First, comments by Michael Ruppert:
“We see two immediate outcomes from the all-of-a-sudden demise of Qaddafi. One is that oil contract with China and Russia are going to be tossed out or modified in favor of western European governments.
The other is that since there is as much as 100x more paper than physical gold, the seizure of 144 tons from Libya will allow the gold cartel to cover the 366 ton repatriation of Venezuela's gold without popping the bubble too quickly.
Zero Hedge puts a very sensible answer that conforms with Occam's Razor -- the simplest answer is usually correct. Today's surge in gold prices seems to bear this out.”
The Battle For Libya Is Almost Over... As Is The Battle For Its 144 Tons Of Gold
Following a 6 month stalemate in which neither side had attained any advantage, it suddenly took just a few days for the Libyan rebel forces to steamroll unopposed into Tripoli. While we are confident that the political aftermath of this outcome will be very much comparable to what is happening in Egypt right now, many wonder why it is that the Libyan situation has progressed with such speed. Perhaps the answer can be found in the 143.8 tons of gold held by the Libyan Central Bank.
Granted it is nowhere near close the 366 tons of gold that Venezuela supposedly has per the WGC, most of it likely held offshore and not being repatriated, the question of where the global gold cartel may find some of the much needed physical to satisfy Chavez' demands has been now answered. Of course we assume that said gold has not already departed Libya in direction Caracas over the past 6 months. Which, in retrospect, we probably should, as it would explain why gold is now at $1875 and rapidly rising.
'Western countries fighting for Libya’s oil fields like piranhas'
22 August, 2011, 21:06
Months of chaos await Libya if the NATO-led operation in the country topples Muammar Gaddafi, political analyst William Engdahl told RT, but regime change would suit Western oil interests.
“They are eventually going to topple Gaddafi," he said. “And I think what Libya is going to face after that is a period of prolonged chaos. Nobody knows the outcome.”
“What emerges from that, I think it suits some of the Western oil interests, especially the British and the French, who were fighting like piranhas over grabbing the most juicy oil fields for their own companies,” said Engdahl, author of "Full Spectrum Dominance: Totalitarian Democracy in the New World Order.”
Engdahl says NATO’s actions in Libya have created a very virulent precedent.
“What we have going on in Libya for some months now is a major effort by the US and NATO forces to pour at least $1 billion by various estimates into the so-called Transitional National Council,” he said. “It’s rival tribal clan warfare that is going on in Libya. This is not a democracy movement by any stretch of the imagination.”
Engdahl said it is simply an insurgency being supported covertly by US-financed armed shipments to the rebels – in order, he claimed “to simply carve up the oil fields and get them into Western hands, rather than in Libyan state hands, which Gaddafi held firmly on to.”
and now the official perspective:
Eni Leads Libya Oil Race; Rebels Warn Russia, China
Monday, 22 Aug 2011 | 9:57 AM ET
Italian oil company Eni led the charge back into Libya on Monday as rebels swept into capital Tripoli, hailing the end of Muammar Gaddafi's rule and warning Russian and Chinese firms of contract revisions.
Gaddafi's fall will reopen the doors to the country with Africa's largest oil reserves. New players such as Qatar's national oil company and trading house Vitol are set to compete with established European and U.S. majors.
"We don't have a problem with western countries like Italians, French and UK companies. But we may have some political issues with Russia, China and Brazil," Abdeljalil Mayouf, information manager at Libyan rebel oil firm AGOCO, told Reuters.
The comment signals the potential for a major setback for Russia, China and Brazil, which opposed tough sanctions on Gaddafi or pressed for more talks, and could mean a loss of billions of dollars worth of oil exploration and construction contracts in the African nation.
For article GO HERE