It remains unclear exactly why or how the Gadhafi regime went from “a model” and an “important ally” to the next target for regime change in a period of just a few years. But after claims of “genocide” as the justification for NATO intervention were disputed by experts, several other theories have been floated.

Oil, of course, has been mentioned frequently — Libya is Africa‘s largest oil producer. But one possible reason in particular for Gadhafi’s fall from grace has gained significant traction among analysts and segments of the non-Western media: central banking and the global monetary system.

According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.

And it literally had the potential to bring down the dollar and the world monetary system by extension, according to analysts. French President Nicolas Sarkozy reportedly went so far as to call Libya a “threat” to the financial security of the world. The “Insiders” were apparently panicking over Gadhafi’s plan.

"Any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world's central banks,” noted financial analyst Anthony Wile, editor of the free market-oriented Daily Bell, in an interview with RT. “So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward [for] removing him from power."

According to Wile, Gadhafi’s plan would have strengthened the whole continent of Africa in the eyes of economists backing sound money — not to mention investors. But it would have been especially devastating for the U.S. economy, the American dollar, and particularly the elite in charge of the system.

“The central banking Ponzi scheme requires an ever-increasing base of demand and the immediate silencing of those who would threaten its existence,” Wile noted in a piece entitled “Gaddafi Planned Gold Dinar, Now Under Attack” earlier this year. “Perhaps that is what the hurry [was] in removing Gaddafi in particular and those who might have been sympathetic to his monetary idea.”

Investor newsletters and commentaries have been buzzing for months with speculation about the link between Gadhafi’s gold dinar and the NATO-backed overthrow of the Libyan regime. Conservative analysts pounced on the potential relationship, too.

“In 2009 — in his capacity as head of the African Union — Libya's Moammar Gadhafi had proposed that the economically crippled continent adopt the ‘Gold Dinar,’” noted Ilana Mercer in an August opinion piece for WorldNetDaily. “I do not know if Col. Gadhafi continued to agitate for ditching the dollar and adopting the Gold Dinar — or if the Agitator from Chicago got wind of Gadhafi's (uncharacteristic) sanity about things monetary.”   

But if Arab and African nations had begun adopting a gold-backed currency, it would have had major repercussions for debt-laden Western governments that would be far more significant than the purported “democratic” uprisings sweeping the region this year. And it would have spelled big trouble for the elite who benefit from “freshly counterfeited funny-money,” Mercer pointed out.
 
“Had Gadhafi sparked a gold-driven monetary revolution, he would have done well for his own people, and for the world at large,” she concluded. “A Gadhafi-driven gold revolution would have, however, imperiled the positions of central bankers and their political and media power-brokers.”

Adding credence to the theory about why Gadhafi had to be overthrown, as The New American reported in March, was the rebels’ odd decision to create a central bank to replace Gadhafi’s state-owned monetary authority. The decision was broadcast to the world in the early weeks of the conflict.

In a statement describing a March 19 meeting, the rebel council announced, among other things, the creation of a new oil company. And more importantly: “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.”

The creation of a new central bank, even more so than the new national oil regime, left analysts scratching their heads. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” noted Robert Wenzel in an analysis for the Economic Policy Journal. “This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences,” he added. Wenzel also noted that the uprising looked like a “major oil and money play, with the true disaffected rebels being used as puppets and cover” while the transfer of control over money and oil supplies takes place.

Other analysts, even in the mainstream press, were equally shocked. “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?” wondered CNBC senior editor John Carney. “It certainly seems to indicate how extraordinarily powerful central bankers have become in our era.”

Similar scenarios involving the global monetary system — based on the U.S. dollar as a global reserve currency, backed by the fact that oil is traded in American money — have also been associated with other targets of the U.S. government. Some analysts even say a pattern is developing.

Iran, for example, is one of the few nations left in the world with a state-owned central bank. And Iraqi despot Saddam Hussein, once armed by the U.S. government to make war on Iran, was threatening to start selling oil in currencies other than the dollar just prior to the Bush administration’s “regime change” mission.

While most of the establishment press in America has been silent on the issue of Gadhafi’s gold dinar scheme, in Russia, China, and the global alternative media, the theory has exploded in popularity. Whether salvaging central banking and the corrupt global monetary system were truly among the reasons for Gadhafi’s overthrow, however, may never be known for certain — at least not publicly.

Related articles:

Libya: Now What?

“Libyan Rebels” Create Central Bank, Oil Company

Brief History of Gadhafi & His Regime

U.S. Officials Celebrate Killing of Former Ally Gadhafi

Waking up to a World Currency

Al-Qaeda and NATO’s Islamic Extremists Taking Over Libya

Fed Manipulations in the Crosshairs

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maryflny said:

... It explains why the sudden concern that Iran maybe capable of obtaining nuclear weapons. I didnt know what could the sudden concern but I didn't believe the media hype! I support Ron Paul's foreign policy.

November 11, 2011

Pat Henry said:

there's regiome change and then there's regime change Any "monetary system" that can be "brought down" by some people choosing to do business in gold or silver money, or even trading commodities, is inherently an unstable system. Is is smart to play such a supposed "confidence game"?

November 11, 2011

Pat Riot said:

... Who would have guessed that the banksters were involved in more murderous scheming! Certainly not me! (That was sarcasm by the way!)

November 12, 2011

aubreyfarmer said:

... The Zionist zeal to control the world is going to wind up destroying the world.

November 13, 2011

JackD said:

It’s now official – there’s been no actual shortage of Holocaust Survivors : Quote from The Holocaust Industry by Norman G. Finkelstein of the City University of New York, published by Verso in the year 2000: 'The Israeli Prime Minister's office recently put the number of "living Holocaust survivors" at nearly a million.' (page 83) I've checked out the six volumes of Churchill's Second World War and the statement is quite correct - not a single mention of Nazi 'gas chambers,' a 'genocide' of the Jews, or of 'six million' Jewish victims of the war. Eisenhower's Crusade in Europe is a book of 559 pages; Churchill's Second World War totals 4,448 pages; and De Gaulle's three-volume Mémoires de guerre is 2,054 pages. In this mass of writing, which altogether totals 7,061 pages (not including the introductory parts), published from 1948 to 1959, one will find no mention either of Nazi 'gas chambers,' a 'genocide' of the Jews, or of 'six million' Jewish victims of the war.

November 14, 2011

S. Wesley Mcgranor said:

... Gadhafi was an iconoclast and genius. R.I.P.

November 14, 2011

Ken E said:

... Reading this story, and the stories it links to within it's text, (and even some of the comments) is pretty eye-opening. It would appear there's a very deadly winner-take-all game being played by the world's financial giants, kind of like Monopoly and Risk rolled into one. And the 'one-world' economic and political system doesn't seem so very far away. Some suggested reading: Daniel, chapters 8-11

November 14, 2011