Tag Archives: INSTEX

Why World War III Will Be America’s Fault | Avoiding the British Empire 8

My book, and today’s video aren’t just intended as “blame America First” whining. They are intended as the basis for a new, saner approach to US foreign policy. One of the central problems in Washington, DC for the past 30 years is that we haven’t had a goal. We’ve had a ton of resources, a ton of professionals geared towards the outside world, and no clear sense of what to do with them since the end of the Cold War. Instead all these people have pursued a variety of conflicting goals. Some of them have been noble, some have been horrible, but in combination they have produced an effect that is disorganized in the most self-interested and chaotic way. With this series I hope to suggest a better way.

The mission of US foreign policy should be to stave off war for as long as possible. We should use our extraordinary power and reach to try to make the world a less dangerous place for everyone. This would do the world a great service, but it would also serve the United States in the best possible way. As I’ve also emphasized, it’s the United States that has the most power to lose from a new world war. So we should stop seeking it out in the deserts of the Middle East and in the waters of the South China Sea. We should stop sending the instruments of death to every country in the world we can, in ever accelerating amounts. If we stopped doing these things, I think we’d find that there is still plenty for Washington, DC to do. Even beyond the much larger problems that the United States has made, the world has many fault lines that could benefit from our diplomatic attention. Imagine a world with DC think tanks that were focused on solving Nagorno-Karabakh, or opening the border between Morocco and Algeria, rather than fomenting wars? It may all sound a bit pie in the sky, but once you’ve absorbed the arguments of today’s video, how could you want to do anything else?

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Video Transcript after the jump…

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Trump Is the OPEC President | Venezuela 3 | Libya 3 | Iran Sanctions 3

Some videos come pretty easy, and today’s video is one of them. I really like it when new ways of looking at stuff pop into my head. The more I think about it though, there are other aspects to this I should have included. The shift in the oil market here is pretty extraordinary. It’s actually the birth of a sort of “Super OPEC”. It’s also an OPEC that’s a lot more dangerous for its members. With a US president in charge, especially a US president listening to Texas oilmen, military operations become a potent tool of market making.

The world, and the US, used to have a minimal investment in the stability of petro-states. In the long term, these places should be happier without US supported perma-leaders, but the short term looks increasingly grim. As oil demand peaks, the ballooning US petroleum industry will need to be protected. The US can do this by knocking off competitors one by one. This could be an underappreciated aspect of Libya’s permanent oil crisis since 2011. Petro-states on each side of the conflict have no incentive to get their proxies on the same page and producing more. Venezuela is being knocked out. So is Iran. Destabilizing Iraq would be very easy. Saudi Arabia is super shaky. A broader war in the Middle East would be horrible, but it would be pretty great for the new head of OPEC… The US president.

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Video Transcript after the jump…

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The EU Declares Independence | Instex | Iran Sanctions 2

Today’s video sort of unintentionally ended up being the second video in a series dealing with the ramifications of Donald Trump’s destruction of the Iran Nuclear Deal last year. The more I think about it, the better an “Iran Sanctions” series sounds. It’s interesting how much that one terrible decision will end up driving world politics for the next couple years, if not the next couple decades. Almost every day we see things happening that can in part be traced back to it, including Germany’s reluctance to act against Huawei the way the US wants, reported today.

Today’s video focuses on INSTEX, the new European exchange that is the first stab at building a post-dollar trading and banking system. It may seem like a boring topic, but if you understand it, whole volumes of current and future geopolitical maneuvering will be revealed to you. Today’s video does what very few do, and attempts to describe the history of the secondary sanctions imposed by the US in an engaging way. Supposedly journalism is a first draft of history. I’m kind of excited by the fact that nobody else is attempting that draft this way. I could be wrong, but I’m guessing that a history focusing through the lens of the Iran Sanctions will provide a clearer picture of the 2020s than anything else.

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Video Transcript after the jump…

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