Is the West waring against Libya more about currency and loans than oil?Submitted by Henry on Sat, 04/30/2011 - 09:41
Here is an interesting article that makes the case that the attempt to take control of Libya is about empire and the imposition of the currency of the empire on foreign lands.
According to the IMF, Libya’s Central Bank is 100% state owned. The IMF estimates that the bank has nearly 144 tons of gold in its vaults. It is significant that in the months running up to the UN resolution that allowed the US and its allies to send troops into Libya, Muammar al-Qaddafi was openly advocating the creation of a new currency that would rival the dollar and the euro. In fact, he called upon African and Muslim nations to join an alliance that would make this new currency, the gold dinar, their primary form of money and foreign exchange. They would sell oil and other resources to the US and the rest of the world only for gold dinars.
One definition of “Empire” (per my book The Secret History of the American Empire) states that an empire is a nation that dominates other nations by imposing its own currency on the lands under its control. The empire maintains a large standing military that is ready to protect the currency and the entire economic system that depends on it through extreme violence, if necessary. The ancient Romans did this. So did the Spanish and the British during their days of empire-building. Now, the US or, more to the point, the corporatocracy, is doing it and is determined to punish any individual who tries to stop them. Qaddafi is but the latest example.