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According to some it’s about protecting civilians. Others say it’s about oil. but some are convinced intervention in Libya is all about currency, specifically Gaddafi’s plan to introduce the gold dinar, a single African currency made from gold; a true sharing of the wealth.

It’s one of these things that you have to plan almost in secret, because as soon as you say you’re going to change over from the dollar to something else, you’re going to be targeted. There were two conferences on this, in 1996 and 2000, called the World Mathaba Conference, organized by Gaddafi. Everybody was interested, I think most countries in Africa were keen.

Gaddafi did not give up. In the months leading up to the military intervention, he called on African and Muslim nations to join together to create this new currency that would rival the dollar and euro. They would sell oil and other resources around the world only for gold dinars. It is an idea that would shift the economic balance of the world. A country’s wealth would depend on how much gold they have and not how many dollars they trade. And Libya has 144 tons of gold. The UK has double that, but ten times the population.

If Gaddafi had an intent to try to reprice his oil or whatever else the country was selling in the global markets and accept something else as a currency, or maybe launch a gold dinar currency, any move such as that would certainly not be welcome by the power elite today who are responsible for controlling the world’s central banks. So yes that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forth for removing him from power.

It’s happened before. In 2000 Saddam Hussein announced Iraqi oil would be traded in euros and not dollars. Sanctions and an invasion followed. Some say because the Americans were desperate to prevent OPEC from transferring oil trading in all its member countries to the euro. A gold dinar would have had serious consequences for the world financial system, but also may have empowered the people of Africa, something black activists say the US wants to avoid at all costs.