Rune Østgård on Nostr: Mainstream media's coverage of the conflict between Israel and Palestine ignore the ...

Mainstream media's coverage of the conflict between Israel and Palestine ignore the enormous importance of financial imperialism.

Before we dive into that, let's begin with some fundamentals:

Civilization scales in layers.

Layer zero is the belief system.

Layer one is the monetary system.

Everything else is layered upon the monetary system.

In practice this means that a sound monetary system promotes peace and prosperity, while an unsound monetary system promotes war and economic destruction.

So, which monetary system is the relationship between Israel and Palestine built upon?

Many Norwegians take pride in the Norwegian government's involvement in the peace process between Israel and Palestine which took place in the 1990s.

When we look at the monetary system they made the parties agree too, there is no reason to think highly about it.

On the contrary.

It's a disastrous arrangement.

It fits US interests, with the privilege they have with the global reserve currency - the dollar standard, like a glove.

No wonder why Bill Clinton's smiles happily in the picture below.

And it was perfect if Israel wanted to continue to subjugate the Palestinian people.

The Protocol on Economic Relations, also called the Paris Protocol 1994 and the Oslo II Accord of 1995, decided that the Israeli shekel should be used in the Palestinian territories as a circulating currency that had to be accepted by the Palestinian Authority and by all its institutions, local authorities and banks.

The Palestinians were not allowed to independently introduce a separate Palestinian currency.

This meant that Palestine weren't allowed to have their own monetary system.

Instead, the Israeli governments and Israeli banks were given the privilege of exporting their inflation to Palestine by increasing the supply of shekel.

The Israelis could literally print money out of nothing, and demand that the Palestinians send them goods and services that they had to work to produce in return.

Which is outright financial slavery.

The Israelis made good use of this opportunity.

In fact:

The Israelis have made massive use of it.

Israel has more than 14 x'ed it's money supply since 1994.

It makes it impossible for Palestinians to save.

The fruits of their labor are extracted into the coffers of Israel's government and into the pockets of super wealthy people living in Israel.

While the people of Israel and the rest of the developed world have access to securities markets and can invest in real estate to get some protection against inflation, the Palestinians largely don't have this option.

Which means that they are victims of an all out economic war.

Every.

Single.

Day.

The fruits of their labor just disappear.

Some say inflation is "theft" and "a hidden tax".

I call it fraud.

What we can agree upon is that it's a highly efficient wealth extraction device.

The exorbitant privilege of producing money out of nothingness is also the most powerful political tool you can have, more powerful than any weapon.

Let me be very clear about the following:

The monetary system that Norwegian bureaucrats and politicians helped set up in Palestine doesn't provide any excuse for terrorism.

But it's an important part of the explanation of why Gaza attracts and breeds extremism.

They have a monetary system that give them NO HOPE at all.

Everything the Palestinians try to save finds it's way to the Israelis by the means of manipulation of the supply of the shekel.

Destitute Palestinians sit in Gaza and watch the people of Israeli become rich at their expense.

It's an arrangement that fuels hate and resentment.

It must end immediately.