Libya’s Questionable Future

By Greg Hunter’s

Gaddafi’s reign is over.  I am happy for the people of Libya, but I am not as jubilant as the crowds I see partying in the streets.   I wonder if the country will go from a dictatorship to a theocracy steeped in radical Islam.  I say this because in the early days of the rebellion, there were many reports that connected the rebels with al-Qaeda.  I quoted one source in a post I did earlier this week where the headline read “Libyan rebel commander admits his fighters have al-Qaeda links.”  (Click here for the complete original post.)  This was not some one-off story by a single source.  A quick Google search showed legitimate news organizations such as The Telegraph, CBS, FOX, Washington Times, Reuters, Huffington Post and LA Times all did versions of rebels in Libya being linked to al-Qaeda.

This makes me wonder, did the U.S. (through NATO) give al-Qaeda its own country?  If so, why?  Al-Qaeda is not going to spill its own blood and simply leave for another war someplace else.  They will want something for toppling Gaddafi, and that is, undoubtedly, power and control in the country they just helped take over.  I know the argument that some in the MSM are putting forth about why the U.S. and NATO allies wanted Gaddafi gone.  Gaddafi was a bad man who killed lots of people.  Rachel Kleinfeld wrote a post for CNN recently that said, “. . . Moammar Gadhafi is a dictator who bombed and shot Westerners in attacks that stretched from London to Berlin to an airplane over Scotland — all the while keeping horrific wars alive across Uganda, Liberia and other parts of Africa. He was working on nuclear weapons just a few years ago. It’s worth some effort from the U.S. — again with allies — to get this country governed right, or we will surely be investing far more to prevent or contain future wars in the region.”  (Click here for the complete Kleinfeld post.)

Ok, fair enough, but if Gaddafi was so bad, why did the Federal Reserve allow Libya to get dozens of emergency loans totaling billions of dollars for months after the financial crisis in 2008?  (Click here to read one of the many stories on the Libyan loan story.)  What gives?  And what about the central bank the “rebels” in Libya started shortly after the rebellion?  What purpose does this serve?  (Click here for more on that story.)  Another question, where is Libya’s gold?  It had 143.8 tons, which is no small amount considering financial powerhouse United Kingdom has a little over 300 tons of the yellow metal in its vaults.  (Click here for more on that story.)

This so-called rebellion seems to be orchestrated by foreign powers, and I do not think their goal is to help the Libyan people.  Let me tell you, they are going to need some help.  One third of the population is under the age of 15, one half is under the age of 30, and unemployment is running at 20%.  Young people with no work and no future is a nasty recipe.  Yes, Libya has oil, but that industry cannot employ everyone.

There are calls for help right now by the National Transitional Council (NTC) in Libya to release some of the $37 billion that was frozen at the beginning of the conflict.  I hope they will get all their assets unfrozen, but even that will not be enough to quickly turn Libya around.  Where will the billions come from for rebuilding and creating jobs?  Europe and the U.S. are up to their necks in debt problems, and jobs are needed on those continents.   I do not have the answers to the questions, but I do question Libya’s future.

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  1. Glenn

    Greg, Libya’s story is nothing more than a rape of its assets by the UK and US. Its gold is probably sitting in the vaults of the COMEX as well as the billions of Gaddafi’s wealth which are now sitting on the balance sheets of US and UK banks. But he’s a tyrant who must go. Funny how he’s reigned for over 40 yrs without a peep until now. I can only wonder who’s on the hit list next for the anglo banksters.

    • Greg

      Art, Glenn,
      I have bad feelings all the way around about Libya. This is going to come back to Bite the U.S. and NATO in the butt!

      • toneman

        Greg, so who is putting up the $2?million bucks for the capture of Momar? NATO? Good Ol’ USA? WHO? Libya will end up in “worse” chaos than Iraq after Sadam was captured. I know USA officials mean well, but why can’t they just mind their/our own business? Aren’t there enought things to do right here at home?? Nosy bizibodies.

        • Greg

          It was reporeted it was some Libyan ” businessman, but who knows? Thanks for checking in!

    • MasterLuke

      I agree that this is a rape of Libya’s assets but i’m glad to see Gadafi go [This will prob bite me in the ass because some osama buddy will take over].

  2. Art Barnes

    Greg, lets face it, this Lybia matter cannot turn out anything but bad. What was the emergency to topple the colonel at this point, after 30 years or more of terror support? I just don’t get it. If there is a plan its going to be more than just problematic. If there was no real plan, which is probably about 95 percent correct, then Lybia could turn in any direction, including as you said, government by a muslim theocracy, another Iran – thanks U.S. State Department for this one. Another thing, where is the MSM asking any of the above questions and or the esteemed leaders of the republicats on the campaign trail? I can’t see how the US can continue to play the role of a superpower with such dyfunctional long range plans and goals.

  3. Ambrose


    Libya will just become another Iraq – a chaotic country with no real leader. As Gadhafi lost control of the country and flee for his life, there will be a struggle of power and control of the government. Military might take over the government, rebel leaders might fight against each other for power, or foreign countries might assist the Libyan people to set up a Western-friendly dummy government. I predict that there will be multiple short-term administrations in Libya in the coming years.

    Foreign countries helped the Libyan people to throw out Gadhafi for different reasons. The oil resources of Libya would be a very good reason. Setting up a Western-friendly ally would be another. Also, U.K. will not hand over the 300+ tons gold to Libya unless the country is stabilized and there is a legitimate government recognized by the U.N. I don’t think it will happen anytime soon.


  4. Timmr

    I like your cartoon showing the “anti-war” Pres Obama flying yet another confusing mission! Where is the MSM regarding Obama’s pro-war stance? Is Syria next?

  5. Jan

    The Western nations are counting on a Democratic regime according to this article:,1518,782359,00.html

    All are drooling over oil and being highly paid for rebuilding the country.

    I feel for the people, they may very well end up much worse off. No one knows if the Rebels will turn on the people and the countries involved in helping them. The Rebels could tell all Western interest to get the hell out.

  6. Jeff C

    I really wonder about the 140+ tonnes of Gold. Is that going to be used to pay back the Gold that Chavez wants? (the Venezuelan Gold is probably leased out to multiple parties and JP Morgan is one of the big banks that has tohand it over.) I think there is more going on here than we know about and it isn’t good.

    Like you, Greg – I find the connection to Al Queda very disturbing. We may be facing another radical Islamist State in North Africa – and – we may have helped put them in place. What is worse – the devil you know or the one you don’t?

    Again – I believe the Libyan Gold story is tightly interconnected with the desire by the NATO powers to go in.

    There’s a whole lot more going on there and I don’t get the feeling that itslikely to turn out well.

  7. Jerry Frey

    The downfall of Muammar Khaddafi’s autorcratic regime can be considered the apogee of the Arab Spring, until the fall Bashar al-Assad, the Syrian dictator, which is unlikely. So far, the aspirations of the Arab street have been largely unrealized. The following articles describe the new/old reality in Arab lands, especially the developing dynamic between Israel and Egypt.

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