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Can NATO still mean something if the US leaves? I think so, but there is much soul searching to be done.
It isn't credible now. It likely won't exist at all in 4 years. Unless it cedes even more decision making authority to the US and becomes even more of a puppet.
The main point I was making is that Trump is almost certainly going to pull the US out of NATO altogether.
As an european: Good riddance.
https://en.wikipedia.org/wiki/Operation_Gladio
When the US speaks about protection, they mean vassality. It means protection like the mafia does.