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Good evening, I'm Will Dove and these are the top stories for Monday, May 5th. President Donald Trump reiterated his skepticism about military annexation of Canada during a May 4th NBC interview, but left the door open for potential action toward Greenland, citing national security concerns about Russian and Chinese Arctic activity. Trump has criticized Canada's NATO contributions, claiming we spend less than practically any nation on defense while relying on U.S. protection.
Trump has repeatedly criticized Canada's defense spending, claiming we spend less than 1% of GDP. However, NATO figures show Canada spent 1.38% of GDP in 2024, up from 1.31% in 2023, ranking 6th lowest among 31 NATO members with standing armies. While below the 2% target, Canada is not practically the lowest and ranks 7th in absolute spending due to our large economy.
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Those statistics do not negate the fact that our armed forces are shamefully understrength and undersupplied. Greenland remains Trump's priority, with Vice President J.D. Vance accusing Denmark of insufficiently protecting U.S. interests at the Pacific Space Base, a critical node for missile defense and rare earth mineral access. Chinese-Russian Arctic patrols near Greenland have intensified since October, heightening Washington's strategic urgency.
Meanwhile, 50% of Chinese exports originally bound for the U.S. have been rerouted to Canada since mid-April to bypass Trump's tariffs, which now reach 145% on some goods. This diversion has flooded Canadian markets with discounted products, threatening domestic manufacturers already grappling with China's retaliatory 100% tariffs on Canadian canola oil and peas. Canada's EV industry faces dual pressures.
Ottawa imposed tariffs on Chinese electric vehicles and metals in 2024 to align with U.S. trade policy, but Chinese dumping now risks undercutting local producers. Vancouver Port saw a record 7.3 million barrels of Canadian crude shipped to China in March, amidst a 90% drop in U.S. oil purchases by Beijing. Israel deployed 30 fighter jets to bomb Houthi targets in Yemen's Hodeidah port today, responding to a May 4 ballistic missile strike that damaged Tel Aviv's Ben Gurion airport.
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The missile launched from Yemen bypassed U.S.-supplied THAAD and aero defense systems, injuring six bystanders and leaving a 30-meter crater near Terminal 3. Defense Minister Israel Katz vowed retaliation sevenfold, while PM Benjamin Netanyahu blamed Iran, declaring, Simultaneously, Netanyahu's cabinet approved a plan to seize full control of Gaza indefinitely, pending Donald Trump's upcoming visit. The strategy involves displacing civilians south, dismantling Hamas's aid control, and deploying private contractors for food distribution under IDF security. Chief of Staff Eyal Zamir warned the offensive could jeopardize 59 remaining hostages, 35 now confirmed dead, by limiting rescue options.
The IDF anticipates months of intense fighting, with National Security Minister Itamar Ben-Gavir opposing renewed aid deliveries. Houthi forces claimed the airport strike was retaliation for Gaza's siege, pledging continued attacks until Israel withdraws. U.S. officials confirmed coordinating with Israel on today's strikes, signaling deeper involvement in Red Sea operations.
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Financial analyst Martin Armstrong urged the U.S. to get the hell out of NATO during a May 3 interview, predicting Europe's debt crisis will spark a war with Russia to distract from trillions in unpayable obligations. His warning aligns with a 1993 George Soros essay advocating NATO as a tool to impose open societies through economic and military coercion. Soros redefined NATO's mission post-Cold War to dismantle closed societies by force, if necessary, prioritizing Western-aligned governance over self-determination.
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Armstrong forecasts a 2025-2028 depression in Europe, with leaders seeking to conquer Russia for its $75 trillion in resources. He expects China to back Moscow, causing up to one billion casualties, while capital flees to the U.S., a scenario Soros blueprint enabled through NGO networks, IMF austerity mandates, and multinational privatization schemes. The Partnership for Peace program, launched in 1994, expanded NATO into Eastern Europe under this model, with Finland and Sweden recently joining.
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Soros' Open Society foundations have funneled $18 billion into reshaping global institutions since 1993, embedding Western values through grants to activists, media, and politicians. Critics argue the system enriches elites while labeling dissenters as enemies of democracy. I'm Will Dove, and those are the top stories for today, Monday, May 5th.