7 Jan 2016

North Korea and Banking

"White House officials, eager to undercut whatever propaganda value the North saw in claiming its first success in detonating a thermonuclear device, said that initial data from its monitoring stations in Asia were “not consistent” with a test of a hydrogen bomb."

Is what kind of nuke it was really the point?

"The one time the United States did clearly get the North’s attention was when it cut off bank accounts in Macau that Kim Jong-il, the father of the current leader, used to finance the lifestyle of the North Korean elite. But eventually, the Bush administration had to lift that sanction, partly under pressure from allies." source

Who pressures the United States on policy regarding rogue states with nuclear weapons?

From back in 2007:

"Under pressure from the U.S., banking authorities in Macau moved 18 months ago to freeze some $25 million in North Korean funds at Banco Delta Asia, a bank used for years by the North Koreans. This week's release of those funds is raising hopes that Pyongyang will now move toward permanently halting its nuclear program and normalizing relations with the U.S., South Korea and other neighboring countries .... (why do I find this hilariously Pollyanna?) .... Returning from a visit to Pyongyang yesterday, New Mexico Gov. Bill Richardson said North Korean leaders told him that they "would move promptly, within a day, after receiving the funds" to begin decommissioning their Yongbyon nuclear reactor"

I can't believe anyone believed that. From the same article:

"Some of the U.S. negotiators say that rather than finding their North Korean counterparts menacing, they often felt sorry for them. The BDA episode illustrates just how little North Korea understands about the outside world, they say, which only fuels its belligerence. If it can be integrated into international bodies and diplomacy, they say, it may gradually moderate itself."

In what universe?

11 months ago:

"Though the U.S. action in 2005 was lifted, the stigma effect it created turned North Korea into kryptonite for most banks, which avoid transactions with the country even when they are not expressly banned."

14 hours ago:

"China "knew nothing about the nuclear test beforehand," Foreign Ministry spokeswoman Hua Chunying told reporters. She indicated that Beijing may summon the North Korean ambassador to lodge a protest.China had been informed ahead of each of North Korea's three previous nuclear tests, but this one apparently came as a bolt from the blue....  Many expect China to vote in favor of a United Nations Security Council resolution being put forward by the U.S. and other nations. The Chinese government backed sanctions imposed by the council after the February 2013 nuclear test and took its own steps as well, blocking a major state-owned bank from transferring money to North Korea"

Their money.
Screw them on their money.
When the ruling elite that is used to dining probably better than we do - while their people starve and die on masse in concentration camps - are no longer able to have life's little luxuries....Then stuff may happen.

Or... Are we seriously going to go a whole third Kim generation before that boil on the face of East Asia is dealt with?

1 comment:

  1. It baffles the hell out of me how the US Government deals with the world. On the one hand, we've been in the Middle East for decades keeping people from harm by the hands of one imagined dictator, just to install another real dictator.

    Yet; Pyongyang is left to its own devices and the US Government knows for certain, the living standards of these pigs while their citizens die in work camps and prisons. And we not only don't pressure them, we give their friggin money to them so they can live the life of kings and create nuclear weapons.

    Geopolitics are simply beyond nonsense.