by James Rickards at Daily Reckoning
In yesterday’s issue, I addressed the biggest and most complex topic on the geopolitical landscape today — China.
But today I’m discussing what is by far the most alarming topic on the geopolitical landscape today. That’s the war in Ukraine and the dangers of escalation.
I’ve written extensively 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.
Reality Check
First off, the Ukrainian 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. On the other hand, reports of 100,000 Russian dead are almost certainly wild exaggerations put out by Ukraine. The BBC attempted to verify these numbers and could only find about 20,000 confirmed Russian dead based on extensive searches on funeral notices, public records, etc.