#Syria ‘s Assad did roll out the red carpet for #Iran ‘s president
Assad wanted to dismiss any notion that his rapprochement with the Arab world would come at the expense of Tehran
But why is this alliance so enduring & why does Assad cling to it at seemingly high costs?
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2-When you pick allies, you want them to be there when you absolutely need them and for them to demand little in return
This is precisely what Tehran is to Damascus
A consistent & dependable ally who needs you just as much as you need them
Ditch them for who? And what?
3-Assad loves to keep all his options open. Never be hostage to one single party
His nirvana ?
Be friends with Tehran, Moscow, Riyadh, Abu Dhabi, Doha, Ankara and even Washington
But he knows he can’t
So he has to pick his most trusted & enduring ones
You guessed who
4-Yes, being friends with Washington, Paris or Riyadh is better for your economy than if you picked Tehran
But who do you trust more with your your life?
Who will not stab you in the back?
Who will be there when you need them without asking you to engage in democracy first?
Has Assad gone so deep with #Tehran that he can’t even go to the bathroom without checking with them first ?
Or
Has Assad gone so deep with #Moscow that he can’t even go to the bathroom without checking with them first ?
Both versions keep getting repeated as consensus
Truth is Tehran needs Assad as much if not by more, than he needs them
There is only way to Hizbollah & that is not through Gabon
Assad is super important to Iran and that he needs to be a slave to them is untrue
They both can and will rely on each as they have for decades
But if throwing #Iran under the bus and joining the other camp is better for #Syria ‘s economy and the standards of living of its people, why not do that ?
Why not take the plunge and go to a more uncertain future?
Why not think about others and not just you?
Because ….
That #Syria is not a beacon of democracy and that Assad ain’t no George Washington is absolutely true
I don’t recall Assad or anyone around him claiming otherwise
Truth is that Assad practices governing through absolute power with hardly any constitutional limitations
Assad’s rule through absolute power is unlikely to ever change
So what do you do about it?
Monumental efforts to topple him were tried
He survived because most underestimated his will to survive at all costs, including barrel bombing his way out of it & more
This is a message to Tehran, Riyadh , Abu Dhabi, Tel Aviv & Washington that I am not hurting enough to make any changes to my multi-triangulation policy
If you want to bring me into the fold, great
But am not weak or poor or on my knees
Yes, the country is weak and is on its knees. Sanctions are doing their job and impoverishing the populace
But is this going to culminate in Assad losing power?
No
The sanctions are just to make people feel good they are doing something to hurt Assad
If anything, the sanctions have made regime operatives wealthier not poorer
The fourth division is not hurting
Assad and his kids don’t look like they are starving
The ever poorer populace are not about to hold a board meeting and fire Assad
The only people who are pro sanctions are groups like the Washington-based opposition
The only thing they have left is to go to any congressman / senator who listens & urge them to impose more sanctions
This way they can sleep better knowing they are doing something /anything
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US sanctions against #Syria were designed to punish Assad
Members of the opposition and their allies in Washington are extremely passionate about ensuring these sanction stay in place
Totally forgotten are the millions of innocent people who live in Govt-controlled areas
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2-US sanctions designed to hurt Assad are hurting millions of people wayyyyy more than they are hurting their intended target
3-While one understands the need to “do something” to hurt Assad and the “regime”, the truth is that the sanctions have created a massive income and wealth wedge between the connected war lords and the poor general populace living inside Govt-controlled areas
2-It is true that many financial intermediaries have both not been made aware of GL 23 and/or are reluctant to engage in doing any business in #Syria for fear of being subjected to OFAC restrictions and the Caesar Act
Significant new positive initiatives from Washington that demonstrate how the Administration is increasing aid to Syrians in need, no matter where they live, The Treasury has just issued GL 23 to to support earthquake relief efforts in #Syria ====>
2- ( GL) 23 is a blanket General License to authorize earthquake relief efforts, and it was issued to make very clear that U.S. sanctions in #Syria will not stand in the way of life-saving efforts for the Syrian people.
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3- While U.S. sanctions programs already contained exemptions for humanitarian efforts, this just announced General License helps to ensure that those who are providing assistance can focus on saving lives and rebuilding in #Syria
#Lebanon ‘s Central Bank booked what is now a cumulative $69 billion loss by creating a line item on balance sheet called
Other=Deferred=Magic Assets
@AndyKhalil1 was one of first to highlight this in detail
But how did @BDL_Lebanon pull this off & why did so many miss it?
When a business incurs losses, it marks down its equity
@BDL_Lebanon equity was always a tiny $3.5 billion (blue line)
This was too small of a buffer to mark down given the sizable losses that were being incurred
Instead, BDL created
Other=Deferred=Magic (red line)
Why are central banks even allowed to create just other / deferred / Magic assets ?
Because in the future and when central banks make money they bring this line item back down rather than pay the profits back to the state treasury as they are supposed to do
As part of a number of private discussions with @joshua_landis & after 10 years of war, I believe there is hardly been any real in-depth psych-analysis of Bashar Assad, the person
Arguably, this has been a key factor why many #Syria analysts got it so wrong from the start
2-“Getting Bashar wrong” dates back to the very beginning immediately after his he took power
Many thought he would be a “reformer”
Time he spent in the UK was used to explain such predictions
Fact that he was the softer version of his late brother Basel was another
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3-Ex diplomat who later joined the Opp once told me privately how on his first Arab League meeting, the young new leader was treated v much that way by key Gulf monarch
He recalled how Bashar was visibly irritated at being seen as a young son