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The Post-Gaddafi Boom: In Libya, Foreign Bankers See a Coming Bonanza
Time ^

Posted on 06/09/2011 8:47:48 PM PDT by Jim 726

Muammar Gaddafi remains hunkered down in Tripoli, ever defiant despite the the heaviest bombing of NATO's three-month campaign. But outside Libya, the talk has moved on from war to the business opportunities offered by a post-Gaddafi Libya.

It's hard to envision a booming Libyan economy with the country's communication infrastructure shattered by bombs and its oil fields abandoned and idle. Yet economists and investors say that as an intensifying NATO campaign brings Gaddafi's 42-year rule closer to its end, a bright future lies ahead — with Libya's mammoth energy reserves capable of financing a postwar development program strong enough to serve as a growth engine for the region. "Libya has $250 billion in foreign-exchange reserves, and it can just keep on tapping into foreign currency because of its oil sales," says Jacob Kolster, North Africa director for the African Development Bank. "The potential is huge." (Read about what mediating in Libya could cost Medvedev.)

Gaddafi's Libya is hardly poor, with few of the problems that beset neighboring Egypt, where about 40% of people live on about $2.50 or less a day. The average Libyan household income is more than $14,000 a year, according to U.N. statistics, and the literacy rate is about 86%.

(Excerpt) Read more at time.com ...


TOPICS: News/Current Events
KEYWORDS: internationalbanking; libya; nato; oup

1 posted on 06/09/2011 8:47:52 PM PDT by Jim 726
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To: Jim 726

You get this impression that the Goldman Sachs folks had this one planned out.


2 posted on 06/09/2011 8:49:41 PM PDT by pepsionice
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To: All

And now you know... The rest of the story.


3 posted on 06/09/2011 8:49:57 PM PDT by Jim 726
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To: Jim 726
Hmmm. Sounds just like a war for oil to me.

Obama is a colossal hypocrite. He got into power by attacking Bush for the Middle East wars.

Funny thing, Bush was trying to stop terror attacks against the US. We didn't get any of the oil. Price here in Seattle is $4.09.


4 posted on 06/09/2011 8:55:54 PM PDT by garjog
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To: Jim 726

Indeed! We now know the reason why Libya was attacked while it’s hands off Syria. Trying to protect the people? Yeah.


5 posted on 06/09/2011 8:59:52 PM PDT by CitizenUSA (Coming soon...DADT for Christians!)
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To: pepsionice

I would be delighted to see a trial and conviction of Obama for this illegal war. The UN mandate clearly does not authorize targeting Qaddafi personally and does not authorize regime change. Furthermore, Obama has violated the War Powers Act. That said, I wonder if what we are really doing is frantically trying to establish a base of operations to be used in a conflict with Iran and this regime change/save the civilians ruse is the best we could come up with on short notice?


6 posted on 06/09/2011 9:11:50 PM PDT by tyrem1166 (Colonial typeface/font)
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To: Jim 726
In the title, Bombing Bonanza is misspelled.
7 posted on 06/09/2011 9:17:49 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Jim 726

As long as it doesn’t become a failed state and post-Qaddafi terrorist sh**hole in the process.


8 posted on 06/09/2011 9:29:01 PM PDT by headstamp 2 (We live two lives, the life we learn and the life we live with after that.)
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To: pepsionice
They have lost billions of daffys money, what do you think, they damn sure do not want to pay him.
9 posted on 06/09/2011 9:44:35 PM PDT by org.whodat
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To: Jim 726

Hat tip to all the FReepers who called this as a Soros-backed financial deal.


10 posted on 06/09/2011 11:23:28 PM PDT by TigersEye (Who crashed the markets on 9/15/08 and why?)
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To: All

Oh, now I see...so when its a Republican Pres its all blood for oil....but when the Pres is a Democrat, its all good.....ughhhh, the hypocrisy is stifling....:(


11 posted on 06/10/2011 6:50:45 AM PDT by hotsteppa
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