I hadn’t noticed it before, but on March 22, Bloomberg reported that, Libyan Rebel Council Forms Oil Company to Replace Qaddafi’s
Well, we’ve grown to expect things like that. The more interesting development reported in the article was this:
The Council also said it “designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.”
Amazing! Grab the oil and grab control of the money machine.
For some interesting commentary on these developments read this article: America’s true reason for attacking Libya becomes clear with new central bank, , and this article: Wow That Was Fast! Libyan Rebels Have Already Established A New Central Bank Of Libya.
The government of Greece is only the latest entity to stagger under the ever-increasing global load of debt. Virtually everyone (individuals, companies, and governments) is caught in the usury trap. Only the members of the banking cartel who create the debt-based money in every country of the world (and their cronies) are exempt. They are our creditors.
In his latest four-minute update, Congressman Ron Paul again explains the real purpose of central banks (like the Federal Reserve), the way in which they collude to steal wealth from the people, and the ultimate disaster that is on the horizon. — t.h.g.
As the global financial meltdown continues government and banking authorities become ever more desperate to preserve their flawed system of money and banking, using means of control that are increasingly despotic. Now they want to draw a more opaque curtain around their money manipulations to prevent people from taking effective action to protect themselves. For the past 165 years the Bank of England has been obliged to publish a weekly account of its balance sheet. This has at least made its inflationary actions visible and may have deterred it from more extreme abuses of the currency. Now they want to be relieved of this minimal obligation of transparency. This was reported in an article by Edmund Conway that appeared in the Telegraph of London on Saturday, January 10, 2009. In the subhead Conway says, “The Bank of England will be able to print extra money without having legally to declare it under new plans which will heighten fears that the Government will secretly pump extra cash into the economy.”
In addition to further bailouts of banks by governments around the world, we can expect ever more legislation aimed at sustaining the flawed money and banking system. That will include greater secrecy and more odious legal limitations on private initiatives that are seen as competing with conventional money and banks. We’ve seen it all before. That’s why a study of the history of money and banking is so important. – t.h.g.