Gaddafi shot? Swiss Assets Frozen, Oil Prices Drop

Anissa Ford's picture

There is an unsubstantiated rumor that Moammar Gaddafi has been shot. But earlier today, a former Gaddafi aide said that Gaddafi was more like Hitler and would likely commit suicide before conceding his power.

Gas prices are at the highest the nation has seen in years, but today the barrel dropped $3 dollars to a little under $97 per barrel. A United States federal official who would not release his name stated to NBC News that there is no reason to believe rumors that Gaddafi is dead or wounded are true.

The violence in Libya has escalated gas prices and upset the stock markets. Since the rumor of Gaddafi's being shot, stock prices have shot up and oil prices have dropped.

The world will not know for hours whether or not something has indeed happened to Gaddafi.

The Swiss Department of Foreign Affairs said it would freeze all of Gaddafi's assets. CNBC reported today that Libya has a secretive sovereign wealth fund with $32 billion in cash with several US banks each managing up to $500 million. A confidential diplomatic cable obtained by Wikileaks revealed the details.

In that cable, there was a January meeting between the US Ambassador in Tripoli and the head of the Libyan Investment Authority.

The United States and European governments were "exploring the possibility" of freezing assets belonging to the Libyan government, but Switzerland has announced that it has definitely seized Gaddafi's assets.

As of 4pm CST, cable news networks are not reporting the story of Gaddafi being shot or hurt. Gadaffi has been using mercenaries to kill protesters.

Gaddafi blames the uprising in Libya on Osama bin Laden and drug use among young people.

Image source: Wikipedia

Add new comment