The theft of the Libyan sovereign funds,Stealing by US & Western Empire
The objective of the war in Libya is not just oil, whose reserves (estimated at
60 billion barrels) are the most important in Africa and whose extraction costs are among the lowest in the world. Not so little also, natural gas, whose reserves are estimated at about 1.5 trillion cubic metres. In the crosshairs of “volunteers” of operation “unified protector” are also the sovereign funds, the wealth, the Libyan capital that the state invested abroad.
Sovereign funds managed by the Libyan Investment Authority (LIA) are estimated at 70 billion U.S. dollars, soaring to more than 150 when including foreign investment of the Central Bank and other bodies. And they could be even more important. Although lower than that of Saudi Arabia or Kuwait, Libyan sovereign funds are characterized by their rapid growth.
There are a host of reasons the U.S. ruling elites and their European cousins
and business partners are bombing Libya. Obama, “The Mad Bomber,” and the sock puppets in the corporate mind control apparatus tell us this war is a humanitarian mission, an Orwellian oxymoron if ever there was one.
How can killing and maiming people serve to benefit humanity? We know Libya has massive oil and natural gas reserves and any time you see the elites’ GOD – “Gold, gas, Oil and Drugs“ – you know the Luciferi are licking their chops to steal and expropriate it all.
In addition he has been a staunch advocate for pan-African solidarity and independence from the European neo-colonial powers. Libya is one of the few countries not stuck in the spider web of the international money lenders and vampires of the International Monetary Fund (IMF), World Bank and Bank of International Settlements. That alone is enough for these psychopaths to put out a hit on him.
When the LIA was founded in 2006, it had 40 billion dollars. In just five years, it had invested in more than one hundred companies: North African, Asian, European, American and South American, holding companies, banks, real estate, industry, oil companies and others.
In Italy, the main Libyan investments were made in UniCredit Banca (LIA and that the Libyan Central Bank owns 7.5%) in the Finmeccanica (2%) and ENI (1%): These investments and others (including 7 5% at Juventus Football Club) have a less economic significance (amounting to about 4 billion U.S. dollars) than political.
Libya, after Washington had removed it from their list of “rogue” countries, tried to reestablish a place in the international arena by relying on “diplomacy of sovereign funds.” When the United States and the European Union abolished the embargo of 2004, and the big oil companies returned to the country, Tripoli could have a trade surplus of around 30 billion dollars per year largely due to foreign investments.
In in these fractures the dominant ruling circles supported ordinary Americans and Europeans who, before attacking Libya militarily to take possession of its energy wealth, appropriated the Libyan sovereign funds. This operation was favored by the representative of the Libyan Investment Authority, Mohamed Layas.
As shown in a diplomatic cable published by Wikileaks, on January 20th, Layas informed the U.S. Ambassador in Tripoli that the LIA had deposited 32 billion dollars in U.S. banks. Five weeks later, on February 28th, the U.S. Treasury “froze” them.
According to official statements, this is “the largest sum of money ever blocked in the United States, which Washington holds “in trust for the future of Libya.” It will serve, in fact, as an injection of capital into the U.S. economy, more and more in debt. A few days later, the European Union “froze” around 45 billion euros of Libyan funds [NR].
The robbery of Libyan funds will have a particularly strong impact in Africa. On this continent, the Libyan Arab African Investment Company made investments in over 25 countries, including 22 in sub-Saharan Africa, planning to increase them over the next five years, particularly in mining, manufacturing, tourism and telecommunications.
Qaddafi organized Africa and contributed $300 million of the $400 million it cost to buy a communications satellite rather than pay the $500 million a year to Europe for the use of one of its satellites that had made phone calls to, from and within Africa the most expensive in the world.
The Libyan investments were instrumental in the realization of the first Rascom telecommunications satellite (Regional African Satellite
Communications Organization), which was placed into orbit in August 2010, allowing African countries to begin to become independent of the American and the European satellite networks, thus realizing an annual savings of hundreds of millions of dollars.
.Even more important were the Libyan investments in the realization of three financial institutions launched by the African Union, the African Investment Bank, whose headquarters are in Tripoli, the African Monetary Fund, based in Yaoundé (Cameroon), the African Central Bank, located in Abuja (Nigeria).
The development of these organisms would allow African countries to escape the control of the World Bank and International Monetary Fund, both instruments of neo-colonial domination, and should mark the end of the CFA franc, the currency that 14 ex-colonies are required to use . The freezing of Libyan soverign funds deal a very hard blow to the entire project. The weapons used by the “volunteers” are not only those of the operation “unified protector.”
In addition Libya not being a part of the global central banking system run by the Bank of International Settlements out of Basel, Switzerland, Qaddafi irritated the global financial elites by lending money and supporting projects throughout Africa that were taking profits from the IMF, World Bank and the BIS loan sharks. Qaddafi was costing them billions in interest and the ability to swoop in and steal the country’s assets once the countries got in over their heads in IMF and World Bank debt.In addition to that, Libya was investing its oil and gas wealth in other countries around the world. This accumulated capital and surplus is called sovereign wealth, and Libya had a lot.
Stealing this money will have a devastating impact on African development and economic independence. Dinucci continues: “The assault on the Libyan sovereign wealth funds will have a particularly strong impact in Africa. There, the Libyan Arab African Investment Co. had invested in over 25 countries, 22 of them in sub-Saharan Africa, and was planning to increase the investments over the next five years, especially in mining, manufacturing, tourism and telecommunications. The Libyan investments have been crucial in the implementation of the first telecommunications satellite Rascom (Regional African Satellite Communications Organization), which entered into orbit in August 2010, allowing African countries to begin to become independent from the U.S. and European satellite networks, with an annual savings of hundreds of millions of dollars.
Operating independently of these shysters and crooks who only deal with the private central banks that control their nations’ interest rates, money supply and monetary policy is a no no. By Qaddafi lending money to African nations, threatening to nationalize Libya’s oil and gas and making huge sums of money on his international investments, he was setting a precedent the BIS vampires could not allow.So the U.S. CIA and British MI6 funded provocateurs to create an internal crisis to give the banksters and oil conglomerates a pretext to send in their enforcement arm: NATO and the combined militaries of the U.S., England and France to instigate regime change and the theft of Libya’s wealth under the guise of a humanitarian mission. Don’t believe the hype. This is a straight up bogart to steal Libya’s wealth and resources.
Source: by Manlio Dinucci & Junious Ricardo