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Stealing the oil, gas and sovereign wealth of Libya

May 6, 2011

Listen below to ‘First Black president bombs Africa,’ the second explosive interview with Black Libya expert Gerald Perreira by Minister of Information JR

by Junious Ricardo Stanton

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 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, which are estimated at about 1,500 billion cubic meters. In the crosshairs of the ‘coalition of the willing’ conducting ‘Operation Unified Protector’ there are sovereign wealth funds, capital that the Libyan state has invested abroad.

“The Libyan Investment Authority (LIA) manages sovereign wealth funds estimated at about $70 billion U.S., 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 in over a hundred companies in North Africa, Asia, Europe, the U.S. and South America: holding, banking, real estate, industries, oil companies and others.” – Manlio Dinucci, “Financial Heist of the Century: Confiscating Libya’s Sovereign Wealth Funds,” BlackListed News

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.

However, in the case of Libya, the elites are moving on that country because Col. Muammar al-Qaddafi is a thorn in their side. Two years ago, Qaddafi, in a talk with U.S. students at Georgetown University, threatened to nationalize Libyan oil and natural gas due to the low prices.

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.

What, you’ve never heard of the Bank of International Settlements? Don’t feel bad, it’s a low profile organization that functions as the central bank for all central banks. Ellen Brown writes in “The Tower of Basel: Secretive Plans for the Issuing of a Global Currency”:

“For many years, the BIS kept a very low profile, operating behind the scenes in an abandoned hotel. It was here that decisions were reached to devalue or defend currencies, fix the price of gold, regulate offshore banking, and raise or lower short-term interest rates. In 1977, however, the BIS gave up its anonymity in exchange for more efficient headquarters. The new building has been described as ‘an 18-story-high circular skyscraper that rises above the medieval city like some misplaced nuclear reactor.’ It quickly became known as the ‘Tower of Basel.’ Today the BIS has governmental immunity, pays no taxes, and has its own private police force. It is, as Mayer Rothschild envisioned, above the law.

“The BIS is now composed of 55 member nations, but the club that meets regularly in Basel is a much smaller group; and even within it, there is a hierarchy. In a 1983 article in Harper’s Magazine called ‘Ruling the World of Money,’ Edward Jay Epstein wrote that where the real business gets done is in ‘a sort of inner club made up of the half dozen or so powerful central bankers who find themselves more or less in the same monetary boat’ – those from Germany, the United States, Switzerland, Italy, Japan and England.”

In addition to 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.

The operative word here is had. The global thugs and their henchmen coveted these funds and like all thieves and crooks they couldn’t wait to get their hands on this money. So they bum rushed Libya, using the pretext of helping the rebels who they instigated into insurrection so they could get their filthy hands on the oil, gas and sovereign wealth of Libya.

The US$30 billion frozen by President Obama belongs to the Libyan Central Bank and had been earmarked as the Libyan contribution to three key projects which would add the finishing touches to the African federation – the African Investment Bank in Tripoli, the $42 billion African Monetary Fund in Yaoundé, Cameroon, and the African Central Bank in Abuja, Nigeria.
“U.S. 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,” writes Dinucci in “Financial Heist of the Century.” “Facilitating this operation is the representative of the Libyan Investment Authority, Mohamed Layas himself, as revealed in a cable published by WikiLeaks. On Jan. 20, Layas informed the U.S. ambassador in Tripoli that LIA had deposited $32 billion in U.S. banks. Five weeks later, on Feb. 28, the U.S. Treasury ‘froze’ these accounts. According to official statements, this is ‘the largest sum ever blocked in the United States,’ which Washington held ‘in trust for the future of Libya.’ It will in fact serve as an injection of capital into the U.S. economy, which is more and more in debt. A few days later, the EU ‘froze’ around 45 billion Euros of Libyan funds.”

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.

“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 Yaoundé, Cameroon, and the African Central Bank, 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 (currencies used in Africa that are guaranteed by the French treasury), the currency that 14 former French colonies are forced to use.”

Not content to rob and fleece us out of our savings, pension funds, Social Security Trust Fund, 401k savings etc. here in the U.S., these kleptocrats are out to control and steal it all – wherever it exists, here or abroad. “The bank [BIS] also controls a huge amount of gold, which it both stores and lends out, giving it great leverage over the metal’s price and the marketplace power that brings, since gold is still the only universal currency,” according to “The Most Powerful Bank You Have Never Heard of.”

“BIS gold reserves were listed on its 2005 annual report (the most recent) as 712 tons. How that breaks down into member banks’ deposits and the BIS personal stash is unknown.

The new headquarters of the Bank of International Settlements, the central bank for all central banks, known as the “Tower of Basel,” has been described as “an 18-story-high circular skyscraper that rises above the medieval city like some misplaced nuclear reactor.” – Photo: BIS.org
“By controlling foreign exchange currency, plus gold, the BIS can go a long way toward determining the economic conditions in any given country. Remember that the next time Ben Bernanke or European Central Bank President Jean-Claude Trichet announces an interest rate hike. You can bet it didn’t happen without the concurrence of the BIS Board.”

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.

Junious Ricardo Stanton, writer and internet radio host on www.harambeeradio.com, can be reached at jrswriter@comcast.net. To read his commentaries regularly, subscribe to the Sons of Afrika listserve at http://groups.yahoo.com/group/SOA/.

First Black president bombs Africa

Minister of Information JR interviews Gerald Perreira for a second time, shortly after the U.S. and NATO began bombing Libya. Perreira lived and worked in Libya for decades and gives a brief history of some of the main players involved. The interview was broadcast on KPFA.

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