Libya Then & Now: An Overview of NATO’s Handiwork | New Dawn : The World’s Most Unusual Magazine
In 2008 Goldman Sachs was given US$1.3 billion dollars by the Libyan Investment Authority. In unfathomable terms, Goldman Sachs told the Libyans that 98% of their investment was lost overnight, which means the Libyans lost almost all the money they gave Goldman Sachs. To Tripoli and other observers it was clear Goldman Sachs had merely appropriated the Libyan investment as a cash injection, because it needed the funds due to the global financial crisis. Afterwards, Jamahiriya officials and Goldman Sachs executives tried negotiating a settlement under which Goldman Sachs would give Tripoli huge shares in the Wall Street financial giant. These negotiations between Libya and Goldman Sachs for a settlement finally ended in 2009 with both sides failing to agree on a formula to replace the Libyan money that Goldman Sachs had effectively appropriated from Tripoli.
Goldman Sachs was not alone in filching Libyan investment funds: Société Générale S.A., Carlyle Group, J.P. Morgan Chase, Och-Ziff Capital Management Group, and Lehman Brothers Holdings were also all in possession of vast Libyan investments and funds. In one way or another, NATO’s war on Libya and the freeze of Libyan financial assets profited them all. They and their governments were also not happy with Qadhafi’s ideas and proposal to the United Nations that the former colonial powers owed Africa almost US$800 trillion dollars.
The fact that Libya happened to be a rich country was one of its crimes in 2011. Oil, finance, economics, and Libyan natural resources were always tempting prizes for the United States and its allies. These things were the spoils of war in Libya. While Libyan energy reserves and geopolitics played major roles in launching the 2011 war, it was also waged in part to appropriate Tripoli’s vast financial holdings and to supplement and maintain the crumbling financial hegemony of Wall Street and other financial centres. Wall Street could not allow Tripoli to be debt-free, to continue accumulating international financial possessions, and to be a creditor nation giving international loans and investing funds in other countries, particularly in Africa. Thus, major banks in the United States and the European Union, like the giant multinational oil conglomerates, had major roles and interests in the NATO war on Tripoli