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I'm going to respectfully disagree w/ those calling it Dutch Elm disease. That (DED) is a fungus that attacks the tree from specific entry points and you can see the fungus between the bark and wood especially in the form of black lines, mold, fungus. It attacks the sap delivery system in elm trees so the foliage would be damaged long before the bark started peeling and usually attacks a tree in sections like a limb or two then spreads not so much globally like the pics show, and I don't see any fungus in the pics. My bet would be on wood boring insects. Can you see holes tiny ones the size of a pencil point all over the inside of the bark? As much as I HATE "icides" of all kinds I think that is your only possibility to save the tree, and w/ as much damage as there already is I would say it is a slim chance.
Oh and by the way the wood boring insects also attack the sap delivery system of a tree just between the bark and wood.