There is a currency war going on. It has not gone to the full escalated war. There are many smaller battles. Libya is just one of them. (See the website at the end of the link.)
The Fed Reserve bailouts to other countries was more of a bribe to keep loyal to the U.S. dollar. While China has been doing actual investing in other countries. A great example is the water project in Libya.
I have mentioned the BRIC before. This is changing to BRICS. Brazil, Russia, India, China and now South Africa. This could easily become the new world currency and petro dollar.
I am wondering how long it will take before Brazil and South Africa will at least have a dialogue with the Shanghai Cooperation Organisation. (Yes, it is spelled with an "s".)
What is the future for the U.N.???
"On 26 October 2005 the SCO Heads of Government (Prime Ministers) Council officially announced the creation of SCO Interbank Consortium and signed the Agreement on the IBC.The members of the IBC are as follows: the Development Bank of Kazakhstan, the State Development Bank of China, the Bank for Development and Foreign Economic Affairs (Vnesheconombank) of Russia, the National Bank of Tajikistan and the National Bank for Foreign Economic Activity of Uzbekistan."
I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences.Alex Newman wrote in the New American:
In a statement released last week, the rebels reported on the results of a meeting held on March 19. Among other things, the supposed rag-tag revolutionaries announced the "[d]esignation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi."http://www.atimes.com/atimes/Middle_East/MD14Ak02.html