Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on August 5, 2019

Bookmark and Share

America doesn’t win wars anymore

America doesn’t win wars anymore thumbnail

A month into his presidency, Donald Trump lamented that the US no longer wins wars as it once did.

“When I was young, in high school and college, everybody used to say we never lost a war,” Trump told a group of US governors last February. “Now, we never win a war.”

Dominic Tierney, a professor at Swarthmore College and the author of multiple books about how America wages war, may know the reason why.

He believes the US can still successfully fight the wars of yesteryear — World War-style conflicts — but hasn’t yet mastered how to win wars against insurgents, which are smaller fights against groups within countries. The problem is the US continues to involve itself in those kinds of fights.

“We’re still stuck in this view that war is like the Super Bowl: We meet on the field, both sides have uniforms, we score points, someone wins, and when the game ends you go home,” he told me. “That’s not what war is like now.”

The US military is currently mired in conflicts in countries like Afghanistan, Iraq, Syria, and Yemen. It’s hard to see any end in sight — especially an end where the United States is the victor, however that’s defined.

A lightly edited transcript of our conversation follows.

Alex Ward

During his first year in office, Trump got the US more deeply involved in wars, with the goal of defeating terrorists in Iraq, Afghanistan, Syria, and Somalia. But has this put the US on course to end these fights?

Dominic Tierney

Victory may be asking a lot.

Since 1945, the United States has very rarely achieved meaningful victory. The United States has fought five major wars — Korea, Vietnam, the Gulf War, Iraq, Afghanistan — and only the Gulf War in 1991 can really be classified as a clear success.

There are reasons for that, primarily the shift in the nature of war to civil conflicts, where the United States has struggled. Trump himself recognized this: He said on the campaign trail numerous times that we used to win wars and we don’t win anymore. And he has promised to turn the page on this era of defeat and said that we were going to get sick and tired of winning.

But will he channel that observation into winning wars? I doubt it.

The nature of war continues to be these difficult internal conflicts in places like Afghanistan, where the United States has struggled long before Trump ever dreamed of running for president.

Alex Ward

So what constitutes victory in war today, and has that changed from the past?

Dominic Tierney

The famous war theorist Carl von Clausewitz argued that war is the continuation of politics by other means. So war is not just about blowing things up — it’s about achieving political goals.

The United States, up until 1945, won virtually all the major wars that it fought. The reason is those wars were overwhelmingly wars between countries. The US has always been very good at that.

But that kind of war has become the exception. If you look around the world today, about 90 percent of wars are civil wars. These are complex insurgencies, sometimes involving different rebel groups, where the government faces a crisis of legitimacy.

The US has found, for various reasons, that it’s far more difficult to achieve its goals in these cases. The three longest wars in US history are Vietnam, Iraq, and Afghanistan — all from recent decades, all these complex types of civil wars.

Alex Ward

On its face, this seems to be a paradox: The US can win on the battlefield against a major military force, but we can’t seem to win these smaller wars.

Dominic Tierney

Yes. And even more surprising: It’s when the US became a superpower and created the best-trained, strongest military the world has ever seen, around 1945, that the US stopped winning wars.

The answer to the puzzle is that American power turned out to be a double-edged sword.

The US was so powerful after World War II, especially after the Soviet Union disappeared, that Washington was tempted to intervene in distant conflicts around the world in places like Vietnam, Iraq, and Afghanistan.

We ended up intervening in countries where we had little cultural understanding. To illustrate this, in 2006 — at the height of the Iraq War — there were 1,000 officials in the US embassy in Baghdad, but only six of them spoke Arabic.

In addition, the US military has failed to adapt to this new era of war. The US military has this playbook for success against countries: technology, big-unit warfare, and so on. And when we started fighting insurgents, it was natural that we would turn to that same playbook.

Alex Ward

So we might not have much cultural understanding of the places where we’re fighting, but we have greater technology and better fighting forces. Why can’t we overcome this obstacle?

Dominic Tierney

The reason, again, comes down to the difference between an interstate [more traditional] war and a counterinsurgency, or nation-building mission.

One difference is that we cannot easily see the enemy. In an interstate war, the enemy is wearing uniforms, we know where they are on a map. In a counterinsurgency they are hiding in the population.

Now, the US military is capable of hitting any target with pinpoint accuracy using the latest hardware. But what if we don’t know where the enemy is? A lot of that technology, which is really impressive, turns out to be irrelevant.

Alex Ward

It seems like we have two problems here. We haven’t corrected our way of thinking to deal with insurgencies or civil wars, and then we keep getting involved in those kinds of wars, despite the fact that we’re ill-prepared to deal with them.

Why do we keep falling into this trap?

Dominic Tierney

One answer is we basically believe in illusions — the idea that nation-building and counterinsurgency will be avoided.

Look at Iraq, where the United States believed it could topple Saddam Hussein and basically leave as quickly as possible. We would overthrow the tyrant and then the Iraqi people would be free to create their own democracy. That was based on massive overconfidence about what would happen after Hussein fell.

So why do we go to war if we hate counterinsurgency and we struggle at it? The reason is the White House convinces itself it doesn’t need to stabilize or help rebuild a country after a war. But it’s not just the Bush administration — think of the Obama administration too.

Barack Obama was a very thoughtful president and talked at length about his foreign policy thinking. At the heart of the Obama doctrine was “no more Iraq War.” And yet he basically made the same mistake in Libya, where there was very little planning for what would occur after Muammar Qaddafi was overthrown in 2011. In fact, Obama went on the record saying that the Libya intervention was his worst mistake a president.

Alex Ward

So if it really is a bunch of wishful illusions and incorrect assumptions, how do we avoid that? We have tons of evidence that things don’t go our way when we get involved in these kinds of wars. We don’t seem to learn from our mistakes.

Dominic Tierney

We don’t learn very well from history. Presidents convince themselves that the next time will be different.

The lesson Obama took from Iraq was not to allow any US ground forces to get involved in nation-building. Since Obama was willing to support regime change, the end result was going to be the overthrow of Qaddafi with no real plan to stabilize Libya.

If a thoughtful president like Obama — who was very cognizant of the errors of Iraq — can do that, it suggests that any president would be capable of doing that.

Alex Ward

It seems like one of the problems is that we’re involving ourselves in these wars with little preparation. How do we solve that?

Dominic Tierney

We need better language training, cultural training, more resources for special forces — and that would mean less money spent on nuclear attack submarines, for example.

Second, once we improve America’s ability for stabilization missions, we deploy the US military with greater care and fight fewer wars. That means when we do fight, we have a better plan to win the peace.

Alex Ward

But then there’s another problem: Sometimes groups like ISIS arise, and US leaders and many Americans want the military to take them out. So when the president is faced with the option to target a group like ISIS with airpower, some would argue that it’s better, politically, to do that.

Dominic Tierney

The US doesn’t think several moves ahead. The US military is good at taking out bad guys. But the removal of the bad guy creates a power vacuum, and that power vacuum is filled by somebody else.

In Afghanistan, we created disorder and then the Taliban returned — the power vacuum there was also filled by ISIS. And in Iraq, the vacuum was filled by militant groups, most notably al-Qaeda in Iraq. In Libya, the vacuum was filled by a complicated range of militant groups.

The mood in the US is: “We just killed ISIS, let’s go home and close the book on the ISIS war.” Well, there’s more to the story.

Alex Ward

The Trump administration says it will pay less attention to defeating terrorists and will now focus more on battling back growing Chinese and Russian power.

That new strategic focus means we’ll change the kinds of weapons we buy and the kind of training our troops do. But I don’t see the US stopping its fight against terrorism. Does this preparation for a different style of war — while still fighting another — put the US in an awkward position?

Dominic Tierney

I think it does.

There is a desire to shift from difficult nation-building missions toward countering great-power challengers like Russia and especially China. But this isn’t very new. The Obama administration wanted to pivot to Asia and the China challenge. And then what happened? We ended up being engaged against ISIS.

I tend to think that the pivot to China is sort of like Waiting for Godot — it never arrives. And I think the United States is going to get drawn back into these civil wars and these kinds of messy conflicts, particularly in the broader Middle East. The odds of conflict between the US and China are very low; the odds of the US engaging in another civil war in the next five years are extremely high.

Alex Ward

Based on this conversation, victory in war seems to be how we define it, or, rather, will it to be. The US sets its victory goals low, but we don’t even meet those lower goals. Why can’t we get over this hump?

Dominic Tierney

We’re still stuck in this view that war is like the Super Bowl: We meet on the field, both sides have uniforms, we score points, someone wins, and when the game ends you go home. That’s not what war is like now. Now there are tons of civilians on the field, the enemy team doesn’t wear a uniform, and the game never ends. We need to know there’s no neat ending.

The costs of this problem have been so catastrophic for the United States, in the form of thousands of military lives and billions of dollars spent. It’s time we fundamentally rethink our vision of what war is.

VOX



363 Comments on "America doesn’t win wars anymore"

  1. Gaia on Mon, 5th Aug 2019 9:29 am 

    Wars are based on profits, not on principles or morality.

  2. Documented JuanP sock on Mon, 5th Aug 2019 9:31 am 

    Gaia on Mon, 5th Aug 2019 9:29 am

  3. Robert Inget on Mon, 5th Aug 2019 10:08 am 

    Trump doubles down: ‘Trade wars are good, and easy to win’

    PUBLISHED FRI, MAR 2 2018 7:38 AM ESTUPDATED FRI, MAR 2 2018 10:32 AM EST

    Let’s take up a collection for the embattled Don.
    EVERYONE here should sign a get well card to Our Great Leader.

  4. Documented Davy Insanity on Mon, 5th Aug 2019 11:16 am 

    Documented JuanP sock on Mon, 5th Aug 2019 9:31 am

  5. eugene on Mon, 5th Aug 2019 11:59 am 

    First of all, WE did not “win” the First or Second world wars. We entered the First very late in the game and Russia won the Second. D day came very late and only after Russia had Germany on the run. But, what the hell, you want to believe the propaganda, have at it. Personally I dropped the superiority routine during Vietnam.

  6. JuanP on Mon, 5th Aug 2019 12:09 pm 

    “Russia won the Second”

    First nobody wins wars it is a everyone loss. Second the Nazis lost Russia didn’t win. Russia due to its incompetence allowed for WW2. If they would have resisted the Nazis in the very begging it would have been a different war. Third Russia wasted millions through horrible and inhuman military leadership.

  7. Davy ID Theft on Mon, 5th Aug 2019 12:11 pm 

    JuanP on Mon, 5th Aug 2019 12:09 pm

  8. Robert Inget on Mon, 5th Aug 2019 12:25 pm 

    I’m far more concerned today around Trump’s war on ‘The Rule of Law’, democracy, ‘The War on Trade’.

  9. Davy on Mon, 5th Aug 2019 12:28 pm 

    “China Is Extremely Angry, And Now Considers The United States To Be Enemy #1”
    https://tinyurl.com/y4zn4htq zero hedge

    “Have relations between the United States and China finally reached the point of no return? At this moment, it would be difficult to overstate how angry the Chinese are with the United States.”

    “Chinese officials are firmly blaming the United States for the enormous political protests that we have witnessed in Hong Kong in recent weeks, and on Thursday President Trump slapped another round of tariffs on Chinese imports. Sadly, most Americans aren’t even paying much attention to these developments, but over in China everyone is talking about these things. And of course the truth is that they aren’t just talking – the Chinese are absolutely seething with anger toward the U.S., and they aren’t afraid to express it.”

    “The following comes from the New York Times…”

    “They stir up more troubles and crave the whole world to be in chaos, acting like a shit-stirring stick,” Mr. Kang said on the usually stolid 7 p.m. national news program on CCTV, China’s state broadcaster. The expletive quickly became one of the most-searched-for phrases on Chinese social media.”

    “In a follow-up video on a CCTV social media account, Mr. Kang boasted about how he had taunted the United States.”

    “If a handful of Americans always stir up troubles, then we are sorry,” he intoned. “No more do we talk about certain issues. We will also target you. We will bash you till your faces are covered with mud. We will bash you till you are left speechless.”

    Looks like we fucked up real bad this time.

  10. Boney Joe. on Mon, 5th Aug 2019 12:46 pm 

    “China Is Extremely Angry, And Now Considers The United States To Be Enemy #1”
    https://tinyurl.com/y4zn4htq zero hedge

  11. JaunP on Mon, 5th Aug 2019 12:47 pm 

    Hey Bone. That was a zero hedge article

  12. Boney Joe on Mon, 5th Aug 2019 12:48 pm 

    Juanita, it’s ok zero hedge does not blind you

  13. Boney Joe. is Davy on Mon, 5th Aug 2019 12:51 pm 

    Davy is Boney Joe.

  14. JuanP is Davy on Mon, 5th Aug 2019 12:52 pm 

    Davy is JuanP

  15. Robert Inget on Mon, 5th Aug 2019 12:57 pm 

    I’ll vote for a monitored ‘comments’ section.
    Ones actual name needs to jibe w/ email address.

    If not, crazies win.
    “Peakoil.com” may as well go off the air.

  16. JuanP on Mon, 5th Aug 2019 1:15 pm 

    Robert, you known why I rule? Because dumbass I can take anyone’s ID as my own which I have been doing for over a year now with Davy. I can make up multiple socks as needed to distort the comment feed. I want to take PO dot com down. I am pissed off now and all of you will pay

  17. Cloggie on Mon, 5th Aug 2019 1:20 pm 

    I’ll vote for unique user/password combinations.
    That’s sufficient to terminate identity theft.
    No moderation required.
    That’s sufficient to rescue this board.

  18. More Davy ID Theft and Projections on Mon, 5th Aug 2019 1:57 pm 

    JuanP on Mon, 5th Aug 2019 1:15 pm

    “Robert, you known why I rule? Because dumbass I can take anyone’s ID as my own which I have been doing for over a year now. I can make up multiple socks as needed to distort the comment feed. I want to take PO dot com down. I am pissed off now and all of you will pay

  19. Davy on Mon, 5th Aug 2019 2:01 pm 

    “I’ll vote for unique user/password combinations.
    That’s sufficient to terminate identity theft.
    No moderation required.
    That’s sufficient to rescue this board.”

    I am 100% on board with password user name protection!

  20. Davy on Mon, 5th Aug 2019 2:03 pm 

    JuanP, the board is turning against your mindless destructive game. Move on down the road please and let adults debate vital topics

  21. Robert Inget on Mon, 5th Aug 2019 2:08 pm 

    Back to Topic.
    Today’s stock markets slip is showing.
    Trump’s ‘War on Trade’ backfires.
    IMO there’s a 50%chance of 1/2 point rate cut.

    It’s all about a currency war. The tariff war started it all. IMO we (the US) lose BOTH wars.

    The worst is yet to come. Losing USD dominance to Chinese will be an utter disaster for the US economy.

    Oil trade; With yuan value sinking, China can sell off US T bills down to negative yields. (or below)

    Who will buy Treasures expecting to get .95 cents in ten years on every dollar invested today?

    US debt is nearing 90% of GDP. IOW’s at the point
    Trump may do exactly what he’s done in the past.
    Default or cut 50% off USD valuation.

    Now, you may ask, ‘can he do this without Congress?’
    Yes and no. Yes because up to now the Republican Senate has been afraid to cross this
    financial genius. Events this weekend and today
    may have changed everything.

    Stock markets have lost patience with this crook.

    Public pressure from multi sources will take Trump down. The FBI, New York State, CIA, have enough ‘dirt’ on Trump to force his departure.
    Once Trump gets it, he can’t be reelected, knowing prison awaits in 2021, he will make one of his famous deals and retire peacefully.

  22. Not Davy on Mon, 5th Aug 2019 2:08 pm 

    Davy on Mon, 5th Aug 2019 2:01 pm

    I voted for me as board moderator and nueterer in chief. Seems to be working out just fine for me.

  23. Robert Inget on Mon, 5th Aug 2019 2:25 pm 

    What happens when (not if) Russia’s permafrost melts?
    https://www.insidehook.com/daily_brief/science/what-happens-when-russias-permafrost-thaws

    I’ll add, this goes for Alaska too.

    Vital Arctic pipelines, oil and gas, all fall down and go boom. This will answer the question, once and for all. If no one is around when these pipelines
    collapse, will they make a sound?
    Answer, When pipelines go boom, everyone on Wall Street will hear it

    IMO Siberian PL’s will go first. Alaska will be next.
    It will take several years to build tanker loading
    infrastructure once winter ice melts.

  24. Cloggie on Mon, 5th Aug 2019 2:56 pm 

    El Paso, the real reason:

    https://en.wikipedia.org/wiki/El_Paso,_Texas#Demographics

    Euro’s: 40% –> 12% (1970-2017)

    Part of the coming border Mexico-Amerika could be:

    https://en.wikipedia.org/wiki/Red_River_of_the_South

  25. Davy on Mon, 5th Aug 2019 3:03 pm 

    Oh, BTW, dirty Juan, you need to contribute also. Game trolling a forum for sick personal satisfaction doesn’t cut it either. Get a life fuck nut.

  26. I AM THE MOB on Mon, 5th Aug 2019 3:34 pm 

    Renewable energy push barely dents fossil fuel dependence

    Coal, oil and gas still expected to contribute 85% of primary power supply by 2040

    https://amp-ft-com.cdn.ampproject.org/c/s/amp.ft.com/content/4c77a13a-b50b-11e9-8cb2-799a3a8cf37b?fbclid=IwAR2V6iLxEHXIT7wxpeA_O4yDovXMfOxOkPthVwFq9vN8gmTq_NxLCPgfo40

  27. peakyeast on Mon, 5th Aug 2019 3:35 pm 

    @Robert: “I’m far more concerned today around Trump’s war on ‘The Rule of Law’, democracy, ‘The War on Trade’.”

    Don’t be it is a long time ago USA had a functioning democracy. Today it is more evident than ever before it is an oligarky – and the rule of law is more like the rule of the rich.

  28. Anonymouse on Mon, 5th Aug 2019 3:45 pm 

    Cloggjude you worthless kike, the complete lack of moderation is the only reason you are even here. NO one pays any attention to your endless spam and bullshit, aside from the other lunatic and fraud here, the exceptionaltard. And he is far too busy flooding the comments with under fake ‘JuanP’ and his stupid made-up handles these days to even do that much anymore. I Know you miss the good old days when you and him could argue non-stop over such PO related topics like, ‘Hitler’, and……Hitler. But, sucks when you cant have your jew cake and eat it too, right cloggedrectum?

    So if the quality of comments is your ‘big concern’ (its not btw you worthless lying shit), go register forumside and post there and be done with. It already has all those features and more. No one is stopping you from going to forumside you lying little jude rodent, so what are you afraid of?

  29. Davy on Mon, 5th Aug 2019 4:11 pm 

    Oops, sorry everyone for getting real triggered again and losing my shit.

  30. I AM THE MOB on Mon, 5th Aug 2019 4:33 pm 

    8chan goes dark after hardware provider discontinues service

    https://www.theverge.com/2019/8/5/20754943/8chan-epik-offline-voxility-service-cutoff-hate-speech-ban

  31. Davy on Mon, 5th Aug 2019 5:04 pm 

    “Davy on Mon, 5th Aug 2019 4:11 pm Oops, sorry everyone for getting real triggered again and losing my shit.”

    juanpee, you are such a stupid fuck. Everyone knows that (above) is you when you steal my ID. Are you that low IQ or just lazy??

  32. JuanP on Mon, 5th Aug 2019 5:07 pm 

    Here’s How “Middle Class Joe’s” Election Chances Will Come Crashing Down

    The closer we get to seeing former Vice President Biden potentially cinch the Democratic nomination for president, the more the American public will be informed of the mountain of corruption looming over his lengthy political career. Case in point – an over 7,000 word new Politico deep dive into “middle-class Joe” Biden, as he alone likes to call himself, chronicles the decades-long sordid history of efforts by his family, especially his brother and sons, to “cash in on Joe’s political ties.”

  33. JuanP on Mon, 5th Aug 2019 5:09 pm 

    The Russian Air Force’s Khmeimim (Hmeymim) airbase in the Syrian province of Latakia was reportedly attacked by artillery units deployed by Islamist militants ion August 5th, casing an unknown number of casualties. Hmeymim has served as the centre for the Russian Military’s air campaign in support of the Syrian government, which began in September 2015 and is widely credited with turning the tide of the war against groups such as the Islamic State, Al Qaeda and other jihadist groups. Syrian state media reported that the attack had begun at 15:30 Moscow time, and that both casualties and “significant material damage” had been inflicted.

    Su-24 Strike Fighters at Khmeimim Airbase
    Su-24 Strike Fighters at Khmeimim Airbase

    This was hardly the first time the Russian airbase had been targeted, with drone ‘swarm’ attacks by jihadist groups on several occasions being repelled by air defence units – earning the Pantsir-S1 systems deployed a reputation as formidable drone killers. Artillery, however, appears to be the most effective means of targeting the airbase even if its range is more restricted. Unlike done attacks it is extremely difficult to intercept and cannot be jammed, and if deployed from fast mobile systems it can strike with little warning. A strike using mobile artillery in the first week of January 2018 reportedly damaged several Sukhoi air superiority and strike fighters and an Antonov An-72 transport and killed two Russian servicemen. Russia has deployed a number of its most capable combat jets to the Syrian theatre, including the Su-34 strike fighters and Su-35 air superiority fighters among others. Four combat capable prototypes of the Su-57 air superiority fighter were also reportedly deployed to the base in February 2018 for combat tests, reportedly participating in combat operations against jihadist forces using standoff munitions. The new attack on the Russian airbase has come as hostilities escalate in Idlib province, currently the world’s largest Al Qaeda stronghold, which a Syrian led coalition has moved to recapture. The assault has relied heavily on support from Russian airstrikes, and if successful is expected to bring the eight year conflict to a final resolution as jihadist forces lose their final major stronghold.

  34. More Davy ID Theft on Mon, 5th Aug 2019 5:19 pm 

    JuanP on Mon, 5th Aug 2019 5:07 pm

    JuanP on Mon, 5th Aug 2019 5:09 pm

  35. makati1 on Mon, 5th Aug 2019 6:28 pm 

    US propaganda aside, the US has not “won” a war since…??? Certainly none in the 20th and now not even close in the 21st. Never will. It is a dying empire and country. All we can do is watch its demise. Pass the popcorn.

  36. Duncan Idaho on Mon, 5th Aug 2019 6:53 pm 

    Greenland Ice Sheet Beats All-Time 1-Day Melt Record
    (More ice melted from the ice sheet on 1 August 2019 than any other day on record.)
    Natures way of telling you–

    https://eos.org/articles/greenland-ice-sheet-beats-all-time-1-day-melt-record

  37. JuanP on Mon, 5th Aug 2019 7:06 pm 

    For The First Time In 25 Years, US Treasury Just Designated China A Currency Manipulator

    Following the plunge in the yuan overnight, The U.S. Treasury Department on Monday designated China as currency manipulator, a historic move that no White House had exercised since the Clinton administration.

    “Secretary Mnuchin, under the auspices of President Trump, has today determined that China is a Currency Manipulator,” the Treasury Department said in a release.

    “As a result of this determination, Secretary Mnuchin will engage with the International Monetary Fund to eliminate the unfair competitive advantage created by China’s latest actions.” ”

    “This pattern of actions is also a violation of China’s G20 commitments to refrain from competitive devaluation.”

    Washington hasn’t labeled a major trade partner a currency manipulator since 1994.

    The Yuan tumbled further on the headline…

    USDJPY is also diving as are US equity futures (Dow futures are down 350 from their close, down 500 from the cash close)…

  38. JuanP on Mon, 5th Aug 2019 7:10 pm 

    Kyle Bass Warns Yuan Could Sink Another 40% If PBOC Pulls Support
    Too bad Kyle Bass closed his yuan short earlier this year. If he had held that position, he would have made a killing on Monday, when the Chinese currency broke below 7 to the dollar and continued to tumble as the currency war between the world’s two largest economies officially began. Though Bass insists that the HKD, against which he has taken a large position betting that its more than 30-year-old peg against the dollar will soon break, won’t be far behind the yuan now that Beijing has seemingly stopped supporting the formerly tightly controlled yuan, the hedge fund manager, who still probably profited off his short positions against the currencies of several regional rivals, appeared on CNBC’s “the Closing Bell’ Monday afternoon to talk China. Inviting Bass to speak made sense: He’s established himself as one of the most prominent China bears in the West, even joining with Steve Bannon to warn investors and ordinary people of the dangers of China’s constant manipulation of the US. And during Friday’s interview, which came as US stocks locked in their worst daily performance of the year, Bass explained how the yuan could sink another 30% or 40% if Beijing completely abandons supporting it. As Bass explained, President Trump’s claim that Beijing manipulates its currency is accurate. “What’s happening in China is they have to have dollars to sell to buy their own currency to hold it up. If they were to ever free float their currency, I think it would drop 30% or 40%,” Bass told CNBC’s “Closing Bell.” “And the reason is they claim to be 15% of global GDP in dollar terms, but less than 1% of global transactions settled in their own currency,” Bass added. “And so, they prop their currency up…everyone calling them a currency manipulator – they are trying to hold this whole thing together.” For the first time since 2008, the exchange rate for China’s onshore yuan sunk below 7 to the dollar on Monday. Pressure on the yuan started last week after President Trump said he would slap tariffs on another ~$300 billion of Chinese imports. It accelerated on Monday when Beijing announced that it would cancel agricultural purchases promised as part of the latest trade war detente. Bass has warned American corporations not to pressure the Trump Administration to strike a deal with China. He added that Beijing has a history of never living up to its promises re: trade since joining the WTO since 2001. “Every deal that the Chinese have signed up with us since their inception into the WTO since 2001, China never lives up to their promises,” he said on July 25. “At some point in time, one of our administrative officials is going to hold their feet to the fire and this is kind of a battle of cultures because the Communist Party doesn’t want to submit themselves to anything measurable or enforceable.” “If the Chinese run out of dollars, they need dollars to buy everything that they import…” Bass said. He then referenced South Korea back in the 90s during the runup to the Asian currency crisis: South Korea infamously kept USD on its balance sheet after loaning them out to their banks, making their pile of dollar FX reserves an illusion. Something similar is happening now with China, Bass said.

  39. Mich on Mon, 5th Aug 2019 7:10 pm 

    How about a link for those articles JuanP?

  40. makati1 on Mon, 5th Aug 2019 7:13 pm 

    Mich, I suggest that the word salad “by JuanP” is really delusional Davy’s bullshit. I do not think JuanP does cut and paste word salads.

  41. More low IQ Davy ID Theft on Mon, 5th Aug 2019 8:23 pm 

    JuanP on Mon, 5th Aug 2019 7:06 pm

    JuanP on Mon, 5th Aug 2019 7:10 pm

    Mich on Mon, 5th Aug 2019 7:10 pm

  42. Davy on Mon, 5th Aug 2019 8:41 pm 

    Oops, sorry y’all. I forgot the links again. Does anybody else get the feeling I could be mentally retarded?

    https://www.zerohedge.com/news/2019-08-05/first-time-25-years-us-treasury-just-designated-china-currency-manipulator

    https://www.zerohedge.com/news/2019-08-05/kyle-bass-warns-yuan-could-sink-another-40-if-pboc-pulls-support

  43. Cloggie on Mon, 5th Aug 2019 9:10 pm 

    “US propaganda aside, the US has not “won” a war since…??? Certainly none in the 20th and now not even close in the 21st. Never will. It is a dying empire and country. All we can do is watch its demise. Pass the popcorn.”

    In 1916, the US army was still an extension of British interests, but from 1933, the UK was an extension of US interests and crucial in helping bringing the US empire about, all by US intent:

    https://documents1940.wordpress.com/2017/09/25/chamberlain-and-the-forrestal-diaries/

    …and the US could start its “American Century”:

    https://documents1940.wordpress.com/2017/09/25/time-life-the-american-century/

    The 20th century was a smashing success for the empire, certainly when it also won the Cold War in 1989-1991, simply by “sitting out the USSR”.

    And although there was a serious attempt to kickstart a “Program for a New American Centrum” on 11-09-2001, by telecrashing planes in high-rise buildings, that exercise didn’t work out too well and now the US finds itself in the potentially catastrophic situation of having to pretend towards its own population that it can MAGA, where it can’t deliver the goods.

    America is making too many enemies: China, Russia, Muslims minus KSA and even “ally” Europe is testing the waters of USE, in order to sneak out of the empire, it was involuntarily ramned into in 1945. Only Britain can be relied upon, but only for 52%. And then there is US whitey who is getting ever less happy with the social designs their oligarch owners have in store for them.

    “B-b-but we thought this was a white country!”

    “No it is not, you racist!” says uncle George Soros, “America is how we want to see the rest of the too, race-mixed and no borders, oh and in our godly pockets”.

    Unfortunate for uncle George and his tribe, or “world plague” as they were known to Henry Ford and the 1933-1945 Germans, they are running out of Anglo water carriers to get the job done. So sad.

    #Timber!

  44. boney joe on Mon, 5th Aug 2019 9:30 pm 

    Mak,

    You should know that “Mich” is one of DavyTurd’s well known sock puppets.

    DavyTurd also enjoys routinely engaging in ID Theft as with my name.

    The pathetic wench thinks he’s being clever-LOL.

  45. makati1 on Mon, 5th Aug 2019 10:00 pm 

    boney, I guess that is part of his insanity. I don’t try to follow who is the real … and who is Davy. Not worth the effort.

  46. Boney Joe on Mon, 5th Aug 2019 11:01 pm 

    It’s not hard to figure out Mak.

    Pro US Zionist Empire = Davy
    Anti US Zionist Empire = Everybody else

  47. makati1 on Mon, 5th Aug 2019 11:17 pm 

    Again, not worth the effort. Too much identity theft. I rarely ready any comments, especially long ones. The comment author is too lazy/stupid to put it in his/her own words.

  48. Boney Joe on Mon, 5th Aug 2019 11:20 pm 

    One more dead give away Mak.

    Widdle Davy loses his shit, a lot. He takes this lame unmoderated forum way too seriously. Angry widdle Davy needs to get a life, far away from the goats. They aren’t helping him at all with his widdle mentally retarded challenges.

  49. Davy on Mon, 5th Aug 2019 11:41 pm 

    I hate this dumbass lame unmoderated forum. That’s why I don’t comment here at all anymore. I’m so concentrated on my blog it’s crazy. Just like me.

  50. Cloggie on Tue, 6th Aug 2019 12:32 am 

    Thank God:

    Von der Leyen rows back on ‘United States of Europe’

    https://www.politico.eu/article/ursula-von-der-leyen-rows-back-on-united-states-of-europe/

    A lighter, more right-wing, decentralized Europe in the mold of De Gaulle/Putin’s “Europe of the Fatherlands” Confederation is the more likely solution for the near future.

    Very important is that von der Leyen understands the signs of the time and “extends an olive branch to (“populist”) Eastern and Central European countries”, important conservative countries to provide an identitarian counter-weight to the suicidal, globalist secular-protestant humanistic loons in NW-Europe.

Leave a Reply

Your email address will not be published. Required fields are marked *