Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Reverse REPO Market Brewing Financial Crisis Black Swan Danger - 29th Jul 21
Next Time You See "4 Times as Many Stock Market Bulls as There Are Bears," Remember This - 29th Jul 21
USDX: More Sideways Trading Ahead? - 29th Jul 21
WEALTH INEQUALITY WASN'T BY HAPPENSTANCE! - 29th Jul 21
Waiting On Silver - 29th Jul 21
Showdown: Paper vs. Physical Markets - 29th Jul 21
New set of Priorities needed for Unstoppable Global Warming - 29th Jul 21
The US Dollar is the Driver of the Gold & Silver Sectors - 28th Jul 21
Fed: Murderer of Markets and the Middle Class - 28th Jul 21
Gold And Silver – Which Will Have An Explosive Price Rally And Which Will Have A Sustained One? - 28th Jul 21
I Guess The Stock Market Does Not Fear Covid - So Should You? - 28th Jul 21
Eight Do’s and Don’ts For Options Traders - 28th Jul 21
Chasing Value in Unloved by Markets Small Cap Biotech Stocks for the Long-run - 27th Jul 21
Inflation Pressures Persist Despite Biden Propaganda - 27th Jul 21
Gold Investors Wavering - 27th Jul 21
Bogdance - How Binance Scams Futures Traders With Fake Bitcoin Prices to Run Limits and Margin Calls - 27th Jul 21
SPX Going for the Major Stock Market Top? - 27th Jul 21
What Is HND and How It Will Help Your Career Growth? - 27th Jul 21
5 Mobile Apps Day Traders Should Know About - 27th Jul 21
Global Stock Market Investing: Here's the Message of Consumer "Overconfidence" - 25th Jul 21
Gold’s Behavior in Various Parallel Inflation Universes - 25th Jul 21
Indian Delta Variant INFECTED! How infectious, Deadly, Do Vaccines Work? Avoid the PCR Test? - 25th Jul 21
Bitcoin Stock to Flow Model to Infinity and Beyond Price Forecasts - 25th Jul 21
Bitcoin Black Swan - GOOGLE! - 24th Jul 21
Stock Market Stalling Signs? Taking a Look Under the Hood of US Equities - 24th Jul 21
Biden’s Dangerous Inflation Denials - 24th Jul 21
How does CFD trading work - 24th Jul 21
Junior Gold Miners: New Yearly Lows! Will We See a Further Drop? - 23rd Jul 21
Best Forex Strategy for Consistent Profits - 23rd Jul 21
Popular Forex Brokers That You Might Want to Check Out - 22nd Jul 21
Bitcoin Black Swan - Will Crypto Currencies Get Banned? - 22nd Jul 21
Bitcoin Price Enters Stage #4 Excess Phase Peak Breakdown – Where To Next? - 22nd Jul 21
Powell Gave Congress Dovish Signs. Will It Help Gold Price? - 22nd Jul 21
What’s Next For Gold Is Always About The US Dollar - 22nd Jul 21
URGENT! ALL Windows 10 Users Must Do this NOW! Windows Image Backup Before it is Too Late! - 22nd Jul 21
Bitcoin Price CRASH, How to SELL BTC at $40k! Real Analysis vs Shill Coin Pumper's and Clueless Newbs - 21st Jul 21
Emotional Stock Traders React To Recent Market Rotation – Are You Ready For What’s Next? - 21st Jul 21
Killing Driveway Weeds FAST with a Pressure Washer - 8 months Later - Did it work?- Block Paving Weeds - 21st Jul 21
Post-Covid Stimulus Payouts & The US Fed Push Global Investors Deeper Into US Value Bubble - 21st Jul 21
What is Social Trading - 21st Jul 21
Would Transparency Help Crypto? - 21st Jul 21
AI Predicts US Tech Stocks Price Valuations Three Years Ahead (ASVF) - 20th Jul 21
Gold Asks: Has Inflation Already Peaked? - 20th Jul 21
FREE PASS to Analysis and Trend forecasts of 50+ Global Markets by Elliott Wave International - 20th Jul 21
Nissan to Create 1000s of jobs with electric vehicle investment in UK - 20th Jul 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

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.


© 2005-2019 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