Uploaded February 2013 | Updated September 2026, 1 hour ago

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From Russia Today - rt.com

Qaddafi was proposing that OPEC countries switch from the US dollar as the exchange currency for oil, to the African Dinar, a gold-backed currency. Being that the currency of virtually every nation with a central bank is a fiat currency, meaning it is not backed by gold. As the video summarizes, Western nations could simply not afford to let that happen...