By John the CEO Over the years, we’ve written about the problem of why sistas don’t have a much larger
So to those dummies who keep saying “slavery was a long time ago, get over it and desire to succeed,” you fail to comprehend this extreme, devastating destructive policy. What happened in the 1921 Black Wall Street Tulsa case, where the state government “promised” reparations but deliberately made sure the clock ran out via the statute of limitations, is a perfect example of what ALL of us have had to endure. We never got financially restored, and when some of us were able to overcome these great obstacles in the late 1870s through the early 1920s, here came both the government and private corporate interests masquerading as the KKK to do many acts of ethnic cleansing of our forefathers that forced them to flee their properties or get killed. The bloody ethnic cleansing terrorist acts of 1919 are a perfect example of that.
You probably hear a lot about paper money being replace by “digital currency” in terms of bitcoins, cash apps, RFID chips rammed into the hand, or debit cards. There’s a strong push by governments around the world to outlaw cash. But why do we even value paper or digital cash? We hear Black leaders complain that Black dollars don’t circulate within our community enough. We hear our favorite entertainers worship cash. Politicians corrupt themselves for it. Big Business and Big Banks grab more of it for themselves and give us a tiny fraction of it in the form of salaries.
And for the descendants of slaves, the institution of slavery raped it from our ancestors, and increased the resulting net worth for their children and grandchildren. But on the flip side of that, that unfair transfer of wealth left us with next to no net worth generation after generation, making it much harder to pass on a financial legacy. This means we have a greater chance of being employees (wage slaves) than bosses and businesspeople. With cash from our jobs (instead of businesses for most of us), you and I spend money every day, and will get mad if someone steals it or cheats us out of it.
But why? Who told us to value digital or paper cash in the first place?
As part of the ongoing effort to bring financial literacy to more middle class families, a regular bit of advice
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