Figure 1: U.S. Military Aid to Israel from October 7, 2023 to September 2024 (in millions of dollars)
Foreign Military Financing $6,8009
Missile Defense $4,500
Missile Defense (Iron Beam) $1,200
Enhancing Artillery Production $1,000
Replenishing Arms Delivered to Israel from U.S. Stocks $4,400
TOTAL $17.9 billion
Israel has secured an $8.7 billion aid package from the United States to support its ongoing military efforts and to maintain a qualitative military edge in the region, the Defense Ministry announces in a statement.
The package includes $3.5 billion for essential wartime procurement, which has already been received and earmarked for critical military purchases, and $5.2 billion designated for air defense systems including the Iron Dome anti-missile system, David’s Sling, and an advanced laser system.
“There are many tools that are available to the United States, not simply harsh talk, which seems to have gotten us nowhere. But is America ready to do that?”
“I’m not too optimistic,” he said, answering his own question.
On Britain, Prince Turki said the country had “a special responsibility for what is happening in Palestine” due to its role in the “ill-begotten Balfour Declaration in 1917”.
While the U.S. has waged war in the name of spreading democracy, it blatantly refuses to hold Israel accountable for its deeply undemocratic actions and violations of international law in Gaza and the West Bank, including its treatment of prisoners like my cousin. There are many days when I wake up and I feel like I’m in the twilight zone.
As voting continues, the Senate votes 72 to 13 in favor of advancing the package of four bills passed by the House, more than the 60 needed to pave the way for a vote on final passage as soon as Tuesday or Wednesday.
The legislation will send $17 billion in defense aid to Israel, and some $9 billion to provide humanitarian relief to people in Gaza, as well as other war-torn regions (the final decision on allocation was up to the White House, with analysts expecting roughly $2 billion would go to Gaza).
The long-stalled assistance would supply roughly $26 billion for Israel, $61 billion for Ukraine and $8 billion for the Indo-Pacific. A fourth bill being voted on Saturday includes measures to ban TikTok, sanction Iran and seize Russian assets to help fund Ukraine.
The White House said it „strongly supports“ the legislation, which is expected to pass with bipartisan backing from Democrats and Republicans.
(17.02.2024)
A bill put forward by House Republicans in the US Congress would give Israel $26.38 billion in military aid, according to a text released by the House Appropriations Committee.
(today)
On Tuesday, Republican leaders from four US House of Representatives national security committees and one subcommittee released a statement endorsing Speaker Mike Johnson‘s proposal to advance legislation this week, offering security assistance to Ukraine, Israel, and Taiwan.
„Speaker Johnson has produced a plan that will boost US national security interests in Europe, the Middle East, and the Indo-Pacific,“ the leaders of the House Armed Services, Foreign Affairs, Intelligence, Appropriations and Defense Appropriations panels said in a statement.
Now, a new poll by the New York Times/ Siena College has found that nearly 75 percent of a sample of young voters aged between 18 and 29 disapprove of how the Democrat is handling the conflict. The same proportion believe Israel isn‘t doing enough to prevent civilian casualties in Gaza and 44 percent said Israel should end its military campaign even if Hamas is not defeated, to 39 percent who said it should continue.
It also found that 27 percent of young people sympathize with Israel while 47 percent sympathize with Palestinians.
A Quinnipiac University poll released on Wednesday indicates that two months after Hamas‘s October 7 attack on Israel, American voters are divided on whether the United States should send more military aid to Israel, with 45 percent of respondents saying yes compared to 46 percent who are opposed.
(29 Sep. 2023)
Later in the day, the Secretary General opened the new NATO accelerator site “Deep Tech Lab – Quantum” together with the Danish Minister of Defence, Troels Lund Poulsen; the Minister for Industry, Business and Financial Affairs, Morten Bødskov; and the Minister of Higher Education and Science, Christina Egelund. The Lab will help start-ups from across the Alliance commercialise quantum-enabled solutions, as part of NATO’s new Defence Innovation Accelerator for the North Atlantic (DIANA).
DIANA consists of a network of test centers and accelerator sites across NATO countries, where innovators develop new technologies to solve pressing security challenges. The Deep Tech Lab – Quantum in Copenhagen is one of five pilot accelerator sites launched in 2023.
( SEPTEMBER 3, 2023)
The F-35 is considered crucial in the MABAM “war between wars” against Iranian proxies in Syria as well as in the event that the IDf would need to eventually strike Iran’s nuclear program.
(July 3, 2023)
Israel will move to acquire a third squadron of F-35A fighters, augmenting the fleet of 50 ‘Adir’ platforms currently planned to enter service with the Israeli Air Force (IAF) with a further 25 aircraft, in a multi-billion-dollar deal financed by US aid.
“So our commitments have, I think, $38 billion in aid, military support, etc. going in through 2028,” he noted, referring to the Memorandum of Understanding signed between the two countries in 2016 pledging Israel $3.8 billion a year from 2019 through 2028. “I want to get Israel to the place where it is negotiated back into the infrastructure of the rest of the Middle East. We should not be worried about holding one nation or one region hostage over one particular question relating to Palestine,” he said.
Recently, top Republican Sen. Lindsey Graham, after stops in Riyadh and Jerusalem and voicing strong support for Saudi-Israel normalization, said that he would support the Biden administration plan to meet Saudi prerequisites, culminating in Saudi Arabia formally acknowledging Israel.
Beyond a defense pact, the Saudis also have raised requests with the US for civilian nuclear capabilities, advanced weaponry, and beyond. Israeli agreement would be crucial for these components. Historically, Israel has been wary, particularly regarding the nuclear aspect
House Minority Leader Hakeem Jeffries (D-NY) told Israeli Prime Minister Benjamin Netanyahu during a meeting in Jerusalem on Monday that he hoped the current government would seek “a broad consensus across the ideological spectrum” before any further changes are made relating to its plans to overhaul the country’s judiciary.
US House of Representatives Democratic leader Hakeem Jeffries said on Monday in Jerusalem that judicial reform should have no bearing on American military support for Israel.
Speaking to Israeli journalists about the divisive domestic debate regarding the ruling coalition‘s legislative initiative, the New York lawmaker expressed the importance of maintaining Israel‘s qualitative military edge „regardless of where Israel lands in terms of the judicial reform effort.“
Among its most vocal proponents on Capitol Hill is Senator Bernie Sanders, who has recently even submitted an amendment pertaining to this issue. Its chances of being passed are virtually non-existent, but Israel’s embassy in Washington and the pro-Israel lobby will tensely follow it to see whether support for this idea is growing and reaching other parts of the Democratic Party.
According to a quarterly report by the Bank on its asset purchase facility – the vehicle it uses to hoover up UK debt on financial markets – losses from bond purchases are poised to balloon by the early 2030s.
After the 2008 financial crisis, the Bank of England started purchasing UK government and corporate debt from financial institutions in an effort to stimulate the economy by pushing down yields.
(25.07.2023)
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Meanwhile, US Defense Secretary Lloyd Austin emphasized to Defense Minister Yoav Gallant in a phone call that “broad consensus through political dialogue” is a “critical element of a resilient democracy.”
In reality, it’s not so much aid to Israel as it is a backdoor subsidy to American military contractors, which is one reason some Israelis are cool to it.
(…)
“Israel’s economy is strong enough that it does not need aid; security assistance distorts Israel’s economy and creates a false sense of dependency,” Kurtzer said in an email. “Aid provides the U.S. with no leverage or influence over Israeli decisions to use force; because we sit by quietly while Israel pursues policies we oppose, we are seen as ‘enablers’ of Israel’s occupation.”
The two former U.S. ambassadors to Israel claim that the aid provides ‚no leverage or influence‘ over Israeli decisions, and cause U.S. to seem like ‘enablers’ of Israel’s occupation
„It has become a disturbing feature of some recent opinions to criticize the decisions with which they disagree as going beyond the proper role of the judiciary,“ Roberts wrote. He said the majority came to its decision by adhering to court precedent „old and new“ that „requires that Congress speak clearly before a Department Secretary can unilaterally alter large sections of the American economy.“
Kagan in a scorching dissent argued that the court itself overstepped its bounds and by doing so is barreling to a future where it is the „maker of national policy“ by failing to defer to President Joe Biden and Congress to set the national agenda.
„That is no proper role for a court,“ Kagan wrote. „And it is a danger to a democratic order.“ (…)
The chief justice agreed with Kagan that the case is about a branch of government overstepping its authority, but Roberts remained steadfast in his view that it was the executive branch.
(June 30, 2023)
Senators Chuck Schumer (D-NY) and Elizabeth Warren (D-MA) want President Joe Biden to forgive $50,000 in federal student loans per borrower. They claim that he can do this unilaterally through executive order.
(…)
The $1.9 trillion COVID-19 relief plan proposed by President Biden does not include any student loan forgiveness.
Ultimately the problem stems from an over-financialized economy. Finance is supposed to serve production, not replace it. We need to reinvest in the productive base: infrastructure, labor, health, social, and natural capital. #Kennedy24
There’s a banking crisis, which regulatory officials and big American banks very much want you to believe is ending after decisive action over the weekend to take over and swallow up another failing bank.
And there’s a debt crisis, which is becoming more urgent as the US approaches the “X-date” – when it would default – and on which opposing lawmakers aren’t currently talking to each other.
Sen. Elizabeth Warren (D-Mass.), a fierce critic of big banks, emphasized that the FDIC bailout of First Republic once again puts taxpayer money on the line. That’s after $25 billion was used from the Treasury’s Exchange Stabilization Fund to backstop a loan for the rescue of depositors at Silicon Valley Bank in March.
(May 1, 2023)
The government’s takeover and sale of First Republic comes roughly eight weeks after the government took control of Silicon Valley Bank and Signature Bank, whose failures sent a shock wave through the industry and raised fears that other regional banks were at risk of similar runs on deposits.
(April 29, 2023)
Separately, the Wall Street Journal reported on Friday that JPMorgan and PNC are vying to buy First Republic following its seizure by the government, which could come as soon as this weekend.
If the San Francisco-based lender falls into receivership, it would be the third U.S. bank to collapse since March. First Republic said this week its deposits had slumped by more than $100 billion in the first quarter.
(Mar 8, 2023)
In January, its earnings report revealed that it lost a billion dollars in one quarter after its customers withdrew $8.1 billion. Then, on March 1st, it filed a document saying its financials were even worse than the quarterly report had shown.
(January 19, 2023)
The FHLB system was created under Herbert Hoover in 1932 with the primary goal of making homeownership more affordable for the average American. (…)
While FHLBs are privately capitalized, they enjoy a special statutory lien priority which can place them ahead of other parties, including the FDIC, in bankruptcy proceedings. Thus, if Silvergate were to join the spate of major crypto industry entities that filed bankruptcy recently, it could leave the FDIC holding the (empty) bag, responsible for paying out deposit insurance on Silvergate’s FDIC insured accounts while the FHLB is first in line for any assets remaining.
(April 4, 2023)
The insider sales went largely unnoticed because Signature Bank, unlike most other S&P 500 companies, filed documents with the Federal Deposit Insurance Corporation instead of the Securities and Exchange Commission. (…)
The bank collapsed and was taken over by federal regulators last month, in the wake of Silicon Valley Bank’s collapse.
(April 2, 2023)
The idea that conservatives like the market and not the government is unadulterated crap. It is a myth that they use to conceal the ways they have rigged the market to make income flow upward. Unfortunately, virtually the entire left has agreed to go along with this absurd myth. Moments like the bailout of the rich depositors at SVB make the truth about conservatives and the market apparent to all. (And yes, this is the point of Rigged [it’s free].)
(Mar 10, 2023)
Silicon Valley’s failure came with incredible speed, with some industry analysts on Friday suggesting it was a good company and still likely a wise investment. Silicon Valley executives were looking to raise capital early Friday or find additional investors in the company. But trading in its shares had been halted before the opening bell due to extreme volatility.
Shortly before noon eastern time, the Federal Deposit Insurance Corporation announced it was shuttering the bank. Notably, the FDIC did not wait until the close of business to seize the bank, as is typical in an orderly wind down of a financial institution.
(…)
As such, we call on your administration to promptly:
– Ensure U.S. taxpayer funds do not support projects in illegal settlements;
– Determine whether U.S.-origin defense articles have been used in violation of existing U.S. laws, including for a purpose not authorized by Section 4 of the Arms Export Control Act (22 U.S.C. § 2754) or to commit or support gross violations of human rights
by the Israeli government in violation of Section 502B(a)(2) of the Foreign Assistance Act (22 U.S.C. § 2304(a)(2)) and the U.S. „Leahy Laws,“ Section 620M of the Foreign Assistance Act (22 U.S.C. § 2378d and 10 U.S.C. § 362).
Furthermore, we call on your administration to ensure that all future foreign assistance to Israel, including weapons and equipment, is not used in support of gross violations of human rights, including by strengthening end-use monitoring and financial tracking. We ask that you respond with a detailed plan as to how the administration plans to achieve that goal.
The progressive lawmakers are further urging the Biden administration to ensure U.S. taxpayer funds are not supporting Israeli settlements projects, and to determine whether U.S. military aid is in violation of the Arms Export Control Act or the so-called “Leahy Laws.”
The Arms Export and Controls Act stipulates that U.S. weapons are sold only for legitimate self-defense, while the Leahy Law prohibits U.S. funding from being used to equip or train foreign military forces suspected of human rights abuses or war crimes.
(Sept. 13, 2016)
The package represents a major commitment to Israel’s security in the waning months of Mr. Obama’s presidency after years of fractious relations with Mr. Netanyahu over issues like the Iran nuclear agreement. Mr. Netanyahu agreed to several concessions to cement the deal rather than gamble on winning better terms from the next president.
The package will provide an average of $3.8 billion a year over the next decade to Israel, …