Gadhafi’s Gold-money Plan Would Have Devastated Dollar

According to more than a few observers, Gadhafi’s plan to quit selling Libyan oil in U.S. dollars — demanding payment instead in gold-backed “dinars” (a single African currency made from gold) — was the real cause. The regime, sitting on massive amounts of gold, estimated at close to 150 tons, was also pushing other African and Middle Eastern governments to follow suit.

http://www.thenewamerican.com/economy/markets/item/4630-gadhafis-gold-money-plan-would-have-devastated-dollar