Posted on 02/21/2011 3:47:41 PM PST by Ernest_at_the_Beach
Libya's vast oil reserves have enabled it to invest more than $70bn (£43bn) around the world – making it a major shareholder in companies such as the Financial Times, Fiat and Juventus football club.
The Libyan Investment Authority (LIA), the crisis-stricken country's main financial vehicle, spent £224m on a 3% stake in Pearson, the education group behind the Financial Times, last June.
The LIA recently set up a hedge fund in London and has bought a host of properties in the UK, paying £155m for Portman House, a 146,550 square foot retail complex on Oxford Street, and £120m for an office at 14 Cornhill – opposite the Bank of England in the heart of the City. Libya is expected to pour billions more dollars into Britain in the next few years.
(Excerpt) Read more at guardian.co.uk ...
H/T to the Oil Drum .
$70 Billion???
The Usurper and CommieCrates have spent more than that on job training, namely $87 billion.
Of course, they cannot tell you how many where trained, what they where trained for, and if they found jobs after being trained!
And the GOP is having a hard time cutting out a mere $100 billion?
We are being taken for a ride down the river of no return by all those smiling faces of TV, including Fox news TV!
Now General Electric can sell the new “democratic” government a nuclear reactor.
“We are being taken for a ride down the river of no return by all those smiling faces of TV, including Fox news TV!”
The is just a small peek up the rug at what the islamists have done with al that money we have spent with them for oil while we’ve refused to get our own. There are so amny of our companies that are beholden to the islamists because they’re payed and bought for including our media. Just awhile back one phone call from a Saudi prince changed Fox’s report on a story.
each dollar jump in crude wipes out $100 billion in US GDP. That means that at face value, today’s move in the commodity complex, may have taken out as much as 5% of annualized GDP when fully processed through the economy!
It makes Algeria look like Beverly Hills. It makes Cairo look like Rodeo Drive. I have been in animal shelters that smelled better.
Yo Gadafi, WTF's the money?
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