Tuesday, May 21, 2013

Should Palestine Switch from the Shekel to Bitcoin?

By Max Keiser

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).

Read the rest here.

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