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President Hugo Chavez loves the limelight and stepped into it again...by proposing international mediation over the Libya rebellion involving Latin America, Europe and the Middle East.
But there are few details.
The initiative has been dubbed the "committee of peace" and is "under consideration" by the Arab League.
It has already sent gold futures down the most in six weeks with silver suffering its biggest drop since late January.
The sketchy details outline a "south-south" solution to the standoff between Gaddafi and rebels.
Mustafa Abdel Jalil, Gadhafi's former justice minister and chairman of the newly formed National Libyan Council, however claims the rebels will reject any talks.
"No one has told us a thing about it and we are not interested anyway," said the spokesman of the national committee in Benghazi, Abdul Hafif Goga. "We will never negotiate with him."
