Libya's Billions Invested In U.S. Private Equity, Big Banks

Libya's Billions Invested In U.S. Private Equity, Big Banks

First Posted: 03/ 2/11 05:38 PM Updated: 03/ 2/11 10:02 PM

NEW YORK -- U.S. President Barack Obama's executive order freezing $30 billion in assets of Muammar Gaddafi, his family and the Libyan government could impact several U.S. banks and private equity firms, including Goldman Sachs, Citigroup, JPMorgan Chase and the Carlyle Group. The Obama administration described it as the largest seizure of foreign funds in U.S. history.

The oil-rich country's sovereign wealth fund, the Libyan Investment Authority, controls at least $70 billion in fixed assets and reserves. It has invested the bulk of its money in European banks and businesses, including Dutch-Belgian bank Fortis, Italian bank Unicredit, the Pearson publishing empire, Italian defense firm Finmeccanica SpA, an oil-production sharing agreement with BP and even a slice of the Italian soccer team Juventus.

In the wake of the Bush administration's lifting of sanctions against Libya in 2004, following Gaddafi's agreement to give up weapons of mass destruction, American businesses and private equity firms also came flocking to the North African country to court government and LIA officials. As The Huffington Post reported last week, a broad coalition of U.S. oil companies, defense manufacturers and businesses lobbied the U.S. government to repair relations with the longtime international pariah and to take advantage of business opportunities in the country.

The secretive Libyan Investment Authority has reportedly invested hundreds of millions of dollars in Goldman Sachs Asset Management funds, including a loan fund designed to invest in new hedge funds set up by the Kuwait Investment Authority. Goldman Sachs already has a relationship with Libya -- in 2008, Goldman was the first U.S. bank to get a contract with the country following the removal of sanctions, when it was hired by Libya's central bank to provide information on its behalf to credit rating agencies. A spokesperson for Goldman Sachs did not return calls seeking comment.

Huffington Post Link

If you think that is bad, you need to read this. Your retirement funds are being taken right now. Take action or lose them.

Retirement Funds

Aswell as you know that Libya is also the largest exporter of Blood diamonds in the world. Blood diamonds are taken into Libya, where they are traded in markets and by large dealers from around the world, all knowing good and well that they are blood diamonds. The amount of money that moves through Libya is incredible just in illegal stones alone, and you know that is why Goldman, Carlyle, Bloodstone­, Citi and JP are all there.


Charles Taylor...

Numerous allegations were leveled at Taylor during his presidency, particularly regarding his involvement in the Sierra Leone Civil War. He was accused of backing the rebel Revolutionary United Front (RUF) and assisting them through weapon sales in exchange for blood diamonds.

From wikipedia hate to use it Link

reply to post by StealthKix


So 30b + loads of oil for America = a happy Obama

reply to post by BigBruddah


Will be interesting to see if the banks take this lying down or whether a back hand deal has already been done.

Obama government takes/freezes the money and the banks take American citizens pensions... sounds fair /s

it is evident that the "ones" who are actually running Libya are clearly NOT Arab Libyans !!

time for a background check here ....

true ethnicities

true religions (if any!)

WHO are these "Merchants"?

WHO is running the Libyan central bank?


is this Bank-O-PEC.

What caught my attention»»»

The oil-rich country's sovereign wealth fund, the Libyan Investment Authority, controls at least $70 billion in fixed assets and reserves. It has invested the bulk of its money in European banks and businesses, including Dutch-Belgian bank Fortis, Italian bank Unicredit, the Pearson publishing empire, Italian defense firm Finmeccanica SpA, an oil-production sharing agreement with BP and even a slice of the Italian soccer team Juventus.

Stronger financial strings to steer european politics ?

Expansion of the american empire on all fronts. Military, scientific, cultural and in this specific case, economical take-over seems to be the plan.

On a side note, just hearing on the radio now, about Nelly Furtardo has just given $1m to charity the fee she was paid by Gadaf, for a 45 minute performance, apparently there are loads of others who have performed for the Gadafis at private functions around the world.

reply to post by StealthKix

If you think that is bad, you need to read this. Your retirement funds are being taken right now. Take action or lose them.

This is not new:

Confiscat ion of Private Retirement Accounts: US Departments of Labor and Treasury Schedule Hearing

...Obviously, an outright seizure of assets would meet stiff resistance from the public. So the confiscation will never be described as such by government officials. Expect to see terms such as “retirement income protection” thrown around. ...

...The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace them with US government “Treasury Retirement Bonds.” In the October 2008 hearings, it was proposed that these bonds pay a 3% interest rate. Another major change is that, upon retirement, the individual’s retirement account would be converted into an annuity. Once the individual is deceased, the individual’s heirs would not inherit anything (similar to what happens now with Social Security “accounts”).

Among the steps that could be taken to accomplish total confiscation are to first make the conversion voluntary, then make it mandatory for only a portion of total assets. The final step would be making it 100% mandatory for 100% of all assets. One idea proposed in the October 2008 House Committee hearings (after trillions of dollars had already been lost in most assets categories) to help push this plan onto the public, was to allow the seized assets to be replaced with government bonds at a face value of a previous higher valuation date. The idea was that a private citizen, who might have lost 20-50% of his retirement asset value, would be much more willing to accept an inferior retirement asset if doing so allowed them to recoup the losses....

No one every questions money as long as they get some, paid in US currency and financed in US business
Along with the T-bills in trade off of supporting US debt.just as kissenger wanted for the US Government.
Since it's money it's a traceable and is accountable soaked in the blood of chidren, women and men, there must be an alien inside of black oil taints all that touch it. like a plague