Water is the transport vehicle for everything in the body - and blood is 94% water. Even the lipoprotein "boats" that are mentioned in medical annotations are transported via water.
A few of the functions of water that tie in with the cholesterol issue include 1) it transports nutrients to the cells, 2) it is an important part of hydrolysis which is needed to burn calories for energy, 3) it cleans metabolic waste from the cells once the energy has been produced, 4) it carries the waste away to be discarded.
Water is the most important substance needed by the body because every function is tied to it. Water is also the one thing that you don't get from food - you have to physically drink it. When you don't drink enough, you become dehydrated.
When you get dehydrated, the blood loses 8% of its water volume, causing it to thicken due to the metabolic waste it contains. It also becomes very acidic.
As this thickened acidic blood is pumped through the arteries under a shearing pressure, minute tears and abrasions develop that could peel off and become embolisms. The job of cholesterol is to cover and protect this damage like a waterproof bandage until it can be repaired.
It is interesting to note that the lipoproteins talked about by medical professionals travel throughout the entire cardiovascular system but only build up in the arteries and the major vessels. There has never been a documented case where the veins have ever been obstructed by cholesterol - venous blood moves slower through the system and would thus be more inclined to become clogged if the theory of "bad" cholesterol were true.
The reason it doesn't - and the reason cholesterol buildup only affects the arteries and main vessels is that these are the pressurized side of the system and this is where acidic blood from dehydration inflicts the damage. Cholesterol, then, is a life-saving substance.
The reason it builds up is that the problem of dehydration isn't corrected properly, and the medical profession would rather make money selling their temporary solutions that only manage the issue, not fix it.
The medications are actually more dangerous. Each time they remove the cholesterol the damaged tissues are exposed to even further damage. More cholesterol forms in an attempt to protect the arteries, but eventually, something has to give - and the damaged tissues are the weakest link.