History repeats itself, the saying goes, first as tragedy and then as farce. This characterization could readily be applied to the international community's efforts to negotiate a treaty banning the production of fissile material for nuclear weapons. A longstanding objective of the international community, the Fissile Material Cut-off Treaty (FMCT) has, tragically, never been the subject of even preliminary negotiations, as the nuclear powers that allegedly support it avoid taking any effective action on the treaty while, farcically, bemoaning its absence.