Bibi Netanyahu’s speech to AIPAC last night was in a very real way a refutation of the Obama policies and rhetoric. While thanking the Obama administration for its aid and opposition to the Goldstone Report and reaffirming the bonds and common foes of the two nations, Netanyahu’s messages were unmistakable: take care of Iran or Israel will act, and we are not to be bullied on Jerusalem. But he said it much more elegantly than that.

On Iran, he reminded the audience (as he often does) that the Jewish people know a thing or two about genocide. He declared:

The greatest threat to any living organism or nation is not to recognize danger in time. Seventy-five years ago, the leading powers in the world put their heads in the sand. Untold millions died in the war that followed. Ultimately, two of history’s greatest leaders helped turn the tide. Franklin Delano Roosevelt and Winston Churchill helped save the world. But they were too late to save six million of my own people. The future of the Jewish state can never depend on the goodwill of even the greatest of men. Israel must always reserve the right to defend itself.

Today, an unprecedented threat to humanity looms large. A radical Iranian regime armed with nuclear weapons could bring an end to the era of nuclear peace the world has enjoyed for the last 65 years. Such a regime could provide nuclear weapons to terrorists and might even be tempted to use them itself. Our world would never be the same. Iran’s brazen bid to develop nuclear weapons is first and foremost a threat to Israel, but it is also a grave threat to the region and to the world. Israel expects the international community to act swiftly and decisively to thwart this danger. But we will always reserve the right to defend ourselves. [long ovation]

To the Obami, then, the message is — engage or sanction Iran, but in the end Israel will do what it has to. Now let’s not kid ourselves. There are multiple reasons why it is preferable and right for the U.S. to act militarily if it comes to that, but Netanyahu is laying down the marker. The U.S. has said it’s unacceptable for Iran to have nuclear weapons? It had better mean it.

As for Jerusalem, first he asserted that the effort to characterize “the Jews as foreign colonialists in their own homeland is one of the great lies of modern times.” So he played the archaeology card:

In my office, I have on display a signet ring that was loaned to me by Israel’s Department of Antiquities. The ring was found next to the Western wall, but it dates back some 2,800 years ago, two hundred years after Kind David turned Jerusalem into our capital city. The ring is a seal of a Jewish official, and inscribed on it in Hebrew is his name: Netanyahu. His name was Netanyahu Ben-Yoash. My first name, Benjamin, dates back 1,000 years earlier to Benjamin, the son of Jacob. One of Benjamin’s brothers was named Shimon, which also happens to be the first name of my good friend, Shimon Peres, the President of Israel. Nearly 4,000 years ago, Benjamin, Shimon and their ten brothers roamed the hills of Judea.

So much for the Obama Cairo version of history, which premises, as the Palestinians are also wont to do, Israel’s legitimacy on the Holocaust. And what does this mean for Israel’s bargaining position and current conduct?

The connection between the Jewish people and the Land of Israel cannot be denied. The Jewish people were building Jerusalem 3,000 years ago and the Jewish people are building Jerusalem today. Jerusalem is not a settlement. It is our capital. [longest applause of the speech] In Jerusalem [interrupted by applause], my government has maintained the policies of all Israeli governments since 1967, including those led by Golda Meir, Menachem Begin and Yitzhak Rabin. Today, nearly a quarter of a million Jews, almost half the city’s Jewish population, live in neighborhoods that are just beyond the 1949 armistice lines. All these neighborhoods are within a five-minute drive from the Knesset. They are an integral and inextricable part of modern Jerusalem. Everyone knows [departing from the prepared text and for emphasis he adds -- the Europeans, the Americans, the Palestinians and certainly the Israelis all know] that these neighborhoods will be part of Israel in any peace settlement. Therefore, building them in no way precludes the possibility of a two-state solution.

That’s the response to the Obama assault on the Jerusalem housing project and the answer to Clinton’s pernicious suggestion yesterday that building in the eternal capital prejudices the “peace process.”

Now, the speech was more than a response to the Obami’s dawdling on Iran or its hissy fit over Ramat Shlomo. Netanyahu also reminded the crowd of the peril to both Israel’s legitimacy and security:

If you want to understand Israel’s security predicament, imagine the entire United States compressed to the size of New Jersey. Next, put on New Jersey’s northern border an Iranian terror proxy called Hezbollah which fires 6,000 rockets into that small state. Then imagine that this terror proxy has amassed 60,000 more missiles to fire at you. Now imagine on New Jersey’s southern border another Iranian terror proxy called Hamas. It too fires 6,000 rockets into your territory while smuggling ever more lethal weapons into its territory. Do you think you would feel a little bit vulnerable? Do you think you would expect some understanding from the international community when you defend yourselves?

And he reiterated that Israel, but not the Palestinians, has taken risks for peace and is willing to engage in direct talks. He certainly made the convincing case that his government — in its West Bank settlement freeze, lifting of blockades, and invitation for direct negotiations — has done much, while the Palestinians have offered nothing in return. (“It cannot be a one-way street in which only Israel makes concessions.”)

But the speech, I think, will be most remembered for the bold refutation of what has passed as the Obami Middle East policy. One question remains: how will the U.S.-Israel relationship weather the Obama administration, given the differences in outlook and approach? That’s far from clear.