Incidentally, I think racism as a term for subordinating one people to another rather than just a synonym for racial bigotry is useful. I recall the days of formal segregation many white people, bearing no obvious ill will to black folk, held the assumption they have theirs, just as we have ours. But as Marshall pointed out, the act of segregation is inherently unequal.
That being said, I think when you look at the Israeli people it's hilarious to call Zionism a form of white supremacy.