Updated

Libyan leader Muammar Qaddafi, declaring that "we'd be content and happy if Obama can stay president forever," launched into a rambling assault against the United Nations Security Council on Wednesday, at one point complaining to world leaders gathered to hear him speak that he was tired and jet lagged.

Sometimes speaking in phrases mocking New York City's security efforts during the 64th gathering of the U.N. General Assembly, Qaddafi swung between calling the Security Council a "Terror Council," to demanding that European nations pay $7.7 trillion in compensation and apologize for colonizing Africa, at one point adding, "African nations have the right to go anyplace to get the $7.7 trillion stolen from it."

Qaddafi spoke after President Barack Obama's first speech to the General Assembly.

Referencing Obama as "my son," Qaddafi said: "We are happy that a young African Kenyan was voted for and made president. Obama is a glimpse in the dark for the next four years, but I'm afraid we may go back to square one.

"Can the U.S. guarantee after Obama that they'll be a government? We're happy and content if he can stay forever."

Secretary of State Hillary Rodham Clinton and U.S. Ambassador Susan Rice left the chamber before Qaddafi took the podium and left a low-level note taker to listen.

Holding a copy of the United Nations Charter, Qaddafi said the U.N. was founded by the super powers and that now "small countries could be crushed by the super powers." At one point, he motioned to rip up the small blue Charter booklet, but instead he paused and seemed to lose his place as world leaders and their representatives sat in stunned silence.

He then continued to rail against the "inequality" of U.N. member states, often repeating himself while quoting from a section of the Charter that calls for equality of nations. He noted that five nations hold veto power on the Security Council and can block actions contrary to their interests: the United States, Russia, China, Britain and France. He later called for an African seat on the Security Council.

Waving his hands and often turning to look at United Nation's Secretary General Ban Ki-moon and the new General Assembly President H.E. Dr. Ali Abdussalam Treki — who also serves as Libya's minister of African affairs — Qaddafi defiantly declared, "Nobody cares about the Security Council."

He added, "this place was founded by terrorists."

As he fumbled through hand-written notes, he mixed his attacks with rambling references to: the Kennedy and King assassinations; the U.S. Civil War; the Korean War; the Suez War; Saddam Hussein's hanging; former dictator Manuel Noriega; jet lag; and, a defense of the Taliban and Somali pirates.

The Associated Press contributed to this report.