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Western media and the war on truth in Ukraine – Al Jazeera English

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2 years ago

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Who is winning the war in Ukraine depends on who is doing the talking.

Predictably, Russia says that it is winning as planned, while the United States says Ukraine is pulling a surprise win, thanks to its steadfast resistance and Western support.

On the face of it, authoritarian Russia cannot be trusted with the facts, let alone the truth about the war, while the liberal West inspires greater credibility as it allows for a free and independent inquiry. But in reality, as Chinese military strategist Sun Tzu said, “all warfare is based on deception”. Neither side could or should be trusted to reduce the fog of war, because both are fully engaged in psychological warfare, which is key to winning the overall war in Ukraine.

In fact, both sides are propagating their own selective facts and myths, while censoring counterclaims, as each needs to maintain an appearance of progress in order to justify big sacrifices in blood or treasure. And both sides need to up the ante in order to harden public resolve behind their goals, which thus far have excluded any serious effort towards a diplomatic solution.

Russia hopes to degrade the morale of the Ukrainian resistance and deflate European support for a war that cannot be won, while the US wants to shore up Ukrainian and European enthusiasm for a winnable war, even if privately, US officials doubt Ukraine could recover all its occupied territories.

While the Russian media has little or no choice but to parrot the official line, Western media has a choice but chooses to trust NATO and Pentagon briefs and reports, regardless of their intentions. Take for example the declaration of an anonymous (why anonymous?) senior Pentagon official that: “Russia has committed nearly 85 percent of its military to the war in Ukraine” and “has removed military coverage from other areas on their border and around the world”; Russia “still has not figured out how to use combined arms effectively”; Russia is “taking hundreds of casualties a day”. Among Russia’s military fatalities have been “thousands” of lieutenants and captains, “hundreds” of colonels, and “many” generals.

Now I have no clue if any of this or other such claims are true, and nor I suspect do the officials propagating it or the journalists spreading it. But it is out there, shaping the opinions of the public, the elites and the experts, most of who believe Ukraine is able to pull off some sort of an upset if not an outright victory against its largely more powerful neighbour. But the Western and especially Anglo-American media seems to suffer from short, or should I say selective memory when it takes the official line at face value, as if the official deception during yesterday’s wars in Afghanistan, Iraq or Vietnam, has no bearing on covering today’s war in Ukraine.

In 2019, the Washington Post newspaper revealed that senior US officials failed to tell the truth about the war in Afghanistan throughout the 18-year campaign, making rosy pronouncements they knew to be false and hiding unmistakable evidence the war had become unwinnable. In other words, they lied. But media outlets, think-tanks and influential pundits continued to rely on these “officials”; even after it was revealed that they have also lied about another war – the Iraq war, which was also fought on false pretence and fabricated evidence.

Official deception was even worse during the Cold War. For example, the “Pentagon Papers” published about half a century ago revealed that the US government was guilty of an enormous cover-up regarding the terrible losses in the Vietnam war, which led to some 55,000 American and more than a million Vietnamese deaths. Any expectation that US media and the public’s trust in the government’s take on wars was “forever diminished”, turned out to be premature, as official lies about the “dirty wars” in Asia and Central America continued to be widely reported as facts.

Even today, as US Special Operation Command covertly deploys special forces across Africa to fight “shadow wars”, it blatantly preaches “free and transparent press”. One does not know whether to laugh or cry.

So it is no surprise that governments, whether autocracies or democracies, lie about wars for tactical or strategic reasons. In fact, there is a fancy name for it – stratagem, which means to deliberately send untrue signals to unsettle the enemy while reassuring one’s own side.

What is shocking is how the “free press” in the “free world”, which to its credit has helped reveal much of the official deception in the past as in the “Pentagon Papers” and the “Afghan Papers”, is adamant about echoing and amplifying the official line as if it were complicit in the war.

Watching journalists and pundits in respected American and British journals exhaust the synonyms of fascist, evil and dangerous to describe Russia’s Putin, with little or no attempt at balance or objectivity, one is inclined to believe that Western media has largely been enlisted in NATO’s crusade against Putin’s Russia until victory. But what does “victory” entail here: liberating all of Ukraine? Or weakening Russia to the extent it no longer threatens other European countries?

The difference cannot be overstated, because NATO’s ultimate objective is to defeat Russia and deter China from following in its footsteps, regardless of the price for Ukraine. That is why both sides seem adamant to continue the fight regardless of the cost. Russia hopes time will force a weakened Ukraine and a wobbly Europe to blink first and eventually back down. And the US is keen on Ukrainians fighting on regardless of whether a “victory” is achievable, as long as the war exhausts the Russian military and weakens its economy. It is betting that Putin’s Russia will crack in Ukraine just as the Soviet Union imploded after a decade-long war against the US-supported armed uprising in Afghanistan. But then again, Ukraine is no Afghanistan; not in any relevant way, and Russia does not view it as a disposable geopolitical asset.

So even if Ukraine has in fact managed a surprise upset against the invading Russian forces and forced Moscow into an unexpected war of attrition, it remains far from certain that it could maintain its counter-offensive for another six months, let alone another six years.

The ongoing battle for Kherson may provide a clearer signal about where things are heading. But as long as Western military support remains robust but defensive in nature so as not to risk a nuclear confrontation with Russia, expect the destructive war of attrition to continue in the medium run, or reach a tense stalemate at best, not any form of a decisive victory for either side.

Did someone say diplomacy…?!

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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3 weeks ago

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August 23, 2024

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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3 weeks ago

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August 23, 2024

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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August 20, 2024

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Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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