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The Economic Arch of Black America · Money And Wealth With John Hope Bryant

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Speaker 1: Welcome the Money and Wealth with John O'Bryant, a production
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Speaker 1: of The Black Effect Podcast Network and iHeartRadio. Hey, Hey,
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Speaker 1: this is John O'Briant and this is Money and Wealth.
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Speaker 1: I'm so honored to be with you again for another
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Speaker 1: hard hitting episode. And this is also part history, lesson,
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Speaker 1: part business plan, part healing. I really need to think,
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Speaker 1: we need to We have to heal so that we
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Speaker 1: can effectively deal.
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Speaker 2: A lot of what has been done to now.
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Speaker 1: I'm always talking about everybody, success for everybody, but this
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Speaker 1: particular episode is committed and dedicated to African Americans because
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Speaker 1: they're the only group enslaved on American soil, and they lie.
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Speaker 1: We lie at the bottom of the economic equation. Everything negative, unfortunately,
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Speaker 1: are the lowest categories of economic growth. We sit there,
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Speaker 1: including credit scores, home ownership, and a range of other indexes.
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Speaker 1: There's a lot of positives in this story. But we
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Speaker 1: have got to understand how we got here and that
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Speaker 1: we're not this narrative that we've been told that we're
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Speaker 1: somehow unintelligent or idiots or we're lazy, all of which
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Speaker 1: is untrue.
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Speaker 2: So we have to heal so we can deal.
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Speaker 1: But a lot of our story has been bound up
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Speaker 1: in emotions and civil rights, which is essential, by the way, essential.
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Speaker 1: I wouldn't be here without civil rights. My second grade
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Speaker 1: grandfather in response to the Emancipation Proclamation called by Lincoln.
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Speaker 1: His name is George Young. He joined as a slave.
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Speaker 1: He joined the Emancipation Proclamation call for the Emancipation Proclamation
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Speaker 1: to defend the city of Memphis, the same city where
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Speaker 1: Doctor King was assassinated some one hundred years later. So
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Speaker 1: this is personal to me, and I respect civil rights
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Speaker 1: and social justice deeply. I'm not that said. I'm not
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Speaker 1: a civil rights leader. I'm a sivil rights leader. I'm
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Speaker 1: in the suites made possible by those who are in
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Speaker 1: the streets. I think capitalism is a gladiator sport. It's
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Speaker 1: business is not personal. I've been very successful, been very sorry,
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Speaker 1: fortunate to be successful or have a shot at success
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Speaker 1: through the free enterprise system. I've used financial literacy as
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Speaker 1: my weapon. It is the I believe the civil rights
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Speaker 1: issue of this generation. It has worked for me, and
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Speaker 1: so I've endeavored to have it work for you. And
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Speaker 1: when I say you, generally speaking, I mean you everybody.
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Speaker 1: I think that, as doctor King said, I'm here to
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Speaker 1: he said I'm here to red don't redeem the soul
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Speaker 1: of America.
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Speaker 2: He said. He didn't say I'm here to say black people.
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Speaker 1: He said, I'm here to redeem the soul of America
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Speaker 1: from the triple evils of war, racism, and poverty. He
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Speaker 1: thought by helping poor whites, he was helping America. By
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Speaker 1: helping Black Americans, he was helping America. By helping Asians
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Speaker 1: and Latinos and Native American Indians and women and other
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Speaker 1: he was helping American. I agree with him, and I
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Speaker 1: also thought, I think that he thought I'm being a
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Speaker 1: little presumptuous here, but I had good chance talked to Bastiary,
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Speaker 1: Andrew Young and Bernice King and others about this. He
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Speaker 1: thought that also by helping African Americans, it helped America.
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Speaker 1: And by not helping African Americans, you really are defaulting
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Speaker 1: on the constitution, that Bill wrights the dream of America,
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Speaker 1: by defaulting on the promise made to African Americans, the
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Speaker 1: only people in slave in American soil. So in many ways,
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Speaker 1: this question, this lingering question about African Americans, is the
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Speaker 1: stain that just won't go away in this country because
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Speaker 1: we've never really dealt with it. But that's another podcast
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Speaker 1: for another day. There's another book for another day. At
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Speaker 1: some point I write an attempt to write a book
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Speaker 1: to advance this conversation. The time for that is not now.
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Speaker 1: The time for now is action, positive action through healing.
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Speaker 1: So I want you to heal so you can deal,
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Speaker 1: so you can move forward from a surviving mindset to
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Speaker 1: a thriving mindset to a winning and building mindset. And
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Speaker 1: a lot of what's got you off balance is emotions
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Speaker 1: and anger and frustration, and like it's like hugging jello right,
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Speaker 1: you just can't get your hands around it. It's like
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Speaker 1: where's the problem. It's Everywhere's nowhere. You can't get your
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Speaker 1: hands around it. And I think also we've been fighting
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Speaker 1: the wrong battle in the wrong ways. One of the
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Speaker 1: reasons I like math to quote my friend Melody Hops
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Speaker 1: and it's her quote. I want to give her credit
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Speaker 1: for it, this quote. I like math because it doesn't
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Speaker 1: have an opinion. It's not emotional. It is what it is.
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Speaker 1: So I'm going to dedicate this episode to America's GDP
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Speaker 1: and her untapped potential, but also to you if you're
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Speaker 1: African American listening to this, so you know somebody who's
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Speaker 1: people African American tells them to listen to this podcast.
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Speaker 1: We're going to solve four hundred years in less than
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Speaker 1: forty minutes. I'm gonna try to do this really quickly.
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Speaker 1: Hopefully I won't go over forty minutes to an hour
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Speaker 1: for this, because I want you to be able to
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Speaker 1: listen to this while you're driving to work or home,
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Speaker 1: or walking your dog or taking it or exercising. I
5:28
Speaker 1: want you to be able to listen to this and
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Speaker 1: do something else and then pass it on. The episode
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Speaker 1: is called the Economic Arch, the Economic Arc, sorry, the
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Speaker 1: economic arc of Black America, the economic arc of Black
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Speaker 1: America from sixteen nineteen to now.
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Speaker 2: In the Road Forward.
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Speaker 1: I'm gonna explain to you in forty minutes four hundred years.
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Speaker 1: But I'm explaining in a way I believe that no
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Speaker 1: one's ever explained it to you. We're sitting by the
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Speaker 1: way coincidence has gone where remaining Anonymous and Andrew Young
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Speaker 1: Quill were sitting here. I'm sitting here recording this podcast
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Speaker 1: in New Orleans. New Orleans, some would say, and this
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Speaker 1: is a city that played a very impart in American
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Speaker 1: history because the French owned New Orleans and they were
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Speaker 1: going to sell it to America. This is a side story,
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Speaker 1: but it's interesting because I'm here, and because Haiti was
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Speaker 1: such an economic engine for France, it allowed them to
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Speaker 1: go fight wars all around the world. Where Haiti decided
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Speaker 1: to push back. Napoleon's brother oversaw Haiti. The leaders of
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Speaker 1: Haiti pushed back on Napoleon's brother, defeated him. Napoleon came,
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Speaker 1: they defeated him. No one had beat Napoleon ever, accept
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Speaker 1: the Haitians and because of the pain and the struggle
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Speaker 1: in the drama and the trauma, well not the trauma
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Speaker 1: Theatians were traumatized with slavery and oppression, but the economic
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Speaker 1: pain caused to France from the rebellion of one of
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Speaker 1: their most valuable outposts, which at that point was Haiti,
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Speaker 1: caused them to have to respond by not just selling
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Speaker 1: New Orleans to America, they had to sell with the
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Speaker 1: equivalent of thirteen states. It was called the Louisiana purchase.
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Speaker 1: That was directly related to what happened with Haiti. So
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Speaker 1: much for Africans being dumb, stupid, and not valuable, they
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Speaker 1: were valuable enough to create the economic engine for what
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Speaker 1: was then a world leader and caused them to go
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Speaker 1: to war and to proclaim war on Haiti for five
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Speaker 1: hundred years with with a group of European allies who
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Speaker 1: are committed that this would never happen again. And if
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Speaker 1: you look at Haiti today, unfortunately that promise has been kept.
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Speaker 1: You know that Haiti actually pay had to pay reparations
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Speaker 1: to France. It's another it's another taler for another day.
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Speaker 1: Let's fast forward now to helping you to unpack the
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Speaker 1: American story. So we're gonna trace four years of economic history.
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Speaker 1: This is the economic arc of Black America. In forty
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Speaker 1: minutes or so, we're gonna talk about the struggles, the setbacks,
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Speaker 1: and the comeback plan that we can control. This is
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Speaker 1: not a history lesson. This is a power lesson. And
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Speaker 1: we end with the business Plan for Black America, our
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Speaker 1: Blueprint Forward. I wrote this business Plan for Black America,
8:32
Speaker 1: presented it on the fifty seventh anniversary of Doctor King's
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Speaker 1: assassination in Memphis, Tennessee. Please go to dream Forward Comma
8:40
Speaker 1: Operation Hope it can search that or dream Forward Comma,
8:43
Speaker 1: John O'Bryant, Dream Forward, Comma the Business Plan for Black America.
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Speaker 1: You search that it'll come up. Please print that and
8:51
Speaker 1: listen and read that, or read that post this podcast.
8:57
Speaker 1: Here's part one, the foundation of it all. I've done
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Speaker 1: a whole podcast unpacking slavery and the fact that we
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Speaker 1: were not stupid. We're not dumb. We were agricultural geniuses
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Speaker 1: of the land. We were the only folks who could
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Speaker 1: take dead land and bring it back to life again.
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Speaker 1: I'm not going to spend time on this because I
9:18
Speaker 1: dedicated the entire podcast explaining it. A couple podcasts now
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Speaker 1: explain the economics of slavery. Please go back and listen
9:28
Speaker 1: to those prior podcasts. There's one coming up soon also
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Speaker 1: that I think is very interesting, and it talks about
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Speaker 1: the differences between African Americans. African Caribbeans and African Africans
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Speaker 1: were the same but culturally different. And I explain why
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Speaker 1: in my opinion, and what's in the power of us
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Speaker 1: coming back together. But I'm gonna now make a statement
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Speaker 1: that is unique. I think slavery wasn't about race first.
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Speaker 1: It was about economics first. It was bad capitalism. So
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Speaker 1: bad capitalisms where I benefit and you pay a price
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Speaker 1: for it. Good capitalisms where I benefit and you benefit.
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Speaker 1: More so, watching this podcast. Listening to podcast might be
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Speaker 1: good capitalism on your phone that you paid.
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Speaker 2: For listening to music.
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Speaker 1: Buying a hair brush is good capitalism and good entrepreneurship
10:26
Speaker 1: because an entrepreneur made the hair brush, the phone, et cetera.
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Speaker 1: So these are the differentiation between good capitalism and bad capitalism.
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Speaker 1: Enslaved black people were America's first great economic engine. Again,
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Speaker 1: so I'm gonna glaze over some numbers. Come back later
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Speaker 1: on I half time before the podcast is over, and
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Speaker 1: go deeper. The value of black slaves against again people
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Speaker 1: saying we were incidental to history.
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Speaker 2: We're stupid? Where this or that?
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Speaker 1: Okay, hold on, let's look at this from an econo
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Speaker 1: a perspective.
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Speaker 2: The value of black.
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Speaker 1: Slaves in connects of labor alone without pay between the
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Speaker 1: sixteen hundreds and eighteen mid eighteen hundreds is twenty about
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Speaker 1: twenty four trillion dollars in today's money valuation. If you
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Speaker 1: add in this is these are reports, This is now
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Speaker 1: studies from very credible sources. Add in lost opportunity, reasonable
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Speaker 1: conservative estimates of lost opportunity on top of unpaid labor,
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Speaker 1: which is a very reasonable thing to presume. And I'll
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Speaker 1: talk about what those some of that lost opportunity was specifically,
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Speaker 1: that's as much as forty one trillion dollars. And before
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Speaker 1: you start talking about we should go get our reparations,
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Speaker 1: that's a bridge too far, certainly in this current political environment.
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Speaker 1: In any political environment, I think it'll be a tough sale.
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Speaker 1: In the current political environment, I think it's dead on arrival.
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Speaker 1: That's just my opinion. I'm a practical person. I'm not
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Speaker 1: saying whether it's right or wrong or should be. I'm
12:15
Speaker 1: telling you, I want you to vent your life in
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Speaker 1: your lifetime, my lifetime, our children's lifetime, or grandchildren's lifetime.
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Speaker 1: I want you to do something that can be done right.
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Speaker 1: So I'm not going to give you a history lesson.
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Speaker 1: I give you a strategy lesson.
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Speaker 2: Right.
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Speaker 1: The point of history is so that you understand and
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Speaker 1: can understand, can contextualize, can heal, and can now be
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Speaker 1: of clarity of you and see where you can have
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Speaker 1: an impact. And what I'm going to propose to you
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Speaker 1: doesn't require a vote from Congress, does require a majority
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Speaker 1: vote from the US Senate, the House representatives that in
12:51
Speaker 1: the President the United States does not have to sign
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Speaker 1: your legislation or give you dignity. This is something when
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Speaker 1: I get finished, you can do for yourself. Doesn't that
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Speaker 1: feel good?
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Speaker 2: Good? Hello?
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Speaker 1: A friend of mine once told me that it's entirely
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Speaker 1: possible that the only true freedom is financial freedom, because
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Speaker 1: if you get it, unless you mess it up, no
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Speaker 1: one can take it from you. Someone can take your
13:12
Speaker 1: as you're seeing, as you're beginning to see. They can
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Speaker 1: take your political freedom, they can take your social justice freedom,
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Speaker 1: they can take your religious freedom, they can take your
13:20
Speaker 1: physical freedom in some cases. But they can't take your
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Speaker 1: economic freedom unless you mess that up and hand it
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Speaker 1: to them. So let's go back to the framework. The foundation,
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Speaker 1: as I discussed, was rooted in economics, and it was
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Speaker 1: rooted in free labor from black slaves. And we were
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Speaker 1: worth more than railroads, banks in most industry combined. In
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Speaker 1: the mid eighteen hundreds, America industrialized on cotton and labor.
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Speaker 1: Black bodies built the base for that. Let's now get
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Speaker 1: into details the broken promises of freedom. The end of
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Speaker 1: slavery eighteen sixty five, we got emancipation with no land,
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Speaker 1: no tools, no money, which equaled economic limbo. There was
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Speaker 1: Field Action fifteen, which was Savannah, Georgia Secretary of war.
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Speaker 1: In general, Stanton had advanced a discussion with twenty black ministers,
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Speaker 1: asking what do you want after slavery? Did they say
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Speaker 1: they want a welfare program, a handout program? No, they
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Speaker 1: said they want land. They want to do for themselves.
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Speaker 1: And so they were given about allocated about four hundred
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Speaker 1: thousand acres Field Action fifteen January. I believe it was
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Speaker 1: January eighteen sixty five, and that land crested or followed
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Speaker 1: the coast North Carolina, South Carolina, Georgia, Florida, along the coast,
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Speaker 1: which was not great land. But they worked at lance
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Speaker 1: so hard. They were so industrious. They came back and said,
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Speaker 1: my god. A month later, there's so industrious. A thousand
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Speaker 1: folks took control of the land, started working at their
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Speaker 1: so industrious, give them a mule, forty acres and a mule.
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Speaker 1: The bank came after that, which was March third, eighteen
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Speaker 1: sixty five. The Freedman's Bank charted to teach free slaves
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Speaker 1: about money. Just making sure that you're tracking.
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Speaker 2: Me here as we.
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Speaker 1: Build the wall of promise for you and knocked down
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Speaker 1: the wall of ignorance. Promises made land set aside for freemen.
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Speaker 1: Freedmen were destroyed when Abraham Lincoln in April of eighteen
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Speaker 1: sixty five January February March April same year, four months
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Speaker 1: when Lincoln was assassinated for promising, amongst other things, blacks
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Speaker 1: the right to vote, and Booth said, that's a bridge
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Speaker 1: too far. You won't give another speech. This wasn't five years,
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Speaker 1: it was four or five months. Here comes Andrew Johnson,
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Speaker 1: the vice President who was part of the Confederacy, who
16:19
Speaker 1: took over the for Lincoln. I believe this was a
16:21
Speaker 1: second coup by the way, but that's another history discussion
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Speaker 1: another day. I can't prove it. But Andrew Johnson reversed
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Speaker 1: the Field Action fifteen and gave the land back to
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Speaker 1: the Confederate families that owned it in the first place.
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Speaker 1: This is not this is unfortunately literally true. Now why
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Speaker 1: is that important Because in eighteen sixty two, which are
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Speaker 1: three years before this, the Homestead Act was put in
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Speaker 1: place nationwide to allocate what became ten percent of all
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Speaker 1: land in America, two hundred and seventy million acres to
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Speaker 1: anybody to go west.
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Speaker 2: And that was not forty acres.
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Speaker 1: It was in many cases one hundred and sixty acres,
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Speaker 1: in some cases more and ninety nine percent of the
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Speaker 1: allocation of that two hundred and seventy million acres went
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Speaker 1: to white settlers. Now, get this, by the way, the
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Speaker 1: purpose of the Freeman's Bank was to teach free slaves
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Speaker 1: about money financial literacy. And oddly enough, blacks could not
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Speaker 1: get loans from the banks, but the white overseers took
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Speaker 1: loans from the banks, and the bank cratered because of
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Speaker 1: the mismanagement and the corruption from those in Washington who
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Speaker 1: controlled that entity, not because blacks mismanaged it and default
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Speaker 1: on the loans. Actually put their deposits into the bank,
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Speaker 1: and it took decades to get even half that money back. Again,
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Speaker 1: folks say that the country's great or whatever. I'm not debating.
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Speaker 1: I'm just saying, when has it been great? As you'll
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Speaker 1: hear from I mean, when has it been great for
18:08
Speaker 1: African Americans? At what point it's been great for af Americans.
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Speaker 1: We're trying to make our experience great, right, So let's
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Speaker 1: just deal with the facts. The Homestead Act went to
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Speaker 1: mostly white families. And get this, the government hired engineers
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Speaker 1: and helpmates and tutors and encouragers called an affirmative action
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Speaker 1: eighteen sixty two, eighteen sixty five eighteen seventy to help
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Speaker 1: white settlers to seed, to see the land, till the land,
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Speaker 1: to help them to become farmers. They didn't know what
18:44
Speaker 1: they were doing, so the government helped them and gave
18:47
Speaker 1: them support in addition to giving them the land. So
18:49
Speaker 1: you had these sort of outposts all across the country
18:52
Speaker 1: going east to west, south and east to west. That
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Speaker 1: set up a system of development of these first families
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Speaker 1: that end up controlling two hundred and seventy million acres
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Speaker 1: of land. Ninety nine percent of that were to white settlers.
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Speaker 1: Blacks were completely left out of this, or not completely.
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Speaker 1: It was a I think six thousand plots, if my
19:21
Speaker 1: memory serves me correctly, But they were left out of
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Speaker 1: systemic wealth building and denied that opportunity twice.
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Speaker 2: They didn't get a chance to access to.
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Speaker 1: The Homestead Act and the forty acres and the Mule
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Speaker 1: Field Action fifteen was literally reversed. Even though that was
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Speaker 1: you could call that a pilot project. In fact, my
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Speaker 1: second great grandfather would have been denied the Field Action
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Speaker 1: fifteen forty acres of the Mule as they said he
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Speaker 1: was a Union Army.
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Speaker 2: Veteran, one of a few black officers.
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Speaker 1: Now, let's deal with systemic exclusion the twentieth century. You
19:58
Speaker 1: had in nineteen thirt before FAHA, the federal government redlining.
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Speaker 1: This wasn't banks making doing the red lining, this was
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Speaker 1: the federal government. The federal government policy marked black neighborhoods
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Speaker 1: in red meaning no investment. The FAHA Federal Housing Authority
20:18
Speaker 1: had the authority to guaranteed loans for which banks would
20:21
Speaker 1: then would feel comfortable if there was an insurance on
20:25
Speaker 1: the mortgage, which means the banks would not be at
20:28
Speaker 1: risk if the loans defaulted. If the government had authorized
20:32
Speaker 1: that loan with a guarantee, then of course the banks
20:36
Speaker 1: would be happy to make those loans. But the neighborhoods
20:39
Speaker 1: that were red line were not okay for FHA guarantees.
20:43
Speaker 1: Guess where those neighborhoods were Black neighborhoods. So where did
20:47
Speaker 1: the banks go make loans Where there was yellow and
20:52
Speaker 1: green and no green, no one intended. But where it
20:55
Speaker 1: wasn't redline, and those were white neighborhoods, that's where the
21:00
Speaker 1: mortgage insurance went, and that's where the mortgages went. That
21:03
Speaker 1: doesn't mean that the banks were racist. Back to by
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Speaker 1: the way banks in the twentieth century, many of them
21:08
Speaker 1: were racist, but this particular act because they were family controlled,
21:12
Speaker 1: whereas today is very hard to say a bank is
21:14
Speaker 1: races because I own Wells Fargo Stock, Bank of American
21:17
Speaker 1: Stock versus Horizon Stock. You know, I own the truest
21:20
Speaker 1: stock we all in our four oh one k's or
21:22
Speaker 1: whatever we own publicly traded. It's a whole different situation.
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Speaker 1: They just want to make good loans that pay them back.
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Speaker 1: We got to remove the bias in their brain that
21:32
Speaker 1: suggests that we're not good credit risk, which is what
21:34
Speaker 1: in many ways, what I'm doing with Operation Hope is
21:37
Speaker 1: getting the bank out of the no business and back
21:38
Speaker 1: into the yes business at Scale.
21:40
Speaker 2: By the way, what's my mission?
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Speaker 1: My missions is to my life mission at John O'Briant Enterprises,
21:45
Speaker 1: John O'Brian Holdings, Brian Groow Ventures, Operation Hope, Brian Grew.
21:50
Speaker 1: We're to say, Brian goop Digital, Brian all the stuff
21:52
Speaker 1: I'm doing. What's my mission at the holding company to
21:56
Speaker 1: unleash untapped human potential at Scale. I'm a private equity
21:59
Speaker 1: investor in you, and the first investment of private equity
22:04
Speaker 1: in human capital was me and I'm using me to
22:08
Speaker 1: affect you. So Unlesia napped human potential at scale for
22:13
Speaker 1: the purpose of well through creating an economic creating economic
22:17
Speaker 1: plumbings for underserved America. That's primarily Operation Hope that serves
22:21
Speaker 1: all of God's children as the biggest in the country
22:24
Speaker 1: for the purpose of what popping GDP, growing GDP by
22:28
Speaker 1: taking the bottom third of the country and turning them
22:31
Speaker 1: into capitalists and creating a ladder, rebuilding the ladder from
22:35
Speaker 1: the bottom all the way up, putting that ladders, digging
22:38
Speaker 1: it in the ground, and letting you step on that
22:40
Speaker 1: ladder through your self determination and go up that ladder
22:43
Speaker 1: to become owners of society. And the case of black
22:47
Speaker 1: folks is not just black lives matter, Black capitalists matter, Okay.
22:53
Speaker 1: And so this is very systemic for me because I
22:56
Speaker 1: think the financial literacy is a civil rights issue with
22:58
Speaker 1: this generation.
22:59
Speaker 2: And I think that.
23:01
Speaker 1: We've got to go from the streets to the suites.
23:03
Speaker 1: We need green rooms to match the red ones. Red
23:05
Speaker 1: ones are identifying institutions and people and organizations and acts
23:10
Speaker 1: that hurt good people with bad things. I think we
23:13
Speaker 1: need green rooms that green light good things for good people,
23:17
Speaker 1: like internships, apprenticeships acts as the capital access opportunity, positive
23:20
Speaker 1: tax policy, et cetera, et cetera, et cetera. So redlining
23:26
Speaker 1: FAHA in the nineteen thirties of federal government was of
23:30
Speaker 1: course antithetical to what I'm talking about. It restricted black
23:35
Speaker 1: wealth creation. That's why you have today white neighborhoods that
23:40
Speaker 1: are multiple times more valuable fifteen minutes away from a
23:44
Speaker 1: black neighborhood that has a depressed value. Because this legacy
23:48
Speaker 1: lives on that started in nineteen thirty four with the
23:52
Speaker 1: FAHA in red lining. You have the GI Bill in
23:55
Speaker 1: nineteen forty four. Yes, the GI Bill is nothing wrong
23:58
Speaker 1: with the GI Bill itself. Actually think it's a great thing.
24:02
Speaker 1: But it helped again overwhelmingly, just like the Homestead Act
24:06
Speaker 1: ninety nine ninety eight percent, some crazy number in the nineties,
24:11
Speaker 1: overwhelming white veterans to build the white middle class, even
24:15
Speaker 1: though there were tons of black people fighting for their
24:19
Speaker 1: country that wasn't protecting them. By the way, in the
24:22
Speaker 1: nineteen forties, in World War Two, ninety nine percent of
24:26
Speaker 1: black veterans denied benefits for home loans and college access,
24:30
Speaker 1: not a handout. It was their right, it was their privilege,
24:34
Speaker 1: it was their benefit and once again denied again. Don't
24:38
Speaker 1: trust me on all this. With all the technology in
24:40
Speaker 1: your hand today you have a phone, make it a smartphone,
24:42
Speaker 1: not a dumb phone. Research this yourself, confirm what I'm
24:46
Speaker 1: telling you. But when you start to see these bricks
24:50
Speaker 1: add up, you'll see the wall of resistance against your progress.
24:56
Speaker 1: You're not dumb, and you're not stupid. It's what you
24:57
Speaker 1: don't know that you don't know is killing you, but
24:59
Speaker 1: you think you now. I don't want you to get mad.
25:01
Speaker 1: I want you to get even because I'm going to
25:03
Speaker 1: tell you a strategy that's going to allow you to
25:05
Speaker 1: go forward and let this.
25:07
Speaker 2: Be your season.
25:10
Speaker 1: Doctor King One said that hate and evil, something I'm paraphrasing,
25:16
Speaker 1: has within it the seeds of its own destruction. So
25:19
Speaker 1: I don't want you filled with hate. I don't want
25:21
Speaker 1: you pervying negative energy. I don't want you attacking anybody
25:26
Speaker 1: or going ham on somebody because of this thing. I'm
25:29
Speaker 1: telling you. That's not a productive use of your energy,
25:33
Speaker 1: your time, and disease is often disease. That stuff will
25:37
Speaker 1: jump on you and cause you to rot from the inside.
25:40
Speaker 2: You need to leave that alone. Ly that to God.
25:42
Speaker 1: I want you to follow the light and do what's
25:45
Speaker 1: right over mess, not in it. You know you're having
25:51
Speaker 1: church today listening to the podcast did you Urban Renewal?
25:56
Speaker 1: Black Removal? This is eighteen fifties to nineteen seventies, So highways,
26:01
Speaker 1: slum clearance, displacing thriving black in many cases, thriving black neighborhoods.
26:08
Speaker 1: There were those in South central LA that were thriving.
26:12
Speaker 1: There was a black wall street in South central Lay.
26:14
Speaker 1: Were all across the country, but in many cases they
26:17
Speaker 1: were cleared because they were considered slums, and you and
26:21
Speaker 1: highways were put in their place with no recompense to them,
26:27
Speaker 1: to those who lived in these communities because they had
26:29
Speaker 1: no political power. The story never got corrected, the narrative
26:34
Speaker 1: never got corrected, and history became his story. So again
26:40
Speaker 1: you had black wall streets in Tulsa, Durham, Detroit, Los Angeles, etc. Okay,
26:46
Speaker 1: here's the comeback code, today's opportunity. So I just walked
26:51
Speaker 1: you through and then okay, then you let me finish
26:53
Speaker 1: this narrative. So now you have World War two, You've
26:55
Speaker 1: got that fifties, sent the seventies, and including with that
27:00
Speaker 1: is doctor.
27:01
Speaker 2: King and my mentor Andrew Young.
27:03
Speaker 1: The civil rights movement with Dorothy Heyde, Credit, Scott King,
27:06
Speaker 1: and all the sheroes and heroes who were really framers
27:10
Speaker 1: of a new constitution of justice and freedom, were really
27:16
Speaker 1: architects for continuing America. They were as important as the
27:21
Speaker 1: original framers of America. These civil rights leaders, these heroes
27:25
Speaker 1: and sheros.
27:25
Speaker 2: T T.
27:26
Speaker 1: Vivian and all these amazing heroes who we cannot let
27:30
Speaker 1: history forget.
27:32
Speaker 2: They didn't say black folks.
27:33
Speaker 1: They saved America and provide and ensure that it would
27:36
Speaker 1: continue to be a light on the heel for all
27:38
Speaker 1: people around freedom and opportunity. And President Kennedy and President
27:47
Speaker 1: Johnson advanced policies that were friendly to people of color
27:54
Speaker 1: African Americans, understanding the slight the indignity of that visit
28:00
Speaker 1: it uniquely upon black people. Black people are owing folks
28:04
Speaker 1: enslaved in American soil. This is not my opinion. It's
28:07
Speaker 1: a fact and affirmative action which was created for blacks
28:11
Speaker 1: after doctor King's assassination. Some thought that it went too far.
28:17
Speaker 1: After every reconstruction, by the way, there's a pushback period.
28:20
Speaker 1: So first reconstruction pushback I've already described that second reconstruction.
28:25
Speaker 1: I'm describing that now with what happened doctor you know Kennedy, Johnson,
28:32
Speaker 1: doctor King, doctor King's assassination, Kennedy's assassination, by the way,
28:37
Speaker 1: Bobby Kennedy's assassination, Malcolm X's assassination, a range of other
28:43
Speaker 1: civil rights leaders and other people who just thought this
28:45
Speaker 1: stuff was going too far. It was too much change
28:48
Speaker 1: for society in too many different directions. They'd messed with
28:51
Speaker 1: power structures, and folks had to go. It's had to stop.
28:54
Speaker 1: Some people thought, isn't it interesting by the way that
29:00
Speaker 1: Bobby Kennedy, President Kennedy, and doctor King were all sole
29:05
Speaker 1: assassin theories to this day, three of the most powerful
29:12
Speaker 1: people in the world, but disposedly they were taken out
29:15
Speaker 1: by a lone gunman who was crazy.
29:18
Speaker 2: It's unique.
29:19
Speaker 1: It's nice, neat narratives that most people can get their
29:22
Speaker 1: heads around, and I guess except possibly improbable, but people
29:30
Speaker 1: accept it. Fast forward are the King's assassinated sixty eight
29:35
Speaker 1: April fourth, I believe nineteen sixty eight, Lincoln It was
29:40
Speaker 1: the same month, by the way, about one hundred years earlier. Again,
29:44
Speaker 1: too much truth and benefits of affirmative action, went to
29:48
Speaker 1: white women, which, by the way, I applaud and by
29:51
Speaker 1: the way, white women are well. Sorry, women of all
29:54
Speaker 1: races are of a third of the US GDP give
29:57
Speaker 1: or take today. If we had not done that right,
30:00
Speaker 1: the American economy would be a fraction of its size
30:04
Speaker 1: today and we would not be the economic superpower in
30:06
Speaker 1: the world. And if you're not the economic superpower, you
30:09
Speaker 1: cannot be the political superpower. Hello, if you're not the
30:12
Speaker 1: biggest economy, it's never been superpower. That wasn't the economic
30:15
Speaker 1: power at the same time, it's my point. So there
30:28
Speaker 1: was again pushback in the second reconstruction, and I believe
30:31
Speaker 1: that the third reconstruction started in a twenty twenty the
30:35
Speaker 1: pandemic and George Floyd's murder, and I think it's in
30:38
Speaker 1: the last ten years, but it was interrupted hello, two
30:42
Speaker 1: or three years into all of this so called progress,
30:45
Speaker 1: when many people said, that's just gone way too far.
30:47
Speaker 1: And by the way, some of it did go too far.
30:50
Speaker 1: And I think in many cases African Americans got freedom high,
30:55
Speaker 1: as they would say in the sixties, and start beating
30:58
Speaker 1: their chest and some of this that was just ridiculous,
31:01
Speaker 1: that was said by after Marion leaders I won't get
31:04
Speaker 1: into that. We say very focused, but we got again,
31:07
Speaker 1: they got emotional, they got I think arrogant.
31:10
Speaker 2: I got.
31:12
Speaker 1: Full of the full of I think full of not
31:15
Speaker 1: full of themselves, but full of their sense of that
31:18
Speaker 1: this was their moment and could not be stopped. That also,
31:21
Speaker 1: I think stopped the progress that happened to Haiti. They
31:26
Speaker 1: just too much if they just stopped with the win
31:30
Speaker 1: and didn't go further with right rioting and all kinds
31:33
Speaker 1: of things that they were done to the French in Haiti,
31:35
Speaker 1: and then go over to the Dominican Republic. I think
31:37
Speaker 1: the French, I think the Haitian story would be different.
31:40
Speaker 1: But there was a reaction to that. There's a reaction
31:45
Speaker 1: to what was happening. It happened in the year two thousand.
31:47
Speaker 1: I think defund the police was a very silly policy.
31:51
Speaker 1: You don't want to defund the police. You want to
31:53
Speaker 1: fire bad police. If you can bugging my mother, I'm
31:55
Speaker 1: calling the police. I want you to come get this
31:58
Speaker 1: bad guy or bad woman. So I think they just
32:01
Speaker 1: went too far, and folks were looking for a reason
32:07
Speaker 1: to end the season, and so I don't think it's over,
32:10
Speaker 1: but I think it's been interrupted the third reconstruction, and
32:12
Speaker 1: it's on schedule. This is what happens, but I'm going
32:15
Speaker 1: to give you reason to push right through it. And
32:17
Speaker 1: this uniquely benefits actually America. So this time, this push
32:21
Speaker 1: through might actually work. My rich friends need my poor
32:25
Speaker 1: friends do better, if only to stay rich. The color
32:28
Speaker 1: is not black or white or red blue anymore. The
32:30
Speaker 1: color is green as an economy, as in economics, and
32:35
Speaker 1: coincidence is God's way of remaining anonymous. God really does
32:38
Speaker 1: have a sense of humor. This time, God actually might
32:41
Speaker 1: be literally visible in the business plan in the blueprint
32:47
Speaker 1: for the first time. This country cannot succeed unless all
32:49
Speaker 1: of God's children do too. Because demographics our destiny, and
32:53
Speaker 1: the demographics are today are radically different than they were even.
32:56
Speaker 2: From nineteen fifty two and nineteen fifty two.
32:58
Speaker 1: America's ninety percent caucas which meant that if you had
33:01
Speaker 1: eighty eight percent of blacks, that what doctor King and
33:04
Speaker 1: Andrew Young and Critis Scott King and all these leaders
33:07
Speaker 1: did in that period Rosa, Parks, et cetera was nothing
33:11
Speaker 1: short of ingenious.
33:12
Speaker 2: It was a moral calling.
33:15
Speaker 1: But today America's forty percent black and brown, and within
33:17
Speaker 1: ten years it will be a majority of minorities, et cetera,
33:20
Speaker 1: et cetera. You cannot succeed increasingly unless you make the
33:24
Speaker 1: bottom half, the bottom third capitalists and let them to
33:31
Speaker 1: empower them to be ladder climbers and wealth builders. As
33:38
Speaker 1: the baby boomers leave the field of economic prosperity and
33:42
Speaker 1: go play golf all at the same time, most of
33:45
Speaker 1: them are white, wealthy and trying to retire all as
33:48
Speaker 1: a group. So they need a replacement group. They need
33:50
Speaker 1: a farm club, and it's us the comeback code. Despite
33:58
Speaker 1: these setbacks, Black America still has one point seven trillion
34:01
Speaker 1: dollars an annual buying power despite everything I just told you.
34:04
Speaker 1: So you've had all these sort of negative headwinds, and
34:07
Speaker 1: you have negative I think you have negative head winds now,
34:10
Speaker 1: at least in the political environment. They're not certainly not
34:12
Speaker 1: positive headwinds for African Americans, things like D E and
34:21
Speaker 1: I. I could care less about D and I. With fifth
34:22
Speaker 1: on the list. Why are we making why why are
34:25
Speaker 1: we the poster child for D E and I programs?
34:27
Speaker 1: I've said it before, I'm saying it here like that's
34:30
Speaker 1: a distraction that they from somebody wants you to be
34:33
Speaker 1: the poster child for DNA. Somebody wants you to get emotional.
34:36
Speaker 1: They may want you to go riot. Who knows. I'm
34:38
Speaker 1: glad we didn't do any of that. But it's a
34:40
Speaker 1: distraction because this country doesn't work without diversity. The economy
34:46
Speaker 1: doesn't work without diversity. That's all of God chosen. The
34:49
Speaker 1: most profitable companies are diverse. The most profitable cities in
34:52
Speaker 1: America are diverse. The companies the cities that are you know,
34:57
Speaker 1: dying have are stuck in nineteen fifteen reviews and refused
35:02
Speaker 1: to embrace the future. And the economies reflect that. So
35:07
Speaker 1: you don't need to argue over this. Argue with the
35:09
Speaker 1: food proofs. There are two.
35:13
Speaker 2: Not went out to.
35:14
Speaker 1: My self esteem depends on your acceptance of me like that. Again,
35:17
Speaker 1: I love math because it doesn't have an opinion. So
35:19
Speaker 1: a generation of black professionals, creators, and entrepreneurs are.
35:23
Speaker 2: On the rise.
35:26
Speaker 1: Atlanta is a tenth lars economy in the entire United States.
35:29
Speaker 1: It's not a black city, It's an American city. And
35:32
Speaker 1: Andrew Young, who is the only mayor era mentored by
35:36
Speaker 1: doctor Martin LA King Jr. The last living lieutenant for
35:39
Speaker 1: doctor King is Andrew J.
35:40
Speaker 2: Young.
35:40
Speaker 1: He built Atlanta as the only international city in the
35:43
Speaker 1: South on the back of what Maynor Jackson did creating
35:46
Speaker 1: black wealth, and all the other mayors and leaders who
35:50
Speaker 1: did great things.
35:53
Speaker 2: And should all be noted. Arm current Mayor.
35:56
Speaker 1: Andre Dickens included, who is doing Hope Child Savings Council
36:00
Speaker 1: with Operation Hope as we base Silver Rights s I
36:03
Speaker 1: l V E R in Atlanta for all of our
36:07
Speaker 1: operations and use it as a spring Ford Ford and
36:10
Speaker 1: an ecosystem to show that you can do well and
36:13
Speaker 1: do good to Atlanta's economy is almost as big as Singapore's.
36:17
Speaker 1: It's about the same size business airport in the world.
36:21
Speaker 1: That's the land the international city that Andrew Young built,
36:25
Speaker 1: brought the Olympics there, turned it into an international city
36:29
Speaker 1: and showed that capitalism can be a force for good.
36:37
Speaker 2: But it also is an unbanked city.
36:39
Speaker 1: It's got people was left behind, which again makes the
36:42
Speaker 1: case by the way, that the issue is not today
36:45
Speaker 1: primarily race. You have black wealth in Atlanta, you have
36:47
Speaker 1: Black poverty in Atlanta. If race was everything, wouldn't everybody
36:51
Speaker 1: if black was just targeting black folks when in Atlanta
36:55
Speaker 1: to make sure every black person was successful. But people
36:59
Speaker 1: have got to take advantage of the opportunity. I have
37:02
Speaker 1: to have reasonably good parents, reasonably good access, reasonably good education.
37:06
Speaker 1: And so Atlanta is trying to upgrade its own software
37:10
Speaker 1: in real time while it's still succeeding. If race was
37:14
Speaker 1: the only issue, you wouldn't have the largest population of
37:16
Speaker 1: poverty in this country being poor whites.
37:19
Speaker 2: Hello, all whites, so you would be wealthy.
37:21
Speaker 1: You would not have a differentiation as I've done in
37:23
Speaker 1: another podcast between different black groups Black Africans, black Caribbeans,
37:27
Speaker 1: black Americans. It would just be everybody would be the
37:30
Speaker 1: same net worth or same situation. But culture is different.
37:34
Speaker 1: Do you know, by the way, that the racial word
37:37
Speaker 1: white is a made up word? I want to get
37:41
Speaker 1: to the podcast and my promised time periods. I can't
37:44
Speaker 1: spend a lot of time on this. Maybe I'll double
37:46
Speaker 1: back if I've got a cople minutes the on the
37:48
Speaker 1: back end. But this is this is something I really
37:51
Speaker 1: need you to understand. We fight race, race, race. This
37:54
Speaker 1: is a game before the sixteen hundreds in America, before
37:58
Speaker 1: this word was introduced in Virginia and in Maryland by
38:04
Speaker 1: the planters and those who owned plantations and the traders.
38:08
Speaker 1: This was introduced by them, this racial word white. Before that,
38:12
Speaker 1: the distinctions were you were English, you were Irish, you
38:15
Speaker 1: were part of the royal class, you were a landowner.
38:20
Speaker 1: You were Christian. You were Christian, you were Catholic. It
38:24
Speaker 1: was a descriptor of class, or religion or geographic identity.
38:31
Speaker 1: The racial word white happened because black and white in
38:35
Speaker 1: digit service were getting along, and it all percolated with
38:42
Speaker 1: I think it was called I'm gonna say this is
38:44
Speaker 1: wrong Baker's rebellions. You can look it up. There was
38:48
Speaker 1: a rebellion in the sixteen hundreds. They ran away blacks
38:53
Speaker 1: and whites together. They were caught, and the overseers were like, boss,
38:57
Speaker 1: we got a problem. These blacks and whites are getting along.
39:00
Speaker 1: We cannot have a class riot. We're the class. So
39:03
Speaker 1: let's create racial distinction. So they told the whites, the
39:07
Speaker 1: poor whites, you're poor like You're sorry, you're white like us.
39:10
Speaker 1: And poor whites didn't say, what, yeah, but I'm poor.
39:12
Speaker 1: They didn't say that because they didn't have the education,
39:14
Speaker 1: their experience, or exposure to accepted this rationale. And they
39:19
Speaker 1: were given access to a little bit of land, the
39:24
Speaker 1: ability to own slaves their former friends, and they were
39:29
Speaker 1: put in and they were their digital servitude was limited
39:32
Speaker 1: to a couple of years. Blacks were given in digital
39:35
Speaker 1: servitude for life. That was the beginning of slavery. And
39:37
Speaker 1: you had none of those rights. So there's your class distinction, right,
39:41
Speaker 1: So these friends became nemesis. To this day, this persists,
39:47
Speaker 1: poor whites and poor blacks at each other's throat. Don't
39:50
Speaker 1: trust me on this, do your own research. Literally, this
39:54
Speaker 1: has always been about money, power and position in the world.
39:56
Speaker 1: And somebody made this other stuff up and had us
39:59
Speaker 1: urg viewing over it and fighting over it, and now
40:02
Speaker 1: we're completely distracted by it. It happened again in the
40:05
Speaker 1: nineteen sixties the White Citizens Council, a group of not
40:10
Speaker 1: so nice business people quote inspired the resurgence of the
40:14
Speaker 1: Ku Kus Klan and.
40:18
Speaker 2: Villa Valante groups to go after.
40:24
Speaker 1: Blacks and creating again this poor white against poor black narrative.
40:29
Speaker 1: And the business people who sort of faded back off
40:32
Speaker 1: in the background and handled their business, which was what
40:34
Speaker 1: they were all about in the first place. I'm just
40:36
Speaker 1: trying to promote good capitalism, and there was a lot
40:38
Speaker 1: of good capitalists out there who would love to join
40:42
Speaker 1: me of all races, and some of them are already
40:45
Speaker 1: joining me. We're trying to expand that deep in that
40:48
Speaker 1: and have that be the next movement, a movement for
40:51
Speaker 1: capitalism for good. So we are not starting from scratch,
40:56
Speaker 1: We're starting from history. This is where the installed. But
41:01
Speaker 1: we don't have to forget d I throw it away.
41:07
Speaker 1: We stopped finding about it, stop arguing about it. Right
41:11
Speaker 1: Diversity is your birthright and your strength and your hustle
41:18
Speaker 1: is your advantage. You've been doing so much with so
41:22
Speaker 1: little for so long. You can almost do anything with nothing.
41:25
Speaker 1: So here's the business plan for Black America. Here's the
41:29
Speaker 1: pivot point. Okay, now again, you can argue over reparations
41:34
Speaker 1: if you want to. That's I don't a camel's or
41:38
Speaker 1: horse designed by committee. You're gonna have to get all
41:40
Speaker 1: these folks that you don't control to agree with you
41:44
Speaker 1: and vote and all that kind of stuff. And God
41:46
Speaker 1: bless those who want to pursue that. I don't think
41:49
Speaker 1: it's a viable approach right now. And even if you've
41:53
Speaker 1: got reparations, it wouldn't be anything close to what's owed,
41:56
Speaker 1: which is the literally somewhere between twenty four trillion and
41:59
Speaker 1: forty one trillion. I think you'd get Black and Bever
42:02
Speaker 1: get three hundred billion, maybe six hundred billion in a
42:05
Speaker 1: good day over twenty years. I'm gonna show you how
42:08
Speaker 1: that's a small number in comparison of doing it for yourself.
42:11
Speaker 1: So wealth is not income. Here's the premise, right, Wealth
42:15
Speaker 1: is ownership. Income is like literally making a living. Okay,
42:21
Speaker 1: So the last reconstruction, access to jobs, education, whatever, the
42:25
Speaker 1: secondary reconstruction. The sixties civil rights movement gave you access
42:29
Speaker 1: that gave you ability to cash a check. I want
42:31
Speaker 1: you to now talk about owning the check, Casher. I
42:35
Speaker 1: don't mean that literally, but I want you to talking
42:38
Speaker 1: about writing the check, not just cashing. And I want
42:40
Speaker 1: you to talk about not rocking the mic, but owning
42:44
Speaker 1: the mic in the theater and the stage. Wealth is
42:50
Speaker 1: not income. Wealth is ownership. You build wealth in your sleep,
42:54
Speaker 1: make money during the day. You build wealth in your sleep.
42:56
Speaker 1: Thank you Tony Western for telling me that. Give me
42:58
Speaker 1: that lesson early, my friend Tony Resler, who is a
43:01
Speaker 1: great businessman. The goal is to move Black America from
43:04
Speaker 1: consumers to capitalists. It's not like we try this and
43:08
Speaker 1: it failed. We've just never tried it at scale for
43:11
Speaker 1: twenty twenty five to twenty thirty. I want to raise
43:14
Speaker 1: black credit scores by one hundred points, giving you access
43:17
Speaker 1: to prime credit. Now, if we just do this, just
43:19
Speaker 1: raise credit scores. I know it doesn't sound sexy, but
43:21
Speaker 1: most great things are actually pretty boring. Okay, it's only
43:25
Speaker 1: in the dictionary does it work. Success come before the
43:27
Speaker 1: word work because it's alphabetical. Okay, So if you raise
43:31
Speaker 1: credit scores one hundred points, because the average credit score
43:33
Speaker 1: for African Americans is below six to twenty, which means
43:36
Speaker 1: half of us are locked out of the free enterprise
43:37
Speaker 1: system when we get up in the morning. So we
43:40
Speaker 1: obsess about police brutality and all these other things which
43:42
Speaker 1: are really important, but no one's talking about the fact
43:45
Speaker 1: that half of Black America can't get a decent loan
43:48
Speaker 1: in a car. You can't get a mortgage loan below
43:51
Speaker 1: seven of the credit score. And I just told you
43:53
Speaker 1: they average for us at six twenty. And you can't
43:55
Speaker 1: forget a small business loan. It's risky credit. I don't
43:57
Speaker 1: care how big of a good your idea is. There's
44:00
Speaker 1: no idea, no, no, no bearing on your idea. Your
44:04
Speaker 1: credit score is five eighty six hundred is toe up
44:07
Speaker 1: from the flow up six twenty six'. Ten no one's
44:09
Speaker 1: going to give you prime, credit so you're going to
44:11
Speaker 1: get those who pay who have the least pay the.
44:14
Speaker 1: Most so you're going to get this terrible access to
44:17
Speaker 1: credit at rates that you cannot pay.
44:19
Speaker 2: Back you've got a. Default what do you see in our?
44:20
Speaker 1: Neighborhoods by the, way check, cashers pay day loan, lenders
44:24
Speaker 1: rental own, stores title, lenders liquor, stores pawn, shops fast food,
44:29
Speaker 1: restaurants and a church down the. Street trunk so you
44:32
Speaker 1: don't Go craig create once a. Week by the, way
44:35
Speaker 1: fast food. Restaurants it's not a direct, correlation But i'm
44:39
Speaker 1: convinced that the drive throughs of the fast food restaurants
44:42
Speaker 1: are indirectly inspired by blacks being denied access to the
44:47
Speaker 1: front of the. House you have to go to the,
44:49
Speaker 1: side to the, back to a window to get your.
44:51
Speaker 1: Food back in the nineteen sixties and nineteen, fifties the
44:54
Speaker 1: drive Through. HELLO i can't prove, that but who can
44:59
Speaker 1: deny the correlation is too close to be just purely.
45:05
Speaker 1: Accidental but here's something that is. Truthful the whole nine
45:09
Speaker 1: to one to one, system the whole paramedic. System it's.
45:11
Speaker 1: Black black folks couldn't couldn't go to hospitals and all
45:14
Speaker 1: that kind of. Stuff so we created our own. System
45:16
Speaker 1: by the, way we could argue That uber And lyft
45:18
Speaker 1: were inspired by black the black taxi system then in the,
45:21
Speaker 1: sixties because we couldn't get on the. Buses so we
45:24
Speaker 1: created our own busing system with private cars driving around
45:27
Speaker 1: transportation system they call the black car, system so that
45:31
Speaker 1: we'dn't have to ride on buses that were. Racist and
45:35
Speaker 1: that's was the basis For Doctor king's first. MARCH i
45:37
Speaker 1: shut down the bus company shut, down their revenue bank
45:40
Speaker 1: almost bankrupted. Them that's when they, said, okay okayok To Andrew.
45:43
Speaker 1: Young we went to go meet with one hundred business
45:45
Speaker 1: leaders after a few weeks of. Marching marching should have a,
45:47
Speaker 1: purpose by the, way you don't just, march you don't
45:50
Speaker 1: just protest a. Boycott you should have a, purpose and
45:53
Speaker 1: the purpose should be that everybody. Wins so it's win
45:57
Speaker 1: when and you achieve something otherwise just an emotional outburst or.
46:02
Speaker 1: Whatever so Doctor king would march for the purpose of
46:06
Speaker 1: shutting down the, economy for the purpose of showing economic
46:09
Speaker 1: strength for the purpose of them cutting a deal to
46:13
Speaker 1: get black people access and benefits in. Return and then
46:16
Speaker 1: and he wanted to make sure that whites were not
46:19
Speaker 1: in the business people were not, Dedignified so he would
46:21
Speaker 1: Have Andrew young go meet behind closed doors in a
46:24
Speaker 1: business suit with no media and cut a deal to
46:28
Speaker 1: take down the whites only. Signs did you know that
46:30
Speaker 1: it was all? Economics? Okay so and he didn't want
46:44
Speaker 1: to Even my philosophy is talk without being, offensive listening
46:48
Speaker 1: without being, defensive and always leave even your adversary with
46:51
Speaker 1: their dignity because if you don't spend the rest of
46:53
Speaker 1: their life working to make you, miserable it becomes. Personal
46:56
Speaker 1: back to, so paramedics and all that stuff created by black,
47:01
Speaker 1: people by the, way go do their research is pretty.
47:03
Speaker 1: Fascinating the entire paramedics industry was inspired by and created
47:07
Speaker 1: by black, people and not on one came from, that
47:10
Speaker 1: the emergency response. System so we are, brilliant, Right we're
47:13
Speaker 1: doing so much with so little for so long we
47:15
Speaker 1: can almost do anything with. Nothing and when the rules
47:17
Speaker 1: are published and playing for those level we kill. It the,
47:20
Speaker 1: arts professional, sports, faith, politics we kill. It SO i
47:24
Speaker 1: believe we can succeed. Here, also you just need a.
47:29
Speaker 1: Plan so if you raise your credit score is by
47:32
Speaker 1: one hundred, points if black people do that right from
47:36
Speaker 1: six twenty to seven to, twenty over twenty, years we
47:43
Speaker 1: pop our wealth seven hundred and fifty billion dollars seven
47:46
Speaker 1: hundred and fifty. Billion what DID i say is going
47:48
Speaker 1: to be the booby prize for reparations if you get
47:50
Speaker 1: it at some point three hundred billion to a maximum
47:54
Speaker 1: of six hundred billion over twenty. Years so that's begging
47:57
Speaker 1: the government to do what a fraction of what they should,
47:59
Speaker 1: do in which they probably will never.
48:01
Speaker 2: Do if history is indoo.
48:04
Speaker 1: Communication but you just raise your credit, score which you
48:07
Speaker 1: have to complete control over, yourself you beg anybody does
48:10
Speaker 1: it require a vote For. Congress this requires a vote from,
48:12
Speaker 1: you and you can work With Operation hope and others
48:16
Speaker 1: who do. This this is WHAT I Operation jobe, does
48:17
Speaker 1: raise his credit, scores lowers, debt increases savings so you
48:20
Speaker 1: can get the bank out of the no business back
48:22
Speaker 1: to the s business at. Scale why, banking because you
48:24
Speaker 1: cannot revitalize the community without access to, banking to capital
48:29
Speaker 1: and the people's, capitalists the people's venture, capitalists the people's private.
48:33
Speaker 2: Equity the people's capital source.
48:36
Speaker 1: Is in general banks are in general, Banks but you
48:40
Speaker 1: gotta get the banks to want to say yes to.
48:41
Speaker 1: You that's what we're, Teaching that's what we're. Doing that's
48:43
Speaker 1: why we have four point five billion dollars in capitalists
48:45
Speaker 1: flow to underserve communities with the Strategies i'm talking. About
48:49
Speaker 1: i'm not giving you wolf. Tickets i'm telling you what
48:51
Speaker 1: we have. Done it has. Worked everybody. Wins so you
48:57
Speaker 1: get the credit score. Up that's seentre than fifty billion
49:00
Speaker 1: of wealth. Creation by the, way we do, nothing black
49:03
Speaker 1: wealth will be zero by twenty fifty. Three that has
49:05
Speaker 1: nothing to do with the current political. System that was
49:08
Speaker 1: a statistic five years. Ago if you then use a
49:12
Speaker 1: prime credit to now access home, ownership which stands at
49:15
Speaker 1: forty four percent home ownership rate compared to seventy five
49:17
Speaker 1: percent of our mainstream count of barts and the number
49:19
Speaker 1: one way you do wealth In america is home. Ownership,
49:22
Speaker 1: okay the whole tax policy is designed around becoming a.
49:25
Speaker 1: HOMEOWNER i would do a podcast just on the process
49:28
Speaker 1: start to finish of becoming a, homeowner step by, step
49:33
Speaker 1: by the way other things you want me to talk
49:35
Speaker 1: about on the, podcast leave me comments on social media
49:39
Speaker 1: when you see my, POSTS i read those comments often
49:41
Speaker 1: respond to. Them, so now you become a, homeowner and
49:47
Speaker 1: if you just move from forty four percent to sixty two,
49:49
Speaker 1: percent that's worth about eight hundred billion dollars in wealth.
49:54
Speaker 1: Creation so seventy to fifty eight, billion credit score, increase
49:58
Speaker 1: eight hundred billion home. Ownership that's about one point five.
50:01
Speaker 1: TRILLION i didn't mention the government, yet, right then there's
50:07
Speaker 1: another trillion available by buying. Businesses don't do startups very.
50:11
Speaker 1: Tough i'm not saying not to do. It i'm saying
50:13
Speaker 1: there's an easier route with more of a return and.
50:15
Speaker 1: Investment go buy a business that does not have a
50:21
Speaker 1: plan To you, know there's no plan for that sixty
50:25
Speaker 1: five year old person to give that business to their.
50:28
Speaker 1: Kids the kids don't want. Them they want to Go
50:30
Speaker 1: the kids want to cast the, bonds the, stocks.
50:33
Speaker 2: The.
50:33
Speaker 1: Houses they want to go party with daddy's. Money they
50:36
Speaker 1: don't want to go start. Up they don't want to
50:38
Speaker 1: run daddy's. Business it's too much. Work so you can
50:44
Speaker 1: buy that. Business it's, successful it's, profitable it has cash,
50:48
Speaker 1: flows it has real. Estate is it is the most
50:52
Speaker 1: popular plumbing business in that. Town it is a franchise a.
50:56
Speaker 1: DENTISTS i mean it is the most prominent dentist office
51:00
Speaker 1: in that. Town or whatever that business, is, architect law, firm.
51:04
Speaker 1: Etc go buy. It it is an existing business and
51:08
Speaker 1: that's worth a trillion. Dollars artificial intelligence it's another trillion.
51:12
Speaker 1: DOLLARS i did describe two and a half to almost
51:16
Speaker 1: four trillion dollars of wealth creation that is under your.
51:19
Speaker 2: Control and you don't have to go.
51:20
Speaker 1: Talk to the government or anybody else or get a
51:22
Speaker 1: vote In congress to do. It somebody should talk To,
51:25
Speaker 1: congress by the, way, somebody this is Something congress should be.
51:27
Speaker 1: Doing But i'm just saying it's not What i'm. Doing
51:29
Speaker 1: that's not my. Job my job is teach you how
51:33
Speaker 1: to do for, yourself so you him a political force
51:35
Speaker 1: and you can go fund by the way politicians to
51:39
Speaker 1: being poor people don't have. Lobbyists that's one of the
51:41
Speaker 1: problems that that underserved communities don't have anybody vouching for
51:45
Speaker 1: them promoting their. Interests and you can solve that by
51:50
Speaker 1: doing What i'm talking, now which is to build wealth for.
51:52
Speaker 1: Yourself so owned businesses via acquisition homes and investment portfolios
52:00
Speaker 1: evers to eighty eight, trillion one hundred trillion dollars a
52:02
Speaker 1: well transfer that's coming because baby boomers are retiring all
52:06
Speaker 1: the same. Time and did a whole podcast just on.
52:08
Speaker 1: That here are your key pillars financial literacy at. Scale
52:13
Speaker 1: go To Operation hope will provide scholarships with a thousand
52:16
Speaker 1: dollars over twelve months so to teach you how to
52:19
Speaker 1: become a proper. Capitalist no one taught. You is nothing
52:23
Speaker 1: wrong with. You it's what you don't know that you
52:25
Speaker 1: don't know but you think you. Know no one's ever
52:28
Speaker 1: tried to Take Black america and turn us into capitalists at.
52:31
Speaker 1: Scale there's been a tulsa experience that have been to
52:33
Speaker 1: this experience of that, experience but it's never been our
52:36
Speaker 1: experience in. Total it's not like we tried it and it.
52:40
Speaker 1: Failed we just never tried, it AND i am trying
52:42
Speaker 1: to convince everybody to try. It it's like, saying why
52:46
Speaker 1: SHOULD i Try? God Because god cannot possibly mismanage your
52:49
Speaker 1: life worse than you have give him a. Shot capitalism
52:54
Speaker 1: and democracy are horrible systems except for every other system
53:01
Speaker 1: and by the way its work for everybody. ELSE i
53:03
Speaker 1: joke sometimes and call it the Black we need A
53:05
Speaker 1: Black jewish business. Plan i'm, joking But i'm sort of
53:08
Speaker 1: serious Because jews were distrainated against for six thousand, years
53:12
Speaker 1: didn't didn't have a, home and they were scattered around the,
53:15
Speaker 1: world and they couldn't own.
53:17
Speaker 2: Land it was.
53:17
Speaker 1: Illegal so they, said, well how CAN i control my economic.
53:22
Speaker 1: Destiny let me be financially literate and learn, finance and
53:25
Speaker 1: that allowed them to go buy, land businesses and other thing,
53:28
Speaker 1: things and a very small group people now have enormous
53:31
Speaker 1: power because they took control of their economic. Destinies this
53:35
Speaker 1: is something that we should learn. From we shouldn't be,
53:38
Speaker 1: jealous we should be applauding, them we should be.
53:44
Speaker 2: Copying.
53:44
Speaker 1: Them but capitalism generally has worked for everybody in this
53:48
Speaker 1: country to come. Up every ethnic group and there are
53:50
Speaker 1: almost two hundred of them in this. Country the three
53:52
Speaker 1: groups that were left behind Poor, Whites African, Americans Native American,
53:57
Speaker 1: indians and we enough lack the same levers to Empowerment
54:06
Speaker 1: again another podcast WHERE i break that down home ownership
54:10
Speaker 1: in real, estate stop, rending start building, equity banking, relationships
54:15
Speaker 1: don't just do. APPS i want you to create actual
54:19
Speaker 1: connections with relationship capital at these, banks because banking is
54:23
Speaker 1: a trust business and the work credit comes from the
54:26
Speaker 1: latter room work, creditoe which is. Credibility, right it's a trust.
54:31
Speaker 1: Business and capital comes from the latter word copy toass
54:34
Speaker 1: which means the. Head so it is knowledge in the.
54:36
Speaker 1: Head so isn't thing to do with. Money they have
54:38
Speaker 1: to trust. You you have to have, credibility and they
54:41
Speaker 1: got to feel like you know what you're.
54:42
Speaker 2: Doing, hello financial.
54:44
Speaker 1: Literacy And i've accessed a couple Hundred just one loan
54:48
Speaker 1: was two hundred million dollars of non recourse capital for
54:50
Speaker 1: one of the businesses THAT i sold and recapitalized and
54:55
Speaker 1: doubled down. With i've now, EXITED i mean the process
54:57
Speaker 1: of exiting in that particular business AFTER i sold it
55:00
Speaker 1: for over one hundred million. Dollars BUT i was able
55:03
Speaker 1: to access non pree coourse capital with the power of
55:06
Speaker 1: What i've built the assets underneath it in my, name
55:09
Speaker 1: without having a person put a personal guarantee Of, now
55:11
Speaker 1: that's gangster in the most positive term of. Phrase it's
55:16
Speaker 1: one of the largest access of capitals by a black entrepreneur.
55:22
Speaker 2: In a decade and we can do.
55:27
Speaker 1: It and it was a boring industry of real. Estate
55:30
Speaker 1: it wasn't you, know bet going public or. Something oh
55:33
Speaker 1: that's a great. Thing you, know by the, way that's very.
55:37
Speaker 1: Unique maybe Only Bob johnson and his wife could do.
55:40
Speaker 1: That What i'm telling you everybody can. Do use policy,
55:45
Speaker 1: smartly but don't wait on. It SO i do believe
55:49
Speaker 1: we need groundwater, change groundwater. Effects these policy changes are, really,
55:54
Speaker 1: really really. Important i've made examples of how policy has
55:57
Speaker 1: been used against After americans to come up and very, hurtful,
56:03
Speaker 1: deceitful not even they're not even hiding the. Ball it's.
56:07
Speaker 1: Horrible i'm just, saying don't wait on. It this is
56:11
Speaker 1: a people powered. Plan this is something you can do for.
56:15
Speaker 1: YOURSELF i want you to have a New black manifest.
56:21
Speaker 1: Destiny we can't rewrite, history but we can reroot our.
56:26
Speaker 1: Future we can become, history become the future that you
56:29
Speaker 1: want to see in the. World and the change the
56:32
Speaker 1: economic arc bent against us now it bends back to
56:38
Speaker 1: us and with, us and success for.
56:42
Speaker 2: The country requires. Us it's a beautiful.
56:49
Speaker 1: Saying you can take no pleasure from the fact that
56:51
Speaker 1: there's a hole in my end of our. Boat this
56:54
Speaker 1: country needs it doesn't realize it doesn't realize it, yet
56:58
Speaker 1: but this country and let's we want to Speak mandarin
57:00
Speaker 1: in twenty, years meaning that we want to give in
57:05
Speaker 1: to everyone wants to be An.
57:06
Speaker 2: American But.
57:07
Speaker 1: Americans there is all these there's these four countries that
57:09
Speaker 1: want to take us, Out, Iran North, Korea, russia And.
57:13
Speaker 1: China the only real threat Is, china and they can't
57:18
Speaker 1: win in a fair. Fight they can only win if
57:21
Speaker 1: we shoot ourselves in the, foot we trip each other's,
57:22
Speaker 1: Up we end these little food fights against each, Other
57:25
Speaker 1: american Against. American i'm trying to get you out of
57:27
Speaker 1: that food. Fight we got to figure out whether we're better,
57:30
Speaker 1: Together like any good relationship is multiplication not. Addition twoth
57:33
Speaker 1: plus two sh equals, six eight or. TEN i think
57:35
Speaker 1: the answer to that is, yes AND i think that
57:36
Speaker 1: we will come to that. Conclusion even the races. Wins
57:40
Speaker 1: when black people succeed because THE, gdp the economy goes.
57:43
Speaker 1: Up we're Not if you're not at the, table you're
57:44
Speaker 1: on the. Menu, Right so this is a call to.
57:48
Speaker 1: ACTION i don't want to Speak mandarin in twenty. YEARS
57:50
Speaker 1: i don't think MY i don't think even races want
57:54
Speaker 1: to Speak. Mandarin in twenty, YEARS i think they will
57:55
Speaker 1: hold their nose and SAY i THINK i Like black
57:58
Speaker 1: people if they have to in order to make sure
58:01
Speaker 1: The america is a light on the. Heal so the
58:05
Speaker 1: call to, action and then they may realize they actually
58:08
Speaker 1: liked black people after hanging around and eating our food
58:11
Speaker 1: and listening to our jokes and feeling our. Warmth they're,
58:14
Speaker 1: like you, KNOW i hate to admit, it BUT i
58:16
Speaker 1: really like you. Guys i'm sorry for being so hateful
58:19
Speaker 1: for so, long and we'll forgive them because we're. Loving
58:21
Speaker 1: forgiving people lead judgment To. God here's a call to.
58:25
Speaker 1: Action pick up this business, plan share, it live, it be.
58:30
Speaker 1: It this Is john. O'Brien this Is money And. Wealth
58:35
Speaker 1: this podcast was the economic arc Of Black america from
58:38
Speaker 1: sixteen nineteen to now and the road forward four hundred
58:41
Speaker 1: years and forty.
58:42
Speaker 2: Minutes it was a little than forty, minutes But i'm
58:45
Speaker 2: thinking you got the. Point you can do it in a.
58:47
Speaker 2: Walk share this with.
58:48
Speaker 1: Your people you, love pass us, around printing out that business,
58:52
Speaker 1: plan live it and tell me how you. Doing this
58:55
Speaker 1: Is john. O'Brien go get my Book financial legacy for.
58:57
Speaker 1: All get your scholarship for coaching counseling From Operation hope
59:01
Speaker 1: for one thousand. Dollars get your credit score, up your debt,
59:04
Speaker 1: down your savings up so the bank can say yes
59:06
Speaker 1: to prime credit to you and you have the dignity of.
59:08
Speaker 1: Ownership and by the, way get your artificial intelligence. Knowledge
59:13
Speaker 1: that's another way that will level the planes of, everybody
59:17
Speaker 1: because nine to nine percent of white folks don't know
59:19
Speaker 1: anything ABOUT ai and black nine nine percent Of black
59:21
Speaker 1: folks don't know anything ABOUT ai either other than this.
59:23
Speaker 1: Coming so everything's changing at the same. Time be the
59:26
Speaker 1: change you want to see in the. World get the,
59:28
Speaker 1: book get the tell you friends about the, podcast go
59:30
Speaker 1: To Operation, hope and let's be the change we want
59:32
Speaker 1: to see in the. World this is our time and
59:35
Speaker 1: we need each. Other john, O'Brien i'm out see. You
59:38
Speaker 1: the finish. Line money And wealth With john O'Brien is
59:55
Speaker 1: a production of The Black Effect Podcast. Network for more
59:59
Speaker 1: podcasts from The Black Effect Podcast, network visit The iHeartRadio,
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Speaker 1: App Apple, podcasts or wherever you listen to your favorite.
1:00:06
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