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Libya’s Col. Gadhafi is a Goldbug, And He’s Got Lots of Old Yeller

goingbrokegoingbroke Posts: 1,410
in Precious Metals
The Financial Times reports today that Col. Gadhafi is something of a goldbug. The Libyan central bank, which the FT says is under Col. Gadhafi’s control, has been hoarding gold. According to the IMF, Libya’s central bank has 143.8 tons of gold, putting it in the global top 25.

Col. Gadhafi’s gold stash is worth about $6.5 billion
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Comments

  • pf70collectorpf70collector Posts: 6,672 ✭✭✭
    It will all be seized. If caught, he will probably be hanged like Hussein. He has no where to go.
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  • goingbrokegoingbroke Posts: 1,410


    << <i>It will all be seized. If caught, he will probably be hanged like Hussein. He has no where to go. >>

    Lets hope they donate the gold to the members of C.U.F. !
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  • BearBear Posts: 18,953 ✭✭✭
    i DON'T KNOW WHY THAT GOLD CAN'T BE DISTRIBUTED AMONG THE FORUM MEMBERS?
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  • jmski52jmski52 Posts: 22,941 ✭✭✭✭✭
    They probably need that gold for the IMF.
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  • PerryHallPerryHall Posts: 46,283 ✭✭✭✭✭


    << <i>i DON'T KNOW WHY THAT GOLD CAN'T BE DISTRIBUTED AMONG THE FORUM MEMBERS? >>



    Great idea but it isn't going to happen. That gold will be used to rebuild after the civil war is finally resolved.

    Worry is the interest you pay on a debt you may not owe.
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  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭


    << <i>

    << <i>i DON'T KNOW WHY THAT GOLD CAN'T BE DISTRIBUTED AMONG THE FORUM MEMBERS? >>



    Great idea but it isn't going to happen. That gold will be used to rebuild after the civil war is finally resolved. >>



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  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    The Financial Times article cited by the WSJ refers to gold as being favored by criminals, investors, and dictators. Hmm....
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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