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U.S. Seeks to Use Frozen Gadhafi Assets To Aid Rebels

[Are you effin’ kidding me?

So there are part of the alphabet agencies that are funding the rebels because they want perpetual war – along with SOMETHING with Libya – although we don’t fully know what it is.  It could be oil, it could be because Gadhafi wanted to start a gold-backed currency (HERE), maybe it has to do with simply taking his money (see the soveriegn wealth fund mention in this article), maybe simply because he’s an evil dictator.  Either way, I’m on the fence with this whole thing and haven’t leant one way or the other.

That being said, take this as PROOF that the baddies (see pic below) are OUT OF MONEY and they need to STEAL it to keep perpetual war going.

LOVE THEM MORE as they leave the stage!  t]

May 5, 2011
By STACY MEICHTRY And JAY SOLOMON

ROME—The Obama administration is working with Congress to pass legislation that would allow the U.S. government to tap assets held by Col. Moammar Gadhafi and his regime in the U.S. to help fund forces opposing the Libyan dictator, U.S. Secretary of State Hillary Clinton said on Thursday.

Mrs. Clinton and diplomats from more than 20 countries met in Rome Thursday to discuss their air campaign in Libya. On the agenda was a plan to bolster the finances of Libya’s struggling rebels—including the creation of a multibillion-dollar trust fund that would in part be filled by assets of the Gadhafi regime that have been frozen by the United Nations and the European Union.

The U.S. has allocated $25 million to help the rebels procure supplies, but because of legal issues it has so far declined to release any of the $34 billion in Libyan assets that were frozen by the Treasury Department this year in the wake of Col. Gadhafi’s violent crackdown on protesters, according to U.S. officials. Unlike France or Italy, Washington hasn’t recognized the rebel leadership council as Libya’s rightful government, complicating its ability to provide funding.

If Congress passes legislation allowing those assets to be tapped “we can make those funds available to help the Libyan people,” Mrs. Clinton said at the meeting.

She added that the U.S. Treasury Department was seeking to “remove barriers under our domestic law” that restrict the U.S. from oil-related transactions that benefit the National Transitional Council, the Benghazi-based political body of the opposition forces. Mrs. Clinton didn’t give details on the transactions she was referring to.

“Clearly on our agenda is looking for the most effective ways to deliver financial assistance and other means of supporting and helping the…opposition,” the secretary of state said during an earlier news conference in Rome.

Mrs. Clinton also called on her counterparts to turn up diplomatic pressure on Col. Gadhafi by sending envoys to Benghazi. Isolating the Gadhafi regime, Mrs. Clinton said, “includes suspending the operations of Gadhafi’s embassies and expelling pro-Gadhafi diplomats, as the United States and other countries have done, and sending envoys to Benghazi and facilitating the creation of [National Transitional Council] representative offices in capitals world-wide.”

The U.S. has sent an envoy to Benghazi. Mahmoud Jibril, the rebels’ de facto foreign minister, is expected to be in Washington next week and meet with Treasury officials.

The North Atlantic Treaty Organization-led air campaign against Col. Gadhafi’s forces has intensified in recent weeks, with allied jets attacking targets close to the Libyan leader. Yet the rebels seek more financial muscle for their efforts to bring down Col. Gadhafi’s regime. Libya’s economy is highly dependent on oil exports, and rebels have struggled to maintain control of ports and other facilities that would enable oil sales.

The creation of a trust fund—which could hold up to $4.5 billion, people familiar with the matter say—is seen as a way for the U.S. and its allies to closely monitor money dispensed to rebels by maintaining oversight of the fund, while involving the National Transitional Council in its management, said a person familiar with the matter. While rebels would be able to draw on the fund, it wasn’t clear whether they could buy weapons with the money because of a U.N. arms embargo on Libya.

The rebel leadership, in a letter last month to U.S. Treasury Secretary Timothy Geithner, proposed the creation of a trust fund that could be audited and co-managed by the rebels and foreign governments as a way to give rebels access to frozen Gadhafi assets.

In March, the EU froze foreign assets owned by the Gadhafi family and the dictator’s close lieutenants. The EU also froze stakes that Libya’s central bank and its sovereign-wealth fund, the Libyan Investment Authority, hold in large European companies, including a 7.6% stake in Italian lender UniCredit SpA.

ARTICLE CAN BE FOUND HERE.

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Comments (4)

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  1. John says:

    BEWARE, THE THIEVES ARE ON THE LOOSE AGAIN! It looks like the people who initially started the terrorism and the invasion of Lybia are now going to steal the assets of Gadhafi. I wonder how long it is going to be before the people of Planet Earth wake up to the criminal activities of the US led consortium?

    • admin says:

      John, I’m hoping it’s not that much longer.

      But as more and more of us become aware, then we start noticing this as being WRONG. I bet if this article came out (and I’m sure many like it did) 5 or 10 years ago, we wouldn’t have been as aware. Therefore, we are much more open to arrests. So I say… let’s get on with it!

  2. Alison says:

    Totally with you both on this one.

    So appreciate your comments in red, tony.

    I live in UK and although not in this case, I don’t always get the slant on different news articles from the other side of the pond so it’s really nice that you add your comments to clarify.

    My first thought when I saw this was “no more money, where can we get some in a way that (we think) will look good/OK to the plebs/surfs/call us what they will”.

    Our day is coming any minute now.

    Love to all,

    alison

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