ENTERING "THE SHARK PIT" Colonel Gaddafi knew that political unity must be grounded in economic unity. He was the main force behind the founding of the African Union (AU), and pressed for a single African currency and an African Central Bank. These plans would take colossal amounts of money - even more than Libya’s oil revenues were taking in. The only place to get that kind of money fast was to enter the shark pit itself – Wall Street – and the Libyan Investment Authority (LIA) starting doing business with the most vicious shark of them all – Goldman Sachs. At first, Libya suffered tremendous losses, but then, as Professor Campbell puts it, Libya went for the jugular. The whole of the Wall Street Ponzi Scheme rests on the Petrodollar, and the laundering of Petrodollars through the “dark markets” of Dubai. Professor Campbell writes: “After December 2010, the Central Bank of Libya took a controlling position in Arab Banking Corporation, based in Bahrain. The Arab Banking Corporation was owned by the Kuwait Investment Authority, the Central Bank of Libya, Abu Dhabi Investment Authority, and other shareholders with minor shares. Any move for making independent decisions in the Arab Banking Corporation threatened the web of speculators in the derivatives industry that depended on the recycling of Petrodollars from the oil-rich nations of Kuwait, Libya, and the Emirates. Libya had gone for the jugular, by seeking to capture the base of the Intercontinental Exchange.” Professor Campbell concludes: “It is now clearer that the decision to execute Muammar Gaddafi was made to silence one voice for anti-imperialism. Far from humiliating and silencing Africans, there is now a realisation that the work for the freedom and unity of Africa must be engaged with even more clarity. The execution had the opposite effect, and the work of expelling foreign military forces from Africa will now be more intense.” (pub.mathaba.net/2013/09/19/book-review-global-nato-and-the-catastrophic-failure-in-libya-lessons-for-africa-in-the-forging-of-african-unity-by-horace-campbell/)
Posted on: Thu, 19 Sep 2013 09:37:02 +0000