What do you do when you need money to pay soldiers to fight your battles? You print more money. A cargo ship that was carrying £100 million (£163m US) was on its way to Libya and was set to apparently dock with Tripoli with its bulging coffers. However, the violent uprising in the city hampered the operation and the Antigua-registered ship was forced to turn back. It was the HMC Vigilant (UK Border Agency boat) that intercepted the ship as it crossed into British waters and escorted it into port at Harwich, Essex.
The currency had been printed at De La Rue, a company in Gateshead (UK) which is the only British company that prints cash on behalf of a foreign government. All the money was impounded. This seizure took place after a similar attempt by the Libyan government was foiled last week. That plan was for Qaddafi's allies to export £900 million dinars...a plan that was quickly quaffed by the Treasury.
The oilfields of note in Libya are in the hands of the opposition forces in the east and near Benghazi. However, all the money that comes from the oilfields is still being diverted to Tripoli and to Qaddafi and his forces. Countries are still buying oil from Libya. No sanctions have been placed on international banks, either.
But Qaddafi is still becoming more desperate as he attempts to find more avenues to fund his quest to maintain power. Bribery and hiring skivvies takes a lot of money. He has employed mercenary soldiers who are said to be from Chad, Niger and Sudan. These soldiers who have no allegiance to anyone but the god of money have been terrorizing the Libyan citizens, killing dissenters and entering homes in the middle of night to carry away anyone they have been ordered to take. Each mercenary is said to be paid £18,000 ($29,000 US) which is a small fortune to the men who were recruited out of their own economically ravaged countries. They kill without conscience because they are killing not for a cause, but simply for survival.
Ironically, that's exactly what their employer is doing as well.