Follow The Money

My Father always used to say "Follow the money and you will know the truth". For example, the question arises of how isolated Israel is today compared to thirty years ago. At the time Arab oil had the world by the throat and even Israel's closest friends did a disappearing act. All the African friendlies ended their relationship with the Zionist State, and Israel landed up doing business with Apartheid South Africa, warring Iran and Iraq, some parts of Europe (under different pseudonyms), and of course The USA. Israel was the pariah state of the world, only saved by constant US vetoes in the UN. Israel's balance of payments was deep in the red, Inflation was running in the hundreds, the banking system collapsed together with the stock market and foreign currency reserves were close to zero. In short, a poor, debt-ridden country with few sympathisers and many enemies. Adding to these woes, no raw materials, no land and no capital. Not pretty.

Let's look at Israel today. At least 20 votes at the UN, and many more abstentions. As the current trends in the world, towards electricity and away from oil, increase, so will oil as a weapon decrease in leverage.
Today Israel is a modern thriving country, surrounded by enemies who for the most, are well aware that Israel is too strong to be destroyed (Except for the looney tunes in Iran).

No inflation, Economic growth of 4.7% in the last quarter, one of the strongest currencies in the world, discovery of massive amounts of gas and huge potential oil reserves (Who would ever have thought?), A booming high-tech industry and a booming arms industry - Israel now exports more arms than it imports, Foreign Currency reserves of 64 billion USD....more than Canada's reserves (Believe it or not) and the list goes on and on.

Just recently the Turks have been making hostile noises in Israel's direction, so while Turkey dithers and tries to decide whether to be part of the West or join the fanatics, lo and behold, who turns up in Israel, but the Greek Prime Minister. Greece, with a history of anti - Israel rhetoric, apparently has concluded that its support of the arab world has led to nothing and now they are bankrupt. Discussions are well underway for the construction of an underwater gas pipeline from Israel to Greece for distribution to Europe. Ironically, Turkey was the original partner for this project. Like they say "Money talks and BS walks"!

Shana Tova and a prosperous new year to all
Harry