time to liberate libya again

[cheka.]

https://www.rt.com/business/345196-libya-new-banknotes-launch/

The Central Bank of Libya, established by the unrecognized eastern government, is preparing to circulate alternate national banknotes printed in Russia despite protests from Tripoli.

Read more
© Beida CBL Libya's parallel central bank issues banknotes printed in Russia

The eastern Beida-based bank says it plans to put the first 200 million new dinars into circulation by the weekend. Local banks will reportedly extend working hours to meet the demand.

The move has drawn protest from the country's UN-recognized central bank in Tripoli. The official Libyan currency is printed in the UK.

The eastern bank's governor Ali Salim al-Hibri said there would be no conflict with the existing currency. “The printed notes are worth four billion Libyan dinars and are the same size and denominations as the current banknotes,” he said in an interview with a local TV channel last week.

Samples of the new banknotes were presented at a meeting of the two Central Banks of Libya and the Presidential Council in Tunis.

The US embassy and Western diplomats in Libya have called the new currency “counterfeit”.

They fear the new flow of cash with its own design, serial numbers and watermarks, which might cause economic chaos as well as strengthen the political rift in the war-torn country.

Newly issued bank notes by the Central Bank of #Libya in al-Bayda arriving in #Benghazipic.twitter.com/IpZt2RVgxg
— Alwasat (@alwasatengnews) June 1, 2016

The Central Bank of Libya in Tripoli is recognized as the only financial institution that acts under the stewardship of the UN-proposed government, according to the US embassy.

Libya is in the middle of a long-term liquidity crisis with Libyans reluctant to deposit their cash in banks. The deficit of cash has caused queues and a strict limit on withdrawals to 500 dinars a day.

The political dispute between the UN-recognized Tripoli government led by Fayez Sarraj and the Tobruk-based parliament loyal to General Khalifa Haftar in Libya's east caused a split in the country and its financial institutions.

[Joshua01]

Who and what the fuck are we fighting for over there? Anyone ever ask that question?

[Cebu_4_2]

Oil.

[Joshua01]

Oil.

We don't need it. Leave them alone

[Glass]

We don't need it. Leave them alone

yes but they need it and we shouldn't ought to let them have any

[cheka.]

We don't need it. Leave them alone

this is where EVERYONE gets it exactly wrong

it's not about controlling/seizing oil assets to produce. it's about controlling assets to NOT produce

[Cebu_4_2]

this is where EVERYONE gets it exactly wrong

it's not about controlling/seizing oil assets to produce. it's about controlling assets to NOT produce


Central bankers...

[Neuro]

Who and what the fuck are we fighting for over there? Anyone ever ask that question?

Central bank control. The oil argument doesn't hold, countries "liberated" by US and cabal ends up producing way less than half for decades after "freedom". I think Libya right now is producing about a quarter of what they did in 2010. Gaddaffi was about to introduce a pan-African gold dinar, and sell oil for physical gold. Saddam Hussein was going to ditch the petrodollar trade. These challenges to Central Bank hegemony can't be left standing. North Korea is left alone, because even though they have an independent (from the Jew Cabal) central bank, they don't have anything the world would like to buy, and thus isn't a challenge to the Ratshitz. Just let them isolate themselves, and be a constant reminder to the world at large what a pariah state is...

[osoab]

Oil.

Italy's oil.

[JohnQPublic]

Italy's oil.

Isn't that olive oil (and sunflower oil)?

[Ares]

Who and what the fuck are we fighting for over there? Anyone ever ask that question?

Here's your answer:

http://evilzionistisrael.files.wordpress.com/2014/04/figure-3-large1.jpg

[cheka.]

the plot thickens. libya fund going after goldman for a billion

http://www.ft.com/cms/s/0/d8b1424c-34a2-11e6-bda0-04585c31b153.html#axzz4C05hTWHm

It was a week when London’s High Court heard the lurid details about a Goldman Sachs banker procuring prostitutes to develop ties with the Libyan Investment Authority and then fearing for his life when the investments the US bank had sold to the wealth fund turned sour.

The court on Friday was told how the bank paid for staff from the LIA to stay in five-star London hotels and offered them corporate entertainment including football and theatre tickets.

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On this topic

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However, Robert Miles QC, the barrister representing Goldman, told the court that there was “nothing unusual” about the corporate hospitality, on the third day of the trial in a $1bn claim brought by the LIA against the US investment bank which opened in London this week.

Libya’s wealth fund claims that Goldman exploited its limited experience in 2008, forcing it into nine risky and ultimately lossmaking derivative trades. Goldman denies the claims and that it exerted “undue” influence over the LIA.

The case is unusual because it shines a rare spotlight on one of the world’s most powerful investment banks and its dealings with a sovereign wealth fund in 2007 and 2008 just before the financial crisis.

So far the trial has heard that Goldman bankers descended “like a swarm” to win lucrative business from the “fledgling” wealth fund, that Goldman made derogatory remarks about their Libyan clients, and that LIA executive director Mustafa Zarti “really went berserk” on discovering that the fund’s trades had turned sour.

On Friday, Abdulfatah Enaami, a former senior official at the LIA, told the trial that LIA staff were entertained and provided with chauffeur-driven cars by the investment bank whilst on a Goldman training course in London and the LIA had a “special relationship” with the US bank.

Goldman offered corporate hospitality to the LIA whilst its officials were in London on Goldman training courses, the court heard.

more at link..

[cheka.]

wonder who was on the other side of the billion dollar loss

https://next.ft.com/content/e5473768-33cc-11e6-bda0-04585c31b153

The LIA is suing Goldman claiming the bank exploited the LIA’s limited financial experience and forced it into nine risky trades losing it $1.2bn.

[cheka.]

blockade, bitchez

http://abcnews.go.com/US/wireStory/votes-eu-ships-off-libya-seize-illegal-arms-39855020

The U.N. Security Council on Tuesday unanimously adopted a resolution allowing the European Union's maritime force off Libya's coast to seize illegal weapons that are helping to fuel violence and instability in the North African nation, including by Islamic State extremists.

The British-drafted resolution authorizes EU ships in Operation Sophia — now charged with seizing migrant-smuggling vessels — to also stop vessels on the high seas off Libya's coast suspected of smuggling arms in violation of a U.N. arms embargo.

Council President Francois Delattre of France said before the vote that the resolution, if passed, had the potential to be a "game changer" for Libya.

"We would finally have the means to enforce the arms embargo in Libya," he said. "In doing so, we will be better equipped to fight against" the Islamic State group.

[cheka.]

nyc has your fund. and it is disappearing fast

http://blogs.wsj.com/riskandcompliance/2016/06/15/libya-seeks-to-free-up-sovereign-fund-but-banks-face-risks/

The Libyan Investment Authority isn’t only pursuing its interests through legal action against top global financial firms, but also lobbying the United Nations Security Council to soften an asset freeze on its funds to halt their declining value.

Assets managed by the LIA stood at approximately $67 billion at the end of 2012, but have decreased to between $55 billion and $60 billion, according to the latest report by a U.N. expert panel on Libya. In a letter to the Security Council dated March 21, the permanent representative of Libya said that in 2014 alone, the value of LIA’s asset base had real losses of $721 million, and missed the chance of earning an additional $1.6 billion to $2.3 billion

[cheka.]

here we go again -- training and arming mercs

http://www.washingtontimes.com/news/2016/may/22/libya-wary-of-latest-pentagon-effort-to-train-arm-/

Libyan diplomats are urging caution over an evolving U.S. plan to arm and train the country’s militias again to battle the growing Islamic State threat, fearing a repeat of the abysmal Pentagon-led program that ended with only a few hundred trained fighters and U.S. weapons in the hands of Islamist militias in Libya.

Defense Department officials shuttered the military’s initial program to train and equip moderate rebel forces in Libya late last year after only 180 rebels successfully completed the program, at a cost of millions of dollars to U.S. taxpayers.

[Ponce]

A bully will be a bully till someone beat them up........and show them how much it hurts.

B

[cheka.]

http://www.thefiscaltimes.com/2016/05/20/US-Troops-Are-Headed-Libya-and-s-Bad-News-Hillary-Clinton

The U.S. is inching closer to a deal that would see a long-term commitment of troops to Libya to fight the Islamic State.

“There’s a lot of activity going on underneath the surface,” Marine Gen. Joseph Dunford, chairman of the Joint Chiefs of Staff, told reporters traveling with him back from NATO headquarters in Brussels.

“There will be a long-term mission in Libya,” the nation’s top general said, according to The Washington Post. “We’re just not ready to deploy capabilities yet because there hasn’t been an agreement. And frankly, any day that could happen.”