Palestine – Israel and WBGS

Written October 7 at 3:30pm

Netanyahu says Israel ‘at war’ after Hamas attack; Israeli civilians and military personnel held captive in Gaza Strip Israeli air force strikes killed about 200 people and injured 1,600, the Palestinian Health Ministry said. Hamas said it has taken “senior officers” hostage.” Washington Post: Israel Gaza rocket attack”

“Israeli forces are responding to an unprecedented early morning attack by Islamist Hamas militants by launching land and airstrikes on the Gaza Strip following weeks of rising tensions along the region’s volatile border. Saturday’s surprise attack from Hamas, which came during a major Jewish holiday and followed the 50th anniversary of the start of the 1973 Yom Kippur war, has led to Israel’s deadliest day in at least 75 years.” Washington Post 11/7/20223

“Hamas said it rained 150 rockets on Tel Aviv
BEIRUT — In response to the Israeli bombardment of Palestine Tower in Gaza, Hamas said it had fired 150 rockets toward Tel Aviv on Saturday evening.” Washington Post 11/7/20223

“Hamas’s objectives in the operation are no secret: First, retaliate and punish Israel for its occupation, oppression, illegal settlement, and desecration of Palestinian religious symbols, especially Al-Aqsa Mosque in Jerusalem; second, take aim at Arab normalisation with Israel that embraces its apartheid regime in the region; and lastly, secure another prisoner exchange in order to get as many Palestinian political prisoners released from Israeli jails as possible.” “From hubris to humiliation-the 10 hours that shocked Israel”

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Wars are almost always wrong and disastrous and this one is no exception.  The causalities on both sides are still unfolding. Until this mornings attacks, the aggressor during the earlier part of this year was almost always Israel. This year alone until yesterday Israelis had killed 227 Palestinians and wounded 8,488, many of them children, often in the process of bulldozing Palestinian homes to make room for illegal Israeli settlements. This was almost 8 times the number of Israelis killed by Palestinians – 29 almost all of whom (25) were killed in the West Bank.

The history of the region and my work there is reported in “My Travels to Jerusalem”  But since writing that book an extreme right wing apartheid government has taken over Israel and dropped all pretense of treating the Palestinians fairly. And in the meantime, the Palestinian Authority established as part of the Oslo Accords continues to suffer from its own problems. I weep for my Israeli and Palestinian friends.

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Author: Warren Coats

I specialize in advising central banks on monetary policy and the development of the capacity to formulate and implement monetary policy.  I joined the International Monetary Fund in 1975 from which I retired in 2003 as Assistant Director of the Monetary and Financial Systems Department. While at the IMF I led or participated in missions to the central banks of over twenty countries (including Afghanistan, Bosnia, Croatia, Egypt, Iraq, Israel, Kazakhstan, Kenya, Kosovo, Kyrgystan, Moldova, Serbia, Turkey, West Bank and Gaza Strip, and Zimbabwe) and was seconded as a visiting economist to the Board of Governors of the Federal Reserve System (1979-80), and to the World Bank's World Development Report team in 1989.  After retirement from the IMF I was a member of the Board of the Cayman Islands Monetary Authority from 2003-10 and of the editorial board of the Cayman Financial Review from 2010-2017.  Prior to joining the IMF I was Assistant Prof of Economics at UVa from 1970-75.  I am currently a fellow of Johns Hopkins Krieger School of Arts and Sciences, Institute for Applied Economics, Global Health, and the Study of Business Enterprise.  In March 2019 Central Banking Journal awarded me for my “Outstanding Contribution for Capacity Building.”  My recent books are One Currency for Bosnia: Creating the Central Bank of Bosnia and Herzegovina; My Travels in the Former Soviet Union; My Travels to Afghanistan; My Travels to Jerusalem; and My Travels to Baghdad. I have a BA in Economics from the UC Berkeley and a PhD in Economics from the University of Chicago. My dissertation committee was chaired by Milton Friedman and included Robert J. Gordon. I live in National Landing Va 22202

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