Among the many knots that Libya must dissolve the political agreement is the Libyan Central Bank. Ie the two central banks, since in January 2014, the militias of General Khalifa Haftar (Government of Tobruk internationally recognized) have seized the branch of Benghazi the Libyan Central Bank, whose headquarters is in Tripoli. "With $ 100 billion in" headline Business Insider (22/1/2015). While according to the NewYorkTimes, quoted, $ 100 billion was what remained to the Central Bank as a whole.
Not only. Tobruk government dismissed the current governor of the Central Bank in Tripoli, the main office, Sadiq al-Kabir and had appointed one of his confidence, Ali Salim al-Hibri. But Kabir continued undaunted to work at its headquarters in Tripoli. That among other things controls the oil revenues are vital to the country- told Reuters in July.
The choice (policy) of International Monetary Fund. IMF decided to recognize Hibri as its sole interlocutor, informed Reuters. He explained how this move complicasse very things. The Bank is based in Tripoli has tried to stay out of conflicts. And both the IMF and foreign countries until now dealt with both bankers, trying to create a common budget of the two governments (who have to pay salaries of the militias, public salaries, medicines and much more).
"The IMF has broken an agreement arrived at by the two governments for a joint budget," remarked Matthias Toaldo of the Council of Foreign Relations Europe. Adding that the IMF is unlikely to retrace his steps.
Moreover Hibri, the banker appointed by Tobruk, has indeed set a new headquarters in Benghazi but failed to convince customers of the oil to pay its bills through as evidence of ownership of oil and gas assets are located in Tripoli. Making it even more difficult to sell oil - with the draw of the rest has almost completely stopped. Although Libya the largest oil reserves in Africa (still Reuters).
Also according to the NYT the central bank in Tripoli was one of the few institutions still operating in the country, and Kabir had traveled abroad for foreign leaders ensure the integrity of the Libyan state in crisis.
What is certain is that external institutions such as the IMF enter the political game, as they did, and probably are going to do yet, the foreign mega-banks, primarily Anglo-Saxon as we will see have already played a role.
The loot in Central Bank of Benghazi.
"The general Haftar want the government to know that Tripoli can control most of the cash and gold reserves remained" writes BI. En passant that qualifies as 'deserter' (renegade) what is not exactly a good character, but it is close to the US where he lived long after fleeing from Libya in its time, and is the strong man in the Government of Tobruk.
In mid-2014, the central bank still had $ 113 billion of foreign exchange reserves, reported Al-Ayat, a leading pan-Arab newspaper, based in Lebanon. Far less than the $ 321 billion it held before the riots of 2011, but still enough to pay salaries and ensure the functioning of the oil infrastructure - added BI.
$ 113 billion in foreign currency strengthened to 116 tons of gold, to heed to a post on the site independent Middle East Al-Monitor (July 2014). It was noted that the foreign reserves amounted to just $ 321 billion before the revolution of 2011 - when gold Gaddafi was assessed by the World Gold Council in 143 tons (150 tonnes, according to others). With the revolution were immediately withdrawn from bank deposits $ 20 billion, forcing the Central Bank to sell 5 tons of gold, and then to dispose of $ 19 billion of foreign reserves, he explained, but stressed the assurances of the Central Bank: a collapse in Libya It is in sight, at least for another 5 years. It should be added for precision that the Bank had two more Libyan filali, in Sirte and Sabha in the south, but these are no longer spoken. We do not know what was inside.
The 'rebels' had just given birth to their Central Bank in Benghazi. A move suspected by its immediacy, perhaps 'controlled' (see The New American 03/30/20 11 adopted by Global Research).
That a substantial part of the foreign reserves and gold Gaddafi were in the branch of Benghazi told (6/6/2011) the deputy head of the Central Bank appointed by the 'rebels', Abdalgader Albagrmi (here). Vivid description of the groove.
"There were two underground vaults encased in double walls and protected by a heavy security door to open which served three keys. Two were in Benghazi while the third was in Tripoli, still under the control of Gaddafi. It took three days to be able to penetrate inside. In the first room they found cash in dinars and foreign currency. Albagrmi not authorized to disclose the amount, merely says 'between 500 million and 1 billion dinars', as the foreign currency 'was not very'.
In the second room there was a big pile of gold bars that some have estimated at $ 1 billion. "
Albagrmi minimized? Most likely yes.
A sudden move that already in those months of 2011 appeared to some suspect, that of the 'rebels', who then apparently do not even know who they were. The revolt broke out in Benghazi on February 15, 2011. Already on February 27 was born the TNC - Transitional National Council, a self-proclaimed provisional government in Benghazi which bills itself as' the sole representative of the people libico'e in March the international community is quick to recognize - to September or will even the UN. Well, as early as March, the TNC creates its Central Bank and the new Libyan Oil Company, also in Benghazi.
"Never heard of a central bank created in a few weeks by a popular uprising," notes an economic analyst in the post of The New American. "It suggests that those rebels were more than a band of insurgents and that there were influences sophisticated".
Another blog to which we refer is sarcastic: "When the conflict ends those rebels can become consultants." The blog cited advances the suspicion of external involvement. "It seems that someone believed very important to control the banks and the supply of money even before a real government was formed."
Doubts expressed even the mainstream media such as CNBC. "It 'the first time a revolutionary group is concerned to create a central bank and is still fighting to take power. An indication of how extraordinarily powerful central banks have become today. "
The Central Bank and the national plan for ILO GOLD was the cause before the NATO to remove Gaddafi?
"Some observers believe that the issue of the Central Bank was indeed the motivation behind the international interests against the Libyan regime," notes the post of New American citing another piece that has been around a lot on the web, according to which "global financiers and market manipulators could not tolerate the independence of monetary Libyan "under the Raiss.La Central Bank was in fact public, state.
"The Libyan government creates its own money through its Central Bank, the Libyan dinar pegged to the value of gold. The major problem of the globalist banking cartels is that to do business with Libya have to go through the Central Bank and the national currency, over which they have absolutely no domain and no ability to put pressure. Obama does not mention it, nor Sarkozy and Cameron, but on top of the globalist agenda is certainly a willingness to absorb Libya on the list of nations complacent ". Maybe replacing the dinar, however, hooking it to the dollar: this will be the way forward in the end, it was suggested.
OIL FOR GOLD. Especially since Gaddafi was planning to sell oil in exchange for Libyan dinars attached to gold rather than for dollars as it had done until then. Oil for gold, in fact, the name of the plan. A move that could infect other countries, and threaten very closely the supremacy of the dollar based on their petrodollars. "Remember Saddam Hussein? In 2000 he wanted to do something similar, selling oil in Euros, abandoning the dollar. Its end is known. "
So another blog. A popular theory, especially in non-Western media, remarked a subsequent post NewAmerican (30/11/2011), much of the previous analytical and full of quotations. Here are a few.
"Sarkozy came to declare that Libya was a" threat to the 'financial security of the world. "
"In 2009, as head of the African Union, Gaddafi had proposed that the continent crippled economically adopt the dinar Dinar aureus.
"His plan would strengthen the entire African continent in the eyes of economists - not to mention investors. But it would be devastating to the US economy, the US dollar and the elite system.
Not just the money. Even projects African Raiss were stopped.
In that summer of 2011, Gaddafi was still alive and fighting, but the 'revolution' Libyan supported - some say prepared - NATO had now produced the freezing of foreign assets of the Libyan Sovereign Fund and new sanctions. Mohammed Siala, minister of cooperation, and director of the Libyan sovereign fund, released an interesting interview. He had written in his time Underblog.
The intervention in Libya, told Siala, targeted or otherwise has the effect of blocking not only infrastructure projects in Libya already awarded to European companies, as well as Russian and Chinese. But also to stop cooperation projects with Libya gheddafiana African countries, aimed at emancipating those economies. With the result, inter alia, of further depleting those populations and push them to pour in mass in Europe.
The Libyans with Raiss had in fact launched large investments. In Libya. "The first was the 4000 Km of canal that carries water from the huge underground natural reservoir discovered years ago, at a rate equal to the waters of the Nile for 50 years, and supplies among other Benghazi and Tripoli. Some say that the exploitation of these acqueavrebbero eyeing the French, the first in the world in water.
"There is a railroad crossing North Africa, with the exception of Libya. We want to complete the integration into the regional and push it further. The Chinese build the stretch Tunisia-Sirte. The Russians have the task of Sirte-Benghazi. There was a deal with Italy for the section Benghazi-Egypt, as well as for locomotives. We also started the construction of a transcontinental line north-south, with the stretch-Libya N'Djamena. Investments are of international interest and the G8 promised to help, but we have not seen anything come. " So Siala.
And in Africa. The visionary Gaddafi wanted to develop the continent. A share of the Libyan sovereign fund is in shares of the continent's development, agriculture, trade, mining, etc. Siala told. For which this is the most critical aspect of the block.
"The continent is not able to export raw materials. We invest so that they are processed and marketed in Africa, by Africans. It is about creating jobs and keeping the surplus in Africa. On the one hand the Europeans encourage us, because it dries up the flow of migrants, on the other opposing it should abandon colonial exploitation ".
An Africa 'gheddafiana' open to Russian and Chinese, as well as the Europeans, certainly could not please the West and particularly the US, which, although in 2004 they promoted an opening against Libya, Africa had actually other plans. For Raiss was a rude awakening.
The affairs of the West with Libya and disappointments given to Gaddafi.
"Doing business with Libya was legal for American companies since 2004, after Gaddafi had renounced terrorism and its nuclear aspirations and Bush had canceled the sanctions." Banks, oil and construction companies they were thrown headlong.
So New York Times in an investigation of 2011. Who described how the creation of the Libyan Investment had gassed Western banks. Attracted by the opportunity to get their hands on the $ 40 billion sovereign fund. Then grew rapidly, becoming 64 billion last September, according to recent documents (Siala talking about $ 70 billion). Blair smiled for photos with Raiss, Saif al-Islam Gaddafi, the second and more British children, PhD LSE, was at home in London, a friend of Lord Mandelson and a Rothschild (it is no coincidence perhaps that to revive Saif was a few months ago in Foreign Affairs, the journal of the CFR, see Underblog).
The HSBC had become the senior Western banking partner of the Gaddafi regime, from whom he had received $ 1.4 billion. Goldman Sachs in September 2011 was still $ 45 million, JPMorgan Chase $ 173milioni. But even the French Societe Generale and other European banks had helped the regime to manage oil revenues. On the 22th floor of the tallest building in Tripoli, the seat of the Authority, there was a great coming and going.
But these investments have yielded little to the Libyans. Return to very low or zero, while commissions have remained high, documents the investigation of the NYT quoted.
Not to mention the rip suffered when - see The Wall Street Journal Online - the Authority for Investment entrusted to Goldman Sachs's $ 1.3 billion sovereign fund. The bank invested them in a basket of currencies and shares in six companies: three banks, the American Citigroup, the Italian Unicredit and Spain's Santander, the more the German company Allianz, the Electricité de France and the Italian Eni. It was the first half of 2008, with the crisis in the new capital were very throat. A year later, Lehman still fresh, Goldman Sachs announced to the Libyans that, due to the crisis, the investment had gone wrong, and the Libyan fund had shrunk to 25 million had lost 98% of its value.
Furious, perhaps with some justification, the Libyans swoop in London, end up not accept the proposals of Goldman, threaten lawsuits international certainly they would not benefit the reputation of the bank. In this case as to the losses suffered by investments made by several other companies - the American Permal, Palladyne the Dutch, the French Paribas, Britain's HSBC, Credit Suisse, etc. (See details here).
"As long as sanctions and military intervention have not solved the problem, by freezing the funds.
HSBC and other investment banks have already landed in Benghazi to create a new Central Bank of Libya that will allow them to manage the Libyan funds when they are thawed and the new oil export revenues, already taken, "he told Siala.
And then....
As you know things in Libya you are also complicated. Up to the two governments with their sponsors and to the agreements today, to be approved by the respective assemblies. Solving? We'll see.
What has gone on is the plan of Africom - US Central Command for Africa created by George W. Bush. Projects which also involve UK and especially France and go well beyond Libya to achieve but these Raiss's regime was an obstacle. See here Underblog February 2015 in the wake of the Guardian, see here where it says that US forces stationed in 35 countries already, and here a post far more analytical William Engdahl, American journalist against the specialist in geopolitics.
Not only. Tobruk government dismissed the current governor of the Central Bank in Tripoli, the main office, Sadiq al-Kabir and had appointed one of his confidence, Ali Salim al-Hibri. But Kabir continued undaunted to work at its headquarters in Tripoli. That among other things controls the oil revenues are vital to the country- told Reuters in July.
The choice (policy) of International Monetary Fund. IMF decided to recognize Hibri as its sole interlocutor, informed Reuters. He explained how this move complicasse very things. The Bank is based in Tripoli has tried to stay out of conflicts. And both the IMF and foreign countries until now dealt with both bankers, trying to create a common budget of the two governments (who have to pay salaries of the militias, public salaries, medicines and much more).
"The IMF has broken an agreement arrived at by the two governments for a joint budget," remarked Matthias Toaldo of the Council of Foreign Relations Europe. Adding that the IMF is unlikely to retrace his steps.
Moreover Hibri, the banker appointed by Tobruk, has indeed set a new headquarters in Benghazi but failed to convince customers of the oil to pay its bills through as evidence of ownership of oil and gas assets are located in Tripoli. Making it even more difficult to sell oil - with the draw of the rest has almost completely stopped. Although Libya the largest oil reserves in Africa (still Reuters).
Also according to the NYT the central bank in Tripoli was one of the few institutions still operating in the country, and Kabir had traveled abroad for foreign leaders ensure the integrity of the Libyan state in crisis.
What is certain is that external institutions such as the IMF enter the political game, as they did, and probably are going to do yet, the foreign mega-banks, primarily Anglo-Saxon as we will see have already played a role.
The loot in Central Bank of Benghazi.
"The general Haftar want the government to know that Tripoli can control most of the cash and gold reserves remained" writes BI. En passant that qualifies as 'deserter' (renegade) what is not exactly a good character, but it is close to the US where he lived long after fleeing from Libya in its time, and is the strong man in the Government of Tobruk.
In mid-2014, the central bank still had $ 113 billion of foreign exchange reserves, reported Al-Ayat, a leading pan-Arab newspaper, based in Lebanon. Far less than the $ 321 billion it held before the riots of 2011, but still enough to pay salaries and ensure the functioning of the oil infrastructure - added BI.
$ 113 billion in foreign currency strengthened to 116 tons of gold, to heed to a post on the site independent Middle East Al-Monitor (July 2014). It was noted that the foreign reserves amounted to just $ 321 billion before the revolution of 2011 - when gold Gaddafi was assessed by the World Gold Council in 143 tons (150 tonnes, according to others). With the revolution were immediately withdrawn from bank deposits $ 20 billion, forcing the Central Bank to sell 5 tons of gold, and then to dispose of $ 19 billion of foreign reserves, he explained, but stressed the assurances of the Central Bank: a collapse in Libya It is in sight, at least for another 5 years. It should be added for precision that the Bank had two more Libyan filali, in Sirte and Sabha in the south, but these are no longer spoken. We do not know what was inside.
The 'rebels' had just given birth to their Central Bank in Benghazi. A move suspected by its immediacy, perhaps 'controlled' (see The New American 03/30/20 11 adopted by Global Research).
That a substantial part of the foreign reserves and gold Gaddafi were in the branch of Benghazi told (6/6/2011) the deputy head of the Central Bank appointed by the 'rebels', Abdalgader Albagrmi (here). Vivid description of the groove.
"There were two underground vaults encased in double walls and protected by a heavy security door to open which served three keys. Two were in Benghazi while the third was in Tripoli, still under the control of Gaddafi. It took three days to be able to penetrate inside. In the first room they found cash in dinars and foreign currency. Albagrmi not authorized to disclose the amount, merely says 'between 500 million and 1 billion dinars', as the foreign currency 'was not very'.
In the second room there was a big pile of gold bars that some have estimated at $ 1 billion. "
Albagrmi minimized? Most likely yes.
A sudden move that already in those months of 2011 appeared to some suspect, that of the 'rebels', who then apparently do not even know who they were. The revolt broke out in Benghazi on February 15, 2011. Already on February 27 was born the TNC - Transitional National Council, a self-proclaimed provisional government in Benghazi which bills itself as' the sole representative of the people libico'e in March the international community is quick to recognize - to September or will even the UN. Well, as early as March, the TNC creates its Central Bank and the new Libyan Oil Company, also in Benghazi.
"Never heard of a central bank created in a few weeks by a popular uprising," notes an economic analyst in the post of The New American. "It suggests that those rebels were more than a band of insurgents and that there were influences sophisticated".
Another blog to which we refer is sarcastic: "When the conflict ends those rebels can become consultants." The blog cited advances the suspicion of external involvement. "It seems that someone believed very important to control the banks and the supply of money even before a real government was formed."
Doubts expressed even the mainstream media such as CNBC. "It 'the first time a revolutionary group is concerned to create a central bank and is still fighting to take power. An indication of how extraordinarily powerful central banks have become today. "
The Central Bank and the national plan for ILO GOLD was the cause before the NATO to remove Gaddafi?
"Some observers believe that the issue of the Central Bank was indeed the motivation behind the international interests against the Libyan regime," notes the post of New American citing another piece that has been around a lot on the web, according to which "global financiers and market manipulators could not tolerate the independence of monetary Libyan "under the Raiss.La Central Bank was in fact public, state.
"The Libyan government creates its own money through its Central Bank, the Libyan dinar pegged to the value of gold. The major problem of the globalist banking cartels is that to do business with Libya have to go through the Central Bank and the national currency, over which they have absolutely no domain and no ability to put pressure. Obama does not mention it, nor Sarkozy and Cameron, but on top of the globalist agenda is certainly a willingness to absorb Libya on the list of nations complacent ". Maybe replacing the dinar, however, hooking it to the dollar: this will be the way forward in the end, it was suggested.
OIL FOR GOLD. Especially since Gaddafi was planning to sell oil in exchange for Libyan dinars attached to gold rather than for dollars as it had done until then. Oil for gold, in fact, the name of the plan. A move that could infect other countries, and threaten very closely the supremacy of the dollar based on their petrodollars. "Remember Saddam Hussein? In 2000 he wanted to do something similar, selling oil in Euros, abandoning the dollar. Its end is known. "
So another blog. A popular theory, especially in non-Western media, remarked a subsequent post NewAmerican (30/11/2011), much of the previous analytical and full of quotations. Here are a few.
"Sarkozy came to declare that Libya was a" threat to the 'financial security of the world. "
"In 2009, as head of the African Union, Gaddafi had proposed that the continent crippled economically adopt the dinar Dinar aureus.
"His plan would strengthen the entire African continent in the eyes of economists - not to mention investors. But it would be devastating to the US economy, the US dollar and the elite system.
Not just the money. Even projects African Raiss were stopped.
In that summer of 2011, Gaddafi was still alive and fighting, but the 'revolution' Libyan supported - some say prepared - NATO had now produced the freezing of foreign assets of the Libyan Sovereign Fund and new sanctions. Mohammed Siala, minister of cooperation, and director of the Libyan sovereign fund, released an interesting interview. He had written in his time Underblog.
The intervention in Libya, told Siala, targeted or otherwise has the effect of blocking not only infrastructure projects in Libya already awarded to European companies, as well as Russian and Chinese. But also to stop cooperation projects with Libya gheddafiana African countries, aimed at emancipating those economies. With the result, inter alia, of further depleting those populations and push them to pour in mass in Europe.
The Libyans with Raiss had in fact launched large investments. In Libya. "The first was the 4000 Km of canal that carries water from the huge underground natural reservoir discovered years ago, at a rate equal to the waters of the Nile for 50 years, and supplies among other Benghazi and Tripoli. Some say that the exploitation of these acqueavrebbero eyeing the French, the first in the world in water.
"There is a railroad crossing North Africa, with the exception of Libya. We want to complete the integration into the regional and push it further. The Chinese build the stretch Tunisia-Sirte. The Russians have the task of Sirte-Benghazi. There was a deal with Italy for the section Benghazi-Egypt, as well as for locomotives. We also started the construction of a transcontinental line north-south, with the stretch-Libya N'Djamena. Investments are of international interest and the G8 promised to help, but we have not seen anything come. " So Siala.
And in Africa. The visionary Gaddafi wanted to develop the continent. A share of the Libyan sovereign fund is in shares of the continent's development, agriculture, trade, mining, etc. Siala told. For which this is the most critical aspect of the block.
"The continent is not able to export raw materials. We invest so that they are processed and marketed in Africa, by Africans. It is about creating jobs and keeping the surplus in Africa. On the one hand the Europeans encourage us, because it dries up the flow of migrants, on the other opposing it should abandon colonial exploitation ".
An Africa 'gheddafiana' open to Russian and Chinese, as well as the Europeans, certainly could not please the West and particularly the US, which, although in 2004 they promoted an opening against Libya, Africa had actually other plans. For Raiss was a rude awakening.
The affairs of the West with Libya and disappointments given to Gaddafi.
"Doing business with Libya was legal for American companies since 2004, after Gaddafi had renounced terrorism and its nuclear aspirations and Bush had canceled the sanctions." Banks, oil and construction companies they were thrown headlong.
So New York Times in an investigation of 2011. Who described how the creation of the Libyan Investment had gassed Western banks. Attracted by the opportunity to get their hands on the $ 40 billion sovereign fund. Then grew rapidly, becoming 64 billion last September, according to recent documents (Siala talking about $ 70 billion). Blair smiled for photos with Raiss, Saif al-Islam Gaddafi, the second and more British children, PhD LSE, was at home in London, a friend of Lord Mandelson and a Rothschild (it is no coincidence perhaps that to revive Saif was a few months ago in Foreign Affairs, the journal of the CFR, see Underblog).
The HSBC had become the senior Western banking partner of the Gaddafi regime, from whom he had received $ 1.4 billion. Goldman Sachs in September 2011 was still $ 45 million, JPMorgan Chase $ 173milioni. But even the French Societe Generale and other European banks had helped the regime to manage oil revenues. On the 22th floor of the tallest building in Tripoli, the seat of the Authority, there was a great coming and going.
But these investments have yielded little to the Libyans. Return to very low or zero, while commissions have remained high, documents the investigation of the NYT quoted.
Not to mention the rip suffered when - see The Wall Street Journal Online - the Authority for Investment entrusted to Goldman Sachs's $ 1.3 billion sovereign fund. The bank invested them in a basket of currencies and shares in six companies: three banks, the American Citigroup, the Italian Unicredit and Spain's Santander, the more the German company Allianz, the Electricité de France and the Italian Eni. It was the first half of 2008, with the crisis in the new capital were very throat. A year later, Lehman still fresh, Goldman Sachs announced to the Libyans that, due to the crisis, the investment had gone wrong, and the Libyan fund had shrunk to 25 million had lost 98% of its value.
Furious, perhaps with some justification, the Libyans swoop in London, end up not accept the proposals of Goldman, threaten lawsuits international certainly they would not benefit the reputation of the bank. In this case as to the losses suffered by investments made by several other companies - the American Permal, Palladyne the Dutch, the French Paribas, Britain's HSBC, Credit Suisse, etc. (See details here).
"As long as sanctions and military intervention have not solved the problem, by freezing the funds.
HSBC and other investment banks have already landed in Benghazi to create a new Central Bank of Libya that will allow them to manage the Libyan funds when they are thawed and the new oil export revenues, already taken, "he told Siala.
And then....
As you know things in Libya you are also complicated. Up to the two governments with their sponsors and to the agreements today, to be approved by the respective assemblies. Solving? We'll see.
What has gone on is the plan of Africom - US Central Command for Africa created by George W. Bush. Projects which also involve UK and especially France and go well beyond Libya to achieve but these Raiss's regime was an obstacle. See here Underblog February 2015 in the wake of the Guardian, see here where it says that US forces stationed in 35 countries already, and here a post far more analytical William Engdahl, American journalist against the specialist in geopolitics.
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