Letter to the Albuquerque Journal Editor, Vicki Johnson, published 5/17/2007
Israel's income higher than ours
Why is New Mexico investing $5 million in a foreign government? Today Gov. Richardson's picture is on www.israelbonds.com holding a check from the State of New Mexico, for a total of $15 million, payable to the State of Israel. The April 20th announcement from the Office of the Governor proclaims Richardson is "pleased this purchase will help Israel ... better the lives of its citizens".
Is Gov. Richardson more interested in helping Israel than in investing in the economy of New Mexico? Israel's per capita income is higher than that of New Mexico! Doesn't Gov. Richardson know that Israel's occupation of Palestine has been likened to apartheid, by Desmond Tutu, Nelson Mandela, former Pres. Jimmy Carter, and human rights advocates? If New Mexico has money to spare, it should be invested locally or nationally, and recipients should be in compliance with international law.
Letter to the Albuquerque Journal Editor, Miriam Adams, published 5/17/2007
Israel Bonds? Invest it locally
According to a tiny 4/28 Journal Metro article, the NMSIC (State Investment Council) has again given millions to buy Israel Bonds. Our state faces many challenges which might be ameliorated if such largesse were applied locally. After all, Israel already receives an annual federal taxpayer gift of $3Billion, while hundreds of millions more are invested in Israel through other states' retirement and pension funds. Further, hundreds of millions have been invested in Israel through AFL CIO union pension funds for decades.
I would never oppose foreign aid to the needy, but Israel with the
4th mightiest military in the world,
and one of the highest per capita incomes
already receives more than all of sub-Saharan Africa each year.
The nice color photo of Gov.Richardson on the
Israel Bond website shows him giving
the oversized NM check for $15 MILLION to the
Israel Bond’s Chair, yet there is no counter photo
to reveal Israel as a violator of US Arms export laws,
international laws, Geneva Convention protocols and
Human Rights laws as cited by the International Criminal Court at the Hague,
numerous United Nations human rights reports,
Amnesty International reports, Human Rights Watch investigations,
and B'Tselem an Israeli NGO which acknowledges the racist
lawlessness of the Israeli government.
There is no avoiding that NM’s SIC and Gov Richardson have acted
irresponsibly and outside the rule of law by repeatedly giving our
dollars to subsidize ethnic cleansing, collective punishment and an
apartheid "worse than South Africa's" according to Bishop Tutu,
Nelson Mandela and Jimmy Carter’s words about
Israeli actions which crush lives and aspirations of peace
for other generations of Palestinians and Israelis.
At some point, soon I hope, Richardson and others who seek
elective office must take a stand and stop all such pay-offs,
investments and high stakes financing which sustain Israel’s
violent apartheid government.
Letter to the Albuquerque Journal Editor, Lora Lucero, published 5/17/2007
U.S. shouldn't invest in Israel
Why is Governor Richardson investing $15 million of state monies in Israel Bonds given that country's disregard for international law? (See Press Release April 20, 2007)
The International Court of Justice has declared the Israeli settlements and the construction of the Wall built strategically to grab more Palestinian lands are illegal. In January 2007, a report to the U.N. Human Rights Council found that nearly 40 per cent of the land occupied by settlements in the West Bank is privately
owned by Palestinians. For decades, the American taxpayer has contributed to Israel's policies at the rate of $14 million - $15 million per day, while contributing virtually nothing to the Palestinians whose economy, health, and lives have been devastated by these ghastly policies.
As a Presidential candidate, Richardson should be a real leader and call for a complete divestment of U.S. funding in Israel. You wouldn't give your naughty child his allowance. Why are you giving Israel $15 million?
May 2007: A woman with Jewish and Palestinian relatives asking people
what they think of the investment at the
Bernalillo County Democratic Party BBQ
Rebuttals
Letter to the Albuquerque Journal Editor, Harold Albert,
(State chairman, Israel Bonds) published 5/23/2007
Israel Bonds Sound
Recent letters to the editor contained submissions decrying the state's investment in Israel bonds. These letters contained factually inaccurate information, stereotypes perpetrated by opponents of Israel, and a lack of understanding of the benefits Israel offers to the citizens of New Mexico.
Characterizing Israel bonds as "foreign aid" is simply wrong. Israel bonds are not a grant to Israel— they are an investment that is repaid with interest. Israel bonds are highly regarded securities that have been purchased the world over. In the U.S., more than 60 state and municipal pension and treasury funds have placed these bonds in their portfolios. Most invest substantially more than New Mexico. ...
One letter refers to the wall built to "grab" Palestinian lands. In truth, the much-maligned security fence never existed until Palestinians took it upon themselves to engage in rampant terrorism— the wholesale murder and mutilation of Israeli civilians. The U.S. builds fences to keep out illegal immigrants; in Israel, the fence is a matter of life or death.
The letters refer to Israel as an apartheid state which has, unfortunately, become an insidious way of disparaging Israel. The onslaught of Palestinian suicide bombings was in response to Israel's offer of a Palestinian state with East Jerusalem as its capital— everything the Palestinians claimed they wanted. Prior to the terror outbreak, there were no barriers or checkpoints. ...
Finally, the letters uniformly suggest New Mexico should not have purchased these bonds. What the letters fail to acknowledge is that New Mexico and Gov. Bill Richardson have engaged in an aggressive effort to trade with Middle East countries. By reopening a trade office in Israel, through the Office of International Trade, our New Mexico Economic Development Department, joined with Oklahoma, Georgia and Pennsylvania in utilizing a consulting firm to assist small-to-medium sized enterprises in selling their products and services throughout the Middle East. ...
Israel is New Mexico's largest trading partner in the Middle East. In 2006, New Mexico had exported almost $37 million of our products and services to Israel. In 2007 that figure is anticipated to be substantially higher. All of New Mexico benefits from higher exports.
Far from being misguided, New Mexico's acquisition of Israel bonds is a sound investment in support of one of this country's most important democratic allies. ...
Letter to the Albuquerque Journal Editor, Sam Sokolove, (Executive director, Jewish Federation of New Mexico), published 5/24/2007
Bonds are no gift,
Israel no villain
RE: "U.S. Shouldn't Invest in Israel."
The critics railing against New Mexico's investment in Israel Bonds (Outlook, May 17) may be unaware of some basic facts:
Bonds are not a gift. They are an investment that will return capital to state coffers to pay the pensions and other programs that will benefit the people of New Mexico. Yes, Israel has "one of the highest per-capita incomes" in the world. And because of this booming economy, bond purchase from Israel becomes an even smarter investment.
As for references to U.N. condemnations of Israel, the United Nations Human Rights Council has been repeatedly discredited as unfairly biased against Israel and willfully silent on human rights abominations such as the situation in Darfur. Tellingly, on May 11, 2007, Zimbabwe— one of the world's worst human rights abusers— was chosen to head the U.N. Commission on Sustainable Development.
The bottom line is that Israel is an utterly unique economic partner for New Mexico in the Middle East: an open, democratic society that also offers a great return for investors.
Letter to the Albuquerque Journal Editor, Paul Greenbaum, published 5/31/2007
Bonds are a loan, not a gift to Israel
I read with interest the three letters in the Thursday, May 17 Business Outlook inspired by the small item in the Journal noting the N.M. State Investment Council invested in State of Israel bonds. Although this short item mentioned no economic or political news, the three letters used this story as a platform for a diatribe against Israel.
There was no mention of the economic benefit to New Mexico of the yield/duration of this investment. The writers were more interested in claiming that the money is a "gift" to Israel or that Israel acts as an outcast state.
It should be noted that New Mexico is receiving the market interest rate for these funds. The $15 million is truly a loan; Israel has NEVER defaulted on a loan payment in its 59-year history.
The letters note international organizations critical of Israel. However, these groups are dominated by anti-Israel/pro-Palestinian members. The letters mention the defensive separation wall, settlements in the West Bank, and the separation of the Israel and Palestinian communities but conveniently do not mention the reason for these measures: kidnappings as well as suicide bombers and rocket attacks in civilian areas.
It is illogical to equate democratic Israel with terrorist Palestinians.
The present Palestinian government is led by a group, Hamas, which refuses to recognize Israel, renounce violence, abide by accords signed by previous Palestinian leaders, or discard their weapons. We must recall that this Palestinian violence began years before Israel's birth. There were massacres of Jews, and the leading Palestinian cleric of the time, the Grand Mufti of Jerusalem, Haj Amen al-Husseini, was a strong and devoted follower of Hitler.
Not only is Israel a freely elected democracy, but it has a large and advanced scientific community, renowned hospitals and orchestras. Israel immediately sends aid when there is a global tragedy such as a sunami, earthquake or starvation.
Only those who are misinformed or narrow-minded would equate Israel with a terrorist society. What defensive measures would the 5/17 letter writers suggest if a rogue nation used suicide bombs and rockets to attack Albuquerque?
What Can We Do?
Write letters to the editor, the NM state government and
Richardson's presidential campaign,
and let your local representatives know your position on this investment.
