In 90-minute speech Gaddafi spoke about the political and diplomatic history of the world in the last half century.
His speech was mainly aimed at US and the western world but he also took a pick at the UN Security Council.
He added that India and Japan were robbing Somalia of its fishing wealth, forcing Somalis to take up piracy.
Gaddafi demanded that the security council should be reformed.
“It should not be called the Security Council, it should be called the 'terror council"," he said.