Ellen Brown: IS Libya all About Oil, or Mostly About Banking?

Several writers about the situation in Libya noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank, before they even had a "government". Robert Wenzel wrote in the Economic Policy Journal: "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 more than a rag tag bunch of rebels running around, and that there are some "pretty sophisticated" influences. On the other hand, 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 designation 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 monetary head- quarters in Benghazi. Newman quoted CNBC senior editor John Carey, who asked: "Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how powerful central bankers have become in out era."

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