Custom Fields help!!!

I have written a code which generates a within the custom field where i type in IMAGE and type in teh url. It will show up a thumbnail in a specific place. Now in the code it says that if a thumbnail does not exists, it automatically gives it a default thumbnail.

What i want to achieve is, i want another block in a custom field saying if it says “WHATEVER” or something, it will hide everything including thumbnails and keep the content.

Can someone help, this is the thumbnail code..

<?php
$image = get_post_meta($post->ID,"Image",true);
if ( !empty($image) ) { ?>
     <img src="<?php echo $image; ?>" alt="thumbnail" style="float: left;margin:  0.9em 0.5em 0.5em 0.1em; border: 2px solid #B3B3B3; width: 150px; height: 150px;" /><?php
} else { ?>
     <img src="http://*****.com/blog/wp-content/uploads/no-thumb.png" alt="default thumbnail" style="float: left; margin:  0.9em 0.5em 0.5em 0.1em; border: 2px solid #B3B3B3; width: 150px; height: 150px;" /><?php
} ?>

<?php the_content('<span class="more-link">'.__('More…', 'plaintxtblog').'</span>') ?>