by Joseph P. Farrell, Giza Death Star:

There’s some sort of story going on with that missing money of murdered Libyan dictator, Moammar Qaddafi. The trouble is, no one knows exactly what it is, but it has emerged, or rather, re-emerged, as a major story with the arrest and questioning of former French President Nicolas Sarkozy in connection with his financial dealings with the fallen Libyan dictator. As I stated last week, this is the largest arrest of anyone connected to “the cabal”. But again, exactly where Mr. Qaddafi’s money is, or where those frozen Libyan assets in Belgium disappeared to, or what connection any of it may have with M. Sarkozy, no one really knows.

Mr. P.R., a regular reader here, sent me a review of articles related to the matter that I thought was so good I decided to pass it all along to you, and you can make of it what you will. Firstly, according to this article from the Suddeutsche Zeitung, there are connections to the Panama Papers and the law-firm Mossack-Fonseca:

Lost Treasure

The basic idea to take away from this article is that Qaddafi hid much of his foreign assets in a series of holding companies, most of them leading back to Mossack-Fonseca, the Panamanian law firm at the center of the Panama Papers controversy.

Then Mr. P.R. found this BBC article from 2007, indicating the Sarkozy-Qaddafi connection, with ties to the G.W. Bush administration:

Sarkozy signs deals with Gaddafi

This article notes that Qaddafi and Sarkozy inked certain deals, and that Libya accepted responsibility for the PanAm Lockerbie disaster and agreed to pay compensation to the victims. That, I suspect, is a part of this story, but one which perhaps we’ll never learn. (However, for the record, it should be noted that there were a number of people on that flight that suggest that Libya’s may not have been the only hand at work in the disaster. That’s another story for another time perhaps.)

Then Mr. P.R. found this very suggestive story about Goldman Sachs apparently losing about 98% of a $1.3 billion investment from Qaddafi:

Goldman Sachs lost 98% of Gaddafi’s $1.3bn investment

In fact, this one is so good, one has to cite a bit of it, especially given that the same firm now has a presence in Mad Madam Merkel’s cabinet:

A bitter rift has opened up between the world’s most powerful bank and one of its most fearsome dictators after Goldman Sachs invested $1.3bn (£790m) of Colonel Gaddafi’s money – and lost virtually all of it.

According to an investigation by the Wall Street Journal, Goldman offered to make Gaddafi one of its biggest investors as compensation for losing 98% of the money the Wall Street firm invested on behalf of the Libyan Investment Authority (LIA). This left the $53bn Gaddifi-controlled sovereign wealth fund, which elsewhere has stakes in companies such as Financial Times-owner Pearson and BP, with just $25.1m of the money it entrusted to Goldman.

The fund, which has soared in value in recent years on the back of Libya’s growing oil wealth, was frozen by the EU and United Nations in February because of its close links with the Gaddafi family.

Under the terms of the proposed compensation deal, which was never consummated, LIA would have received $5bn worth of preferred Goldman shares, in return for a $3.7bn investment, allowing the fund to recoup its $1.3bn of losses.

So, Goldman loses a lot of Qaddafi’s money in the 2008 meltdown, then offers to make it up to him by allowing him to become a “preferred investor” at around the same time that the European Union freezes Qaddafi assets, which, according to stories earlier this year, have several billions of euros missing from those supposedly frozen accounts, while M. Sarkozy is under investigation.

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