{"id":324,"date":"2011-05-11T16:30:17","date_gmt":"2011-05-11T11:00:17","guid":{"rendered":"http:\/\/kirukkalgal.pathipagam.com\/?p=324"},"modified":"2011-05-11T16:30:17","modified_gmt":"2011-05-11T11:00:17","slug":"how-us-europe-are-robbing-libya","status":"publish","type":"post","link":"https:\/\/kirukkalgal.pathipagam.com\/?p=324","title":{"rendered":"How US & Europe are robbing Libya"},"content":{"rendered":"

I simply couldn’t resist posting this article that I received as a forward mail. It just shows how towards world works.
\nWestern World is on shaky ground and they are doing all they can to ensure they continue to rule the world.<\/p>\n

Read On…<\/p>\n

—<\/p>\n

Human slavery never ends, it is reinvented in various guises by the capitalistic ecconomies of the world for self-sustenance!<\/div>\n
The objective of the war against Libya is not just its oil reserves (now estimated at 60 billion barrels), which are the greatest in Africa and whose extraction costs are among the lowest in the world, nor the natural gas reserves of which are estimated at about 1,500 billion cubic meters. In the crosshairs of \u201cwilling\u201d of the operation \u201cUnified Protector\u201d there are sovereign wealth funds, capital that the Libyan state has invested abroad.<\/div>\n
The Libyan Investment Authority (LIA) manages sovereign wealth funds estimated at about $70 billion US, rising to more than $150 billion if you include foreign investments of the Central Bank and other bodies. But it might be more. Even if they are lower than those of Saudi Arabia or Kuwait, Libyan sovereign wealth funds have been characterized by their rapid growth. When LIA was established in 2006, it had $40 billion at its disposal. In just five years, LIA has invested over one hundred companies in North Africa, Asia, Europe, the US and South America: holding, banking, real estate, industries, oil companies and others.<\/div>\n
In Italy, the main Libyan investments are those in UniCredit Bank (of which LIA and the Libyan Central Bank hold 7.5 percent), Finmeccanica (2 percent) and ENI (1 percent), these and other investments (including 7.5 percent of the Juventus Football Club) have a significance not as much economically (they amount to some $5.4 billion) as politically.<\/div>\n
Libya, after Washington removed it from the blacklist of \u201crogue states,\u201d has sought to carve out a space at the international level focusing on \u201cdiplomacy of sovereign wealth funds.\u201d Once the US and the EU lifted the embargo in 2004 and the big oil companies returned to the country, Tripoli was able to maintain a trade surplus of about $30 billion per year which was used largely to make foreign investments. The management of sovereign funds has however created a new mechanism of power and corruption in the hands of ministers and senior officials, which probably in part escaped the control of Gadhafi himself: This is confirmed by the fact that, in 2009, he proposed that the 30 billion in oil revenues go \u201cdirectly to the Libyan people.\u201d This aggravated the fractures within the Libyan government.<\/div>\n
US and European ruling circles focused on these funds, so that before carrying out a military attack on Libya to get their hands on its energy wealth, they took over the Libyan sovereign wealth funds. Facilitating this operation is the representative of the Libyan Investment Authority, Mohamed Layas himself: as revealed in a cable published by WikiLeaks.\u00a0On January 20 Layas informed the US ambassador in Tripoli that LIA had deposited $32 billion in US banks. Five weeks later, on February 28, the US Treasury \u201cfroze\u201d these accounts. According to official statements, this is \u201cthe largest sum ever blocked in the United States,\u201d which Washington held \u201cin trust for the future of Libya.\u201d It will in fact serve as an injection of capital into the US economy, which is more and more in debt. A few days later, the EU \u201cfroze\u201d around 45 billion Euros of Libyan funds.<\/div>\n
The assault on the Libyan sovereign wealth funds will have a particularly strong impact in Africa. There, the Libyan Arab African Investment Company 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 US and European satellite networks, with an annual savings of hundreds of millions of dollars.<\/div>\n
Even more important were the Libyan investment in the implementation of three financial institutions launched by the African Union: the African Investment Bank, based in Tripoli, the African Monetary Fund, based in Yaound\u00e9 (Cameroon), the African Central Bank, with Based in Abuja (Nigeria). The development of these bodies would enable African countries to escape the control of the World Bank and International Monetary Fund, tools of neo-colonial domination, and would mark the end of the CFA franc, the currency that 14 former French colonies are forced to use. Freezing Libyan funds deals a strong blow to the entire project. The weapons used by \u201cthe willing\u201d are not only those in the military action called \u201cUnified Protector.\u201d<\/div>\n

spybubble login<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I simply couldn’t resist posting this article that I received as a forward mail. It just shows how towards world works. Western World is on shaky ground and they are doing all they can to ensure they continue to rule the world. Read On… — Human slavery never ends, it is reinvented in various guises … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[126,197,223],"class_list":["post-324","post","type-post","status-publish","format-standard","hentry","category-viewpoint","tag-libya","tag-soverign-fund","tag-us-war-on-libya"],"views":1030,"_links":{"self":[{"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=\/wp\/v2\/posts\/324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=324"}],"version-history":[{"count":0,"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=\/wp\/v2\/posts\/324\/revisions"}],"wp:attachment":[{"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kirukkalgal.pathipagam.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}