LONDON, 22 March 2011 - World Business News from the BBC World Service tonight featured a two-minute interview with BullionVault head of research Adrian Ash about rumours that the Gaddafi regime is using Libya's gold reserves to pay the dictators' mercenary army.
"Gold is about economic freedom," explained Adrian, "and sometimes that's an advantage for dictators like Gaddafi, and sometime that plays to the advantage of private individuals in terms of personal liberty."
Citing the "cash and carry" gold transfers made by Great Britain to help buy food and arms material from the United States during the first two years of WWII, "Gold is the ultimate means of payment," Adrian went on, also highlighting Nazi Germany's ability to make international purchases using gold bullion.
Right now, however, the Gaddafi regime is more likely to be paying its mercenary troops with cash - "physical Dollar and Euro notes" - since they will be more readily accepted at first, he believes.
You can download the full interview at the BBC World Service site here...
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