U.S. states, municipalities, and public pension funds own at least $1.6 billion worth of Israel bonds combined.
As Israel continues its relentless bombing of Palestinians, raising the death toll in Gaza to over 27,000 people, state and local treasuries across the United States are investing hundreds of millions in the state of Israel by purchasing Israeli bonds. Israel Bonds, also known as the Development Corporation for Israel, raised a record-setting $2 billion in bond sales in 2023, with $1 billion raised since October 7th, as Israel bombed hospitals, destroyed essential infrastructure for water, medicine, fuel, and electricity, and used starvation of civilians as a weapon of war.
Activists and some elected officials in the U.S. have been calling for an end to monetary aid to the Israeli government and purchases from the weapons manufacturers enabling Israel’s assault on Gaza, but few have directed their attention to the U.S. investments being made in Israel through the purchase of Israel bonds.
This post explains how Israel Bonds work, highlights the institutional investors who have recently bought Israel bonds, and shares some history of the human rights activists who have been calling on institutions to divest from Israel bonds.
yes the Federal Government does have ‘infinite’ money but not the states/municipalities.
in a roundabout way ig the Federal Government is paying the states on Israeli bonds considering all the military aid.
Dollar recycling
Correct. The federal government can print money for states & municipalities, though. Actually it does do that, but we’re to believe the money comes from federal taxes rather than the money printer.