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Mish’s Global Economic Trend Analysis

All the tin hats that disputed Ron Paul’s position that Iran was not developing nuclear weapons can now hear the same thing from US Secretary of Defense. Please consider Panetta admits Iran not developing nukes.

U.S. Defense Secretary Leon Panetta let slip on Sunday the big open secret that Washington war hawks don’t want widely known: Iran is not developing nuclear weapons.

Appearing on CBS’s Face the Nation on Sunday, Panetta admitted that despite all the rhetoric, Iran is not pursuing the ability to split atoms with weapons, saying it is instead pursuing “a nuclear capability.”

That “capability” falls in line with what Iran has said for years: that it is developing nuclear energy facilities, not nuclear weapons.

“I think the pressure of the sanctions, the diplomatic pressures from everywhere, Europe, the United States, elsewhere, it’s working to put pressure on them,” Panetta explained on Sunday. “To make them understand that they cannot continue to do what they’re doing. Are they trying to develop a nuclear weapon? No. But we know that they’re trying to develop a nuclear capability, and that’s what concerns us. And our red line to Iran is, do not develop a nuclear weapon. That’s a red line for us.”

Link if video does not play: Iran Not Developing Nuclear Weapons

That admission by Defense Secretary Panetta proves just how preposterous the US position is. Hopefully Europe has second thoughts over the absurd embargo it is considering later this month.

January 10, 2012