The Racial Wealth Gap? It All Comes Down to Black Banks | Amanpour and Company
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- Опубликовано: 2 июн 2024
- Data show that the median white family has 10 times more wealth than the average Black family, a fact grimly familiar to law professor Mehrsa Baradaran. In her award-winning book, “The Color of Money: Black Banks and the Racial Wealth Gap,” she examines how Black communities have been systemically shut out of the banking system - a big brick in the wall of structural racism. Michel Martin speaks with Baradaran about these issues even before the current crises sweeping America. This conversation shows just how prescient her warnings are.
Originally aired on July 15, 2020.
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Amanpour and Company features wide-ranging, in-depth conversations with global thought leaders and cultural influencers on the issues and trends impacting the world each day, from politics, business and technology to arts, science and sports. Christiane Amanpour leads the conversation on global and domestic news from London with contributions by prominent journalists Walter Isaacson, Michel Martin, Alicia Menendez and Hari Sreenivasan from the Tisch WNET Studios at Lincoln Center in New York City.
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Wow. We literally have the answers but the folks that need to watch this wont acknowledge that there's even a problem. Thank you for your bravery professor.
Facts
Exactly 💯🎯
GOD Bless This Woman 😇🙏🏼💞 👍🏼
@epics7 Believe me fam, I love the OG Claud Anderson! The legal community getting behind this is powerful too!
@epics7 Facts!
@epics7 who destroyed black wall street?
So yes the U.S needs to pay reparations. They ow us that.
I read this book a year ago; it is very eye opening. The American banking system is the definition of systemic racism.
I remember when Black people had their own "banks" in urban America. I haven't read the book, but will say this: Black banks went out of business (and also credit unions, most of them attached to churches) because black people didn't pay back their loans. There were a lot of bankruptcies and collections. I was in collections for a retailer and all the collections were black women who had good jobs, but who over spent. Now that there is a online payment system, and there are peer to peer loans, black people don't need to rely on banks for loans. There are ways of getting money working vs. banks. People like the author want to always bring up what happened decades ago. She should talk about "today" and the ways people get money.
LiS Wright, it’s understandable. So tell us more about “peer to peer” banking. Why not establish a black bank online? That could work.
@@Chicago48 does it matter the skin color of a capitalist? Then you don't comprehend economic systems and banking. Banking is a global industry controlled by the same governing entities.
Me too bro. I have the audio book and it blew my wig back. I still go back and listen to it. I believe the book is so powerful that it should be a standard book that AA must read....especially us men!
@@Chicago48 Because what happened to Blks "decades ago" is the reason why the Blk community lacks wealth today. Are you going to sit up here & say what Andrew Johnson did by reneging on Field Order 15 doesn't have a negative impact on us today? Are you gonna say the Blk WWII generation being locked out of the New Deal doesn't have a negative on Blk people today?
The truth ain’t hard to FIND! White Americans love government help as long it’s not called government help. Thank you for a great show
conservatives no, white libs that hate cops yet ,get this, want socialism( where cops have 5 times more power) yes. One further note that may facilitate your extrication of belfry conservatives tend to be constitutionalists because they comprehend the CONSTITUTION is designed to LIMIT BIND and CONTROL the government. This use to be common knowledge but greed is taking over ......wonder if you will figure this out after point of no return and would you be able to admit that you have been duped like a man. what would you do if you loaned someone your brand new car the best whip in the hood for friday night then you found it unrecognizable because of obvious abuse partying whoreing and stunt driveing robbing drive bys full of bullet holes blunt burns soiled underwear used condems throw up piss etc by drunken idiots a week later what would you do?
May Brisbin , so what you saying?
Claiming bankruptcy 10 times is also a government bailout
May Brisbin conservatives are constitutionalist when it benefits them to be... they don’t mind when a US citizens constitutional rights are being violated when that citizen doesn’t look like them or share their political views
Great show indeed. However it neglects to figure inn the majority of white families... who have little to nothing. Information can be translated into whatever anyone wants it to be my friend.
Yes there are big realities concerning black Americans having financial issues. Yet you cannot build credit on social programs. As a white male I have had to spend 10 years building my Credit and saving before have enough of a down payment and the credit to get approved for a mortgage. I had many banks refuse me any help or loans.... And then I have had the privilege of working my ass off 80 hours a week doing what ever I can to pay $4,800 in bills per month.. health care alone for my family is $1,800 per month. And I worked through 7 years of college and never received a penny from the government or my poor parents. Today my family no longer lives in a house because it’s to expensive. We live in a three room apt for past 8 years. I have a bachelors degree and my wife has a masters degree.
I short my life sucks. And you will all find out that this life is not easy and not free. No matter your color there are those who have and those who do not have.
I can’t wait for Black American to rise up and live the life I live. A life of slave labor and zero privilege. Then and only then will black Americans realize the American dream not is the world fare.
Blacks Americans will realize how hard so many work each and every day to survive. Many would beg for welfare and social help after a few years of what many do.
This is why so many cry out for socialism. Freedom is just to hard for most.
Yes we need to end racism... yet this will only happen through mutual respect and love.
Black people have been saying this for years, decades even. When a white woman speaks on it it is somehow revelatory and newsworthy. Amazing
Blacks have been speaking up on the wealth gap for awhile. The whites who are now speaking up on this are just trying to control the narrative
This lady is not white lol.
@@williammckinney9288 what box you think she checked on the census?
@@williammckinney9288 nope. I think she's middle eastern but hey everyone eats off of black people.
Unfortunately in every sphere of life some voices are louder than others regardless of numbers. It's good to have allies with as loud a voice and influence as white people have.
Wow! An academic who is engaged, goes down history on a path less travelled, shares her righteous anger and burning sense of injustice ....and then comes up with a friendly, practical and unthreatening idea like Postal Banking that could be so transformative! Just brilliant!
Along with doing the most important step which to educate us with real facts. She gives tools for critical thinking.
*and attractive? Is this real life?*
William Sandy Darity Economics professor at Duke University has published information for over twenty years on The Racial Wealth Gap and solutions.
@@frozentundra7446 Great reference, thanks! "Baby bonds" was an idea taken up by former British PM Gordon Brown, who was an economist.
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
A person can not move ahead in life without opportunity. You need a chance to grow and thrive. You also need money.
Promblem is was blacks PRISONER OF WAR OR SLAVES OR BOTH? Are they all from Africa or Europe or the Indengious American who was conquered..This is why whites are ahead
@@lapat6105 - 98% of Black Americans are prisoners of war on their own land in America. They are the indigenous ORIGINAL Americans. 2% of Black Americans were captured from Africa.
You work; you earn.
This professor is profoundly brilliant in doing a thorough investigation on the history of economic disparity and highlighting those strong points in such a clear and simplified manner. Her arguments stand firm against opposing view points coming from blacks and whites who frown on the call for reparation. This was an excellent and informative interview very much needed and appreciated.
@Heisenberg-SchrodingerEmc2 I think she's east Indian but yeah your right though.
@epics7 Extremely GOOD point. Many of us (myself included) have the 'SHALLOW' tendency of paying WAY TO MUCH attention to the (messenger) and not enough to the MESSAGE. 😎
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
Lol.. Why black folk think everyone who aint black is white? You think a brown skinned iranian or dark asian indian can join some white hate group here in America? You think they could drink from the "white only" water fountain in the jim crow era?? Lol
And why we get mad when other groups of people tell our story?? Especially when whites tell it. Look- whites listen to WHITES. Although these women aren't white, whites with hatred or disdain towards blacks wont listen to blacks but will wake up when someone white or not black explain the truth about race in this country and we should be glad. If all we do is concentrate on us being ignored, we just want something to be mad about.
I lived in Chester, California in the 70’s. A black family moved in there and a week later a group of teenagers stoned their house late at night breaking all the windows.
The sheriff’s son was one of the teenagers.
My father was the town doctor and sympathetic toward black peoples.
I was a child then an my father was really upset but could do nothing.
The black family moved out immediately.
@Bill S. Probably her point was her father could do nothing as a one man army especially back then, Even whites knew their place in certain situations And knew no to get involved. The sheriff's son... Odds of any justice would've been zero to none. He thought of his family and career.
Merhsa Baradaran is brilliant in this clip. There are way too many people still blaming the victims of historical and current institutional racism instead of the perpetrators.
"The Banker" with Samuel L. Jackson is great movie to watch regarding racism in the banking industry. The movie was never released in theaters as scheduled in 2019.
Really good
Thank you, Sweetlady1916, I was not aware.
We have been cut out of home loans ,,jobs, public housing
So make a black wall street again
@@PamelaTaylor easier said then done.
@@PamelaTaylor why?..the wall street in new york was produced by black slavery..why not claim that one?
@@PamelaTaylor With what money?? This isn't 1910!!
@@Charles-tt3dr get real stop with what MONEY
If one has money for WEED, and HARD Narcotics
Alcohol, different baby mamas meaning more than 15 to17 at rhe age of 23, that right there
will put you into the 14 world of Poverty unless you have drive and ambition and will work any job like cutting grass, or selling oranges in the streets
Doing handyman work
Fixing CARS
WITHOUT drive
Well for some there
anthem will be poverty if one can afford
Tires and swing out rims
That cost a grip
Get together money with family
But most of a certain mind frame will not do cause what once was done
THE parent aren't teaching there children the old fashion ways they're teaching to buy
WIGS, fast FOOD
Ooh yes you CAN HAVE again
Cant always blame other groups
WHO take advantage of schooling
Loans and other moneys that was
Ear Mark for BLACKS
This isnt all but if YOUR back against THE Wall
One way or ANOTHER
You got ro pick up and do
And i am only talking those
Who ARE in thay situations
Wish I was surprised- but expecting the worst from our governments treatment of black people has never turned out better than anticipated. Would love to see this history lesson taught in elementary school, as it should be, and have those kids go home and tell their parents
The different responses of the different parents. In the white homes variations of " That can't be true. Can it?"
You would have a lot of white parents pressuring school administrators to stop pushing anti-American history. People in America don’t like the truth.
@@dubbz1 *Anti-American framing is a spot on reflection of a typical response.*
@@dubbz1 of course. That's the problem with the uncomfortable truth. Societies lie to the public because if they told the truth they'd be torn limb from limb. Not that those in power normally suffer from too much honesty. I think it's a mutual understanding (in a sense subconscious- but still understood) that the govt. will do the dirty work that the people want done. Unfortunately, we have a situation where the govt. and most if not all of the institutions are fulfilling a need that the majority of the public no longer wants done. Puts the govt/ institutions at odds with the public they're supposed to be representing. Trump should have no problem with it, but his inherent nihilism is undermining the biased society he should be strengthening. Kind of funny, in a twisted way. The racist undermining policies he would support if he were aware of them. Fortunately, learning is never on his " to do" list, but unraveling the fabric of our democracy is. The question will be, unless the american people are so monumentally stupid they allow Trump another 4 tears to completely take control of the Justice Dept. and establish himself as a dictator, how do we excise a fundamental way of thinking from a society that is founded on that thought process?
It's been pointed out that there is a large ideological rift between the baby boomers and their children and grandchildren. Shortly the younger people coming into power will be faced with operating a society who's institutions are unable to reflect or act upon the new values that are in ascension.
How will that kind of dissonance play out in the near future?
Exactly...!
@Heisenberg-SchrodingerEmc2 Apparently we agree on the disease and the cure. Just getting the tax code back to the 1980's or maybe 90's would do a lot to rebalance the inequality that's been building up.
Doubtful it will happen- which will mean sometime in the not too distant future another revolution will occur. How will they upgrade the guillotine?
Will it be some kind of focused super virus sent after the gluttonous rich's digital information?
Or will they go Trump on it and really bring the bloody thing back for a more visceral spectacle?
I think Trump is the aesthetic of violence.
That would be the definition of Trumpian: An intentional malignance and urge toward violence.
Read her book along with The Color of Law.
Will do.
@Gold & Diamond Mind Gold & Diamond Mind get her book on the Audible App
Ordered both. Which would you recommend reading first?
That's not her book that's Richard Rothstein's book.
@@isaiahjones6073 Color of Law, her book is great goes back to reconstruction but for me the impact of redlining is more relevant because it didn't matter if we had money or not the government was going to keep us down.
This is why the Mafia went 'legit' and black men went to Attica! Different banking trajectories.
Keep the wealth under wraps like in NC.
Co-housing creates wealth. Own land to counter voter suppression.
Sort of like what Neely Fuller always say. "In the system of racism whyte supremacy, a whyte person is the only person who can legitimately point out racial inequalities. As a black person, you cannot be taking seriously if you point out racism. You have to get a whyte, non black person to point out racism in the system of racism whyte supremacy. It's the unwritten law."
So true
Stop being racist this isn’t isolated
$21 trillion over 30 years is what Americans paid interest on mortgages alone to the banks who get this money for free.
I am furious about this whole foreclosure and evection thing during a pandemic when the wealthy are getting more and more prosperous the banks have been ripping us off for years n years the $21 trillion of just interest on mortgages would have infused a great deal of wealth to a lot of families, let’s get real.
Let’s get rid of interest altogether. And while you’re at it, find another place to get property tax money, not from people's homes.
It's incredible...I just learned more about America & being Black in it in 15 minutes than I ever learned in 12+yrs of public school 👍💯🤷😎
Stop being racist this isn’t isolated it happens to one it happens to all. To effect change, it must be an overwhelming change for every human being; it cannot be isolated, where we go one, we go all.
$21 trillion over 30 years is what Americans paid in interest on mortgages alone to the banks who get this money for free.
I am furious about this whole foreclosure and evection thing during a pandemic when the wealthy are getting more and more prosperous the banks have been ripping us off for years n years the $21 trillion of just interest on mortgages would have infused a great deal of wealth to a lot of families, let’s get real.
Let’s get rid of interest altogether. And while you’re at it, find another place to get property tax money, not from people's homes.
@@alspicer4012 clearly mr Spicer, you failed to hear/understand the lady so watch her again, but this time with an open ear👂 I am Black, never filed a 1040 in my 57yrs of life & raised in the ghetto, places I've never seen you in...those neighborhoods where the RED LINES are drawn around them that tell us where to live/how much to pay..if you were really concerned about your statement, we would see you in Chicago, or in Portland fighting the Feds... I cannot be racist... I can only lash out at those folks tryna use my SKIN COLOR against me to elevate themselves while telling me I'm cursed by being born Black in America..you don't share my experience, so how can you ever qualify to advise me... I now send you back to the lady's words of wisdom..have a pleasant day 💯🔥💪😎
Ok well I suggest you watch rolandmartinunfiltered
And
in class with Karen hunter featuring Dr. Greg carr
This speaks to the resilience of a people.
They don’t hear you tho
We're trying man.
God bless her for exposing the TRUTH. She is a messenger 💯 America is going to keep unraveling and taking this ass whooping judgement. It had it’s chances to get it right and now the last will be first 🔥
Esau will face the brutal judgement from Yahua soon like he is now..we will be first
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
Systematically built for the white race hands down.... Yahua is exposing it all.. Esau's end is in the beginning stages..media denial paints a different picture the last shall be first and the first shall be last
Too much power far too long, they can't be stopped...
This truth has always been exposed. it just people receive truth from different people.
Her book is on my list to read. Love the way she goes into historical facts. As someone who’s been in financial services before, I’ve been hearing this for years. Postal banking is successful in Europe and they had it in China when I lived there. Why is it so hard for America to do this?.. The entire credit system needs an overhaul.. Americans are obsessed with credit because banks tell us we need to be.
The Republican Party doesn't particularly "like" the US Postal Service, and wants to privatize it--to make it a "for profit" organization.
Lisa Michell I'm not so sure that even if you have super great credit you can buy a property that isnt in the black community. That's not the worst of things because there are well to do African American communities.However Stevie Wonder said it best in his song when he said,"you might have the cash but you cannot cash in your face we dont want your kind living here.Thats why we need land, land, land and not desire to be in their neighborhoods.It keeps going back to Tulsa and Durham.We need more than the paperwork and that's necessary(credit, bank loans ect...We need more sophisticated black land developers, contractors and construction workers which have become a dying breed mostly due to racism.Im not that educated on this subject but this is how I see it.Tell me I'm wrong that's cool with me.
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
Now they don’t have to act like they don’t know
Chris Williams like they don’t know what! That you live for free while they work their ass off.. like what they owe you something that has nothing to do with them.... know what?? That you don’t want to work 80 hours a week like they do to make it!
The hatred is real. And anytime we do start in business we're attacked. Folks fight to destroy us and thats just how it is. Doesn't mean we stop trying. But man its old and very tired.
Thank you so much for having the conversation!
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
@@maddog8004 They also get hired more for better paying jobs with less qualifications than a better educated Black person. Many employers will hire a white simply based on their appearance.
@@ladymonacoofthebluepacific2571 I have traveled the world worked all over the world. If you show me a dedicated hard-working Man or Woman that gets along with his co-workers and is on time every day (reliable). No employer gives a dam about the color of their skin. I actually bet it is a lot easier to get a job If you are colored even if less Qualified (lower Standards to hire for Black read up on Affirmative Action ). Check out CNN most police Chiefs are Black Prosecutors as well. A 100% unqualified females become Vice President because of a race bonus. Martin Luther asked for a judgment on character, not color. Work does exactly that.
I stopped watching this before the end, not because I don't believe it but because I have heard it so many times. America how can you be proud of yourselves ???? Have you no heart??
Yes, A Dark, Hateful Heart.
But wait, Black people just scream racism at every turn right? 😂😂😂😂
I know. We've heard it all before. Plus we know it to be true. Cut the damn check and we can get out of here.
@@AAde-or3qz if it didnt exists and yall perpetuating it, we would have to scream it.
@Gold & Diamond Mind Gold & Diamond Mind Amen! You know what? I'm not hopeful that it will ever change. How can a 400-year-old lie ever become truth? A dressed-up lie is still a lie. An eloquently spoken lie is still a lie. If a man continuously beats his wife, then his name is wife beater. My Plan B is in full effect.
Race, is just that. It's a race to stay on top. Every thing they do is a part of the game to stay ahead. Thus keeping the supremacy going. Think about it
Good point!!
That is some deep shit!
It's slavery STILL.
Its called cheating. And its disgusting.
Every thing she said still going on today and now you wonder why we still have it hard.
The case for reparations in 17 minutes.
AS direct payments not programs.
@Good Shepherd
Absolutely Truth 💯🎯💞👍🏼
Which is why Yvette Carnell of ADOS interview with her is also a great watch. Also part of the reason why mainstream liberal media tried to silence/circumvent ADOS, after they pushed reparations to the forefront.
@@toddmaek5436 In my opinion her interview with her focused a lot on discrediting the facts that black banking "doesn't work."
I agree you need politics, but you need the economics. I agree you need both, but if I had to lean one way, I would lean economics, but Yvette would call me a "do for
selfer."
Who cares if the media doesn't give her credit. What she needs to worry about the next phase. After they can't ignore you, they try to destroy you.
@@lamartruth6601 Yvette said multiple times that Blk economics doesn't work without Blk politics. The do for self folk she goes in on are those who say we don't government.
She raises some excellent points, under explored by both socialists and free market capitalists alike. 👏🏽👏🏽👏🏽
"The most significant divide in the country isn't a fracture over race, or for that matter even over gender. It’s between people who are likely to benefit from the current regime of inequality and those who are hurt by it." Adolph Reed
"racially unharmonious" what a scary concept. Explains so much.
Don't be surprised. This is the same country it's always been. There has never been a time in its history where it has intended to be a benefit to Black or Native people. None of us were a consideration when this country was set up. It wasn't founded for our good.
Stop tryna include the native Americans into black struggle their ancestors were never enslaved.
ms renee you’re right, they fought back as we should have and almost entirely wiped out.
Chad Logan You really don’t think that many of our ancestors fought back? You should do some research.
Native Americans also enslaved our ancestors, mixed with us racially, and then excluded our people when they received reparations, while simultaneously allowing whites to claim native ancestry, and its benefits, for a mere $5 ($5 Indians)
Can she get an invite and speak to Congress, please?
Congress won’t listen they are part of the problem!!!! Everyone with a little intelligence can see the truth!!!’ Unless you choose to be BLIND!!!!
It takes a lot of money to run for Congress. Campaign SPENDING limits and removing dark money are the only way to keep money out of politics and direct Congress towards their constituents. Vote for people who support that!
They made the laws. So I wouldn't expect much from congress.
She has testified several times before Congress and works with various elected leaders to formulate their policy proposals. Her work is spreading.
No...they don’t invite credible and credentialed people because it is still the strategy. And why do you think forced vaccines are coming? Do you really think billions are being spent to save “black peoples”?
It’s about land, building affordable homes, businesses.
Why aren’t wealthy black people, athletes buying land to help African Americans.
Oprah Winfrey, Barack Obama, Magic Johnson etc start buying land and building homes.
Giving to charities is not helping people, a meal won’t help people. People need homes, gardens and jobs.
It’s about Land! Land! Land!
Good land, not on flood plains.
I wished, wealthy black Americans could get together and buy land, create real prosperity and lift people out of poverty.
Message, message
Exactly
Dr Claud Anderson
But they shut him down over the years to the point where his books just started selling truckloads after George Floyd. Black people don't really listen to anybody the white media doesn't sanction.
@@AAde-or3qz That idea that "Black People " don't read anything not sanctioned by Whites, is not true, and unless you personally know all Americans of color, unproven...the book has points worthy of exploration. Finding a way to smear Black People is not useful, and has never been fair!
He has been talking about this for years
Dr. William "Sandy" Darity Jr.
#ADOS
Yes. He has spoken about this for decades! He's been B1 forever!
But you forgot what the massachussets gov gave land to irish emigrates without credit scoring.
Credit score is another tool they use to keep black people from getting wealth.
Many aspiring upper lower-income whites who I knew in the 60's and 70's also bought in to the idea that allowing a Black family buy a house into their neighborhood would drive down the worth (selling price) of their property. I, as a young man, saw this happen in the neighborhood in which I lived. After the new money was enticed, sometimes from great distances away, to the bank-controlled area, they realized that their short term evaluations of property would be going up if the gentrification proceeded as planned. This caused even greater racial discrimination in the bank-lending policies, leading to greater reticence from the whites. The banks buying up property and selling this at in this way artificially bolstered prices had great economic reason to do so as there is no limit to the possible profit margin or institution of mechanisms of encouragement to serve the community (and its unalienable definition). To attract dollar-strong "investors" from outside the community who would then drive up prices of other bank-owned property, banks promoted this racist thought and investment thus securing high return in their customer's investment and security for their own speculation. As soon as we allow residential areas to behave as if they are speculation zones in which riches are to be made instead of areas seeking to better satisfy the needs of the already residents and those of the existing community, we've laid the groundwork for an exorbitant change in a community's ethnicity. A more recent example is San Francisco where the rocketing increase of rent prices and low bank-investment for ethnic safeguarding forced the ethnicity there to change, drastically.
I know of two Bodego owners forced illegally out of business - without recourse - and many neighbors of mine forced out by the landlord by torture-tactics (turning off the heat in the winter, not allowing visitors to come in to the house, delaying services, water etc.) enabling them to cheaply "dispose" of lower-income tenants in this gentrifying neighborhood, re-organize the dwelling and selling the apartments then at a huge mark-up as investments for young professionals. This was the area called Park Slope in Brooklyn. The discussion with the Bodego owners and Korean-American vegetable store renters first made me aware of this, though I was much too young to fathom how profound the changes were to become. It hit home when my favorite pub and shopping-center closed and little restaurants sprouted up which were too expensive for me.
Residential areas must be protected from speculation and investments in these communities must be commensurate with the needs of the already existing community. Putting a number on it of 85% with 3-4% profit margin, 5% risk-margin and 5% outside investment. This is just a model.
So true. Gentrification is a euphemistic term for eminent domain. Instead of building a highway through your property they get outside investors to buy up property around you to squeeze you out by increasing your property taxes. The only appreciation in property value is when they are trying to get you to sell , if not they force you out by increasing the property value around you. If and when you get behind in paying your taxes they will send Mr. Charlie...oops. 😂 I mean the master commissioner to seize your property and sell it for pennies on the dollar. A curse upon him who moved his neighbor's boundary stone: the people shall all say, Amen.(Deuteronomy 27:17) Akebulan American Shalom
@@hadassahdaniel2676 says that, "Gentrification is a euphemistic term for eminent domain." Only Eminent domain is a state-protected right and gentrification is "purely" commercial - if one can separate the two, at all. The book and its movie with Henry Fonda "Salt of the Earth" exposed to us so much of this. The idea that the institution which has lent me money will, after a fashion, squeeze me out in order to re-possess the property in order to re-sell to another debter at more lucrative conditions is so very repulsive. One is at the mercy of creditors who have neither interest in their investments' success nor have a caring for the debtors who build their lives around these investments. (Richard Gere showed us how this works in one of his films - I've forgotten the name).
Didnt even read all...but sure its a thumbs down for me.....
@@howardcohen6817 Yes, same monster but different tentacles!
Interesting interview ! Can’t wait to read her book ! Redlining was a shameful policy !
It was exposed decades ago. Why was it allowed to continue?
What's the use of getting her book when we have A system that don't want use to excel and puts things in place to keep us back and the government does nothing. Buying the book won't help. We already know what happened
@epics7 exactly.. We already have book written by black that explain this and much much more are in Dr Clauds books
@Gold & Diamond Mind Gold & Diamond Mind p
The racial wealth gap has absolutely nothing to do with whether or not there are minority banks, and everything to do with the debt cycle which in large part is based upon improper, and disproportionate, taxation. What happens is that money is taken, inappropriately, from individuals through income and payroll taxes, then those persons are offered credit, usually at much higher rates than their rich counterparts, which locks them into a debt cycle that they have no possibility of freeing themselves from. These taxes and interest on debt are disproportionately paid by the poorest, whereas the richest pay little or no personal taxes, and their interest rates are low and in some cases zero!
When a poor person buys a house, they pay 3 times for that house because of taxes and interest, but when a rich person buys a house they only pay property taxes, which in some cases can be negotiated, and they even may pay less than market value for the house because of market conditions, but the rich will never pay three times for that house that the poor will be required to pay.
Obviously, Reparations ARE DUE - and MUST BE PAID, pure and simple. The Government is dragging its feet and taking Way Too Long to remedy this!😳
Yea you know. Let's not solve problems in communities and instead just throw money at it. Then we can wipe our hands clean and look the other way. How about no?
Japanese Americans received checks why not Black Americans? Lack of capital and land is Black America most pressing problem.
@@careyivery7690 All the people that got reperations were white even Japanese are considerd white giving us blacks 192k each would end white supremacy and they know that
@@brandonchapman3110 that is not what was said. How is it ok to agree that it makes sense to cheat folks but not to repay them?
@@olfam7197 Japanese were not considered white. They were given reparations because they are, and we're Americans whose civil rights were violated. But this apology was not made without a fight, and in fact never measured up to the level of financial harm. Reparations say, we are sorry, not here is your wealth back...that is impossible, hence the reason, not to do harm in the first place.
That was a fantastic conversation.
So many good ideas to start seeding reparations.
Definitely reading her book!
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
@@maddog8004 Data also shows that whites are 10 times more likely to be hired. The whole point of this video is to show you that whites are not turned down as much as blacks are.
Wow ! She is on point
Data show that the median white family works 10 times more
to earn the wealth, they have more than the average Black family. A fact grimly overlooked in the whole discussion. (in quite a few cases it would be 100% more if you break it down properly but than it would not fit your Narrative)
I'll get her book. A lot of what she is talking about is in the book The Color of Law.
I read this professors book a year or so ago... it’s to this day one of the 5 greatest books I’ve ever read. Good work!
Gold & Diamond Mind Gold & Diamond Mind agreed
@@futurekillerful Which books?
Today I've learned the US Census has a role to play in this and some states don't even allocate budget to it.
US Census is a federally funded agency. I worked for 10 years.
@@katherinejones850 What was it like working there?
Katherine, how is information really used?
She did a very good job breaking all of this down. Reparations can help bridge the wealth gap. Black people have been left out of so much and even in 2020 have a huge hill to climb. Good video
Absolutely excellent.
The Black Authority Unapologetic Uncompromising #CUTTHECHECK
💯
If you guys get a fat check, you will ruin your life with it because you don't know what to do with money. They should think of a much wiser way to pay if anything
@@mr.e1220 Believe Me We Definitely know what to do with the money , have you ever heard of the original Black Wallstreet in Durham, North Carolina? Do me a favor read up on it !!!!!!
If they aint cut the check before, it aint never coming. We gotta make our own check.
@@supadupa6891 exactly. Make your own way out. Nobody deserves a free check.
We have postal banking in France for a long time. Great idea
I agree with those who say teach about this in schools. You can't change what you do know exhists. Wow I learned a lot! So unfair or should I say cruel!
Michel Martin is an excellent interviewer. Miss her show on npr
Cut the check!
This is really hard to listen to, I'm not an American, but I wonder how I'd feel if I were an African American, phew!
@@noirenaturel7797 its really really sad!, if I saw this in a movie, I'd cry my eyes out and to know that it happened and it even is still ongoing, should irk the very soul of any human being , be it white, black ,yellow, green. Its outright wrong.😓
@Ndeye Delgado yes, "try harder"...like Marvin Gaye song says " make you wanna holla', throw up your hands"...
but each generation advanced the movement of equality, freedom
I suggest it would be helpful to study African American history and you will see that many already know they were not being treated fairly. So, when we learn how the process works is helpful, but the results were known about 400 years ago.
The reason for folks to study African American history is the same reason that an African would study Asian or European history because we are living as human being with the same experience of survival and thriving, with very interesting expressions.
Exhausted
Lauren Booker
black americans know massa better than anyone- even themselves!
"The Color of Law": A Forgotten History of How Our Government Segregated America by Richard Rothstein supports some of the contents in this presentation.
The US government need to atone for this!!!
Hahaha
Reparations for the descendants of slaves in America how can you watch this report and say we don't deserve reparations in the form of cash payments
@gary grine I would like to know why you think that the descendants of slaves, Jim Crow, redlining. Do not deserve to be healed and repaired by the government the government that destroyed them?
1. Budgeting (To track your cash flow of income and expenses)
2. Entrepreneurship/Business ownership
(LLCs, Partnership structure, Company structure, Cooperative, Corporation structure, Franchises, Conglomerates, etc)
3. Personal Credit Management & Proper Debt Utilization
4. Consumer Awareness
(Avoid scams and rip offs, couponing, cost comparison, discounts, knowledge of consumer protection laws, consumer advocacy groups (Better Business Bureau), Federal Trade Commission)
5. Comprehension of the U.S. Tax Code
(401Ks, IRAs, HSAs, 1031 exchange in real estate, etc)
6. Life Insurance & Beneficiary/Estate Planning
(When you pass away)
7. Miscellaneous Insurance & Countermeasures
(Automobile, health, residential [homeowners/renters], real estate [landlord], deposits [FDIC; banks; NCUA; credit unions], investments securities [SIPC]; other insurance [flood insurance"], and identity theft countermeasures.
8. Investment in Financial Markets
(stocks, bonds, mutual funds [index funds and exchange traded funds], Initial Public Offerings, derivatives [i.e options, futures, swaps, forwards, etc], foreign currency exchange (FOREX), cryptocurrency [i.e. Bitcoin, etc]
9. Alternative Investments
(Private investments/angel investing/venture capitalist [i.e Shark Tank TV show], hedge funds, peer-to-peer lending, collectables (i.e. wine, art, coins, etc), commodities [i.e. Gold, Silver, crude oil, natural gas, livestock, etc])
10. Real Estate
(home ownership, dry-and-raw land, Real Estate Investment Trust [REIT], REIT Mutual Fund, crowdfunded private real estate [i.e. Fundrise], owning single family residential rental property, owning multi-family residential rental property [i.e. duplex, triplex, quadplex, multiplex], owning apartment complex, owning commercial buildings, tax-lien certificate, fix-and-flip, mortgage note, house hacking, having/investing in a farm, investing in timberland, etc)
All this and it's still a battlefield out here.!!
Great Credit and still we have to jump through hoops to get a mortgage.
Marching doesn't help with THAT?!
Thanks for the conversation, just ordered her book from Barnes and Noble.
Outstanding research and objectively presented. Thank you for your honesty!
What happens in the dark has come to light and it's Ugly to see. My prayer is that God continue to give us strength until He destroys our enemies.
Thank you for this insightful report. As someone from England, i hadn't really noticed that the black communities were segregated by the banks as well as by housing. When the Caribbeans came to England to work they could go to banks but they didn't trust them with their money, so they gathered together and formed groups who pooled their money together, so they knew where and how to get it back and not be afraid to try and buy property or help out other family members or others in the community. Some still do it today. They call it Pardner. Also, with our banking system there aren't that many banks, so we can move money easily and switch to another bank if one isn't performing very well. It's now done mostly online or with contact-less, so you don't need to actually use paper money.
We have a number of banks in the UK,
Tsb, Halifax, Natwest, Santander, HSBC, Metro, Barclays, Virgin, RBS, Lloyds, Scottish Widows. Just to name a few. This is in addition to Building Societies, Skipton, Yorkshire, Coventry etc al.
Pardeners not guaranteed as no safety net if people refuse to pay their share of the Pardner. Unfortunately there is not a level playing field with regards to accessing information on creating wealth, most importantly generational wealth.
Surely it wasn’t just me who got mad watching this
No it isnt only you who is just angry.
Awesome information. It's like a roadmap and explained in a way that was easy to understand for people who are unaware of what The United States has been up to all these years. Without a doubt, America owes African- Americans!
Please share with as many folks you can.
“Pick yourself up by the bootstraps” is the standard reply to inequality 🙄🙄🤷🏾♂️🤷🏾♂️
I've been black all my life and have managed to maintain several brick/mortar and online bank accounts (never an issue). The notion that we're going to construct some alterative black pseudo-banking system to serve the unbanked will never get off the ground. In 2020 the issue here isn't that there aren't banks available in or near many of our neighborhoods, it's that many CHOOSE to be unbanked to avoid garnishments on debts and other financial encumbrances. I would love to see us work harder at resolving the true socioeconomic issues (both internal and external) that have plagued our communities rather than contemplating band-aid postal banking solutions. The true solutions are multifaceted and uncomfortable for many to discuss, but its the only way meaningful progress can be made.
Undoubtedly the issues are multi faceted. Very easy to be criminalised in the USA, which effects black male earnings exponentially. It always starts with the first step though!
Postal Banking existed in Europe for decades and it works!
The Maryland law of 1638 and the 1910 Minnesota Race Covenants laws or Redlining and Jim Crow laws of the North
And there were thriving
Wealthy communities of blacks people despite all that crap
@DAVID yep the Brits way of maintaining White Supremacy
@@PamelaTaylor Unadulterated Uncompromising Unapologetic the Black Authority Dr. Claud Anderson, Prof. Black Truth, #Reparations, #Tangibles2020, #CUTTHECHECK, #MoreFromThom
@DAVID England, Spain, France
It all the same
@@lutherp.smithjr.5842 everyone at the top has always maintained
Egypt
Greece
Rome
The list goes one
Stumbled upon this video and so glad I did. Professor Mehrsa Baradaran I am impressed!!
This is critical to understand and begin to implement
*Cough cough, *SYSTEMIC RACISM*
Yes, systemic indeed. But it's self-serving racism and dynamic.
@@howardcohen6817 Exactly 💯🎯
that's bogus not every answer to black America's problems are racism
Brian Best you’re right, Prison for life and don’t get pregnant or we’re gonna make u die or ur baby
I wish people would speak with more specificity when it comes to race. The "myth" that she talks about when she refers to American capitalism is the one that was planted in the minds of, and perpetrated by white people. Black people always have known the nature of the beast that we are dealing with. All of these books about diversity, racism, injustice, anti-blackness, racial wealth gaps and all of the other gaps are primarily written for white folk. The real data has been written on the bodies of black people for centuries and nobody has cared to read it. We also think that we have to crush these myths before we go forward. Not true...white folks need to crush these myths if they want to join the rest of the human race, however the path to racial justice does not have to go through them, and we don't have to wait until they get of the couch, get therapy, or find the right book to create a semblance of empathy in themselves to bring the world to fruition that WE want to see. Ugh...
Great Information!!!
An eye opener yet soo depressing. The truth that hurts. We (America) really need to do better. Thank you for this podcast.
I wish she was my professor when I was in college. She speaks facts.
On top off all this they'll be telling you to pull up your boot straps!
I'm American but have been living in Austria for a while and they have postal banking here. If youcse, you can receive social service or pension money through the post office. Monthly money used to actually be delivered by the mailman with our mail, but now they deliver a form that you bring to the post office with ID and exchange for cash. You can always have it sent to him account or have an account at the post office, but if not, we can use the post office, which means there's one in almost every neighborhood. It's a good idea.
Great guest. She’s very knowledgeable and transparent.
This sister is dope. Dropping dimes and jewels.
There has never been or can be capitalism in America. Murder and slavery clearly tell you that you do not have capitalism. What you do have is slavery, welfare, and monopoly. In order to have capitalism, you have to have character, fairness, and intelligence and then allow markets to dictate supply and demand and profit. But we have none of that.
I advise you to take a few business courses and experience the world some more. See one of the assets of any business is it's human capital. There are many people with terrible character who hold very important positions because someone views their talents as valuable. And I'm sure a large percentage of them aren't fair . This is why we have administrative and judicial policy against such actions. Many people fail in America due to not comprehending laws and policy and how each specific law or policy impacts them individually.
@@IshtarLinqu You missed my point entirely.
Spoken beautifully by a very intelligent woman.
Unfortunately, regardless of who says it or how it's said, the ignorant will continue to choose to remain ignorant.
That's exactly what every Brotha and Sista needs to hear thank you so much.I would vote for you if you ever ran for President
Interesting, thank you
What an education! These are such eye-opening insights and revelations.
How so?
Wow. I was looking for a quick fix on RUclips, and ended up watching the full interview.
Wherever they are watching,the Big Boyz are like"You better watch your back for writing that book",
Americkkk had it's knee on black folk's sense day one how could we ever advance we need cash that's the bottom line in they eye's we don't need wealth they love seeing black's struggle i think they get a kick outta this..
Because black folks keep giving their earned hard money to anyone beside their own.
@@Farhan917 that's only a small part of it.
Pharaoh Akhenaten your right on point
#CUTTHECHECK
Bottom line.
I saw her 2 weeks ago on Amanpour & Company she breaks it all down, very astutely, yet simply.
We have more than enough fellows and scholars etc. yet we dont have
them speaking to the disparities we face as a people, or to a solution to them. Why do we look to others to do what we can/should do for ourselves?
Yes we do hv professional & scholarly ppl in the Black community, who has this same information, however if they were to speaking on such an issue,they jeopardize their jobs.
Once they are around their white colleagues they are then ostracized/outcasted.
Sometimes truth has a big price tag.
Its amazing when you get someone to tell the truth! What a amazing women Be blessed!
It’s a book called “ working towards whiteness” that’s what the Italians, Irish, white Jewish people did!! When they came to North America
Explains Michel Jackson trying to become WHITE.
@@FM-kl3iu 😂😂👍🏻
amy benje today yes!! Back in 1880-1950 no they weren’t, white Americans aka From Britain only want Europeans from the Northern Europe not Southern Europe!! British people didn’t like Irish people for some reason and they didn’t block them from coming to North America via 1920 immigration act
Who cares, they are ALL EUROPEAN, they are ALL WHITE, TODAY AND BACK THEN...FOH...And they ALL discriminate against black people so what exactly is your point? Smmfh
"I don't think that's a solution to the vast racial wealth gap. I think we need bigger guns for that"
I think i'm in love.
Jesse Klein 😒
Thank you speaking up for black Americans. Need more people like her and dr claude Anderson.
Thank you, great reporting. The finding of your reasearch.
This is one of the reasons why Trump is going after the US Postal service.
We need our own Federal Reserve, the present so called Federal Reserve was built by white men for white men. We need to build capital to support our own community's. And Reparations would be apart of that capital, a central bank to establish a more stable investment for property lending, as well as small business loans. Sincerely! Mic'20 ADOS get involved
Special order#15! Seriously! Mic'20 ADOS South
The issue is, we do not buy from our own community. Rather, we go to a white community to do our businesses. How are we going to progress if we do not help each other in this circumstance?
Stop being racist this isn’t isolated it happens to one it happens to all. To effect change it must be overwhelming change for every not isolated.
$21 trillion over 30 years is what Americans paid interest on mortgages alone to the banks who get this money for free.
I am furious about this whole foreclosure and evection thing during a pandemic when the wealthy are getting more and more prosperous the banks have been ripping us off for years n years the $21 trillion of just interest on mortgages would have infused a great deal of wealth to a lot of families, let’s get real.
Let’s get rid of interest altogether. And while you’re at it, find another place to get property tax money, not from people's homes.
And with what Army will we protect it? Because we know they'll be coming to destroy or take it! Then what about the sellouts who would most likely be on the boards?
You need your own country.
My teacher use your book to teach. Absolutely a fantastic book. I appreciate you ❤️
Wow, this Amanpour woman just spoke of "structural racism", while lately we've heard so much about systemic racism -- a very good distinction to keep in our minds: the starting place to rooting it out of our systems, OFC restructuring needed too.
People think the last day off slavery was the 1st day of bliss and harmony.
I'm only 46 and can remember when my uncle and his very light wife ( who looked white but wasn't) moved into an all white neighborhood.
Let me just say that the fact that they and their children are still alive is a miracle.
Bricks were thrown through their windows. Cars and the house spray painted and vandalised...and it went on for years.
White Americans have either participated in this financial terrorism and know it exists or they've been sheltered from this knowledge by our wonderfully biased history books and they grew up thinking blacks just like living in 3rd world conditions.
Either way...thank God for people like this...not just because she's speaking up. (Many black leaders have been from MLK to Dr. Claude Anderson)
But because she understands that she has the privilege of actually having a voice in a country where black Americans do not.
Are you listening my white friends?
Can I call you friend?
Thank you for pointing this out Professor and thank you too interviewer for opening this door to truth
Love seeing facts brought forth to explain the issues current and past in our country. America is a power house that has constantly shot itself in the foot to ensure certain groups have absolute power and gains in this country. There is enough wealth to go around, but people have you believe that there isn't.
Not only Tulsa, but Rosewood, the massacre in St. Louis in 1917. The massacre in Arkansas in 1919. And many other towns that we built that were burned down, by whites.
Sandown towns are another thing.
Thank you Professor! Thank you Christiane Amanpour. People...if our land is valued for less, buy more of it. Make it nice and coveted. Buy back the block! Invest in your own neighborhoods. Don't sell inner-city neighborhoods. This professor is so on target. Our government complains about reparations, but is quit to supply reparations for Japan, Germany, etc. Love y'all. Let's come together and come up together.