DUBAI (Mohamed al-Naeimi)
Since the start of the Libyan revolution on Feb. 17, Libya’s first lady Safia Farkash has not been in the limelight unlike her Tunisian and Egyptian counterparts even though she is known for her enormous wealth and considerable influence.
Safia Farkash owns an airline company called Buraq Air headquartered in the Mittiga International Airport in the Libyan capital Tripoli. Farkash operates the company with the approval of her husband even though it is a rival of the Libyan national carrier and monopolizes the transfer of Libyan pilgrims.Reports of Farkash’s wealth are varried, but one of the most widely-circulated reports suggests that the first lady owns 20 tons of gold.
News of Farkash’s wealth is in line with the Wiki Leaks documents which stated that Gaddafi is the head of a family that is powerful and rich, yet divided and dysfunctional.
According to Wiki Leaks, Farkash is generally low profile. She travelled in a rented plane and a procession of cars drove her from the airport to her destination. Even the banquet she held at the Bab al-Azizia compound, Gaddafi’s main headquarters, to celebrate the anniversary of the 1969 revolution was quite modest.
During the Lockerbie crisis, the International Coalition against War Criminals (ICAWC), based in France, revealed in 1992 that Gaddafi’s wealth had reached 80 billion U.S. dollars and that his wife’s was estimated at 30 billion.
Story of first ladySafia Farkash al-Baraasi is the second wife of Libya leader Muammar Gaddafi. She was born in the city of al-Baida in eastern Libyan and hails from al-Baraaesa tribe. They got to know each other when she worked as a nurse and he was admitted to hospital for an appendectomy in 1971. They got married the same year and had seven children, six boys and their only daughter Ayesha.
During the first years of their marriage, Farkash rarely made media appearances, yet in the past few years she started engaging in social activities like taking part in celebrating the 1969 revolution that brought her husband to power and attending the graduation of female police students in 2010.
In 2008, Farkash was elected vice president to the African First Ladies Organization in a meeting of African Union leaders in the Egyptian Red Sea city Sharm al-Sheikh even though she was not present at the meeting and has never taken part in activities related to it.
Several websites reported that Farkash and her daughter Ayesha landed in Germany on February 20, but no one denied or confirmed the news.
(Translated from the Arabic by Sonia Farid)
before election October 27 Oil value down by 0.7%, gold value down by 1.2%:
The New York Stock Exchange closed Wednesday with loses in oil and gold values. The price of oil was set at $81.94 per barrel, down by 0.7%. The price of gold was set at $1,322.6 per ounce, down by 1.2%.
As world leaders prepare to meet in Seoul this week, Robert Zoellick, president of the World Bank, said in a Financial Times op-ed piece that leading economies should consider “employing gold as an international reference point of market expectations about inflation, deflation and future currency values.”
and now? something unkosher is going on
A return to some sort of currency link to gold would be “practical and feasible, not radical,” Zoellick said. He made the proposal as part of reforms to be considered ahead of the Group of 20 meetings in South Korea. Read more about Zoellick’s comments
That gold didn’t rise early Monday after Zoellick’s piece became the talk of the town “tells you the story,” said Bill O’Neill, a principal at Logic Advisors in New Jersey.
“The gold standard is not going to happen anytime soon,” he said. To pull off something as daunting and complicated in modern-day financial world would require a concerted political will that just isn’t there, O’Neill added.
Such a system could stabilize gold and turn what is still a thin market into a more orderly one, said James Cordier, a portfolio manager at Optionsellers.com in Florida. Currencies would also benefit, he added.
“We’d have our paper [money] tied to something,” he said.
Meanwhile, silver continued to rally to 30-year highs, pushing toward $27 an ounce. Silver for December delivery /quotes/comstock/21e!f1:si\z10 (SIZ10 2,760, +85.20, +3.19%) added 8 cents, or 0.3%, to $26.83.
Copper for December delivery added one cent, or 0.2%, to $3.96 a pound.Claudia Assis is a San Francisco-based reporter for MarketWatch.
SAN FRANCISCO (MarketWatch) — Gold futures overcame initial weakness to hit a record high Monday, soaring beyond $1,400 an ounce.
Gold for December delivery /quotes/comstock/21e!f:gc\z10 (GCZ10 1,406, +8.60, +0.62%) added $7.20, or 0.5%, to $1,405 an ounce on the Comex division of the New York Mercantile Exchange. It touched an intraday high of $1,407.20 an ounce.
Gold began floor trading in the red, losing as much as $10 from Friday’s settlement close as the dollar rose.
Euro concerns pressure stocks
QE2 worries are replaced by renewed concerns over European sovereign debt, leading U.S. stocks lower. Donna Kardos Yesalavich, Kathleen Madigan and George Stahl report.
The metal pared its losses, however, as renewed worries about Europe’s debt woes took center stage.
The cost of insuring Irish debt against default ballooned Monday, and the cost of insuring Portuguese debt also widened to a record. Read more about Portuguese and Irish CDS
The gold contract’s Friday settlement at $1,397.70 an ounce was a record finish for the metal. Silver and copper also hit historic high marks.
The catalyst was the Federal Reserve’s decision to embark on a fresh round of bond buying, to the tune of $600 billion over eight months. This gave investors a fresh reason to sell the dollar.
The dollar traded stronger to kick off the week, however, pressuring commodities to start. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 76.95, +0.40, +0.53%) , which tracks the performance of the greenback against a basket of six rival currencies, rose 0.5% to 76.94.
The euro weakened as bonds from Greece, Ireland and Portugal came under pressure — a fresh flare-up of the sovereign-debt problems Europe has faced for much of the year. See more on how dollar rises as debt fears weigh on euro.
In the past Ron Paul has never been on my radar. Sure there were the anti-black/ anti-Semitic Newsletters which were published under his name (which he claimed he never read). And yes there were those really whacko public statements like; the federal reserve was behind Watergate, that Lincoln was wrong to push us into a Civil War over slavery, or his assertion that condemning the HAMAS terrorist rocket attacks promotes violence. But those items only suggest that the Texas Republican Congressman is a bigot as well as a bit of a lunatic, which not bad by today’s congressional standards.
Ron Paul is believed to be a “fiscal conservative” and if you ask him he will tell you that he has never voted for an earmark. That statement is 100% correct. What Paul does is make sure that he earmarks that he wants are put in a bill, and then votes against the bill. Its the best of all possible worlds. He gets to bring home the bacon on a local basis and makes the anti-earmark claim on a national basis.
In fiscal 2009 Ron Paul sponsored or co-sponsored 23 earmarks totaling $80,775,750 ranking him the 33rd highest out of 435 representatives. (source: Open Secrets):
Last April Paul appeared on Neil Cavuto’s Fox News show to defend his earmarks.
CAVUTO:Congressman, the rap is that you’re a porker, that — that a lot of pork, $73 million-plus, went to your district. Is that true?
REP. RON PAUL, R-TEXAS: Well, it might be. But I think you’re missing the whole point. I have never voted for an earmark. I voted against all appropriation bills. So, this whole thing about earmarks is totally misunderstood.
The Congressman believes that the earmarks are just fine as long as he is open about them. It reminds one of the Gangster Big Julie, a character in the musical Guys & Dolls, who best line in the play was
“Well, I used to be bad when I was a kid, but ever since then I’ve gone straight, as has been proved by my record: Thirty-three arrests and no convictions!”
These earmarks may very well be legitimate programs, but by specifying the location and the recipient of the program there is no thought given to “is this the most efficient place to house this program?” Money can be sent to a place that does not have the best resources or personnel to implement the earmark, causing a program to be more expensive than if it were done in someone district of a different congressman.
Paul may be very transparent about the hypocrisy of requesting an earmark then voting against the bill (because he knows it will pass), but his twisted logic doesn’t make it any less hypocritical.
Whenever I post something negative about Ron Paul (which is just about every time I post about him), I get the NASTIEST comments and emails. He doesn’t have a lot of supporters but those that do are very well organized and support him do so with a passion. When I saw them at CPAC, Paul supporters reminded me of those wide-eyed cult members that used to panhandle at airports. That wasn’t particularly bothersome, after all people should have some passion. Problem is Ron Paul does not represent himself truthfully. Along with his history of being a “drooling crazy” type and a bigot, the man is the typical Washington DC spin-master, saying one thing but doing another. He has a good script but frankly we have all seen that movie before and it got old a long time ago.
a so called isolationist arbitrarily wants to have free trade with Iran? I might support him if he were consistent… but he isn’t.
“While some of Ron Paul’s supporters tried to claim that he would leave Israel, because he believes in respecting the sovereignty of other countries, in fact he attacked Israel for going after its kidnapped soldiers, something that was not taking place inside US borders. Essentially Paul was making the same argument then that Obama is making today, that Israel’s actions affect the US, which gives him the right to demand that Israel stop defending itself.”
not exactly a non interventionist either. just orchestrated prejudice.
his son Rand Paul has endorsed Adam Kokesh, which means getting in bed with Code Pink, a radical left wing org tied to Obama and Hamas of all things.
and strangely Paul is on Russian TV all the time. is he getting paid by foreign interests? I can’t prove it, but free trade with Iran sounds like someone is paying him something under the table.
forget all the hogwash and the theory… the Gold Standard was proven wrong by Ronald Reagan and there are better non virtual stabilizers.
forget all the racist papers written in his name that we are to assume that he was just naive.
forget the pictures with Stormfront’s Don Black and family
forget it all and you still have a hypocrite who pushes a double standard on http://xrl.us/Earmarks