A case of history repeating... *LINK*
Posted By: karibkween In Response To: The Big Shakedown *NM* *LINK* (three_sixty)
Date: Thursday, 26 May 2011, at 1:06 p.m.
In Response To: The Big Shakedown *NM* *LINK* (three_sixty)
"Some of the biggest and best-known financial institutions in the world held billions of dollars of Libyan state funds, a leaked report has revealed.
Principal among them were HSBC, Royal Bank of Scotland, Goldman Sachs, JP Morgan Chase, Nomura and Societe General, Global Witness said.
The banks refused to say whether they held, or are still holding, the funds."
"The document, dated June 2010, showed that HSBC held $292.7m (£179.9m) in 10 cash accounts, with a similar amount invested in a hedge fund, while Goldman Sachs had $43m in three accounts.
Almost $4bn was held in investment funds and structured products, with Societe General alone holding $1bn.
Japanese bank Nomura and Bank of New York also held $500m each.
A much larger proportion of Libyan Investment Authority's assets - $19bn in total - were held by Libyan and Middle Eastern Banks, the document revealed.
It also showed that the Libyan Investment Authority (LIA) holds billions of dollars in shares in global corporations such as General Electric, BP, Vivendi and Deutsche Telekom."
Mansa Musa's Gold
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