Gaddafi’s Gold Reserves Among the Top 25 in the World

The international community has hit Muammer Gaddafi with a raft of sanctions and asset freezes aimed at cutting off his funding. But the embattled Libyan leader is sitting on a pot of gold. The Libyan central bank – which is under Colonel Gaddafi’s control – holds 143.8 tonnes of gold (among the top 25 reserves in the world, and worth more than $6.5 bln at current prices), according to the latest data from the IMF, although some suspect the true amount could be several tonnes higher. – FT

1 Comment on Gaddafi’s Gold Reserves Among the Top 25 in the World

  1. When he first came to power, Arma Hammer , Occidental Oil, & U.S.S.R. fame, branded Gaddafi a terrorist, in response to running out the foreign oil companies, but when he got caught receiving the centrifuges a few years back he got put in a vise, & his central bank is not very old, its fairly recently created it, because before 2003 there were only about 7 countries without a central bank, Libya, Iraq, et.al.!

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