200 Billion personal fund" - these assets were investments made all around the world and held in Gov't accounts, such as the Libyan Investment Authority or similar national government agencies .... the Central Bank of Libya, the Libyan Foreign Bank, the Libyan National Oil Corp. and the Libya Africa Investment Portfolio. Even news articles had to admit this.
http://www.latimes.com/news/nationworld/world/la-fg-kadafi-money-20111022,0,5740812.storyhttp://www.swfinstitute.org/swfs/libyan-investment-authority/"Summary:
For decades Libyan reserves from oil revenues was deposited in financial institutions yielding decent interest. In the recent decade, prevailing rates have dropped which has forced the Government of Libya to invest in financial assets with higher returns. The General Popular Committee established the Libyan Investment Authority.
It was established on August 2006 and the assets of the Libyan Arab Foreign Investment Company, the Libyan African Investment Portfolio, and Oilinvest Company were transferred into it. In addition, excess oil revenues are transferred to the Libyan Investment Authority. The fund invests through a number of external managers. LIA may make investments locally.
Sovereign Wealth Enterprises:
AUM amounts are prior to 5/17/2011
Long Term Investment Portfolio
Created in 1982, this portfolio of assets is around 10 billion USD. Most of which are invested in portfolios with financial institutions, real estate and cash deposits.
Libyan African Investment Portfolio
The fund has around $5.2 billion USD in capital and was created by the Libyan government in February 2006. It is a sovereign wealth enterprise (SWE) of the Libyan Investment Authority."
http://www.bloomberg.com/news/2011-09-16/un-drops-sanctions-on-libyan-oil-companies-eases-restrictions-for-banks.htmlThe Security Council voted 15-0 to adopt a resolution that unfreezes the assets of the Libyan National Oil Corporation and Zueitina Oil Company. The measure permits the Central Bank of Libya, the Libyan Foreign Bank, the Libyan Investment Authority and the Libyan Africa Investment Portfolio to purchase humanitarian aid, fuel, electricity and to back efforts to strengthen the nation’s government and economy.
http://www.informationclearinghouse.info/article27881.htmLibya was one of the few resource rich African countries where the wealth was not being siphoned into western multinational entities and private bank accounts.
Having a State Owned Central Bank, Libya was not a member of the club of Private Central Bankers, the Bank of International Settlements. One of the first acts of "The Rebels" was to establish a new private Central Bank of Libya.
http://www.informationclearinghouse.info/article27881.htm"One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned ... Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations."
Libya has a tiny national debt and is NOT in hock to the WTO / IMF / World Bank. Libya's 2010 national debt was less than $6.4 Billion & 9% of GDP at a per capita debt of only $970 per person.
http://en.wikipedia.org/wiki/List_of_countries_by_external_debtAs opposed to:
‘The Libyan monarchy of Idris, which was based in Benghazi, was installed by the United States and British in the 1950’s to oversee their economic and military interests in North Africa. Libya in 1951, under the leadership of King Idris, officially had the lowest standards of Living in the world. The Idris monarchy was overthrown in a bloodless revolution led by Muammar al-Gaddafi in 1969. This led to the American Wheelus Air Base (The largest American base outside of US at that time) being dismantled and the American and British armed forces stationed in Libya evacuating. The western oil companies were then nationalized.’
http://globalciviliansforpeace.com/tag/king-idris/Oil production in Libya before the Qaddafi revolution was greater than after, but almost no investment went into Libya from these funds.
Nigeria and South Africa provide stark contrast to Libya. Although Libya has the largest oil reserves in Africa, the largest producer is Nigeria, producing twice as much as Libya, yet 70 percent of the Nigerian population lives in poverty and the country operates under crushing international debt, which much federal revenue is dedicated to servicing.
In South Africa, a century of exploitation of its vast wealth in gold and diamonds left Anglo American Corp and the finance houses of England and Holland with vast wealth, but delivered $18 Billion of debt to the post-apartheid government.
In contrast, post-Qaddafi Libya is left with hundreds of billions in surplus in Gov't accounts ........ obviously, unhidden.
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