Latest / Money And Wealth With John Hope Bryant / Will Being Black Stop You From Success?

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Will Being Black Stop You From Success? · Money And Wealth With John Hope Bryant

0:00
Speaker 1: Welcome the Money and Wealth with John O'Briant, a production
0:03
Speaker 1: of the Black Effect Podcast Network and iHeartRadio. Hey, Hey,
0:15
Speaker 1: this is John O'Brien This is Money and Wealth and
0:18
Speaker 1: the Black Effect Network. This is the trending topic for
0:21
Speaker 1: this week. What in the what HBCU fam you who donation?
0:30
Speaker 1: You call it that purported donation with two hundred and
0:33
Speaker 1: thirty seven million dollars. Florida A and M University is
0:39
Speaker 1: putting the pause on a purported largest donation to an
0:44
Speaker 1: HBCU in the history of America two hundred and thirty
0:47
Speaker 1: seven plus call it two hundred and thirty four rounded
0:50
Speaker 1: up million dollars donation by a guy that no one's
0:55
Speaker 1: ever heard from or heard of before, in a company
1:00
Speaker 1: no one's ever seen before or done business with before,
1:07
Speaker 1: Gregory Garami and his so called energy company in Texas,
1:16
Speaker 1: which I won't bother to name because it doesn't matter.
1:19
Speaker 1: It appears it doesn't really exist, not exists in literal sense,
1:24
Speaker 1: but doesn't exist in a sense that it is not
1:28
Speaker 1: a traded company. It doesn't have a market cap, market
1:32
Speaker 1: capitalization that is recognized. It doesn't have audited financials, it
1:36
Speaker 1: does not have published income statements. It doesn't have unaudited financials.
1:42
Speaker 1: It does not have a board of directors who are
1:45
Speaker 1: accountable and responsible and are publicly known. It does not
1:49
Speaker 1: issue annual reports. It does not have a list of
1:52
Speaker 1: clients that we can be verified and confirmed. The stock
1:55
Speaker 1: certificates or issue could be like tissue paper. I mean,
2:00
Speaker 1: anybody can say anything is worth it. So this is
2:04
Speaker 1: sad because it speaks to with the best of intentions
2:07
Speaker 1: of the leadership of FAMU. It speaks to our financial literacy.
2:12
Speaker 1: It reminds me of the bad deals that we cut
2:16
Speaker 1: meeting African black leaders in Africa with Chinese investors, which
2:20
Speaker 1: I'll deal with in a separate podcast episode. By the way,
2:24
Speaker 1: if you want me to cover something on this podcast,
2:26
Speaker 1: you can lead me a note on one of the
2:27
Speaker 1: social media platforms where you see promotions for the different
2:31
Speaker 1: podcast episodes. You leave me a note John Brian, please
2:34
Speaker 1: cover this, and I do watch the comments and I
2:37
Speaker 1: will take the best of ideas and use them. So
2:41
Speaker 1: this FAMUE thing just breaks my heart because it does
2:46
Speaker 1: speak to our level of financial literacy, making matters worse.
2:49
Speaker 1: It appears a president when he received this supported purported
2:53
Speaker 1: donation from somebody nobody knew in the company that nobody
2:56
Speaker 1: had heard of with the client lists, it doesn't exist
2:58
Speaker 1: with the stock value. Nobody can confront who was financials
3:03
Speaker 1: of the company, nobody's ever seen and no one independent
3:06
Speaker 1: person is verified. When he got this purported donation and
3:11
Speaker 1: agreed to sign a no disclosure agreement, why would you
3:13
Speaker 1: ever do that with a donor unless you just don't
3:17
Speaker 1: tell anybody who the donation was from, not what the
3:21
Speaker 1: donation is. You can't even to your board of directors,
3:23
Speaker 1: big red flag board of trustees. In addition to that,
3:27
Speaker 1: the guy wrote a letter. The president of the university
3:29
Speaker 1: wrote a letter two days after he received this sham
3:33
Speaker 1: so called investment, wrote a letter to county governments, the
3:36
Speaker 1: local county governments where they were considering a fifteen million
3:39
Speaker 1: dollar additional allocation of funds to the university before I
3:43
Speaker 1: believe in athletic stadium. It already committed ten million, I believe,
3:47
Speaker 1: and there was another fifteen million being considered. And the
3:50
Speaker 1: president of the university wrote a letter and said two
3:52
Speaker 1: days or three he received this two hundred and thirty
3:54
Speaker 1: four million dollar piece of tissue paper, I mean purported
3:58
Speaker 1: investment of two hundred and thirty million dollars. He said,
4:01
Speaker 1: never mind. He told the local governments, I don't need
4:05
Speaker 1: you fifty million dollars. I'm cool. And because he thought
4:10
Speaker 1: this money was real and ex I think it was
4:12
Speaker 1: one hundred million, it was a sign to the atletic
4:14
Speaker 1: program or something like that. So you know, whenever you
4:17
Speaker 1: make an emotional decision, it's going to be a bad one.
4:20
Speaker 1: You heard it here. Whenever you make an emotional decision,
4:22
Speaker 1: it's a bad decision. This was bad decision times two,
4:27
Speaker 1: actually times six, like almost everything went wrong here. If
4:31
Speaker 1: they called me, I would have told them that this smells.
4:35
Speaker 1: You know, I'm not trying. I'm not giving shade to this, gentleman.
4:38
Speaker 1: I don't know them from a holding ground or you know,
4:42
Speaker 1: I don't know if from the stranger and I seen
4:44
Speaker 1: on the freeway. I'm just telling you, based on the
4:46
Speaker 1: data that i'm looking at, the information that i'm reviewing,
4:49
Speaker 1: and have heard that this smelled from day one, nothing
4:52
Speaker 1: about this sound kosher. Nobody with this kind of money
4:55
Speaker 1: is off the grid unless it's inherited or it's criminal.
5:01
Speaker 1: And it's inherited, you can typically reverse engineer to where
5:04
Speaker 1: the inheritance comes from if it's if it's criminal, you
5:07
Speaker 1: probably don't want the money anyway. But this is just
5:11
Speaker 1: made up, like somebody created some stock certificates gave it
5:15
Speaker 1: some kind of a phantom value. I want to give
5:17
Speaker 1: my brother Roland Martin a lot of credit for tracking
5:19
Speaker 1: this story down and documented online and to go and
5:22
Speaker 1: watch a cold of Roldan's videos in this he's in
5:25
Speaker 1: my opinion, he's not wrong. This jury is still out
5:27
Speaker 1: on all this. You cannot call the gentleman this greg
5:30
Speaker 1: Greek Garami. You can't call him anything at the moment
5:34
Speaker 1: because you don't know what he is. You don't know
5:35
Speaker 1: if he's you know, legit illegit optimism in his head,
5:40
Speaker 1: a criminal or crunk mentally ill. And we don't know
5:43
Speaker 1: what he is. But what I know is that he
5:45
Speaker 1: does not have He did not present the credentials that
5:49
Speaker 1: back up a two hundred and thirty seven to almost
5:51
Speaker 1: two hundred and thirty eight million dollar donation, In fact,
5:55
Speaker 1: not even a two dollars donation the stoff he put up,
5:58
Speaker 1: no cash stock certificate as he put up with a
6:01
Speaker 1: marketing value of fifteen dollars or something per share, have
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Speaker 1: no financial basis tied to them nothing that anybody can confirm.
6:09
Speaker 1: They're not publicly traded, which is the easiest way that
6:13
Speaker 1: is the market. Publicly traded is the stock market, the
6:16
Speaker 1: open market telling you what something's worth, because we will
6:18
Speaker 1: bo sit and sold the stocks giving it a value.
6:22
Speaker 1: This is a private company where somebody decided that something
6:27
Speaker 1: had a value and placed it on it, wrote it
6:30
Speaker 1: down on a piece of paper, and then tried to
6:32
Speaker 1: monetize that for reasons that are still strange to me.
6:36
Speaker 1: I can't figure why he would do this and gave
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Speaker 1: this universe. He tried to give it to another college
6:41
Speaker 1: of the university. They rejected it. Unfortunately found you accepted
6:45
Speaker 1: it and didn't tell anybody until after the gave a
6:48
Speaker 1: commencement address, and they passed around this fake check and
6:52
Speaker 1: made all these headlines when maybe that's what the guy wanted,
6:55
Speaker 1: which means if that's the case, he is mentally I
6:57
Speaker 1: don't know. Maybe he was trying to use the promotion
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Speaker 1: and the fame from that to go close business deals
7:05
Speaker 1: with his non existent company that was doing interesting non
7:12
Speaker 1: business in I believe, Texas with no and the person
7:15
Speaker 1: he said he did business with I'm told said she
7:18
Speaker 1: never worked for the company. She knew the guy, but
7:20
Speaker 1: was he claimed she was a co founder. This whole
7:23
Speaker 1: thing to sneak distinct to high heaven, and I feel
7:26
Speaker 1: bad for the president and the boys, trustees and everybody
7:31
Speaker 1: at this HBCU, and this is going to unfortunately hurt
7:34
Speaker 1: all HBCUs. For a minute, it's a little bit of
7:37
Speaker 1: a laughingstock moment, just so you feel better. I've been there,
7:43
Speaker 1: not like this, but a brother and I was in
7:46
Speaker 1: Africa with a bass reader young twenty years ago and
7:49
Speaker 1: a really really smart brother, much smarter than as Greg.
7:52
Speaker 1: Dude who was selling art sold me some art and
7:56
Speaker 1: it was the hotel where everybody was covered by security
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Speaker 1: because the President of Nigeria was there, and I was
8:04
Speaker 1: so proud to be there and I wanted to buy
8:06
Speaker 1: some African arts. I bought this art and I believe
8:08
Speaker 1: it was like nine hundred dollars or something. So I
8:10
Speaker 1: gave the guy a check back in the days when
8:12
Speaker 1: he wrote checks for nine hundred dollars, and he let
8:14
Speaker 1: me take the art. It was really really smart at him,
8:17
Speaker 1: and I put the art in my luggage and I
8:19
Speaker 1: brought I took it home, and about three weeks later,
8:22
Speaker 1: this guy sends me an email. This is really really savvy,
8:25
Speaker 1: this this con was off the chain. Savvy sent me
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Speaker 1: an email. Mister Bryant's so sorry. The check wouldn't go
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Speaker 1: through my bank wouldn't cash it. They said, I don't
8:34
Speaker 1: have proper RD. We go to the Western Union where
8:38
Speaker 1: we go to, you know, go try and cash or
8:39
Speaker 1: someplace else. Well, you know, I don't know how to
8:42
Speaker 1: do that, and can you send me a wire instead?
8:47
Speaker 1: Well sure, so I go to wire him to my
8:52
Speaker 1: office to wire him nine hundred dollars. It was probably
8:55
Speaker 1: I think a little bit more than that, but I
8:57
Speaker 1: think it was twelve undred dollars. But anyway, for seeing
8:58
Speaker 1: this conversation, it's nine hundred dollars and we wire him
9:02
Speaker 1: nine hundred dollars. This brilliant guy says, sorry, I can't
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Speaker 1: receive it the Western Union where the company says, I
9:09
Speaker 1: don't have the proper ID. What do you mean that,
9:11
Speaker 1: They say, you know, the proper I D Let me
9:13
Speaker 1: talk to these people. Well no, let me see if
9:14
Speaker 1: I can work this out. Now. Mind you, this is
9:16
Speaker 1: now in the second week of the discussion with this guy.
9:19
Speaker 1: But this is three weeks after I've left. We're on
9:21
Speaker 1: the fifth week of me being away. I already got
9:23
Speaker 1: the art. It's in my home. So these guy says, well,
9:26
Speaker 1: maybe you can wire it to my sister. Sure, so
9:29
Speaker 1: I try to wire them. By the way, the first
9:30
Speaker 1: wire did not go through, so I got a confirmation
9:33
Speaker 1: that I try to wire the money again to his sister. Success.
9:38
Speaker 1: His sister received the money. He received the money. I'm
9:41
Speaker 1: so happy. I don't hear from him again. My assistant says,
9:45
Speaker 1: by the way, did you ever cancel that shit? Nah? No, no, no, no, no,
9:51
Speaker 1: can't be went back to the bank check cash. This
9:56
Speaker 1: dude got me for two grand I think it was
9:58
Speaker 1: actually tweve hundred dollars, which he got me for twenty
10:00
Speaker 1: four hundred dollars. It was so smooth, though, I couldn't
10:04
Speaker 1: be mad at him. And this is back when twenty
10:06
Speaker 1: four dollars was a lot of money for me. I
10:07
Speaker 1: believe it was twelve hundred dollars was the original number,
10:09
Speaker 1: which means he got me twice. I mean that was
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Speaker 1: everything for me, not everything, but it was a lot
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Speaker 1: of money for me, and I couldn't afford to lose it.
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Speaker 1: But I couldn't be mad at him either, because this
10:18
Speaker 1: was brilliant. He got me and got me good. Well,
10:21
Speaker 1: Greg whatever, this dude's name is Garam did not get
10:24
Speaker 1: this university that good. He was not that smooth, that
10:27
Speaker 1: smart and that smart. This was just this is financial literacy.
10:31
Speaker 1: This is why I keep saying financial literacy is a
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Speaker 1: civil rights issue of this generation. We got to know
10:34
Speaker 1: better so we can do better. This is John Hopebryant.
10:37
Speaker 1: This is the Money and Wealth Podcast. Go get your
10:42
Speaker 1: financial literacy and your civer rights. Hey, Hey, it's John
10:56
Speaker 1: Hope Bryant. And I am honored to cover a topic
11:02
Speaker 1: that's going to be quite explosive. I'm happy to light
11:07
Speaker 1: the fuse and this important conversation because we have to
11:11
Speaker 1: have it. This is something that we have to talk about. Particularly.
11:14
Speaker 1: I'm talking about racism in America. I'm talking about I'm
11:16
Speaker 1: talking about being Black in America. I'm talking about racism
11:21
Speaker 1: and being Black in America and twenty twenty four important.
11:24
Speaker 1: I say twenty twenty four in particular, and is being
11:29
Speaker 1: African American specifically the end all be all. If you
11:33
Speaker 1: read the comments from a post this weekend that Breakfast
11:37
Speaker 1: Club put up a part of my interview where they
11:39
Speaker 1: put a provocative title which is not what I said
11:43
Speaker 1: when I understand why they did it, and that wasn't
11:45
Speaker 1: inaccurate where I talk about they say what John Bryant
11:49
Speaker 1: says basically, you know, is racism something like racism? You know,
11:54
Speaker 1: can you overcome racism with banks or you know, accessing
11:57
Speaker 1: a mortgage something like that? Is it irrelevant? And of
12:00
Speaker 1: course that's not what was said. The interview of the
12:02
Speaker 1: interview was in spite of challenges? Is the color really green?
12:08
Speaker 1: In spite of challenge? Is a black and white racial issues?
12:13
Speaker 1: Are you saying, John, the color is really green? Back
12:15
Speaker 1: it up? And I did back it up. I like
12:18
Speaker 1: math as I loved the quote Melanie House and quote
12:21
Speaker 1: get credible credit is due. I like math because it
12:24
Speaker 1: doesn't have an opinion. So I did back it up.
12:28
Speaker 1: I backed up what I said about the colors really
12:31
Speaker 1: green with data and anybody watching the entire one hour
12:34
Speaker 1: interview on Breakfast Club with Charlemagne and you know the
12:39
Speaker 1: crew there, we'll see we cover it in great detail
12:42
Speaker 1: that in a range of other things. By the way,
12:46
Speaker 1: a teaser I'm going to be doing I covered diversity
12:49
Speaker 1: equity inclusion of that podcast, and I'm doing a series
12:52
Speaker 1: of the business plan of America on my podcast series
12:57
Speaker 1: and on my daily straight talk series on social media.
13:01
Speaker 1: But getting in detail on my podcast series, I'm gonna
13:04
Speaker 1: break down the entire future of diversity, equity, inclusion and
13:08
Speaker 1: how it is a business plan for America and why
13:12
Speaker 1: I think is going to shut everybody up. So this
13:14
Speaker 1: is a teaser alert letting all your friends know, tell
13:16
Speaker 1: them to subscribe to this podcast and follow the conversation
13:20
Speaker 1: and listen to an intelligent debate about the future of
13:24
Speaker 1: all of us. But back to this topic. If you
13:27
Speaker 1: looked at the comments, it was quite troubling because this
13:32
Speaker 1: one piece, clearly people didn't watch the whole podcast. Not
13:36
Speaker 1: important the comments themselves or don't bother me, nothing bothers me.
13:41
Speaker 1: Mostly people were respectful and positive. By the way. What
13:44
Speaker 1: bothered me was how backwards some of our thinking is.
13:49
Speaker 1: And we're brilliant people. I went to our way, African Americans,
13:53
Speaker 1: we are brilliant. We are amazing. We've been doing so
13:55
Speaker 1: much with so little for so long. We can almost
13:57
Speaker 1: do anything with nothing right. You know, my grandmother was
14:01
Speaker 1: a domestic and had a shotgun shot in East St. Louis.
14:06
Speaker 1: You know, my mother was early on domestic. It worked
14:09
Speaker 1: an hourly job. My grandfather on my father's side was
14:13
Speaker 1: a sharecropper. My great grandfather, my second great grandfather, was
14:18
Speaker 1: fought in the Union cause the Black troops during the
14:21
Speaker 1: Emancipation Proclamation in Memphis, Tennessee. He was a slave. Clearly,
14:27
Speaker 1: I understand our challenges. I understand racism is real. I'm
14:30
Speaker 1: not debating any of that. The debate wasn't about racism, Okay,
14:34
Speaker 1: So I finally got into it. The debate was not
14:37
Speaker 1: about race. It had it was a I didn't mention
14:39
Speaker 1: racism with Charlemagne, didn't mission racism. Dj Nvan didension racism.
14:45
Speaker 1: The issue was was perseverance and strategy and Israel way
14:51
Speaker 1: around issues of discrimination and race when they come up
14:55
Speaker 1: and are you do you think you're correct John in
14:58
Speaker 1: saying that green is a way around racism of blacks
15:02
Speaker 1: and browns, And I said, yes, if you get your
15:06
Speaker 1: credit score right, you get high enough, you can go
15:09
Speaker 1: over around and through any challenge that faces you. Your
15:11
Speaker 1: credit score, your adaptly can come, of course. And I've
15:13
Speaker 1: even went down to say that if you come to
15:15
Speaker 1: Operation and Hope, we will put up our balance sheet
15:18
Speaker 1: that Operation Hope and if you follow our criteria. If
15:21
Speaker 1: the bank turns you down, we'll fund your loan. So
15:26
Speaker 1: it was not complicated, but it sparked. And I've already said,
15:29
Speaker 1: if you make a decision emotionally, it's going to be
15:31
Speaker 1: the wrong decision. So it sparked an emotional back and
15:36
Speaker 1: forth conversation that I happily engaged in on comments. I
15:40
Speaker 1: used comment responses sometimes to educate. It wasn't upsetting me
15:45
Speaker 1: at all, you know, I went out to my self
15:48
Speaker 1: esteem depends on somebody's acceptance of me. And I am
15:52
Speaker 1: the best selling author and economics now globally at the moment,
15:56
Speaker 1: number one on Amazon three categories, and before that published
15:59
Speaker 1: weekly in the USA. Today the book that just came
16:01
Speaker 1: out of financial Literacy for all you should all get
16:03
Speaker 1: a copy. We have built, you know, delivered for to
16:07
Speaker 1: have billion dolls with the capital the underserved neighborhoods, black
16:10
Speaker 1: and brown neighborhoods and struggling white neighborhoods and Latin know
16:13
Speaker 1: neighborhoods by the way, through operation Hope. I think I
16:17
Speaker 1: know a little bit about capital. I know I'm the
16:19
Speaker 1: only nonprofit allowed to operate inside of a bank branch
16:21
Speaker 1: in U it's history. I think I know something about banking.
16:24
Speaker 1: I'm an advisor to federal regulators, banking regulators. I think
16:28
Speaker 1: I understand something. I know something about banking regulation. I
16:31
Speaker 1: think I know a little bit about history. I'm the
16:33
Speaker 1: only African American, sorry, the only American citizen ever. The
16:38
Speaker 1: trigger a renaming of the building on the White House campus,
16:41
Speaker 1: the Treasury Annicts Building, now called the Freedman's Bank Building,
16:45
Speaker 1: renamed in honor of former slaves who put every dollar
16:48
Speaker 1: they had in the bank that Abraham Lincoln stood up
16:50
Speaker 1: with Frederick after the Civil War. Uh, And we went
16:54
Speaker 1: and got our federal government secretary Jack lou to be specific,
16:58
Speaker 1: UH and my friend while the Adamo and others helped
17:01
Speaker 1: me to get the building renamed. This was during the
17:04
Speaker 1: Obama administration. It's now called the Freedomance Bank Building. And
17:08
Speaker 1: we had Operation O Break. We believe continuing that work
17:11
Speaker 1: today three hundred offices across the country. So there's my credibility.
17:14
Speaker 1: That and a bunch of others I've advised through US presidents.
17:17
Speaker 1: I think I understand history, I understand the government, I
17:20
Speaker 1: understand banking, understand money, and I think I understand racism money.
17:24
Speaker 1: You know, I just said it had nothing to do
17:26
Speaker 1: with the conversation. The conversation was about how do you
17:29
Speaker 1: succeed irrespective of racism? But let's deal with this, because
17:33
Speaker 1: I mean this was people were citing this lawsuit and
17:37
Speaker 1: that lawsuit in John, how do you say racism doesn't
17:41
Speaker 1: exist against black people? Because this happened to me subjective.
17:47
Speaker 1: That happened to me subjective, subjective meaning it was about
17:51
Speaker 1: this subject It was about this person and this experience
17:55
Speaker 1: that they had, and their life experience is defined by
17:58
Speaker 1: that or this lawsuit with this company. And I'm going
18:01
Speaker 1: to break down banking on a separate podcast. I promise
18:03
Speaker 1: to do that and dedicate our white banks quote unquote
18:07
Speaker 1: white banks racist. I'm gonna enjoy doing that podcast, but
18:11
Speaker 1: I'm gonna say focused on this issue today of racism
18:14
Speaker 1: and my belief that if you do a class, you
18:17
Speaker 1: get race for free. Today. Yes, I said it, but
18:22
Speaker 1: I want you to just follow me on this and
18:25
Speaker 1: let's have an intelligent conversation. So again, the themes of
18:30
Speaker 1: the comments you go on my Instagram page in response
18:33
Speaker 1: to this particular post by the Breakfast Club was you know,
18:38
Speaker 1: racism is so bad against black people? How could you
18:42
Speaker 1: ever think about recommending that we access capital or race
18:46
Speaker 1: creative scores, or why should we have any hope? Essentially,
18:50
Speaker 1: why should we try anything? Essentially because no matter how
18:54
Speaker 1: hard we try, no matter what we do, racism against
18:57
Speaker 1: black people and it's so bad and it's so document
18:59
Speaker 1: and giant. You should know better then, Why shouldn't we
19:02
Speaker 1: ever try to do anything? But we're just gonna sit
19:04
Speaker 1: here and complain about how bad things are because why try?
19:08
Speaker 1: We all know this system is stacked against us. If
19:10
Speaker 1: you're black, you've got no chance of succeeding in this country.
19:14
Speaker 1: When you get up in the morning, people are conspiring
19:15
Speaker 1: against you. John, you should know better. Again, look at
19:18
Speaker 1: this lawsuit, that lawsuit. This situation is racism real? Let
19:23
Speaker 1: me start here. Yes, racism is like rain is either
19:29
Speaker 1: fall in someplace or as gathering. So you might as
19:33
Speaker 1: well get out an umbrella in a color you're light
19:35
Speaker 1: and start strolling through it because it's not going to change,
19:40
Speaker 1: so you must over a rounded through it. We're gonna
19:44
Speaker 1: have to get to it. So it's racism real, Absolutely,
19:47
Speaker 1: it's real. Of course, my friend Stevie Wonder can see
19:50
Speaker 1: it's real. He won't mind me using making that phrase
19:53
Speaker 1: to see what there's a great sense of humor. But
19:55
Speaker 1: I mean the point is anybody can see that racism
20:00
Speaker 1: is real, and it's been real for a long time,
20:02
Speaker 1: not just for us, for a whole bunch of people.
20:04
Speaker 1: And what's the point. Now here's a second pivot on
20:10
Speaker 1: this conversation. Okay, racism is real. Then how do you
20:13
Speaker 1: how can you possibly say, John, that we should believe
20:17
Speaker 1: in this system when clearly racism against black people is
20:20
Speaker 1: uniform and we can't succeed no matter how hard we try.
20:25
Speaker 1: The first premise is that black is black. In other words,
20:27
Speaker 1: when you're black, you're off the grid economically, you're going
20:30
Speaker 1: to be discriminated against. That's right, right, No, it's not right.
20:38
Speaker 1: The Boston Globe did a report in concert with I believe.
20:43
Speaker 1: I know it was Federal Reserve Bank of Boston, but
20:45
Speaker 1: I think it was also a Duke University look it
20:48
Speaker 1: up front page. Several years ago. They did a study
20:51
Speaker 1: of net worth in Boston area and they found that
20:56
Speaker 1: white people had a net worth of you know, one
20:58
Speaker 1: hundred and some thousand dollars I recall, and that Black
21:02
Speaker 1: Caribbean people had a networth of I believe it was
21:04
Speaker 1: twelve hundred dollars, give or take, and that African Americans
21:09
Speaker 1: in Boston had net worth of eight bucks. And it
21:15
Speaker 1: was so bad, yes, eight bucks, and it was so bad,
21:17
Speaker 1: it was so terrifying of a study that the headline
21:21
Speaker 1: in the Boston Globe actually said that the black network
21:24
Speaker 1: in Boston was eight bucks. And this is not a typo.
21:27
Speaker 1: The headline literally said, this is not a typo as
21:29
Speaker 1: in topographicable error, that the networth of African Americans was
21:34
Speaker 1: eight dollars, while the net worth of African Caribbeans, hello,
21:39
Speaker 1: they're black, it was twelve hundred dollars. Now, the networth
21:43
Speaker 1: of whites was you know, multiple times that of over
21:47
Speaker 1: one hundred thousand dollars. So clearly there's disparities there. But
21:51
Speaker 1: if all black people were in the same bucket, everybody
21:54
Speaker 1: would have a networth of either twelve hundred dollars in
21:56
Speaker 1: this one example or eight bucks. But clearly there is
22:01
Speaker 1: a difference. I said in another podcast episode that and
22:06
Speaker 1: I've been one hundred countries, I've been to almost half
22:08
Speaker 1: of all African countries. I've been to a great deal
22:10
Speaker 1: of the Caribbean. I've said that, and this is a generalization,
22:14
Speaker 1: and this is what if people want to argue with me,
22:15
Speaker 1: I guess you can argue about this point. The rest
22:17
Speaker 1: of it is literally fact based and non refutable. Anybody
22:21
Speaker 1: likes statistics, facts and data. But this is just my opinion.
22:25
Speaker 1: But I don't think it's off the mark. If you're
22:28
Speaker 1: in Africa the Caribbean, you tend to have high self
22:31
Speaker 1: esteem in lower levels of confidence. High self esteem because
22:35
Speaker 1: you grew up well, normal mother and father. Generally speaking,
22:39
Speaker 1: you see the dentist who's black, looks like you. You see
22:41
Speaker 1: the architect who's black, the lawyer who's black, the mayor
22:45
Speaker 1: is black. The police who were protecting you, and the
22:47
Speaker 1: police were abusing you all black, so it's sort of
22:51
Speaker 1: And you weren't dealing with slavery for the majority of
22:54
Speaker 1: your ancestral life. It was a short period of time,
22:58
Speaker 1: but it went away. So I'm to America with high
23:02
Speaker 1: self esteem. You esteem yourself, you love yourself, but you
23:06
Speaker 1: have high low levels of confidence because you're not quite
23:09
Speaker 1: sure you can succeed even though you're really smart in
23:11
Speaker 1: a leading market economy, because you come from some place
23:14
Speaker 1: that may be you know, several steps behind the best economies.
23:19
Speaker 1: The biggest economies in the world, but over time, your
23:22
Speaker 1: confidence increases. Confidence is based on confidence applied in the
23:26
Speaker 1: market economy. In this example, Africa is the same thing.
23:30
Speaker 1: Africans and African Caribbeans tend to have high self esteem
23:34
Speaker 1: and low levels of confidence or lower levels of confidence
23:37
Speaker 1: self African Americans tend to have high levels of confidence
23:42
Speaker 1: and lower levels of self esteem. This is why it's
23:44
Speaker 1: This gets into why we fight with each other. By
23:47
Speaker 1: the way, if I don't like me, I'm not gonna
23:49
Speaker 1: like you. If I don't feel good about me, I'm
23:51
Speaker 1: not gonna feel good about you. I don't respect me.
23:54
Speaker 1: I don't have a clue how to respect you. If
23:55
Speaker 1: I don't love me, I have no idea how to
23:58
Speaker 1: love you. If I don't have a purpose in my life,
24:00
Speaker 1: I'll make your life a living hell. Whatever goes around
24:03
Speaker 1: comes around. But I've gotten too farland we come back
24:06
Speaker 1: so we have higher confidence because we're competent and we've
24:10
Speaker 1: applied that confidence or that competence. I'm sorry. In a
24:14
Speaker 1: market economy, the biggest economy in the world, the United
24:16
Speaker 1: States of America, we have killed it. In professional sports,
24:21
Speaker 1: the arts, entertainment, music, etc. Faith, religion, politics, public service,
24:29
Speaker 1: government rules are published a playing through this level. We
24:32
Speaker 1: are extraordinarily smart. We hustle, we work hard, We're hyper intelligent.
24:36
Speaker 1: We're hard working. We succeeded. That competence created success and
24:41
Speaker 1: gave us confidence because we're succeeded in the largest economy
24:45
Speaker 1: in the world. But our history of being enslaved and
24:48
Speaker 1: dealt with with discrimination in jim Crow for most of
24:51
Speaker 1: our existence in this country, more than three hundred years,
24:56
Speaker 1: three hundred and fifty years, give or take, has to
24:59
Speaker 1: damn which our self esteem. That's why you have African
25:03
Speaker 1: American ghettos in America. You don't have African ghettos in America.
25:07
Speaker 1: You don't have African Caribbean ghettos in America. I know
25:09
Speaker 1: there's getting deep and off the topic. I'm going to
25:11
Speaker 1: get back to the economics here in the moment. It's
25:13
Speaker 1: a very powerful statement. If I want to lay the groundwork,
25:16
Speaker 1: we're gonna have a conversation about this. But again, you
25:19
Speaker 1: don't see African Ghaneian ghettos in America. I don't mean
25:22
Speaker 1: where African Ghaneans live. I don't remember where saying where
25:26
Speaker 1: African Jamaicans live in the community are African. Zimbabweans are African,
25:33
Speaker 1: Nigerians are African. You know Brazilians. Did you get the point?
25:39
Speaker 1: They live in communities, just like everybody lives in communities,
25:42
Speaker 1: but they don't have ghettos. You have African American ghettos
25:45
Speaker 1: in America. Hello. Because they depressed our spirit and repressed
25:51
Speaker 1: our ambition and aspiration and tried to break us as
25:55
Speaker 1: human beings. So they just wanted this to be a
25:57
Speaker 1: human machinery, human doings on human beings and mindset matters.
26:01
Speaker 1: As you heard me say, I've got a book called
26:03
Speaker 1: the Memo. I've got that It tries to work on
26:06
Speaker 1: your mindset. I've got the book up from nothing. The
26:09
Speaker 1: five pillars of success, your mindset, your your you know,
26:12
Speaker 1: is that of surviving mindset? Is that the writing and
26:14
Speaker 1: mindsets are winning mindset, towny, many of us are in
26:16
Speaker 1: a surviving mindset. We're experts in what we're against, racism
26:19
Speaker 1: by a discrimination, not what we're for. Hello. So we
26:25
Speaker 1: double down on this trauma, this PTSD that overtakes us.
26:30
Speaker 1: And if you whether you believe you can or whether
26:32
Speaker 1: you believe you can't, you're absolutely right. Is the glass
26:35
Speaker 1: half full ers and half inb depends who's looking at
26:38
Speaker 1: the glass. So bassiarger Young would say, to live in
26:42
Speaker 1: a system of free enterprise. He's on the balcony with
26:44
Speaker 1: doctor King when he was assassinated. To live in the
26:47
Speaker 1: system of free enterprise and not to understand the rules
26:49
Speaker 1: of free enterprise must be the very definition of slavery.
26:53
Speaker 1: And that's why I connect this with credit scores. Uh,
26:56
Speaker 1: And that's why I said that Charlemagne show Breakfast Club,
26:59
Speaker 1: get your critical above seven hundred. My mother's credit score
27:01
Speaker 1: was eight fifty four when she first when she last
27:04
Speaker 1: access credit, people were even arguing, being about that, oh man,
27:07
Speaker 1: that your mother's credit score wasn't eight fifty four. It
27:10
Speaker 1: doesn't even go beyond eight point fifty. See, gotcha? I'm like, hello,
27:16
Speaker 1: My mother last access credit in twenty nineteen, twenty eighteen
27:20
Speaker 1: or thereabouts. Maybe even before that, her credit score was
27:23
Speaker 1: fifty four. It was a vantage score. Hello, Bichael also
27:26
Speaker 1: went up to nine hundred and vanta score with up
27:28
Speaker 1: to nine hundred. They changed it in twenty twenty during
27:31
Speaker 1: the pandemic. But why is this an argument? Why are
27:34
Speaker 1: we arguing? Why are we re arranging the deck chairs
27:37
Speaker 1: and the Titanic, the ship is sinking and we're picking drapes.
27:40
Speaker 1: Why must you convince me that I'm wrong? Why must
27:44
Speaker 1: you make me wrong? What's your point? My mother's credit score?
27:48
Speaker 1: God adressed her. So Winnie the Smith was eight fifty four.
27:51
Speaker 1: Why would I lie about that? She had an hourly income.
27:55
Speaker 1: She made fifteen to eighteen dollars an hour at McDonald
27:57
Speaker 1: douglain's aircraft, worked there for thirty two years, bought one
28:01
Speaker 1: home and comped in one five five o two South
28:04
Speaker 1: Frankly a broken marriage over money with my dad, Johnny Smith,
28:09
Speaker 1: who worked very hard but was not very financially literate,
28:12
Speaker 1: and so on and so forth, And tell that story
28:14
Speaker 1: in another podcast episode. And my point was, I can
28:16
Speaker 1: relate to the struggle and the hustle and the challenges.
28:20
Speaker 1: And we came and we had to live with people
28:22
Speaker 1: and all that kind of stuff. And my mother bought
28:23
Speaker 1: and sold seven homes and built a million dollar networks
28:27
Speaker 1: when she passed away September tenth, twenty and twenty three. Well,
28:32
Speaker 1: I lie about that. That's crazy. Just take the story
28:36
Speaker 1: as a source of aspiration, applaud it, and try to
28:38
Speaker 1: replicate it. But they're folks undermining that story. No, man,
28:42
Speaker 1: that didn't happen, and John don't understand, and what the
28:46
Speaker 1: and then my mother they bought and sold seven homes.
28:49
Speaker 1: I owned seven hundred through the Promise Homes Company, And
28:54
Speaker 1: there was no government assistance per se. In other words,
28:57
Speaker 1: there was no government program I used. I I was
28:59
Speaker 1: financially in literally access capital the market economy. I mastered
29:04
Speaker 1: the game of capitalism. So my grandmother was owned the
29:08
Speaker 1: shotgun check. My great grandmother on my mother's side was
29:10
Speaker 1: a slave. My mother owned seven homes with a high
29:13
Speaker 1: school education, and I owned seven hundred and the largest
29:17
Speaker 1: minority owner of single family rental homes in America. And
29:20
Speaker 1: I access the credit markets and got prime rates and
29:23
Speaker 1: ultimately got non recourse debts. I'll cover terms of loans, debts,
29:28
Speaker 1: and financial instruments in another podcast, but non recourse debt means,
29:31
Speaker 1: in this true example, not personally guaranteed, institutionally guaranteed. So
29:37
Speaker 1: I became an institutional borrower. And I'm from the hood,
29:41
Speaker 1: less of my check. I'm black. So people are telling
29:44
Speaker 1: me this is not possible. But not only did I
29:46
Speaker 1: do it for myself and I did my mother do it,
29:48
Speaker 1: but we've done it for four billion dollars worth of capital.
29:50
Speaker 1: We deployed two people of color and struggling people everywhere
29:55
Speaker 1: clean non blacks and browns meaning poor white suit which
29:58
Speaker 1: is the largest population of poverty in America. By the way,
30:01
Speaker 1: I'll get to that in moment through Operation Hope by
30:04
Speaker 1: doing the same thing I'm saying, raising credit scores, lowering dad,
30:07
Speaker 1: increasing savings, making you bank and well, so your color
30:10
Speaker 1: is not black or white, it's green, so we can
30:13
Speaker 1: get you approved. But these arguments were almost, like again,
30:17
Speaker 1: traumatic because they could not accept a different narrative than
30:21
Speaker 1: the one they had in their head. That's modern day
30:25
Speaker 1: slavery is mindset, crushed, mindset, a cynical mindset. Don't be skeptical,
30:33
Speaker 1: but don't be cynical, because when you're cynical, that means
30:35
Speaker 1: you have no hope. That they're Andrew Young quote. So,
30:38
Speaker 1: as Malcolm X said, we've been bamboozo we've been tricked,
30:40
Speaker 1: We've been fooled. Now here's the data. Here's a drop
30:43
Speaker 1: the mic of this podcast for those who say still
30:49
Speaker 1: saying listening to this, saying I love what John Bryan
30:52
Speaker 1: says and all this kind of stuff, but you know,
30:55
Speaker 1: I just can't buy this this is not true. Racism
30:58
Speaker 1: is so bad that why should I have hope. Here's
31:01
Speaker 1: the data. Friend of mine sent me this graph and
31:04
Speaker 1: it's very powerful. Actually, i'll tell you what the friend was.
31:07
Speaker 1: That's a brig guy named Charlemagne, who I think is
31:10
Speaker 1: underrated as an intellect, an intellectual. He sent me this graph.
31:17
Speaker 1: Here you go. This just confirms what I've been saying,
31:20
Speaker 1: income by ethnicity median household income by ethnicity in the
31:24
Speaker 1: United States of America. Okay, so here we go Indian Americans,
31:32
Speaker 1: not white people. By the way, that's not a racial comment.
31:35
Speaker 1: It's just that people say it's white and it's black. Right.
31:38
Speaker 1: White people are rich, and white white people are poor.
31:40
Speaker 1: White people are elitists and where, and they're repressive against
31:43
Speaker 1: black people who are being oppressed and where you know,
31:46
Speaker 1: they got a foot right whatever the phrase is, right?
31:49
Speaker 1: So I want you to write this down, have this
31:53
Speaker 1: conversation with people. Let them repeat this podcast in a conversation.
31:58
Speaker 1: Have a weekly conversation with your posse in your neighborhood,
32:01
Speaker 1: and go to the barber shop, re open this up,
32:04
Speaker 1: play it for them. Let's have a conversation about what's
32:09
Speaker 1: the game here? Because I really believe slavery was actually
32:11
Speaker 1: about money, not repressing black people. It's about bad capitalism.
32:16
Speaker 1: There's good capitalism and bad capitalism. Good capitalism is where
32:20
Speaker 1: I benefit and you benefit more. Bad capitalism is where
32:24
Speaker 1: I benefit and you pay a price for it. Here's
32:27
Speaker 1: the large economy in the world. This is the United
32:29
Speaker 1: States of America. Please listen. Income by ethnicity in this country.
32:37
Speaker 1: Indian Americans one hundred and fifty two thousand, three hundred
32:42
Speaker 1: and forty one dollars. Indians are discriminated against. Maybe not
32:45
Speaker 1: as bad as African Americans, but they have been. Filipino
32:49
Speaker 1: American one hundred and nine thousand, ninety dollars a year.
32:54
Speaker 1: This is everybody. Now, you don't seen me, you've heard
32:58
Speaker 1: of white American. That's why I keep saying the business
33:01
Speaker 1: plan for America. This country needs everybody to succeed to
33:04
Speaker 1: continue to be the biggest economy in the world. Asian
33:08
Speaker 1: American one hundred and six thousand, nine hundred and fifty four,
33:12
Speaker 1: Chinese American which is different from Asian American by the way,
33:16
Speaker 1: one hundred and one thousand, seven twenty eight, Russian American
33:21
Speaker 1: ninety nine hundred and forty six dollars a year. European American. Okay,
33:26
Speaker 1: here we go Caucasians. So now you've got somebody to
33:30
Speaker 1: pick on. Maybe they're in ninety six thousand, seven hundred
33:35
Speaker 1: and forty five dollars, but they are fifth on this list.
33:39
Speaker 1: There was a time when there was just them. And
33:42
Speaker 1: I keep saying there's not enough college educated, successful white
33:44
Speaker 1: man to grow GDP gross domestic product for this country
33:48
Speaker 1: for the next thirty years. It's not a racial comment.
33:51
Speaker 1: It's just mad. Go to LinkedIn and read my business
33:53
Speaker 1: plan for America and again you'll see what I'm saying
33:57
Speaker 1: that this country, for the first time in the history,
33:58
Speaker 1: God has a sense of humor. You want to make
34:01
Speaker 1: God lad, tell me your plan. You're racist. Racism is
34:03
Speaker 1: bad for business. The lowest credit score of state in
34:05
Speaker 1: America is Mississippi. The least diverse promoting satan the country
34:10
Speaker 1: probably is Mississippi. They still arguing about whether they want
34:13
Speaker 1: to take down the Confederate flag or something. Again, so
34:15
Speaker 1: it's just crazy discussions. Right. I'm not judging somebody. I'm
34:18
Speaker 1: saying the decision making is bad. I'm not judging as
34:20
Speaker 1: a person. I'm saying your decision making is antiquated, is
34:23
Speaker 1: bad that diverse and inclusive economies are growing economies. America
34:28
Speaker 1: is the most diverse place in the world, one of
34:31
Speaker 1: the most It is the biggest economy in the world. Okay,
34:33
Speaker 1: back to the data so here in nineteen fifty America
34:37
Speaker 1: was one hundred woman, ninety percent white nineteen fifty, nineteen
34:40
Speaker 1: fifty five. That's not the reality today. So it was
34:45
Speaker 1: racism the biggest issue in nineteen fifty probably or one
34:48
Speaker 1: of the biggest issues. And Jim Crow certainly would suggest
34:51
Speaker 1: that in the early twentieth century it would slam the
34:54
Speaker 1: door on any prosperity. Simply what happened in Tosa, Oklahoma,
34:58
Speaker 1: where they burned down a whole city because people became
35:00
Speaker 1: prosperous and was a threat, was absolutely a shut down
35:04
Speaker 1: based on race. What happened after reconstruction or during reconstruction
35:09
Speaker 1: after Lincoln's assassination, shut down the Freedman's Bank and all
35:13
Speaker 1: the progress of those becoming black elected officials, et cetera,
35:15
Speaker 1: et cetera, and the reversal of forty years in the
35:18
Speaker 1: Meal failed Action fifteen that was clearly white racist forces,
35:24
Speaker 1: racally motivated forces, or black control. I'm sorry, white control. Sorry,
35:28
Speaker 1: I say black white controlling interest because they are again
35:33
Speaker 1: poor whites too at the same time. So I'll get
35:35
Speaker 1: to that in a minute. Who saw black majorities as
35:38
Speaker 1: a threat not because first and foremost because of race,
35:42
Speaker 1: but because they wanted to keep the wealth and the
35:44
Speaker 1: power and the money for themselves, and they didn't want
35:46
Speaker 1: other folks out voting them, out numbering them and out
35:49
Speaker 1: smart them and out thinking them and out doing them.
35:52
Speaker 1: So keep them, keep them back, keep them down, don't
35:55
Speaker 1: educate them, don't let them farm proper families, don't let
35:58
Speaker 1: them understand financial litter to see the freedomans bank, don't
36:01
Speaker 1: give them, let them have rebuild or have self esteem
36:04
Speaker 1: and confidence, don't have them have proper role models, and
36:08
Speaker 1: then blame failure their own failure on them. So, yes,
36:12
Speaker 1: that was a business plan for a long time. But
36:15
Speaker 1: this is twenty twenty four. I'm bringing your software over
36:19
Speaker 1: the round and through it, we're gonna get to it.
36:33
Speaker 1: Back to the example. I actually think COVID was the
36:36
Speaker 1: Noah's Art moment. God said, Okay, knock it off, everybody.
36:40
Speaker 1: You guys have got a bridge too far with all
36:42
Speaker 1: this messiness, craziness. Let me get you guys refocused and
36:46
Speaker 1: reset everything, and within a year you had the largest
36:49
Speaker 1: pandemic since the Spanish flu one hundred and twenty five
36:51
Speaker 1: years ago. You had a forty year old reckoning of
36:54
Speaker 1: social justice for Black America. George Floyd. Where everbody's watching
36:58
Speaker 1: TV because of COVID the news. Otherwise we wouldn't have
37:01
Speaker 1: been all watching the news black, white, rich, poor, Republican Democrat,
37:05
Speaker 1: oh and young. And then you had an attack on
37:07
Speaker 1: our capital, all in the same year, and it reset
37:11
Speaker 1: everything so that we might grow through legitimate's suffering. Back
37:14
Speaker 1: to the examples again, Indian Americans number one, Filipino Americans
37:19
Speaker 1: number two. That's one hundred and fifty two thousand, hundred
37:21
Speaker 1: and nine thousand a year, respectively of income. Number three,
37:26
Speaker 1: Asian American one hundred and six thousand, Chinese American one
37:29
Speaker 1: hundred and one thousand, Russian Americans ninety eight thousand, European
37:33
Speaker 1: Americans ninety six thousand, seventy forty five dollars a year,
37:36
Speaker 1: Australian America is ninety five thousand dollars a year, Japanese
37:41
Speaker 1: Americans ninety four thousand, three hundred nineteen dollars a year,
37:44
Speaker 1: British Americans ninety thousand, eight hundred and nine dollars. To
37:48
Speaker 1: see that's different from European Americans. In case that you
37:51
Speaker 1: want to start getting real specific, all right, and I'll
37:54
Speaker 1: explained why this is different. In the second Italian Americans
37:58
Speaker 1: ninety thousand and forty eighty seven. You want to see
38:00
Speaker 1: some people who are discriminated against, go back to the
38:02
Speaker 1: early nineteen hundreds and see how Italians were treated. They
38:05
Speaker 1: were treating horrible in this country. Horrible. In fact, they
38:09
Speaker 1: were treated in many cases similar to blacks. German Americans
38:14
Speaker 1: eighty three thousand, nine hundred and eighty nine dollars a year,
38:18
Speaker 1: Canadian Americans eighty two thousand. They're white. Right, I'm not
38:22
Speaker 1: giving you the exact numbers of each of these. I'm
38:25
Speaker 1: giving you I'm grounding it out in some cases, but
38:27
Speaker 1: it's eighty thousand, five hundred and twenty one dollars Canadian Americans.
38:30
Speaker 1: White American hello, seventy nine thousand, nine hundred and thirty three.
38:36
Speaker 1: It will be interesting to find out what describes a
38:38
Speaker 1: white American versus European American. Probably European American, somebody who
38:41
Speaker 1: came here from Europe. So white Americans are actually in
38:44
Speaker 1: the middle of this craft. Now watch this. White Americans
38:48
Speaker 1: seventy nine thousand, seven nine hundred and thirty three dollars.
38:52
Speaker 1: Nigerian Americans seventy eight thousand and five dollars a year,
38:58
Speaker 1: right next to white American. Did you get that? Brazilian
39:02
Speaker 1: Americans seventy three thousand, two hundred and eighty five dollars
39:05
Speaker 1: a year. Mexican American sixty six thousand, fortua eighty one
39:08
Speaker 1: dollars a year. Yes, Mexican Americans. Everybody's talking mess about
39:12
Speaker 1: the folks who came here honestly, got their credentials and
39:15
Speaker 1: worked hard are making sixty six thousand for to eighty
39:18
Speaker 1: one dollars a year for their median household income and
39:22
Speaker 1: contributing Hispanic Latin American sixty five thousand and eighty two
39:27
Speaker 1: dollars a year, the average American sixty three thousand, eight
39:31
Speaker 1: hundred and twenty two. I guess if you average all
39:34
Speaker 1: everybody out on a graph, Native Americans fifty eight thousand,
39:38
Speaker 1: eighty two dollars, hello, Hold on, African Americans fifty one thousand,
39:44
Speaker 1: three hundred and seventy four dollars a year. That's the
39:47
Speaker 1: end of the graph. Did you get it? That then
39:50
Speaker 1: aligns with what I just told you about Boston, and
39:52
Speaker 1: we're brilliant, like I'm African American, We're brilliant. And then
39:56
Speaker 1: the average fan worth of African Americans and scheduled by
40:00
Speaker 1: twenty fifty two to twenty fifty three to be about
40:03
Speaker 1: zero because we don't own homes forty one to thirty
40:07
Speaker 1: three percent of us own homes. We're not involved in
40:09
Speaker 1: the free er fries and the capitalist system. Beyond professional sports,
40:12
Speaker 1: the arts, and a few other categories, we're debating things
40:18
Speaker 1: that are stupid, like is our banks racism? I mean,
40:21
Speaker 1: we're spending wasting our time on all these ridiculous conversations
40:24
Speaker 1: that don't pay any money and they're not building any Well,
40:29
Speaker 1: we need to get over and get on with and
40:31
Speaker 1: we need to move on and move on. And this
40:34
Speaker 1: graph makes it clear that you can be white. And
40:38
Speaker 1: by the way, this white American category is seventy nine thousand.
40:41
Speaker 1: My guess is it also factors in poor whites. And
40:45
Speaker 1: if you if you pulled out poor whites, poor whites
40:48
Speaker 1: will probably be lower than African Americans. And what happens
40:52
Speaker 1: is you have a if most people who are white
40:54
Speaker 1: American making one hundred and I'm making this up one
40:56
Speaker 1: hundred and two thousand dollars a year. And then you
40:58
Speaker 1: have poor whites making thirty thousands a year. The average
41:01
Speaker 1: might be something like seventy nine thousand dollars a year,
41:04
Speaker 1: and the same would be added by African American gym,
41:06
Speaker 1: somebody like me who's part of the one percent, and
41:09
Speaker 1: you have people are part of the one percent. But
41:10
Speaker 1: that's not enough to offset people making ten thousand and
41:13
Speaker 1: fifteen thousands a year. You average that out and you
41:15
Speaker 1: have fifty one thousand dollars a year. So these are
41:17
Speaker 1: averages again median household actually it's a median household income,
41:22
Speaker 1: not just not even the average, and median household income
41:24
Speaker 1: by ethnicity in the United States of America. So this
41:28
Speaker 1: is complicated people, right, And that doesn't mean the racism
41:32
Speaker 1: is not is not real, doesn't mean that somebody's not
41:34
Speaker 1: trying to wake up and hurt you, doesn't mean that
41:37
Speaker 1: the bank officer you talk to isn't racist. But that
41:41
Speaker 1: doesn't mean the bank is racist. The bank wants to
41:43
Speaker 1: make some money, right, they're don't making money, they go broke,
41:47
Speaker 1: and if they're not lending you money, they may think
41:49
Speaker 1: they're not that lending you money is going to make
41:51
Speaker 1: them go broke. Maybe maybe they have a bad image
41:53
Speaker 1: of you as a person or us as a race.
41:56
Speaker 1: Is that image incorrect? Maybe? Maybe not. The average credit
42:00
Speaker 1: score for African Americans and six point twenty, which is
42:03
Speaker 1: pretty low, actually is the lowest in the country, and
42:08
Speaker 1: we have to fix it. And it's something we can fix.
42:10
Speaker 1: By the way, I can't fix how you treat me
42:12
Speaker 1: or how you feel about me. I can fix my
42:14
Speaker 1: credit score, and we're doing it at Operation Hope. Now,
42:17
Speaker 1: let me wrap this up by talking about the largest
42:22
Speaker 1: group of poverty in this country, just to put a
42:26
Speaker 1: nail in this coffin, which are poor whites, not African Americans.
42:31
Speaker 1: The number one group of poverty in this country are
42:33
Speaker 1: poor whites, right, And the number one group dying are
42:38
Speaker 1: lasting my check or high school educated white men dying
42:42
Speaker 1: of depression through opioid addiction and other things, but basically
42:46
Speaker 1: just depression and poor whites and African Americans we're friends.
42:51
Speaker 1: Did you know that? That's right? In sixteen early sixteen,
42:56
Speaker 1: hundreds African Americans and poor whites came here as in
42:58
Speaker 1: dented servants, and they worked together and became friends and
43:02
Speaker 1: ran away together, and when they got called, the overseers
43:07
Speaker 1: were like, hey, boss, we got a problem. These folks
43:09
Speaker 1: are getting along and they like each other. And the
43:13
Speaker 1: boss was like, what's the problem with that. The overseer
43:15
Speaker 1: was like, well, we can have a race problem, but
43:18
Speaker 1: we cannot have a class problem because we're in the class.
43:22
Speaker 1: They got to attack us, and they figured this thing out.
43:25
Speaker 1: So they took the whites and said, look, you ran away.
43:27
Speaker 1: You can't do that. You need two more years of
43:29
Speaker 1: attention servitude. Don't do that again. And by the way,
43:33
Speaker 1: you know you're white like us. That word was, by
43:35
Speaker 1: the way, the word was made up. The racial word
43:38
Speaker 1: white is a made up word. That's right. In five
43:41
Speaker 1: billion years in the world history, four billion years of
43:44
Speaker 1: organism life in this world, two hundred million years of
43:49
Speaker 1: quote end quote human life Neanderthal, etc. One hundred thousand
43:54
Speaker 1: give or take years of modern life human life and
43:59
Speaker 1: recorded history is we know it. You know, from the
44:01
Speaker 1: biblical period a few thousand years and there's eight big
44:05
Speaker 1: people on the planet day. By the way, but somehow
44:07
Speaker 1: the word white did not get created to the sixteen
44:10
Speaker 1: hundreds in America. Come on, that's right, you had black royalty,
44:16
Speaker 1: you had blacks in positions of forwork because because for
44:20
Speaker 1: hundreds of years, it's about power and position in the
44:22
Speaker 1: world about your race. You dark in Africa because the
44:25
Speaker 1: sun is direct, and you're white in Europe because the
44:29
Speaker 1: sun's indirect. Anyway, back to the topic, right, that whites
44:33
Speaker 1: and blacks were friends, and they were. It was a
44:35
Speaker 1: conspire and conspiracy to move them away from each other.
44:38
Speaker 1: And they told the whites, you're white like us. Now
44:41
Speaker 1: you're in charge of the black people. Now, these were
44:42
Speaker 1: poor whites who are not highly educated, so they did
44:45
Speaker 1: not ask, well, Boston might wealthy like you do, I
44:48
Speaker 1: have titles like you do, I have land like you do,
44:51
Speaker 1: I have positions like you, then I could be white
44:53
Speaker 1: like you. They didn't ask that question. They just said, okay,
44:55
Speaker 1: I'm white like you. And then they told the blacks,
44:58
Speaker 1: now you're you don't waity more because you're going to
45:01
Speaker 1: have lifetime enslavement, lifetime of work. That's with the beginning
45:07
Speaker 1: of what we call slavery. So now you have a
45:10
Speaker 1: two tiered system. And I guess they also said to
45:13
Speaker 1: the white poor whites, you work hard up your own
45:15
Speaker 1: Some of the blacks so now that goes to friendship,
45:17
Speaker 1: there goes the kinship that goes to bond. That's where.
45:20
Speaker 1: And you've heard of the rebellion that happened in the
45:25
Speaker 1: Believers of late sixteen hundreds, where whites and blacks rebelled
45:27
Speaker 1: against her overseers together. This is documented. And somehow poor
45:32
Speaker 1: whites and poor blacks government opposite ends of each other.
45:35
Speaker 1: And we're still in this stupid argument today. And in
45:38
Speaker 1: many ways, poor whites who were left who succeeded a
45:41
Speaker 1: little bit during the Industrial Revolution, no one taught them
45:44
Speaker 1: free ederprise or capitalism. Either three groups never taught free
45:47
Speaker 1: or prize, capitalism, economics, ownership, and opportunity. Poor whites, American Indians,
45:52
Speaker 1: and African Americans intentionally on my dad, out of hundreds
45:55
Speaker 1: of ethnic groups in this country. So no one taught
45:58
Speaker 1: them that economic peace. But the Industrial Revolution manufacturing saved
46:05
Speaker 1: this group and they got a toe hold into jobs.
46:09
Speaker 1: And with a high school education, we're able to get
46:12
Speaker 1: a decent job working in a factory or whatever and
46:14
Speaker 1: have a pickup truck or a you know, vacation home
46:18
Speaker 1: or you know, the pickle truck was not pejorative. I'm
46:21
Speaker 1: just saying you know the pickup truck or you know,
46:23
Speaker 1: second car, or vacation not vacation home. But if they
46:28
Speaker 1: took a vacation, maybe get a boat or whatever, and
46:31
Speaker 1: they were happy. And so they weren't. And then the
46:33
Speaker 1: industrial revolution walked away, the economy evolved, and no one
46:36
Speaker 1: gave them a business plan for their future. And they
46:38
Speaker 1: were really for fifty years, no one more than fifty years,
46:43
Speaker 1: sixty years plus, no one paid them any attention whatsoever.
46:46
Speaker 1: And now they're riding at the ballot box because they're
46:49
Speaker 1: upset and frustrated. Black folks may ride on the streets,
46:53
Speaker 1: My poor white brothers and sisters are riding at the
46:55
Speaker 1: ballot box. Neither one of them's gonna work. That. Blessans
46:57
Speaker 1: Anger is not a business plan? Is this graph? I
47:00
Speaker 1: just shows you work in detail. It's about your mindset.
47:05
Speaker 1: It's about your education. It's about you understanding how the
47:07
Speaker 1: system works. It's about you focusing on things that are
47:10
Speaker 1: productive and then getting And if you hang around nine
47:12
Speaker 1: broke people, you'll be the tenth. So watching you hang around,
47:15
Speaker 1: watch the toxicity in your life. I need you to focus, John,
47:19
Speaker 1: How do you stay so clearheaded? I walk through life
47:22
Speaker 1: consciously oblivious and most things around me because it just
47:24
Speaker 1: doesn't matter. So we covered a lot of ground on
47:28
Speaker 1: this podcast. Let's have a conversation. Yes, racism is real,
47:31
Speaker 1: of course it is, but your aspiration can outshine somebody
47:36
Speaker 1: else's racism. I'll put it in another way, My rich frenzy,
47:38
Speaker 1: my poor friends do better if only to stay rich,
47:41
Speaker 1: I'll put it. I'll put it in another way or
47:43
Speaker 1: an additional way. Even the racist needs a black person
47:47
Speaker 1: to succeed because we all need GDP gross domestic product
47:50
Speaker 1: to rise. And when GDP rises, everybody prospers. And racism
47:56
Speaker 1: is a bad business plan wherever you find it. It's
47:59
Speaker 1: just stupid for business, and it won't create wealth or
48:02
Speaker 1: opportunity beyond an individual case here or there, But as
48:06
Speaker 1: a group of people, it is a losing proposition. And
48:09
Speaker 1: I'll cover that and break that out in detail in
48:11
Speaker 1: my series The Business Plan for America that you'll hear
48:15
Speaker 1: on this podcast. So enjoy the rest of your day
48:18
Speaker 1: and week and be inspired and know that yes, in
48:21
Speaker 1: spider racism over the rounded, through it, you can get
48:24
Speaker 1: to what you can succeed because the color ultimately is
48:27
Speaker 1: not black or white, or red or blue, as a
48:29
Speaker 1: race in politics, the color actually is green. Hey, Hey,
48:41
Speaker 1: John O'Brien, this is a fan question. What is the
48:44
Speaker 1: best investment you can make at this time? What it
48:47
Speaker 1: appears you already did it. You guess such a unique name.
48:49
Speaker 1: You clearly understand that your best investment is you. We're
48:52
Speaker 1: not human doings, you're human beings. God never gave anybody
48:55
Speaker 1: else the same fingerprints he gave you anybody else in
48:58
Speaker 1: the world. You're unique, So you're the investment. You're the brand.
49:01
Speaker 1: Invest in yourself. Get educated as much education that you
49:04
Speaker 1: can shove down your throat. It's one of my principles
49:07
Speaker 1: of the five pillars success that I put in my
49:11
Speaker 1: whole approach to living The Pillars also Up from Nothing
49:15
Speaker 1: and the memo book that I wrote in my new
49:20
Speaker 1: books Financial Literacy for all, you are the primary product.
49:23
Speaker 1: Get educated and then invest in conservative Well four one k.
49:29
Speaker 1: If you work for somebody else, you want to that
49:31
Speaker 1: at matching money because it's free money. Get the earn
49:35
Speaker 1: income task credit. Well, that's not an investment. Let me
49:37
Speaker 1: back up. Four oh one K. If you work for
49:40
Speaker 1: somebody in the have a matching program, that's found money,
49:42
Speaker 1: that's free money. If you start a business. That's an
49:46
Speaker 1: investment in yourself. Buy some stocks, but make them conservative
49:50
Speaker 1: stocks by doing investing in the mutual fund, even starts
49:53
Speaker 1: investing in the stock market, but do it conservatively with
49:57
Speaker 1: sort of best in class, easy to get, easy to you,
50:00
Speaker 1: manage you know, actually I'm a professional manager. Manage your
50:03
Speaker 1: stocks when you first get it. Don't try to do
50:05
Speaker 1: it yourself until you're comfortable with it, and or buy
50:08
Speaker 1: a home. You got to listen where if you are
50:10
Speaker 1: of adult age, so why renference mighty? Like me, you'd
50:13
Speaker 1: buy something for yourself and see your appreciation happen right
50:19
Speaker 1: in front of you. There are other things you can do,
50:21
Speaker 1: but here these are some easy ones, and essentially all
50:24
Speaker 1: these are versions of me saying, invest in yourself. John
50:28
Speaker 1: O'Brien Love and Life, Money and Wealth with John O'Brien
50:45
Speaker 1: is a production of the Black Effect Podcast Network. For
50:48
Speaker 1: more podcasts from the Black Effect Podcast Network, visit the
50:52
Speaker 1: iHeartRadio app, Apple Podcasts, or wherever you listen to your
50:56
Speaker 1: favorite shows.