This is a topic that's been popping up in a number of threads, so we might as well gather all these conversations in one place instead of side-tracking other threads.
Two things to start: First, it would be helpful for some people to catch up on the history of the conflict. The NY times ran a fairly detailed piece on it recently if you need to get up to speed.
Secondly, actual hate speech will be dealt with by mods as it has always been (post removal, suspension, banning, as each case may require). However, being critical of the actions of Palestinians or Israelis is not the same thing as being antisemitic or islamophobic. Israel and Palestine do not represent all jews or muslims. Nor do the acts of violence on either side represent all Israelis or Palestinians as a people. There are real issues to be resolved, but we won't get there by defensively silencing each other.