A few days ago, a new initiative promoted by Prime Minister Netanyahu was announced – removing 200 shekel bills from circulation, as a first step to abolish cash altogether within a few years.
The official excuse? fighting financial crimes and black money in the Arab society.
As expected, this move – identical to India’s move in 2016 – will cause further destabilisation of Israel’s economy and of its citizens’ physical and mental states. A derivative of this economical shake up will ripple into Gaza who is relying on the Israeli shekel as its currency, and clearly, its population is heavily reliant on cash.
So let’s break it down.
Abolishing 200 shekel notes
The value of the Israeli 200 shekel bills surpasses 100 billion shekels, and make up nearly 80% of the bank notes held by the public. In recent attempts to smear cash holders, it was reported that “most of the 200 shekel bills are not used for purchases, but for the accumulation of black capital.” A team of
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