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Free The Hostages! Bring Them Home!
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Jan 8, 2025
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After a year in which it seems like nothing is working to get Hamas to free the hostages, here's a creative idea from Eyal Ofer, an expert on Hamas's money, in brief: Hamas has about $1 billion in 200 shekel bills. Israel should cancel the 200 shekel bill (allowing Israelis to… https://t.co/ZzJCu4SR2Q
— Lahav Harkov 🎗️ (@LahavHarkov) January 8, 2025
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There is precedent for that. During the war, the Germans tried to flood the US with counterfeit 2 dollar bills so the US cancelled that one.
ReplyDeleteWhat would it cost to the economy to recall the 200 shekel bill?
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ReplyDeleteHow to Free the Hostages: An Out-of-the-Box Idea
Hamas is currently amassing substantial wealth—primarily in cash. Estimates suggest that Hamas has accumulated approximately 1 billion dollars (4 billion shekels) in worn-out 200-shekel bills. We've seen instances where the IDF managed to seize piles of these 200-shekel notes held in Hamas safes. However, the bulk of the billions remains in their possession. All Israel needs to do is clearly state to Hamas:
"You have something that belongs to us, and you have an obligation of ours. We propose an exchange: the redemption of captives—a time-honored Jewish value."
Our obligation is to replace your deteriorating billions of shekels with new bills. But we will not do this until the hostages are returned.
To demonstrate that Israel is serious, an immediate action is required: invalidate the existing 200-shekel notes. Israeli citizens will gladly deposit their cash in banks to exchange for new bills when they understand this is a necessary step to bring the hostages home. In the meantime, Israel must refuse to accept any 200-shekel bills from Gaza.
The bills in Hamas' hands are worthless. They are merely paper printed by the Bank of Israel. The only thing that gives this wealth value is Israel's commitment, implemented by the Bank of Israel, to honor these notes. Public pressure on the Bank of Israel is essential to resolve the hostage saga:
Until the hostages are returned, Israel should invalidate the 200-shekel bills, replace the 100-shekel bills, and with each passing day, reduce the amount of old bills it is willing to accept from Gaza. Starting today: If all the hostages are returned immediately, we will be prepared to accept 4 billion shekels in worn-out bills from Gaza. Each week that passes, this commitment will be reduced by 10%.
Additionally, a specific price can be set for each live hostage: we will accept 100 million shekels in worn bills from Gaza per hostage returned.
This is the real threat to Hamas. The question is whether the Israeli government and the Bank of Israel have the courage and wisdom to use it.