U.S. Relations With Israel Hit New Low
Author: Greg Valliere
May 8, 2024
DESPERATE TO STOP AN ISRAELI INVASION of Rafah, the Biden administration has taken an extraordinary step — weapons promised by the U.S. to Israel have been held back, in an attempt to dissuade the Israelis from invading.
THESE WEAPONS INCLUDE about 1,800 2,000-pound bombs and about 700 500-pound bombs. The Biden Administration contends that these weapons would inflict enormous civilian casualties. Blocking the shipments, they say, would be a “shot across the bow” from the U.S.
A TOP BIDEN OFFICIAL was blunt late yesterday. “Israel should not launch a major ground operation in Rafah, where more than a million people are sheltering with nowhere else to go,” he said.
A HALT IN THE SHIPMENTS began this past weekend, raising serious concerns inside the Israeli government, which is prepared to move regardless of Washington’s stance. Biden officials, facing an uproar from the Democrats’ left, want to discuss with Israel how it will meet the humanitarian needs of civilians in Rafah.
A HOSTAGE RELEASE as part of a truce deal does not appear to be imminent. Reports of a deal always emphasize that Hamas and its allies are ready to accept a truce on their terms, but there’s little indication that Prime Minister Benjamin Netanyahu and his very hawkish war cabinet are ready to deal.
THE JERUSALEM POST QUOTED Netanyahu last night as follows: “The Hamas proposal is very far from [meeting] Israel’s necessary requirements,” he stated in a video message.“Israel cannot accept a proposal that endangers the security of our citizens and the future of our country,” Netanyahu said.
THE INVASION OF RAFAH will continue until Hamas and its four battalions in Gaza are wiped out. It could take several weeks — regardless of pressure from Washington. Biden is in a bind, and if he refuses to send more weapons, U.S. relations with Israel could hit a fresh low.
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
For further information, please visit AGF.com.
©2024 AGF Management Limited. All rights reserved.
