Bannon`s War Room Episode 5261: The Mutiny In NATO
Mar 31, 2026
David Zier, Pentagon correspondent reporting on force protection and readiness. Ben Harnwell, Europe-based political analyst on NATO and finance. They discuss NATO strain over burden-sharing. They cover allied central bank Treasury sales and risks to dollar influence. They analyze Spain and Italy blocking US flights and implications for military movements.
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U.S. Has Carried European Defense Burden
- The U.S. has long underwritten European defense and expects allies to pay and provide forces now during regional conflicts.
- Stephen K. Bannon emphasized decades of U.S. burden bearing and argued allied financial and troop contributions are now politically and operationally necessary.
Allies Selling U.S. Treasuries During Crisis
- Since late February central banks have sold significant Treasury holdings, signaling financial moves by some U.S. partners amid the crisis.
- Ben Harnwell cited Fed data showing $82 billion of sales since Feb 25 and identified Turkey and India as likely sellers.
Spain Closed Airspace And Denied Joint Bases
- Spain closed its airspace to U.S. military flights and denied use of Rota and Moron bases, a de facto refusal to support U.S. operations.
- Ben Harnwell and Stephen K. Bannon described Spain's move as a major logistics and alliance break in an active campaign.