Here we are possibly just a short time away from Libya’s “people” ousting Gaddafi and installing a new government in war torn Libya.
What happens to a nation’s assets when a takeover happens in a third world country. Well, my research indicates pretty much everything is up for grabs. Therefore; whoever can grab and hold or sell and hide the assets wins the asset grab race.
Let’s look at Libya. Strong rumors in past years were afloat that Ghaddafi had been buying as much gold as possible and as of late has a sizable sum of gold in storage. Some think that Ghaddafi was planning on starting a Muslim currency which he hoped some day would be used to trade (buy) oil.
Now we look at the price of gold. Gold is at an all time high $1,875.
Now we look at who would and could get to Ghaddafi’s gold. The same organization(s) that could help drive gold to new all time highs.
After the Gold is seized in Libya and put up for sale and sold be very careful to watch out for a price drop in the price of gold. Spot traders trading to the upside use stops.
Then again maybe all this is a coincidence.
Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.