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Short answer
Let’s end the hypocrisy right here and now—Palestinians could have had a state already, but their leadership never wanted a 2-state solution, it wanted ALL OF IT, and that is why they call “from the river to the sea, Palestine will be free”. That’s the Jordan River to the Mediterranean Sea, meaning they don’t want Israel to exist at all.
Long answer
Geographically, the call talks about the Jordan River that is on the eastern side of Israel and the Mediterranean Sea, which is along the western side of Israel. The Palestinians could have had a state already, but their leaders never wanted a two-state solution, they wanted the entire area of land that is Israel. Basically, what this call means, is an ethnic cleansing of the current State of Israel, eradicating Jews and everything associated with Israel. Most would refer to it as a call for genocide.