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Tuesday, March 29, 2011

Wow That Was Fast! Libyan Rebels Have Already Established A New Central Bank Of Libya http://theeconomiccollapseblog.com/archives/wow-that-was-fast-libyan-rebels-have-already-established-a-new-central-bank-of-libya

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.Since the old Central Bank of Libya was state owned, it was essentially under the control of Moammar Gadhafi.But now that Libya is going to be "free", the new Central Bank of Libya will be run by Libyans and solely for the benefit of Libyans, right? Of course it is probably safe to assume that will be the case with the new national oil company as well, isn't it?

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