Comment on TIL a single 25kg bag of flour now costs $1000 in Gaza.

NateNate60@lemmy.world ⁨17⁩ ⁨hours⁩ ago

• destructdisc@lemmy.world ⁨17⁩ ⁨hours⁩ ago

  Gaza is extremely short on physical cash, which is ironically why merchants only accept physical cash. This has given rise to a middleman industry where Gazans have to wirelessly transfer money via the Bank of Palestine app to a “money exchanger” office who will give them physical cash in exchange, while taking a (now 45%) cut for themselves

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  • OmegaLemmy@discuss.online ⁨12⁩ ⁨hours⁩ ago

    I fucking hate capitalism

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  • NateNate60@lemmy.world ⁨6⁩ ⁨hours⁩ ago

    This seems strange to me. If everyone has accounts with the Bank of Palestine, then why did it turn into everyone demanding cash versus just paying each other with bank transfers through the Bank of Palestine?

    But seeing that the Israelis are now trying to just starve the Palestinians out of Gaza, this just sounds like inflation with extra steps.

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