|Cartoon satirizing the disunity of the Black Diaspora
and their stalled ability to wrench themselves free from
the hideous evil of anti-Black systemic racism.
Matthew James - Is the “Bank Black” movement still in full gear or was it just a fad?
Muhammad Rasheed - It would seem to be a wonderful idea on the surface—especially for those learned in the history and economic successes of the Tulsa, OK “Black Wall Street” community—but I really can’t imagine it being more than just a fad. It’s true that the basic concept of a “Black bank” is a vital component towards the African-American achieving the long-elusive Economic Inclusion they need to be fully enfranchised U.S. Citizens, but here are the two immediate hurdles I’ve identified that would prevent the ideals of the “Bank Black” movement from becoming a reality within the current system:
- These banks aren’t “owned” by Black people. They are actually cells of the Federal Reserve banking cartel, and function according to their rules and laws as the finance arm of the West’s anti-Black systemic racism. The Black people over them are allowed to manage them only by making sure they are strictly aligned to the parent cartel’s goals.
- In order to work for us in the way we excitedly (and naively) imagine an “OMG! A Bank Black movement!” to work, the Black “owners” would need to come together and provide the same special “hook ups” to the Black community that their white counterparts provide to their own same-race customers, i.e., give lower interest rates, tax breaks, great deals on land ownership, etc. In other words, the Black bank “owners” would have to conspire to create a pro-Black systemic racist cartel—yes, the very same mythical “reverse racism” the white conservative Internet trolls pretend is a real thing—and there is NO WAY! the parent Federal Reserve cartel would ever allow that to happen. Ever. They ONLY allow Black people to have those high positions over major white institutions if the hopeful candidates have already demonstrated the coonish behavior that will assure a commitment to defending the White Supremacist Ideology. Consequently, I would expect the Black bank to give its Black customers even worse deals than the white banks would, since these high-achieving Black professionals are famous for working 3–5 times harder than their white counterparts anyway. They sure as hell aren’t working that hard for US.
Matthew James - With black buying power at $1.5 trillion dollars, what are some ways these resources could be pooled to end poverty and fund every academically deserving student of color?
Muhammad Rasheed - I think all of the OP’s proposed ideas would work great; I see no reason why they wouldn’t all by themselves. In addition to those I would add the funding of major endowments for every industry, well managed by dedicated Black professional investment teams, with regular grant payouts provided to ALL accredited Black professionals within each of those industries as a permanent stream of income (in addition to their normal salaries).
We do have a very high buying power. The fact is that Black people are not “poor.” Despite the use of our ethnic group countenance traditionally displayed as the poster child for impoverishment, we don’t have a problem generating wealth and never have. The root cause of our economic condition is that we live in a society that built its wealth from Black pain. The great wealth of the Western Civilization was generated by exploiting Black bodies, and plundering Black communities, preventing them from amassing wealth over generations. Allowed to keep a tiny bit to “get by,” our $1.5 trillion has gone to build and maintain the white racist aristocracy, creating the infamous wealth gap.
The solution to our actual economic issue then is to self-segregate. We need to cut off the thieving plunder of the ever-treacherous rival group and allow the self-strengthening principles used by the Tulsa, OK “Black Wall Street” to build up the Black American people as a whole, enriching every individual family. This would enable us to fund our own political enfranchisement campaign and build up our socio-economic and political power rivaling that of every other successful ethnic group in the country. Naturally, this would include a rejection of the Federal Reserve banking cartel, and the development of our own baking system that is pro-the people instead of the pro-corporatist racist global war monger system we’re currently used to.
Of course this would literally be a declaration of war to the dominant group, and we would be forced to defend ourselves to protect our new-found freedom. The fight would be worth it however, since it is literally the only way we’ll be able to realistically pool our resources to definitively end poverty and fund every academically deserving Black student within the modern era.
Matthew James - That’s was an incredible answer. Thank you very very much for the time you obviously spent to create such a thoughtful answer.
On the subject of banks, that’s why I’m wondering if a 100% Black owned credit union might be a better route to go with all of the benefits you mentioned?
I agree that it would be a declaration of financial war against the existing racist economic system, but it would seem to me we already had declared on us 400 years ago and we’d be launching a counteroffensive even though that’s not the way it would be perceived.
Either way, count me in! Again, thanks so much for such a great answer Muhammad!
Muhammad Rasheed - A 100% Black-owned anything designed to sever the chains binding us to our traditional enemy is needed to have the full freedoms we want. The Federal Reserve system is a major component of the rival’s war machine against us. We CANNOT play their game. Did you notice how they FREAKED OUT when BitCoin first came on the scene? They calmed down only because they’ve established these middleman institutions designed to get you to volunteer your personal information and convinced the populace they have to go through them to get their crypto-currencies. Don’t fall for it, kids! Do everything in your power to buy them directly! If you’re being asked to break your all-powerful privacy to make a transaction, it’s a Federal Reserve trap. Beware!
Not a declaration of “financial war,” but WAR. Racism IS financial to begin with; all of this is about money and the power it affords. If we tear ourselves loose from this monster it will absolutely trigger the American Civil War 2.0 without doubt. Personally, I think the sooner we get the hardships of the Race War of Legend behind us, the better.