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Bloomberg - Jun 2, 2011
Societe Generale (GLE) SA designed a $1 billion bet on its own shares for Libya’s sovereign wealth fund in March 2008, and the investment had fallen 72 percent in value by the middle of last year, the Financial Times reported, citing documents that it’s reviewed.
The transaction involved a $1 billion note, repayable to the Libyan Investment Authority in 2018, that would reflect the performance of an equivalent investment in SocGen’s shares; the bank told the Libyans that, while an equity investment in dollars would be subject to currency fluctuations, a derivatives transaction would hedge that risk, the newspaper said.
The episode is an example of how prominent European and U.S. financial companies did business with President Muammar Qaddafi’s Libya in ways that, whatever the benefits or lack of them for Libya, generated substantial fees for themselves, the FT said.
http://www.bloomberg.com/news/2011-06-0 ... ports.html
8bitagent wrote:Anyone care to guess what's coming down the pipeline, and for what reasons?
There now seems to be no coincidence that virtually every single Arab Islamic nation since January from North Africa to the Middle East have erupted into revolutions and chaos.
brainpanhandler wrote:No. And I really think you should stop predicting what the evil, invisiible overlords have in store for us as well. THEY do not have that much power. OK? So stop assigning it to them. If I had a nickle for every time you said you had a feeling something dark and spooky was "coming down the pipeline', well, I'd have a handfull nickles. Even a stopped clock is right twice a day.
brainpanhandler wrote:.. If I had a nickle for every time you said you had a feeling something dark and spooky was "coming down the pipeline', well, I'd have a handfull nickles big enough to block out the sun. ..
8bitagent wrote:Surprised in all my years in parapolitics I never heard of this fellow [Lupercals former LaRouche-ist, WF Engdahl].
82_28 wrote:8bit should not do any such thing. Let the man predict and speculate all he wants.
lupercal wrote:I can think of even dodgier pasts that don't seem to trouble most here one whit. . .
lupercal wrote:^ He says in the interview that a key motive is getting control of their oil and stealing their sovereign wealth funds, and if what's happening in Libya is any indication he's right. I've heard cheerful reports on NPR about the clever ways banksters are planning to steal Libya's sovereign wealth funds invested in the US, which are substantial, and apparently they've stolen quite a lot already, like that $1.2 billion by Goldman Sachs "lost" in six months. Here's another bil that a French outfit managed to "lose":Bloomberg - Jun 2, 2011
Societe Generale (GLE) SA designed a $1 billion bet on its own shares for Libya’s sovereign wealth fund in March 2008, and the investment had fallen 72 percent in value by the middle of last year, the Financial Times reported, citing documents that it’s reviewed.
The transaction involved a $1 billion note, repayable to the Libyan Investment Authority in 2018, that would reflect the performance of an equivalent investment in SocGen’s shares; the bank told the Libyans that, while an equity investment in dollars would be subject to currency fluctuations, a derivatives transaction would hedge that risk, the newspaper said.
The episode is an example of how prominent European and U.S. financial companies did business with President Muammar Qaddafi’s Libya in ways that, whatever the benefits or lack of them for Libya, generated substantial fees for themselves, the FT said.
http://www.bloomberg.com/news/2011-06-0 ... ports.html
Coincidence I'm sure.
brainpanhandler wrote:8bitagent wrote:Anyone care to guess what's coming down the pipeline, and for what reasons?
No. And I really think you should stop predicting what the evil, invisiible overlords have in store for us as well. THEY do not have that much power. OK? So stop assigning it to them. If I had a nickle for every time you said you had a feeling something dark and spooky was "coming down the pipeline', well, I'd have a handfull nickles. Even a stopped clock is right twice a day.There now seems to be no coincidence that virtually every single Arab Islamic nation since January from North Africa to the Middle East have erupted into revolutions and chaos.
There was never any coincidence about it. The forces creeating the popular revolts and instability in the middle east are fairly well known in a generalized sense. Please don't trivialize the brave popular revolts in the middle east as being all stage managed by the invisible, all powerful cabal you believe is behind everything that happens in the world. Human beings actually still have some agency to alter their circumstances, you know?
wintler2 wrote:brainpanhandler wrote:.. If I had a nickle for every time you said you had a feeling something dark and spooky was "coming down the pipeline', well, I'd have a handfull nickles big enough to block out the sun. ..
Fixed that for ya.
And i'll add a slab of loud derision over your mild rebuke BPH, it is way beyond a joke how often some posters wank on about how their 'spidey sense is tingling'.
If they were just making fools of themselves, whatev', but the made-up history that often goes with it borders on outright misinformation - "While Indonesia descended into total anarchy in the late 1990's, and later Thailand.." - what utter bullshit.
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