The money: Why Republicans, Democrats, and political action committees ignore black voters …

Strategic Communications

A couple days ago, a 63-year-old black woman called into director/producer Tariq Nasheed’s show suggesting that blacks take a crowd-funding approach to reparations specifically and black political empowerment in general. 

The caller suggested that blacks, rather than waiting on reparations, start a crowd-funding project that raises five dollars from each person in the 40 million plus black community.  The caller also took issue with the term, “white supremacy”.  She argued that she did not see whites as superior and using that phrase only furthered that incorrect perception.  Rather, she believed that the phrase “white domination” was reflective of the actual power dynamic and relationship between American blacks and whites.

Mr Nasheed and a significant number of his YouTube followers hastily discounted her suggestions due to her religiosity and status as an older baby boomer. They also further discredited her idea on account of the very small amount of money (thirteen dollars) garnered by her crowd-funding attempts. Mr Nasheed and a significant number of his supporters also took issue with the caller’s argument that white dominance was a better assessment of the power relationship between blacks and whites than white supremacy.  He argued that she was splitting hairs on semantics and that the reality of the political and social environment is one where whites are calling the shots making the use of the phrase “white supremacy” an appropriate one.

I usually do not leave comments on YouTube videos but felt compelled in this case.  This is what I wrote:

 “Domination” and “supremacy” are not the same. To dominate is an action; to rule or control by superior power. To be supreme is a place; a position of high rank or power. You use a tactic, domination to achieve a strategic position, which is supremacy. The distinction goes way beyond semantics. If you believe whites are “supreme”, then getting them out of that position entails anticipating and directly attacking their tactics for domination. Acknowledging the differences between “supremacy” and “domination” will help to refine your tactics.

From a strategic communications view, the narrative that whites are superior or supreme only engenders apathy amongst blacks.  Sitting in a position of resignation is not where you want to be strategically.  You only set yourself up for further abuse due to sitting in someone else’s narrative.

Blacks can’t afford to be naïve as to where they sit in the power dynamic.  Realizing that no one should be held to sit in a position that is “superior” to them is one thing, but taking the appropriate actions to mitigate positioning is another.  Blacks should be taking practical actions to influence political behavior to their benefit.  The caller’s investment approach is one such pragmatic action.

Investing in influence is a major tactic in the political industry.  You can’t influence the vote or any policy without funding action.  This is the language that the Democrats, Republicans, and political action committees recognize and are receptive to.  Blacks have yet to come to terms with this reality.  While blacks are very good at using social and traditional media to share the “pain and suffering” and “white supremacy” narrative, blacks are deficient when it comes to funding the necessary tactics that make a dent in influence.

Blacks rather be led by media entrepreneurs hawking product versus approaching the political industry for what it is: a political venture capital system that seeks out candidates that can provide the highest political returns.  Priming that system requires making an investment.

 Alton Drew

22 May 2022    

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Peyton Gendron and the ineptness of the black political leadership class …

Shifting to the political portion of the political economy.  The mass shooting in Buffalo, New York where a teen-aged white male by the name of Peyton Gendron exposes an oft overlooked dimension of black politics: we cannot protect our own.

We have been seeing the predictable roll-out of platitudes by the Biden-Harris administration and the expressions of incredulousness on social media by members of the black community with most demanding that “something has to be done.”  The inconvenient truth is that the black community, given its lack of political leverage and ownership of less than two percent of American capital, should not expect anything from a government that does not look like it, does not share its lineage or story, and has no interest in promoting the interests of blacks.

For a person to travel three hours to another city with the expressed purpose of murdering black people should tell black political leaders that there is an intelligence network operating against the black community; that there is an organized war being waged against the black community.  Black political leadership should be asking themselves why a government that can thwart terrorist attacks overseas cannot be as aggressive here at home when it comes to terrorist attacks against black Americans. 

Instead, we get a black leadership that is fast to blame centuries old terrorist attacks on the delusion that the domestic environment of racial violence is orchestrated by one political party.  Never mind that Mr Gendron has been described as a left authoritarian, political nomenclature that would put him in the box along with democratic socialists as well as Nazis.

No. Rather black political leadership prefers to politicize the event for vote getting purposes when it should be asking if there is a system in place to provide citizens warning that a rabid terrorist dog is heading to their community.

The black political class is the last group of individuals that those interested in protecting the physical and emotional integrity of the black community should be looking to for help.

Alton Drew

17 May 2022

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Where Black political leadership failed on Ukraine …

Angus Roxburgh recently wrote an honest and insightful piece for The Guardian about how Western nations can bring about a quicker end to the conflict in Eastern Europe. Mr Roxburgh recommends that all interests of each stakeholder be taken into account in order to reach a resolution.  In the article he states the following:

“To get Putin to the negotiating table at all, everything would have to be up for discussion – including Ukraine’s borders, Russia’s age-old security concerns, perhaps even the very logic of basing today’s international frontiers in that part of Europe on what were internal borders in the USSR, drawn up by communist leaders precisely to prevent Soviet republics and regions from being viable independent states. The outcome of the talks does not need to be predetermined. The important thing is to talk rather than fight.”  

I agree with his assessment.  Americans in general and Black Americans in particular have begun and ended their analysis of the conflict with the mantra of Russia’s “unprovoked” attack on Ukraine.  In the world of geopolitics, I doubt there is such a thing as “unprovoked.”  Most Americans, for example, fail to incorporate into their conclusion that the Japanese attack on Pearl Harbor was unprovoked when history demonstrates that United States’ aggression in the Pacific, particularly the restriction of access by Japan to oil supplies, was enough to rile up the Japanese to embark on a plan to push the United States out of the Pacific.  Japan’s attack was not unprovoked. It was a responsive measure.

A similar argument can be made by Russia.  For decades they have been apprehensive about the West, particularly the North Atlantic Treaty Organization’s encroachment on then Union of Soviet Socialist Republics now Russia’s borders.  The fall of the USSR and NATO’s influence on Eastern Europe has been enough to give Vladimir Putin a few nightmares.  I could make the argument that Mr Putin’s 2022 invasion was also a preemptive strike much like Japan’s preventive strike in 1945.

To make this kind of analysis requires stepping outside of the flashing disco ball and looking at all sides of the issue, especially if the issue has some sort of ramifications economically.  Stepping outside of the issue in order to account for as many factors as possible aids in strategic positioning.  For the black community, applying this rule puts it in a position to garner more tangibles from trading in the political markets.

For example, black political leadership has fallen in lock step with the media and political narrative that the Ukrainians are Luke Skywalker and Russia is represented by the evil Darth Vader.  Black leadership never took on the burden of educating the black community on the factors and environment that turned Anakin Skywalker into Darth Vader.  The overnight conversion of a group of Americans, who on 23 February 2022, couldn’t find Ukraine on a map, into flag waving Ukraine supporters on 24 February 2022 is near stunning. 

Black leadership apparently did what it did best: exchanged aggregated black support for a few political campaign finance crumbs from the leadership of the Democratic and Republican parties. 

True black political leadership would have leveraged black community political and demographic clout on a peace campaign.  Imagine black elected leadership getting 20 million blacks to write their representatives and the leadership of NATO expressing their displeasure with military action; recommending and urging a peace settlement; threatening their own domestic and foreign economic embargo as a response to unfair treatment of blacks in Ukraine; and not participating in the 2022 or 2024 U.S. elections if their demands were not met? 

This kind of leadership could have cemented American blacks not only as a domestic political force but as a player on the world stage.

This kind of leadership calls for vision.  Unfortunately, the black community’s current leadership does not have this kind of vision…  

Alton Drew

3 May 2022

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Black social media documents how not to approach global political power …

Commentary

Being a part of the African Diaspora, it is sad to see how Afro people in America and its Caribbean territories have been analyzing the Russian invasion of Ukraine through emotionally tainted lenses. On Facebook, for example, Afros quickly donned digital banners on their feeds expressing support for Ukraine. Some adopted the left-wing media narrative of tying former US president Donald J. Trump to the actions of Vladimir Putin, an easy low-hanging fruit move by Mr Trump’s detractors given his past expressions of admiration for the Russian Federation president.

The media has inundated Afro people in America and its Caribbean territories with plenty of images that stoke emotional responses. Crying children, concerned parents, people trying to leave on trains, bombed out buildings, and a young Ukrainian president in military garb are the content for countless press photos on Twitter and Facebook. Afros in America and its Caribbean territories dutifully share these photos thus aiding the narrative’s virality. What is puzzling is how Afro people in America and its Caribbean territories have not given any mention or included in their analyses similar actions taken by their own country with plenty of those actions based on contrivances just as grievous or more so than those conjured up by Mr Putin. Here are a few:

  1. The American invasion and occupation of Haiti from 1915 to 1934, under the guise of maintaining law and order so as to prevent European foreign influence in the island-nation.
  2. The American designed and supported Bay of Pigs invasion of Cuba in 1961, under the guise of stemming the influence of the Soviet Union and neutralizing Cuba’s new left-wing dictatorship.
  3. The Kennedy Administration’s implied approval of the assassination of South Vietnamese president Ngo Dinh Diem who had shown himself to be ineffective in garnering the people’s support against the North Vietnamese.
  4. The United States invasion in 1983 of the island-nation of Grenada, pursuant to the assertion that an airport under construction on the island-nation was intended to serve as a staging area for Soviet Union military aircraft. Troops from Jamaica and the Organization of Eastern Caribbean States also participated.

Fast forward to today and the Russian Federation is expressing its concern for possible NATO encroachment on Russia’s borders and that invasion of Ukraine is necessary for mitigating such a threat. Afro people in America and its Caribbean territories have not taken into consideration that they have seen this behavior before on the part of the United States and that such behavior, albeit egregious, is par for the course in world politics.

And it’s not like war on the European continent is that unusual, even today. Blood on the European continent was spilled during the Yugoslav Wars from 1991 to 2001, yet none of the concerns we heard back then come close to the amplification we hear today.

Given our marginal political power status, standing on the sideline and and acting like we are at a Dallas Cowboys cheerleader audition brings no dividends. The only question that should be asked about now is, “How do we benefit from this conflict?” In the short and intermediate run, nada, especially since Ukraine is not a major trading partner of the United States or the Caribbean.

The longer run is a different matter. The removal of certain banks from the Society for Worldwide International Financial Transactions, freezing assets in American and European banks, and the suspension of the Russian stock market should not provide the African Diaspora with any reason to do back flips and shake their pom poms. Quite the opposite. It should make you scared. The world is not western Europe. The populations of China, India, and the continent of Africa alone account for over three billion people. Technology is not limited to the United States. These areas can, with a lot of feasible work, create their own regional, integrated political and economic systems and trade among themselves. If that were to happen, then Afros in America, who already, as a collective. are on the bottom rung will suffer as their US dollar loses more value and poor working families are faced with the increasingly daunting task of keeping food on the table.

Rather than sending “prayers up” for (and to) a bunch of people who, when the dust settles, will be doing better than you, it is time for Afro peoples in America and her Caribbean territories to ask themselves, “How do we prepare?”

Alton Drew

04.03.2022

To counter gentrification, blacks should consider taking on an immigrant mindset …

Commentary

Most Blacks do not know what an American is.  For most Blacks, being an American is a gift that they were born into.  The irony is every day Blacks have to restate their claim to the illusive gifts under the Christmas tree.  In May 2020 the fight was illustrated in protest events sparked by the murder of a Black man, George Floyd, by Minneapolis police.  That a former athlete with some college education under his belt along with eight prior convictions would be a martyr for a social justice cause is not surprising if you look at it from a 30,000-foot level.  Every cause has its Crispus Attucks; the fall guy who comes along at the right time to serve as a lightning rod for some hidden agenda.

And in the case of George Floyd, that hidden agenda, though discoverable with a little thought, boiled down to developing a campaign to buy votes based on the death of a black man.  I have been part of “strategic communications” campaigns before and I can tell you that behind the green curtain there is always a wizard working the levers and pulleys of the show presented on stage.  And the wizard never looks like me.

I was reminded of this fact one afternoon during the summer of 2020 while out with a friend for coffee.  We decided to stay and observe a protest march along Piedmont Street in Midtown Atlanta.  The protest appeared driven by members of the Black Lives Matter movement.  The non-surprising irony was that a slight but obvious majority of the participants were white.  To the untrained narrative finder, this would have been written off as a bunch of white college kids who wanted to make a difference by adding their voices to those of their black brethren and sistren. The gag.

The reality is that what we were observing was an occupation and re-administration of black political space; a colonization of black political thought with the ultimate goal to co-opt a black issue and roll it into another agenda in exchange for unfulfilled promises.  We have seen this before on smaller and larger and brutal scales.

Any action you see on the part of a co-opting party is manifested thought; a vision carried out.  The action generated from the thought of a co-opting party is not reactive.  It does not stem from emotion.  It is a tactical play stemming from well thought out, tried and true strategy.  It is political gentrification of the mind.

Let’s go back to what an American is before fleshing out political gentrification.  To understand what an American is, we need to understand what America is. In my opinion, the best description of what America is can be found in the U.S. Supreme Court’s decision in Johnson & Graham, Lessee v. McIntosh, (1823).  These excerpts made an impression me:

“On the discovery of this immense continent, the great nations of Europe were eager to appropriate to themselves so much of it as they could respectively acquire. Its vast extent offered an ample field to the ambition and enterprise of all, and the character and religion of its inhabitants afforded an apology for considering them as a people over whom the superior genius of Europe might claim an ascendency. The potentates of the old world found no difficulty in convincing themselves that they made ample compensation to the inhabitants of the new by bestowing on them civilization and Christianity in exchange for unlimited independence. But as they were all in pursuit of nearly the same object, it was necessary, in order to avoid conflicting settlements and consequent war with each other, to establish a principle which all should acknowledge as the law by which the right of acquisition, which they all asserted should be regulated as between themselves. This principle was that discovery gave title to the government by whose subjects or by whose authority it was made against all other European governments, which title might be consummated by possession.”

“No one of the powers of Europe gave its full assent to this principle more unequivocally than England. The documents upon this subject are ample and complete. So early as the year 1496, her monarch granted a commission to the Cabots to discover countries then unknown to Christian people and to take possession of them in the name of the King of England. Two years afterwards, Cabot proceeded on this voyage and discovered the continent of North America, along which he sailed as far south as Virginia. To this discovery the English trace their title.”

“The United States, then, has unequivocally acceded to that great and broad rule by which its civilized inhabitants now hold this country. They hold and assert in themselves the title by which it was acquired. They maintain, as all others have maintained, that discovery gave an exclusive right to extinguish the Indian title of occupancy either by purchase or by conquest, and gave also a right to such a degree of sovereignty as the circumstances of the people would allow them to exercise.”

My three takeaways from these and other descriptions of the history of acquisition on the North American continent were, first, America is a vision.  America was a vision where the opportunity to increase wealth was to be had, whether on the part of a merchant seeking new goods, a peasant seeking to own his own land, or a monarch seeking to increase his treasury with more taxes.  European monarchs, merchants, explorers, and peasants had a vision of this new realm in mind, one that matched with their world view and value system, a system based on dividing up the natural world into time, property, and wealth. 

Second, unlike the Native American tribes that negotiated land transfers as a group, the European view toward property transfer was based on individual property rights; the right of the individual or a group of consenting individuals to negotiate on their own behalf.  Individualism, not communitarianism or collectivism, and the freedom to express individualism through the acquisition and disposal of personal property, is at the base of what allegedly makes America.

Last, nowhere to be found in the European vision for America was there any reference to “black” or African philosophy.  Did King James I of England convey any views on the New World in terms of the African perception of time, personhood, or space?  Of course not.  This was a European venture.

There was no African at the side of John Cabot in 1497 egging on the Italian-born explorer of America’s Atlantic coast to view a person as a person through another person.  This communitarian method of assessing world views was not a part of Caboto’s creed.

No African was whispering in the ear of George Calvert, 1st Baron of Baltimore, that he should apply a complimentary method for creating a philosophy that sees all variables impacting all other variables in reality.  To be American, you need to be a descendant of the country’s vision creators.  Blacks are not such descendants.  Black Africans did not view the world through a philosophy that spawned a vision of America.  Blacks are not American.

Alton Drew

02.16.2022

Interbank Market News Scan : A thought on creating an Afro-American currency …

My morning takeaway …

I think a currency should reflect the reality of the relationship between two distinct political economies that reside under a single flag.  I am specifically concerned with two groups under the American flag: Afro-America and the Virgin Islands of the United States.  Neither group have been fully incorporated into the American political economy.  There is only a 47-year difference between their starting attempts at incorporation into the United States with Afro Americans, at least on the surface, holding a lead in political-economic corporation due primarily to their physical presence in the contiguous United States, their 43 million population, and thus greater access to political channels.

Both Virgin Islanders and the Afro-American community have disproportionately higher poverty rates, lower incomes, and higher unemployment rates than their white American counterparts.  Both communities suffer from a dearth of capital and lack productive capacity, for now, through which they could independently sustain themselves.  Their banking markets are, like the rest of the United States, subject to the Federal Reserve, and the lip service of the Fed’s community development initiatives and the Community Reinvestment Act of 1977.

A priori, neither community draws the attention of family offices, hedge funds, investment banks, or individual trading desks in search of margin that supports any trade, including foreign exchange.  This is due primarily to both communities not having sufficient pooled natural and human resources upon which a currency (value or “energy”) can be calculated and leveraged.

Then again, under a credit creation theory of banking, this may not matter where credit, money, margin, are created out of thin air … but more on that at some other time.

In the mean-time I thought it would be interesting to add two proxy foreign exchange rates reflecting the currency of the Virgin Island (USVI) and Afro-American (AfAM) communities.  It is my endeavor, amongst too many others, to develop them in the near future …

20 May 2021

Currency PairsRates as of 2:00 pm GMT 20 May 2021Rates as of 12:44 pm GMT 19 May 2021
GHS/EUR0.14180.1419
GMD/EUR0.01610.0159
NGN/EUR0.00200.0020
SLL/EUR0.00010.0001
KES/EUR0.00750.0076
RWF/EUR0.00080.0008
ZAR/EUR0.05830.0584
MZN/EUR0.01370.0137
XCD/EUR0.30330.3033
USVI/USD0.00010.0001
AfAM/USD0.10000.1000
Source: OANDA, Alton Drew

Links you should follow …

Banks.  Three of the biggest US banking groups want the US Department of Agriculture to reconsider the terms of billions of dollars in planned debt relief for minority farmers, claiming it will cut into banks’ profits — and warn they may have to cut those same farmers off from future loans.  Banks say USDA’s debt forgiveness for minority farmers will cost them money and could affect future loans. Black farmers call that a threat. (msn.com)

Banks. Australian stocks closed higher on Thursday, marking their steepest rise in nearly two weeks, due to gains in tech and banking stocks and upbeat employment data.  Australian shares see best day in nearly 2 weeks on jobless data, banks boost | Nasdaq

Banks. In an effort stemming from the murder of George Floyd and at the behest of a Connecticut state official, a who’s who of financial institutions on Tuesday promised to address the effects of racial disparities in financial services by investing billions of dollars to support Black and Latinx communities. A state treasurer convinced big banks to commit billions of dollars to tackle racial inequities. This is the result. (msn.com)

Banks. Mike Mayo, Wells Fargo Securities senior banking analyst, joins ‘Power Lunch’ to discuss the competition banks could be facing from fintech, the future of bank branches and more. Banks are headed toward record efficiency, says Wells Fargo’s Mike Mayo (msn.com) Banks, central banks, digital currency. Can crypto benefit central banks? 3 ways digital currencies backed by central banks could benefit the global economy, according to Fitch (msn.com)

Central banks. The Bahamas became a global leader in e-money last year when it launched one of the world’s first central bank digital ­currencies—the “sand dollar”—beating China’s “digital renminbi” to the market by six months. How the Tiny Bahamas Beat Global Giants in the E-Currency Race (msn.com)

Opinion: Black Americans and Bitcoin. Playing it Wrong from the Beginning and How to Play it Right Now

A few years ago, I saw a number of Black Americans on Facebook touting bitcoin as the path to wealth. What bothered me that in all the hype being expressed that there was nary a discussion on what currency actual meant. No discussion as to the economics. No discussion as to the political-economic philosophy that undergirds a currency. 2017 saw the bitcoin bubble burst and the chit chat by those same Black Americans faded away like the unrealized gains they promoted.

Bitcoin and other cryptocurrencies have been touted by some proponents as the way to introduce underbanked or unbanked minorities into the credit system. Some Black Americans may have bought into this although the leading Black advocate organizations i.e. National Urban League, NAACP, Color of Change, Multicultural Media, Telecom, and Internet Council, to name a few, have been relatively silent on the benefits of crypto as a banking and payment system. No surprise their since when it comes to technology, Blacks have consistently taken a consumer position versus a producer position. And given that these legacy organizations are lead by the older generation, leadership’s inability to wrap its head around the true underlying economic benefits of cryptocurrency is a direct result of leadership being out of step with technology overall and how technology lies at the core of America’s economic exceptionalism.

In addition to consumerism, Black Americans still emphasize allegiance to the American political economy instead of a more skeptic, independent view of it. Again, its current leadership emphasizes inclusion and diversity as benefits without discussing its costs: that not everyone will benefit from such an approach. A truly inclusive approach to the political economy would be one where Black Americans view themselves not as a community, but as a nation within an American confederation. The advantage of that approach, a national approach, would require that Black Americans re-evaluate the meaning of economic value and the technology or mechanisms for capturing, storing, expressing, and transporting that economic value, particularly in a digital age. Cryptocurrency can be a vehicle for capturing, storing, expressing, and transporting Black economic value.

The upfront work will be the hardest, that being to identify and “mine” that value and quantifying it into a digital asset like cryptocurrency. But by doing so, by tying it to a Black economic engine, Black Americans can provide a blueprint for moving cryptocurrency from merely a speculative commodity to a true currency that can be used in the mainstream to buy and sell any and all goods. Unless crypto can demonstrate its utility in trade, then Nouriel Roubini’s description of cryptocurrency as shit coins will take hold as truly appropriate by most observers. Creating that value means taking a “nationhood” approach. It means connecting all productive assets within Black America to its current banking assets, identifying the economic value within Black America, issuing coin based on that value, ane getting members of its community to buy off on that value.

There are legal and regulatory hurdles, but the biggest hurdle will be cultural and societal. Black Americans will have to take a more courageous approach to Black economic viability and sustainability. The current political-economic structure has failed them and it will be up to Blacks on their own to reimagine the production and distribution of economic value within their communities.

Watching “X-Men: Days of Future Past” through the civil rights movement’s civil war …

I have heard some commenters refer to Stan Lee’s “X-Men” as a treatment of the civil rights movement of the 1960s.  I have never taken to the comparison of black people to “mutants.”  While I acknowledge that Mr Lee may have had a noble cause in starting a discussion on equality, diversity, and the inclusion of different cultures, ethnicities, and creeds into the American melting pot, but to be likened to a plant or animal with inheritable characteristics that differ from those of the parents, leads to questions such as, “Did Mr Lee and the good people at Marvel take a look at the definition?” “Who exactly are the parents that blacks differ from?” “Should we get rid of our inherited and unique characteristics in order to be equal?”

I won’t harp on the above questions too much because for the average movie goer the bandwidth may not be available for considering such social questions beyond the need just to get away and watch an exciting movie for a couple hours.  On the other hand, anyone who has read the comics as a kid or has delved deeply into the Marvel Cinematic Universe tends not to be too put off by the social observations.  Besides, lasting imagery and coming away from each viewing having observed different angles on the characters or the message are characteristics that push a movie toward the classic realm.

I hadn’t seen “X-Men: Days of Future Past in a couple years so revisiting it tonight on the FX channel gave me a chance to go a little deeper into the messaging.  The story was set in two time periods: in 1973 with the central event being the Paris peace talks to bring the Vietnam war to an end; and fifty years later where mutants are brought to the brink of extinction by an army of mechanical sentinels.  The X-Men must reach back telepathically to the past to stop an event that that, if left unchecked, will contribute to the start of the global war on mutants.

Three principal characters stood out such that they caused me to unpack the possible civil rights connection.  “Charles Xavier”, played by Patrick Stewart and James McAvoy; “Erik Lensherr”, played by Ian McKellen and Michael Fassbender; and “Raven Darkholme”, played by Jennifer Lawrence.  Charles Xavier and Erik Lensherr are trying to prevent Raven Darkholme from killing the man who would eventually create the sentinels responsible for near annihilation of mutants.  Raven represented to me the militant arm of the civil rights movement, an arm led by leaders such as Stokely Carmichael, Huey Newton, and Bobby Seale.  Raven, at one point during the story, expresses to Charles her anger and disappointment stemming from his apparent abandonment of his fellow mutants particularly during the period of crisis where mutants were facing an existential threat. This anger and disappointment was also expressed by the more militant arm of the civil rights movement where they saw the non-violent, peace first approach of leaders like Dr. Martin Luther King as ineffective.

I saw Charles as representing the more moderate arm of the civil rights movement.  He did not see violence as the way to forge any peace with non-mutants but did not display to me any naivete of kumbaya and hand holding with non-mutants.  Charles’ preferable approach was to connect all mutants and teach them how to see themselves as great individuals.  While it could be easy to liken him to a Dr. King, Charles’ realism kept him slightly to the right of Dr. King.

Erik was the separatist. And yes, the civil rights movement did have separatists most notably Malcolm X.  Erik’s degree of pragmatism altered with changes in the facts on the ground.  He would have gladly took up arms against non-mutants, but if Raven’s assassination attempt today meant extinction of mutants tomorrow, then neutralizing Raven in the short term in order to secure a separate but strong mutant nation in the long run was the logical play.

This to me has always been the beauty of the science fiction/fantasy genre.  It provides an alternative backdrop for taking a look at ourselves.  The “X-Men” movie franchise has been able to paint that canvas by using the time machine and taking us back to the 1960s, 1970s, and 1980s, using events from those decades to provide us with teachable insights.  Using mutants as an analogy for race is not perfect.  As I discussed earlier I don’t particularly care for it and I would digress a bit and say I don’t care for the term “race” either, but in this specific space it works.

There is no such thing as economic equality

“Who is creating equal. I’m trying to find the equation.” — Louie Bagz

Byron Allen, a black billionaire media business owner, appeared on Fox Business News today sharing his insights on economic equality.  Economic equality has been one of the major topics during the last five or six weeks since the death of George Floyd last May.  At first glance, you could argue that Mr Floyd’s death had nothing to do with economics and that the media’s highlighting of the plight of black people in the American economy is another angle to either drive up ratings by keeping the story hot or to keep the American public distracted from other undercurrents.  Frankly I think it’s a bit of both.  Conflating an economic argument with an act of horrific brutality gives Emmy and Pulitzer chasing journalists something more to talk about.

On the flip side, you can make an argument that Mr Floyd’s death was related to economics based on an economic decision he made that tragically led to his death.  Mr Floyd was trying to make a purchase with a counterfeit twenty-dollar bill.  Somewhere in his decision matrix he concluded that his optimal currency for use in exchange for some other good or service was a dollar bill not recognized as legal tender in the United States.

But currency connotes more than just money in circulation.  The amount of currency one is in possession of transmits a message about the value that an individual brings to market.  Is this individual willing and able to pay for goods and services that I have in my inventory such that I am willing and able to supply such goods and services?  In Mr Floyd’s case that value, at that moment in time, may have been zero.  But did that necessarily mean he was not economically equal to the merchant he wanted to trade with or anyone else for that matter?  I would argue no for the simple reason that there is no such thing as economic equality.

Let’s first define “economic.”  Economic, which is derived from “economy”, entails the management of income and production.  To be economic is to derive and apply certain rules regarding the management of resources in order to achieve some targeted income or production goal.  An economy is a system of rules or decision-making matrices that determine how wealth and income are to be distributed and how production is to be managed.

“Equality” is to do or to make something equal.  Two or more items are said to be equal when they are of the same quantity, size, or value.  Two or more individuals may be considered equal where they have the same abilities, rights, or rank.  But can Mr Floyd’s decision-making matrix be equal to mine?  Would his approach to deciding between producing more bread versus producing more wine equally reflect mine? For the simple reason that no two people are alike I would conclude that economic equality does not exist because no two economic decision-making systems for income, output, and wealth are alike or can be alike.

Can we find economic equality on a macro or national level?  Specifically, can we find economic equality between Anglo-Americans and Afro-Americans?  Again, just like on the individual level, you won’t find the non-existent.  Anglo-Americans, as a collective, follow the rules of income, wealth, and production as determined by a minority made up of political, banking, and religious elites for the benefit of the masses to the extent sharing those benefits with the masses protects the interests of the elite.  After acquiring by force land, minerals, and waterways, Anglo-Americans were able to apply technology and free labor to build an economy and refine a political economy that applied rules of wealth distribution for its people.

Afro-Americans were not at the table when the rules of acquisition and distribution were made.  You cannot enjoy economic equality when you were never the author of the economy’s rules.

But even if Afro-Americans had garnered a sufficient amount of land and other resources such that they could design their own economy, would there be “economic equality”?  I would argue no because differences in lineage, history, environment, and values, to name a few characteristics, would likely create a decision matrix different to those of Anglo-America.  Even if per capita production and quality of goods and services were on par, I would argue that because of the difference in decision rules, both economies would not be equal.

And would it necessarily be a bad thing if both groups were not economically equal where each group decided via its own standards how best to distribute income and wealth?

Identifying the economic value within the African Diaspora and designing currency to transmit it …

Today while waiting for a haircut, a lovely young lady, who was waiting on her companion, asked me if I was a professor.  I was caught off guard by the question for it seemed almost prescient in nature.  I had been an adjunct professor back in Maryland, I told her.  She then asked if I had been on television. Again I informed her that I had made two appearances on a business news channel.  I expected the exchange to end there since her companion was finished with his haircut, but fortunately the conversation did not end there.  She proceeded to ask my opinion about the current state of the economy as it impacted black people.  I was happy to oblige since the topic was interesting and yes, when you get to engage a very attractive woman on the state of the political economy (underscore very attractive), you don’t pass it up.

The conversation turned to whether African Diaspora communities could use their own currency.  My answer was yes, but to get there we have to first identify a resource that could be used to generate an underlying value for the currency.  A true community is built on a resource the extraction, processing, and distribution of which leads to an industry that generates the income necessary for sustaining the communities members.

Second, there has to be a banking/financing resource in place to convert the assets of the underlying resource into loanable funds.

Right now we have very little of the above two components.  For example, Africans in America hold very little of its capital.  By some estimates, Africans in America hold approximately two percent of total capital in the United States. In addition, consider farm holdings by Africans in America.  Africans in America hold approximately two percent of all farms in the United States, according to the website ShoppeBlack.us.

Compounding the farmland problem is the lack of strong financial infrastructure through which not only lending can be accomplished but also trade in the securities that have underlying them black farm output.  There are approximately 45 black-owned farms located in 20 U.S. states.  There are, however, 14 black owned banks located in eleven states to support these farms.  It is a strong financial infrastructure that provides funding for land acquisition, seed, and new equipment and the current black owned facilities for lending are not enough.

Money is created when loaned funds for land acquisition, seed, and equipment are placed in a farmer’s checking account.  At this point black-owned banks could issue currency distributed by the Federal Reserve or create its own currency where a special currency is designed to be used by black farmers and any other industries related to or depending on black-owned farms including black-owned suppliers, black-owned restaurants, black-owned pharmacies and wellness stores, etc.

There is theory and there is application. With one to two trillion dollars in output, Africans in America could invest in more farmland while expanding their financial infrastructure in order to support lending, securitization of debt, and issuance of their own debt.  Where more land is not available, the next move may have to be the cultivation of intellectual capital and thus make greater inroads into the creative industry space.

On the other hand, Africans in America, rather than trying to replicate the existing model, may have to consider a completely new model for generating and trading currency, one where the resource is unique to and managed solely by Africans in America.