Wednesday, June 28, 2017

Panama Papers: Where is Gaddafi's Money and Libya's Gold?



foreignpolicyjournal |  Though the French-proposed U.N. Security Council Resolution 1973 claimed the no-fly zone implemented over Libya was to protect civilians, an April 2011 email [archived here] sent to Hillary with the subject line “France’s client and Qaddafi’s gold” tells of less noble ambitions.
The email identifies French President Nicholas Sarkozy as leading the attack on Libya with five specific purposes in mind: to obtain Libyan oil, ensure French influence in the region, increase Sarkozy’s reputation domestically, assert French military power, and to prevent Gaddafi’s influence in what is considered “Francophone Africa.”

Most astounding is the lengthy section delineating the huge threat that Gaddafi’s gold and silver reserves, estimated at “143 tons of gold, and a similar amount in silver,” posed to the French franc (CFA) circulating as a prime African currency. In place of the noble sounding “Responsibility to Protect” (R2P) doctrine fed to the public, there is this “confidential” explanation of what was really driving the war [emphasis mine]:

This gold was accumulated prior to the current rebellion and was intended to be used to establish a pan-African currency based on the Libyan golden Dinar. This plan was designed to provide the Francophone African Countries with an alternative to the French franc (CFA).

(Source Comment: According to knowledgeable individuals this quantity of gold and silver is valued at more than $7 billion. French intelligence officers discovered this plan shortly after the current rebellion began, and this was one of the factors that influenced President Nicolas Sarkozy’s decision to commit France to the attack on Libya.)

Though this internal email aims to summarize the motivating factors driving France’s (and by implication NATO’s) intervention in Libya, it is interesting to note that saving civilian lives is conspicuously absent from the briefing.

Instead, the great fear reported is that Libya might lead North Africa into a high degree of economic independence with a new pan-African currency.

French intelligence “discovered” a Libyan initiative to freely compete with European currency through a local alternative, and this had to be subverted through military aggression.

Suddeutsche |   Where is Muammar Gaddafi’s money? Rebels pulled the Libyan dictator from a sewage pipe near his hometown of Sirte on October 20, 2011. He was bleeding from his head, and rebels and bystanders joined in beating him and clubbing his groin with a bayonet. Shortly thereafter, this bird of paradise among African autocrats was dead.

But shortly before he died, Gaddafi sold a fifth of Libya’s gold reserves, and most of the proceeds from this sale are still missing. The so-called Panama Papers could now shed light on the search for this incredible fortune.

Through a network of cryptic corporate investments, secret front companies and hidden bank accounts, Gaddafi had managed to set aside a fortune since the fall of the Libyan king in 1969. Oil had made Libya and, in turn, Gaddafi, rich. T