Category Archives: The Political Money System

There are a lot of things about the turmoil in the Middle-east and the current assault on Libya that don’t quite add up. Here is one version of the truth that seems plausible. We’re all aware by now of the competition amongst the major power to secure oil supplies, and that oil is the primary reason behind the American war against Iraq.

Could it be that the burgeoning growth of Islamic finance has something to do with the policies of the Western powers in the Arab and Islamic world? Based as it is on funding without interest/usury (riba), true Islamic finance  is bound to eventually threaten the power of the banking establishment. –t.h.g.

The Truth About Libya

By Stephen Goodson 4-1-11

Colonel Muammar Gadaffi is frequently referred to in the media as a “mad dictator” and “bloody tyrant”, but do these allegations accord with the facts?

Libya consists of over 15O tribes, with the two main groups, the Meghabra living in Tripolitania in the west and the Wafallah living in Cyrenaica in the east. Previous attempts to unite these tribes by the Turkish (1855-1911) and ltalian {1911-43) colonial rulers failed and the country was split in two for administrative purposes.

Oil was discovered in Libya in 1959, but King ldris of the Senussi tribe allowed most of the oil profits to be siphoned into the coffers of the oil companies. The coup d’etat on 1 September 1969 led by Colonel Gadaffi had countrywide support. He subsequently married a woman from the royal Barqa tribe and adroitly unified the nation.

By retaining Libya’s oil wealth for the benefit of all its people, Gadaffi had created a socialist paradise. There is no unemployment, Libya has the highest GDP in .Africa, less than 5% of the population is classified as poor and it has fewer people living below the poverty datum line than for example in Holland. Life expectancy is 75 years and is the highest in Africa and I0% above the world average.

With the exception of the nomadic Bedouin and Tuareg tribes, most Libyan families possess a house and a car. There is free health care and education and not surprisingly Libya has a literacy rate of 82%. Last year Gadaffi distributed $500 to each man, woman and child (population 6.5 million).

Libya has a tolerable human rights record and stands at 61 on the International Incarceration Index, comparable with countries in central Europe (the lower the rating, the lower the standing – the USA occupies the no.1 spot!). There is hardly any crime and only rebels and traitors are dealt with harshly.

Anyone who has read Gadaffi’s little Green Book will realize that he is a thoughtful and enlightened leader. Libya has been accused of having committed numerous acts of terrorism in the past, but many of these have been perpetrated by foreign intelligence agencies as false flag operations – the Lockerbie bombing being a prime example.

The CIA and MI6 and their frontmen have been stoking up dissent in the east of the country for almost 30 years. Libya produces exceptionally high quality light crude oil and its production cost of $1 a barrel, compared to the current price of $115, is the lowest in the world.

Riba (usury) is not permitted. The Central bank of Libya is a wholly-owned by the Libyan Government and is run as a state bank, issuing all government loans free of interest. This is in contrast to the exploitative fractional reserve banking system of the West. The no-fly zone and the bombing of Libya have nothing to do with the protection of civilians. It is an act of war ­ a blatant and crude attempt by the oil corporations and international bankers to steal the wealth of Libya.

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