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5 "Tells" that the Stock Markets Are About to Reverse

The Korean War 2

Politics / US Politics Dec 09, 2010 - 03:28 AM GMT

By: Mike_Whitney

Politics

Best Financial Markets Analysis ArticleThe Obama administration is moving closer to a war with North Korea. Propaganda fliers have been spread across the Demilitarized Zone (DMZ), some of them reaching as far north as Pyongyang. According to the Korea JoongAng Daily an official from the South Korean Ministry of National Defense said "the South is prepared to broadcast propaganda along the DMZ and that the ministry is “weighing the timing.”...Loudspeakers are already installed in 11 areas along the DMZ for further propaganda attacks." ("Propaganda war escalates; use of loudspeakers mulled", Korea JoongAng Daily)


The proximate cause of the flareup is North Korea's shelling of Yeonpyeong Island, which lies off the North's coast in disputed territory. Journalist Gregory Elich explains the details surrounding the incident in an article titled "Menacing North Korea"

"In response to the South Korean announcement of an impending artillery drill, North Korea telephoned the South Korean military on the morning of November 23, urging them to cancel plans to fire shells into what the North regarded as its territorial waters. The North warned that if the drill proceeded, they would respond with a "resolute physical counter-strike."

Nevertheless, the artillery drill proceeded and four hours later, North Korean artillery fired on the island. In the first round, 150 shells were shot, of which 60 hit the island. Then 20 more shells were fired in a second round. In all, four people on the island were killed and 18 wounded." ("Menacing North Korea", Gregory Elich, counterpunch.org)

In other words, the North was provoked. The United States and South Korea have been staging war games in the Yellow Sea with the clear intention of provoking the North. US diplomats are using the shelling of Yeonpyeong to pressure China to coerce the North into acceding to US diktats. So far, China has played a constructive role by calling for 6 party talks, but that's not enough for Washington. What Washington wants is regime change, and it's tightened sanctions and increased its saber rattling to achieve its goal. Here's more from the Korea JoongAng Daily which lays out the US plan for escalation:

"The heads of the U.S. and South Korean Joint Chiefs of Staff agreed to change defenses against North Korean attacks yesterday, with South Korea getting a leading role in immediate retaliations and the Americans pledging support.

The agreement was made as Adm. Mike Mullen, chairman of the U.S. Joint Chiefs of Staff, made an unexpected visit to Seoul yesterday to reaffirm America’s commitment to its alliance with South Korea. Mullen spoke with his South Korean counterpart, Han Min-koo, about North Korea early yesterday.

“North Korea’s attacks are getting bolder and bolder,” said Han. “If they choose to strike again they will be punished severely, and North Korea will pay a big price.” ("U.S. top brass discusses new retaliation strategy",Korea JoongAng Daily)

It's a dangerous game the administration is playing in the Yellow Sea, although little has been reported in the Western media. The US wants China to show that it is a "responsible stakeholder" in the region, which means that it will comply with US foreign policy objectives. The administration wants to put a wedge between the two long-time allies so it can better contain China and precipitate a collapse of the DPRK. Here's how Admiral Mullen sums it up:

"The Chinese have enormous influence over the North, influence that no other nation on Earth enjoys....And yet, despite a shared interest in reducing tensions, they appear unwilling to use it."

Washington expects China to help it achieve its imperial ambitions and gain a stronger foothold in the region. The administration has no interest in diplomacy or negotiations. It relies on cunning, intimidation, and brute force--the same as the Bush administration.

More US/South Korea maneuvers are planned before the end of December, ostensibly to provoke a hostile response from the North. The US believes it can control the conflict in a way that serves its own interests, but that might not be the case. After all, North Korea's leaders have no illusions about what a war with the US would mean. They haven't forgotten the 3 million Koreans who died during the war or the atrocities that were perpetrated by the invading American army. Here's a refresher for those readers who may be sketchy on the details. This is from an article titled "A NEW LOOK AT THE KOREAN WAR" by John H. Kim, Veterans For Peace:

"Massacre of Korean Civilians

The U.S. Army, Air Force and Navy were directly involved in the killing of about three million Koran civilians—both South Koreans and North Koreans—at many locations throughout Korea, including Masan, Sachon, Tanyang, Iksan, Changyong, Wegwan, Ducksung, Sinchun, Wonsan, Pyongyang, etc. Several hundreds of civilians refugees were blown apart when the U.S. Army blew up Wegwan and Ducksung bridges in S. Korea..... Among the several branches of the U.S. military, the U.S. Air Force was probably more responsible than any other branches for the huge number of civilian killings because of its indiscriminate shootings and bombings of civilian refugees, villages, towns, and cities in violation of Hague Conventions. At the end of the war, almost all the North Korean cities were leveled to the ground by carpet bombing, including Pyonyang, Najin, Shiniju, Wonsan, Hungnam, etc. It is reported that the U.S. dropped some 650,000 tons of bombs, including 43,000 tons of napalm bombs, during the Korean War. (See Cumings, the Origins of the Korean War, Vol. II; Hart-Landsberg, Korea; and The Korea Herald, 10/9/1999)

Additionally, major dams and water supplies were blown up, hydroelectric power plants were destroyed, oil refineries, factories, bridges, hospitals, food storage units were all reduced to rubble. The North faced a decade of grinding poverty and starvation due to US attacks on vital infrastructure and supplies. Also--similar to Falluja--"American war planes dropped chemical bombs on the North Korean military positions as well as on villages, resulting hundreds of North Korean civilian deaths. The U.S. also experimented with biological weapons in the North, with the active assistance of the Japanese war criminals who were involved in human experiments during WWII."

Sound familiar?

North Korea knows how the US fights and may not be persuaded that "limited engagement" is the way to go. It may just pull-out-all-the-stops and use the tools it has at its disposal (including nukes) to protect itself from an irrational and ruthless bully. The risks are just too great to act otherwise. Just ask Saddam.

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.

© 2010 Copyright Mike Whitney - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Mike Whitney Archive

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