Should Palestine switch from the shekel to Bitcoin?
The money that circulates most in the Palestinian Authority (PA) is the Israeli new shekel; guided by an interest rate policy set monthly by the Bank of Israel, which dictates Palestinian finances.
Palestine has tried for decades to establish independence, but Israel has not been willing to give up its colony, so the occupation continues.
But for the first time in history, an emerging country like Palestine has the ability to secede from its occupying overlords by adopting its own cryptocurrency: Bitcoin. Not a shot needs to be fired. No UN votes are needed. No global peace talks. Just Bitcoin for the win.
Pluses include; money can be sent in and out of Palestine completely unmolested by the international bankers who have conspired with Israel to keep Palestinians behind Israel’s apartheid wall; both physical and monetary.
Remember it was an international boycott of UK's Barclays bank that ultimately brought down the apartheid regime in South Africa. Here we have a slightly different situation in that Barclays bank is now part of a government controlled system that relies on rigging Libor, energy, credit default swaps and precious metals markets and there are no exceptions to this rule by manipulation, so mounting a boycott is virtually impossible. Not only has Barclays become 'too big to fail' but it has also become too big to hold accountable for international human rights abuses. (same for the other three big UK banks and the biggest banks in the US too).
And we can't forget the Big Four accounting firms along with their army of lawyers and bankers who suppress millions with their vicious monetary dictatorships and market manipulation schemes - that force up the price of food and energy - but without raising the cost of credit for insiders (or wages for outsiders) who can borrow virtually unlimited amounts of cash at near zero (and in some cases negative) interest rates - providing capital to build slave labor camps anywhere in the world like in Palestine (and buy weapons) for virtually no cost; not to mention occupying strategic assets like water and energy in neighbors (like Israel occupying Palestine: the real reason).
Bitcoin, like the spiritual leaders who have come before it in
the Middle-Eastern desert, is a miraculous gift capable of
transforming an oppressed, forgotten people. The Palestinian
economy is a multi-billion dollar economy that unfortunately
benefits mostly outsiders. But if Bitcoin were adopted as the
official currency, Palestinians would be able to shape their own
economic destiny and in so doing their sovereign destiny.
In very short order, Palestine would have the soundest currency
in the world, as coveted and as stable as gold and silver. As
various paper ‘fiat’ money continues to get debased in countries
around the world, Palestine’s currency would maintain its
purchasing power. The living standards of Palestinians would
increase to the point where the Palestinian bitcoin currency would
put the Israeli shekel to shame.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.