James Rickards: “Biden administration has turned the war in Ukraine into an existential crisis for the U.S. and NATO”

“The Biden administration has essentially turned the war in Ukraine into an existential crisis for the U.S. and NATO, when it never should have been. Ukraine has never been a vital U.S. interest. But the war is existential for Russia, and won’t give up,” writes James G. Rickards, the editor of Strategic Intelligence, once an advisor on capital markets to the U.S. intelligence community, and at the Office of the Secretary of Defense in the Pentagon. He continues:

Is the U.S. just going to throw up its hands and concede Russian victory? NATO may actually disintegrate in the face of such spectacular failure. Maybe a desperate Biden orders troops into western Ukraine as a buffer against a complete Russian takeover of the country. You can imagine what could go wrong.

That situation may quickly devolve into a direct war between the U.S. and Russia rather than the proxy war that it is now. The American people and investors in particular are not prepared for any of this. They should be. It’s becoming increasingly likely.

He writes about ‘two facets of the war in Ukraine that you don’t hear from legacy media in the United States or U.K.’

The first is that Russia is actually winning the war. U.S. outlets such as The New York Times (a channel for the State Department) and The Washington Post (a channel for the CIA) report endlessly about how Russian plans have failed, about how incompetent they are about how ‘the Armed Forces of Ukraine (AFU) have pushed back Russians in the Donbass, and how NATO weapons such as U.S. Abrams tanks, U.K. Challenger tanks and German Leopard tanks will turn the tide against Russia soon.’

This is all nonsense. None of it is true.

First off, the Ukrainian (AFU) advances that took place in late summer were against lightly defended positions that the Russians quickly conceded to conserve forces. The Russians were willing to give up the land so that they wouldn’t lose valuable men and materiel.

The Russians withdrew to more defensible positions and have been badly mauling Ukrainian attacking forces ever since. Ukraine has wasted incredibly large amounts of men and equipment in these futile and ill-advised attacks.

In all, credible reports indicate that AFU casualties are nearing 500,000 and are increasing at an unsustainable rate.

What about the tanks NATO is supposedly sending? Well, the tanks have not been delivered yet and most won’t be for months or longer. Our own M1 Abrams tanks might not even arrive for a year or more.

We actually have to custom build these tanks so that they don’t have the special armor and other advanced systems that our own M1s have. The Pentagon doesn’t want them falling into Russian hands if they’re destroyed or captured. Besides, we’re only sending 31 tanks anyway.

When the NATO tanks do arrive, they’ll likely quickly be destroyed by Russian artillery, anti-tank weapons and precision missiles. They’re good tanks, but far from invincible. For decades, the Russians have been developing powerful weapons specifically designed to destroy these NATO tank models. The Russians aren’t particularly worried about them.

Aside from that, tanks rely on effective air cover for protection, which Ukraine lacks. They’ll be sitting ducks on the battlefield. It doesn’t really make sense to send tanks to Ukraine unless you send combat aircraft to give them cover.

Meanwhile, Russian forces have nearly encircled the city of Bakhmut, which is a major transportation and logistics hub, with several key roads and rail lines passing through it. It’ll probably fall to the Russians within weeks.

Losing Bakhmut will be a major blow to Ukraine, despite claims in the western media that it really isn’t very important. Ukraine’s entire 800-mile defensive line would probably begin to crumble, and they don’t have heavily fortified positions to fall back on. Ukrainian troops are exhausted and running out of supplies as it is.

On top of that, it appears likely that Russia is preparing a devastating offensive with massive amounts of men, tanks, armored personnel carriers, artillery, helicopters, drones and fixed-wing aircraft.

This Russian army is not the same army that invaded Ukraine a year ago. It’s much better trained, led and equipped. It’s learned from the mistakes it made during its initial invasion last February.

The second facet of this war not reported in the media, or at least downplayed, is the growing risk of nuclear war. This risk increases with every escalatory step by both sides. The U.S. is the leader in reckless escalation by supplying long-range artillery, Patriot anti-missile batteries, intelligence, surveillance, and now the tanks. Russia responds at each step.

There’s a number of steps before the two sides arrive at the nuclear level, but neither shows a willingness to step back.

By the way, Russia has every legal right to attack those NATO countries supplying arms to Ukraine. By supplying arms to a party to the conflict, they’ve given up their neutrality and have become, in effect, combatants.

Russia hasn’t done this because it doesn’t want to bring NATO directly into the fight. But legally, it can.

The U.S. won’t end the weapons deliveries because Joe Biden is afraid of losing face and his closest advisors such as Victoria Nuland have an irrational hatred for Russia and are total warmongers.

Now, we can add a new danger, resulting from desperation.

This is the fact that the U.S. itself may be the biggest loser in the war, stresses James Rickards.

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