World Bank President Robert Zoellick Thursday said he hopes the institution will have a role rebuilding Libya as it emerges from current unrest. Zoellick at a panel discussion noted the bank's early role in the reconstruction of France, Japan and other nations after World War II.
"Reconstruction now means (Ivory Coast), it means southern Sudan, it means Liberia, it means Sri Lanka, I hope it will mean Libya," Zoellick said.
On Ivory Coast, Zoellick said he hoped that within "a couple weeks" the bank would move forward with "some hundred millions of dollars of emergency support."( By Jeffrey Sparshott, Of DOW JONES NEWSWIRES –full article here - tinyurl DOT com SLASH 3hj8yyp .)
We listen to U.S. spokespeople try to explain why we’re suddenly now entangled in another Middle East war. Many of us find ourselves questioning the official justifications. We are aware that the true causes of our engagement are rarely discussed in the media or by our government.
While many of the rationalizations describe resources, especially oil, as the reasons why we should be in that country, there are also an increasing number of dissenting voices. For the most part, these revolve around Libya’s financial relationship with the World Bank, International Monetary Fund (IMF), the Bank for International Settlements (BIS), and multinational corporations.
According to the IMF, Libya’s Central Bank is 100% state owned. The IMF estimates that the bank has nearly 144 tons of gold in its vaults. It is significant that in the months running up to the UN resolution that allowed the US and its allies to send troops into Libya, Muammar al-Qaddafi was openly advocating the creation of a new currency that would rival the dollar and the euro. In fact, he called upon African and Muslim nations to join an alliance that would make this new currency, the gold dinar, their primary form of money and foreign exchange. They would sell oil and other resources to the US and the rest of the world only for gold dinars.
The US, the other G-8 countries, the World Bank, IMF, BIS, and multinational corporations do not look kindly on leaders who threaten their dominance over world currency markets or who appear to be moving away from the international banking system that favors the corporatocracy. Saddam Hussein had advocated policies similar to those expressed by Qaddafi shortly before the US sent troops into Iraq. (read more)
