IMF: “Gaddafi sitting on 143 tonnes of gold in Libya”
Libyan leader Muammer Gaddafi is reportedly sitting on a 143.8-tonne $6.4-billion pot of gold – enough to pay mercenaries to fight for him for years.
The gold bullion – held by the Libyan central bank and controlled by Colonel Gaddafi – is among the 25 largest reserves in the world, the Financial Times reported, citing the International Monetary Fund.
They provide the 68-year-old Libyan strongman a lifeline after billions of assets held offshore were frozen by the United States and the 27 member states of the European Union.
The gold reserves are believed to have been moved from the central bank in the capital, Tripoli, to another city such as Sebha in the south, which is near Libya’s African neighbours Chad and Niger, after fighting broke out, the Times reported.
While bankers told the Times that international banks or trading houses were unlikely to buy any gold believed to be from Libya, Colonel Gaddafi may find buyers in Chad or Niger.
“If a country like Libya wants to make their gold liquid it would probably be in the form of a swap – whether for arms, food or cash,” Walter de Wet, the head of commodities research at Standard Bank, told the Times.
The price of gold has risen recently, fuelled by growing instability in the Middle East and North Africa.
“If the dollar remains weak and we get further unrest in the Middle East, there is a very reasonable chance for gold to test the record high,” Darren Heathcote, head of trading at Investec Australia, told Reuters.
Ousted Egyptian dictator Hosni Mubarak reportedly used the 18 days of protests against his rule to move his fortune – estimated at up to $64 billion – to untraceable accounts in Western countries.
Other countries buying large amounts of gold include Iran, China, Russia and India, the Times said.
The United States holds the world’s biggest gold reserves – 8965.6 tonnes, according to the World Gold Council.
Other countries with massive stockpiles include Germany with 3749.8 tonnes, China with 1161.9 tonnes, India with 614.8 tonnes and Venezuela with 401.1 tonnes.
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i am going to call bullshit on this one..i think its disinfo to scare us..he might have more than 143T 
401
Damn I’m jealous! If there’s 9000 tons in the US, I sure as hell hope it’s in the right hands…
9k sounds like a lot
401, I actually, physically was “panning for it” the other day. It is one of the ultimate treasure hunts…a lb. of “color” is lot! for that matter an oz. is alot if your panning. It is very difficult to get quantities like that in a 100 years…but people have been doing it for centuries.
would love to do some of that..are you in “gold” country?
401…”Big Sky” country… that’s your next hint in the elusive search for “color”. use your wits and tech to locate and reveal “Big Sky” country…do that and another tidbit will be revealed…
PS. you need to research something different for an hour or 2…”All work and no play makes Jack a dull boy.”
You can research who said that one also!
was that marilyn monroe
Mmore than half of the S tates gold belong to G ermany oh not ‘they’ spewnd it and put fake gold bricks
Seek cover the story “gata” at while back
yeah tungsten gold
That is a very true and sad deal…It is also being done to silver bars.
[...] a beaten and destroyed Libya next door they can march in and take what is left of Gaddafi’s reported 143 tons of gold! When that happens all of the necessary components for a military strike on Israel will be in [...]
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[...] With a beaten and destroyed Libya next door they can march in and take what is left of Gaddafi’s reported 143 tons of gold. When that happens all of the necessary components for a military strike on Israel will be in [...]
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