Skip to main content

Wow That Was Fast! Libyan Rebels Have Already Established A New Central Bank Of Libya

The rebels in Libya are in the middle of a life or death civil war and Moammar Gadhafi is still in power and yet somehow the Libyan rebels have had enough time to establish a new Central Bank of Libya and form a new national oil company.  Perhaps when this conflict is over those rebels can become time management consultants.  They sure do get a lot done.  What a skilled bunch of rebels – they can fight a war during the day and draw up a new central bank and a new national oil company at night without any outside help whatsoever.  If only the rest of us were so versatile!  But isn’t forming a central bank something that could be done afterthe civil war is over?  According to Bloomberg, the Transitional National Council has “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.”  Apparently someone felt that it was very important to get pesky matters such as control of the banks and control of the money supply out of the way even before a new government is formed.
Of course it is probably safe to assume that the new Central Bank of Libya will be 100% owned and 100% controlled by the newly liberated people of Libya, isn’t it?
Most people don’t realize that the previous Central Bank of Libya was 100% state owned. The following is an excerpt from Wikipedia’s article on the former Central Bank of Libya….
The Central Bank of Libya (CBL) is 100% state owned and represents the monetary authority in The Great Socialist People’s Libyan Arab Jamahiriya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in accordance with the general economic policy of the state.
Read more: Here
Labels:

Comments

Post a Comment

Popular posts from this blog

Are the new FSC fire-safe cigarettes making smokers sicker than ever?

After lighting up are you experiencing more headaches, stomach cramps or a coppery taste in your mouth? Does your new FSC (fire-safe cigarette) taste bad, cause dry mouth and are you coughing more? New York State was one of the first states to require that cigarettes be made with the new fire-safe paper. This paper is constructed by gluing two or three thin bands of less-porous paper together with an ethylene vinyl acetate copolymer emulsion based adhesive (carpet glue). These papers have bands (see image) that act as speed bumps, so if the cigarette is left unattended it will self-extinguish. The coalitions that passed these laws believe that these cigarettes would limit the number of cigarette fire deaths. Though this law was passed in 2004, the number of deaths caused by fires from cigarettes hasn’t been greatly reduced, but complaints from smokers all over the U.S have multiplied. Symptoms include: Nausea, sores in mouth and throat, dry throat, constant headaches, extreme co...
2 comments
Read more

Climategate Still The Issue as Carbon Pope Lauds Corrupt Climate Science

The deliberate corruption of climate science and abandonment of the scientific method is an irrefutable scandal of public record.   The Laudato Si’ (PDF): It’s more than a disgrace that the Vatican would censor alternative climate perspectives by highly respected scientists from inclusion in the Pope’s “Laudato Si’.   Instead, only the most radical ideologues from the extreme corners of the carbon debate were allowed to advise the Pope.  Reading the “Laudato Si” could give the uneducated a false impression that the Pope is a qualified climatologist speaking in the first person from his own career of research and published work. Read more: here
Post a Comment
Read more