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Libyan gold rush followed end to sanctions

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posted on May, 26 2011 @ 09:06 AM

Some of the world’s most sophisticated banks and investment firms rushed to do business with Moammar Gaddafi’s government in Libya after the United States rescinded the country’s designation as a state sponsor of terrorism five years ago, according to an internal financial document obtained by The HSBC, Goldman Sachs and other top banks took on hundreds of millions in cash deposits. Hedge funds and private investment firms, including the Washington-based Carlyle Group, sold Libya’s investment authority complex financial products. The Libyan sovereign wealth fund bought more than $1 billion in U.S. Treasury bills, effectively giving Libya a chance to underwrite U.S. debt.

washington post

There is just so many things that could be said about this that I don't even know where to begin.

I will answer simply, why?

Then I read the comments, and someone mentioned how much oil is invested in Libya. I have been getting conflicting information on just how much we are invested in oil in Libya. That information seems to be a smokescreen, yes we are, no we are not.
Or maybe we are not telling. We meaning the oild companies.

The document, created for the Tripoli-based Libyan Investment Authority by management consulting firm KPMG, provides the most detailed accounting yet of how Libya invested its oil revenue in the years between its removal from the international blacklist in 2006 and the resumption of sanctions after a deadly crackdown on protesters earlier this year

Now it is getting a little less fuzzy.

This whole thing reeks.


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