Not Just A Bond: A Bond With Israel

Not Just A Bond: A Bond With Israel, published October 18, 2010 by Talpiot Press, is a historical account of the founding, growth and expansion of the Development Corporation for Israel/State of Israel Bonds operation, which today is a global enterprise with cumulative worldwide sales exceeding $32.4 billion.

In his foreword to the book, President Shimon Peres calls the creation of Israel Bonds “a vital chapter in Israel’s history.”

Authors

The book, commemorating the 60th anniversary of the founding of Israel Bonds, was authored by husband and wife writing team Deborah and Gerald Strober. The Strobers, who have collaborated on nine previous occasions, conducted dozens of interviews in preparation for the book.

Subject

Not Just A Bond: A Bond With Israel chronicles the development of the Bonds organization, starting with its uncertain beginnings at a September, 1950 conference convened by Prime Minister David Ben-Gurion at Jerusalem’s King David Hotel. At the time, write the Strobers, there was considerable skepticism regarding the viability of creating an organization to facilitate the sale of Israeli government-issued bonds, noting that “terrible arguments” took place before agreement was ultimately reached.

The book explores the early stages and subsequent growth of the Bonds campaign, detailing how it expanded across the United States and into Canada, Latin America and Europe. It also examines non-Jewish sources of support such as organized labor and states and municipalities, which collectively have invested hundreds of millions of dollars in Israel bonds.

Historic and Notable Personalities

Notable public figures who played a significant role in the development of Israel Bonds are featured throughout the book. Israelis include Ben-Gurion, Golda Meir[1], Yitzhak Rabin, Menachem Begin and Shimon Peres, while Harry Truman, Eleanor Roosevelt and Albert Einstein are among the well-known Americans shown lending support to the Bonds effort in the U.S.

Not Just A Bond: A Bond With Israel highlights the many entertainment luminaries who made appearances on behalf of Israel Bonds. The list encompasses a who’s who of singers, actors and comedians: Frank Sinatra, Tony Bennett, Sammy Davis, Jr., Gene Kelly, Elizabeth Taylor, Edward G. Robinson, Milton Berle and Jerry Lewis and many more.

Also discussed are the many members of the American Jewish community who played an indispensable role in ensuring the success of the new enterprise, together with subsequent generations who built on the organization’s achievements. Prominently featured is Sam Rothberg a legendary leader of the Jewish community who, the Strobers note, was “a titan of Israel Bonds.”

Acclaim for the Bonds Organization

The book states that the Bonds organization has been widely acclaimed for cost-effectiveness and dependability. In particular, it cites a Bank of Israel study: “Israel Bonds is unique to the State of Israel, and no other country has a similar organization. During years when the Israeli government had difficulty borrowing large amounts of money abroad, Israel Bonds proved itself as an organization that reacts rapidly to an increase in the government’s foreign exchange requirements.” [2]