Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Thanksgiving Amid the Terror Threats

Politics / Religion Dec 01, 2015 - 07:59 AM GMT

By: John_Mauldin

Politics

“Nobody in Europe will be abandoned. Nobody in Europe will be excluded. Europe only succeeds if we work together.”
– Angela Merkel, December 15, 2010

“Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. Believe me, it will be enough.”
– Mario Draghi, July 25, 2012

“We have to safeguard the spirit behind Schengen,” Mr Juncker told the European Parliament on Wednesday. “Yes, the Schengen system is partly comatose. But . . . a single currency does not exist if Schengen fails. It is one of the pillars of the construction of Europe.”
London Telegraph, November 25, 2015


We all have great cause for gratitude this Thanksgiving weekend, whether or not you celebrated that holiday in your home country. In the last month we have seen how violence can touch people far from the battlefields. If your only connection to the recent terrorist events came through watching the news, count yourself lucky. Others can only wish they had such distance.

Many have made comparisons with 9/11 these past two weeks. History never repeats itself quite so neatly, of course, but I too sense that we are poised at an inflection point. Significant events at different places around the globe seem to be converging. I suppose we will look back someday and be able to see clearly the connections among them. For now, we can only try to understand.

I think the entire situation in the Middle East, the refugee crisis, and the present state of the European Union have to be placed in a greater context if we are to understand what the confluence of these vastly different sociopolitical rivers will mean for the future of our economy and investments. I think we are coming to a period of time when geopolitical concerns, always on my radar, are going to require more attention. This has been apparent to me for some time, and I’ve been working to position Mauldin Economics to help you stay abreast of global developments. We will be making what I think you will find to be immensely helpful announcements in the immediate future.

But for today, in this week’s letter, I’m going to let other people do most of the talking. I gave you my own thoughts on the Paris attacks and Europe’s future last week in “The Economic Impact of Evil.” Today I’ll share some of the most interesting post-Paris analysis that has crossed my path over the last two weeks.

Please note that I don’t necessarily agree with everything you’ll read in these articles. I share them with you because I found them thought-provoking. I send these sorts of things to my Over My Shoulder subscribers routinely. If you do subscribe to OMS, look for the full text of some of the non-public items next week. For everyone else, I’ve included links to publicly available items where possible.

One bit of advice: don’t hurry through these commentaries. Try to go through them slowly and thoughtfully. This is a good time to suspend your presuppositions and consider new possibilities.

We’re going to start with a little bit of history from Charles Gave, who recalls being born and growing up in Aleppo, Syria, as the son of a French officer, giving us some context for today’s crisis. Note that he wrote this for a French paper in September, and it was only recently translated into English.

Lament for a Vanished Middle East

By Charles Gave

It is desperately saddening to see the terrified population of the Middle East fleeing for refuge towards a Europe that has utterly forgotten what the region looked like just a few decades ago. Yet nobody can hope to understand the disaster that is unfolding if he knows nothing of the events that shaped the modern Middle East.

Through an accident of family history, I was born in the Syrian city of Aleppo 72 years ago, my father having been one of the few French army officers stationed in Syria at the time – 12 out of 500 – to have sided with the Free French forces of Charles de Gaulle, rather than with the Vichy regime of Philippe Pétain.

How can I possibly describe the Syria of my birth? It was a marvel of diversity, a true kaleidoscope of races and religions. All the great empires of the past – from the Mesopotamians to the Ottomans – had passed through, and all had left their traces. Clustered around the citadel of Aleppo, the oldest continuously inhabited city in the world, one found the Armenian quarter, next to the Jewish district, itself next to the Greek settlement. All were surrounded by Muslim areas, variously inhabited by Druze, Kurds, Alawites, Sunni, and Shia. And for the most part all these various peoples lived peaceably together, doing business with each other in good faith. Education was provided by the religious orders. Boys attended schools run by the Jesuits, and the girls were taught by Christian nuns – regardless of denomination.

Before the Conquest

Really “Most of the Christian sects had lived in the region since long before the Moslem conquest, and felt a perfect moral right to live in what was, after all, their home. In the Iraqi capital Baghdad, for example, half the 18th century population was Christian. The Assyrians of Northern Iraq claimed to have been converted to Christianity in the 1st century by Saint Thomas. In the mid-20th century they were a strong community – a true nation. Today there are almost none left. The survivors are in Sweden. In Egypt, the minority Copts, descendants of the original Egyptian population, held important positions in trade, the universities and in politics, with more than a few appointed ministers.

Throughout the region, the Jews were absolutely essential to society and commerce. Of course, Jews had lived in Iraq since the time of Nebuchadnezzar II. But they had also made up much of the population of Alexandria in Egypt ever since it was founded by Alexander the Great – it was in Alexandria that the Old Testament was first translated from Hebrew to Greek. Elsewhere, in all the great historic cities of the region – Cairo, Istanbul, Damascus, Aleppo – Jewish communities made up the network through which different peoples traded with each other.

Each community was an intrinsic part of the social system, and the result was a diverse and resilient society. Of course, once in a while there were problems, such as the Damascus pogroms at the end of the 19th century. But the authorities had little patience with trouble-makers, and quickly restored order.

Today, however, for the first time in history, there are no longer any Jews on the southern shores of the Mediterranean and, outside Israel, few in the Levant. Christians of all denominations have either disappeared, or are under severe pressure, with the Egyptian Copts facing daily attacks. The old social order has broken down completely. The question is: Why?

Family History

 To answer, it will be necessary to highlight two historical missteps that have been slowly destroying the Middle East since at least the middle of the 20th century. The first concerns my family history. My grandfather, Ernest Schoeffler, was governor of the predominately Alawite province of Latakia during the French mandate. The Alawites, who are concentrated in north western Syria, are an offshoot of the Shia branch of Islam. Today, they control the political power in Syria, or whatever is left of it.

Conscious of the extreme diversity of the local population, my grandfather promised the Alawites that when the mandate ended they would have their own independent, or at least autonomous, state. Indeed, he lobbied hard in Paris for each Middle Eastern population to have its own “state” as far as possible. He envisaged a Kurdish state, a Christian state centered on Beirut, a Jewish state around Jerusalem, a Druze state, an Armenian state and so on. The idea was that none of these mini-states would be powerful enough to dominate the others. And if there was trouble, the regional policemen – France, Britain, or even Turkey – would step in to re-establish order.

However, in 1936, the leftist Front Populaire was elected in France. My grandfather was summoned to Paris by the Minister of the Colonies, who informed him that thenceforth French policy would be to create a “Greater Syria”. And of course this Greater Syria would be a secular state, because the French left had one overriding obsession: to destroy religion. In response, my grandfather did something few people do today: he stuck to his principles and resigned.

Disastrous Policy

The French government proceeded with its plan to create a unitary state in Syria, with centralized institutions for the army, police, civil administration, justice, education, and health. The consequences of this policy were all too foreseeable. The main goal of each and every different community became to seize control of the apparatus of the state in order to protect its own community. In Syria, by far the largest community, at 60% of the population, was Sunni. To prevent the Sunnis, with their strength of numbers, establishing total dominance over the country, the Alawites, with the tacit approval of the other minority groups, established their own control over the state, which they have ruled ever since.

I have no doubt at all that the refugees fleeing Syria today are minorities terrified that the Alawites will lose power, which up until the Russian intervention looked highly likely. They know full well that if the Alawites were to fall, the Sunni reprisals would fall on all Syria’s minority communities, not just on the Alawites.

The fundamental historical error here was the attempt by the French and the British to create centralized states in the Middle East, states which both the Quai d’Orsay and the Foreign Office believed would, with a little diplomatic maneuvering, do their bidding. This was a total break with the Ottoman tradition. The Turks generally took a hands-off approach to running their empire, intervening only when someone did something especially silly. When that happened, the Janissaries were quickly sent in, and the old order promptly restored. By imposing centralized structures on communities with little in common, the European powers ensured that every local lunatic would attempt to take control of these structures and use them to impose their vision on the other minorities, all too often through “ethnic purification”. It was a recipe for chaos and civil war if ever there was one.

A Wahhabi Project

This brings me to the second historical misstep. For most of their history the Sunnis of Syria and Egypt were peaceful, tolerant people, who lived in tribal groups under the authority of elders who did a reasonable job of maintaining order. This tradition crumbled in no time in the face of the pan-Arab socialism propounded by Egypt’s President Gamal Abdel Nasser and Syria’s Baath Party. As a result, the Sunnis were easy prey for the puritan Wahhabism exported by Saudi Arabia in reaction to the rise of pan–Arab Socialism. Wahhabism is by far the most retrograde of all the different sects of Islam. When Ibn Saud created Saudi Arabia by federating the tribes of the Nejd and Hijaz, he did so with help of the Wahhabi clergy. Now, for the last 50 years, money has flowed in a torrent from Saudi Arabia to the rest of the Middle East, Africa, South East Asia, and Europe to build Wahhabi mosques: “schools” where the only things taught – and only to boys – are the Koran and religious extremism.

The goal of this project is to “purify” the Middle East, returning the region, and eventually the rest of the world, to an “original” form of Islam unpolluted by non-Wahhabi religion, or indeed by any influences from the last 1,400 years. Isis is nothing but a Wahhabi project.

Extraordinarily, this project has enjoyed the unstinting support of French diplomacy under the guidance of Jacques Chirac, Nicolas Sarkozy, and now François Hollande. I cannot imagine that this support for the most regressive of Sunni religious movements is due to the fact that close to 10% of the French electorate is Sunni, and that 90% of those vote for the left. That may explain French policy under Hollande, but it cannot account for the policy stance under Sarkozy and Chirac. There can only be two explanations: sheer stupidity, or that French presidents, both of the right and left, have been “captured” by France’s arms exporters.

At the end of this little historical survey – very much influenced by the family history of the writer – the reader must ask what can be done to stop the rot. The answer is simple. First, the West must clearly identify the enemy, which is not the Muslim religion, but the Wahhabi sect. And it must immediately break off all relationships with the states, such as Saudi Arabia and Qatar, which are exporting this virulent form of extremism.

That means closing western embassies in those countries and expelling their citizens from ours. Of course we will have to stop accepting donations from these countries to finance our electoral campaigns, which require ever-increasing amounts of money to win votes for candidates of ever-decreasing legitimacy. That would be very bad news for our media industry, so it may never happen. And needless to say, we must also stop selling these countries warplanes, helicopters, missiles, radars, tanks and other weaponry. That might be sad for our defense industries, but one does not prosper by selling weapons to one’s enemies. As Lenin said: “The Capitalists will sell us the rope with which we will hang them”. Plus ça change…

The Cumberland View: Barriers Rising

My friend David Kotok of Cumberland Advisors wrote three excellent articles in the last two weeks. I suggest you read them in order: Paris (11/16), Paris 2 (11/19) and Paris 3 & Thanksgiving (11/22). Here is a short section from Paris 3.

To continue reading this article from Thoughts from the Frontline – a free weekly publication by John Mauldin, renowned financial expert, best-selling author, and Chairman of Mauldin Economics – please click here.

Important Disclosures

The article Thoughts from the Frontline: Thanksgiving amid the Threats was originally published at mauldineconomics.com.
John Mauldin Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in