Best of the Week
Most Popular
1.U.S. Housing Bull Market Over? House Prices Trend Forecast Current State - Nadeem_Walayat
2.The Coming U.S. Economic Collapse Will Trigger a Revolution - Harry_Dent
3. Stock Market Crash a Historical Pattern? - Wim_Grommen
4.Global Panic - U.S. Federal Government Stockpiling Ammo – Here’s What We’re Going to Do - Shah Gilani
5.AI, Robotics, and the Future of Jobs - Aaron Smith
6.This is Your Economic Recovery With and Without Drugs - James_Quinn
7.Gold and Silver Price Getting Set To Explode Higher - Austin_Galt
8.The Something for Nothing Society - Lifecycle of Bureaucracy - Ty_Andros
9.Another Interesting Stock Market Juncture - Tony_Caldaro
10.Inflation vs the Deflationary Straw Man - Gary_Tanashian
Last 5 days
Independent Scotland Currency, Plan A, B, C or D - British or Scottish Pound? - 2nd Sep 14
Gold and Silver Price A Critical Juncture - 2nd Sep 14
Gold and Silver Precious Metals Complex Contradiction and Potential - 2nd Sep 14
France And The Long-Gone Thatcher Moment - 2nd Sep 14
Stock Market Approaching An Important High? - 2nd Sep 14
Gold, Silver Price Summer Doldrums Coming to an End - 2nd Sep 14
The Ultimate Demise Of The Euro Union - 1st Sep 14
Palladium Price Breaks Multi-Year High Over $900 - 1st Sep 14
When Complexity Becomes Chaos - 1st Sep 14
Designer War By Default - 1st Sep 14
Islamic State or Russia? Ten Key Questions Towards Pragmatism - 1st Sep 14
Mixed Emotions for the Gold Market - 1st Sep 14
These Clowns Are Dragging Us Into War with Russia - 1st Sep 14
Marx And The Capitalist Cancer Of Overproduction - 1st Sep 14
Scottish Banks Salivating at the Prospects for an Independent Scotland of 6 Million Debt Slaves - 1st Sep 14
Small Man Europe Is Now In “Effective State Of War” With Russia - 31st Aug 14
The Unintended Blowback Of False Flags - 31st Aug 14
Tesco Supermarket Death Spiral Latest Profits Warning and Dividend Slashed - 31st Aug 14
Dow, Gold and Silver - A Last Stand, A Fake Out And A Surge - 31st Aug 14
If U.S. Consumers are so Confident Why aren't They Spending? - 31st Aug 14
Scotland Independence House Prices Crash, Deflationary Debt Death Spiral - 31st Aug 14
Obama’s “Catastrophic Defeat” in Ukraine - 30th Aug 14
Stock Market Inflection Point Approaching - 30th Aug 14
Gold And Silver - Elite's NWO Losing Traction. Expect More War - 30th Aug 14
Corporations Join Droves of Americans Renouncing US Citizenship - 30th Aug 14
Peter Schiff U.S. Housing Market, House Prices Bubble Warning - 30th Aug 14
Russia, Ukraine War - It’s Time to Play the “Gazprom Card” - 29th Aug 14
The One Tech Stock Investment You Should Never Sell - 29th Aug 14
Bitcoin Price $500 as Current Downside Barrier - 29th Aug 14
Don't Get Ruined by These 10 Popular Stock Market Investment Myths - 29th Aug 14
Low Cost Transcontinental Gold - 29th Aug 14
Gold Bullish Central Banks Should Give Money Directly To The People - Helicopter Janet? - 29th Aug 14
US House Prices Bull Market Over? Trend Forecast Video - 29th Aug 14
The Fed Meeting at Jackson Hole Exposed Yellen’s Greatest Weakness - 29th Aug 14
AAPL Apple Stock About To Get sMACked - 29th Aug 14
A History of Unlimited Money: Learn From It or Repeat Its Mistakes - 29th Aug 14
How You Can Play to Win When Market Makers Are Calling the Shots - 28th Aug 14
EU Gas Supply Is In Real And Imminent Danger - 28th Aug 14
Central Banks at the Root of Evil - 28th Aug 14
European Bond Market: Bubble of all Bubbles! - 28th Aug 14
Employers Aren’t Just Whining: The “Skills Gap” Is Real - 28th Aug 14
The ISIS Menace - Just What We Need, Another War - 27th Aug 14
The Risky Business of Methane-Rich “Fire Ice” - 27th Aug 14
CFR Recommends Policy Shift that is Very Bullish for Gold - 27th Aug 14
Ukraine Standoff Signals Global Power Shift - 27th Aug 14
Stock Market Panic Decline Begins - 27th Aug 14
The Monopoly of the Government Education Cartel - 27th Aug 14
How to Invest in Silver Today for Double-Digit Gains - 27th Aug 14
The Big Solar Energy Breakthrough We've Been Waiting For - 27th Aug 14
U.S. Empire’s Bumpy Ride - 27th Aug 14
Gold Market and the Interest Rate Trap - 27th Aug 14
Stock Market Staring Into the Great Abyss - 27th Aug 14
A Look at the Coming 30-year Inflation Cycle - 27th Aug 14
Forex Trading - Will USD/CHF Rally Above 0.9200? - 27th Aug 14
Europe’s Depressing Economy Dog Days of Summer - 27th Aug 14
How The Coming Silver Price Bubble Will Develop - 26th Aug 14
A Nation of Shopkeepers - Supply-Side (Voodoo) Economics? - 26th Aug 14
Stock Market Bear Tracks Abound In Wall Street - 26th Aug 14
65,000 U.S. Marines Hold up a Mirror to the Economy - 26th Aug 14
Bitcoin Market Provides Clues for Investors - 26th Aug 14
The Key to Trading Success - 26th Aug 14
Will The US Succeed in Breaking Russia to Maintain Dollar Hegemony?... - 26th Aug 14
Even Mainstream Academia Worried about Massive Bubbles in Markets - 26th Aug 14
Iraq and Syria Follow Lebanon's Precedent - 26th Aug 14
Colonization by Bankruptcy: The High-stakes Chess Match for Argentina - 26th Aug 14
Dow Stock Index On The Cusp - 26th Aug 14
Prohibition Laws and Agency Regulations - 26th Aug 14

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

The Biggest lie in Stock Market History Revealed

Bush backs down to Nuclear North Korea as US Drops Sanctions

Politics / North Korea Feb 09, 2007 - 05:46 AM GMT

By: Mike_Whitney

Politics

There's been plenty of saber rattling and bold talk about forcing North Korea to abandon its nuclear weapons program, but after a 6 year standoff, Bush has decided to give in to Kim Jung Il's demands. The western media is characterizing the new developments as a “breakthrough”, but, in fact, Bush has retreated on every issue of consequence. It is as close to a total foreign policy failure as one can possibly imagine. Nothing has been achieved. The bottom line is this; Kim refused to budge from his original position, while Bush completely capitulated on his.

“The US has talked tough without achieving anything.” Han Seung-Joo, South Korea's former foreign minister (UK Guardian)

Bush backs down to Nuclear North Korea as US Drops Sanctions


This suggests that there may have to be a serious reworking of Dick Cheney's famous maxim that “We don't negotiate with evil; we defeat it”.

Wrong again, Dick.

The so-called “breakthrough” took place last month in a face-to-face meeting between Washington and Pyongyang in Berlin. The meeting was kept secret to conceal the administration's willingness to meet one-on-one with their North Korean counterparts. Up until then, the chest-thumping Bushies had refused to negotiate in person; choosing instead to hide behind the 6 party talks. Kim's detonation of a nuclear bomb last summertriggered a sudden reversal inthe administration's approach. (Iran has probably noticed Bush's eagerness to negotiate with nuclear-armed states.)
“According to Japan's Asashi newspaper, the two sides signed a memorandum of understanding under which North Korea would make steps towards denuclearization at the same time as the US resumed annual shipments of 500,000 tonnes of oil, which were halted in 2002.” (UK Guardian)

If this all sounds familiar, it is because the deal is identical to the “Agreed Framework” that was worked out by the Clinton administration in 1994 (and which the Bush administration stubbornly refused to honor for 6 years). The only difference now is that North Korea has nuclear weapons.

The new agreement will drop US sanctions against the North and stop “freezing” their foreign banks accounts, a violation of international law. Kim will be expected to cease his nuclear activities at the Yongbyon reactor and allow inspectors from the IAEA, the UN nuclear watchdog agency, to resume their work.

Kim agreed to all of these conditions10 years ago; his position has never changed. Only Bush has backed-down.

US envoy, Christopher Hill, has tried to put a brave face on Washington's capitulation saying, “I sense a real desire to have progress.”

“Progress”?

Those who have followed the issue won't be so easily fooled. The administration is sending up the white flag and calling it victory. They've back-pedaled on every point of dispute and now they're back to “square one”.

Other parts of Clinton's “Agreed Framework” are still being hammered out, but it isnearly certainthat Bush will be required to meet the terms of the original deal and provide food and 2 lightwater reactors for electrical power. More importantly, Kim is bound to push for “security guarantees” which are now de rigueur for any nation negotiating with the war-mongering US. The North will demand a written assurance (Treaty) that the administration will not preemptively attack them. (The US National Security Statement claims the right to preemptively attack whoever it chooses depending on US national interests)

A signed treaty with North Korea would be agiant leapforward for nuclear nonproliferation as well as world peace.

6 years of failed policy, as well as wars that stretch across Central Asia and the Middle East, have finally pushed the blundering Bush administration to the bargaining table. The lesson is unavoidable: Bush CAN be forced to act rationally when all other options have been thoroughly exhausted. Perhaps, we can glean some small amount of hope from that.

South Korea's former foreign minister, Han Seung-Joo, summarized the latest diplomatic developments saying:

“The US and South Korea will play this up as a big success. But they are going back to where they were before. The US has talked tough without achieving anything. They have reached a new status quo in which North Korea is a nuclear weapons state”.

Like I said, we're back to square one, except now Kim has nukes.

By Mike Whitney

Email: fergiewhitney@msn.com

Mike is a well respected freelance writer living in Washington state, interested in politics and economics from a libertarian perspective.


© 2005-2014 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Free Report - Financial Markets 2014