Trump-North Corea Summit ‘Open Hostility’

While probably not a huge surprise following the recent escalation in US and North Korean diplomatic outbursts, which last night culminated with a top North Korean official calling Mike Pence a “political dummy”, and warning that if the upcoming summit between the US and North Korea is called off, the U.S. could instead face off with North Korea in a “nuclear-to-nuclear showdown”, moments ago Trump stunned the world when he sent a letter to Kim Jong Un, calling off the June 12 Singapore meeting, stating that “based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting.”
The letter also contained the usual terms of endearment such as:

• The warning: “You talk about your nuclear capabilities, but ours are so massive and powerful that I pray to God they will never have to be used.“
• The trolling: “Some day, I look very much forward to meeting you. In the meantime, I want to thank you for the release of the hostages who are now home with their families. That was a beautiful gesture and was very much appreciated.“
• The loss (yours, not ours): The world, and North Korea in particular, has lost a great opportunity for lasting peace and great prosperity and wealth. This missed opportunity is a truly sad moment in history.
• And of course, don’t forget to write… sometime: “If you change your mind having to do with this most important summit, please do not hesitate to call me or write.”

Whether this is simply another diplomatic gambit on behalf of the White House, hoping to force China to get Kim to “play nice”, with the prodding of South Korea which has everything to lose and nothing to gain from a collapse in the summit, remains unclear, and will depend on the response from North Korea, which earlier today just “demolished” its already destroyed nuclear research center.
Full letter below:

Dear Mr. Chairman:
We greatly appreciate your time, patience, and effort with respect to our recent negotiations and discussions relative to a summit long sought by both parties, which was scheduled to take place on June 12 in Singapore. We were informed that the meeting was requested by North Korea, but that to us is totally irrelevant.
I was very much looking forward to being there with you. Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting. Therefore, please let this letter serve to represent that the Singapore summit, for the good of both parties, but to the detriment of the world, will not take place. You talk about your nuclear capabilities, but ours are so massive and powerful that I pray to God they will never have to be used.
I felt a wonderful dialogue was building up between you and me, and ultimately, it is only that dialogue that matters. Some day, I look very much forward to meeting you. In the meantime, I want to thank you for the release of the hostages who are now home with their families. That was a beautiful gesture and was very much appreciated.
If you change your mind having to do with this most important summit, please do not hesitate to call me or write.
The world, and North Korea in particular, has lost a great opportunity for lasting peace and great prosperity and wealth. This missed opportunity is a truly sad moment in history.”

And the original:

To all those who bought the commemorative Trump-Kim meeting coin, our condolences:

And as we await North Korea’s response, now that diplomacy has once again failed, the “Libya scenario” appears to be official in play.
Judging by the market’s response, the worst case scenario is back front and center.