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Rumors Circulate That Ghadaffi Has Been Shot

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Reuters

Feb 24 (Reuters) - Brent and U.S. crude oil futures fell sharply in post-settlement trading on Thursday in a sell-off sparked by rumors that Libyan leader Muammar Gaddafi had been shot.

In London, ICE Brent crude for April delivery LCOJ1 dropped to a post-settlement low of $109.60 after having rallied early to $119.79, the highest since August 2008. It settled earlier at $111.36, up 11 cents.

On the New York Mercantile Exchange, April crude CLJ1 slid further to $95.64, down $2.46. It had settled earlier at $97.28, down 82 cents, after touching $103.41, the highest since September 2008.

If so, then good riddance.

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Reuters

If so, then good riddance.

I won't believe it until I see photographic evidence on Al Jazeera. It is more likely that a hedge fund has shorted brent futures and wants to get out.

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Would the death of Gaddafi spook the markets any more? He seems to be on the way out anyway, he might start a civil war or he might be captured and shot or put on trial and then executed. Whichever way, I imagine that the end of Gaddafi's rule is now factored in to crude oil prices.

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Gaddafi son at heart of British society

A meeting between a dictator's son and a senior Cabinet minister at a classic English shooting party revealed how deeply the Gaddafi regime wormed its way into the British Establishment.

The weekend took place in 2009 at Waddesdon Manor, the Buckinghamshire home owned by financier Jacob, 4th Baron Rothschild.

Saif al-Islam Gaddafi was a guest of financier Nat Rothschild and Lord Mandelson, the former business secretary who was virtual deputy to Gordon Brown. The peer and Saif are said to have got on well and met again at the Rothschild holiday home in Corfu, where Lord Mandelson stayed for a week and discussed the case of Lockerbie bomber Abdelbaset Ali al-Megrahi, who was freed days later.

Saif is Muammar Gaddafi's third son and heir apparent. LSE educated, he owns a home in Hampstead with eight bedrooms, indoor pool, sauna and cinema. Last year Saif claimed Tony Blair was a "personal family friend" who had visited Libya many times, becoming an adviser to Colonel Gaddafi over the fund that manages Libya's £65 billion oil wealth.

Other key business links include Sir Mark Allen, a former MI6 officer who moved into BP, and Margaret Thatcher's former policy aide Lord Powell, whose companies have invested in Libyan hotels and offices.

The Gaddafi family is believed to have stashed most of its wealth in Dubai, south-east Asia and the Gulf, where banking is more secretive than in Britain. The Libyan Investment Authority owns three per cent of Pearson, which owns the Financial Times. Its property includes a retail complex in Oxford Street.

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Britain sent sniper rifles to Gaddafi just before his troops began killing

Britain approved the export of sniper rifles to Libya just months before marksmen began murdering protest- ers in Tripoli.

An export licence was granted to let "a small quantity" of deadly long-range weapons be shipped out in November for exhibition or testing. Four licences were approved for the rifles, along with assault rifles and semi-automatic handguns, with cleaning kits.

They were signed off by officials in the Department for Business and it was unclear today whether ministers were involved in the decision.

Business Secretary Vince Cable told the Standard: "It is essential to stop arms exports where this could be used to suppress human rights and democratic protests and also fuel regional conflict." He said he was "certainly surprised" about the export licences, particularly in the case of sniper rifles.

He indicated that he would insist on tougher future curbs over exports to controversial regimes, saying: "We are where we are and have to act correctly from here."

Horrific wounds among Libyan demonstrators, including limbs ripped off, are consistent with the impact of a high-velocity round from a sniper rifle.

Following calls from the Standard, the Department for Business was this morning contacting the firms involved to establish whether the British weapons were sent back, as required under the licence conditions.

Last week the department suspended export licences to Bahrain and Libya after concern at attacks of protesters.

These licences included tear gas but the department was unable to say this morning whether tear gas was exported to Libya. The Business Department was unable to give details of who signed the export licences and when. A spokeswoman said she understood that decisions were delegated to officials.

The department would not say which companies were involved as this was "commercially confidential". Britain's top manufacturer of sniper rifles, the Portsmouth-based Accuracy International, said it was not involved.

Labour today called on the Government to freeze Colonel Gaddafi's overseas assets. Shadow foreign secretary Douglas Alexander said an agreement on sanctions should be pursued via the European Union.

"The Government appeared slow to act on freezing assets misappropriated from the Egyptian people," he said. "They should now be urgently seeking agreement in Europe to freeze assets of the Libyan regime."

The Treasury said the Government could freeze assets owned by a foreign leader but only after a United Nations or EU vote to impose sanctions, a request from the country involved or a Home Office decision that action was needed to prevent terrorism against Britons.

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Qaddafi forces shoot hospital patients

A resident of the increasingly violent Libyan capital of Tripoli told CBS Radio News Thursday that armed supporters of Muammar Qaddafi, the country's longtime leader, have stormed into hospitals to shoot wounded demonstrators and take dead bodies to an unknown location.

"They go in with guns into hospitals," said the resident, identified only as Adel to protect his safety. "They take the bodies that are dead. In some hospitals, they have shot the wounded. This is true. I know it's very strange for the States, but this is happening today in Tripoli."

Because the situation in Libya is growing more dangerous day by day and reporting from the country is difficult for Western journalists, the statements Adel made to CBS Radio News could not be independently verified.

In one example of the violence in Libya, Adel said he saw 62 protesters killed and about 100 more wounded in Tripoli's Green Square Tuesday.

"They're putting the bodies on half pickup trucks, and they're taking them somewhere we don't know yet because they don't want these bodies to go into hospitals," Adel said.

That's not the only action being taken to cover up what is happening in the capital, Adel said. Armed pro-government supporters Thursday were forcing people to help clean up parts of downtown Tripoli and paint buildings.

"There are some streets where he's using the people in the houses; if they don't go out, he will shoot them with gunpoint to do that," Adel said.

What the protesters want most from the international community is the establishment of a no-fly zone over Libya, Adel said.

"The guys are using helicopter gun ships to shoot people, shooting not bombing," Adel said. "It is terrifying. It takes a lot of pushing your guts to go out, but you have to."

The situation in Tripoli continues to deteriorate, Adel said. Because shops are running low on basic supplies, lines more than 1,000 yards long form outside bakeries that do have food to sell.

"It's very unsafe," Adel said. "They have cars where mercenaries are shooting at random. Trying to keep a low profile, only at night do we move out to do the demonstrations."

One thing protesters reportedly face is so-called thugs being flown in from other countries. Adel said he noticed increased activity at the air base near where he lives.

"The amount of planes that are coming in are tremendous," Adel said. "They're flying them through ... and taking helicopters around to other places around Tripoli. Most are Africans."

Also, the so-called "hallucination pills" that Qaddafi mentioned in a rambling speech Tuesday are being handed out during protests, Adel said. However, they aren't being distributed by foreign instigators, as Qaddafi said, but by the leader's own supporters.

"His people are giving them for free," Adel said. "Not to the demonstrators against him, to anybody who wants to take them or his people or the drunks or the thugs."

Oh well. To bad they won't lock up the scumbag merc providers from our shores, or the weapons manufacturers, etc...

The hospital shooting thing smacks of the old baby incubator crap spewed about Sadman Hoosay'n.

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You are thinking of Chavez, non-dictator, ...

Not sure you can be so black-n-white about that. The guy expropriates people's property and jobs - on TV! And yes, you can complain, even on TV, but you'll wind up in jail. Still he is submitting to the test of an election .. we have to hope it's free and fair.

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Oh well. To bad they won't lock up the scumbag merc providers from our shores, or the weapons manufacturers, etc...

The hospital shooting thing smacks of the old baby incubator crap spewed about Sadman Hoosay'n.

On the point of dictators' sons - this article has some interesting points about Gamal Mubarak, formerly of Bank of America:

http://www.nakedcapitalism.com/2011/02/matt-stoller-the-egyptian-labor-uprising-against-rubinites.html

Not sure on the writer's view that Egypt was basically an uprising of labour. What do I know? I am sure there's a tendency to make up familiar stories from patchy facts.

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Would the death of Gaddafi spook the markets any more? He seems to be on the way out anyway, he might start a civil war or he might be captured and shot or put on trial and then executed. Whichever way, I imagine that the end of Gaddafi's rule is now factored in to crude oil prices.

not spooked, prices falling are a good thing - prices fall on news like this because it would mean a return to peace and stable oil production.

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not spooked, prices falling are a good thing - prices fall on news like this because it would mean a return to peace and stable oil production.

eh? A power vacuum = a return to peace?

A bunch of "who knows who is in charge" will be able to effectively administrate oil production?

I really will never understand this market thingy

My prediction....... if this is true, tomorrow they will realise that this is not a sign of stability and the oil price will bounce back with a vengance!

I sort of understand why the pound strengthens on high inflation news (the implied imminent (albeit fanciful) application of higher interest rates, right)? but this???

Gadaffi seems to have been the wests bessie mate of late.

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The hospital shooting thing smacks of the old baby incubator crap spewed about Sadman Hoosay'n.

I was thinking that before I read your comment. Rumours are just that - rumours.

I wouldn't put it past Gaddafi though.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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