A history of two destroyed currencies might well have precluded Israel from selling its own shekel bonds.  So, back at the turn of the 21st century, it seems to have invented a counterfeiting scheme to sell U.S. bonds to Americans.  It now issues bonds in America, payable in dollars, not shekels.  This is a follow-up story to Chuck Carlson’s ground breaking story, “Devaluation Risk of Shekel Bonds.”