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 ...it 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)

Bob Chapman : Gold is having a wonderful correction

Bob Chapman : Gold is not going to stop at $2000 it may quiver at $2200 , this is a wonderful correction , and those idiots had it all done in two days , you talk about painlessness , it is like you go to the doctor and you had two tooth pulled and there is no pain , it sure is down but what are they going to do onward ? they have no bullion for sale it's all paper , and so what should the public be doing and professionals as well , they should be in there mid-day tomorrow started to phase in the new buying they should be buying all the time but especially hen you have dumps like this , obviously for the government to do this with the brokerage houses and the hedge funds and the banks and the working groups in the financial markets for them to do that some very very bad news is coming I can promise you , JPM would not come out and say Gold is going to $2500 this year , if they did not think it is going higher because they wanted to stop in there that's why they are doing what they are doing it is called psychological warfare , and so where is gold going ? I'd say by the end of February which is kind the end of the big move historically yearly in gold and silver we are looking at $3000 - $3200 and a $100 silver and it is going to happen they cannot stop it




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)

Jim Rogers : The last thing you want is for your Gold to be in a vault of a bank which goes bankrupt

Jim Rogers :It is (what Venezuela has done ) certainly significant especially if they (the banks ) find out  that they do not have it , it will be quite a turmoil if all of sudden the banks will say we do not have all that gold we do not find it because you know a lot of gold has been mixed with other gold it might just mean more and more people do want to hold their gold in their own hands , I would suspect so , we are coming in more and more turmoil more and more banks will be going bankrupt and The last thing you want is for your Gold to be in a vault of a bank which goes bankrupt or which has to suspend redemption , so I suspect you'll see more of it





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)