Score Card

Three weeks ago, Israel detonated pagers and walkie-talkies in Syria and Lebanon that killed 37 people (including two children) and injured thousands. A week ago, Israel bombed Hezbollah headquarters in Beirut, killing its leader, Hassan Nasrallah, much of its senior leadership and thousands of Lebanese civilians. Israeli soldiers entered Lebanon on September 30 in a limited ground offensive against Hezbollah forces.

In retaliation Iran sent 200 or so missiles to Israel “targeting military installations and critical infrastructure.” While most were intercepted a few struck military airbases and killed one person.

Israel promises to retaliate for this vicious attack. “Donald Trump has said that Israel should ‘hit the nuclear first and worry about the rest later’ in response to an Iranian missile attack on Tuesday.” https://www.newsweek.com/donald-trump-says-israel-should-hit-irans-nuclear-first-1964268

Need I say more???

Collateral damage (deaths of innocent bystanders) is unavoidable in war. But Iran seems to recognize that taking some care to minimizing it is not only humane but also wise for not creating more enemies to fend off in the future. On Oct 7, 2023, Hamas killed about 1,200 Israelis in their attack from Gaza. In retaliation Israel has killed over 40,000 Palestinians according to the official reports of Hamas authorities many of whom were women and children. However, some aid works claim that the true number is much higher. Around 670 Palestinians, including 150 children, have been killed by Israelis in the occupied West Bank over this period.

According to Israel’s Finance Minister, Bezalel Smotrich, this is not carelessness on Israel’s part, but rather the deliberate policy of removing Palestinians (one way or another) from the River to the Sea. One way or the other, Israel is committing suicide. Anyone who cares about the future of Israel should demand an immediate end to this fighting. Anyone who cares about the standing of the U.S. in the world, and how our tax dollars are being spent, should demand the same.

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 View all posts by Warren Coats

One thought on “Score Card”

I care much less about the future of Israel, and much more about the standing of the U.S. — and even more about the plight of Palestainian and Lebanese innocents.