Libyan money to pay for the war? Some on Capitol Hill think so. Rep. Brad Sherman, a California Democrat, said Thursday that assets seized from Libya and Gadhafi should be used immediately to pay for the war effort. But not so fast. The U.S. didn't really "seize" Libyan assets. Instead, the executive order issued by Obama froze the funds in their current accounts. "Title - or ownership - of those assets remain with Gadhafi, his sons, or the government of Libya," said Hal Eren, a D.C.-based attorney who spent eight years at the U.S. Treasury Department's Office of Foreign Assets Control. "In order to use those assets to pay for the UN war, the government would have to have the consent of the owner," Eren said. "Which is probably unlikely - given the circumstances." So for now at least, these assets are just sitting in U.S. banks, earning interest. "Treasury hits a button and everything is frozen," according to Erich Ferrari, the founder of Ferrari Legal, a firm that specializes in trade sanctions.

Not much is publicly known about the make-up of Libyan assets in the U.S. A secret diplomatic cable released by WikiLeaks suggests that Libyan officials had spread around $32 billion in assets to different U.S. banks in $300-$500 million chunks. "It's a pain in the neck for banks," Ferrari said. "You have blocked accounts just sitting there." And really, that's what Obama wants. The idea is that if Gadhafi falls, the next government will take control of the assets. "We will safeguard the more than $33 billion that was frozen from the Gadhafi regime so that it's available to rebuild Libya," Obama said on Monday. "After all, the money doesn't belong to Gadhafi or to us - it belongs to the Libyan people. And we'll make sure they receive it." Rep. Brad Sherman thinks otherwise, and wrote a letter to Obama on Wednesday urging him to fully exhaust the frozen funds before passing on costs to the taxpayer. Before that could happen, the government [USA] would have to actually seize the assets - a process called vesting. And that's not likely to happen. "That would take a law being passed that is not on the books now," Ferrari said. And it wouldn't be a popular move. "There would be a great deal of uproar from the international community," he added. "If we started doing that we would be hearing from a lot of people."

Jewish billionaire Soro fingerprints on Libya Bombing, Fox News, Mar 23, 2011 (Soros funder/proponent of global organization that promotes the military doctrine used by the Obama administration to justify the recent airstrikes targeting the regime of Moammar Gadhafi in Libya. The activist who founded and coined the name of the doctrine, "Responsibility to Protect," sits on several key organizations alongside Soros....)

GadaffiPics The Muammar Gadaffi Story, BBC News
...In the heady days of 1969 - when he seized power in a bloodless military coup - and the early 1970s, Muammar Gaddafi was a handsome and charismatic young army officer. An eager disciple of President Gamal Abdel Nasser of Egypt (he even adopted the same military rank, promoting himself from captain to colonel after the coup), Gaddafi first set about tackling the unfair economic legacy of foreign domination. For Nasser, it was the Suez Canal. For Gaddafi, it was oil. Significant reserves had been discovered in Libya in the late 1950s, but the extraction was controlled by foreign petroleum companies, which set prices to the advantage of their own domestic consumers and benefited from a half share in the revenue. Col Gaddafi demanded renegotiation of the contracts, threatening to shut off production if the oil companies refused. He memorably challenged foreign oil executives by telling them "people who have lived without oil for 5,000 years can live without it again for a few years in order to attain their legitimate rights". The gambit succeeded and Libya became the first developing country to secure a majority share of the revenues from its own oil production. Other nations soon followed this precedent and the 1970s Arab petro-boom began. Libya was in a prime position to reap the benefits. With production levels matching the Gulf states, and one of the smallest populations in Africa (less than 3m at the time), the black gold made it rich quickly.

Rather than persevering with the doctrines of Arab Nationalism, or following the glittering excesses of Gulf consumerism, Col Gaddafi's innately mercurial character led him and Libya on a new path. Born to nomadic Bedouin parents in 1942, Muammar Gaddafi was certainly an intelligent, resourceful man, but he did not receive a thorough education, apart from learning to read the Koran and his military training. Nevertheless, in the early 1970s he set out to prove himself a leading political philosopher, developing something called the third universal theory, outlined in his famous Green Book. The theory claims to solve the contradictions inherent in capitalism and communism (the first and second theories), in order to put the world on a path of political, economic and social revolution and set oppressed peoples free everywhere....

The combination of water and oil gave Libya a sound economic platform Colonel Gaddafi fitted the bill as an authoritarian ruler who had endured for more years than the vast majority of his citizens could remember. But he was not so widely perceived as a western lackey as some Arab leaders accused of putting outside interests before those of his people. He had redistributed wealth - although the enrichment of his own family from oil revenues and other deals was hard to ignore and redistribution was undertaken more in the spirit of buying loyalty than promoting equality. He sponsored grand public works, such as the improbable Great Man-Made River project, a massive endeavour inspired, perhaps, by ancient Bedouin water procurement techniques, that brought sweet, fresh water from aquifers in the south to the arid north of his country....

8.Classes of People & 9.Keeping Masses Down 10.BB Rulers & 35.BB Brotherhood

Jackie Jura
~ an independent researcher monitoring local, national and international events ~